A–Z Reference
Sports Betting Glossary
A complete reference of sports betting terminology, from beginner basics to advanced concepts. Click any letter to jump.
A
- Action
- Any wager placed on a sporting event. Also used to describe heavy betting interest on one side.
- Against the Spread (ATS)
- A bet placed against the point spread rather than on the outright winner. Teams are evaluated by their ATS record alongside straight-up record.
- Alternate Line
- A spread or total adjusted from the main line, offered at modified odds. For example, an alternate -3.5 might be offered alongside the standard -2.5.
- American Odds
- The default odds format in the US. Negative numbers (e.g. -150) show what you must stake to win $100. Positive numbers (+150) show what $100 wins.
- Arbitrage
- Placing bets on opposing outcomes at different sportsbooks to lock in a guaranteed profit due to line discrepancies. "Arb" for short.
- Asian Handicap
- A soccer-specific spread system using quarter-point increments (e.g. -0.25, -0.75) to eliminate the possibility of a draw.
B
- Backdoor Cover
- When a losing team scores late, garbage-time points to cover the spread without affecting the outcome. Devastating for the favorite, fortunate for the dog.
- Bad Beat
- A bet that loses in unlikely or last-second fashion. The universal language of sports bettors.
- Bankroll
- The total funds set aside for sports betting. Should be money you can afford to lose entirely.
- Beard
- A person who places bets on behalf of another, usually to hide the real bettor's identity from sportsbooks.
- Book / Bookmaker
- A sportsbook; the company that accepts wagers and sets odds.
- Buying Points
- Paying extra juice to shift a spread or total in your favor (e.g. moving from -3.5 to -2.5 at increased -130 odds).
C
- Cash Out
- An option offered by sportsbooks to settle a bet early, before the event ends, at a calculated value that includes a house margin.
- Chalk
- The favorite. "Betting chalk" means betting on the favorite. Public bettors typically bet chalk.
- Closing Line
- The final odds offered before a game starts. The most informed line of the market.
- CLV (Closing Line Value)
- The difference between the price you got on a bet and the closing price. Beating the closing line consistently is the strongest indicator of long-term profitability.
- Cover
- When a team beats the point spread. "The Patriots covered -7" means they won by 8 or more.
D
- Dead Heat
- A bet result where two or more participants tie, often used in golf and racing. Payouts are reduced by the dead-heat rule.
- Decimal Odds
- European odds format showing total return per unit staked (e.g. 2.50 means a $1 bet returns $2.50 total).
- Dime
- A $1,000 bet. "I bet a dime on the Pats." A "dime line" is a 10-cent line.
- Dime Line
- A baseball moneyline where the gap between favorite and underdog is just 10 cents (e.g. -120/+110). Tighter is better for bettors.
- Dog
- Short for underdog. The team perceived as less likely to win.
- Drawdown
- The reduction in bankroll from peak to current. A normal feature of betting; even profitable bettors experience drawdowns of 20-40%.
E
- Edge
- A measurable advantage over the implied probability of the line. Long-term profitability requires consistent edge.
- EV (Expected Value)
- The mathematical average outcome of a bet over many repetitions. Positive EV (+EV) bets are profitable long-term; negative EV (-EV) bets lose long-term.
- Even Money
- A bet that pays exactly the amount staked (American +100, decimal 2.00).
- Exotic
- Any non-standard bet type, typically referring to props, parlays, or unusual market structures.
- Exposure
- The maximum amount a sportsbook (or bettor) could lose on an event or market.
F
- Fade
- To bet against. "I'm fading the public on this one" means betting against the popular pick.
- Favorite
- The team or outcome expected to win, indicated by negative odds (e.g. -150).
- First Half (1H)
- A bet specifically on the score or outcome at halftime, separate from the full-game wager.
- Flat Bet
- Wagering the same fixed amount (one unit) on every bet regardless of confidence. Reduces variance.
- Fractional Odds
- UK odds format expressed as a fraction (e.g. 3/2 means winning $3 for every $2 staked).
- Futures
- A wager on an outcome that resolves weeks or months in the future, such as a championship winner or season MVP.
G
- Grand Salami
- The over/under on the total combined goals or runs scored across all games on a given day in MLB or NHL.
H
- Half Point (Hook)
- The .5 added to whole-number lines to prevent pushes. Often called "the hook."
- Handicap
- The points added to or subtracted from a team's score to even out the betting matchup. Same as the spread or line.
- Handle
- The total amount of money wagered at a sportsbook over a given period.
- Hedge
- Placing an opposing bet to lock in profit or reduce loss on a prior wager. Common before the final leg of a winning parlay.
- Hold
- A sportsbook's gross profit margin on a market. Calculated as the implied probability sum of all outcomes minus 100%.
