Sports Betting Glossary of Terms

A-Z Index of Sports Betting Terms and Definitions

A

• Accumulator: Another word for Parlay, this is a multi-pick wager in which the bettor selects 2 or more results (usually capped at anywhere from 6 to 12). All picks must be correct, or at least push, to win. Any picks that push are removed from the accumulator.

• Across the Board: In horse racing, a series of three bets covering a horse to win, place, or show.

• Action: Refers to any kind of bet.

• Added Game: Any game that was not a part of the original rotation of sporting events. It cold be added due to popular demand from the public, or the result of a rain delay or other postponement.

• After Extra Time / AET: These are live betting odds that may be posted if extra time is added to a game after the end of regulation. AET odds are mostly found in soccer when in-game stoppages occur.

• Against the Spread / ATS: In spread-betting action, to bet against the spread (ATS) is to bet on the team that is losing points. ATS odds are posted to encourage equal action (or betting) on both sides of an event; the other side being to Cover the Spread.

• Alternate Lines: Every sportsbooks offers lines on scoring events. Sometimes, a sportsbook will offer a different spread, with different odds, to attract more bettors. These variable spreads and odds are known as Alternate Lines.

• American Odds: Also known as Moneylines, or US Odds, this term refers to the way American sportsbooks display their odds. Moneylines are whole-numbers represented by a + or – symbol. If the integer is positive, the odds represent the amount of money to be won for betting $100. If the integer is negative, the number represents the amount that must be wagered to win $100. For example, American Odds of +150 on the Giants would pay $150 for a $100 bet; at -150, betting $150 would win $100.

• Ante-Post: In horse racing, ante-post refers to Future Bets, usually on major championship events, that are posted at least one day in advance of the race.

• Anytime Scorer: A Prop Bet on a specific athlete to score one or more points at any time in a game. (See also First Scorer and Last Scorer.)

• Arbitrage / ARB: A form of betting in which the bettor places multiple wagers to cover all possible outcomes, guaranteeing a profit either way. Opportunities for arbitrage betting are rare. They only occur when different sportsbooks employ the lines of different oddsmakers, who have different projected outcomes. For example, Bookie A may list the Eagles vs. Cowboys game at -125 Eagles, +115 Cowboys, while Bookie B lists it as -120 Cowboys, +110 Eagles. By taking equal action on +115 Cowboys at Bookie A, and +110 Eagles at Bookie B, barring a push, you’re guaranteed to win more than you lose.

• Asian Handicap: A specific type of handicapping popularized in Asia and found primarily in soccer betting. Asian handicaps generally range from 0.25 to 2.0 goals, with no option to bet on a push.

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B

• Backdoor Cover: This occurs when a game’s score assists bettors in covering the spread, without impacting the actual winner of the game. For example, if the spread is -5 Bears, +5 Browns, and the Bears win 28-24, those who bet the Browns will get the Backdoor Cover, because they’ve won their spread bets, even thought he Bears won the game.

• Bad Beat: Bettors are said to have experienced a bad beat when they are so close to winning, but something happens – often something unexpected or extraordinary – to cause the bettor to lose. For example, a football team might be losing by 10 points with 4 minutes to go in the 4th, then come back strong to score two touchdowns and win the game.

• Banker:The European term for a Round Robin.

• Bankroll / BR: The total amount of money a bettor has to place wagers with.

• Beard: A person who places one or more wagers for another person who wants to remain anonymous.

• Bettor: A person who places a bet.

• Betting Exchange: A special betting platform that eliminates the need for a bookmaker by connecting individuals to bet directly with one another. A betting exchange allows individuals to post their own lines at the odds and price they want to bet. Others can browser these odds and take the bets, if they wish. The betting exchange collects a flat commission fee, usually between 5% and 10% of all winning bets.

• Betting Strategy: Any systematic approach to betting that is meant to produce an advantage, or increase the bettor’s chances of beating the house in some way. It could revolve around anything from the use of a Staking Method, to the purchase of Tips, to researching events as a Handicapper.

• Board Price: In horse racing, the lines listed by retail bookies who operate trackside.

• Bonus: A promotional offer presented by sportsbooks to encourage new and/or existing customers to make a deposit or place a wager.

• Bonus Chasing / Bonus Whoring: Opening new accounts with multiple online sportsbooks for the sole purpose of claiming free bets and other new-player bonus offers.

