Betting Sports Glossary

online sports betting boards

Action

It can be any type of bet.

Added Game

When they reschedule a game such as a doubleheader in baseball.

Arbitrage

When you bet on all the possible outcomes of a game to ensure a profit.

ATS

It’s the abbreviation for “Against The Spread”. It’s the win-loss record of a team on how many times they cover the point spread. If a team played 5 games and they cover 3 their ATS will be 3-2.

Backdoor Cover

When your spread starts bad and offers a surprise win in the end.

Bad Beat

When you’re winning bet suddenly loses unexpectedly. Sometimes bettors can become very emotional when it happens.

Bankroll/Budget

It’s the amount of cash bettors wager on a game, for example on basketball, baseball, or the NFL.

Betting Signals

When online sportsbooks give bettors automated alerts. It occurs when sharps bet heavily on a number, or on a team. Essentially it causes the line to reverse.

Bet To Risk

When bettors risk a certain amount of cash irrespective of the odds at stake. Although your bet size fluctuates a lot, the payout varies due to the odds.

Bet To Win

When you bet on a certain amount that covers the odds. The size of your bet changes, yet the payout you’ll receive stays the same.

Bets vs The Dollar Discrepancy

When bettors compare the percentage of dollars to the percentage of their bets a specific team receives. The idea behind it is to see which side the professional bettors go for.

Betting Sheets

The papers sportsbooks print off which outlines all their offerings. In other words, the games bettors can bet on as well as their lines. Note, each sport has its own betting sheet.

Betting Syndicate

When sharps or professional bettors pool their respective resources.

Betting System

A model bettors use to make a profit. Each bettor can develop their own betting system that pertains to their own betting experience.

Board

It indicates all the sports online bettors can place their bets on.

Bookie

A bookie is someone who takes bets illegally on games.

Buying Back

When sharps or professional bettors intentionally bet on a team to move the number in their favor. Should the odds move their way, they bet on the other side with ridiculous numbers.

Buying Points

To get a better number on the spread total; bettors pay the house an additional fee.

Chalk

The favorite team.

Closing Line

When the sportsbooks close their lines and they no longer receive any bets. Usually just before the game starts.

Closing Line Value (CLV)

It is the value of the bet that’s relative to the closing line. Bettors who consistently beat the closing line are usually sharps.

Confirmation Bias

Usually it’s trends or data that fit your idea of thinking.

Contrarian Betting

It entails betting against the public, and contrarian betting takes advantage of the public’s bias. Where the average Joe’s and Sally’s bet heavily on the favorite or the home-field team. Normally the favorite teams are overvalued.

Cover

It doesn’t matter if a team wins the spread bet or not. Moreover, when a bettor bets a 3-point favorite, and your team wins by 4 points. Not only did you win your bet, but you did cover the spread.

Daily Fantasy Sports (DFS)

Bettors can bet on any team or on any player, build their own lineup and compete against other bettors. Furthermore, it can be on any sports.

Dime

Believe or not a dime is a bet of $1,000.

Double-Siding

That’s when a handicapper tells his clients to bet on a team during the first half. And then on the other team during the second half. Regardless, of the outcome of the game, bettors can say the bet on teh right team.

Edge

When the bettors has an edge over the online casino or the sportsbook.

Even Money

A bet that does not contain any juice, as such a bet of +100.

Exotic

It can be any type of bet that does not include the total bet, moneyline, or the spread. Bettors love to use prop bets and parlays. Essentially they are the most popular exotic bets.

Expected Value (EV)

The expected value you receive on a bet that takes into account the probability that it will happen. When you bet on sports always shoot for a positive expected value, or EV+.

Fade

When you bet on the opposite side, or the road team.

Fading The Trendy Dog

It’s when contrarian bettors bet on the underdog. Strictly speaking, it can be betting against the public.

Favorite

They team that will win the game.

Field

Bettors often bet the field when it comes to prop bets. In other words, when you bet on other players and teams that’s excluded from the initial bet.

Flat Betting

When you risk the same amount of cash on every game. It can be 2 percent or 5 percent of your bankroll. No matter what, you never deviate from it.

Future

When bettors bet on something that will occur within the foreseeable future. For instance, before the season starts, bettors can bet that the Patriots +300 will win the Super Bowl.

Gambler’s Fallacy

When something is bound to occur again, the chances of it occurring again in the near future is slim.

