Sportsbetting Glossary

<< Go back to Beginner’s Guide page

Gambling terms and Sports betting definitions

A  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z

A

Accumulator An accumulator is a single bet that links together two or more individual wagers and is dependent on all of those wagers winning together. Also known as parley or combined bet
Action A valid bet or wager.  Different rules apply in different sports in determining if a bet is action or no action
Advantage A bookmaker’s commission. Also known as juice or edge
Against the Spread (ATS) Betting against the spread means the bettor is using the points and betting on the underdog with the better odds.
American odds If US Odds are indicated with a ‘+’ sign then they show the amount you would win for a 100 stake. If there is a ‘-‘ sign then they show how much you need to stake to win 100
Angles Using key factors from previous events to predict the results for future outcomes.
Ante Post A bet placed in advance predicting the outcome of the game before the event commences. Also known as Futures
Any to Come (ATC) A term used to describe when the whole or part of the returns from one wager is automatically reinvested on a subsequent bet
Arbitrage Placing one bet per each outcome with different betting companies where the bettor can make a profit regardless of the outcome. Caused due to difference in odds
Asian Handicap Asian handicap is a form of betting in football, in which the stronger team is handicapped by having to score more goals due to virtual goals added to the underdog. The number of possible outcomes are reduced from 3 (1X2) to 2 by having the draw betting option removed.

 

                  B

Backed         Backed A player or team that is very popular and has lots of betting support
Bad beat A wager that is lost under unusual or unexpectedly
Bank Roll (BR) Indication of how much credit is available in the bettor’s account
Banker A betting selection that is supported very strongly and highly expected to win
Bar Price Bar Price is the minimum odds for any of those selections not quoted
Beard A friend or acquaintance used to place bets to conceal the true identity of the real bettor
Bet To risk something on the outcome of an event
Betting Exchange An intermediary where you bet against fellow players, rather than the bookmaker.
Bid The sum of money placed on a bet
Bettor A person who places bets Also known as Punter
Bonus Comp points and rewards granted by bookmakers to bettors
Book An establishment that accepts bets on the outcomes of sporting events
Bookmaker (Bookie) A person or organisation who takes bets on sporting events
Bottle UK term for odds 2 – 1
Buy (Points) A sports bettor will sometimes have the option to pay a higher price in order to buy additional spread points for a match; generally sold as half a point or more. Also known as Move the Line
Buy Price The higher figure quoted by a Bookmaker
Buy the Rack To purchase every possible combination ticket

 

                  C

Carpet UK term for odds 3-1
Chalk A favoured player or team
Chalk Player A player who only bets on the favoured team or player
Closing Line The last and final point spread before the event ends
Combination bet Selecting a number of players or teams to finish first on different events
Combined bet A single bet on several sport events simultaneously where all the bets must win.
Correct Score Indication of how much credit is available in the bettor’s account
Cover Bar Price is the minimum odds for any of those selections not quoted
Credit Betting A betting selection that is supported very strongly and highly expected to win

 

                D

Deposit Betting Betting with money deposited in advance with a bookmaker0
Dividend A payout or return from a winning bet
Dog The team or player perceived to be most likely to lose. Also known as Underdog
Dog Player A bettor who mostly bets on dogs/underdogs.
Double An accumulator which involves two selections or a combined bet with 2 sporting events
Double Action An ‘if bet’ that is processed if the preceding bet wins, ties or cancels.
Double Bet A bet that is a wager for twice the size of one’s usual wager. Also known as Doubling Up
Double Header Two separate games played at the same teams on the same day
Double or Nothing An even-money bet, a bet that pays off exactly the amount wagered
Doubling Up After a loss the player doubles the size of his previous bet hoping to win back the money lost and make a profit.
Draw When two teams or competitors finish the game with the same score
Draw No Bet To predict the outcome of a match
Drift When the price of a selection gets bigger or odds increase, often due to lack of support, odds that have lengthened

 

E

Earnings The sum won once subtracted the amount wagered
Edge A punter’s advantage in a bet
Even Money A 1:1 odds bet where you win the exact amount you bet
Even/Odd A bet to predict where the total score will be odd or even
Event A tournament, match or any other betting contest
Exotic Any wager other than a straight bet or parlay for example, the number of free kicks or fouls. Also called proposition
Exposure The maximum amount or the maximum number of bets a bookmaker will except as a bet on an event

 

                F
Fade A wager against a particular person
Favourite A team or individual that is excepted to win in a particular event
Figure The amount owed by or to the bookmaker
Firing Betting a lot or wagering large sums
First Half Bet Wager placement based on the half time score
Fixed Odds The odd that was set while you place your wager. No matter how much the odds fluctuate, the odds at the moment of placing the bet is fixed odds
Flag 23 bets; a Yankee plus 6 sungle stakes
Fold 4 selections of bets where the total number of bets equals 23
Forecast Wagering on what selections finish 1st and 2nd for an event. Also known as Perfecta or Exacta
Full Cover A bet consisting of all available multiple bets over a given number of selections
Futures Bets placed in advance predicting the outcome of an event. Also known as Ante Bets