• Bookmaker: Also known as a Book, Bookie, or Sportsbook, this term refers to any individual or operation that is licensed to post odds and accepts wagers from bettors.

• British Odds / UK Odds: Same as Fractional Odds

• Buck: A bet of $100, also known as a Dollar.

• Buy Points: Available at some sportsbooks, to buy points is to handicap a competition by requesting additional points on a spread in exchange for reduced odds. For example, if the spread is +3.5, the bettor can buy an additional point to increasing the line to +4.5, while reducing the odds, or payout, for a win. Opposite of Sell Points.

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C

• Canadian Line: A type of betting in ice hockey that combines points spreads and moneylines.

• CFP: Abbreviation for College Football Playoffs

• Chalk: Another word for Favorite.

• Chalk Bettor: Someone who exclusively, or almost exclusively, bets on favorites.

• Circled Game: Competitions that sportsbooks set low maximum betting limits on due to the uncertainty of the outcome. Circled games may occur due to player injuries, bad weather, or other unpredictable circumstances.

• Closing Line: The final odds posted on a specific event just before it starts, when all betting is closed.

• Closing Line Value: A term used to denote the value of the line at which a bet was placed, compared to the closing line.

• Combination Bet: Any type of bet that involves picking more than one outcome, such as an Accumulator or Round Robin.

• Commission: Also known as Juice or Vigorish / Vig, commission is the extra price bookmakers tack onto each side of their lines to ensure they make a profit. For example, if a sportsbook set lines at +100 Browns, +100 Bears, it would be an even 50/50 chance for bettors on either side. If 100 bettors choose the Browns, and 100 choose the BEars, the sportsbook makes nothing. Instead, a sportsbook shifts the lines to something like -110 Bears, -110 Browns, to ensure the bookie makes money (a.k.a. its commission), so long as the betting comes in fairly even on both sides. Commission also refers to the percentage of money an Exchange takes on all winning bets.

• Consensus: When a majority are in agreement about something. It could be the consensus on which games to bet on, or which lines hold the most value.

• Contrarian: A contrary bettor who consistently places wagers on the underdog, or against the most popular betting patterns.

• Correct Score: These are bets on the exact final score of a game at the end of regulation. In a soccer game, Correct Score bets are offered on a final score of anywhere from 0-0 to 5-5.

• Cover: In spread-betting, the term Cover, or Cover the Spread, refers to betting on the team that is favored to win. When that team wins the game by enough points to also win the spread bet, they are said to have covered the spread.

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D

• Dead Heat: When a game ends in a tie score.

• Decimal Odds: The odds format most commonly displayed by European sportsbooks (as opposed to American / Moneyline Odds). Many bettors find the math easier to calculate in decimal format, as the amount a bettor receives for winning (total return being bet + winnings) is a simple multiple of Bet * Odds. For example, at decimal odds of 1.9, the return on a $10 bet is [10 * 1.9 = $19].

• Dime: A bet of $1,000.

• Dime Line: A term that refers to a line with a “10 cent” difference. For example, the a sportsbook sets the lines at -115 Maple Leaves, +105 Oilers. That 10-point difference is the dime line, and represents the bookmaker’s commission.

• Dog: Same as Underdog

• Dollar: A bet of $100, also known as a Buck.

• Double Action: Also known as an “If Bet”, this is a wager that, if won, is designed to automatically roll over the winnings to another specified bet.

• Double Bet: Also knows as a Double Pop, this is when a bettor chooses to bet twice as much as their normal betting unit.

• Double Chance: Common in European soccer betting, this is a wager in which the bettor picks two of three possible outcomes to win. Possible outcomes are Win, Loss or Tie. The bettor picks two possible outcomes instead of one, reducing the payout but increasing the odds of winning.

• Double Pop: Same as Double Bet

• Draw: Also known as a Push, a draw occurs when a contest ends in a tie. When this happens, all bettors usually receive their wagers back, unless betting the draw was an option.

• Drift: When betting lines grow longer following posting of the Opening Line. For example, when the line opens at +140, then shifts to +145, then to +150.

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E

• Each Way: In horse racing, this is a bet where the price is split equally, half on a horse to win (place first) and the other half on the horse to place (finish first or second). If the horse wins, both bets win. If the horse finishes second, the Place bet wins.

• Early Cash Out: Some sportsbooks will allow bettors to take an early cash out on a wager before the game is over. If your team is winning, but you’re worried they might lose in the end, you can take an early cash out, receiving a lower value payout, but a guaranteed profit. Also known as a Buy Out.

