Let’s dive into the exciting world of sports betting, an arena where luck, skill, strategy, and understanding of the game collide. One of the first steps in becoming a successful sports gambler is familiarizing yourself with the lingo. Whether you’re a newcomer looking to place your first bet or a seasoned pro, getting a firm grip on the terminology can elevate your betting game to a whole new level. Here are 50 of the most common terms you’ll encounter, all designed to keep you in the know and ahead of the game.
- Against The Spread (ATS): Betting on the outcome of a game taking into account the point spread.
- Arbitrage: Simultaneously placing bets on all possible outcomes of an event at odds that guarantee a profit.
- Backdoor Cover: When a team scores points late in the game to cover the spread unexpectedly.
- Bankroll: The total amount of money a bettor has to place wagers.
- Bookmaker (Bookie): An organization or a person that accepts and pays off bets.
- Chalk: The favored team or player.
- Circled Game: A game where betting limits are lowered, often due to injuries or weather.
- Cover: When a team wins or loses by the necessary number of points to win the bet.
- Dime: A $1000 bet.
- Dog: Short for underdog, the team expected to lose.
- Edge: An advantage. Usually used in reference to the odds or spread.
- Even Money: A bet where the potential winnings are equal to the amount staked.
- Futures Bet: A wager on a game or event that will take place in the future.
- Handicap: The predicted scoring differential between two teams as quoted by a sports book.
- Hedging: Placing bets on the opposite side after you have already placed a wager on one side.
- Juice: Also known as vigorish, the commission taken by the bookmaker.
- Line: The odds or point spread on a game or event.
- Middle: When a line moves, a bettor can try to “middle” a wager and win both sides with minimal risk.
- Money Line: Odds for a game based on $1.00. A “minus” (-) preceding the number indicates the team is a favorite.
- Over/Under: The total number of points expected to be scored in the game by both teams combined.
- Parlay: A single bet that links together two or more wagers; to win the bet, the player must win all the wagers in the parlay.
- Pick ’em: A game where neither team is favored.
- Point Spread: The number of points by which the supposed better team is favored over the underdog.
- Proposition (Prop) Bet: A bet that focuses on the outcome of events within a given game.
- Push: When a result lands on the betting number and all wagers are refunded.
- Sharp: A professional sports gambler who uses vast resources to determine their wagers.
- Square: A casual gambler. The opposite of a sharp.
- Steam: When a line is moving unusually fast. It often happens when many bettors wager on the same side.
- Straight Bet: A single wager on a game or event that will be determined by a point spread, money line or total.
- Teaser: A type of parlay in which the point spread or total of each individual play is adjusted.
- Total: The combined amount of runs, points or goals scored by both teams during the game, including overtime.
- Underdog: The team perceived to be most likely to lose.
- Vigorish (Vig): The commission the bookie earns on losing bets.
- Wager: Another term for bet.
- Yankee: A type of bet consisting of 11 bets involving four selections in different events.
- Action: The amount of money wagered on a specific bet.
- Bad Beat: A loss that appeared to be a win before a late change of events.
- Beard: Someone who places a bet for another person who wishes to remain unknown.
- Buying Points: Paying additional money to move the point spread in a favorable direction.
- Consensus Pick: Derived from the amount wagered on a game, team or player, so as to represent the consensus of the betting public.
- Double Chance: A bet where you win if your team draws or wins.
- Fade: To take the opposite side of another bettor’s wager or to accept that bet yourself.
- Grand Salami: Betting on the total number of goals/runs/points scored in all of the games in a specific league on a given day.
- Handle: The total amount of money bet on an event or group of events.
- Limit: The maximum bet taken by a book.
- No Action: A bet in which no money is lost or won and the original bet amount is refunded.
- Off the Board: A game or event that sportsbooks will not allow you to bet on.
- Pleaser: A specialized type of parlay that improves the point spread for the book but pays out more money.
- Scalp: A form of arbitrage where a bettor takes advantage of different spreads offered by different bookmakers to make a profit regardless of the outcome.