Getting Down

When bettors place their bets

Grand Salami

An expert sports bettor that makes an educated guess on the outcome of a game.

Handle

It’s the total amount a sportsbook receives during a particular game.

Heavy Juice

That’s when the price of the standard juice of -110 goes up to -125.

Hedging

Bettors hedge their bets when it comes to future bets. They can “ride out” their bets on their favorite team/s, or they can place a bet on the opposing team. Bettors bet on their favorite team and hedge their bets against the opposing team. Therefore, they’ll receive a payout irrespective of which team wins.

Hold

Once all the bets are done, it’s the amount of money (profit) the sportsbooks made.

Hook

The additional half point is a common bet bettors bet on in football. For example, they aim for the hook at +3.5 as opposed to +3.

House

The online sportsbook or casino that receives all the bets from gamblers and bettors.

Implied Probability

When sportsbooks convert the betting odds into a likelihood percentage. It can be the winning chances of a specific team from 1 percent to 99 percent. Let’s say the Arizona Cardinals play the Carolina Panthers. And they’re the favorites at -175 while the Panthers are the underdog at +150. The Cardinal’s -175 odds mean that they have a 64 percent chance implied probability to win the game. The Panther’s will have a 40 percent chance of winning the game.

Juice

The juice is the tax online sportsbooks charge bettors before they can bet on a team.

Kelly Criterion System

J.L Kelly is the brainchild of the Kelly Criterion. The gist of the betting system takes into account how confident bettors are. The more confident a bettor is the more he or she will bet. Expert bettors use it because it’s profitable, but it’s also very risky.

Key Numbers

Football teams usually win or lose by a margin of 3 or 7 points.

Lay

You lay points when you bet a favorite on the spread.

Lean

When you’re confident in your bet but you don’t go all-out with it.

Liability

When a sportsbook sees plenty of action and runs the risk of losing plenty of money when one team wins.

Limits

Sportsbooks impose the maximum amount of cash bettors can bet on a player or a team. Limits differ from one sportsbook to the next.

Line Freeze

When heavily lopsided betting occurs the sportsbooks usually freeze the line. That said, the line also refuses to give way to the team that receives most bets.

Line Shopping

When bettors shop around for the best deals at online sportsbooks.

Lines

Bettors also call lines odds.

Listed Pitcher Bets

Sportsbooks cancel the bet in baseball when either listed pitcher does not start the game.

Live Line

Bettors refer to it as live betting, or in-game wagering. While the game takes place it’s the line on the game.

Long Odds

When there is a large gap between the ratings of two teams.

Martingale Betting System

After each losing bet you double your bets with the hope of winning back the money you lost. You’re more likely to lose all your money with the Martingale Betting System.

Middling

When bettors place their bets on both teams especially after a major line move. They aim to “play the middle” to win both bets.

Mobile Betting

When you place your bets on your phone or via an app.

Moneyline

When bettors place their bets on a team who they think will win the game.

Moving On Air

When online sportsbooks adjust their lines so that it mirrors that of the sharps.

Moving The Line

When sportsbooks adjust their lines because professional bettors bet heavily on one side.

Mush

A person that brings bad luck to bettors.

Nickel

Is a bet worth $500.

No Action (NA)

A sportsbook cancels the bet and it returns your money. A good example is when the cancel a baseball game due to bad weather.

Odds

Sportsbooks determine the price of each to team for bettors to wager on.

Oddsmaker

The persons who decides the odds of betting lines.

Off The Board

When a sportsbook takes down the betting lines on a game, and cancels all bets. It can happen because of any injury to a key player such as the quarterback in the NFL.

Opening Line

It’s the first line the sportsbooks release which moves as a result of the action it receives.

Over/Under (O/U)

The same as Total

Parlay

When multiple bets occur on the same bet. Therefore, if you lose one bet you lose all of them. Then again, if your bets win, you’ll a huge windfall.

Partial Game Lines

Spreads that only apply to the first, or second half. Or, it can be during one of the first quarters of a game.

Percentage Play

This is the percentage amount of your bets in relationship to your bankroll. If your bankroll is $1,000 and your average bet is $2 than your percentage play is 2 percent.

Pick’em or Pick (PK)

When you have two teams that are of equal strength. Therefore, no underdog or favorite. The line will then be zero.

Pleaser

A pleaser bet is the opposite of a teaser bet.

