Comprehensive A-Z Sports Betting Glossary
Discover the meanings of key terms and phrases commonly used in the sports betting industry.
Use the search below to easily find precise and clear definitions. Ensure correct spelling for the best results, and navigate quickly and securely through our glossary.
A
- Acca: Abbreviation for “Accumulator”. A bet that combines multiple selections, all of which must win for the bet to succeed.
- Accumulator: A type of bet where multiple selections are combined into one wager, requiring all selections to win.
- Across the board: A bet in horse racing where you bet on a horse to win, place, and show.
- Action: Any bet that a bookmaker accepts.
- Added game: An additional event not originally on the betting schedule.
- AET odds: Odds offered on an event that extends into extra time.
- Agent: A person who places bets on behalf of another.
- Also ran: A participant who does not finish in a prominent position.
- Alternate lines: Betting options with different point spreads, usually with adjusted odds.
- American odds: A format of odds used in the United States, indicating how much would be won on a £100 bet.
- Ante-post: A bet placed in advance of an event, typically in horse racing.
- Arbing: The practice of placing bets on all outcomes of an event to secure a profit.
- Arbitrage: A betting strategy where all possible outcomes are covered, ensuring a profit due to differing odds.
- Asian Handicap: A betting system that eliminates the draw by applying a handicap to the weaker team.
- ATS (Against The Spread): A bet where a team must cover the bookmaker’s spread.
B
- Backdoor cover: When a team scores late to cover the spread unexpectedly.
- Bad beat: A losing bet that seemed likely to win until the last moment.
- Bankroll: The total amount of money a bettor has set aside for betting.
- Bankroll management: The strategy of managing your bankroll to minimise risk and maximise longevity in betting.
- Beard: A person who places bets on behalf of another to hide the identity of the true bettor.
- Bet: A wager placed on the outcome of an event.
- Betting exchange: A platform where bettors can place bets against each other rather than against a bookmaker.
- Betting strategy: A plan or system used by bettors to try to increase their chances of winning.
- Bettor: A person who places bets.
- Book: Short for “bookmaker” or “sportsbook”.
- Bookie: Informal term for a bookmaker.
- Bookmaker: A person or company that accepts and pays out bets.
- BR: Abbreviation for “Bankroll”.
- BTTS (Both Teams to Score): A bet on whether both teams will score in a match.
- Buy points: A feature that allows bettors to change the point spread in exchange for adjusted odds.
C
- Chalk: A favourite in betting, typically with low odds.
- Chalk bettor: A person who predominantly bets on favourites.
- Circled game: A game where betting limits are reduced due to uncertainties like weather or player injuries.
- Closing line: The final odds offered before a game starts.
- Co-favorite: When two or more competitors share the status of being the favourite.
- Commission: A fee taken by the bookmaker from a winning bet.
- Correct score: A bet on the exact final score of a game.
- Cover/Covering the spread: Successfully betting that a team will beat the point spread.
D
- Decimal odds: A format of odds commonly used in Europe, showing the total return for every £1 wagered, including the stake.
- Dime Line: A betting line where the difference between the favourite and underdog is 10 cents, often used in baseball.
- Dog: Short for “underdog,” the team or competitor expected to lose.
- Dog Player: A bettor who primarily bets on underdogs.
- Double action: A bet where the stake carries over to another bet if the first bet wins, ties, or cancels.
- Double bet: A single bet placed on two selections; both must win for the bet to succeed.
- Double result: A bet predicting the outcome at halftime and fulltime in a match.
- Double-header: Two games played consecutively, usually on the same day.
- Draw: A result where neither team wins, commonly called a “tie” in American sports.
- Drift: When the odds of a selection lengthen before the start of an event.
E
- Each-way: A bet split into two parts; one for the win and one for the place. If your selection wins, both parts pay out.
- Edge: An advantage a bettor has over the bookmaker, often through superior knowledge or strategy.
- Even money: A bet where the payout is equal to the stake; odds of 1/1.
- Exotic Bet: A bet that is more complex than standard win, place, or show bets, often involving multiple selections.
- Expected Value (EV): The anticipated value of a bet over time, considering all possible outcomes.
- Exposure: The amount of money a bookmaker or bettor stands to lose on a bet or series of bets.
F
- Favorite: The team or individual expected to win an event, often with lower odds.
- Field: Refers to all the participants in an event except for a few listed ones, or a bet that covers all but the favourites.
