Sports Gambling Glossary
All the sports betting & gambling terms with definitions you need to know
Betting College Baseball and sports betting in general can be confusing and intimidating if you are a novice. As with any niche, sports betting has its only language and slang terms.
That’s why we have put together our sports gambling glossary. We believe it is most comprehensive list of sports betting terms and definitions known. We encourage you to bookmark this sports gambling glossary list of terms and definitions and refer back to it should you hear or encounter an unfamiliar word.
The top 20 most commonly used sports gambling glossary terms were revealed in Episode 2 while the remainder were covered in Episode 3.
If you find this list does not include a term that we have accidentally omitted or a new term has evolved, please leave a reply in the comments at the bottom.
In alphabetical order:
A
Action: A bet or wager.
Added game: Appear on betting boards after main lists are posted. They are common in college football and mainly appear due to public demand. An added game may also be a postponed match, like a rainout in baseball, from the previous day.
Against the spread (ATS): The result of a game including the point spread. Spreads are designed to create equal action on both sides of a competition, essentially leveling the playing field. In baseball wagering, spreads are referred to as Run Lines or by how many runs scored a team will win by. Bettors may have a choice between College A as a -1.5 runs ATS favorite at home versus College B as a +1.5 run underdog on the road.
B
Backdoor cover: Occurs when a score helps bettors cover a spread bet but doesn’t affect the game winner. Let’s say Virginia is the road team playing at Clemson and they are -1.5 on the run line or ATS. For this example. Virginia is 6 to 2 heading into the bottom of the ninth inning. In the bottom of the ninth, Clemson mounts a valiant comeback and scores three runs but Virginia ends up winning the game 6 to 5. With the run line or the spread at 1.5 runs, in the sports books, Clemson would be the winner via a backdoor cover. They covered the spread but lost the game outright. Backdoor covers are more prevalent in football and basketball with a garbage time touchdown as time expires or a half court three point buzzer beater when a team is down by 10. Backdoor covers happen less frequently in college baseball but they do happen for those betting on run lines.
Bad Beat: Players experience a bad beat when a wager is on the verge of winning but then becomes a losing ticket. A bad beat will often occur when points are scored late in a match. Backdoor covers are considered a bad beat and overall, typically happen when one team has been covering the entire game only for it to slip away in the final moments of the game. A walk off home run would fall into the bad beat category if the bettor was on the other team to win.
Scott Van Pelt of ESPN even has a Twitter/X account dedicated to Bad Beats.
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.
Bankroll Management: Much like managing a personal bank account, bettors should practice proper bankroll management. Setting wagering limits, shopping for the best odds value, plus only wagering what one can afford to lose, are keys to properly managing a sports betting budget.
Bet: Any wager involving money wagered at a sportsbook, casino, racebook or poker room. Pretty straight forward.
Betting exchange: A middleman that isn’t a sportsbook or a bettor. An exchange posts bets with two sides and the betting option remains listed until both sides are bet on. Betting exchanges profit by taking a small commission from winning tickets. Because betting exchanges are not official sports books or casinos, these are legal in states which would otherwise outlaw sports wagering.
Think of it like peer-to-peer wagering. Two people sitting at a bar want to bet on opposite sides of the game. They both want to wager $100. Betting exchanges bring these two people together, usually online or via a mobile app. Betting exchanges charge a small fee for their service of bringing these two people together so the one-person betting on the perceived favorite will put up $101 while the other one puts up $100. With $201 in the pool, someone will win $200 and left over $1 goes to the betting exchange.
Betting exchanges have been slow to offer action on college baseball based on the low popularity up to now. With college baseball betting growing, more betting exchanges may start to offer college baseball as an option.
Betting system: Various and strategies that bettors use to get a leg-up on bookmakers. Primary betting strategies should include proper bankroll management and performing extensive research prior to placing wagers. Other strategies could include trends like betting for a low scoring game in ball parks with larger dimensions or on Friday nights because both team will be throwing their ace.
Book: Short for a bookmaker or sportsbook that posts odds and accepts bets.
Bookie: Short for a bookmaker. Bookie has taken on a negative connotation in that a bookie was an individual that would take bets in a state where sports gambling was illegal. Usually connected to organized crime, failure to pay your bookie could result in getting your legs broken by two guys named Moose and Rocco.
