Glossary For Common Terms Used In Sports Betting

Legal sports betting is rapidly expanding in the United States, and gamblers are eager to place their bets on a couple of games to make profits. However, you may be unfamiliar with the world of sports betting as a whole. This glossary includes and explains some of the most commonly used sports betting slangs & terms.

A

Acca Insurance

"Acca insurance" is a kind of promotion. However, only accumulator bets are eligible for this sort of promotion. As a player, the Acca insurance allows you to get your money back if you lose your wager or bet by just one selection.

Accumulator

The "accumulator" is similar to a parlay in that the player places a number of bets on a single wager. In order for the wager to win, each of the bets must come out on top as a winner. The player loses his bet if any one of the bet legs fails.

Across the board

"Across the board" refers to three horse racing stakes that back a horse to win, place, and show in a game.

Action

This is a slang phrase for any form of wagering, including sports betting. It is easy to hear statements like "The players witnessed a lot of action throughout the course of the game".

Added Game

"Added game" appears on betting boards after the main lists have been published. Mostly due to popular demand, added games are found in college football on a regular basis. It is possible that an additional game could be a postponed contest, such as a rainout in baseball, from the earlier day.

AET Odds

Most soccer games that go into overtime as a result of stoppages during regulation play include "After Extra Time" odds also referred to as AET odds. After Extra time odds are included by bookmakers as live betting options on matches.

Against The Spread

This is a situation whereby a player places a stake on where the result would be decided by a point spread.

Against The Spread Odds

"Against the spread odds" are also known as "ATS odds". This type of wagering is aimed to ensure that both sides of the competition are involved. When it comes to betting, punters may have the option of placing their bets on either New Jersey as a -3.5 point ATS favorite at home or Chicago as a +3.5 point underdog on the road (away or traveling).

Alphabet

"Alphabet" is a variant of a system bet and there are six possible selections in this sort of bet. Two Patent bets, a Yankee bet, and a sixfold accumulator make up those six picks. These make up a total of 26 bets.

Also Ran

This is a term used to describe an athlete, a greyhound, or a horse that did not finish in a paying or payout position during or after a race.

Alternate Lines

Lines (also known as point spreads) for sporting events are available at all bookmakers. Depending on the bookmaker, different point spreads (alternate) may be offered for the same game, each with a different payout. These give gamblers extra ways to wager on certain sporting events.

American Odds

In comparison to other countries, odds in the United States are presented in a unique way. In the United States, Moneyline odds are denoted by a + or – sign. In countries other than the United States, the same odds may be expressed as a fraction or with a decimal point. As an illustration, consider the following line: Yankees +400 American odds would be equivalent to 5.0, or 4/1. If the wager is successful, the bettor receives the same amount of money.

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Ante-Post

At least one day before a race, futures odds for horse and greyhound races are posted. These are known as the "ante post". These odds are very popular in Triple Crown races such as the Kentucky Derby.

Arbitrage

As a player using this method, you need to bet on every conceivable outcome of an event in order to make a profit no matter who wins. In the United States, this is best accomplished through the use of Moneyline or futures wagers, which are spread among several different sportsbooks.

Asian Goal Line

The "Asian goal line" is a type of bet placed by players on how many goals will be scored in a football match. Half and quarter goal markets are also accessible in this market, which is a major variation from the normal over and under markets. As an illustration, if the market is over 2.5, a player will lose if the total goal scored during the game is two goals or fewer. However, if the teams score three or more, he will win.

Australian Open

In the middle of January, the first of four Grand Slams for tennis events is held for both women and men. The event lasts for over two weeks and it is known as the " Australian Open".

B

Back

To "wager," which is another synonym for "bet," simply indicates that you are placing a bet on the likelihood that a particular outcome will come to pass. As an example, a "backed" horse is one that has been placed with a bet on its future outcome.

Backdoor Cover

The "backdoor" is a highly popular term that is used to describe a team that covers a point spread very late in a game. The outcome of the game may or may not be affected by the team with the late cover. However, only the wager will be affected.

Bad Beat

A "bad beat" is not something players wish to experience when engaging in sports betting, however, it is inevitable for players who stake on game totals, money lines and point spreads.

A bad beat is a term used to describe a situation whereby a bet which appears to be gaining but subsequently loses. Bad beats usually occur when teams score very late in a game. In summary, a bad beat means when a player loses a bet in an unlikely fashion under extremely unlucky circumstances.

