Whenever you feel unsure about a betting scenario or want to ensure you are 100 percent knowledgeable about a term, refer to this glossary. We not only provide definitions for each term — we will also provide specific links to other explainer pages on wide-ranging terms and topics. Let’s dive in!
Glossary was assembled with the aid of works by Sports Illustrated, ESPN, and WSN.
Accountant Betting slang for a bookmaker.
Accumulator The UK term for parlay, in which multiple bets are bundled together for larger payouts. All bets or ‘legs’ included in the accumulator must win for the overall bet to win.
Across the Board Horse racing term for placing equal bets on a horse to win, place and show.
Action Any wager; having a bet or stake on a game.
Ajax UK slang for the commission or “cut” levied by the bookmaker.
Also Ran An athlete, horse, or car that doesn’t finish first, second, third, or fourth.
Alternate Lines Adjusted lines, spreads, totals, and handicaps offered by sportsbooks with a corresponding change in the bet’s money odds.
American Odds A style of expressing money odds most commonly used in the US. Odds are expressed with a number preceded by a minus sign (favorite) or a plus sign (underdog). The numbers tell you how much you will win relative to how much you bet. Odds of -150, for example, mean you must wager $150 to win $100 in profit. If you bet on the underdog at +150, on the other hand, you will win $150 in profit for every $100 you bet.
Angles Pieces of information or other factors that influence the outcome of a game or a player’s performance. Gamblers who use extra information to get an edge are using “angles.”
Ante-Post The odds posted the day before an event. Usually, the gambler gets better odds but must risk losing their bet entirely if the selection withdraws from the event or is unable to participate.
Arbitrage Arbitrage is a clever betting strategy that takes advantage of different betting lines at different sportsbooks. By identifying a gap in the lines it’s possible to bet on both sides and guarantee yourself a profit. Arbitrage is similar to “betting the middle” when a casino’s line moves. Click here for a guide to arbitrage and betting the middle.
ATS A team’s “against the spread” record refers to how many times it’s beaten the point spread. A team that’s 3-2 ATS has beat the point spread three times and failed to beat it twice.
Backdoor Cover When a team is trailing the point spread by scores enough points late in the game to cover the spread.
Backer Someone who is bankrolling a gambler from behind the scenes.
Bad Beat A poker term that means losing when you’re the heavy favorite to win, sports gamblers also use the phrase bad beat. In sports, it usually means that something happened unexpectedly late in the game to cause you to lose your bet, such as a late turnover touchdown in football.
Bankroll Money set aside, or deposited into an account, that is used for betting. A player’s bankroll increases with each winning wager and decreases with each losing bet.
Beard Someone who places a wager on behalf of someone else.
Betting the Limit Wagering the maximum amount allowed by the casino or sportsbook.
Betting Ring An organized group of professional gamblers working together. Also called a syndicate.
Betting Line The odds or point spread on a game or event.
Bonus A special offer or promotion offered by a sportsbook where they give potential customers a free bet or bonus cash in order to entice them to sign up. Bonuses can also be given to existing customers.
Book The establishment that accepts wagers on the outcome of sports events (aka sportsbook).
Bookie A person who takes bets. Bookie usually refers to an illegal bookmaker.
Buck Slang for $100.
Bust Going broke, bankrupt, losing your bankroll.
Buying Points Sometimes gamblers are allowed to change the lines and odds set by the sportsbook. Buying points refers to a gambler changing the point spread on his bet. In order to buy points in favor of the team he’s betting on, a gambler must accept worse odds on the bet’s payout.
Canadian Line A combination of the point spread and the money line in hockey.
Chalk The favorite in a bet, event, or odds board (“betting the chalk” is betting the favorite, going “all chalk” in March Madness is taking all No. 1 seeds to reach the Final Four).
Circled Game A game in which the book reduces its normal betting limits.
Closing Line The official betting line set on a game or event before it begins.
