Sports betting has been around for centuries, and it continues to grow in popularity among sports enthusiasts. It’s a form of gambling that requires a certain level of skill and knowledge to be successful. Like any industry, sports betting has its own vocabulary, and understanding the terminology is crucial to placing successful bets. In this article, we’ll explore the top most common sports betting terms to help you navigate the world of sports betting.
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Sports Betting Terms & Concepts
Here’s a look at the most common sports betting terms and concepts.
Action
The term used to describe a bet that has been placed.
Against the Spread (ATS)
When you bet on a team to cover the point spread, you are betting ATS.
Bankroll
The amount of money a bettor has set aside for their gambling endeavors.
Bookmaker (Bookie)
The person or company that accepts bets and pays out winnings.
Chalk
The team or player that is favored to win.
Closing Line
The final betting odds offered by a bookmaker before an event starts.
Consensus
The general agreement among the betting public or experts on a particular team or player.
Cover
When a team or player beats the point spread and wins the bet.
Dead Heat
When two or more competitors finish with the same result, and all bets are refunded.
Decimal Odds
The betting odds displayed in decimal format, such as 2.50, which means a $10 bet would pay out $25.
Dog (Underdog)
The team or player not favored to win.
Double Result
A bet where you must correctly predict the outcome of the first half and the final result of a game.
Even Money
A bet with a payout of 1:1, or a $10 bet would pay out $10.
Favorite
The team or player expected to win.
First Half Bet
A bet on the outcome of the first half of a game.
Futures
A bet placed on the outcome of a future event, such as the Super Bowl winner.
Half-Time Bet
A bet on the outcome of a game at half-time.
Handicap (Spread)
A method of evening out the betting by giving a handicap to the underdog team or player.
Hedging
A strategy of placing a bet on the opposite outcome of a previous bet to minimize losses or lock in profits.
Home Field/Home Court Advantage
The edge a team or player has by playing on their home turf.
Hook
The half-point added to a betting line to eliminate the possibility of a push (tie).
Juice
The commission or fee charged by the bookmaker.
Layoff
The process of placing a bet on the opposite outcome to balance the bookmaker’s liability.
Lines (Odds)
The betting odds offered by the bookmaker for a particular event.
Lock
A bet considered to be a sure thing.
Moneyline
A bet on the outright winner of a game or event.
Nickle
A slang term for a $500 bet.
Over/Under
A bet on the total combined score of a game or event.
Parlay
A bet that combines two or more wagers into one, with higher payouts but greater risk.
Point Spread
The handicap given to the underdog team or player.
Prop (Proposition)
A bet on a specific aspect of a game or event, such as the number of goals scored.
Push
A bet that is tied and results in a refund.
Reverse Line Movement
When the betting line moves in the opposite direction to the majority of the public’s bets.
Sharp
A term used to describe professional or expert bettors.
Sportsbook
A facility that accepts bets on sports events.
Steam
When a betting line moves rapidly due to heavy betting by sharps or large bettors.
Teaser
A type of parlay bet that allows the bettor to adjust the point spread in their favor, but with lower payouts.
Ticket
The physical or virtual record of a bet.
Total
A bet on the total combined score of a game or event.
Tout
A person or website that provides betting advice and predictions for a fee.
Under
A bet on the total combined score to be less than the set line.
Value
The perceived worth or benefit of a bet.
Vigorish (Vig)
The commission or fee charged by the bookmaker on a bet.
Wise Guy
A slang term for a professional bettor or sharp.
Yield
The percentage of profit or return on investment from a series of bets.
Zig-Zag Theory
The theory that bets should be placed on the team that lost the previous game, as they are more likely to win the next game.
1×2 Bet
A type of bet that includes three possible outcomes- win, draw, or loss.
3-Way Bet
A type of bet in which there are three possible outcomes, such as in soccer – home win, draw, or away win.