Banker

Similar to a round-robin bet in the United States, a banker bet is popular in Europe. A "system bet" is used to make a variety of "accumulator" (parlay) bets on a variety of different teams.

Bankroll

This is the sum of money a gamer must use to place a wager. As a rule of thumb, it's best to keep your bankroll separate from your overall cash reserves. It is just the money a player is willing to risk in the casino that should be considered their bankroll.

In other words, "bankroll" is money that has been set aside or deposited into an account for betting. Each successful gamble raises a player's bankroll, while each unsuccessful wager reduces it.

Bankroll Management

"Bankroll management" is very important in sports betting and bettors need to keep it in mind. When it comes to bankroll management, bettors should follow the same rules as when people handle their personal finances. As a player who engages in sports betting, setting a budget and only betting on what you can afford to lose are the most important aspects of keeping your bankroll in check.

Bar Price

Minimum odds for any unquoted entrants in a race that have not been shown during the first round of betting.

Beard

"Beard" is used to describe a person who places bets on behalf of another person who wants to remain anonymous or unknown. Also known as a "bet runner", this is someone who lays bets on behalf of professional gamblers in order to keep their identities secret from bookmakers.

Belmont Stakes

"Belmont stakes" is thoroughbred racing's third jewel in the triple crown. The Belmont Stakes' race day takes place on the first or second Saturday of June (3 weeks after the Preakness Stakes).

Best Odds Guaranteed

This means that even if the odds shift in your favor, you will still get the best price from the time you place your bet until the race begins. Horse racing is the most common use for it.

Bet

"Bet" is a very popular term that describes any stake made with real money at a bookmaker, casino, racetrack, or poker room, regardless of the type of game being played.

Bet Builder

As a player, If you have ever wanted to design your own bets using a wide range of market combinations, the "bet Builder" is the tool for you. It is provided by bookmakers and it is now a regular practice among the world's best operators.

Bet Calculator

A quick and easy tool a player can use to figure out how much money he could win on a wager. In rare cases, it can also be used to convert between other odds types and produce implied probabilities.

Bet Slip

As a player, everything related to your wager is saved on the bet slip after it is placed. You should also be able to see the returns of all of your bets here.

Betting Exchange

A "betting exchange" is a betting platform where people place wagers against each other rather than a bookmaker or sportsbook. A little proportion of winning wagers is taken by the exchange operator. It is often considered to be the most efficient sports betting market.

Betting Limits

The maximum or the smallest amount you can wager. Generally, the bookmaker has the final say on this.

Betting Market

All forms of wagers fall under this umbrella term. Betting categories and individual bets can both be referred to as "betting markets". For example, "The Goal-Goal/No Goal-Goal markets", “The Over/Under markets” or “The first goal-scorer markets".

Betting Odds

An indication of the suggested probability of a particular outcome, as determined by the particular bookmaker. Also known as "prices", they are also used to compute bet returns.

Betting Ring

A location at a racetrack where bookmakers operate and bettors can place their bets. This holds true for both horse racing and greyhound racing.

Betting Strategy

This is a variety of strategies bettors employ to get an advantage over bookmakers. Prior to placing a bet, it is essential to conduct thorough research and have a healthy and well-managed bankroll. As a player who wishes to make a profit from sports betting, "betting strategy" is essential and should not be taken lightly as it can either make or break you as a player.

Betting Unit

A standard wager is equal to one betting unit. Betting units allow players with varying bankrolls to discuss how much money they've wagered without revealing a particular dollar amount. As an example, a high roller may bet $50,000 as one unit on every wager, whereas a low roller might wager $50 as one unit on every wager.

Bettor

A player. A person who engages in sports betting or places bet(s) on the outcome of a game. The term is used especially for someone who plays regularly.

Bismarck

This is a less common expression that refers to a situation in which the bookmaker believes the favorite will lose. There are sometimes large limits and substantial promotions to entice bets on the favorite.

Bonus

For a number of reasons, sportsbooks reward their consumers with monetary incentives. It's common practice to provide new customers with a welcome package in order to entice them to try out a particular sportsbook. This is known as a "bonus".

Book

A short term to describe a bookmaker or sportsbook that posts odds and accepts bets from players.

