Common futures bets include betting a team to win a championship at the outset of a season, or betting whether the team will win or lose more games than a set line at the start of the season. Sports betting involves staking on the outcome of sporting events. Bettors attempt to predict the result of an event in order to win their bet - and potentially profit. What are sports betting odds? Put simply betting odds are representations of probability. As our Sports Gambling 101 glossary of terms illustrates, betting odds are posted in many different styles and prices. Beyond standard point spread and game total options, bettors also have access. Sports Betting Glossary There are many words and phrases used in sports betting that may not make sense until you understand what they mean. To help you with that, we have compiled the following glossary of sports betting terms as a useful reference.
Just getting started with betting? If so, this betting term explainer guide is for you.
The betting industry is full of different betting terms and explanations making it quite confusing and sometimes offputting for any newbies out there. That’s why we’ve put together this sports betting glossary to help you get started as quickly as possible and minimise any confusion you may have.
You can find the most common betting terms in the list below along with a short description. For more information on each term, click the link and you’ll be taken to a more in-depth explanation.
To start with I recommend you look at the betting terms to do with placing bets and odds. These will help you get up and running so you can enjoy your betting experience from day one.
Accumulators
Accumulators or Accas are bets that combine four or more single bets. For this to be a winning bet, you need to land each selection of your accumulator.
These bets are very popular with football betting.
Ante-post
Ante-post refers to bets placed long before an event actually starts. These bets are often placed before a punter knows which runners will take part, in the aim of accessing increased odds.
For example, you might bet on the World Cup Winner or the Grand National before the runners have been announced. Punters place bets on runners that are likely to take part.
The purpose of this type of betting is to take advantage of favourable odds. The odds typically shorten in the run-up to the event.
Arbitrage betting
Arbitrage betting or arbing is a strategy in which gamblers bet on all possible outcomes at different odds to ensure a profit no matter what the result of the event is.
Gambling Terms Explained
This betting method involves a number of calculations in order to work out suitable stakes.
Asian handicap
Asian handicaps are a method of betting that level the playing field between runners or teams. As the name suggests, Asian handicaps are often used in football betting in the Far East.
As opposed to normal handicaps, this format allows punters the option to bet on half numbers as well as whole numbers. Asian handicaps allow for ¼ goals, ½ goals and ¾ goals.
Bar
In a horse race, certain runners may have such an outside chance that their odds are not quoted before a race. Bar refers to the odds beyond which runners are not quoted. So ’60-1′ bar means runners not quoted have odds at least 60/1.
Banker bet
This betting term refers to your favourite for an event. A banker bet is thought highly likely to win.
Bet
When a punter wagers a certain amount of money on an outcome to happen.
Betting exchange
A peer-to-peer online betting platform that matches gamblers together. They take on no bets as a traditional bookmaker does.
Bookmaker/Bookie
Bookmakers or bookies are licensed betting companies which provide odds and take bets from punters.
BTTS
Both teams to score or BTTS is a betting market in which both teams must score at least one goal during a fixture. BTTS is typically used in football betting.
Cash out
Cash out is a feature that allows punters to settle their bets before an event has finished. You can either lock in a profit or cut your losses if you feel your bet is heading the wrong way.
What Do Betting Odds Mean
Most bookmakers offer some kind of cash out function in 2019.
Chalk
The chalk is another term for the favourite.
Clean sheet
A sporting term used to describe when a team do not concede a goal during a fixture. A clean sheet is a term that’s typically used in football.
Combination bet
A combination bet consists of more than one selection. It differs from an accumulator in that if one selection loses, the remaining bets still stand.
Correct score
Correct score is a betting market in which the punter predicts the exact score of an outcome. It’s often used in football betting.
Double bet
Similar to an accumulator, just with fewer selections. A double bet consists of two single selections in one bet. You need to land both selections to win this bet.
The odds of a double bet are calculated by multiplying the odds for the two single bets. These bets are popular as returns can be high.
Double chance
Double chance betting offers the possibility of two outcomes instead of the common three for a football match. It allows the punter to bet on a win or a draw.
