Sports Betting Glossary

Complete guide to betting terminology. Learn the language of sports betting from A to Z.

A B C D E F H J K L M O P R S T U V

A

Action

A bet or wager of any kind. Having action means you have money on a game.

Example: "I have action on tonight's game" means you placed a bet.

Against the Spread (ATS)

A team's record when betting on or against the point spread. Measures how often a team covers the spread.

Example: If the Chiefs are 8-2 ATS, they have covered the spread in 8 of 10 games.

Arbitrage

Betting on all possible outcomes of an event at different sportsbooks to guarantee a profit regardless of result.

Example: Betting Team A at +150 on one book and Team B at +150 on another guarantees profit.

B

Backdoor Cover

When a team covers the spread with a meaningless late score that does not affect the actual game outcome.

Example: Losing team scores garbage time touchdown to cover spread in final seconds.

Bad Beat

A tough loss on a bet where you were winning until the very end, often due to an unlikely or fluky event.

Example: Your team is up 10 points with 1 minute left and loses by 1.

Bankroll

The total amount of money you have set aside specifically for sports betting.

Example: If you have $1,000 dedicated to betting, that is your bankroll.

Book / Sportsbook

The establishment or company that accepts bets on sporting events. Also called a bookmaker.

Example: DraftKings, FanDuel, and BetMGM are popular sportsbooks.

Buying Points

Paying extra juice to move the point spread in your favor by half a point or more.

Example: Moving from -3.5 to -3 by paying -130 instead of -110.

C

Chalk

The favorite in a game or the team expected to win. Betting on chalk means betting favorites.

Example: The Chiefs at -7 are the chalk in their matchup.

Circled Game

A game where the sportsbook has lowered betting limits due to uncertainty like weather or injury news.

Example: Game circled due to star quarterback injury status being questionable.

Cover

When a team wins by more than the point spread, they are said to cover the spread.

Example: If the Patriots are -7 and win by 10, they covered.

D

Dog / Underdog

The team expected to lose a game. The opposite of the favorite.

Example: The Jaguars at +10 are the dog against the Chiefs.

Dime

A $1,000 bet in betting slang.

Example: "I put a dime on the Lakers" means a $1,000 bet.

Double Result

A bet on both the halftime leader and final game winner.

Example: Betting Lakers lead at halftime and win the game.

E

Edge

An advantage you have over the sportsbook in a particular bet. What winning bettors seek.

Example: If you think a team has 60% win chance but odds imply 55%, you have an edge.

Even Money

A bet where you risk $100 to win $100. No juice. Represented as +100 or even.

Example: Betting $50 at even money wins you $50 profit.

Expected Value (EV)

The average amount you can expect to win or lose on a bet if you made it many times.

Example: A +EV bet means you profit long term. -EV means you lose long term.

Exotic Bet

Any wager other than a straight bet, spread, moneyline, or total. Includes parlays and props.

Example: Betting on first team to score is an exotic bet.

F

Fade

To bet against a team or bettor. The opposite of tailing.

Example: "I am fading the public on this game" means betting opposite of majority.

Favorite

The team expected to win the game. Indicated by a minus sign on the spread or moneyline.

Example: Patriots -7 means they are 7 point favorites.

First Half Bet

A wager on only the first half of a game with its own spread and total.

Example: Betting Lakers -3 first half only.

Futures

Bets on events that will be decided in the future, like championship winners or season win totals.

Example: Betting Chiefs to win Super Bowl before season starts.

H

Handicapper

A person who analyzes and predicts sporting event outcomes for betting purposes.

Example: Professional handicappers sell their picks to bettors.

Handle

The total amount of money wagered on an event or at a sportsbook.

Example: Super Bowl handle was over $1 billion this year.

Hedge

Placing a bet on the opposite side of your original bet to guarantee profit or minimize loss.

Example: You bet Chiefs to win Super Bowl. They reach final, so you bet opponent to guarantee profit.

Hook

A half point in a point spread or total.

Example: Moving from -3 to -3.5 is adding a hook.

J

Juice / Vig / Vigorish

The commission the sportsbook charges on a bet. Usually 10 percent, shown as -110 odds.

Example: Betting $110 to win $100 means the $10 extra is juice.

K

Kelly Criterion

A formula used to determine optimal bet size based on your edge and bankroll. Developed by John Kelly at Bell Labs in 1956, it's now the gold standard for bankroll management among professional bettors and investors. Use our Kelly Criterion Calculator →

Example: With 5% edge, Kelly suggests betting 2.3% of bankroll.

Key Numbers

Point spreads that occur more frequently than others due to common scoring margins. In NFL, 3 and 7 are key.

Example: Many NFL games end with 3 point margin, making -3 valuable.

L

Laying Points

Betting on the favorite and giving points via the spread.

Example: Betting Chiefs -7 means you are laying 7 points.

Line

The current odds or point spread on a game.

Example: "What is the line on the Lakers game?" asking for current spread/odds.

Line Movement

When the point spread or odds change from the opening line due to betting action or news.

Example: Line moves from -3 to -5 due to heavy betting on favorite.

Live Betting / In-Game Betting

Placing bets while a game is in progress with constantly updating odds.

Example: Betting Lakers -5 at halftime when game is tied.