- Hook
- The half-point on a spread or total (e.g. -3.5 is "-3 and a hook").
I
- Implied Probability
- The probability of an outcome implied by the odds. -150 implies 60%; +150 implies 40%. Includes house margin.
- In-Play (Live) Betting
- Betting on a game while it is in progress. Lines update continuously.
J
- Juice (Vig / Vigorish)
- The sportsbook's built-in commission on a wager. The "-110" on a standard spread is juice; you risk $110 to win $100.
K
- Kelly Criterion
- A formula for optimal bet sizing based on perceived edge and odds. Often used at fractional Kelly (¼ or ½ Kelly) to reduce variance.
- Key Number
- A common margin of victory in a sport. In NFL, 3 and 7 are key numbers; in NBA, 5 and 7 carry less weight.
L
- Limit
- The maximum amount a sportsbook will accept on a market or event. Limits scale with market liquidity.
- Line
- The point spread, total, or moneyline odds for a given game. "The line moved" means the odds changed.
- Listed Pitcher
- A baseball wager that only counts if both starting pitchers take the mound as announced. Protects against rotation changes.
- Live Betting
- Same as in-play. Wagering as the game unfolds, with continuously updating prices.
- Lock
- A bet someone believes cannot lose. In practice, no such thing exists; and "locks" lose at unsettling rates.
- Long Shot
- A bet with very low probability and very high payout (e.g. +2000 or higher).
M
- Middle
- Winning both sides of a game when the final score falls between two different spreads or totals at different sportsbooks.
- Moneyline
- A straight bet on which team will win, with no spread. Priced in American odds.
N
- No Action
- A wager that is voided and refunded; typically due to cancellation, postponement, or rule conditions not being met.
- No Vig (Fair) Odds
- Odds calculated by removing the sportsbook's built-in margin. Used to estimate true probability.
O
- Odds
- The price offered on a wager, expressed in American, decimal, or fractional format.
- Off the Board
- A game removed from active betting markets, usually due to uncertainty about player availability.
- Over / Under
- A bet on whether the combined score will be above or below a posted total.
P
- Parlay
- A bet combining two or more legs. All must win for the parlay to cash; payout multiplies.
- Pick'em (Pick)
- A game with no point spread; both teams are even. Bettors simply pick the winner.
- Point Spread
- The margin of victory required for a bet to win. The favorite "gives" points; the underdog "gets" points.
- Prop Bet
- Short for proposition bet; any wager on something other than the game outcome (e.g. player stat over/under).
- Public
- Recreational bettors. Sportsbooks often shade lines to attract or repel public money.
- Puck Line
- NHL spread, almost always set at -1.5 / +1.5. The favorite must win by 2 or more goals.
- Push
- A bet that lands exactly on the spread or total, resulting in a refund.
R
- Round Robin
- A wager that builds multiple smaller parlays from a larger pool of selections; e.g. all 2-team parlays from 4 picks.
- Run Line
- MLB spread, almost always set at -1.5 / +1.5.
S
- Same-Game Parlay (SGP)
- A parlay combining multiple bets from a single game, with correlated outcomes priced at adjusted odds.
- Sharp
- A professional, profitable bettor. Sharps move lines through volume and informed action.
- Spread
- Same as point spread. The margin by which the favorite must win.
- Square
- An unsophisticated, casual bettor. Often used to describe public action on popular teams or primetime games.
- Stake
- The amount of money wagered on a bet.
- Steam
- A sudden, rapid line move caused by heavy money landing on one side. "Steam move" follows the action.
- Straight Up (SU)
- The outright result of a game, regardless of the spread. "Patriots won straight up but lost ATS."
- Sucker Bet
- A wager with high house edge and low expected value, typically appealing for emotional reasons.
T
- Total
- Same as over/under. The combined points/runs/goals scored by both teams.
- Tout
- A service or person that sells betting picks, often with misleading win-rate claims. Generally a sucker industry.
- True Odds
- The actual probability of an outcome, without the sportsbook's built-in margin.
U
- Underdog
- The team expected to lose, listed with positive odds (e.g. +150).
- Unit
- A bettor's standard wager size, typically 1-2% of bankroll. Used to measure profit/loss across stakes of varying dollar amounts.
V
- Variance
- The natural up-and-down swings in betting results. Even profitable bettors experience significant variance.
- Vig (Vigorish)
- The sportsbook's commission built into the odds. Same as juice. Standard NFL spread vig is about 4.5% (-110 / -110).
W
- Wager
- A bet. The amount of money risked on the outcome of an event.
- Welcher
- A bettor who fails to pay losing wagers. Mostly relevant to private/social betting, not legal sportsbooks.