In the world of sports betting, numerous terms and phrases are used that can be confusing for beginners and even for some experienced bettors. This glossary will explain these terms, providing you with a comprehensive understanding of sportsbook vocabulary.
A #
Accumulator: Also known as a parlay or combo, an accumulator is a single bet that links together two or more individual wagers for a high payout. All selections must win for the bet to be successful.
B #
Bankroll: The total amount of money a bettor has set aside specifically for placing bets.
Bookmaker: An organization or a person that accepts and pays off bets on sporting and other events at agreed-upon odds.
Betting Exchange: A marketplace where punters can bet against each other, rather than against a bookmaker.
C #
Closing Line: The final line before the game or event begins.
Cover: When a team wins with the necessary points to beat the spread.
D #
Dog (Underdog): The team or individual that the bookmakers consider less likely to win.
Draw: The outcome of a game or event where neither side has won.
Double Chance: A bet where you pick two out of three possible outcomes of a game.
E #
Edge: The advantage a bettor has against the sportsbook, or vice versa.
Even Money: A bet where you stand to win the same amount as you wagered.
F #
Favorite: The team or individual the bookmakers deem most likely to win.
Futures: Bets that are placed on the outcome of a future event like who will win a season or championship.
H #
Handicap: A system used by bookmakers to make a one-sided event become a more competitive betting proposition.
I #
In-Play Betting: Also known as live betting, it’s placing a bet on an event while it’s ongoing.
J #
Juice: The commission that bookmakers charge for taking bets. Also known as vig or vigorish.
L #
Line: The odds or point spread offered on a game.
M #
Moneyline Bet: A bet where the bettor only needs to pick who will win the game or event, regardless of the score.
O #
Odds: The chances of an event happening as determined by the bookmaker.
Over/Under: A bet on whether the total points or goals scored by both teams will be over or under a certain number.
P #
Parlay: See Accumulator.
Payout: The total amount a bettor receives when they win a bet.
Point Spread: The amount of points by which the favored team is expected to defeat the underdog.
Proposition Bet: A bet on a specific aspect of a game, which could be unrelated to the final score.
R #
Runner: A person who places bets for someone else.
S #
Single: A bet on one selection in a race or event.
Spread: See Point Spread.
Straight Up (SU): When you bet on a team to win outright.
T #
Teaser: A type of bet that allows the bettor to combine bets on two different games.
Total: See Over/Under.
Tout: A person who sells or gives away sports betting picks.
U #
Underdog: See Dog.
V #
Vig (Vigorish): See Juice.
W #
Wager: Another term for a bet.
Winning Margin: A bet on how much one team will beat another by.
Win Bet: A bet that a particular team or individual will win a race or event.
Remember, it’s essential to understand these terms before you begin betting. This will allow you to make more informed decisions and enhance your overall betting experience.