 

               G

Gamble/Gambling Risk money, or anything of value on the outcome of an event
Get down/Getting down Place a bet
Goliath A multiple bet consisting of 247 bets involving 6 selections of different events. These include 28 doubles, 56 trebles, 70X4 folds, 56X5 folds, 28X6 folds, 8X7 folds and one 8 fold.
Gross Win The win amount before deducting expenses

 

             H

Half Time Bet A bet placement based on a half time result
Half Ball A bet on events where a draw is a definitely possibility. Eg: football
Handicap A bet where certain points are added to the underdog’s tally with the intention of creating an even winning chance for each team
Handicapper A person who studies sports or events and predicts outcomes
Handicapping The attempt to predict the outcome of a sporting event through research
Handle The total amount of bets taken
Head to head bet A bet on one of the 3 basic possibilities (win, lose, draw) between 2 teams competing
Hedge To bet against your original wager in order to minimize risk if there was to be a loss. Place a bet against team A and place a smaller bet against team B
Heinz A multiple bet consisting 57 bets involving 6 selections. These involve15 doubles, 20 trebles, 15X4 folds, 6X5 folds and one 6 fold.
Hold The percentage the house wins
Home Field Advantage Edge the home team is expected to have as a result of familiarity with the playing field and mass fan support
Hook Half a point added to a particular team
Hot game A sporting event that catches a lot of attention
House The bookmaker with which you are betting with

 

               I

If bet Bet that is placed only if a certain outcome of a separate event occurs
In play/In the run Betting on an event that has already commences, live betting
In The Red Place odds on
Index Betting Spread betting

 

               J

Joint Favourites When the bookmaker cannot distinguish between 2 teams as favourites and both are among the favourites
Jolly The bookmaker’s slang for ‘favourite favourite’
Juice A form of commission kept by the house. Also called Vigorish or Vig

 

                K

Knockout Competition A contest where the a set number of players or teams play against each other and eliminate each other round by round until one team remains.

 

              L

Lay Bet that an outcome will not occur; to place a bet that a team will not win in a league or an event will not occur
Layer A term for a Bookie
Laying a price Bet a favourite; lay the points
Layoff A bet by a house with another bookmaker to reduce its risk or liability
Lengthened A situation when the odds of an outcome has increased after which the odds represent that the outcome is less likely to occur
Limit The maximum wager that the bookmaker is willing to accept on the available selections
Linemaker A person who sets points spread or odds of an upcoming event
Lines The current odds or pointspread on a particular event
Line bet A bet where the underdog is given certain points head start to create an even bet. Also known as handicap
Lock A guaranteed winner (US)
Long Odds Odds that are greater than 1,000
Long shot A player or team that is least favoured and large underdog
Lucky 15 A multiple bet consisting of 15 bets involving 4 selections. These include 4 singles, 6 doubles, 4 trebles and 1 fourfold
Lucky 31 A multiple bet consisting of 31 bets involving 5 selections. These include 6 singles, 10 doubles, 10 trebles, 5 fourfolds and one 5 fold
Lucky 63 A multiple bet consisting of 63 bets involving 6 selections. These include 6 singles, 15 doubles, 20 trebles, 15 fourfolds, 6 five folds and 1 six fold.

 

             M

Margin The positive difference between scores or points of 2 competitors or teams
Margin bet A bet where you place a wager for the positive difference between the score or points of 2 competitors or teams
Match Betting The standard form of fixed betting which is represented by 1X2 where 1 is the win for the first party, 2 is the win for the second party and X is a draw.
Middle To bet on both sides of a game at different point spread in the hope of winning both; if a bettor played Charlton (minus 4) and Collingwood (plus 6, and Charlton win 30 – 25, the bettor would win both bets.
Middler A player that bets both sides of the game
Moneyline Odds that represent the winner of a contest where the bettor can only pick a winner and no pointspread is involved
Moral An absolute certainty (slang)
Move the line A situation where the bettor pays to receive half a point or more in his favour on a pointspread. Also known as Buying Points
Multiples/Multi bet A bet involving more than one selection. Also known as Accumulators

 

N

Nap A tipster’s best bet of the day
Newbie A person who is new to gambling or sports betting
Nickel Line A  betting line where the juice or bookmaker’s edge is 5%
No action A bet where no money is won or lost
Number Spread An index spread based on the number of goals, runs or points scored in an event

 

              O

Odds The returns a bookmaker offers on a bet placed on a particular selection
Odds Against The odds that are greater than even. Eg. 2.5, 5/2, +120
Odds complier A person who decides the price and odds of a team or competitor. Generally the bookmaker
Odds On The odds that are lower than even. Eg. 1.8, 3/2, -120
Odds on favourite The odds on a team or player that is considered favourite
Oddsmaker A person who creates odds on sporting events.
Off the board (US) A game on which bookmakers are not accepting wagers.
Opening Line The initial point spread or moenyline that is offered by a bookmaker
Out An illegal bookmaker
Outlaw line The earliest line on an event that only handful of players are allowed to bet on
Outsider A competitor or team with long odds who is not considered favourite
Over A wager on whether the combined amount of point or goals by both teams will be over the priced amount.
Overlay A situation where the odds of the game favour the bettor rather than the house
Over-under A bet in which the total number of points/goal is predicted and bet on. Eg. If you bet over 2.5 and the score is 2 – 1, the total is 3. Anyone who bet under loses and over wins.