Bookmaker: A licensed individual who sets daily betting odds and accepts bets. Also known as a linemaker.
Buck: Slang term for $100 bet.
Buy points: Bettors can buy points, using alternate point spreads and game totals, to gain a more favorable line. If a spread is set at +2.5 points a player can buy one point to move the line up to + 3.5 points. Added commission is attached to the odds increases with each point purchased. If the widely offered line is a -110 adding a half point could increase the commission to -120. The thought behind this is if the book will give the bettor an increased chance of winning, the bettor needs to put up more. In this case, instead of wagering $110 to win $100, you would have to put up $120 to win $100. Those betting need to weight out if the added points is worth the additional risk or lesser payout.
C
Chalk: Another term for favorite. The term chalk originates from the days when horse tracks didn’t have computerized screens or tickers. They had to write odds on chalkboards. Bettors took favorites more often (in that era and today), so those odds got more frequent updates on the board. Same thing applied to other sports like football and basketball. If one team was listed in chalk at -4, the opponent is getting +4. No need to waste chalk writing in odds for both teams as odds change as betting progresses.
Chalk bettor: A player that bets on favorites with the majority of their wagers
Cash Out: Used by sportsbooks to lessen their vulnerability and exposure on a particular game. Some sportsbooks will offer a cash out option on parlays or teasers if a large parlay needs one or two games to win. For example if a bettor placed an 8 game parlay and 7 of the 8 games have won in the favor of the bettor, the sports book may offer a cash out option as if the bettor hit a 7 leg parlay and the final game will be wiped off and canceled. Should the 8th and final game in this example go in the favor of the bettor, the sports book lessens their losses by offering a smaller payout than had the entire parlay became successful.
Chasing Money: Poor bankroll management when a bettor loses bets earlier in the day and then tried to make it up by betting larger amounts on later games. They are essentially chasing the money they lost by making other bets on games they may not have researched or do not have a good feel for the teams playing. Sometimes as a sports gambler, you need to take your losses and realize that day was a rough one and move on. Chasing money almost always results in more losses.
Circled Game: Contests that have set betting maximums, which are capped at low amounts. Games are usually circled when bookmakers face unknowns such as player injuries, weather or rumors that surface prior to a match. Opening odds and prop options are often circled as well. Typically, circled games can not be included in parlays or teasers. Basically think of as circled game as a red flag and game that has lots of questions surrounding it so the sports book wants to limit their liability.
Closing line: The final betting odds posted prior to the start of a competition. Depending on numerous factors but most notably, betting action on one side or the other, closing lines can be very different from the line when it opened.
Closing Line Value (CLV): This is achieved when a wager is placed and locked in on a particular side early and the line moves against the bettor. For example, if Stanford starts the week as a +135 underdog but at first pitch, Stanford is now considered the favorite at -110, that is closing line value. The line closed worse than when the original bet was placed, and those that bet early before the line moved, got value over the closing line.
Co-favorite: Two or more sides with identical odds to win. Common with futures odds, bookmakers may post co-favorites to win the College World Series.
Commission: Another term for vigorish and juice, commission is the bookmakers take on any bet. It is also the amount a betting exchange takes from winning wagers.
Consensus: Percentage of the betting public on each side of a game. Some bettors will bet against the “public money” (whichever team more bettors have placed their bets on).
Cover: The betting outcome on a point spread or point total bet. For a favorite to cover, it must win by a number higher than the spread. An underdog can cover by losing by a number less than the spread or by winning the game outright. On game totals, an under cover wins when the two teams combine for total points under the projected total. The opposite occurs when both teams combine for points over the projected total, resulting in an over cover.
D
Dime: A $1,000 bet.
Dog: Short for underdog, a dog is perceived as the least likely side to win and is tagged with plus pricing. Atlanta would be a dog if the Braves moneyline is set at +125 and the Houston Astros are posted with -120 odds in baseball.
Double Action: Also known as an “If bet”. A double action bet automatically takes the stakes and/or winnings from a successful wager and places that amount on a second betting option. Think of it as betting on a game that starts at noon and another game that starts at 4 pm. It assumed that the noon game would end before 4 pm and the bet would be graded by that time. If the noon game ends up being a winner, the winnings would then be placed on the 4 pm game. This is a type of bank roll management so a bettor can use their winnings on other games while reserving their bankroll if a bet loses.