• Edge: To gain an advantage by learning exclusive or little-known knowledge about an athlete or contest.

• European Odds: Same as Decimal Odds

• Even Money: A bet that pays out at the same rate as the wager. For example, bet $100 to win $100.

• Exacta: Especially common in horse racing, this is a bet on two specific horses to finishes in first and second place.

• Exchange Betting: Same as Betting Exchange

• Exotic Bet: An exotic is a non-traditional sports bet, meaning anything outside of the normal realm (i.e. not a moneyline, spread, total, or future). Exotics are generally found under a sportsbook’s Prop Bet category.

• Expected Value: This is a calculation by experienced bettors to determine the value of a wager, or series of wagers, over time. If the expected value is positive, it is said to be a good wager.

• Exposure: The amount of money a bookmaker could potentially lose on a single event.

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F

• Favorite: The Favorite, or Fav, is the team that is favored to win an event outright.

• Fin: A bet of $50.

• First Half Bet: In any sport that has a definitive first half and second half, bettors may be given the option to place a bet on what happens in the first half of the game. It’s sometimes referred to as a “half-time result”. For example, one could bet whether a team will be winning at the end of the first half. Anything that happens after that point is irrelevant to the wager.

• First Scorer: A Prop Bet on a team or specific athlete to score the first point(s) in a game. (See also Anytime Scorer and Last Scorer.)

• Fixed Odds: A wager that is placed at the current odds, and remains valid at those same odds, even if the lines shift in one direction or another before the start of the event.

• Flat Betting: This is a system of pricing wagers in which the bettor places the same amount of money on every bet. It could be a percentage of their overall bankroll, or a fixed cash amount.

• Form: Short for performance, form refers to the recent results of an athlete or team.

• Fractional Odds: The odds format most commonly used in Great Britain and Ireland (i.e. UK Odds), it is represented by a fractional number. The numbers in the fraction determine the ratio of bet-to-payout, based on which number is higher, the numerator or denominator (the top or bottom number in the fraction), similar to the positive and negative integers in US Moneylines. The first number is the amount you win for betting an amount equal to the second number. For example, fractional odds of 1/2 means a $2 bet wins $1. Compared to US odds, it would be the same as US moneyline odds of -200, wherein you would bet $200 to win $100.

• Futures: These are a type of bet on the outcome of a future event – usually a tournament or championship event, like the NBA Finals, MLB World Series or NFL Super Bowl. Futures bets are generally offered before the start of a season.

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G

• Game Total Bet: Same as Totals Betting.

• Get Down: Slang term that means to take action, or place a bet.

• Graded Bet: The final result of a wager – win, lose or push – as defined by the bookmaker following the end of a competition. Wagers are paid, collected or returned once a bet has been graded.

• Grand Salami: Sportsbooks offer Over/Under odds on the total combined scores of all games in a specific sport or league, for the duration of the day. For example, all Sunday NFL games might be projected to score a combined total of 218.5 points. You can bet Under (218 and below) or Over (219 and up) on the Grand Salami.

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H

• Handicap: The term handicap, with no suffixes added (i.e. Handicapping, or Handicapper), refers to a point spread match. Sportsbooks will handicap the favorite team by giving points to the underdog, thereby leveling the playing field to offer equal odds on both sides.

• Handicapping: Not to be confused with a Handicapper, handicapping is a form of betting permitted by some sportsbooks wherein the bettor is allowed to take or give more points than the original spread, in exchange for reduced or increased odds.

• Handicapper: A handicapper is a professional sports betting strategist who researches the finer details of a game before placing a bet. The term also refers to strategists who sell their information in the form of suggested picks.

• Handle: The total amount of money a sportsbook accepts in wagers over an amount of time or event. For example, a revenue report might depict a sportsbook’s monthly handle. Or, the Las Vegas Review Journal might report the total handle on Super Bowl bets by all Vegas sportsbooks.

• Hedging: A term that refers to placing bets on both sides of the same event to either minimize risk (when you think your original bet will lose), or guarantee a profit (as in Arbitrage Betting).

• Holding Your Own: A phrase that refers to a bettor who is neither winning or losing, but is breaking even on bets.

• Home Field: The home field advantage goes to the team that is playing at their home field, court, stadium, etc.