Plus Money

When you bet the underdog and it wins, you’ll pocket a nice sum of cash.

Power Ratings

It’s a statistical rating of each team where sportsbooks rank them in terms of strength.

Proposition (Prop) Bets

When bettors bet on everything aside from the outcome of the game. It can be the over/under rushing yards by an NFL player. Heck it can even be how long the anthem will be during the Super Bowl.

Public Money

It’s the money that casual or novice bettors wager on a game, basically it’s just for fun.

Puck-Line

The puck-line is the spread in ice hockey. Sportsbooks give the favorite a rating of -1.5 while the underdog has a rating of +1.5. The favorite must win by at least 2 goals. While the underdog can lose or win a game by 1 goal.

Push

When your total lands on the exact number of the odds. Bettors call it a tie or a draw, and the sportsbook will return their money.

Pythagorean Differential

Bettors also call it the Pythagorean representation. It converts every team’s points differential into a winning percentage bettors can relate to.

Real-Time Odds

The moment sportsbooks online adjust their numbers live sports betting lines update them.

Recency Bias

When the public overvalues a team’s recent games it undervalues its long term prospects.

Reduced Juice

Instead of the standard -110, sportsbooks lower the juice to -107, or -105.

Reduced Juice Sportsbook

Public bettors aren’t aware of these sportsbooks because their lines are well below that of the standard juice. Basically it’s a secret sportsbook that only the sharps and seasoned bettors know of.

Return On Investment (ROI)

It’s the net profit a bettors makes after their betting spree ends.

Reverse Line Movement (RLM)

When smart money is on the move the betting lines move in the opposite direction.

Rotation Number

It can be an NSS, ID a game, or a Vegas rotation number. The number is unique to each team, or sporting event.

Run-Line

The run-line is the spread in baseball with the favorite being -1.5 and the underdog +1.5.

Runner

When a bettor places a bet on behalf of someone else.

Scalping

To guarantee a profit a bettors bets both sides of the game.

Shaded Line

When sportsbooks move the odds a shaded line occurs which compels casual bettors to take bad numbers.

Sharp

A professional bettors who has a sterling sports betting track record. He or she bets big, and they tend to do tons of research.

Sharp Action

When professional bettors cause the lines to move because they bet heavily on one side.

Sharp Sportsbook

A sportsbook that sets its own lines, accepts huge wagers, and has high limits. It caters primarily to sharp bettors.

Short Odds

When there’s not much difference between two teams’ power ratings.

Side

When bettors bet on the favorite or on the underdog. Therefore, either on the spread or the moneyline.

Smart Money

Smart money comes from savvy bettors who have an edge. Sportsbooks move their lines as a result of sharp money.

Sportsbooks

Bettors can place their bets at Sportsbooks which also offer odds on games. Once bettors register an account, they can deposit and start betting.

Square Sportsbooks

A sportsbook that caters primarily to casual bettors. Their lines are usually shaded toward overs and favorites.

Steam Move

When professional bettors or sharps suddenly cause a line to move it means a “team is getting steamed”.

Straight Up

When a teams wins a game because of the moneyline spread and not the point spread.

Survivor Pool

Bettors refer to it as an eliminator challenge, survivor tournament or suicide pool. When plenty of people enter a bet and back one team to win every week. Each bettor can only pick a team. The person who remains the longest will win the money.

Sweat

When you root for your bet to win.

Syndicates

When a group of sharps join forces and they combine all their resources to win as much cash as possible.

Tail

When a bettor follows the same pick as someone else.

Teaser

A teaser allows bettors to change total or point spread in a game. Note, if you continually change the spread you won’t win much should your bet win.

Ticket

Once you place your bet at a sportsbook you’ll receive a ticket.

Total

When the totals of two teams combine in a game. Bettors can bet whether the total will be over or under.

Tout

Someone who sells tickets at inflated prices.

Underdog

The team who will lose the game.

Unit

A unit helps sports bettors to gauge their performance. You either win or use units. The standard unit size in flat betting entails 3 percent of your bankroll. If you have a bankroll of $100, your unit size will be $3. If you win $30 it means you gained 10 units.

Upset

Win the underdog beats the favorite in a game.

Variance

When there is plenty of ups and downs within a short space of time.

Vig or Vigorish

It’s the same as juice (see juice).

Wiseguy

A professional bettor or sharp.

Z-score

It measures the distance of one data point from another.