TERMS AND GLOSSARY
Sports Betting Terms and Glossary
If you’re new to the game, we’ve compiled a list of common sports betting terms and definitions. Even if you’re not new to sports betting, this glossary may enlighten you on some terms you’ve never heard before.
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Accumulator Bet: A parlay bet in North America is also known as an accumulator. It consists of two or more selections, and each side must win (or push) to create a winning ticket.
Action: Any sports wagering option, or the total amount bet on a specific event. Bookmakers accept action on all posted betting odds.
AET odds: After extra time (AET) odds are offered on soccer matches when extra time is added at the end of regulation time due to in-game stoppages. AET odds are posted when live betting is being offered.
Alternate Lines: Odds that are higher (pleaser) or lower (teaser) than the main posted line. They are commonly associated with point spread and game total betting in basketball and football. When you utilize such lines, your payout odds will change. The pleaser will expand the spread and pay better odds than the main line, while the teaser will reduce the spread with the result being lower payout odds.
American Odds: American odds, which is the moneyline, are one of a trio off primary formats used by odds makers that also includes British odds (fractional) and European odds (decimal). An American moneyline posted at EVEN (+/-100) is the same as 2.00 decimal and 1/1 fractional odds. Note, actual even odds are rarely offered.
Arbitrage Betting: Often shortened to ARB, arbitrage wagering is a betting strategy that covers all possible outcomes of a single game. ARB betting options are rare and arise when different sportsbooks have varying opinions on the proper odds for a match. The best sports for ARB betting are hockey as well as less popular college football and basketball games
Asian Handicap: This is most often found in soccer betting. These odds start at 0.25 goals and can go as high as 2.0 goals. A draw option is not offered. Thus, Asian handicap wagering is a two-way bet.
ATS: This stands for “against the spread” (ATS) and indicates how often a team beats or does not beat the spread.
B
Backdoor Cover: This relates to when a score helps bettors cover the spread, but it doesn’t affect who wins the game outright. As an example, if the Atlanta Falcons (-10) are up 35-21 against the Tampa Bay Buccaneers, Tampa Bay bettors can have a backdoor cover if the Bucs score a late touchdown to make the final score 35-28. Although the Buccaneers lose, they win with the spread of +10.
Bad Beat: Players experience a bad beat when a wager is on the verge of winning but then becomes a losing ticket. With a bad beat points are often scored late in the contest. Those wagering on the over/under, spread, and moneyline are vulnerable to this phenomenon.
Bankroll: This is the set amount of cash you’ve committed to betting over a specific time, which may be a week, month, season, or year. Proper bankroll management is essential if a sports bettor expects to make money.
Bankroll Management: Much like when someone manages a bank account for one’s business, bettors should practice proper bankroll management. Setting wagering limits, shopping for best odds value, and only wagering what one can afford to lose are keys to properly managing your sports betting bankroll.
Bet: In terms of sports betting, any amount of cash placed on a game, match, player, team, series, tournament etc., where the bettor attempts to predict the outcome of the event in order to win money. Bets are most often made through a sportsbook.
Betting Exchange: This service acts as an intermediary between the bettor and sportsbook. They post odds for games, etc. with both sides being offered until each is taken. This allows those placing a wager to do so without directly interacting with a book. Betting exchanges make money by taking a small commission from winning tickets.
Betting Strategy: Any betting strategy involves the sports bettor utilizing facts in their analysis. Solid betting strategies include thorough research, analysis of statistics, and careful bankroll management designed to reduce risk. Betting strategy should never be confused with betting systems, such as the Martingale, as such systems use ill-conceived mathematical formulas as well as poor reasoning.
Book: This is short for bookmaker or sportsbook. Books list odds, take bets, and payout on winning wagers.
Bookie: Slang for bookmaker.
Bookmaker: A bookmaker posts odds, takes bets, and pays out on winners. They may also set betting odds. Bookmakers are licensed individuals.