• Hook: Refers to the half-point added to most point spreads and totals to ensure bets cannot end in a push.

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I

• If Bet: Same as Double Action

• Implied Probability: The probability of any outcome occurring, based on the lines presented by a sportsbook. Implied odds are generally based on the Opening Line, as it is considered to be the most theoretically accurate odds.

• In-Play Betting: Also known as Live Betting, these are bets placed on a game that is already in progress. Instead of betting on a moneyline (straight up winner) or point spread, bettors place prop bets on the what will happen next. For example, in a football game, you might bet on whether the current drive will end in a field goal, a touchdown, a punt, etc.

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J

• Joint Favorite: When two teams in the same event are posted at equal odds, designating them both (or neither one) the favorite.

• Jolly: A British term for Favorite

• Juice: Same as Commission

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K

• Kelly Criterion: A special bankroll management system that controls the size of all bets based on current circumstances. The criteria for the system is meant to minimize potential losses while maximizing potential gains. [See our publication, Sports Betting with the Kelly Criterion, for more detailed information on how the system works.]

• Key Numbers: This term refers to the margin of loss experienced most often in a particular sport. For example, key numbers in football would be 3 and 7, as these are the most common number of points gained on a successful scoring drive. Bettors often use key numbers to decide the value of a bet.

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L

• Last Scorer: A Prop Bet on a team or specific athlete to score the last point(s) in a game. (See also First Scorer and Anytime Scorer.)

• Laying the Points: A bet on the favorite, in which the bettor is laying, or sacrificing, points to the underdog. If the favorite is laying 7.5 points to the underdog, the favorite must win by 8 points or more for a bet on that team to win. Opposite of Taking the Points.

• Laying the Price: Laying the price refers to a moneyline bet on the favorite to win outright. The bettor is risking a higher amount of money than he stands to win, assuming that the favorite will come out on top. Opposite of Taking the Price.

• Layoff: When a sportsbook places a wager with one or more other sportsbooks to reduce the risk of losing a lot of money, due to heavy one-sided wagering by bettors.

• Limit: When a bookmaker sets a minimum/maximum bet limit on a specific event or wager to minimize risk. It is suggested that bettors also set limits, based on the size of their bankroll.

• Lines: The odds posted by a sportsbook; often (but not always) refers to Point Spread.

• Linesmaker: Same as Oddsmaker

• Listed Pitcher: In baseball betting, the listed pitcher is the pitcher that is projected to start the game. Because the pitcher has such a strong impact on the game’s odds, if any listed pitcher does not start, all bets on that game will be canceled.

• Live Betting: Same as In-Play Betting

• Live Lines: Same as Real Time Odds

• Lock: A so-called “sure thing”, or a bet that is considered almost impossible to lose.

• Longshot: A severe underdog, or a bet on an underdog that is very unlikely to win, but the odds are attractive enough that some bettors will be encouraged to place the bet anyway. The opposite of an Odds-On Favorite.

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M

• Margin: A type of bet wherein the bettor selects a range of points for one team to win by over another. For example, one might bet that the Boston Celtics will beat the Miami Heat by a margin of 6-9 points. The final score doesn’t matter, so long as the Celtics win by 6, 7, 8 or 9 points.

• Martingale System: A betting system that calls for bettors to place one bet at a single unit size, then double their next wager after each consecutive loss. This way, once the bettor wins, they’ve earned a profit of exactly 1 unit. After winning, the bettor starts over again with a 1 unit bet.

• Matched Bet: A type of promotion offered by sportsbooks in which a bettor receives a free bet matching their own paid bet. These are often utilized to encourage betting on specific sports or competitions. For example, a sportsbook might offer a matched bet of up to $100 on the first football bet a customer makes on the first Sunday of the NFL season.

• Middle / Middling: Similar to Arbitrage, middling is when a bettor places wagers on both sides of the same event after the lines shift to ensure a profit.

• Moneyline: Same as American Odds

• Multi-Pick Betting: Same as Accumulator

• Multiple: Same as Accumulator

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N

• Nap: Same as Lock

• Nickel: A wager of $500.

• No Action: An event is said to have no action when a sportsbook cancels all odds and wagers on that event. Any bets previously placed are returned. This is common in some sports, especially baseball, when the Listed Pitcher does not start.

• Novelty Bet: Same as Prop Bet

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O

• Odd Compilers: Same as Linesmaker

• Odds Format: A term that refers to the way odds are displayed by a sportsbook. The three types of odds formats are Moneyline Odds (US), Decimal Odds (EU) and Fractional Odds (UK).