Consensus Pick Consensus pick refers to how the betting public as a group have placed their bets on a game. Some bettors use a strategy that suggests betting against the consensus pick because the majority of people are usually wrong.
Cooler Someone who is thought to be bad luck.
Cover When the favorite wins by more than its required number of points, or the underdog loses by less than its allotted number of points.
Data Mining The practice of analyzing a large number of statistics in the hopes of discovering information that can help predict outcomes and performance.
Degenerate Someone with a gambling problem, or just someone who takes a lot of action.
Dime Betting slang for $1,000.
Dime Line A betting line with a vig of 10%
Dog Underdog, or the side expected/projected by oddsmakers to lose.
Dog Player A bettor who usually bets on the underdog.
Dollar Betting slang for $100. Confused, yet?
Double Action A bet that only plays if another connected bet that precedes it wins, ties or gets canceled.
Double Sawbuck Slang for $20.
Dual Forecast A bet used in horse and motor racing whereby three racers are selected. To win the best the gambler must successfully predict two of the selection’s finishing positions.
Edge A perceived betting advantage.
Even Money Bets that have a roughly 50 percent chance of winning and pay out 1 to 1 are said to be “even money” bets.
Exotic A special category of proposition bets that rely on specific outcomes other than which team wins the game.
Exposure The total amount of money a sportsbook or casino stands to lose on a game or event.
Favorite The player or team that is deemed more likely to win.
Fifty Cents Slang for $50.
Figure The amount owed either by or two a gambler or sportsbook.
First-Half Wager A bet placed on the outcome of the first-half of a game.
Fixed A game is said to be fixed if the outcome has been determined or influenced by unfair factors. A boxer who agreed to take a dive, for example, is “fixing” the match.
Futures Advanced bets on the outcome of a major event, award, statistic, or milestone.
Half-Time Bet/Wager A bet placed on the outcome of the second-half of a game, usually including overtime.
Handicapper One who studies and wagers on sporting events.
Handle The total amount of wagers taken.
Hedging Betting the opposite team or side of your original wager in order to either try to “middle” the game, or to reduce the downside exposure of the original wager.
High Roller Someone who makes lots of big bets.
Hold The percentage amount the sportsbook makes.
Hook A half-point in a bet, which prevents ties/pushes
Home-court Advantage The concept that teams typically perform better at home.
In-Game Betting Betting that takes place while a game or event is in progress (also called Live Betting).
Juice A commission built into betting lines. Also known as “the vig,” “vigorish,” or “the cut.”
Laying Points To bet the favorite by giving up points.
Laying the Odds/Price To bet the favorite by laying moneyline odds.
Layoff When a sportsbook makes its own bets with another casino or sportsbook in order to moderate its own risk.
Limit The maximum wager accepted by a sportsbook on a particular line.
Line The current odds or point spread offered on a bet.
Linesmaker (Oddsmaker) The person(s) who subjectively establishes the probability of one team (or side) defeating another and by how many points.
Listed Pitchers A bet on baseball that only plays if both of the scheduled starting pitchers actually start the game. If either of the pitchers fails to start the game, the bet is canceled.
Lock A bet on a surefire favorite that seems like an automatic win.
Longshot A team or player determined to be unlikely to win.
Mark Another name for a sucker. Someone who is inexperienced at gambling and easily exploited (“easy mark”).
Middle A betting scenario in which both sides of a point spread win.
Money Line An outright bet on which team or side will win, with varying odds/payouts. Instead of using a point spread to handicap the favorite, the sportsbook offers different payouts (odds) on each team.
Moving the Line The same as buying points, this refers to when a gambler can trade better money odds for an extra half-point on the spread.
Nassau A special golf bet that includes wagers on the front nine, the back nine and the entire match.
Nickel Slang betting term for $500.
Nickel Line A bet that has a 5 percent commission (vig/cut/juice).