Buy Points: Sportsbooks often allow bettors the opportunity to purchase points on a parlay. Buying points, which is known as a teaser, allows the bettor to alter the spread, giving them a more favorable position. Because teasers offer the bettor an advantage, payouts are substantially reduced. As an example, if a sports bettor plays a seven-point teaser on a two-bet parlay, their odds are reduced, moving from 2.6/1 (+260) to 1.3/1 (+130). Teasers are offered on NFL and NBA parlays.
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CFP: This stands for College Football Playoff, which are games that determine the NCAA FBS (Football Bowl Subdivision) National Champion.Chalk: This is another term for favorite. In the NBA, if the Boston Celtics are a three-point favorite against Philadelphia 76ers, then the Celts are on the chalk side.
Chalk Bettor: A player whose majority of bets are placed on favorites.
Circled Game: If you’re wagering on a circled game, it means that the bookies have set maximum betting limits. This is done when there are unknowns, such as player injury or illness, rumors regarding team controversy, or extreme weather. Opening odds and prop options are often circled as well.
Closing Line: The final betting odds posted before the start of a contest.
Co-favorite: This occurs when two or more sides are offered with identical odds to win. Co-favorites are most often found in futures lines, such as teams favored to win the World Series, Super Bowl, or Stanley Cup.
Commission: Also referred to as vigorish, vig, or juice, it’s the bookmaker’s take on any bet. It also refers to the payment a betting exchange takes from winning wagers.
Commissioner’s Trophy: This is awarded annually to MLB’s World Series champion.
Correct Score: Bettors can pick the exact score of a contest. In soccer, sports bettors can bet on a match ending as low as 0-0 or as high as 5-0 plus all scores in between. The most likely result is the favorite and the least likely result is the underdog.
Cover the Spread: Also known simply as covering, this is any bet where a favorite wins and the final score exceeds the point spread. As an example, if Dallas is at -3.0 and they beat Philadelphia 28-24, they would cover the spread and all Cowboy wagers would be winners. If, on the other hand, Dallas (-3.0) won 21-20, they would win outright but not cover the spread, which means all point-spread wagers on the Cowboys would be lost and those on Philadelphia would be winners..
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Decimal Odds: One of a trio of popular odds formats, which includes fractional and moneyline odds. Decimal odds are also known as European odds. Along with being offered in Europe, you’ll find decimal odds in Australia, New Zealand, Canada, and Singapore. In comparing the three formats, decimal odds express EVEN money as 2.00 while moneyline odds display even odds as +/-100 and fractional as 1/1.
Dog: This term is the shorten form of underdog. The dog is the team that is less likely to win. Moneylines express underdog odds with a plus (+) sign in front of the number. That number represents the amount of cash a sports bettor will win if they risk $100. Thus, if the Detroit Lions are the dog and listed at +425, you stand to receive a total payout of $425 plus the $100 you wagered ($525) if they win. The dog in spread betting is given points. In our Detroit example, the point spread for the Lions might be +7.5, which means if they win outright or lose by seven or fewer points, they represent the winning bet,
Double Action: Also known as an “If bet,” a double action bet automatically takes the stakes and/or winnings from a successful first wager and places that amount on a second previously made betting option. With a double action wager, if the first bet is a loser, the second one is not made and is dead.
Double Result: A single betting option that combines the score of a game at halftime and the score at the end of the same game.
Double-header: Two games that are played back-to-back on the same day. Most common in baseball, a double-header will often take place if a game from the previous day was rained out.
Draw: A draw occurs when the game ends in a tie. This can occur naturally in soccer, where you can wager on a draw, and it can occur in football and basketball when the odds are expressed as an integer. All ties result in a push, where all bets are returned. A major exception is three-way lines found in soccer that offer tie/draw as one of three betting options.
Drift: After odds are first listed, they may grow longer. As an example, the New York Giants may have early odds of +210, which may drift to +220 and, later +235.
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Edge: An edge is what every sports bettor looks for. An edge occurs when a sports bettor gains an advantage by garnering information not generally available to the public. That information usually comes through inside sources or in-depth research.
EPL: This is the abbreviation for English Premier League, which is the top-ranked football association in the United Kingdom and one of the most prestigious leagues in the world.