Bookie

"Bookie" is a popularly used term as an abbreviation or short term of a bookmaker.

Booking Points

These are markets based on the number of red and yellow cards shown in a given game. Typically, a football-centric market. For example, yellow cards are worth 10 points while red cards are worth 25 points. One of each would be enough for a bettor to win if he staked on a plus 30 booking points market.

Bookmaker

A licensed person whose job is to accept bets and set daily betting odds.

Both Teams To Score

If both teams are able to score before the final minutes of regulation time, you've won this bet, according to the odds. In this market, it doesn't matter who wins the game.

Both Teams To Score & Win

A standard doubling down market. For your wager to be a success, both teams will need to score, and also for the team you backed to win the game. As a result, it has more generous odds than either market could give on its own.

Breeders’ Cup

The "Breeders' Cup" is a tier 1 thoroughbred championship horse racing game series that is held on the first Friday and Saturday in November. Several different race circuits host the series. The Breeders' Cup has been held at Santa Anita Park and Churchill Downs most times.

Buck

A slang term used to describe a 100-dollar bet.

Buying Points

This is when a player pays to get half a point or more to their advantage when wagering on a point spread. Bettors have the option of purchasing points by using various alternate point spreads and game totals. A player can buy one point to raise the spread to +3.5 points if it is set at +2.5 points. As more points are purchased, the odds of winning grow.

C

Canadian

This is a system bet, and it's also called a Super Yankee. It comprises 26 wagers placed on five separate sporting events. There are 10 doubles, 10 triples, 5 four-folds, and one five-fold in total.

Canadian Line

This is a combination of the point spread and moneyline bet. It is a betting line mostly utilized in ice hockey.

Cash Back Bonus

"Cash back bonus" refers to any promotional campaign in which you obtain a refund of your stake. Risk-free bets often offer this type of wager, where the stake is repaid partly or in full if it loses.

Cash Bonus

In contrast to a free bet, a cash bonus is a bonus that is paid out in cash. As a result, you will be able to withdraw this cash immediately.

Cash Out

This is a real-time tool that enables you to withdraw your winnings before the market has closed. There are two types of "cash out", partial cash outs that simply take a portion of your bet, and automatic cash outs which take place when the offer reaches a specified amount.

Chalk

"Chalk" is a word used to describe the team that is expected to win an event or competition. The team or individual in question is frequently considered a heavy favorite. The chalk is by far the most likely winner.

Circle Game

A sportsbook "circles" a game because the betting limitations are lower than average. This is most frequently the case when a questionable injury is discovered just prior to a game. The likelihood of inclement weather, trade rumors, or "load management," in which players take a night off, are all possibilities.

Clean Sheet

One of the most common football terms is "clean sheet," which is used to describe a game in which a team does not concede a goal. Most bookmakers let you wager on whether or not anything like this will occur.

Closing Line

This is merely the starting point of the point spread when a game starts.

Closing Line Value

Prior to a game's start, bettors use this term to describe the value of the line they staked on before the one that was last available.

Co-Favorite

Two or more teams with equal chances of winning. With future odds, bookmakers may list two co-favorites to win the NBA championship as the odds-on favorites.

Combination Bet

"Combination bet" refers to any bet that contains multiple selections i.e. more than one event is staked on.

Commission

Vigorish and juice are two other terms for "commission". It is the amount of money a bookmaker takes from any bet. It is also the percentage of winning bets that a betting exchange takes.

Consensus

Generally, "consensus" means an agreement by multiple people about something. However, in sports betting terms, consensus could mean the most popular teams people stake on before a game.

Contrarian

This is the act of staking against the consensus or popular opinion. Experienced gamblers usually place "contrarian" stakes when there is value in the opposite opinion.

Corners Match Bet

This is when bettors stake on which team will play the highest number of corner kicks. As a player, "corners Match bet" is a really interesting option for multiples when you don't want to back one team to win.

Correct Score

For each match, bettors are given a range of suggested final scores to wager on. When it comes to soccer, bettors can wager on a game ending 0-0 or 5-0, as well as any result in between those two scores. The favorite is the most likely outcome, whereas the underdog is the least likely outcome.

Cover/Covering The Spread

"Covering the spread" refers to any bet where a favorite triumphs and the final tally surpasses the point spread.