Double Bet: A betting amount that is double a bettor’s normal wager. Bettors often double their bet when they feel one side is vastly superior to another.
Double Result: A single betting option that combines the score of a game at halftime and the score at the end of the same game. Not very common in baseball wagering.
Dollar: A $100 bet.
Drift: Betting odds that grow longer after the opening line is posted. A moneyline that moves from +220 to +225 to +230 is said to be drifting.
E
Edge: Gaining an advantage through extensive research or having insights that are not publicly known.
Even money: Odds that return the exact amount of the original bet. A $100 bet on +100 odds would return a $100 profit.
Exotic Bet: Betting options beyond point spreads, moneylines and game totals. Proposition bets, specials and parlays are the most common types of exotic bets.
Exposure: Amount of money a bettor or bookmaker stands to lose on any given wager.
F
Fade: A Fade refers to a wager against a particular person, team or market. This term is commonly used when a bettor dislikes a bet and consequentially bets against it, or actively chooses to avoid betting on the game due to it being a risky situation. In wall street investing terms, fading a team or advice is like shorting a stock. You are ignoring that advice or actively betting against a team because their star player is injured or they recently fired their coach.
A fade can come about when a bettor is given advice to bet on something, but they choose to fade that advice as they don’t agree with it. The phrase “Fade the Public” is used to describe avoiding betting games recreational bettors prefer as they typically bet emotionally and without solid knowledge and research to back up their bets..
Favorite: A team projected to win a game. Any side priced with a negative number is the favorite and is said to be giving points or runs to the other team. A favorite will start the game already in the negative and will need to make up those points or runs in order for those betting on the favorite to win their bet.
First Five: Baseball bettors can wager on total runs scored, who will be winning or covering a certain run line at the halfway mark in a baseball game after the fifth inning is complete. Much like halftime is used in football or basketball, the first five is considered to be the halfway mark in baseball wagering.
Fixed odds: When a wager is placed, and a bookmaker accepts it, the line becomes fixed odds. If a bet is placed on the over/under at 9.5 and the line moves down to 8.5 prior to the game, players who purchased the under 9.5 retain the previously accepted fixed odds. If the game ends with a total of 9, the bettor who took under 9.5 will win but the one who got on the under 8.5 would lose. Locked odds is also used to describe this.
Flat: Odds that do not include a half point. You may hear, “The total went from an 8.5 to now an 8 flat.” Just means the number could land exactly on 8 and generate a tie or a push.
Follow: Opposing of fading is when a bettor chooses to follow advice and bet the same. For example, someone says, “I took Indiana at -110.” And the person that hears that chooses to place the same bet, that is a follow. Also called a tail as someone is thought to be following someone’s tail to place the same bet.
Futures Bet: A wager placed on an event that will take place in the near or distant future. Betting on the winner of the College World Series and conferences and even division within conferences has become more and more common with rise in college baseball popularity.
G
Game Total Bet: Over/Under betting on how many goals/points/runs will be scored in a game. If a baseball game total is set at 7.5 runs, bettors need to decide if the combined total runs in that contest will be over or under seven runs.
Graded Bet: A wager that bookmakers officially mark as a winner, a loser, or a push, once a competition has ended. Winnings, or push refunds, are paid out after a bet has been graded. In baseball, if a game is being played under protest, graded bets may take longer to be graded in case it is determined the game needs to be resumed from the time the protest was logged.
H
Half Points: Half points are added to ensure there is a winner no matter if the game final score ends exactly on the projected total or point spread. This ensures there is a winner and avoids a tie or in sports gambling terms a push, which results in the sports book refunding everyone their money as if the game never happened or was canceled.
Handicap: Betting odds set by a bookmaker that are designed to level the playing field. New Orleans may have a -7.5 point handicap, before or during the game, when they play a perceived weaker Atlanta squad. If the Saints win by eight or more points – they cover the handicap and produce winning wagers.
Handicapper: A bettor who researches matchups and then places a bet. Also applies to tipsters who publish predictions on various sporting events.