Even money: Odds that return the exact amount of the original bet. A $100 bet on fractional (1/1) moneyline (+100) or decimal (2.0) odds would return a $100 profit.
Exotic Bet: Also known as exotics, this sports wager includes any bet that is not a point spread, moneyline, or over/under (total). Exotics include proposition or prop bets and specials.
Exposure: A bettor or bookmaker’s exposure is the amount of money a bettor or bookmaker may lose on a given wager.
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Favorite: In moneyline odds, the favorite is listed as a negative number. If Green Bay is playing San Francisco and the favorite Packers are at -345, bettors must wager $345 to win $100. Also, the point spread offers the favorite as a negative number. In the Packers/49ers example a $345 moneyline converts to -7.0 for Green Bay at -110.
FIFA World Cup: The World Cup, which is played every four years, is the most bet on sporting event on the planet. Soccer teams from around the world compete in a massive tournament that spans countries and continents.
Final Four: This phrase most commonly refers to the NCAA Men’s Basketball Tournament semi-finals, which are comprised of the last four teams in the tournament. Two Final Four games are played prior to the final National Championship contest.
First Half Bet: A wager that’s 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. A variety of team and player props are also offered as first half bets.
First/Last/Anytime Scorer: Offered on many sports, these are three pre-game prop betting options. As an example, in the NHL, all skaters will have odds on whether they will score the first and/or last goal, plus whether they score at any point during a game.
Fixed Odds: When a bet is made, and a bookmaker accepts it, the odds that are presently published are fixed. If a bet is placed on the Las Vegas Raiders at +7.5, and before game time, the line moves down to +7.0, sports bettors who purchased the Raiders at +7.5 retain the previously accepted fixed odds. Also, it is a term for moneyline odds.
Fractional odds: Common in the UK, fractional odds are in a “big three” group that includes decimal and moneyline odds. A fractional line of 10/11 equals -110 in moneyline odds and 1.91 in decimal pricing. They each return a $90.91 profit on a winning $100 bet.
Futures Bet: Commonly known as futures, this is a wager usually placed on an overall outcome, such as which team will win the Super Bowl, Stanley Cup, NBA Finals, or World Series. Other futures offer props on individual player performances and conference and division winners. Many futures are published the day after a sport’s championship is settled. As time progresses, futures odds change, especially once the season progresses. Futures are also offered on soccer, major horse races, car racing, and golf and tennis tournaments as well as many other sports, political, and entertainment events.
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Gambler’s Fallacy: Too many sports bettors believe in the Gambler’s Fallacy, which links individual upcoming outcomes to past performances. The most common example of this is a bettor’s belief that according to the Law of Averages, a team that is on a losing streak is due to win. The Law of Averages supposes future events are likely to balance out any past deviation from a presumed average. However, this is not true. The fact is games are self-contained events and a previous game’s outcome has no direct influence on the next game’s outcome. The Gambler’s Fallacy is especially dangerous when a sports bettor keeps upping the ante after every loss, believing that according to the Law of Averages, they will likely win their next bet.
Grand Salami: This refers to a specific type of prop bet where players pick the over/under on the total goals/runs/points scored in all of the games of a specific league in one day. If there are seven NHL games being played on one day, the line may be set at 36.5 combined goals with minus 110 on both sides.
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Half Ball Handicap: Soccer betting odds where 0.5 goals, plus or minus, is the point spread.
Half Time Bet: These are wagers placed on the outcome of the second half of a competition. Half time bets can be placed during intermission or as live wagers once the second half begins. With this type of bet, a team may win the second half but lose the game.
Handicapper: A sports bettor who researches and analyzes matchups prior to placing a bet, or someone who researches and analyzes games, offering a projection that bettors may use in placing their wager are handicappers. This term also refers to oddsmakers.
Handicapping: Bookmakers practice handicapping, which is designed to level the playing field in a game. Bookies do this through the point spread. By giving points to one team and taking them away from another, sportsbooks are able to offer bettors the chance to wager approximately the same amount and win the same amount on either team. With handicapping, which involves thorough research and analysis, the Kansas City Chiefs may be at -10.5 (-110) and their opponents, the Los Angeles Chargers at +10.5 (-110). A final score that has K.C. at 37 and L.A. at 27 means that those who bet the Chargers win, while a score 37-26 in favor of the Chiefs offers Kansas City bettors the win.