• Odds On Favorite: When a team is so heavily favored to win that the odds pay far less than the amount wagered; the opposite of a Longshot.

• Oddsmaker: Same as Linesmaker

• Off the Board / OTB: An event is said to be OTB, or “off the board”, when a sportsbook isn’t currently accepting wagers on that event. It could be that circumstances surrounding the event are uncertain (such as a player injury), or that its start date is too far in the future to determine odds for yet.

• Opening Line: The original odds posted for an event, before any alternate line shifts take place.

• Outsider: Same as Longshot

• Over (as in Over / Under): In Totals Betting, a wager that the total score at the end of regulation will be higher than the projected total. For example, if the bookmaker sets the total at 4.5 in a soccer game, Over is a bet that the game will end with a total combined score of 5 or more points.

• Overbroke: A reference to a betting market in which the total percentage of bets is under 100%, thereby creating an advantage for bettors, and a disadvantage for bookmakers. Opposite of Overround.

• Overround: A reference to a betting market in which the total percentage of bets is over 100%, thereby creating an advantage for bookmakers, and a disadvantage for bettors. Opposite of Overbroke.

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P

• Parlay: Same as Accumulator

• Payout: The amount of money a bettor will receive for a winning wager. The payout generally includes the original bet amount, plus the winnings (i.e. total return).

• Pick ‘Em / Pick Up: A competition between two evenly matched teams, where there is no favorite or underdog.

• Place: In horse racing, a bet on a horse to finish first or second place.

• Player Props: Prop Bets placed on specific players, rather than teams. For example, a bet that a specific running back will score a touchdown, or that a specific linebacker will sack the quarterback.

• Pleaser: The opposite of a Teaser bet, a Pleaser is a multi-pick point spread bet where the bettor must give up a set number of points on the point spreads of each team on their parlay bet slip. If selling 6 points (i.e. a 6 point pleaser), the bettor can choose how to allocate the loss of 6 total points. For example, you could remove 6 points from one spread, remove 3 points each from two spreads, 2 points from one spread and 4 from another. It doesn’t matter how you do it, so long as you deduct 6 points from the total picks. In exchange, the payout increases. As a parlay wager, all picks must be correct to win.

• Point Spread: The difference in the projected margin of victory between to competing teams. For example, if the Broncos are expected to beat the Chiefs by a score of 14-10, the Point Spread is 4. After applying a +0.5 hook to avoid ties, a sportsbook’s lines might look like this; Broncos -4.5 @ -110 vs. Chiefs +4.5 @ -110.

• Post Time: The scheduled start time of an event; usually applies to a race.

• Power Ranking / Power Rating: A computer-generated ranking system that grades athletes and/or teams in a specific sport or league to create a list, ranked best to worst.

• Press: To bet more than your usual stake or betting unit.

• Price: Another word for the odds or lines posted by a sportsbook.

• Pricing the Market: What Oddsmakers do, setting the lines for the sportsbook market.

• Prop Bet: Same as Proposition

• Proposition: Also known as Exotics, Props, Player Props, or Specials, these are any type of bets that stray from the norm (moneylines, point spreads, parlays, futures, etc.) Proposition (Prop) bets are the most common types of bets seen in live betting.

• Proxy: Same as Beard

• Public Betting Percentage: The percentage of wagers placed on a particular side by the general betting public. This does not reflect how much money is being bet on either side; only the percentage of bettors choosing each side.

• Public Money: The amount of money being wagered on a particular side by bettors. This does not reflect the percentage of people betting on each side; only the amount of money being wagered.

• Puck Line: A term used to denote the Point Spread in a hockey game.

• Punter: Same as Bettor

• Puppy: Same as Underdog

• Push: A tie or draw that results in a bettor’s wager being returned.

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Q

• Quarter Bet: In any sport that has definitive quarters (first, second, third and fourth quarter periods), bettors may be given the option to place a Quarter Bet on what happens in a specifi quarter of the game. For example, which team will score most in the first quarter of a football game. Anything that happens before or after that quarter of the game is irrelevant to the wager.

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R

• Rag: British term for Longshot or Outsider.

• Real Time Odds: Betting lines that update in real time, as the sportsbook shifts its lines.

• Recreational Bettor: A casual gambler who bets for entertainment value more so than profit. This type of bettor isn’t looking for supplemental income, and generally bets smaller amounts.