If your selected team wins or draws, your bet wins. If your team loses, so does the bet.
Dutching
This betting term refers to selecting a number of different outcomes for one event in order to ensure the same amount of winnings if any of them win.
Each-way bet
Each way bets are a type of betting format that combines two bets in one. One part of the bet is for the win and the other part is to place. An each-way bet is settled as two bets and the place part is calculated at a fraction of the win odds.
Sports Betting Terms Explained Chart
Evens bet
A betting term for a 50/50 outcome. You’ll also see this written as 2.00 in decimal odds. This bet is easy to work out as you’ll win whatever your stake was. So if you bet £20, a winning bet would return £20.
Exposure
The amount of money a bookmaker or punter stands to lose. This is important when placing bets at a betting exchange.
Favourite
The most likely to win a certain event is called the favourite. The runner or player with the lowest odds.
In-play betting
In-play betting refers to when you place bets after an event has started. Most bookmakers allow you to do this and it’s a very popular betting strategy in 2019.
Lay betting
Lay betting at an exchange is when you bet against an outcome. For example, you’d place a bet on Man City NOT to beat Leicester City.
These bets are only possible to place at betting exchanges.
Lengthen
Lengthen is a betting term that refers to when a bookmaker increases the odds for a certain market.
Multiples
Multiples are just another term for accumulators. They are bets that contain more than one selection and they’re often used in football betting.
Odds on
Odds on refers to the favourite for a certain event. The odds are below evens (2.0 or 1/1).
Outright bet
An outright bet is one that’s placed on the winner of a tournament. For example, you’d bet on the winner of the Rugby World Cup.
Outsider
An outsider is a runner, team or individual that is deemed unlikely to win an event. Outsiders have high odds.
Place bet
With a place bet, you’re betting on a runner or player to finish in a certain position. This is generally used when betting on horse racing.
Price
The odds of a given market can also be referred to as the price.
Punter
An individual who places a wager on a certain outcome.
Request a bet
A relatively new feature that allows punters to build their own bets. The bookmaker must accept the bet and the odds for the bet to be placed.
Sharp bookmaker
A bookmaker that is used by professional punters.
Spread betting
This betting term refers to the process in which traders look to profit from market movements rather than the outcome of an event.
Underdog
The underdog is the opposite of the favourite. They’re unlikely to win an event.
Void bet
In the case of a void bet, your selection is effectively cancelled. Your stake will be returned and you won’t win or lose any money.
That’s it for our list of betting terms. If you feel we’ve missed out some important terms, get in touch and we’ll update the list above.
Doc’s Sports is offering $60 worth of member’s picks absolutely free – no obligation, no sales people – you don’t even have to enter credit card information. You can use this $60 credit any way you please for any handicapper and any sport on Doc’s Sports Advisory Board list of expert sports handicappers. Click here for more details and take advantage of this free $60 picks credit today.
Action - A sports betting wager of any kind, a bet.
Added Game - For sports betting, a game not part of Las Vegas regular rotation posted as an accommodation to customers.
Angles – Using key factors from previous events to predict the results for future outcomes.
ATS - 'Against the spread,' taking points rather than betting with the spread and laying points in sports betting.
Beard - In sports betting a beard is a friend or acquaintance who is used to place bets as to conceal the true identity of the real bettor.
Bet – To risk something on the outcome of an event
Book - In sports gambling a Book is an establishment that accepts bets on the outcome of horse racing and sporting events.
Bookie - In sports wagering a person who accepts bets.
Bookmaker – see ‘bookie’
Buck - Sports betting term for a $100 wager.
Buy (Points) - In sports betting, a player pays an additional price to receive half a point or more in his favor on a point spread game.
Canadian Line - In sports betting the Canadian line is a combination point spread and money line in hockey.
Chalk - The favorite.
Chalk Player - In sports gambling this person is someone who usually only plays the favored teams, rarely betting on the underdogs.
