By BleacherBET
Sports betting terms can be confusing, and the more you bet, the more terms you’ll want to know. BleacherBET has you covered with this list of terms to improve your betting IQ now that online sports gambling is legal almost everywhere across the United States.
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Sports Betting Terms and Glossary
Action – A bet or wager.
Against the Spread – The result of a game that involves a point spread.
Bad Beat – A bet that looks like the bettor is going to win but ends up losing due to unforeseen circumstances.
Book (Sportsbook) – A place where someone can bet on the outcome of various sporting events.
Buck – A $100 bet.
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 side 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.
Dime – A $1,000 bet.
Dollar – A $100 bet.
Edge – The advantage a bettor has before a bet is placed.
Even (Even Money) – Any bet with odds that pay 1-1 (+100). For example, a $100 bet at even money would pay $100 in profit.
Favorite – The team favored to win a game.
Future Bets – A bet on events that will settle further in the future, like who will win a division or who will win a championship before or during the regular season.
Handle – The total amount of money wagered on a game.
Handicapping – Researching sports statistics to pick winners.
Hedging – Betting the opposite of a previous bet to guarantee a win and profit in some capacity.
Hook – A half-point on the spread.
In-game wagers – Bets made after a game has started. This is widely referred to as ‘live betting‘.
Juice – A commission books win on each bet.
Limit – The maximum amount a player is allowed to wager on a single bet.
Lock – A wager that is considered to be a sure thing by the bettor that placed it.
Long Shot – A large underdog.
Moneyline Bet – A bet that is contingent on whether a team will win or lose the game outright.
Nickel – A $500 bet.
No Action – A game that is no longer taking bets and all wagers are refunded.
Oddsmaker (Linemaker) – Someone who sets the opening line on a game.
Off the Board – A game bettors can no longer wager on, usually because it has already started.
Over – The combined score of two teams is more than what the sportsbook set the total at.
Parlay – A 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 a parlay to win, each game must win or at least push (tie). If any of the games lose, the entire wager loses.
Pick’em – A game with no favorite or underdog as both sides are listed at -110 on the moneyline.
Point Spread – The margin of victory set by oddsmakers to attract action on both the favorite and the underdog. A favorite must win by a number higher than the point spread to cover, while an underdog can cover by losing by a number less than the spread or by winning the game outright.
Puckline – Hockey has a point spread of -1.5 for the favorite and +1.5 for the underdog.
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.
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.
Runline – Baseball has a point spread of -1.5 for the favorite and +1.5 for the underdog.
Sharp (Wiseguy) – A professional sports bettor.
Steam – A quick change on a line due to heavy wagering.
Taking the Points – Betting on an underdog against the spread.
Teaser – Similar to parlays, teasers involve multiple wagers combined into one but offer a much lower payout in exchange for extra points added to the spread.
Total Bet (over/under) – A bet on the combined number of points scored by both teams in a game, including overtime/extra innings.
Under – The combined score of two teams is less than what the sportsbook set the total at.
Underdog (Dog) – The side that is not favored to win the game or match.
Wager – A bet placed at a sportsbook.