Betting Dictionary

Horse racing term which means you are betting a horse to win, place and show.

This is simply a term for the amount of money bet on a sporting event. In baseball betting it refers to betting on a team with no specified starting pitcher listed. Therefore, you have “action” on the team regardless of which pitcher starts the game.

The more common name for this term is a parlay, where each side must win for the ticket to pay off.

These are games that involve lesser-known teams and some sportsbooks have a special section for these games where the limits are smaller.

Known as After Extra Time, these odds are primarily on soccer matches where you have extra time added at the end of regulation time due to stoppages that occurred during the first 90 minutes.

The spread is the number of points you lay on the favorite or take with the underdog. For example, you might have Dallas as a -3.5-point favorite at home versus Washington so the spread is 3.5 points.

This term normally refers to a horse that didn’t finish in the money in a race but it can also refer to an athlete that didn’t finish well.

These odds are different from the main pointspread for the game. They will be higher or lower than the main betting line and be listed at a different price.

These are normally moneyline odds where you are either laying money on the favorite or getting plus money on the underdog.

These are simply horse racing futures odds that are available at least one day before the race. They are very common in big races like the Kentucky Derby.

Arbitrage wagering is where a bettor places wagers on all of the possible outcomes of the game. This is done at different sportsbooks at different odds, ensuring a profit for the bettor. The odds must differ enough so that a profit is guaranteed no matter the result.

This is a soccer betting term where the handicap begins at 0.25 goals and could go up to 2 goals. The Asian Handicap does not offer a tie or a draw option.

A bankroll is an amount of wagering money available for your sports betting. The bankroll increases or decreases with each winning or losing wager.

Oftentimes referred to as money management, bankroll management is about having controls in place and wagering only what one can afford to lose and setting loss limits.

A bookmaker is a person or entity that sets odds and takes bets.

A purchase of points is when you pay an enhanced fee in exchange for extra points or half-points with the pointspread.  For example, if a pointspread is set at +2.5 points a player can buy a half point to move the spread up to +3 or perhaps buy a full point to move the line up to + 3.5 points. The price increases with each pointspread increase.

This is when a late score occurs in a game that doesn’t affect which team wins the game straight up, but it does cover the spread for the game. For example, if Kansas City is leading 35-21, as a 10-point favorite against Denver and the Broncos score a late TD to make the final score 35-28, the Broncos got a backdoor cover.

This is when a wager looks like a sure win and turns into a loss. This scenario can occur late in the game when a touchdown, basket, goal or other form of score changes the outcome of the wager.

This is someone who is known as a runner who places wagers for professional bettors so it is unknown who the bet came from.

A wager involving money at a sportsbook, casino or racebook where someone can bet on either side of an outcome.

This is an online platform where bettors wager against each other and not the sportsbook. Users can offer and accept bets from other users so odds are determined by supply and demand.

This is the plan that a bettor uses to try and win money at the sportsbook. Betting strategies can be anything from wagering on underdogs only to wagering only when certain percentages are in your favor.

This is simply a term that refers to the sportsbook that posts odds and accepts wagers.

This is an old sports betting term that referred to someone who took the bet. Today it is simply another term for a bookmaker.

The chalk is the betting favorite.

A player that places the majority of their wagers on favorites.

Contrarian wagering is opposing public opinion, conventional wisdom, media hype, and the masses.

When a team wins against the pointspread, they “cover.”

This is an option that some sportsbooks offer where bettors can get paid for their wager before the game is officially over.

Games that are circled have lower betting limits. You will see circles games where players are questionable to play due to injury or a game could be circled due to weather. Some sportsbooks will have all of the added games treated as circled games.

This is the final betting odds that would have been posted just before the start of a game.

This is where two or more teams or players are listed with the lowest odds to win. Co-favorites can sometimes be seen in futures odds like Super Bowl, NBA Championship, etc.

This is another term for vigorish or juice and is simply the amount that the sportsbook gets on a losing wager. It can also refer to the amount that a betting exchange gets from winning wagers.

This is where bettors get the option of betting on the exact final score of a match. It is most common in soccer where bettors can wager on a match ending 0-0, 1-0, 2-0, etc.

This is simply when a team wins by more than the pointspread or loses and stays within the pointspread.