 

              P

Parlay A bet on two or more teams or outcomes where the original stake and the win is carried forward to the next event and all selections must be a win for the parlay to win. Also called Accumulator
Past Post To place a bet after an event has started
Patent A multiple bet consisting of 7 bets involving 3 selections. These include a single on each selection, 3 doubles and 1 treble
Perfecta A forecast in which you predict the outcomes
Pick/Pick’em A game where neither teams or competitors are favoured
Place A position in the game or league
Player The bettor
Pointspread The points given to the underdog to levels the odds with favourite for betting purposes. Also known as handicap
Press Betting unusually large amount
Price The odds or spreadpoint
Proposition bet A special wager offered by sportsbook on unique topics; this could be sports, politics etc.
Punt A bet or a gamble on an event
Punter A person who places bets on events
Puppy An underdog
Push A draw

 

              R

Return Your total winnings or profit on a bet
Risk The amount of money wagered on a game or event
Round Robin A bet consisting of 10 bets which include 6 Singles, 3 doubles and 1 treble
Rundown All the betting information and lines on a specific date and time.
Runner A person who places bets on behalf of someone else. Also known as a beard

 

              S

Scalper Someone who attempts to profit from the differences in odds from book to book by betting both sides of the game at difference prices. A person who does arbitrage
Score To win a lot of money
Selection The range of betting options available to select for wagering
Sharp A professional gambler
Shorten A situation when a bookmaker reduces odds signifying that event more likely to occur.
Shortstop Someone who bets small amounts and not very often
Shut Out When a bettor is too late to place a bet and is still waiting in line when the window closes
Side
Single A single bet on one selection to win one event. Also known as straight-up bet
Single Stakes About A bet consisting of 2 bets on two selections (one on each)
Special bet Bets available on unique events or outcomes in sports, politics and various competitions
Sports betting A form of gambling that involves placing a wager on the outcome of a sporting event
Sportsbook An entity that accepts sports bets
Spread The point given to the underdog to level the odds with the favourite. Short for Pointspread
Spread betting A bet in which wager is won or lost according to whether you correctly predict the result of an event. Betting on the moneyline
Square Someone that bets casually. Not professional
Stake A wager
Steam Heavy movement on a betting line cause by many people betting on it
Straight bet A bet on just one team or athlete
Sucker bet Parlays, teasers or exotics (a type of bet to lure people to bet more)
Super Yankee A multiple bet consisting of 26 bets with 5 selections. These include 10 doubles, 10 trebles, 5 fourfold and 1 fivefold.
System A formal betting method based on calculated possibilities of each possible outcome

 

             T

Take a price Betting on the underdog and accepting the money odds
Taking the Points Betting on the underdog and taking advantage of the pointspread
Tapped out Broker
Teaser A bet on 2 or more teams where you adjust the pointspread in your favour
The Cut The amount charged by the bookmaker for their services/ house edge
The Take The amount charged by the bookmaker for their services/ house edge
The Ticket A sports betting wager
Tie A wager in which no money is lost or won
Tipster A person who can advise on sports betting
Toke A tip or gratuity
Toss Up A game or competition which is pretty much even or close to pick’em
Total A combine amount of points or goals scored by both team during the game
Totalisator A device that calculates shows the number and amount of bets staked on a sport
Tote Short for totalisator
Tout Someone who sells their expertise on sports betting
Trebles A triple bet on three events
Triple Sharp A term for the ultimate professional in sports gambling
Trixie A multi bet consisting of 4 bets involving 3 selections. These include 3 doubles and 1 treble
True Odds The real odds of an event occurring as opposed to what the bookies offer

 

              U

Under Under is a wager in which bettor guesses and bets that the total points or goals scored by 2 teams will be under a certain figure
Underdog The team that is less favoured and generally receives a point start in a handicap
Underlay When the odds on a special bet are in favour of the house

 

              V

Value Getting the best odds on a wager, the highest possible edge. If you believe the odds taken are better than the mathematical chance which the team involved has to pulling off the outcome.
Vig/Vigorish An amount of commission kept by the house. Also known as juice

 

             W

Wager The amount placed as a bet
Win When the outcome you placed a bet on comes true and you receive return/the term used to describe a 1st place finish
Win Only Betting on a competitor or team to win the event. Also known as Straight bet or Money Line
Winning margin Additional points or goals by which a player or team wins against the other
Wise Guy (US) A knowledgeable or well-informed bettor

 

             X

X Taken to mean ‘a draw’ on a 2 team competition.

 

             Y

Yankee A multi bet consisting of 11 bets involving 4 selections. These include 6 doubles, 4 trebles and 1 fourfold
Yap A Yankee Patent with singles on each of the 4 selections as well, making 15 bets. Also known as Lucky 15.

<< Go back to Beginner’s Guide page