• Reduced Juice: When a sportsbook lowers the standard juice, or commission, on an event, usually as a promotion or marketing tool to encourage more bettors to take action on it. For example, instead of the usual -110 vs. -110 on a point spread, both sides might be listed at -105.

• Reverse Line Movement: This refers to when a line is shifting in the opposite direction of the money that’s being wagered on it. Generally, when more money is bet on one side, the line shifts to encourage more betting on the other side. Reverse line movement can be indicative of Sharp Money. For example, Team 1 has received 75% of the Public Betting Percentage, but the line on Team 1 moves from -4 to -3.5 (opposite of what you would expect). This means the Sharps are putting their money on Team 1.

• Return: The total amount of money returned when a bet is won. The total return is comprised of the original stake, or bet, plus the payout for winning the bet.

• Return on Investment / ROI: A sports bettor’s ROI determines the profitability of their ventures, over a period of time. ROI is calculated as: (Gain – Cost) / Cost = ROI. For example, you place 5 bets of $100 each, and win three of them for a total return of $575, your Gain is $575, and your cost is $500. (575 – 500) / 500 = 0.15, or 15%. Thus the ROI is 15% profitability.

• Rotation Number: A number system universally employed by Las Vegas to order wagers. Bookmakers assign these unique IDs to specific teams in each betting market. For example, the bookie might list: 535 MIA -2.5 @ -109 / -132 to Win vs. 536 HOU +2.5 @ -113 / +112 to Win. The #535 refers to Miami Heat, and #536 to the Houston Rockets. If you walk up to the counter and ask for “$100 on 536 to Win”, you’re placing a $100 bet on the Houston Rockets to beat the Miami Heat outright, with no points added. Thus, rotation numbers make it easier to place a bet with no confusion as to who you’re betting on. This is especially useful in college sports, where a bet on the Texas Longhorns could refer to the football, basketball or baseball team.

• Round Robin: A combination of bets in which a parlay wager is placed on every 2-team combination between anywhere from 3 to 10 teams. Think of a Round Robin as a way to hedge your parlay bets. For example, you think team 1 will beat team 2, 3 will beat 4, 5 will beat 6, and 7 will beat 8. Instead of a 4-team parlay bet on teams 1, 3, 5, and 7, you place six 2-team parlays on teams 1 and 3, 1 and 5, 1 and 7, 3 and 5, 3 and 7, and 5 and 7. This way, if one or even two of your four picks lose, you still stand to gain. But, instead of placing all those separate bets, you simply pick your four teams, choose a total amount to bet, and select Round Robin. The sportsbook does the rest of the work for you.

• Run Line: A term used to denote the Point Spread in a baseball game.

• Runner: Same as Beard

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S

• Scalping: When a bettor exploits discrepancies in lines and/or bonuses between two or more sportsbooks to make a profit.

• Second Half Bet: In any sport that has a definitive first half and second half, bettors may be given the option to place a bet on what happens in the second half of the game. For example, one could bet whether a team will score more points than their opponent in the second half, irrespective of what happened in the first half.

• Sell Points: Available at some sportsbooks, to sell points is to give up points in a match in exchange for greater odds (a higher payout). For example, if the spread is +3.5, the bettor can sell some or all of those extra points. The more the lines are reduced, the higher the odds increase for a win. Opposite of Buy Points.

• Sharp: A professional sports bettor with a long-term, above average (profitable) win rate. [Learn more about Sharp Sports Betting]

• Sharp Money: The money wagered by professional Sharps. These are usually large wagers that get a lot of respect from sportsbooks, due to a sharp’s propensity for making correct picks. Sharp money can be the cause of Reverse Line Movement.

• Show: In horse racing, a bet on a horse to finish third place or better.

• Single: A one selection wager, as opposed to a multi-pick bet like an Accumulator or Round Robin.

• Smart Money: Same as Sharp Money

• Specials: Same as Prop Bets

• Sportsbook: Same as Bookmaker

• Spread: Short for Point Spread

• Square: Another word for a recreational, casual, or novice sports bettor.

• Stake: The money wagered by a bettor. When a bet is won, the original stake is returned, followed by the amount of money won. Combined, these make up the Total Return for a win.

• Staking Method: Any system a bettor uses to determine the amount of money they place on each bet is referred to as a staking method. The actual method may vary from one bettor to the next. For example, Flat Betting, the Kelly Criterion, and the Martingale System are two methods of staking.