These odds are common in Europe and include fractional and American odds. They show the amount you receive back if your bet wins. For example, decimal odds of 1.50 mean that you would receive $1.50 back for every dollar wagered for a profit of 50 cents.

This is simply a short way of saying underdog and is the team or player with plus pricing attached to them.

This is also known as an “If bet” where a winning bet automatically goes on the second betting option.

This is a single wager where you are combining the score of the game at halftime with the final score of the same game.

This is simply another way of saying tie. It is any contest where the final score ends in a tie.

A bet of $1,000.

This is a term referring to the advantage a bettor gains over the sportsbook.

This is simply where a bettor gets the exact same amount for the original bet. For example, a $100 wager would win $100 and the original wager would be returned.

These are betting options that go beyond the normal side, total and moneyline. They can include parlays, teasers, propositions and futures.

This is the amount of money that the bettor or the sportsbook could lose on any wager.

The team or person expected to win and they will have a minus number attached to them. For example, a favorite on the moneyline could be listed at -150 while the underdog would be +130.

This is a bet where you get all of the teams or players not listed individually. It is oftentimes used to include a lot of big longshots on one wager.

This is a wager on a future event like the Super Bowl, Stanley Cup, etc. Betting on the team to win the championship before the season begins is an example of a futures bet.

This is where you bet against a team, player, the public, etc.

This is a wager that only includes the first half of a game. The second half has no bearing whatsoever on the wager.

These betting options are offered in many sports but are most popular in hockey and soccer.

This term simply refers to the odds on the ticket when the wager was placed. Line movement after the wager was made does not affect the odds on the original wager.

These odds are common in the UK and include Decimal and American odds.

The Grand Salami refers to the over/under total for how many goals or runs will be scored across all games in hockey or baseball on a specific day.

A wager that has been marked as a winner, loser or a push after the event has ended. Winnings are paid after a bet has been graded.

When you bet on the opposite side of your original bet, you are hedging. Bettors will often hedge to set up a guaranteed win if they are one win away from hitting a parlay.

A hook is a half-point.  A line of 3.5 is often called “three and a hook.”

These are wagers that are placed on the second half of a game or match. They are made after the first half ends and before the second half starts.

This is a person who researches games before making a wager. The term can also refer to so-called professional bettors who sell their picks.

This is the total amount of money that a sportsbook takes in on a game or event.

This is the difference between what the sportsbook takes in and what it pays out. It is basically their profit.

This is a parlay wager that consists of two or more wagers. It is where the winning money of the first wager goes on a second game.

These are bets placed while the game or event is in progress and also referred to as Live Wagering.

The commission sportsbooks charge you to place a wager.  For example, when you Bet $110 to win $100, the “juice” is $10.

This is where you are betting on a favorite. It is a pointspread wager so to win your wager the team has to win by more than the pointspread.

This term is used by bookmakers, sportsbooks and players where they are reducing risk on a game by playing both sides of a game or event.

The maximum amount a sportsbook allows to be bet on a game or event.

This is just another term for the bookmaker or oddsmaker.

A betting line is another term for pointspreads and or odds.

This is used for baseball odds where you can list the starting pitcher. If that pitcher doesn’t start the game, then the bet is void and refunded.

This is another term for in-game wagering where bets are placed while the game is in progress. The odds are continually adjusted based on the game score and situation.

This term refers to a team or player who is given very little chance of winning. Longshots will be listed at big odds because their perceived chance of winning is remote.

Middling is when you bet both sides of a game, but at different prices, hoping the final score lands in the middle.

This is simply a straight-up wager with no pointspread involved. For those that hate pointspreads, this is where you lay or take odds on a team to win instead of laying or accepting points.

This usually refers to a parlay where multiple bets are put into a single wager with all of the sides needing to win for the parlay to cash.

Another term for $500.

This is a term where the game or event is cancelled and results in a no-bet and money is refunded.

This term refers to prop and special betting options. Props on teams and players are some of the novelty bets listed at the sportsbook.

A game or event that sportsbooks will not put odds on.

Betting lines set by a bookmaker on a variety of events.

An increased payout offered by a sportsbook, typically as a promotion.

The three main odds formats are American, Decimal and Fractional.

This is the same thing as a linemaker and refers to the person or company that sets daily betting lines.

This is a term that refers to a favorite that goes off at minus odds. For example, in horse racing a horse might be 3-5 to win or in sports a team might be -250 to win while the other teams were listed at plus money.