Cryptocurrency Betting Sites

These are betting websites or bookmakers that make it possible to wager using a cryptocurrency. The majority of these sites accept Bitcoin as a form of payment. However, one may be less able to take advantage of promotions as a result of this.

D

Dead Heat

"Dead heat" is simply another method of saying that a team's final standing has been tied. In the case of a tie or a dead heat in an event, sportsbooks have varied regulations for how to pay.

Decimal Odds

"Decimal odds" are presented in a different fashion than most Americans are accustomed to. Since European bookmakers display their odds in this format, they're commonly referred to as "European odds.". For the majority of gamblers, European moneyline odds are a lot simpler to understand mathematically than US moneyline odds. Odds in decimal form can be calculated by multiplying the bet amount by the odds.

Degenerate

A "degenerate" is someone who gambles regularly and often dangerously. No one wants to be termed a degenerate which is why gamblers are advised to do it responsibly.

Deposit Methods

These are the methods by which gamblers deposit money into your betting account for betting purposes. It's also vital to consider transaction fees and processing timeframes.

Some of the most common deposit methods are bank transfers, e-wallets, and debit cards.

Dime

A "dime" is used to describe a bet worth $1000.

Dog

This is the shortened form of an underdog. This is used to describe the team that is less likely to win a game.

Double Action

A "double action" is also known as an “If bet”. In a double action wager, the stakes and/or winnings from a winning bet are instantly transferred to a second betting choice, where they are placed on the second wager.

Double Bet

A bet that is twice as large as a bettor's typical bet. When a bettor believes one team is far superior to the other, he or she is highly likely to double their stake on the better team.

Double Chance

"Double chance" is a term that's most commonly used in Europe for sports betting, especially in soccer. If you place a double chance wager, you get two chances to win. A result in soccer, for example, can be a win, loss, or a draw. The outcome of two of the three outcomes may be combined instead of simply one in a double chance wager. There are now two chances for the bettor to win the bet.

Double-Header

An event where two games are scheduled to take place on the same day. Double-headers are common in baseball when the previous day's game was rained out.

Double Pop

This is a term used to refer to a chance that the bettor will bet double of his usual staking amount. It is mostly used in European betting, however, it is commonly called "doubling up" in the United States.

Double Result

This is a single betting chance when the halftime and final scores are combined into a single wager.

Draw

This refers to any competition in which the final score is tied. In most cases, when a draw occurs, the initial bets are repaid and the draw is scored as a "push". Three-way lines that include the option to bet on a tie or a draw are a notable exception.

Draw No Bet

In a "draw no bet" scenario, if you bet on a team to win and the game ends in a tie, your initial stake will be refunded. Smaller odds are a price to pay for cutting the number of possible marketplaces from three to two.

Drift

As soon as a betting line is posted and the odds begin to increase, it is known as a "drift". For example, a moneyline that moves between +220 and +225 to +230 is considered to be drifting.

Dutching

"Ditching" is when you bet on the favorite and then back it up with another one on a second favorite at the same time. Many horse racing markets make use of this bet because of the large number of participants that participate in it.

E

Each-Way

"Each-way" betting is common in horse racing, where a single stake is split between a horse finishing first or second. If the horse wins, both bets are paid out, but only one bet is paid out if the horse comes in second. A first-place finisher's winnings are always greater than a second-place finisher's own.

Early Cash Out

Before the event is over, bettors can settle a bet for a certain dollar amount. These are ways to make little profits on wagers rather than the payout the wager would initially pay.

Edge

Having information that isn't available to the general public that gives you an advantage is known as "edge". In other words, edge is used to describe a benefit on either the player or the bookie. For example, due to the vigorish they charge, bookies have an advantage over bettors.

Enhanced Odds

"Enhanced odds" is used to describe a situation whereby the bookmaker provides increased odds (meaning a higher payback) on selected or isolated markets.

Even Money

"Even money" is a bet that returns the same amount of money as the stake. The odds for an even-money bet in a sportsbook are shown as +100 or -100. However, there is no vigorish paid to the bookmaker, as there is with a typical -110 wager. When staking on an even money bet, the bettor is risking $100,000 to win the same amount instead of gambling $110,000 to win $100,000.

Exacta

This is the act of selecting the first and second place finishers in a horse race. Occasionally, but not often, other competitive sports have the "exacta" option.