• Steam: When the bulk of wagers favor the same side of a competition. Many semi-professional bettors will “chase steam” (i.e. follow the money), assuming other bettors have superior insight to the game.

• Steam Move: When Steam (the bulk of wagers favoring the same side of a competition) is so heavy, it causes drastic and simultaneous line movement across the whole sports betting marketplace.

• Straight Up / Straight Bet: A wager on the winner of a single event.

• Sucker Bet: A term referencing any bad bet in which the sportsbook has a substantial advantage.

• Syndicate: A group of sports bettors who pool their money to make large wagers. Many times, a syndicate will place one large wager to cause a line shift, then place a second, larger wager on the other side, following the steam they intentionally created to get the lines they really wanted.

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T

• Taking the Points: Taking points refers to betting on the underdog in a point spread. For example, if you take the Blue Jays with a +1.5 run line, you’re taking an extra 1.5 points. If the Blue Jays win, or lose by only one run, the bet pays out.

• Taking the Price: Taking the price refers to a moneyline bet on the underdog. The bettor is risking a lower amount of money than he stands to win, should the underdog beat the favorite outright (no points added).

• Teaser: The opposite of a Pleaser, this is a special type of parlay bet in which the bettor is allowed to adjust the Point Spread or Totals for a game in their favor. The more adjustments the bettor makes, the lower the payout drops for a win. For example, a 6 point teaser would allow you to add 6 total points across the spreads of all your parlay picks. You can allocate those 6 points however you wish. As a parlay bet, all picks must be correct to win.

• Teaser Card: A list of pre-adjusted Teaser lines offered by a sportsbook. Bettors who like teasers can choose to take the reduced odds from these cards, and often do so to place parlay, or Accumulator bets.

• Three-Way Odds: When there are three different sides to bet on, such as Team A, Team B, and a Tie.

• Ticket: In retail sports betting, a ticket is like a receipt, issued by the sportsbook to confirm that a bettor has placed a wager. If the bet is won, the ticket is returned in exchange for a payout.

• Tip: Betting advice offered or sold by a Handicapper or tipster.

• Tipster: Same as Handicapper

• Tissue Price: The Opening Line (first listed odds), often considered to be the fairest lines on an event.

• Total Return: Same as Return

• Totals Betting: A bet that the total score in a game will be Over or Under the bookie’s projected total. For example, if the total is set at 4.5 in a soccer game, you can bet the total will be Under (4 or below), or Over (5 or above) the projected 4.5 total score.

• Tout: Name for a Handicapper or Tipster who sells picks or betting advice to other bettors.

• Traders: Same as Linesmakers, these are the people employed by a sportsbook to set the Opening Lines, and adjust them as necessary to maintain a balanced book of wagers (i.e. ensure the sportsbook makes a profit).

• Treble: A parlay bet consisting of exactly three selections.

• True Odds: The actual odds of something happening in a sports event. The most accurate odds are usually considered to be the original, Opening Lines.

• Two-Ways Odds: When there are only two sides to bet on, such as picking either Team A or Team B. You cannot wager on the outcome being a tie.

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U

• UK Odds: See Fractional Odds

• Under (as in Over / Under): In Totals Betting, a wager that the total score at the end of regulation will be lower than the projected total. For example, if the bookmaker sets the total at 4.5 in a soccer game, Under is a bet that the game will end with a total combined score of 4 or less points.

• Underdog: The team that is expected to lose an event outright.

• Units: The term “unit” refers to a bettor’s wager amount, especially when reporting wins and losses. All Staking Methods refer to bets in units. For example, the Martingale System suggests betting 1 unit to start, and increasing bets by 1 unit for each consecutive loss. A unit can refer to a specific amount of money, such as $10 or $25, or a percentage of one’s bankroll, such as 2%.

• U.S. Odds: Same as American Odds

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V

• Value Bet: A bet wherein the Implied Probability (theoretical probability of winning the bet) is greater than the actual odds would suggest.

• Vigorish / Vig: Same as Commission or juice.

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W

• Wager: Any type of bet.

• Win: In horse racing, a bet on a horse to come in first.

• Wire to Wire: A bet that the chosen team will lead at the end of each period or quarter, for a specific number of periods / quarters. Wire-to-wire bets are especially popular in basketball betting.

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X

Y

Z