Sports Betting Glossary

A

• Action: Any live or pending wager. A sportsbook or bettor with a lot of action has many bets in play.
• Against the spread (ATS): Results or records measured by whether a team covers the point spread, not just wins or losses straight up.
• Alternate line: A spread or total that differs from the main line, usually with adjusted odds to reflect the new number.
• American odds: Odds format using plus and minus numbers (for example −110 or +150) commonly used in the United States.
• Arbitrage (arb): A rare situation where opposite sides of the same event can be bet at different books in a way that locks in profit regardless of the result.

B

• Bad beat: A bet that loses in a painful or unlikely way, often near the end of the game.
• Bankroll: The total amount of money a bettor has set aside specifically for betting.
• Betting limit: The maximum amount a sportsbook will accept on a given market or event.
• Bet slip: The digital or physical ticket that lists your selections, odds, stakes, and potential payouts.
• Book: Short for sportsbook, the operator that offers betting markets and takes wagers.
• Bookmaker: The company or person that sets lines and accepts bets, also called a book or house.
• BTTS: Short for both teams to score, a soccer market where you bet on whether each team will score at least one goal.

C

• Chalk: The favorite in a matchup or a very popular side or player prop.
• Closing line: The final odds or spread offered by a sportsbook right before an event starts.
• Closing line value (CLV): The difference between the odds or line you bet and the closing line. Beating the closing line consistently is often viewed as a sign of good bets, even if individual results vary.
• Correct score: A prop market where you bet on the exact final score of a game, often at long odds.
• Cover: When a team beats the point spread. A favorite covers by winning by more than the spread. An underdog covers by losing by fewer points than the spread or winning outright.
• Cash out: A feature that lets you settle a bet early for a specified amount, locking in a profit or reducing a loss before the game ends.

D

• Decimal odds: Odds format that shows the total return per unit staked, including your stake. For example 1.80 returns 1 dollar and 80 cents for every 1 dollar bet.
• Dog: Short for underdog, the team or player expected to lose, typically at plus odds or receiving points.
• Draw: A tied result at the end of regulation time in sports where ties are allowed, such as soccer.
• Draw no bet (DNB): A soccer market where you bet on a team to win and get your stake back if the match ends in a draw.
• Double chance: A soccer bet that covers two of the three possible results, such as home or draw, away or draw, or home or away.

E

• Edge: A perceived advantage where you believe the true probability of an outcome is better than what the odds imply.
• Even money: Odds that pay one to one, meaning you win an amount equal to your stake. In American odds this is represented as +100.
• Exposure: The amount of risk a sportsbook or bettor has on a particular outcome or event.
• Extra time: Additional time played after regulation in some sports or competitions. Some bets include extra time, others grade at the end of regulation, so rules matter.

F

• Favorite: The team or player expected to win, usually shown with minus odds or by giving points on the spread.
• Fractional odds: Odds shown as fractions such as 5/2 or 10/11, commonly used in the United Kingdom.
• Futures bet: A long term bet on outcomes decided later in the season, such as who will win a championship, division, or individual award.
• First half bet: A wager that is graded based only on the first half, not the full game.
• First five innings bet: In baseball, a wager graded after the first five innings, often used to focus on starting pitchers rather than bullpens.

G

• Game total: The over under on the combined score of both teams for the entire game.
• Grand salami: A market, often in hockey or baseball, on the total combined scoring for all games in a league on a given day.
• Grind: A slow, steady betting approach focused on small edges and consistent units rather than big swings.

H

• Handle: The total amount of money wagered on a specific game, market, day, or sport.
• Handicap: A spread style adjustment designed to level the playing field, used in point spread betting and in Asian handicap markets.
• Hedge: Placing a second bet to reduce risk or lock in a profit on an existing position.
• Hook: The half point added to a spread or total, such as 3.5 or 7.5. The hook prevents pushes on key numbers.
• Home field advantage: The boost a team receives from playing at home, often reflected in the line.

I

• Implied probability: The probability of an outcome based on the odds. Converting odds to implied probability helps you judge whether a bet has value.
• In play betting: Also called live betting, wagering on events while the game is in progress with frequently updated lines and odds.
• Juice: Another word for vig, the commission the sportsbook builds into the odds.

J

• Joint favorite: When two or more selections share the same shortest odds to win a market.

K

• Key number: In football, a margin of victory that occurs frequently because of scoring patterns, such as three, seven, or ten points. Spreads that move on or off key numbers can be important.
• Kelly criterion: A mathematical staking formula used by some experienced bettors to size bets based on edge and odds. It is powerful but aggressive and usually not recommended for beginners.