Exotic Wager

These bets are unconventional in the sports betting world. Exotic bets aren't based on a specific event's point spread, future stakes, or moneyline. A sportsbook may classify this wager as a "proposition bet."

Expected Value

A sports betting player uses the "expected value" formula to predict whether a wager will win or lose over the long term. In order to become a successful sports gambler, it is important to place bets that have a positive expected value long term.

Exposure

"Exposure" is the estimated amount of money for an event that a bookmaker could potentially lose money on. As an example, a bookmaker may be facing a high exposure on one team winning the championship ahead of the other.

F

Field

The term "field" is used to refer to all of the conceivable selections in a wagering market.

Fin

Seasoned players use the term "fin" to describe a bet worth $50.

First Half

This stake can only be made on a sport with two halves. A first-half wager in football and basketball is the most common. The first-half bet can be termed a "half-time result" in soccer. First-half wagering options include the spread, moneyline, and game total. Also, this wager can be placed on a wide range of team and individual props.

Fixed Odds

Almost all sports gamblers will encounter the "fixed odds". Odds are fixed once a wager is placed and cannot be altered. However, parimutuel betting may affect the odds of horse bettors.

Flat Betting

"flat betting" is a betting system in which all bets are equal. Whether winning or losing, the gambler does not change his stake. The bet can either be a fixed monetary amount or a percentage of the bankroll.

Fold

An indication of the accumulator's capacity. For example, "5-fold" refers to a selection of five items on the bet slip.

Form

"Form" is used to describe the most recent outcomes for a team or a person.

Fractional Odds

This is a different type of odds mainly used in Ireland and Britain. The odds are only listed in fractional form (1/5) rather than as a moneyline (-500) that US bookmakers prefer.

Futures Bets

"Futures bets" describe stakes that are placed on the result of a specific event taking place in the future.

G

Get Down

The "get down" term is used to describe a betting action. In other words, it is a term for placing a bet.

Game Total Bet

This refers to betting on whether a game will end with more or fewer goals, points, or runs than expected. If the total for a baseball game is 7.5 runs, bettors must select whether the game's total runs will be over or under eight.

Graded Bet

Once a tournament has concluded, a bet is officially marked as a winner, loser, or push by bookmakers. Payment of winnings or push refunds occurs after a wager is graded which brings about the term "graded bet".

Grand Salami

This is a popular hockey wager in which the bet is placed on the total number of goals scored by all teams on a given day. Some sportsbooks may provide different versions for home, away, or during specific portions of games. Some bookmakers may provide a comparable wager on Major League Baseball runs.

H

Half ball Handicap

"Half ball handicap" are soccer bet odds with a point spread of plus or minus 0.5 goals.

Half time Bet

These are second-half stakes on the result of a game or competition. Any bet put during halftime can also be placed during the second half as live wagers.

Handicap

An even playing field is achieved through the use of "handicap" betting odds set by the bookmaker. When they face a team like Atlanta, who is thought to be weaker, New Orleans may be given a -7.5 point handicap before or during the game. If the Saints triumph by eight points or more, the handicap is covered, and the bets are won.

Handicapper

Used to describe a bettor who studies the matchups before placing a wager on any game. This holds true for sports pickers or tipsters who make predictions about a variety of upcoming games.

Handle

The "handle" refers to the total amount of money a bookie accepts for one game or event. In Nevada, bettors placed $154.7 million in wagers on Super Bowl 54. Also, as a result of Kansas City's thrilling comeback victory over San Francisco, bookmakers made over $18.8 million in profits.

Hedge

"Hedge" is frequently used with parlay bets and as a risk management method. It's possible to hedge a bet by placing a stake on a different outcome in the same game than what you originally placed. Hedge betting is also used to lower the potential risk of a wager.

Holding Your Own

As a player, when you are simply breaking even on a string of bets, rather than winning or losing, you are said to be "holding your own".

Home Field Advantage

This refers to the supposed advantage a team gets by playing in familiar surroundings at their home ground.

Hook

This is when game total odds and point spreads are given an extra half point. A hook ensures that a wager will not be considered a push. There will be a win for one bet for one side and a defeat for the other.

I

If Bet

"If bet" refers to a wager involving at least two individual bets that are linked together with an "if" condition that sets the wagering strategy

Implied Probability

Based on a bookmaker's odds, "implied probability" is the theoretical probability of a specific outcome.

