Sports Betting Terminology: Complete Glossary for 2026

A

Action Any bet or wager. "I have action on the Lakers tonight" means you bet on the Lakers.

Against the Spread (ATS) Betting on a team to cover the point spread, not just win outright. A team's ATS record shows how often they've covered.

Alternate Line A point spread or total different from the main line. Higher risk/reward than standard lines.

American Odds Odds format showing how much you win on $100 (positive) or how much to bet to win $100 (negative). Example: +150 wins $150 on $100; -150 requires $150 to win $100.

Arbitrage (Arb) Betting all outcomes across different sportsbooks to guarantee profit regardless of result. Also called "sure betting." Learn more →

Asian Handicap A handicap betting system that eliminates the draw option using half-goal and quarter-goal spreads. Popular in soccer betting.

B

Backdoor Cover When a team covers the spread with a meaningless late score that doesn't affect the game outcome.

Bad Beat A bet that loses due to unexpected late circumstances, often feeling like a loss that "should have" won.

Bankroll The total amount of money dedicated to sports betting. Proper bankroll management is essential for long-term success.

Beard Someone who places bets on behalf of another person, often to avoid detection or account limits.

Book / Bookmaker / Bookie A person or company that accepts bets. Legal sportsbooks are licensed operators.

Buying Points Paying extra juice to get a more favorable spread. Example: Moving from -3 to -2.5 by accepting worse odds.

C

Chalk The favorite in a matchup. "Betting chalk" means betting on favorites.

Circled Game A game with reduced betting limits due to uncertainty (injury, weather, etc.).

Closing Line The final odds before an event starts. Considered the most accurate market price.

Closing Line Value (CLV) The difference between the odds you bet and the closing line. Positive CLV indicates you beat the market and likely have long-term edge. Learn more →

Consensus The betting public's opinion, often shown as percentage of bets on each side.

Cover When a team beats the point spread. "The Chiefs covered" means they won by more than the spread.

Correlated Parlay A parlay where the outcomes are related. Example: A team winning AND the game going over (winning teams often score more). Some books restrict these.

D

Dime $1,000 bet. "I put a dime on the game."

Dog / Underdog The team expected to lose, shown with positive odds on the moneyline.

Dollar $100 bet in betting slang.

Double Chance A bet covering two of three possible outcomes (home or draw, away or draw, home or away). Lower odds, higher win probability.

Draw A tie. Relevant in soccer and some other sports. In spread betting, a push.

E

Edge Your advantage over the sportsbook. Positive expected value (+EV) means you have edge.

Even Money / Evens Odds of +100 or 2.00 decimal. You win equal to your stake.

Expected Value (EV) The average profit or loss on a bet if placed infinitely. Positive EV bets profit long-term. Learn more →

Exotic Bet Non-standard bets like props, futures, and parlays. Contrasted with "straight" bets on sides and totals.

F

Favorite The team expected to win, shown with negative odds on the moneyline.

First 5 Innings (F5) A bet on the result after five innings in baseball, eliminating bullpen variance.

Fixed Odds Odds that don't change after you place your bet (standard in most sports betting).

Flat Betting Betting the same amount on every wager, regardless of confidence. Simple but not optimal.

Futures Bets on outcomes determined in the future, like championship winners or season totals.

G

Getting Down Successfully placing a bet, especially a large one. "I couldn't get down more than $500."

Grand Salami A bet on the total combined score of all games in a sport on a given day.

Graded When a bet is settled and marked as won or lost.

Gubbing / Getting Gubbed UK term for account restriction or limitation by a bookmaker.

H

Handicap Points given to the underdog or taken from the favorite to create a more even betting proposition.

Handicapper Someone who analyzes games and makes betting predictions.

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

Hedge Betting the opposite side to guarantee profit or minimize loss, often after a parlay leg wins. Learn more →

High Roller A bettor who wagers large amounts.

Hold The percentage of money the sportsbook keeps after settling all bets. Also called margin.

Hook A half-point in the spread. "The hook saved me" means the half-point determined the result.

I

Implied Probability The win probability suggested by odds. -200 implies 66.7% chance. Calculated as (odds/(odds+100)) for negative, (100/(odds+100)) for positive. Learn more →

In-Play / In-Game / Live Betting Betting on events while they're happening, with odds updating in real-time.

J

Juice / Vigorish / Vig The commission sportsbooks charge, built into the odds. Standard juice is -110 on each side (4.55% margin). Learn more →

K

Kelly Criterion A formula for calculating optimal bet size based on edge and odds. Full Kelly is aggressive; most use fractional Kelly (25-50%). Learn more →

L

Layoff When a sportsbook places a bet with another book to reduce their exposure on one side.

Limit The maximum bet a sportsbook will accept. Also refers to account restrictions on winning bettors.

Line The odds or point spread on a game. "The line moved" means odds changed.

Line Movement Changes in odds, often due to sharp action or new information.