No Action A bet that is canceled for any reason with the wager being fully refunded.
Odds The chances of winning assigned to each team by a casino or sportsbook, often represented by the different payouts you get for winning bets.
Off the Board A game for which the sports book is not accepting any bets.
Overlay Odds that appear to benefit the player more than they benefit the house.
Outlaw Line The earliest line set for a game or event which is only open to an exclusive group of gamblers.
Over/Under A type of bet that specifically involves the total combined score or total amount of wins/stat counts. Books list a “total” and bettors may bet on whether the outcome will be OVER or UNDER that defined amount.
Parlay Special bets that include two or more different wagers, usually on multiple games. For a parlay bet to win, all the individual bets included in it must win. Gamblers love parlays because even though they’re less likely to win, they offer huge payouts.
Pick-Em A betting scenario in which neither team is favored, e.g. 50/50, toss-up, or coin-flip.
Price The line or odds for a bet.
Prop Bets (Proposition Bets) Special bets that involve specific in-game events or stats that may not relate to the game’s ultimate winner or score. Particularly interesting props are sometimes known as exotics.
Puckline (Puck Line) In hockey, the puckline combines a 1.5 point spread with moneyline-style odds. For example, if you saw the Toronto Maple Leafs listed at -1.5/+120 that means for a bet on the Leafs to win, they must win the game by at least two points. The second number refers to the money odds and means you’ll win $100 in profit for every $120 you bet.
Punter A gambler. Punter often implies the bettor is a recreational gambler and not a professional.
Push Another name for a tie. In sports betting it can happen when the favorite wins by exactly the spread. All bets are refunded.
Risk-Free bet When a registrant signs up with a sportsbook and places their first bet. The first bet is risk-free — if they lose, their account will be credited back the amount they wagered. This reduces the initial risk for the bettor, and ensures the books better initial member retention.
Round-Robin A method of parlaying two or more teams in all possible team parlay combinations, as a way of hedging. For example, a three-team round robin of ABC can produce three separate two-team parlays: AB, AC and BC.
Runner A person who makes a bet on behalf of someone else. Also called a beard.
Runline (Run Line) A -1.5/+1.5 point spread used in baseball that’s combined with money odds.
Same-Game Parlay (SGP) A parlay with multiple bets — including prop bets — from the same game. To win an SGP, every leg of the bet must win. Also called single-game parlay, One-Game Parlay.
Sawbuck Slang for $10.
Score Slang for winning a lot of money on a bet.
Sharp A professional gambler.
Side When one side of a bet wins and the opposite side ties.
Spread Another way to say point spread.
Square 1. An inexperienced, recreational gambler. 2. 1/100th of a Super Bowl squares pool.
Steam Slang for when a betting line is moving up because lots of bets are being made on it. Sometimes this happens when an organized group of professionals are taking advantage of a weak line but it can also happen when most of the general public is betting the same way.
Store Slang for a sportsbook or casino that offers sports gambling.
Straight Up Winner A straight up bet means you just need the team to win the game outright as opposed to covering a point spread. Straight up usually refers to betting the money line.
Sucker A bad and/or inexperienced gambler who makes poor betting decisions.
Syndicate An organized group of professional gamblers working together, also called a ring.
Taking the Odds To bet the underdog in consideration of receiving moneyline odds.
Taking the Points To bet the underdog in consideration of receiving points.
Teaser A parlay bet that adjusts all individual legs by a certain amount of points. Teasers greatly increase win probability, but greatly reduce potential payouts.
Ticket A placed bet or wager.
Total (Points Total) The combined total points of both teams when the game finishes. Gamblers use the points total to make over/under bets.
Underdog The team that is predicted to lose the game.
Value Your equity or edge on a bet. Usually used to refer to particularly good lines or odds.
Vig (Vigorish) Also called “juice” the vig refers to the commission on bets charged by the casino or sportsbook.
Wager Another name for a bet.