Handle: This is the total amount of cash a bookmaker brings in on a single game or event. The total handle bet on Super Bowl LIV in Nevada was $154.7 million. In that contest, Kansas City completed a come-from-behind win over San Francisco, which allowed bookmakers to collect $18.8 million in earnings.
Hart Trophy: This is awarded to the most valuable player during the NHL regular season.
Hedge: Sports bettors, in an attempt to cut losses, will often hedge their bets. With this risk management tool, players wager on the other side of their original bet. Thus, although with a hedge the bettor limits the amount of their return, they virtually guarantee they will win some amount. Most often, the hedge is used to ameliorate the risk associated with a potential losing wager.
Holding Your Own: This describes a bettor who is on a streak where they aren’t winning or losing but rather just breaking even on a series of bets.
Home Field Advantage: This refers to the perceived benefit a team gains when playing at home in their own venue in front of a friendly crowd. In hockey, it known as home ice advantage and in basketball home court advantage.
Hook: This is a half point added to spreads and game total odds. A hook guarantees a wager will not be graded as a push. One side will win, and one side will lose.
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If Bet: An if bet is a variation of the parlay, which reduces the risk for the player. Unlike a regular parlay where the entire wager is paid irrespective of the outcome of any game, with an if bet, succeeding wagers do not go forward once a bet is lost. Thus, on a two-team if bet, a player applies the stake and/or profit of a winning wager as a bet on a second game if the initial wager is successful. If they lose that first bet, the second wager does not go forward. Because the if bet reduces risk, payouts are lower than those on standard parlays. A $110 wager on a standard two-bet parlay offers a $286 profit while the same wager on the if bet gives you a $200 profit.
In Play Betting: This term refers to bets placed on an event after it has started. Also known as live betting, bookmakers post multiple in-play betting options throughout most major sporting events. When making a live bet, it’s important to pay attention to odds, which can change quickly and often as the game progresses. You must, of course, constantly monitor the game when live betting.
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Joint Favorite: This occurs when two or more sides for the same event are posted with the same betting odds.
Juice: Also known as vigorish or vig, juice is the commission set by bookmakers and is attached to spread and total betting options. If Minnesota is at -3.5 (-110) versus Green Bay, which is at +3.5 (-110), rather than returning $110 on a $110 bet ($220 total), the bookmaker will return $100 plus the bettor’s original wager ($210 total), keeping the $10 or 10 percent as their commission. Plus, the bookie retains all losing bets. Bookmakers also earn vig on moneyline wagers by designing the odds so that they slightly boost the amount one must bet on the favorite and slightly reducing the amount paid out on the dog.
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Larry O'Brien Trophy: This trophy is awarded annually to the NBA championship team.
Laying Points: If you are laying points, you’re wagering on the favorite.
Layoff: This type of wager is utilized by sportsbooks and bettors to reduce risk on a certain market. Popular with parlay bettors, a layoff wager allows players to bet on both sides of the ticket of the last open bet in a string of wagers, guaranteeing a profit if they win or push all previous bets.
Limit: Sportsbooks set limits on minimum and maximum bets accepted, and sports bettors are encouraged to set limits for their bankroll by dividing it into betting units and practicing solid money management. Some sportsbooks set maximum betting limits on professional bettors.
Lines: Lines at a sportsbook are the odds posted by the site or establishment. When you check the line on a game, you are reviewing the odds for that contest.
Linemaker: This is another name for a bookmaker or bookie, who is responsible for setting daily wagering lines and prices.
Listed Pitchers: For MLB games, lines include the projected starting pitchers, as these individuals are seen as being the most important part of the betting equation. For action to be live, both listed pitchers must start. If one or both are scratched, then all bets on that game are void and all money is returned to the bettors.