Circled game - In sports wagering this is a game in which the betting action is reduced; usually occurs in added games, games with injuries, bad weather, propositions, or halves of games. These games cannot be included in parlays or teasers
Cover - In sports betting this term means a pointspread win.
Data Mining- Searching through a large volume of statistics to find profitable situations to bet on in the future.
Dime - $1000.00 sports betting wager.
Dime Line - In sports betting a Dime line is a line where the juice is 10%.
Dog - In sports betting, the team perceived to be most likely to lose.
Dog Player - In sports gambling this term refers to one who mostly plays the underdog.
Dollar - $100, in sports wagering.
Double action - An 'if bet' in sports betting that is processed if the precedent bet wins, ties or cancels.
Double Bet - In sports betting a double bet is a wager for twice the size of one's usual wager; also known as 'double pop' or 'doubling up.'
Edge - A persons Advantage when it comes to sports betting.
Even Money - Sports betting term 'Even money' is a bet whose odds are 1/1; a wager in which no vigorish or juice is laid.
Exotic - In sports gambling the term Exotic is any wager other than a straight bet or parlay - also called a prop or proposition.
Exposure - The maximum amount of money a sports book stands to lose on a game.
Favorite - In sports betting this it the team expected to win an event. The quoted odds reflect the extent to which the choice is favored.
Fifty cents - $50.00 of sports betting action.
Figure - For sports betting, Figure is the amount owed to or by a bookmaker.
First half bet - In sports betting this is a bet placed only on the first half of the game.
Future - In sports gambling odds are posted in advance on the winners of various major events including the Super Bowl, the World Series, the Stanley Cup, and the NBA Championship this is called a Future bet.
Gamble- To risk money on the outcome of an event.
Getting Down - Sports wagering meaning making a bet.
Grand Salami - A sports betting term meaning the grand total of goals scored in all the hockey games of the day. It can be wagered to go Over/Under.
Half a dollar - $50.00 in sports betting action.
Half time bet - In sports betting this is a bet placed only on the second half of the game.
Handicapper - When it comes to sports betting a handicapper is one who studies, rates and wagers on sporting events and/or races.
Handicapping - In sports gambling this is the attempt to predict the outcome of sporting events.
Handle - A sports wagering term that means the total amount of bets taken.
Hedging - A sports betting term that means placing wagers on the opposite side in order to cut losses or guarantee a minimum amount of winnings.
Hook - In sports betting a Hook is a half point added to football and basketball betting lines.
Hot game - Sports betting term for a game that is drawing a lot of action on one side by knowledgeable handicappers.
Juice - The bookmaker's commission on a losing bet, also known as 'vigorish.'
Laying the points - Betting the favorite by giving up points.
Laying the price - In sports wagering, laying the price means betting the favorite by laying money odds.
Layoff - sports betting term for money bet by a house with another bookmaker to reduce its liability.
Limit - In sports betting limit is the maximum amount a bookmaker will allow you to bet before he changes the odds and/or the points.
Line - In sports betting, the current odds or point spread on a particular event.
Linemaker - In the sports betting industry this is the person who establishes the original and subsequent betting lines.
Listed Pitchers - In sports gambling a listed pitcher is a baseball bet which will be placed only if both of the pitchers scheduled to start a game actually start. If they don't, the bet is cancelled.
Longshot - In sports wagering this is a team or horse perceived to be unlikely to win.
Middle - To win both sides of the same contest in sports betting event. Wagering on the underdog at one point spread and the favorite at a different point spread and winning both sides.
Money line - odds expressed in terms of money. With money odds, whenever there is a minus (-) you lay that amount to win a hundred dollars, where there is a plus (+) you get that amount for every hundred dollars wagered.
Move the line - A player pays an additional price to receive half a point or more in his favor on a point spread game.
Nickel - $500.00, in on a sports gambling wager.
Nickel line - A sports wagering line where the juice is 5%.
No action - A wager in sports betting in which no money is lost nor won.
Odds- The likelihood of the outcome occurring, stated in numbers form.
