Betting Dictionary

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

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

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.

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.

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.

American Odds show how much you can win or must risk to win $100, using plus (+) for underdogs and minus (–) for favorites.

Example: +150 means a $100 bet wins $150 profit; -150 means you must bet $150 to win $100.

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.

It adjusts the scoreline to balance soccer matchups, removing the draw and creating a true two-way market. See our Asian Handicap Betting guide for a deeper breakdown.

Example: Team A -1.0 must win by 2+ goals; a 1-goal win is a push.

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

Is how you budget your betting money so you can handle wins and losses without going broke. Learn the basics in our Bankroll Management guide.

Example: With a $500 bankroll, betting 1% per play means wagering $5 each bet.

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.

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.

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.

Chalk refers to the favorite in a game—usually a heavy favorite that most bettors expect to win.

Betting the chalk often means lower risk, but it comes with smaller payouts.

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.

Closing line is the final odds or spread right before a game starts.

Example: You bet Team A -3, but the line closes at -5. You beat the market and gained positive closing line value (CLV).

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.

Decimal odds show your total payout per $1 wager, including stake.

Example: Odds of 1.50 return $1.50 on a $1 bet, for $0.50 profit.

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.

Dime is betting slang for a $1,000 wager.

Example: Placing a “dime” on a game means risking $1,000 on that bet.

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.

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.

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 type of bet is a wager placed on an outcome that will be decided later, usually at the end of a season. Learn more in our Futures Betting guide.

Example: Betting on a team to win the championship before the season starts.

Fading the public means betting against the majority of bettors.

Example: If 75% of bets are on the Lakers -6, a fade would be taking the opponent +6, expecting the line to be inflated by public action.

First Half Bet means wagering only on the first half of a game (spread, moneyline, or total).

Example: Packers -3.5 first half wins if Green Bay leads at halftime—no matter the final score.

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.

Fractional odds show how much profit you win relative to your stake. These odds are common in the UK.

Example: Odds of 5/1 mean you win $5 for every $1 bet, plus your original stake back.

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.

Hedge betting means placing a wager on the opposite side of an existing bet to reduce risk or lock in profit.

Example: You bet $100 on Duke at +1000 to win the title. In the final, you bet the opponent moneyline to guarantee a payout either way.

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

Quarter and half bets focus on a specific segment of a game instead of the final score.

Example: Instead of betting Chiefs -7.5 for the game, you bet Chiefs -3.5 in the first half, and only the halftime score determines the result.

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.

In-game wagering (live betting) lets you place bets after a game starts, with odds updating in real time.

Example: Bet a team’s moneyline after they fall behind, getting better odds if you expect a comeback.

The “vig” is the built-in fee sportsbooks charge for taking a bet, which slightly reduces your payout. Learn how it impacts odds in our Juice (Vig) guide.

Example: At -110 odds, you must bet $110 to win $100 because of the vig.

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.

Live betting lets you place wagers after a game has started, with odds updating in real time.

Example: If the Chiefs fall behind early, their live moneyline odds increase, allowing you to bet on a comeback at a better price than pregame.

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.

Middle betting means taking both sides of a wager at different lines to create a point-range where both bets can win.

Example: You bet Chiefs -7.5 early, then Raiders +10.5 later. If the Chiefs win by 8–10 points, both bets cash.

This bet focuses on simply picking the winner of a game or match, with odds showing which side is favored and which is the underdog. See how pricing works in our Moneyline Betting guide.

Example: At +150, a $100 bet wins $150; at -150, you must risk $150 to win $100.

Round robin betting splits one large parlay into multiple smaller parlays to reduce risk.

Example: You pick Chiefs, Cowboys, and Eagles. A round robin creates three 2-team parlays plus the 3-team parlay, so you can still win if one team loses.

Nickel is betting slang for a $500 wager.

Example: If you “bet a nickel” on a team at -110 odds, you’re risking $500 to win about $455 in profit.

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.

These numbers show how likely an outcome is and how much you can win if your bet hits. Learn how different formats work in our Betting Odds guide.

Example: At +200, a $100 bet wins $200; at -200, you must risk $200 to win $100.

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

Odds formats are different ways sportsbooks display the same betting info—probability and payout.

Example: A team at +150 (American), 2.50 (decimal), or 3/2 (fractional) all mean the same bet, just shown differently.

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.

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.

An Over Bet is a wager that the total points or stats in a game will exceed the number set by oddsmakers.

Example: If the total is 223.5, an over bet wins if the teams score 224 or more points.

Over/Under wager focuses on whether a game’s total points, goals, or runs will finish higher or lower than the number set by oddsmakers. Learn how totals are set in our Over/Under Betting guide.

Example: If the total is 48.5, betting over wins with 49+ points; under cashes with 48 or fewer.

Parlay betting combines two or more bets on one ticket for a bigger payout, but every leg must win.

Example: Pick three NFL games to win—if all hit, you earn a higher return than betting each game separately.

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.

Prop Betting (proposition betting) involves wagering on specific player performances, team milestones, or in-game events rather than the final score.

Example: Betting on Patrick Mahomes Over 2.5 touchdown passes or LeBron James to record a triple-double, regardless of which team wins.

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.

A push occurs when a bet lands exactly on the sportsbook’s posted number, resulting in a tie and a refunded stake.

Example: You bet Packers -7, and they win 17–10. Since the margin matches the spread, the bet is graded no action, and your original wager is returned.

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.

Sharp money refers to wagers placed by professional bettors using data, value, and pricing inefficiencies, while Public Money comes from casual bettors driven by hype, brands, and narratives.

Example: If 70% of bets are on the Chiefs but 60% of the money is on the Broncos, that imbalance suggests sharp money backing Denver despite public support for Kansas City.

A quarter bet is a wager placed on the outcome, spread, or total for a single quarter of a game, independent of the final score.

Example: You bet Lakers -1.5 in the 2nd quarter—only the scoring in that quarter determines whether the bet wins or loses.

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

Reverse Line Movement (RLM) happens when most bets are on one team, but the line moves toward that same team—signaling sharp money.

Example: 70% bet Chiefs -3, yet the line drops to -2.5.

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.

Second-half betting lets you wager only on the outcome of the second half, ignoring the first.

Example: Chiefs trail 17–14 at halftime but are -5 for the 2nd half. If they win the half by 6+, the bet wins—even if the full-game spread loses.

Sharp betting from professional gamblers who use data and price value, not hype.

Example: If 70% of bets are on the Chiefs but the line moves toward the Broncos, larger sharp wagers are likely backing Denver.

Spread betting lets you bet on how much a result beats or misses a line, with wins and losses growing as the margin increases.

Example: Buy Total Goals at 3 in a soccer match—if 6 goals are scored, you win 3× your stake; the bigger the gap, the bigger the payout (or loss).

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.

Teaser bets let you bend the lines in your favor by buying points, but you must win multiple bets on the same ticket.

Example: Tease the Cowboys from -8.5 to -2.5 and the Rams from +2.5 to +8.5—both adjusted lines must win, and the easier odds come with a smaller payout.

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.

Under betting means wagering that the total points, goals, or runs scored will finish below the number set by oddsmakers.

Example: If an NBA total is 223.5 and the game ends 110–108 (218 points), the under cashes—no need to pick a winner, just fewer points on the board.

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.

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.