In Play Betting

This refers to betting on an event that has already begun. The term "in-play betting", sometimes known as "LIVE betting," refers to bets placed while a sporting event is in progress.

J

** Joint Favorite**

"Joint favorite" is used to describe when a contest has two frontrunners. It's most commonly used in the UK.

Juice

"Juice" is also known as vigorish. It is established by the bookmakers and tied to spread and total bets. Bookmakers profit $10K from the juice on losing bets if Minnesota -3.5 (-110) vs Green Bay +3.5 (-110) has $110K staked on both sides.

K

Kelly Criterion

"Kelly criterion" is a well-known method of managing a bettor's bankroll in order to minimize losses while increasing winnings.

L

Lay

"Lay" is used to describe the act of accepting a bet. For example, when a bookie accepts bets from customers, they are said to "lay" the bets.

Laying Points

An easy bet on a favorite. As an example, to bet on Dallas, who is a -2.5 point favorite over the Los Angeles Rams, you must lay 2.5 points. A victory by at least points is required for the Cowboys for a bettor to cash in on their winnings.

Laying The Price

This is when a bettor chooses to place a moneyline bet on the clear favorite of a game.

Layoff

Betting companies and players use the "layoff" as a risk management tool. In order to ensure a profit, parlay bettors may choose to place layoff wagers on the two sides of the last open bet on their ticket to ensure a guaranteed profit.

Lengthening Odds

When odds get higher, they are said to be "lengthening".

Limit

Depending on the sport and the betting possibilities, bookmakers have different wagering restrictions. Players should set and adhere to personal betting limits as part of a sound money management strategy. It is very important as many things could go wrong if not considered.

Line

The odds or point spread offered by a bookmaker.

Linemaker

Another word that refers to a bookmaker, bookie, or sportsbook. It means a group or an individual that sets and offers betting prices and lines every day.

Listed Pitcher

This is a wager on baseball that is only valid if the pitcher identified as the starter delivers the very first pitch of the game. A bettor can wager on "action" if the pitcher is unimportant. Irrespective of who begins the game for the team wagered on, the latter wager will happen.

Live Betting

Once a sporting game or event has begun, bettors can participate in "live betting", which is also referred to as in-play wagering. As a game progresses, the oddsmakers modify the spreads, moneylines, and totals accordingly. Also accessible are props such as the next goal scorer and the final score as correctly predicted.

Lock

This is another method of indicating that a team or person is going to win the game.

Long Odds

Used to refer to high odds.

Longshot

The term "longshot" refers to someone or a team that is considered to be the weaker side. Longshot is also known as an underdog and the prices are always shown as positive numbers.

Lump On

A term used to describe the act of staking or placing a wager.

M

Margin

Regardless of the point spread, this bet involves the picking of a team to win or lose by a certain number of points. Let's take the Oakland Raiders and LA Chargers as an example, if a player backs Oakland Raiders to beat LA Chargers by 10-14 points, such bettor will need an Oakland Raiders victory margin of 11, 12, or 13 points to win the bet. If a win of 10 or 14 points occurs, it is a tie which is also known as a push.

Martingale System

Bettors can double the size of a stake after a loss in this type of gambling. Players can use this strategy for sports betting and other forms of gambling like blackjack.

Matched Bet

This is when a bettor takes advantage of a sportsbook's free bets to boost their odds of winning. In new legal sports betting markets in the United States, where promotional deals are offered, this is a very common strategy.

Middle

This is the act of cashing in on both sides of a bet. When a point spread changes prior to a match, bettors have the option to "middle".

Moneyline

"Moneyline" means a straight-up or direct wager. Bettors must guess the winner without any point spread.

Moneyline Odds

In the United States, this is one of the three most popular ways to express odds.

Moving The Line

As a player, this is when you pay to get a half-point advantage in a point spread wager.

Multiple Bets

"Multiple bets", like parlays, are a single wager that includes at least two sides. In order to cash in on several bets, each party must win or push. Here are some types of multiple bets.