L

• Line: The point spread, total, or odds set by a sportsbook for a particular market.
• Line movement: Changes in the spread or odds as money comes in or new information appears.
• Limit bet: A wager placed for the maximum amount the sportsbook will accept on that market.
• Live betting: Placing bets after the game has started with odds that update in real time.
• Long shot: A selection with a low implied probability and high odds, such as +800 or higher.

M

• Moneyline: A bet on which team or player will win the game or match outright, without a spread.
• Market: A specific type of bet offered on an event, such as spread, total, player prop, or futures market.
• Middle: A situation where you bet opposite sides of a spread or total at different numbers and can win both if the final result lands in the middle.
• Margin of victory: The number of points or goals by which the winning team wins a game, often used in alt line markets.

N

• Nickel: Slang for 500 dollars. A half nickel can mean 250 dollars.
• No action: A bet that is voided and stakes are returned, often due to postponement, cancellation, or a push in certain markets.

O

• Odds: The price offered on a bet, showing potential payout and implied probability of an outcome.
• Odds boost: A promotion where the sportsbook improves the odds on a selected market for a limited time or stake.
• Over: A bet that the final number in a totals market will be higher than the posted line.
• Over under: Another name for a totals bet on combined points, goals, or runs.

P

• Parlay: A bet that combines two or more selections into a single wager. Every leg must win for the parlay to cash, but payouts are higher than single bets.
• Player prop: A bet based on individual player statistics, such as points, yards, rebounds, or goals.
• Puck line: A spread in hockey, usually set at minus one and a half goals for favorites and plus one and a half for underdogs.
• Push: A bet that lands exactly on the line. For example, a spread of minus three that lands on a three point victory. Stakes are typically refunded.
• Public side: The team or outcome attracting the majority of casual betting volume.

Q

• Quarter bet: A wager on the outcome of a specific quarter in a game, such as first quarter spread or total.

R

• Round robin: A parlay structure that creates multiple smaller parlays from a list of selections, so not all bets rely on every leg winning.
• Return: The total amount you receive if a bet wins, including both stake and profit.
• Run line: The spread in baseball, usually minus one and a half runs for favorites and plus one and a half for underdogs.
• Risk: The stake amount you put up on a bet, as opposed to the profit you stand to win.

S

• Sharp: A highly skilled or professional bettor whose action is respected enough to move lines.
• Spread: The margin by which a favorite is expected to win or an underdog is expected to lose. Bettors choose sides against this spread.
• Stake: The amount of money you put at risk on a single bet.
• Steam: Rapid line movement driven by significant betting action, often associated with sharp money.
• Straight bet: A single wager on one side or total, not part of a parlay or teaser.
• Sweat: The tension of watching a bet that is still in doubt near the end of the game.

T

• Teaser: A multi leg bet where you move spreads or totals in your favor in exchange for lower odds. All legs still must win.
• Total: The line set on the combined points, goals, or runs in a game. You can bet over or under this number.
• Three way moneyline: A soccer style market where you can bet home win, away win, or draw at the end of regulation.
• Ticket: The record of your bet, either a physical slip or a digital entry in a sportsbook app.

U

• Underdog: The team or player expected to lose, usually offered at plus odds or with points on the spread.
• Unit: A standardized measure of bet size used by a bettor, often one percent or two percent of their bankroll.

V

• Value bet: A wager where you believe the true probability of an outcome is higher than the probability implied by the odds.
• Vig (vigorish): The commission or edge a sportsbook builds into its odds, sometimes called juice. It is why standard spreads are often priced at −110 on both sides instead of even money.

W

• Wager: Another word for bet, referring to the act of risking money on an outcome.
• Win: The profit portion of a successful bet, not including the returned stake.
• Win percentage: The share of bets you win over a given sample. It is useful context but does not tell the full story without odds and average price.

X

• xG (expected goals): In soccer and hockey analytics, a metric that estimates how many goals a team or player should have scored based on the quality of their chances. Useful when evaluating whether recent results are sustainable.

Y

• Yards prop: A football prop bet based on a player’s rushing, receiving, or passing yards.
• Yield: Profit as a percentage of total amount staked over a period of time.

Z

• Zig zag theory: A simple betting idea sometimes applied in playoff series, where you back the team that just lost the previous game in expectation of a bounce back. It is more of a narrative than a proven system and should be used with caution.

Sports betting glossary FAQ