Sports Betting Terms

1. Understanding Sports Betting Terms
2. Sports Betting Terms And Phrases
3. Sports Betting Terms Su
4. Sports Betting Terms And Phrases
5. Sports Betting Terms Explained Chart

Sports Betting Terms the sportsbook at the Monte Carlo Las Vegas If you are new to sports wagering or simply looking to learn more about certain phrases and terminology, here you will find some common sports betting terms and definitions. Handle - A sports wagering term that means the total amount of bets taken. Hedging - A sports betting term that means placing wagers on the opposite side in order to cut losses or guarantee a. The act of placing a bet or having an active wager on a sporting event. “I have action on.

Whether you’ve been into sports betting for years or you’re just getting started, you need to know how to talk the talk. Check out this glossary of some of the most common sports betting terms so you won’t be left guessing. Sports betting has been around for centuries, and its global popularity has meant that it has collected a lot of terminology around its every aspect.

Find every offshore sports betting term explained clearly and simply to make wagering life easier. Betting definitions can differ from country to country, so we have taken the most popular and listed them below:

Contents

A

Accumulator

A wager that is placed on multiple sporting contests. In order for the accumulator to pay out, all conditions must be met. If one of the conditions is missed, then the entire bet is forfeited in favor of the sportsbook. This type of wager is also known as parlay.

Action

A common name for wager of any kind.

Against the Spread

A type of wager which will depend on the point spread. Any points that are left are granted to a particular team in order to complete the bet.

Ante Post

The “Ante Post” is placed ahead of a game. This type of bet is also known as a “future” and it’s the most common type of wager played.

Arbitrage

A type of a value betting opportunity where you can make a wager on either outcome of an event and still turn a profit.

B

Banker

The “Banker” bet means that the wager is almost certainly a win for the person making the bet.

Bankroll

The total amount that a player has on their hands and can wager with. Bankrolls are kept by the sportsbooks and can be withdrawn at the request of customers.

Betting Exchange

The betting exchange was introduced in the United Kingdom with the arrival of Betfair. These betting venues allow bettors to play against each other rather than try to beat the sportsbook. Betting exchanges always command a small fee on any wager, and this is how they generate profit.

Bettor

The standard term for a person who places wagers on the outcome of sports. Another commonly acceptable term is “punter,” but it’s most commonly used in the United Kingdom, Australia and Canada.

Bookie or Bookmaker

The term for a “sportsbook” outside the United States.

Buck

A bet that is worth $100, regardless of the type of wager.

Bullseye

A bullseye is a bet that is worth $50. This term is more commonly used in the United Kingdom than the United States.

C

Canadian

The “Canadian” is a type of bet containing a total of 26 wagers spread across multiple subtypes. The Canadian is also commonly known as “Super Yankee”.

Chalk

A very useful and popular term that is used to denote the most likely winner, or favorite, in a particular sports betting contest.

Chalk Bettor

A bettor who only ever backs the favorites. This type of play usually fetches less than ideal profit, but it helps bettors build profit and develop their bankrolls incrementally.

Cover the Spread

A type of wager that is placed against the spread.

D

Decimal Odds

Decimal odds are the most popular format to display odds in the United Kingdom and Europe. The format is also popular in America and offshore, although “moneyline” is the preferred visualization in the U.S.

Dime

One of the most expensive single bets worth $1,000.

Dog

A term used to describe the opposite of the “chalk,” i.e. the team that is given good chances to win but is not very likely to win.

Dog Bettor

Similar to “chalk bettor,” dog bettors stick with the underdogs recuperating their losses by winning bigger yields on their successful wagers.

Double Bet

A bet that is placed on two possible outcomes whether on the same game or across different contests.

E

Each Way

In the cases of arbitrage, some people prefer to place “each way” bets which split the sum of the wager between the two possible outcomes.

Edge

The “edge” is the perceived advantage that a player or a team has. The term is also used to denote the “cut” or how much a sportsbook charges on each bet you place.

Even Money

An interesting name for a wager which denotes a competition where the odds of winning are 1:1. The bet is also called “evens” for brevity

F

Field

A term denoting all participating players and teams in a given sporting event, whether it’s a game or an event.

Fixed Odds

Odds that do not change based on the progressing of sports betting event but remain unchanged all throughout a game.

Form

A very useful term that denotes the recent performance of a player or a team and is used by bettors to decide.

Fractional Odds

A type of odds display that represents the odds as a fractional value. These odds are used in the United Kingdom.

G

Get Down

Placing a wager, used colloquially.

Goliath

A super bet that involves 247 bets across multiple selections. The yield usually reaches hundreds of thousands worth of payout.

Grand Salami

A fun type of wager that denotes how many points have been scored in a single day of hockey matches.

H

Handicap

Another name for a “point spread” bet. In these scenarios, the sportsbooks are attempting to level the field between teams, making the outcome more unpredictable and giving underdog bettors a slight edge.

Hedge

To bet against a previous bet you have placed so as to negate potential losses and still guarantee a small profit. This is a type of a value betting situation.

Heinz

Heinz is a term denoting a bet made on 57 selections which has a big payout.

J

Juice

This is the amount that sportsbooks charge on each individual bet. This type of fee is also known as vigorish, and more commonly vig in the United States. The world is Russian in origin.

L

Lay

When a bet is laid, the bet is placed. Either a sportsbook or a bettor may lay the bet.

Layoff

A type of agreement between sportsbooks whereby efforts are pooled to negate potential downside from customers winning too much.

Line

This is a common term that combines odds and point spreads in one.

Long shot

A type of bet that is not very likely to pay off, but that guarantees a better overall payout by being less certain than a “chalk”.