• Double: A single multiple ticket with two sides.
• Treble: A single parlay slip that has three sides.
• Trixie: There are 3 double bets and a treble bet on each of the three sides.
• Patent: There are 3 single bets, 3 double bets, and a triple bet on each of the three sides.
• Yankee: For each of the 6 double bets and 4 treble bets, there are four sides to the bet.
• Lucky 15: There are 4 single bets, a four-leg parlay, 6 double bets, and 4 triple bets on four sides.
• Lucky 31: A 5-leg parlay, 5 four-leg parlays, 5 single bets, 10 double bets, and 10 treble bets are all created by five sides.

MVP

Medallion awarded to the player who best contributed to his team during the season or post-season. Staking on who will be given this prestigious award is a common future betting in the world of professional sports.

N

Nickel

A "nickel" refers to a five hundred dollars wager just like a dime refers to a thousand dollars wager.

Novelty Bet

Using a sportsbook to place a wager on something other than a sporting event. For instance, in New Jersey, you can wager on the Academy Awards. Overseas, these bets are more common.

O

Odds

These are the betting lines that a bookmaker sets for a variety of different events. It also determines the potential payout of a bet.

Odds Against

These are betting lines that are higher than even money. As a player, it means that you can win a payout higher than your initial stake.

Odd Compilers

The person or people in charge of determining the odds or lines at a bookmaker and making necessary adjustments to ensure a fair bet.

Odds-On Favorite

An event or game in which a team or individual is greatly favored to win. It's common for them to pay out at a considerably lower rate than the amount bet due to having very low odds.

Odds Shopping

This is the process of analyzing various sportsbooks' odds in order to locate the best value.

Off The Board

"Off the board" refers to when odds are removed from the betting board. This happens when a sportsbook no longer accepts wagers on an event or participant. It mostly occurs when a player's participation is not certain due to an injury or any other circumstances.

Outright Betting

This refers to accurately predicting the ultimate champion of a tournament or postseason event.

Outsider

Refers to a bet option with a very low probability of winning.

Over/Under Bet

This refers to a bet on the total number of things (such as total points or total goals scored in a game). As a player, you can bet on whether or not the total specified by the bookmaker will be over or under.

P

Parlay

Two or more bets that are combined into one. It is also termed an accumulator or multiple. To have a winning ticket, both teams must win. A parlay ticket is worthless if one of the selections ends in a "push".

Payout

A bettor's winnings from a successful wager are known as "payout". An individual's initial bet is frequently included in the potential payout shown on their betting receipt after they have placed a wager.

Permutation Betting

"Permutation betting" is one way to bet on a variety of outcomes by placing bets on several different outcomes.

Player Props

When a bet is placed on a player's likelihood to do a certain action during the game, this is known as "player prop bets".

Pleaser

This is a point spread wager with many selections in which the spread is moved against the bettor for each option.

Point Spread

"Point spread" bets are bets in which the bookmaker gives an advantage to the underdog in order to level the playing field. The number of points awarded is also known as the point spread.

Post Time

This refers to a race's scheduled start time. Once all of the horses have been put into the starting gate, they are said to be "at the post".

Proposition Bet

"Proposition bets" are sometimes abbreviated as "prop bets". They are unusual wagers that can be placed on a wide range of sporting events.

Proxy

A proxy is a person or a group of persons who wager on behalf of others

Public Betting Percentage

This represents the overall share of bets made by the general population.

Puck Line

This is a bet based on the number of goals scored in a hockey game. Since there are so few goals scored in a game, the base puck line is frequently +1.5 or -1.5. If more or fewer goals are scored, the puck line offered by the sportsbooks may be different.

Puppy

"Puppy" is a term used to describe an underdog team in a game. It is also another way of saying a team will lose if they are favored in bet slips.

Push

This is when a bet on the point spread comes up exactly on the line set by the bookmaker. In the event of a push, the bettor's money is returned.

Q

Quarter Bet

A "quarter bet" is any bet made before or during the quarter of any sporting game.

R

Recreational Bettor

This type of bettor bets sporadically or only on important sporting events. The "recreational bettor" is a polar opposite of a savvy or experienced bettor.

Reduced Juice

This is when a sportsbook reduces the vigorish on a particular game. For instance, a sportsbook would offer -105 instead of -110 for a game. Bettors who win their wagers will have the opportunity to walk away with additional money because of the lowered juice.

Return

The amount of money a gambler is entitled to after making a successful wager.

