BETTING TERMS & GLOSSARY
ACCUMULATORS
A single wager that includes multiple selections, which must all be correct for the bet to be successful. Also known as a Parlay.
ACTION
A bet or wager of any kind.
AGAINST THE SPREAD
Making a wager that is decided by the point spread, meaning that extra points are added to one team for the purposes of the bet. ATS is the acronym commonly used for Against The Spread.
ANTE POST
A type of bet that is placed in advance of an event starting.
ARBITRAGE
A situation where the odds available mean it’s possible to make two (or more) bets and guarantee a profit.
BAD BEAT
A tough loss that looked like it would be a victory.
BANKER
A bet considered to be a sure thing. Also known as a Lock.
BANKROLL
How much money you have to bet with.
BETTING EXCHANGE
A form of betting where you bet against other bettors rather than a bookmaker.
BETTOR
A person who wagers. Also known as a Punter.
BOOKMAKER
An individual or organization who takes bets from members of the public.
BUCK
A $100 bet. Also known as a Dollar.
BUYING POINTS
Paying an additional price to receive half a point (or more) in your favor when placing point spread bets. Also known as Moving the line.
CHALK
A term for the favorite (i.e. the most likely to win) in a game or sporting event.
CIRCLED GAME
A game where the bookmaker limits the betting action for some reason.
COMBINATION BET
Any bet that combines more than one selection.
COVER THE SPREAD
To win a wager placed against the spread.
DECIMALODDS
A format for displaying odds such as 2.0 (1:1), 3.0 (2:1) and so on.
DIME
A $1,000 bet.
DOG
Short for Underdog
DOG PLAYER
A bettor that bets primarily on the underdogs.
DOLLAR
A $100 bet. Also known as a Buck.
DOUBLE
A single bet that contains two selections. Both selections must win for the bet to be successful.
DRIFTING
Odds that are lengthening (i.e. getting bigger) are said to be drifting.
EACH WAY
A bet that is split into two. Half the bet is on the selection to win, half the bet is on the selection to finish in the top few places.
EDGE
To have an edge is to have some kind of advantage.
EVEN MONEY
A term used for odds that are exactly 1:1.
EXOTIC WAGER
A non-standard bet.
FAVOURITE
The most likely winner of a sporting event.
FIELD
A collective term for all the participants in a sporting event.
FIN
A $50 bet.
FIXED ODDS
Odds that are agreed at the time of placing a wager, and stay the same regardless if the odds fluctuate in the future.
FOLD
This term describes the number of selections in a parlay. For example, a fivefold parlay has five selections.
FORECAST
A wager on the 1st and 2nd placed participants in a sporting event, in the correct order.
FORM
Recent past performance of a team or individual.
FRACTIONAL ODDS
A format for displaying odds in the form of a fraction.
FUTURES
Wagers placed in advanced of a sporting event starting.
GET DOWN
A slang term for making a bet.
HANDICAP
Another term for the point spread, where bookmakers attempt to level the playing field in an event for betting purposes, by awarding extra points/goals to the underdog.
HANDICAPPER
A person who studies statistics, performances and past results for the purposes of betting.
HEDGE
To place a bet, or bets, on the opposite side of a previously made bet to either reduce risk or guarantee some profit.
JUICE
Commission charged by bookmakers. Also known as Vigorish, or Vig.
LAY
When a bookmaker (or individual) takes a bet they are said to be laying that bet.
LAY THE POINTS
The act of wagering on the favorite in a point spread bet.
LAY THE PRICE
The act of wagering on the favorite in a moneyline bet.
LAYOFF
When a bookmaker places a wager with another bookmaker to help reduce risk or balance action.
LINE
The odds and/or point spread offered on a sporting event.
LOCK
A bet considered to be a sure thing. Also known as a Banker.
LONGSHOT
A participant in a sporting event that’s considered unlikely to win, and has long odds. Also known as an Outsider.
MONEYLINE
A bet on a participant to win an event with no point spread.
MONEYLINE ODDS
A format for displaying odds that shows how much money you must bet to win $100 (for example -110 means you must bet $110 to win $100) or how much you can win for betting $100 (for example +110 means you win $110 for every $100 bet).
MOVING THE LINE
Paying an additional price to receive half a point (or more) in your favor when placing point spread bets. Also known as Buying points.
NAP
A single selection that tipsters highlight as their best bet of the day.
NICKEL
A $500 bet.
ODDS
Set by a bookmaker, odds determine how much a successful wager will return.
ODDS AGAINST
Odds that are longer than even money
ODDS ON
Odds that are shorter than evens money
OUTSIDER
A participant in a sporting event that is considered unlikely to win, and has long odds. Also known as a Longshot.
OVER-ROUND
The bookmakers profit.
OVER/UNDER
A type of wager on whether the total number of points/goals scored will be more or less than the number set by the bookmaker. Also known as a Totals bet.
PARLAY
A single wager that covers multiple selections. All selections must win for the bet to be successful. Also known as an Accumulator.
PICKS
Recommended bets. Also known as Tips.
POINT SPREAD
The points/goals allocated by the bookmaker to level the playing field in an event for betting purposes.
PRICE
The odds.
PROPOSITION BET
A wager on a specific or unique aspect of a sporting event. Often shortened to prop bet. Also known as a Special.
PUNTER
A person who wagers. Also known as a Bettor.
PUSH
A tied wager.
RETURN
The money won on a successful wager.
RUNNER
An individual who places bets on behalf of someone else.
SINGLE
A wager on one selection. Also known as a
Straight bet.
SPECIAL
A wager on a specific or unique aspect of a sporting event. Also known as a Proposition bet.
SPORTSBOOK
A company that takes wagers from the public.
SPREAD
An abbreviation of point spread.
SPREAD BETTING
A form of betting where the winnings or losses are determined by the amount by which a wager is correct or incorrect. Not to be confused with betting the point spread.
STAKE
The amount of money placed on a wager.
STRAIGHT BET
A wager on one selection. Also known as a Single.
SUCKER BET
A bet that’s significantly in favor of the bookmaker.
TIPS
Recommended bets. Also known as Picks.
TOTALS BET
A type of wager on whether the total number of points/goals scored will be more or less than the number set by the bookmaker. Also known as an Over/Under Bet.
TEASER
A point spread wager on two or more teams, where the bettor is allowed to adjust the spread in their favor in exchange for lower odds.
UNDERDOG
The participant in a sporting event that is expected to lose. Often shortened to dog.
UNIT
The percentage of your overall bankroll that you wager on a given sporting event.
VIG
Commission charged by bookmakers. Also known as the Juice.