Live Betting: Live or in-play betting is offered by many top sportsbooks. Once the game begins, live wagering may be engaged. In-play betting pages usually include a live feed of the game so that bettors can follow the action. As the game progresses, odds are constantly updated and offers adjusted. Props such as next goal scorer, next team to score, and final score, are often available.
Lock: If a team is a lock, it means there’s no doubt that they will win and are a sound wager. However, all players should beware of locks, as there are no guarantees in sports betting regarding end results.
Longshot: This betting term refers to a team that is a major underdog. If a longshot does win, they will pay well.
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March Madness: Officially known as the NCAA Men’s College Basketball Tournament, this event determines which team will be the National Champion. This single-elimination tournament, which is held annually over three weeks from mid-March to early April, includes 68 Division I teams.
Martingale System: This is a betting system that relies on the Gambler’s Fallacy and the Law of Averages. With the Martingale, if a bettor loses their first wager, they double their next bet, and they continue doubling their bet until they win. Once they win, they go back to their original wager amount. Note, Martingale is not a form of strategy, and it does not work.
Middle: This refers to when a player cashes on both sides of a betting option. Sports bettors have the chance to middle when a point spread moves up or down prior to the start of the contest or when they can find arbitrage opportunities.
MLB: Major League Baseball is the world’s top-ranked professional baseball league and consists of 30 teams that are based in the United States and Canada.
MLB Draft: Held every June, MLB teams select prospects from colleges, amateur baseball teams, and high schools. The MLB draft is five rounds and most of the players selected will be assigned to minor league teams.
MLS: Major League Soccer is the top-ranked professional soccer league in North America and consists of 27 teams that are based in the United States and Canada.
Moneyline: This bet concerns choosing which team will win outright. This means that moneylines are straight up wagers, without any point spread. Favorites are listed with negative (-185) odds while underdogs are listed as a positive (+165). In our example, bettors must wager $185 on the favorite to win $100, while $100 must be bet on the dog to win $165.
Multiple Bets: Also referred to as multiples or accumulators, these are parlay wagers. The multiple bet is a single wager that is comprised of at least two sides on a single ticket. In order for the player to cash, all sides must win (or push).
MVP: Each league or conference has a Most Valuable Player, as do championship games and series. The MVP award for a league or conference is based on a player’s regular-season performance, while game or series honors are based on their postseason efforts.
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Nap: The nap, which is like a lock, is the best bet on a day’s betting card. It’s designated by handicappers.
NASCAR: The National Association for Stock Car Auto Racing is the governing body of professional stock car racing in the U.S. There are 17 full-time NASCAR racing teams.
NBA: The National Basketball Association is the world’s top-ranked professional basketball league and consists of 30 teams that are based in the United States and Canada.
NBA Draft: Held every June, NBA teams select amateur players during a two-round draft. Of the four major North American sports, this is the smallest number of rounds. Only 60 players are chosen.
NCAA: The National College Athletic Association is the governing body for all college sports in the U.S.
NFL: The National Football League is the world’s top-ranked professional gridiron football league and consists of 32 teams that are based in the United States.
NFL Draft: This is a seven-round event held every April where NFL teams select top college football prospects. A total of 224 players are chosen.
NHL: The National Hockey League is the world’s top-ranked professional hockey league and consists of 32 teams that are based in the United States and Canada.
NHL Draft: This seven-round player draft is held every June. During this draft, NHL teams select college, junior hockey league, and professional European prospects. A total of 224 players are chosen.
No Action: When betting action on a specific event is canceled, there is no action. When this occurs, all wagers are returned to bettors.
Novelty Bets: Prop, special betting options, and exotics are classified as novelty bets. In essence, any sports betting opportunity that is not a moneyline, point spread, game total, or parlay wager is a novelty bet. Team and player propositions are the most common novelty bets.
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Odds: Betting lines set by a bookmaker on a variety of events.
Odds Formats: The three primary odds formats are Moneyline/American (+/-100), Decimal/European (2.00) and Fractional/British (1/1).
Oddsmaker: Same as a linemaker, a person or group that sets daily betting lines and prices.
Odds-on Favorite: When a team or person is an odds-on favorite it means that they are thought to be superior to the other team or person, which means players will need to bet a lot on the side to win little. An odds-on favorite offers very little value.