M

Moneyline

The type of wager that is placed on a team or a player to win a sporting contest.

N

Nap

The most successful bet that a betting advisors thinks is worth betting on during the day.

О

Outsider

A player or team that is not likely to win, also called the underdog.

Over/Under Bet

A type of bet that is based on whether a game progress to a certain amount of points, i.e. over or under the said amount of points. The same Over/Under betting applies to individual players.

P

Proposition Bet

A wager on a specific pre-determined outcome whether it’s about an individual player or a team.

Punter

Another term for bettor used mostly outside the United States.

R

Runner

A person who places wagers on the behalf of others.

S

Stake

The amount of money that is being wagered.

Straight Bet

A single bet on a team or player winning an event.

T

Teaser

A type of bet where a player bets on the spread and changes the points in their favor but agrees to worse odds.

U

Underdog

The least likely winner of a competition who is still given a fair chance at the title.

V

Vigorish or Vig

The specific sportsbooks commission charged by owners on every wager, which guarantees that the platform would continue to generate revenue.

The time has come. Circa is soon opening the largest sportsbook in Vegas history, a sportsbook so big that the casino is built around it. And with the upcoming opening, it’s time to get back to basics and make sure you know everything there is to know about sports betting. Whether you’re a beginner who needs sports betting explained or a veteran who just wants to brush up on sports betting terms and sports betting terminology, this is the ultimate guide to bringing in the big bucks from betting on sports.

Understanding Sports Betting Terms

There is a lot of sports betting terminology to go through, but below are 40 of the basic definitions you should know.

Sports Betting Terms and Definitions

A B C D E F G H J L M O P R S T U W

A

Action: This refers to any wager of any kind.

Against the Spread: Betting on the point spread in a particular matchup as opposed to the moneyline. Instead of focusing on who wins, this bet focuses on how teams play against a given spread.

Alternate Lines: Odds that are either higher or lower than the main posted line.

B

Bankroll: This is simply the number of available funds you have to bet with.

Sports Betting Terms And Phrases

Bookmaker: The person or organization who is properly licensed to create the lines you bet on, as well as take bets.

C

Chalk: Betting on the favorite.

Closing Line: Where the point spread is at the start of the game.

Cover: A term related to betting against the spread. You win when you “cover” the point spread. If you bet on a three-point favorite and they win by seven, the spread has been covered.

D

Draw: This is when a game falls exactly on the spread, not over or under. No one wins in this scenario.

Drift: Moneylines that grow longer after the opening line is posted.

E

Edge: A betting advantage gained through research or having insights that are not known publicly.

Even Money: A wager that returns the same amount as was risked. For example, wagering $100 would win $100.

F

Favorite: The expected winner in a game or event.

Field: In many prop bets, you can bet on something that isn’t listed. This means you can pick a team or player to win that’s not specifically listed on the betting form.

Fixed Odds: Set odds in which once a wager is placed, the odds don’t change.

Future: You don’t necessarily have to bet on a game or event right before it starts. Many betters place a wager on a team to win the Super Bowl before the season even starts.

G

Grand Salami: Over/Under odds that are placed on the total goals/runs/points scored in all of the games, from a specific league, on any given day.

H

Handicapper: An analyst who observes sports events to predict the winning team or player.

Hedging: A tactic that allows you to bet on the opposite side of the wager you already place. This can help stem your losses a bit.

J

Juice: A small commission attached to the odds set by bookmakers. Another term for vigorish.

L

Laying Points: The act of placing your bet on a favorite.

Lines: Another way to refer to betting odds.

M

Middle: Cashing tickets on both sides of a betting option when a point spread moves up or down prior to a match.

Moneyline: A term mostly for sports like baseball and hockey. Because there’s so few runs or goals scored, this allows you to bet on whether a team is going to win or not.

O

Off the Board: An event you can’t bet on. Sometimes, sportsbooks will take an event out of the betting possibility because there’s something affecting the game, like the weather.

Opening Line: The first point spread available for a game.

Over/Under: The total amount of points or runs scored in the game. A number will be given. Let’s say it’s a baseball game and the over/under is six. If you bet the under, you’re banking on the two teams scoring a combined total of fewer than six runs.

P

Parlay: A bet where bettors aren’t necessarily restricted to just one bet. You can tie at least two together and all the events need to happen to get the payoff. It’s hard to pull off, but it comes with a potentially massive payday.

Pick ‘Em: A bet that takes place when the teams are so close, no individual one is favored. This just means the line is zero.

Point Spread: Odds posted on a game to help indicate favorites indicated with – odds, and underdogs indicated with + odds.

Proposition Bet: Better known as a prop bet, this is a wager on something other than the outcome. It can be something related to the game, like the over/under on rushing yards, or something silly, like how long the national anthem will take to be sung.

Proxy: An individual or group who places bets for non-local bettors who may be unable to place bets in person.

Sports Betting Terms Su

Push: This is when there’s no winner at the end of a contest, usually when the favorite wins by the exact spread.

R

Real-Time Odds: Odds aren’t stagnant. They move back and forth based on new information. These are the live lines that reflect that movement.

S

Sharp: Professional sports bettor who uses vast resources to determine wagers.

Stake: The amount of money a gambler risks when placing a bet.

T

Tip: Betting advice offered by tipsters and handicappers to predict the most likely outcome of an event.

Sports Betting Terms And Phrases

Tipster: A person or group who offers sports betting advice.

U

Underdog: Sometimes referred to as the “dog,” this is who bookmakers think will lose.

W

Wager: This refers to any type of bet.

Applying the Sports Betting Terminology

Sports Betting Terms Explained Chart

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