Off the board - In sports betting this is a game on which the bookmaker will not accept action.
One dollar - $100.00 in sports betting action.
Opening Line- The earliest line posted for a particular sporting event.
Outlaw Line - Term for the earliest line in sports betting. This is an overnight line that only a handful of players are allowed to bet into.
Over - In sports gambling the 'over' is a sports bet in which the bettor guesses that the combined point total of two teams will be above a specified total.
Parlay - In sports wagering, a bet with two or more teams in which all teams must win or cover for the bettor to win and receive higher payouts.
Pick 'em - When neither team is favored. Also called a 'pick' in sports betting terms.
Point spread - In sports betting this is the predicted scoring differential between two opponents as quoted by a sports book.
Power Ratings- The strength of a team in comparison to another team.
Press - In sports betting this means to wager a larger amount than usual.
Price - Sports betting term for the odds or point spread.
Prop (Proposition) Bet - In sports gambling this is a special wager offered by the sports book on unique and various topics. These wagers can be on sporting events, politics, and even trial outcomes. The wagers use the money line format of pay off odds and might included who scores the first touchdown in the super bowl, who will win the next presidential election, or whether or not O. J. will be found guilty.
Puckline - A puckline for sports wagering is giving odds of a goal spread instead of using a Canadian Line in hockey, where both a goal spread and money line are played.
Puppy - The underdog in an event.
Push - When the contest ends with no winner or loser for wagering purposes.
Round Robin - In sports betting this a series of three or more teams in 2-team parlays.
Run down - In sports gambling this is all the lines for an specific date, sport, time, etc.
Run line - In baseball a spread used instead of the money line.
Runner - One who places bets for another when it comes to sports betting.
Scouts - person(s) who waits for what he thinks is an unusually strong wager. AKA. Sports Player.
Sharp - When it comes to sports betting a sharp is a sophisticated or professional gambler.
Sides - In sports betting, the names of the two teams playing: the underdog and the favorite.
Single action - An 'if bet' in sports gambling that is processed only if the precedent bet wins.
Sportsbook- a person or company that accepts bets.
Spread - A spread in sports wagering is the predicted scoring differential between two opponents as quoted by a sports book. See 'point spread.'
Square - A novice when it comes to sports betting.
Steam - In sports betting steam is when a line starts to move rapidly. Most 'steam games' do not necessarily reflect objective circumstances, but are games that a mass of bettors is drawn to for some reason.
Store - A bookie or sports betting establishment.
Straight bet - In sports betting this is a wager on just one team or horse.
Straight-up- Winning the game without any regards to the pointspread.
Systems- Using trends for the past that you are consistent with to predict future outcomes.
Taking the points - When it comes to sports gambling this means betting the underdog and its advantage in the point spread.
Taking the price - In sports wagering this means betting the underdog and accepting money odds.
Teaser - A teaser is a special type of parlay in sports betting in which you adjust the point spread or total of each individual play. The price of moving the point spread (teasing) is lower pay off odds winning wagers.
Ticket - A sports betting wager.
Tie - In sports betting a tie is a wager in which no money is lost nor won because the teams' scores were equal to the number of points in the given line.
Total - The combined amount of runs, points or goals scored by both teams during the game, including the overtime.
Totals Bet - In sports gambling this is a proposition bet in which the bettor speculates that the total score by both teams in a game will be more or less than the line posted by the sports book.
Tout - Someone who sells their expertise on sports wagering.
Trends- Using the past to predict the future focusing in on only one team.
Under - When it comes to sports betting a under is a wager in which the bettor guesses that the total points scored by two teams will be under a certain figure.
Underdog - The team perceived to be most likely to lose. Also known as the 'dog' in sports betting terminology.
Value - In sports betting value means getting the best odds on a wagering proposition; the highest possible edge.
Vigorish - The bookmaker's commission on a losing bet; also known as juice in sports betting.
Wager- To risk money on the outcome of an event.
Wise guy - A wise guy is the sports gambling term for a well-informed or knowledgeable handicapper or bettor.