Handicapping: Researching sports statistics to pick winners.
Handle: Total amount of money a bookmaker accepts on a single game or event. The total handle bet on Super Bowl 54 in Nevada was $154.7 million. Bookmakers earned an $18.8 million profit when Kansas City completed a come-from-behind win over San Francisco.
Hedging: Betting opposite of a previous bet to guarantee winning at least a small amount of money. Most common with parlay betting and as a risk management tool. Hedging a bet consists of betting on the opposite side of an original wager to set up a guaranteed return. A hedge bet may also be placed to reduce the initial risk on a potential losing wager.
Holding Your Own: A bettor who is on a streak where they aren’t winning or losing but rather just breaking even on a series of bets. Think of it like treading water.
Home Field Advantage: The perceived benefit a team gains when playing in familiar settings at their home stadium. In baseball home field particularly plays into account with dimensions varying from ballpark to ballpark.
Tennessee’s Lindsey-Nelson Stadium is considered to be on the smaller size with Dimensions at the NCAA minimum at 320 feet to the left and right field foul poles, 360 to the power alleys and 390 to dead center. This is considered a home field advantage because the smaller outfield can produce more home runs than a ballpark with fences further away from home plate. Home field advantage can come into play with the number of fans that typically show up to games, placement of the visiting team bullpen or even the size and amenities for the visiting team locker room.
Hook: A half point added to point spreads and game total odds. A hook guarantees a wager will not be graded as a push. One side will win and one side will lose. The origin of the term hook comes from the shape of the number five with the bottom part of the number looking like a hook. The hook can be a good or bad thing depending on which side your bet fell on the half point.
I
If Bet: A member of the parlay family, an If Bet consists of two or more wagers. On a two-team if bet, a player applies the stake and/or profit of a winning wager as a bet on a second game if the initial wager is successful. Also known as Double Action which we covered earlier.
In-game Wagers: Bets made after a game started. Also known as LIVE betting or in-play betting, bookmakers post multiple in-play betting options throughout games that have already started.
J
Joint Favorite: Two or more sides posted with the same betting odds on the same event. For example, Tennessee and LSU are listed at +150 odds to win the college World Series. They would be joint or Co-Favorites.
Juice: Also known as vigorish, juice is set by bookmakers and is attached to spread and total betting options. If Minnesota -3.5 (-110) versus Green Bay +3.5 (-110) has $110K wagered on both sides, bookmakers earn $10K profit from the juice on the losing bets.
L
Laying Points/Runs: Betting on a favorite. A wager on Dallas, as a -2.5 point favorite over the LA Rams, is laying 2.5 points. The Cowboys need to win by at least three points to cash a winning ticket. Laying runs is the same thing only a baseball team is starting the game in the negative -1.5 runs or more.
Leg: Commonly used when describing the number of games included in a parlay or teaser. A five-leg parlay includes five games in which they all need to win or cover in order to make it a winning ticket. The game that starts after the previous games have finished is called the last leg. Nobody remembers the ticket when the second leg failed to cover but everyone remembers the last leg losing on a ticket that could have cashed big winnings. We will cover parlays and teasers later.
Liability: The amount of exposure a sports book may have on one side or the other. Same thing goes for a player, their liability represents how much of their bankroll they have risked on a certain game or period of time.
Limit: The maximum allowed wager on a single bet. Bookmakers set various high and low wagering limits that vary by sport and betting options. As part of a proper bankroll management system, players should set and follow personal betting limits.
Line: Betting odds posted by a bookmaker. Also called the spread.
Linemaker: Same as a bookmaker, a person or group that sets daily betting lines and prices. Linemakers will set the initial odds for the sports book to post.
Listed pitchers: Appear with daily baseball betting odds. If a listed pitcher doesn’t start the game, bets are usually voided and the original stakes are returned. Since college baseball betting is still getting its feet wet, most games do not list the starting pitchers. This could change once betting college baseball gets more popular and commonplace.
Live Betting: Also known as in-game wagering, live betting is offered once a sporting event begins. Spreads, moneylines and totals are adjusted and re-posted as games play out. Depending on the sports book, live betting on college baseball may be limited or not offered at all.