This is where a player will look for the best odds at different sportsbooks.

This is where a player will look to predict the overall winner of an event.

This is where a player is betting on a game or event to go over the total posted by the sportsbook.

Also known as totals, these bets are for the combined final score of a game going over or under the number set by oddsmakers.

Multiple bets tied together that must all win for the parlay to cash.

The amount that you get returned to you after a winning wager. You get your original stake plus the winnings of the wager.

A “pick” is a game in which there is not a favorite or underdog.

Props are a bet on something other than the outcome of a game.  An example would be betting on what player wins the Super Bowl MVP Award.  Prop Bets are prevalent for events such as the Super Bowl, NCAA Men’s Basketball Tournament, and NBA Finals.

In moneyline sports like hockey, the puck line offers an alternative that works similarly to a pointspread.  Usually, this means laying or taking one-and-a-half goals but at a reduced price from the money line.

Also known as a tie, a push is a bet that ends without a winner.

This is the scheduled start time of a race.

Another term for betting odds and/or juice set by a bookmaker.

This is just another way to say prop bet.

A proxy is a person or a group of people who place bets for other people.

This refers to the amount of money wagered by the general public on a game or event.

This is a wager that is made on any specific quarter of a game whether it is NFL or NBA. The odds are specifically for one quarter and only the results of that quarter make any difference to the outcome of the wager.

Also known as Live-Betting or In-Game Betting.  These are live lines continuously updated during a game.

A reverse-line movement opposes public betting trends. If Team A receives most of the general wagering action as a 7-point favorite and the line drops to -6.5, this is a reverse line movement. Such bets most often indicate that professionals are taking Team B.

In moneyline sports like baseball, the run line offers an alternative that works similar to a pointspread.  Usually, this means laying or taking one-and-a-half runs but at a reduced price from the money line.

An individual who places bets on behalf of another person or syndicate is called a runner.

This refers to a player that bets rarely or just on big events like the Super Bowl. It can also refer to a bettor who makes small wagers just to be in action.

This is the number assigned to the games on the board at the sportsbook. Bettors can refer to the rotation number when placing a bet, rather than team names.

This is where a line is posted and one team is laying 1.5 runs and the other team is getting 1.5 runs.

This is similar to a halftime bet but it can be made before the game begins with only the outcome of the second half affecting the wager.

This refers to a professional sports gambler who gets more respect from the sportsbook when he bets on games. Sharps have a better chance of winning simply because they put in more work than the recreational bettor.

This is normally referred to as pointspread betting where a player is taking or laying points.

This is the place where sports betting odds are listed and wagers accepted. It can be at a land-based casino or it can be an Internet sportsbook.

This is another term for a novice or recreational player.

This is the amount of money a player risks on a bet or it can refer to the overall amount in a player’s bankroll.

A sudden significant line move that takes place all at once at a particular sportsbook.  Professional gamblers or syndicates usually cause the steam move.

This is a single wager on a game, whether it be the pointspread, total or moneyline.

This is normally a group of bettors that have a large amount of money to wager at sportsbooks. They will often move the lines to create more value one way or the other.

This is a wager that is placed on the underdog on the pointspread, so the bettors would be taking points.

A teaser bet is similar to a parlay with the added twist of adjusting the point spread or total for a game. The more points you change the original pointspread with, the lower the payout becomes.

This is the receipt issued by the sportsbook to confirm the wager.

This term refers to betting advice offered by someone who supposedly has good information on a game or event.

This is the person or group who is offering betting advice which can be referred to as tips.

This is a term that refers to a game that has three sides, one team, the second team and the tie option.

This is where a bettor is taking a game to have fewer points or goals than the total listed by the sportsbook. It is the opposite of Over in sports betting totals.

This is the team or player that is considered less likely to win. Underdogs will always have a plus number attached to them either on the moneyline or pointspread.

This is a term that refers to the amount of money risked by the bettor.

This is another term of juice Another term for juice and is the commission charged by the sportsbook.

This is simply another term for bet.

This is the number set by the sportsbook on how many games a team will win during the season. Bettors can bet over or the amount set by the sportsbook.

This is a term that refers to so-called handicappers, sharps and professional bettors who supposedly have good knowledge on the sport they are wagering on.