Listed Pitcher In baseball, bets contingent on specific starting pitchers. If either doesn't start, bet may be voided.

Lock A bet perceived as certain to win. In reality, no bet is truly a lock.

Long Shot A large underdog with low probability of winning.

M

Margin The sportsbook's edge built into odds. Also called vig, juice, or overround.

Market A specific betting option. "The moneyline market" or "the spread market."

Middle Betting both sides at different numbers hoping to win both. Example: Team A +3 and Team B -1; if Team B wins by 2, both bets win.

Moneyline A bet on which team wins outright, without a point spread.

Mush / Cooler A bettor believed to bring bad luck. Superstition, not reality.

N

Nickel $500 bet in betting slang.

No Action A bet that's cancelled and stake returned, often due to game postponement or rule violations.

No-Vig Line The "fair" odds with bookmaker margin removed. Used to calculate true probability. Learn more →

O

Odds The probability and payout of a bet. Can be expressed as American (+150), decimal (2.50), or fractional (3/2).

Off the Board A game with no available betting lines, usually due to uncertainty (injuries, weather).

Outright A futures bet on a team to win a championship or tournament.

Over/Under (O/U) A bet on whether the total points/goals/runs will be above or below the set number. Also called "total."

Overround The total implied probability across all outcomes, which exceeds 100% due to the margin. A 104% market has 4% overround.

P

Parlay A single bet combining multiple selections. All must win for the parlay to pay. Higher risk, higher reward. Learn more →

Pick 'em / Pick A game with no favorite; both teams at even odds against the spread.

Player Prop A bet on individual player performance (yards, points, strikeouts, etc.).

Point Spread The handicap applied to the favorite. Chiefs -7 means they must win by more than 7 to cover.

Positive Expected Value (+EV) A bet that will profit over time. The foundation of professional betting.

Price Another term for odds.

Prop Bet / Proposition Bet A bet on a specific occurrence, not directly tied to the final outcome. Examples: first scorer, total touchdown passes.

Public Casual recreational bettors. "The public is on the Chiefs."

Push A tie against the spread where bets are refunded. Example: Chiefs -7, they win by exactly 7.

R

Recreational Bettor / Square A casual bettor without a systematic edge. Contrasted with "sharp."

Reverse Line Movement (RLM) When a line moves opposite to the public betting percentage, indicating sharp money on the other side.

ROI (Return on Investment) Profit divided by total wagered, expressed as percentage. 5% ROI means $5 profit per $100 wagered.

Run Line The baseball equivalent of a point spread, typically -1.5/+1.5 runs.

S

Sharp A professional or sophisticated bettor who consistently wins. Sportsbooks track and respond to sharp action.

Sharp Book A sportsbook that accepts sharp action and doesn't limit winning bettors. Examples: Pinnacle, Circa.

Soft Book / Square Book A sportsbook catering to recreational bettors, often with worse odds but higher limits for casual players. Limits sharp bettors quickly.

Spread Short for point spread. The handicap applied to games.

Square A recreational bettor. Also describes "square" lines (unfavorable to sharps).

Stake The amount wagered on a bet.

Steam / Steam Move Rapid, significant line movement caused by sharp action. Multiple books move simultaneously.

Straight Bet A single wager on one outcome, as opposed to a parlay.

Sure Bet An arbitrage opportunity guaranteeing profit regardless of outcome.

T

Teaser A parlay where you buy points on spreads/totals, accepting lower payouts for better numbers.

Ticket A bet or the record of a bet.

Total The over/under on combined scoring.

Tout Someone who sells betting picks. Quality varies dramatically.

True Odds The actual probability of an outcome, before bookmaker margin is applied.

U

Under A bet that total scoring will be below the set number.

Underdog The team expected to lose, shown with positive moneyline odds.

Unit A standard bet size, usually 1-2% of bankroll. "I bet 2 units" means twice your standard bet.

V

Value When odds are better than the true probability suggests. The foundation of profitable betting.

Value Bet A bet where your estimated probability exceeds the implied probability from odds. Learn more →

Variance The natural fluctuation in results due to randomness. Even with edge, short-term results vary. Learn more →

Vigorish (Vig) The bookmaker's commission. Also called juice or margin.

Void A cancelled bet where stake is returned.

W

Wager A bet.

Whale An extremely high-stakes bettor.

Wiseguy A sharp or professional bettor.

Key Concepts for Value Bettors

Most important terms to understand:

1. Expected Value (EV) - Your mathematical edge
2. Closing Line Value (CLV) - The measure of betting skill
3. Kelly Criterion - Optimal stake sizing
4. Variance - Why short-term results don't reflect edge
5. Arbitrage - Guaranteed profit betting
6. Sharp vs Square - The two types of books and bettors
7. Vig/Juice - The cost you must overcome to profit

Understanding terminology is the first step to profitable betting. Once you speak the language, explore our value betting guide to learn the strategies.