Odds Shopping: In order to find the best odds and value, bettors review the odds postings at various sportsbooks prior to betting.
Off the Board: When an event is OTB the contest will be listed but the odds will be removed. This usually happens when there’s been a major injury to a player that could affect the outcome of the game
Outright Betting: This is when a player predicts and wagers on the overall winner of a tournament or playoff series.
Over Bet: In totals wagering, this refers to a player who bets the over on points, runs, or goals scored. As an example, if the over/under of an NFL game is 42.5 and someone bets the over, it means that at least 43 points must be scored for the player to win.
Over/Under: Sometimes referred to as a total or totals bet, this is the number posted on how many runs/goals/points will be scored in a match. Bettors need to determine if the combined scores of both teams will go over or remain under the number.
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Parlay: A single bet, also known as an accumulator or multiple, that consists of two or more sides. Each side must win to produce a winning ticket. A selection that ends as “push” is voided from a parlay ticket, and the parlay continues and still has the potential to pay out.
Parlay Banker: Forming the base of a parlay wager, a banker is a favorite side to which other sides are added. New England (-130) would be the banker with Arizona (+110) and Detroit (+120) on a parlay ticket.
Payout: The amount a bettor collects on a winning wager. The payout includes the original wager as well as the amount won.
Pick ’em: A betting option where the odds are EVEN or exactly the same. A line that has Atlanta at (-110) and Miami at (-110) offers bettors a pick ’em wager.
Pleaser: A pleaser bet, which is available at some books, is the opposite of a teaser. With the pleasure, the bettor gives or sells back points to the sportsbook, putting themselves in a riskier position. A seven-point pleaser on a two-bet parlay, increases the odds, as they move from 2.6/1 (+260) to 8/1 (+800).
Point Spread: Odds posted on a contest that are designed to level the playing field. Favorites are listed with a negative point spread (-6.5) while the underdog is given an advantage, as points (+6.5) are added to their score.
Power Rankings: This term refers to an analytical system by which a person or organization applies various criteria to determine where teams stand in terms of strength within a specific conference or league. Teams are ranked from best to worst.
Price: This is another term for betting odds and/or juice set by a bookmaker.
Proposition Bet: Often referred to as a prop and, also, known as an exotic, this is any type of sports bet other than a moneyline, point spread, over/under, or parlay. Some bookmakers offer props only on special events, such as the Super Bowl or World Series, while other sites provide a range of props for a majority of their games posted.
Proxy: A 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-Las Vegas residents that are involved in special season-long sports pools like the Westgate Las Vegas SuperContest.
Public Money: Amount wagered by the general public on any betting option.
Puckline: These are point spread odds on hockey. Prior to the game, the favorite is listed at -1.5 goals while the dog is at +1.5 goals.
Push: Any wager where the final result is a tie. If a basketball point spread is 11 points and the final score is 120-109 all bets on both teams are graded as a push and all bets are returned
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Quarter Bet: Any wager placed prior to or during any quarter of a sporting event. Prior to an NBA game, Boston may be a -1.5-point favorite to win the first quarter against Philadelphia, which would be +1.5 underdogs. During the quarter, live betting odds will change often.
Recreational Bettor: This type of player bets infrequently and/or only on major sporting events. When a recreational bettor wagers their action is considered to be public money. They are the opposite of a sharp or professional bettor.
Rotation Number: A number assigned by bookmakers to every betting option on the board. Bettors use the rotation number when placing a wager, rather than team names, at betting windows at land-based sportsbooks.
Rookie of the Year: This award honors the top new player in most professional sports leagues or conferences. Futures bettors often take action on which player will be named the Rookie of the Year (ROY).
Runline: In essence, this is point spread pricing in baseball. Prior to a game the favorite is listed at -1.5 runs and the underdog is at +1.5 runs. When live betting, depending on the score of the game, runlines may increase and/or decrease as a game progresses.
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Second Half Bet: Any wager that focuses on the outcome of the second half of any competition. Bettors can place wagers before the second half begins or make live bets once the contest resumes.
