sports wager Archives

Sports betting has its own set of terminology and jargon that can be helpful to know if you’re interested in sports betting. Here are some common sports betting terms:

Point Spread (Spread): The point spread is a margin of victory that the sportsbook assigns to a game. It’s designed to even out the betting on both sides. For example, if a team is favored by 7 points, they must win by more than 7 points for a bet on them to win.
Moneyline: The moneyline is a bet on which team will win the game outright. It involves odds that represent how much you can win or need to wager on a particular team. Positive odds indicate the potential profit on a $100 bet, while negative odds show how much you need to bet to win $100.
Over/Under (Total): This is a bet on the total combined score of a game. You bet whether the actual score will be over or under the sportsbook’s predicted total.
Parlay: A parlay is a single bet that links together two or more individual wagers. For the bet to be a winning one, all the linked bets must win. Parlays offer higher potential payouts but are riskier.
Teaser: A teaser is similar to a parlay, but you can adjust the point spread or total in your favor. However, this reduces the potential payout.
Futures: Futures bets are wagers placed on an event that will happen in the future, such as betting on the winner of a championship before the season starts.
Proposition Bet (Prop Bet): Prop bets are bets on specific outcomes within a game, such as which player will score the first goal or how many three-pointers a player will make.
Odds: Odds represent the probability of a particular outcome and the potential payout. There are American odds (+/-), fractional odds (3/1), and decimal odds (4.00), with different regions using different formats.
Bookmaker (Sportsbook): A bookmaker is an entity that accepts bets on sports events and sets the odds. Online sportsbooks are popular for placing bets.
Handicap: Handicapping is a process that levels the playing field by giving one team an advantage or disadvantage to even out the betting action.
Push: A push occurs when a bet results in a tie between the bettor and the sportsbook. In this case, the bet is refunded.
Cover: To “cover the spread” means a team has won by enough points to beat the point spread set by the sportsbook.
Juice (Vig or Vigorish): The juice is the commission or fee that the sportsbook charges for taking bets. It’s typically included in the odds.
Live Betting (In-Play Betting): Live betting allows you to place bets on a game while it’s in progress, adjusting your wagers as the game unfolds.
Bankroll: Your bankroll is the total amount of money you’ve set aside for sports betting. Managing your bankroll is crucial for responsible betting.
Chalk: “Chalk” refers to the favorite in a game, usually the team with the lower odds.
Dog: “Dog” is short for underdog, the team or outcome less likely to win, typically associated with higher odds.
Sharp and Square: Sharps are experienced, knowledgeable bettors, while squares are less informed or recreational bettors.

Here are some more sports betting terms and phrases:

Handle: The total amount of money wagered on a particular event or in a sportsbook over a specific time frame.
Public Betting: Refers to bets that are placed by the general public or casual bettors. Public betting trends can influence odds and betting strategies.
Steam: Rapid and significant line movement caused by heavy betting action on one side. This often indicates sharp bettors are backing a particular side.
Closing Line: The final odds or point spread offered by the sportsbook just before an event starts. It can be compared to the opening line to see how it has moved.
Dime Line: A sportsbook with a dime line offers a 10-cent difference between the favorite and underdog odds. This is common in baseball betting.
Nickel Line: Similar to the dime line, but with a 5-cent difference between the odds, often used in basketball.
Unit: A unit is a standardized bet size that allows bettors to manage their bankroll consistently. It’s usually a percentage of the bankroll.
Hedging: Placing additional bets to reduce or eliminate the potential losses of an existing bet. This is often done to secure a profit or minimize losses.
Pushing the Line: Trying to move the point spread or total in your favor by betting on it heavily, typically done by professional bettors.
Arbitrage (Arb): A strategy that involves betting on all possible outcomes of an event to guarantee a profit, regardless of the outcome.
Circled Game: A game that the sportsbook has limited betting options on, often due to uncertainties such as player injuries.
Buy Points: A feature offered by some sportsbooks that allows bettors to adjust the point spread or total by buying or selling points.
Lock: A term used when bettors are extremely confident in the outcome of a bet.
Chasing: When a bettor tries to recoup previous losses by placing larger or riskier bets.
Vig Free: Refers to odds that don’t include the sportsbook’s commission (juice).
Bad Beat: When a seemingly winning bet turns into a losing one due to an unexpected event or late-game score.
Payout: The amount of money a bettor receives if their bet is successful, including the initial wager.
Stake: The amount of money you are betting on a single wager.
Tout: A person or service that claims to have expert sports betting advice for a fee.
Scalping: A strategy involving making quick, small profits on small changes in odds, often seen in live betting.
Dollar Bet: A common term for a $100 bet.
Fading the Public: Betting against the consensus or popular opinion, often a strategy used by sharp bettors.

These are just some of the many terms used in sports betting. It’s important to understand these terms and how they work if you plan to engage in sports betting. Additionally, responsible gambling and understanding the odds are essential aspects of sports betting.