- First-half bet: A wager placed specifically on the outcome of the first half of a game.
- First/Last/Anytime Scorer: Bets on who will score first, last, or at any point in a match.
- Fixed odds: A betting format where the odds are agreed upon when the bet is placed and do not change.
- Form: The recent performance record of a team or player.
- Fractional odds: A format of odds primarily used in the UK, showing the net total you will receive on a winning bet relative to the stake.
- Futures bet: A long-term bet on an event outcome that will be determined in the future, such as betting on the winner of a league before the season starts.
G
- Game total bet: A wager on the total number of points or goals scored by both teams in a game.
- Graded Bet: A bet that has been settled, with winnings paid out or losses deducted.
- Grand Salami: A bet on the total number of goals or runs scored across all games in a league on a particular day.
H
- Half-ball handicap: A betting handicap that eliminates the possibility of a draw by adding or subtracting half a goal or point.
- Half-time bet: A wager placed on the outcome of just the first half of a game.
- Handicap: A system used to level the playing field by giving one team a points or goals advantage before the event starts.
- Handicapper: A person who studies and sets the handicap or odds for an event.
- Handle: The total amount of money wagered on an event.
- Hedge: A bet placed to reduce the risk of an existing bet.
- Holding your own: A situation where a bettor is neither winning nor losing significantly.
- Home-field advantage: The perceived benefit that the home team has due to familiarity with the venue and support from local fans.
- Hook: A half-point added to the spread or total to avoid a push.
I
- If bet: A conditional wager that links multiple bets together, where the outcome of one bet determines whether the next bet will be placed.
- Implied Probability: The likelihood of an event occurring as suggested by the odds, calculated by converting the odds into a percentage.
- In-play betting: Betting on an event while it is happening, with odds that change in real-time based on the progress of the event.
J
- Joint favorite: When two or more competitors are equally favoured to win, sharing the shortest odds.
- Juice: The commission or fee charged by a bookmaker on bets, also known as “vig” or “vigorish.”
L
- Lay: To bet against a particular outcome, often on a betting exchange.
- Laying points: Betting on a favourite to win by more than the point spread.
- Laying the price: Betting on a favourite with lower odds, requiring a larger stake to win a smaller profit.
- Layoff: A bet placed by a bookmaker with another bookmaker to reduce risk.
- Lengthening Odds: When the odds for a particular outcome increase, indicating it is less likely to happen.
- Limit: The maximum amount a bookmaker will accept on a single bet.
- Line: The odds or point spread offered by a bookmaker.
- Linemaker: The person responsible for setting the betting lines.
- Listed pitchers: A baseball bet where the bet is only active if the named pitchers start the game.
- Live betting: Betting on an event while it is in progress.
- Lock: A bet that is considered a sure thing, though there is no such thing as a guaranteed bet.
- Longshot: A bet on an outcome that is unlikely to happen, typically with high odds.
M
- Middle: A situation where a bettor wins two bets on the same event by correctly predicting the spread or total movement.
- Moneyline Bet: A straightforward bet on which team will win, with no point spread involved.
- Moneyline Odds: The odds associated with a moneyline bet, showing how much you can win relative to your stake.
- Moving the line: Adjusting the point spread or total to create different betting opportunities.
- Multiple bets: A series of bets combined into one wager, where all selections must win for the bet to succeed.
- MVP: Most Valuable Player; a common bet on which player will be named MVP in a season or tournament.
N
- Nap: The best bet of the day according to a tipster or bettor.
- Nickel: A bet worth £500.
- No action: A bet that is cancelled and refunded, often due to a change in circumstances like a rainout.
- Novelty bets: Bets on unusual or non-sporting events, such as the outcome of a reality TV show.
O
- Odds: The ratio representing the likelihood of a particular outcome occurring, determining the payout of a winning bet.
- Odds formats: The different ways odds can be presented, such as fractional, decimal, and moneyline.
- Odds on favorite: A competitor with odds less than even money, indicating they are highly favoured to win.
- Odds shopping: Comparing odds from different bookmakers to find the best value.
- Oddsmaker: The person or organisation responsible for setting the betting lines and odds.
- Off the board: A game or event that is no longer available for betting.
- Opening Line: The initial odds or point spread offered by a bookmaker for an event.
- Outright betting: A bet on the overall winner of a tournament or competition.