Lock

A bet that is considered a sure thing. No bet is truly a lock, but term used for high confidence plays.

Example: "This is a lock!" means bettor is very confident.

M

Middle

Betting both sides of a game at different numbers with the hope that the final score lands between them.

Example: Bet Team A -3 early, then Team A +7 after line moves. Win both if Team A wins by 4, 5, or 6.

Moneyline

A bet on which team will win the game outright with no point spread. Odds reflect the payout.

Example: Lakers -150 means bet $150 to win $100. Celtics +130 means bet $100 to win $130.

O

Odds

The likelihood of an outcome expressed in a format that determines payout. Can be American, Decimal, or Fractional.

Example: -110 American odds means bet $110 to win $100.

Off the Board

When a game is taken off the betting board and no longer available for wagering, usually due to injury or uncertainty.

Example: Game taken off the board after star player ruled out 30 minutes before game.

Over/Under (Total)

A bet on whether the combined score of both teams will be over or under a specified number.

Example: Total is 220.5. You bet Over and game ends 115-110 (225 total), you win.

P

Parlay

A bet combining two or more individual wagers. All selections must win for the parlay to cash, but payout is higher.

Example: Betting Chiefs ML + Lakers ML + Over 220. All three must hit to win.

Pick 'em / Pick

A game with no favorite where both teams have even odds. No point spread.

Example: Celtics vs Lakers is a pick meaning both teams are equal.

Point Spread

The margin of victory the favorite must win by for a bet on them to pay out.

Example: Chiefs -7 means they must win by 8 or more to cover spread.

Prop Bet / Proposition Bet

A bet on something other than the game outcome, like player stats or game events.

Example: Patrick Mahomes Over 2.5 TD passes or LeBron Over 27.5 points.

Public Money / Square Money

Bets placed by casual or recreational bettors, often heavily favoring favorites or popular teams.

Example: 80% of public money on Chiefs means casual bettors favor them heavily.

Push

When a bet results in a tie. Your stake is refunded with no win or loss.

Example: You bet Chiefs -7 and they win by exactly 7. It is a push.

R

ROI (Return on Investment)

The percentage return on your total amount wagered. Measures betting profitability.

Example: Wagering $1,000 total and profiting $100 is 10% ROI.

Run Line (MLB)

The baseball equivalent of a point spread, almost always set at 1.5 runs.

Example: Yankees -1.5 means they must win by 2 or more runs.

S

Sharp / Sharp Money

Professional or expert bettors who consistently win. Their bets move lines.

Example: When sharp money hits a side, sportsbooks adjust the line quickly.

Spread

Short for point spread. The projected margin of victory set by oddsmakers.

Example: Cowboys -6.5 spread means they are favored by 6.5 points.

Square

A casual or recreational bettor who typically loses money long term. Opposite of sharp.

Example: Squares often bet favorites and overs blindly.

Steam

When a line moves dramatically and quickly across multiple sportsbooks due to heavy sharp action.

Example: Line steams from -3 to -5 in 5 minutes across all books.

Straight Bet

A single wager on one team or outcome. The simplest and most common bet type.

Example: Betting $110 on Chiefs -7 is a straight bet.

T

Taking Points

Betting on the underdog and receiving points via the spread.

Example: Betting Jaguars +10 means you are taking 10 points.

Teaser

A parlay where you adjust the point spreads or totals in your favor for a lower payout.

Example: 6 point teaser moves Chiefs -7 to -1 and Packers +3 to +9.

Ticket

A bet receipt or the bet itself.

Example: "I have three tickets on tonight's games" means three active bets.

Tilt

Making emotional or irrational bets after a loss, often leading to bigger losses.

Example: Doubling bet size after bad beat is betting on tilt.

Total

Same as Over/Under. A bet on the combined score of both teams.

Example: Total 48.5 in NFL game. Bet Over if you think combined score exceeds 48.5.

U

Underdog

The team expected to lose, getting points on the spread or plus money on moneyline.

Example: Dolphins +7.5 means they are 7.5 point underdogs.

Unit

A standard measurement for betting amounts, typically 1% of your bankroll. Used to track performance.

Example: With $1,000 bankroll, 1 unit equals $10. Bet 2 units means $20.

V

Value

When the odds on a bet are better than the actual probability of the outcome occurring.

Example: If a team has 50% win chance but odds imply 45%, there is value.

Vig

Short for vigorish. See Juice.

Bankroll & Math Concepts

Bankroll Management

A systematic approach to managing your betting funds to minimize risk and maximize long-term profitability. Involves setting bet sizes based on your total bankroll using methods like unit sizing or percentage-based stakes. Proper bankroll management prevents going broke during losing streaks and allows sustainable betting over time.

Flat Betting

A betting strategy where you wager the same fixed amount on every bet regardless of confidence level or odds. This conservative approach offers consistent risk exposure and is often recommended for beginners. Flat betting sacrifices potential upside from varying bet sizes but provides stability and easier bankroll tracking.

Fractional Kelly

A modified version of the Kelly Criterion that uses a fraction (typically half or quarter) of the full Kelly recommendation. Reduces variance and risk of ruin while still maintaining positive expected growth. Many professional bettors prefer fractional Kelly because full Kelly can be too aggressive and lead to large drawdowns. Calculate your optimal bet size →