Selke Trophy: In the NHL, this trophy is awarded to a forward (not a defenseman or goaltender) who showed the best defensive skills during the regular season.
Sharp: A professional sports gambler who uses a wide range of resources to determine who they’ll bet on. Sharps look at the big picture and base their bets on knowledge garnered from extensive research. Also, professional bettors always shop around for the best odds and will wager on favorites or underdogs when they see good value.
Special: Similar to prop and exotic wagers, special bets are offered in addition to moneyline, spread, and over/under options. During major sporting events, bookmakers offer hundreds of specials.
Spread Betting: This involves taking or laying points when betting on a competition. Selecting Los Angeles at -7.0 odds against New York (+7) is a spread bet. The Rams need to defeat the Giants by at least eight points for a bettor to cash a winning ticket. Bettors lay the spread with favorites and take the spread with underdogs.
Sportsbook: This term refers to a free-standing shop or a dedicated space at land based casinos. Sportsbooks have become popular meeting spots for bettors and sports fans alike. Sportsbooks accept bets on US events, plus action from around the globe, and provide giant screens for bettors to watch the action play out.
Square: Another term for a novice or recreational player and the opposite of a sharp or professional 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.
Staking Method: This method differs from bettor to bettor. Some players set maximum stake limits on each bet they place while others use a percentage of their bankroll as their stake.
Stanley Cup Trophy: This is awarded annually to the top team in the NHL Stanley Cup playoffs.
Steam: Odds that change quickly usually due to a large amount of betting action by sharp bettors or syndicates.
Straight Bet: A single wager on moneyline, spread, or game total betting options.
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.
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Taking Points: A bet placed on an underdog side. Bettors who wager on Washington, with a +1.5 run line, are taking points on a baseball bet. Tickets cash if the Nationals win outright or lose by one run.
Teaser Odds: Any line moved up or down by a bookmaker to entice (tease) bettors. Players can tease odds on a single game by using alternate lines. They can also place a parlay bet from a teaser card issued by a sportsbook.
Teaser Card: A daily list of all games from one specific sport where the odds are higher or lower than the prices posted on the main betting board. Teaser card bets require selecting two or more sides.
Ted Lindsay Award: This is the most valuable NHL player award as voted on by active hockey players only.
Ticket: A receipt issued by a bookmaker to confirm a wager has been accepted.
Tip: Betting advice offered by tipsters and handicappers that suggest the most likely outcome of an event. Tips should never be bet on blindly but can be helpful when combined with proper pregame research.
Tipster: A person or group that offers betting advice. Some tipsters offer free sports wagering advice while others charge a fee for their tips.
Three-way odds: Wagering options that have three sides and include ties as a betting choice.
Total Bet: Over/Under betting on how many goals/points/runs will be scored in a game. If a baseball game total is set at 7.5 runs, bettors need to decide if the combined total runs in that contest will be over or under eight runs.
Two-way odds: Wagering options that have two sides and do not include ties as a betting option.
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Under: Opposite of over on game total betting. If the total on a Lakers vs. Clippers match is set at 238, players who place under bets need the combined final score to be 237 points or less.
Underdog: Perceived to be the inferior side, underdogs are posted with a positive number. If Washington is listed with (+280) odds, in a game against Dallas, the Redskins are the underdog and must win outright to cash on a winning NFL moneyline ticket.
V
Vezina Trophy: This is awarded to the most valuable goaltender during the NHL regular season.
Vigorish: Another term for juice, which is also known as vig. Standard vigorish pricing is -110. With that price, bettors must wager $110 to earn a $100 return.
Vince Lombardi Trophy: This is awarded annually to the winner of the NFL Super Bowl.
W
Wager: Placing a bet on any event offered at a sportsbook, casino or racebook.
Westgate SuperContest: Established in 1988, the Westgate Las Vegas SuperContest is branded as the ultimate football handicapping challenge. Focused on the NFL regular season, there are three contests to choose from: the SuperContest, SuperContest Gold, and SuperContest Reboot.
Wise Guy: This term describes handicappers, sharps, and professional bettors with vast knowledge of the sports they bet on.