- Outsider: A competitor with long odds, expected to have a low chance of winning.
- Over: A bet that the total points or goals in a game will be more than a specified number.
- Over/Under: A bet on whether the total points or goals in a game will be over or under a certain amount.
P
- Parlay: A single bet that links multiple wagers; all must win for the bet to succeed.
- Parlay banker: A safe selection included in a parlay to boost the overall odds.
- Payout: The amount of money received from a winning bet.
- Pick’em: A game where neither team is favoured, and no point spread is applied.
- Point Spread: A handicap given to one team to level the playing field in betting.
- Post time: The scheduled start time of a race or event.
- Power rankings: A ranking of teams or players based on recent performance and strength.
- Price: Another term for odds, indicating the potential return on a bet.
- Proposition bet: A wager on a specific event within a game, such as who will score first.
- Proxy: Someone who places bets on behalf of another person.
- Public money: Bets placed by the general betting public, often influencing the odds.
- Puck line: A point spread used in hockey betting.
- Push: A result where the bet is a tie, and the stake is refunded.
Q
- Quarter Bet: A wager placed on the outcome of a specific quarter in a game.
R
- Recreational Bettor: A casual bettor who places bets primarily for entertainment, not as a primary source of income.
- Return: The total amount of money a bettor receives from a winning bet, including the original stake.
- Rotation Number: A unique number assigned to each betting option, used to simplify placing bets.
- ROY: Abbreviation for “Rookie of the Year,” often used in bets related to this award.
- Run Line: A point spread in baseball betting, typically set at 1.5 runs.
S
- Second-half bet: A wager placed on the outcome of the second half of a game.
- Sell points: Adjusting the point spread in favour of the bookmaker in exchange for better odds.
- Sharp: An experienced or professional bettor who often has an edge over the bookmaker.
- Single: A bet on just one selection, which must win for the bet to pay out.
- Special: A bet on a non-standard market, such as entertainment or political events.
- Sportsbook: A company or website that accepts bets on various sports events.
- Spread: Short for “point spread,” the margin set by the bookmaker to level the odds.
- Spread betting: A type of betting where the payout is based on the accuracy of the bet, rather than a simple win or loss.
- Square: A casual or inexperienced bettor.
- Stake: The amount of money wagered on a bet.
- Staking method: A strategy for determining the amount of money to bet on each wager.
- Steam: A sudden change in betting odds due to a large volume of bets on one side.
- Straight bet: A single bet on a specific outcome, such as a team to win or cover the spread.
- Sucker Bet: A bet with poor odds that heavily favours the bookmaker.
- Syndicate: A group of bettors who pool their resources to place larger or more frequent bets.
T
- Taking Points: Betting on the underdog and receiving the point spread.
- Teaser Card: A type of bet that allows you to adjust the point spread or totals in your favour across multiple games, usually for a lower payout.
- Teaser odds: The odds associated with a teaser bet, typically lower due to the adjusted spread.
- Three-way odds: Odds offered on three possible outcomes in a match: Team A win, Team B win, or a draw.
- Ticket: The receipt or confirmation of a placed bet.
- Tip: Information or advice on the likely outcome of an event, often provided by a tipster.
- Tipster: A person who provides betting tips, often for a fee.
- Totals Bet: A wager on the total number of points or goals scored in a game, also known as an over/under bet.
- Traders: Individuals who manage the odds and betting markets for a sportsbook.
- Two-way odds: Odds offered on two possible outcomes in a match, typically excluding the possibility of a draw.
U
- Under: A bet that the total points or goals in a game will be less than a specified number.
- Underdog: The team or individual expected to lose, often with higher odds.
V
- Value Bet: A bet where the odds are perceived to be higher than the true probability of the outcome, offering potential long-term profit.
- Vig (Vigorish): The commission or fee charged by a bookmaker on a bet, also known as “juice.”
W
- Wager: Another term for a bet, a sum of money placed on the outcome of an event.
- Welch: To fail to pay a debt or bet after losing.
- Wiseguy: A knowledgeable or professional bettor, often with inside information.
X
- X-sport prop: A proposition bet that involves outcomes across multiple sports, often combining results from different events.
Y
- Yankee tax: A term used to describe the tax on gambling winnings, particularly in the United States.
Z
- Zebras: A slang term used to refer to referees or officials in sports, typically because of the black and white striped uniforms they often wear.
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