ROI

ROI is the shortened form for "Return On Investment". (Gain from Investment – Cost of Investment) / Cost of Investment can be used to determine the ROI of a sports bet.

Rotation Number

Every betting option has a unique number provided to it by the bookies. When placing a wager at a betting window at a land-based bookmaker, bettors enter the rotation number rather than the club name.

Round Robin

A "round robin" is a wager that involves staking on multiple parley bets at a time.

ROY

a shortened form for Rookie of the year, this is an award given to the best rookie in the majority of professional sports leagues each year. It's common for bettors to wager on which athlete will be crowned Rookie of the Year (ROY).

Runner

A person who lays bets on behalf of another individual at a sportsbook. A "beard" is another name for this individual.

S

Sharp

This is a person who places bets on sports professionally. He also does it with the assistance of a significant amount of resources. Sharps take a long-term view and place their bets based on what they know. They also compare prices before placing a wager, whether on a favorite or an underdog.

Special

"Specials" are like exotic and prop bets. They may be offered in a competition in addition to the more standard moneyline, game total, and spread betting options.

Sportsbook

"Sportsbook" can be found in free-standing shops or specific areas at land-based casinos. Bettors and sports fans alike meet at sportsbooks to wager. Bettors at sportsbooks can place wagers on sporting events taking place in the United States as well as other countries around the world.

Square

"Square" refers to a sports bettor who does it for fun. However, they are not treated with the same respect by sportsbooks as more knowledgeable or experienced bettors.

Stake

This is the amount of money a player is willing to lose when staking games. However, all bets that are deemed a push, as well as initial stakes are returned to the bettor.

Staking Method

"Staking method" varies among gamblers. A bankroll percentage is used as a stake by certain players, while others prefer a maximum bet limit.

Steam

In a "steam", the odds are affected by the amount of money being bet on a game or player. A few bettors will "follow the money" or "chase the steam" thinking that the bookmakers know something they don't know about the game.

Sucker Bet

A bad bet is usually referred to as a "sucker bet". It describes a bet that favors the bookmakers significantly.

Syndicate

These are gamblers who pool their money and knowledge to place bets on certain sporting events. Gambling syndicates frequently place enormous bets on new prices.

T

Take The Points

This refers to when a player accepts to place a stake on an underdog.

Teaser Card

"Teaser card" lists all games from a particular sport in which the odds are greater or lower than the prices listed on the main betting board each day. This type of wager requires the selection of two or more possible outcomes.

Teaser Odds

This is a line that a bookmaker uses to attract bettors by moving them up or down. To "tease" the odds on a single game, players might use alternate lines of wagering.

Three-Way Odds

A wagering option with three sides and the availability of an option to gamble on a tie.

Ticket

This is a kind of receipt issued by a bookie to confirm that a wager is accepted.

Tip

The most probable scenario of a sporting event predicted by professional handicappers and tippers. Tips should not be bet on without appropriate prior research, although they are quite useful when used in conjunction with research.

TKO

This is a shortened form for "technical knockout" in boxing.

Tipster

A person or organization that provides betting advice. There are both free and paid sports betting tipsters.

Tissue Price

A sportsbook's opening odds. Generally, the "tissue price" is considered the most reasonable bet price.

Tout

This is used to describe someone who sells or gives sports betting predictions.

True Odds

"True odds" are the probabilities of an event occurring based on current information. This is the most precise moneyline or point spread in sports betting.

Two-Way Odds

A wagering option with two sides without the availability of an option to gamble on a tie.

U

Underdog

In a betting market, the selection that is most likely to lose is named the "underdog". Underdogs are given good odds as they are seen as the weaker team.

V

Value Bet

A bet in which the theoretical probability of winning is larger than the odds indicate.

Vig

A "vig" is a popularly used short form for vigorish.

Vigorish

Juice is another word for "vigorish". Standard vigorish pricing of (-110) means that a player must place a $110 bet in order to get a $100 profit.

W

Wager

This is the act of placing a bet or stake on any market or event that is offered at a casino or sportsbook.

Wire-To-Wire

"Wire to wire" is a type of sports betting that is placed on which team will be leading each quarter or for a number of quarters. Basketball wire-to-wire wagers are the most common.

Wise Guy

This term refers to sharps, professional players and Handicappers, sharps with vast knowledge, experience, and expertise in the sports they stake on.

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