Load up: Making a wager that is above average in size. Typically indicates a strong opinion on one side of a game that a larger than normal wager is placed. You may hear someone say, “Man, Texas can really hit the ball over the fence. That’s why I loaded up on the over 7.5 in that first game.”
Lock: A perceived winner that can’t lose. Although you may hear someone say, “This is the can’t miss, lock of the week.”, understand that unless they are a time traveler, nothing is a sure thing.
Locked odds: Another term for fixed wager. Betting a game early before the lines move is getting locked odds or locked in. Someone might say, “the money line is now +110 but I locked it in when it was +150.”
Long Shot: A large underdog. A perceived inferior side that is also known as an underdog. Long shot prices are always displayed as positive prices. The New York Jets, with a +9.5 point spread, would be a long shot against the New England Patriots.
M
Middle: Cashing tickets on both sides of a betting option. Bettors have an opportunity to middle when a point spread moves up or down prior to a game. The most common way to middle out a baseball game is to bet on the over total and if the line moves a number of runs higher, you can now bet on the under. Let’s say a game opens at 7.5 runs and you bet the over. The total at the time of game has moved to 9.5 and you then bet the under. If the game ended 5-3, you would cash you over and under bets because the game ended in the middle.
This can also be achieved during live betting when an underdog gets out to a large lead that the pre-game favorite has now been marked an underdog and is getting runs. If you bet the side now getting points, you are guaranteed a winning ticket no matter who wins and can possibly middle.
Moneyline Bet: A bet made if a team will win or lose outright with no point spread. Favorites are posted with a negative (-185) odds while underdogs are listed with a positive (+165) price. Moneyline bets are popular in baseball wagering because so many games are decided by one run and baseball teams do not need to win by margin.
N
Nap: Similar to a lock or a sure thing, a nap is a handicappers suggested best bet on a daily betting card. Not used very often but you do hear it sometimes.
Nickel: A $500 bet.
No Action: A game that is no longer taking bets and all wagers are refunded. Usually results in a game that has been canceled most commonly for weather.
Novelty Bets: Another name for exotics. Prop and special betting options that are wagers beyond standard moneyline, point spread and game total odds. Team and player propositions are the most common novelty bets.
O
Odds: Betting lines set by a bookmaker on a variety of events. These can encompass run lines, over/unders, money lines, exotics, etc.
Oddsmaker (Linemaker): Someone who sets the opening line on a game.
Odds on favorite: One side that is viewed as far superior to the other and is priced with odds that offer very little value. In baseball, these are typically represented by a moneyline at -400 or higher or with run lines of -3 and up. You would need to risk a lot to win very little.
Odds Shopping: Reviewing the lines at a variety of sportsbooks in order to find the best priced odds. This can include lines that offer less juice for the same run line or run lines that are a half or a full run different. Depending on the side you prefer, odds shopping can be the difference between winning or losing a bet if the game falls close to the line.
Off the Board: Shortened to OTB, off the board games are displayed on betting boards but don’t have odds attached to them. An injury to a star player may cause bookmakers to pull odds off the board.
Opening Line (Opener): The opening line reflects the original adds posted at a sports book. These odds can move up or down based on betting trends, a sports book liability on one side or the other, weather information, player availability, etc.
Outright betting: Predicting the overall winner of a tournament or playoff competition. You will see this more as regionals, super regionals and College World Series fields are announced.
Over: The combined score of two teams is more than what the sportsbook set. If the total on a Miami vs. South Carolina game is set at 7.5 runs, players who place over bets need the combined final score to be 8 runs or more.
Over/Under: A number posted on how many runs/goals/points will be scored in a match. Bettors need to determine if the combined scores of both teams will go over or remain under the number. Also known as game total odds.
P
Parlay: A bet that combines multiple games for a higher payout. The more games, the higher the risk but the greater the payout. In order for the parlay to win, each game must win or push (tie). If any of the games lose, the entire wager loses. Depending on the sportsbook, a push may be considered not a win and the entire parlay loses. Other books view a push as a voided bet and, for example, a five leg parlay with four winners and one push would pay as if the four leg parlay was placed and the push bet was never added to the card. Make sure to read your book’s term and conditions before placing parlays.
