50 Sports Betting Terms: A Helpful Guide To Betting Terminology
Sports Betting Terminology
Below is a list of key betting terms you're more than likely to come across at some point in your life when reading about or discussing a particular contest you're interested in wagering on.
- Action- Placing a wager on a game.
- Bad Beat- An unexpected event or events that cause a bet to lose after showing a high probability of winning. Example: Duquesne (+5) are tied 67-67 at Penn State with 5 seconds left. After a questionable foul call, the Duquesne coach is assessed double technicals and Penn State hits 6 straight free throws to win and cover.
- Book- A website or sportsbook with whom you place your wagers.
- Bookie- A person who accepts bets illegally either over the phone or through a website and charges vig.
- Buy Points - When a player pays an additional price to receive half a point or more in his favor on a point spread game.
- Chalk- The outright favorite. Example: Patriots to win straight up at -300
- Consensus Pick-A team or total that a majority of bettors are placing their wagers on.
- Closing Line-The final line available before a game starts. Sharp bettors will tell you that this is the only line that matters.
- Contrarian- Betting against a team receiving a vast majority of spread bet tickets. Example: Betting on the Rams because the Patriots are receiving 75% of spread bet tickets.
- Cover- When a favorite wins by more than the point spread or an underdog loses by less than the point spread. Example: Betting on Patriots -2.5 and they win by 3.
- Deadbeat- A person who does not pay up after losing. Also known as a "Welcher".
- Dime: Slang for a $1,000 wager.
- Dollar- Slang for a $100 wager.
- Dog - Short for "underdog."
- Edge- Holding a perceived advantage against the odds on a
moneyline , spread, or total. Example: "My buddy is roommates with Jameis Winston at Florida State. He was out getting drunk last night and he has a game against Florida today at noon." - Fade- Taking the opposite side of
another bettors bet . Example: Betting on the Warriors to win the NBA Finals because Stephen A. Smith picked the Cavaliers to win. - Favorite- The team that is expected to win the game as indicated by the point spread. Example: The Patriots are -2.5 points.
- Futures Bet-A long term wager that will usually be decided at the end of a leagues season. Example: Chiefs to win the Super Bowl +600.
- Handicapper- One who tries to correctly predict a winning side, how much a team will win by, or how many total points will be scored. Example: "The Patriots are listed at -3 and I have them capped at -7. I' believe the line is off by 4 points and am going to take the Patriots -3."
- Hedge- Placing a bet in order to guarantee a profit or minimize the risk on an original bet. Example: You originally bet $100 on the Rams at +300. The line on the Patriots moves down to even money (+100). You bet $100 on the Patriots in order to eliminate all risk and still have an opportunity to win $200.
- Hook- A half point in the betting line. Eliminates the chance for a game to “Push”.
- Limit- The maximum amount a bettor is allowed to wager on a certain bet. Example: Most sportsbooks allow a limit of $2,000 to be wagered on an NFL preseason contest.
- Lock - An easy winner.
- Line Shopping-Searching for the best possible odds on a contest through multiple books. Example: Betting the Patriots -2.5 with your bookie because your local sportsbook was offering the Patriots at -3.
- Middle- Betting on both sides of a spread after the line moves in hopes that the final total or game score ends in between your numbers. Example: Betting Patriots -2.5 as well as Rams +3.5 in hopes the Patriots win by 3.
- Moneyline- Taking either team to win the game straight up. Example: Patriots -140
- Move the Line -When enough money is place one side of the bet, the point spread line will move to persude bettors to bet the other way. The sportsbooks want money on both side of every bet to avoid taking a huge loss.
- Mush- A person who is often on the losing side of a bet. Example: Mush: "I hammered the Patriots
moneyline today. There's no way they will lose". Me: "That's terrible news. I took the Patriots -2.5. I'll go ahead and throw my ticket away right now because you stink." - Nickel- Slang for a $500 wager.
- No Action- A wager where nobody wins or loses. Most commonly occurs when a game is unable to finish. Example: Taking the Over in the Mets/Yankees game and the game is postponed due to rain.
- Oddsmaker- The person who decides the odds on the outcome of a game or event.
- Off The Board- When a book takes a line and total down before the game starts. Most commonly occurs when the book is uncertain about
a key players chances of participating in the game. - Parlay- Combining two or more different Total and/or Point Spread bets. All bets must win in order to cash.
- Point Spread- The number of points that the favorite is expected to defeat the underdog by. Also known as the “line”. Example: Patriots -2.5
- Point Buying-Adding points to a line in exchange for increased vig. Example: The Patriots are listed at -3 (-110). You buy a half point in order to get off the 3. You now have the Patriots -2.5, but are charged a vig of -140 as opposed to your original -110.
- Push- When a total or final game score falls directly on the spread number. You will be refunded your wager amount. Example: Betting on the Patriots -3 and they win by exactly 3.
- Reverse Line Move- A line moving away from a team that is receiving more than half of spread bet tickets. Example: The Patriots move from -3 to -1 despite receiving 75% of spread bet tickets.
- Run Line- A 1.5 run standard spread in baseball.
- Sharp- A bettor who wins more money than he/she loses over a long period of time. Also known as a "wiseguy" or "poker".
- Square- A public bettor who usually bets on a side receiving a majority of spread tickets.
- Steam Move- A series of sharp bets causing a sudden, drastic line move. Example: Patriots move from -1 to -3 in the span of 1 hour.
- Tail- To follow
another bettors - Teaser- Placing multiple
spread or total bets with an adjusted line in thebettors favor. Similar to a parlay but you are awarded points toward your total or spread forless favorable vig. You must hit all bets in order to win and a push counts as a loss. - Total- The total number of points that are expected to be scored in a given contest. Example: Patriots vs. Rams O/U 56.5
- Tout- A person who sells or gives away his betting picks.
- Trend- The past results of a similar contest. Most trends can be meaningless and dependant on the opponent. Example: The Celtics are 7-1 against the spread this season when playing at 9:00 on the road. Some trends can prove very profitable. Example: Christmas Day NBA games that start between Noon and 5:00 P.M have gone under the closing total 75% of the time since 2005.
- Underdog-The team that is expected to lose the game as indicated by the point spread. Example: The Rams are +2.5 points.
- Value- Finding an edge on a line you believe is set wrong.
- Vigorish- A percentage of money charged to the bettor when placing a bet. Also known as “juice”. Example: Patriots -2.5 (-110)
- Wager- A bet.
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John Laureno
Placed my first bet in accounting class my Sophomore year in high school. About 3 years later, I started taking a true interest in betting. I began reading books and discovering systems that have displayed steady long-term profit. The most important thing to understand when betting is that discipline is just as valuable as the picks themselves. My aim is to bring you the best bets through the use of data, steam moves, reverse line moves, contrarian plays, and trends. I don't bet on teams; I bet on numbers.
