Sports Betting Terminology

Term	Definition
Action	A bet or wager.
Against the spread	The result of a game including the point spread.
Alternate lines	Odds that are higher or lower than the main posted line. Common with point spread and game total betting in basketball and football.
Backdoor cover	Occurs when a score helps bettors cover a spread bet but doesn’t affect the game winner
Bad Beat	A bet that looks like the bettor is going to win but doesn’t.
Beard	A bet runner who places wagers for professional bettors so they can conceal their identity from bookmakers.
Book (Sportsbook)	A place where someone can bet on the outcome of sporting events.
Buck	A $100 bet.
Buy points	Bettors can buy points, using alternate point spreads and game totals, to gain a more favorable line.
Chalk	The favorite in a game.
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 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.
Decimal odds	Common in Europe, decimal odds are in a “big three” group that also includes fractional and American odds. A 1.91 decimal line equals -110 in American odds and 10/11 in fractional pricing. All three formats return a $100 profit on a winning $110 wager.
Dime	A $1,000 bet.
Dollar	A $100 bet.
Edge	The advantage a bettor has before a bet is placed.
Even (Even Money)	A $100 bet to win $100 .
Exposure	Amount of money a bettor or bookmaker stands to lose on any given wager.
Favorite	A team favored to win a game.
First half bet	A wager that focused on the result of the first half in sports like basketball, soccer and football. The most popular first half betting odds are spread, moneyline and game total options.
Fractional odds	Common in the UK, fractional odds are in a “big three” group that also includes Decimal and American odds. A fractional line of 10/11 equals -110 in American odds and 1.91 decimal pricing. They each return a $90.91 profit on a winning $100 bet.
Future bets	A bet on events that will happen further in the future, like who will win a division or who will win a championship well in advance.
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.
Handicapping	Researching sports statistics to pick winners.
Handle	The total amount of money wagered on a game.
Hedging	Betting opposite of a previous bet to guarantee winning at least a small amount of money.
Home field advantage	The perceived benefit a team gains when playing in familiar settings at their home stadium.
Hook	A half point in the spread
In game wagers	Bets made after a game started.
Juice	A commission books win on each bet.
Laying points	Betting on a favorite
Limit	The maximum allowed wager on a single bet.
Lock	A large favorite.
Long Shot	A large underdog.
MLB	Major League baseball
Moneyline bet	A bet made if a team will win or lose outright with no point spread.
NBA	National Basketball League
NFL	National football league
NHL	National Hockey League
Nickel	A $500 bet.
No Action	A game that is no longer taking bets and all wagers are refunded.
Odds	Betting lines set by a bookmaker on a variety of events.
Odds shopping	Reviewing the lines at a variety of sportsbooks in order to find the best priced odds.
Oddsmaker (Linemaker)	Someone who sets the opening line on a game.
Off the Board	A game bettors can not wager on.
Over	The combined score of two teams is more than what the sportsbook set.
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.
Pick’em	A game with no favorite or underdog.
Point spread	Margin of victory set by oddsmakers to attract bets 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.
Proposition bets (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.
Proxy	Is an individual, or a group of individuals, who place bets for other people. The term is most commonly associated with people who submit picks for non-legal markets residents
Public money	Amount wagered by the general public on any betting option.
Puckline	Hockey has a point spread of 1.5 for the favorite and +1.5 for the underdog.
Push	When neither team covers the spread (the actual margin of victory lands exactly on the spread), no one wins the bet and all wagers are refunded.
Quarter Bet	Any wager placed prior to or during any quarter of a sporting event.
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.
Runline	Baseball has a point spread of 1.5 for the favorite and +1.5 for the underdog.
Sharp (Wiseguy)	A professional sports bettor.
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	Odds that change quickly usually due to a large amount of betting action by sharp bettors or syndicates.
Steam	A quick change on a line due to heavy wagering.
Syndicate	A group of bettors that pool funds and use their combined knowledge to bet on events. Syndicates will often wager large amounts to move a line and then place an even larger bet on the new price they helped create.
Taking the points	Betting an underdog against the spread.
Teaser	Similar to spreads, teasers are favored toward the bettor but have a lower payout.
Three-way odds	Wagering options that have three sides and include ties as a betting option.
Ticket	A receipt issued by a bookmaker to confirm a wager has been accepted.
Total bet (over/under)	A bet on the combined number of points scored by both teams in a game, including overtime/extra innings.
Two-way odds	Wagering options that have two sides and do not include ties as a betting option.
Under	The combined score of two teams is less than what the sportsbook set.
Underdog (dog)	A team not favored to win a game.
Wager	The act of playing for stakes in the hope of winning