Payout: The amount a bettor collects on a winning wager. When a wager is placed, the possible payout on a betting receipt usually includes the original stake. For example a $110 ticket on a game with -110 juice, the payout will $100. The total collected on that ticket should it win would be $210. The original $110 placed and the $100 winnings.
Pick’em: A game with no favorite or underdog. This is essentially a moneyline bet but the book will include their percentage as they are providing the service of taking action on the game.
Point spread: Margin of victory set by oddsmakers to attract betting action on both the favorite and the underdog. A favorite must win by a number higher than the point spread to cover the spread. An underdog can cover by losing by a number less than the spread or by winning the game outright. In baseball betting, this is also called the run line.
Portfolio: The total number of wagers a bettor may have on a particular day or certain sport. Bettors who only bet one game or one sport have limited portfolios compared to those that might have multiple bets for a weekend across a number of different sports.
Proposition Pets (Prop): A bet on anything that is not directly tied to the outcome of the game. For example, it can be the first team or the first player to score in a game. Popular props in baseball include betting over or under many batters a pitcher will strike out, how many total bases a player will achieve, if a player will or will not hit a home run in that game, etc.
Public money: Amount wagered by the general public on any betting option. The public is considered to be recreational bettors with smaller bankrolls than professional bettors. Public money can move lines up or down but it happens gradually compared to a professional bettor risking a large amount of money on one game.
Push: When neither team covers the spread (the actual margin of victory lands exactly on the spread or total), no one wins the bet and all wagers are refunded.
R
Rake: Commission, vig or juice. Left over term from poker rooms that when a certain bet limit has been reach, they take a percentage of the pot as their fee for hosting the poker game.
Recreational Bettor: A player that bets infrequently or on major sporting events only. Rec player bets are counted as public money. Opposite of a sharp or professional bettor.
Rotation Number: The Rotation Number refers to a numbering system used by Las Vegas to order bets. It is sometimes also used by Sportsbooks to assign unique identifiers (IDs) to markets. Think of rotation numbers like numbers on horses. If you like the No. 6 horse to win in the second race, you would place the bet using the horse number rather than the horse’s name. The same thing applies to games and their rotation numbers. Online wagering has reduced the usage of rotation numbers but if wagering in person, telling the clerk the rotation number will help them punch it up in the system rather than searching by team name.
Round-Robin: A round robin in sports betting is really just a series of smaller parlays created from a larger list of bets. It gets its name from a round-robin tournament, in which every team plays every other team in its group. The idea is the same. Instead of playing each other, the teams form parlays together.
Say you target three teams for your round robin. Confidence is high but as you know, if one leg of the parlay loses, the entire ticket loses. By doing a round robin, you are also placing smaller parlays with those teams you have selected. For example, you like Stanford, Texas Tech and Southern Miss all to win. By doing a round robin, you’d get one parlay with Stanford and Texas tech., one with Stanford and Southern Miss, and one with Texas Tech and Southern Miss. You can choose to parlay all three making it a total of four parlays one with all three teams and three with a combination of two teams.
So why would you want to bet a round robin, anyway? It allows you to instantly create parlays without having to actually create the parlays individually using the same teams. If you select 5+ teams, it can create dozens and even hundreds of parlay combinations.
And of course, different parlays have nicknames for each. A few are:
- Double: Single parlay ticket with two sides.
- Treble: Single parlay ticket with three sides.
- Trixie: Three sides create three double bets and one treble bet. Much like the example we gave earlier using Stanford, Texas Tech and Southern Miss.
- Patent: Three sides create three single bets, three double bets and one treble bet.
- Yankee: Four sides create one four-leg parlay, six double bets and four treble bets.
- Lucky 15: Four sides create four single bets, one four-leg parlay, six double bets and four treble bets.
- Lucky 31: Five sides create one five-leg parlay, five four-leg parlays, five single bets, ten double bets and ten treble bets.
As you can imagine, online wagering may make these nicknames go by the wayside as in-person wagering at a sportsbook shrinks.
Runline: Another name for point spread applied to baseball. Baseball typically has a point spread of -1.5 for the favorite and +1.5 for the underdog. Instead of calling it a point spread since baseball does not score points but rather scores runs, it’s called a run line.
S
Same-Game Parlay: A Same Game Parlay (also known as an ‘SGP’ or a ‘Same Game Multi’) refers to a parlay bet that contains legs all within a single sporting contest. Not all markets can be combined in a Same Game Parlay and it can differ between Sportsbooks. But an example of a baseball same game parlay is taking one team on the money line and the under. If that team wins and the total runs scored is under the total, that parlay wins.
Side: Typically refers to the run line or money line for a particular team. Means you are betting on one side of this game, either the home or the visitor. Both teams will combine for each side of the total for the over/under. Betting a side means taking a position on one team in a game.
Sharp: A professional sports bettor. Also, Wiseguy and Shark is often used to describe a pro bettor. Sharp also insinuates that someone has insider knowledge on a team or a particular game.
Spread Betting: Taking or laying points when betting on a competition. Selecting Los Angeles at -7 point odds against New York (+7) is a spread bet. The Rams need to defeat the Giants by at least eight points to cash a winning ticket. Bettors lay the spread with favorites and take the spread with underdogs.
Square: A term used to describe an inexperienced or recreational bettor who often bets based on emotions or popular opinion. Also used to describe a chalk bettor. Somone who typically doesn’t take risks and prefers the safer side and takes favorites.
Stake: The amount of money a bettor risks when placing a bet. Original stakes are returned on all winning wagers and many bets that are graded as a push.
Steam: A quick change on a line due to heavy wagering. Sharps or betting syndicates can steam a side or total up or down depending on how much money is wagered. Sports books will adjust their lines to encourage betting on the other side to counter the amount of liability they have to those bettors on that side.
Straight bet: A single wager on moneyline, spread or game total betting options. The most common wager made at sports books.
Sweat: A close game that can fall either way all the way until the end of the game. If a bettor wagers on the under and the home team mounts a rally in the bottom of the ninth that could score enough runs to push the game to the over, that bet is called a sweat. The bettor is nervous and sweating it out over holding a winning ticket that is close to losing.
T
Tail: Also known as following. To tail another bettor is to make the same bet they made.
Taking Points/Runs: A bet placed on an underdog side. Bettors who wager on Washington as an underdog, with a +1.5 run line, are taking points on a baseball bet. Tickets cash if the Huskies win outright or lose by one run.
Teaser: Any line moved up or down by a bookmaker to entice or tease bettors. Players can tease odds on a single game by using alternate lines. In football sports books usually offer bettors to add or subtract six points from the side or total. In basketball, standard teasers will add or subtract four points. Teasers are typically not offered on baseball games since one to two runs to a side or a total could be the different in a baseball game.
Ticket: A receipt issued by a bookmaker to confirm a wager has been accepted. If placing a wager at a land-based sports book, this is how you can prove you laid the bet. Online sports books do offer receipts you can print but it is not necessary to collect or have your account credited with the winnings.
Tilt: Originally a term used in poker, is when you play poker poorly, making even a single play that you know is bad strategy, because your emotions are interfering with your ability to think. You could be on tilt because of a backdoor cover resulted in a bad beat. Going on tilt can result in chasing money and making bets on teams you don’t know much about or betting larger amounts of money than your normal bet size.
Total Bet (Over/Under): A bet on the combined number of points scored by both teams in a game, including overtime/extra innings.
Tout Service: A Tout Service is usually a business, but can be an individual, that gives or sells betting advice or picks.
U
Under: The combined score of two teams is less than what the sportsbook set.
Underdog: Perceived to be the inferior side, underdogs are posted with a positive number. If Washington is listed with (+280) odds, in a match against Dallas, the Commanders are the underdog and must win outright to cash a winning NFL moneyline ticket.
Unit: Term used for a normal or regular wager amount without giving out the actual dollar amount placed. A unit could represent $10 or $100 for a smaller bankroll player while a unit could be $1,000 or $10,000 for someone with a larger bankroll. This way bettors can share their bets without disclosing about how much they wager to someone that may not have that large of a bankroll. A unit can vary from player to player but can be applied to others based on what their unit size may be.
V
Vigorish: Also shortened to vig. Another term for juice. Standard vigorish pricing is (-110) and bettors need to wager $110 to earn a $100 return.
W
Wager: A get placed at a sportsbook.
Wise Guy: Handicappers, sharps and professional bettors with vast knowledge of the sports they bet on.