Betting Glossary   

ODDS EXPLANATION

The point spread - also called "the line" or "the spread" - is used as a margin to handicap the favorite team. For betting purposes, the oddsmaker predicts that the favored team will win by a certain number of points. This number of points is the point spread. The favorite is always indicated by a minus sign (e.g. -5.5) and the underdog by a plus sign (e.g.+5.5). If you bet on the favorite, you win your bet if the favorite wins AND their margin of victory is greater than the point spread. If you bet on the underdog, you win if the underdog wins, ties, or if the favored team wins but fails to exceed the point spread. It is standard for point spread bets in most sports that you wager $110 to win $100.

The point spread given in the table above is for the home team only.

A money line, used in baseball and hockey, takes the place of a point spread. Money line betting is simply wagering on the contest based on a given price rather than a point spread. The team wagered on has to win the game outright, regardless of the score. The minus sign (e.g.-130) always indicates the favorite and the amount you must bet to win $100. The plus sign (e.g.+120) always indicates the underdog and the amount you win for every $100 bet. Using this example, therefore, you would bet $130 to win $100 on the favorite, while for the underdog you would bet $100 to win $120.

The over/under is the number of points oddsmakers expect will be the total score for the contest (both teams combined, overtime included). You bet on whether the total points scored will be more or less than this number. As with point spread bets, you must generally wager $110 to win $100.

Betting on a point spread or money line is sometimes called betting "sides" - that is, betting that one side or the other will be the winner - while betting the over/under is referred to as betting "totals".

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                                           GAMBLING & SPORTS BETTING DEFINITIONS


Accumulator – Also known as a Parlay or multiple. A multiple bet where two or more bets are chosen and all these selections must win for the accumulator to payout.

Action – A bet/wager of any kind.

Added Game – A game that is not part of Las Vegas regular posted as an accommodation to customers.

Advantage – Also known as the edge, juice or vigorish. A bookmaker’s commission.

AFC – American football Conference. The winners of this division will play the winners of the NFC in the Super bowl to decide which team is the NFL champion.

All-up – Also known as an Accumulator or Parlay.

Angles – Using key factors from previous events to predict the results for future outcomes.

Ante Post – Also known as Futures. This is a bet that is placed in advance predicting the outcome of a future event.

Arbitrage – Where a variation in odds available allows a bettor to back both sides and guarantee a win.

ATS – ‘Against the Spread’ – taking points rather than betting with the spread and laying points.  

Backed – A bet selection (i.e. team, player) that is proving very popular and has had strong betting support.

Bad beat - losing under unusual or exceptional circumstances.

Banker – Highly expected to win - the favorite of favorites.

Bank roll – indicates how much credit there is in a bettor’s sportsbook account.

Bar Price – The odds of selections at their last quoted price.

Beard – a friend or acquaintance that places bets in order to hide the true identity of the true bettor. A betting red herring so-to-speak.

Beef – slang term for a dispute.

Beeswax – Also known as Bees or Ajax. The UK term for betting tax.

Bet – A wager of any kind.

Betting line – a priced wager of any kind. Essentially, a betting opportunity.

Betting Tax – A Tax on a Bookmakers turnover. Also known in the UK as Duty.

Bettor – someone that makes a bet.

Book – An establishment that accepts bets on Sports or/and horseracing.

Bookmaker – The person that creates odds for people to bet on. A bookmaker is licensed to accept bets/wagers.

Bookie – Slang for a bookmaker.

Bonus (es) – Comp points and rewards granted by bookmakers/sportsbooks for bettors/members.

BR – Abbreviation for a bankroll.

Bridge Jumper - A bettor that specializes in large show bets on odds-on favorites.

Buck – A bet of $100.

Burlington Bertie –

Buying Points – Also known as moving the line. A bettor pays to receive half a point or more in his favor on a spread game.

Buy Price – In Spread or Index betting, the higher figure quoted by an Index Bookmaker.

Buy the Rack – A bettor buys all available doubles or other combination ticket.

Canadian Line – A combination point spread and money line in ice hockey.

Chalk – A favorite.

Chalk Player – A bettor that wagers on favorites and rarely bets on underdogs.

Churn – the effect of betting and re-betting money.

Circled Game – A game where the bookmaker limits the maximum bet.

Closing Line – The final list of point spreads offered before the game.

Combination bet – Selecting any number of teams/horses to finish first and second in either order.

Colt – A male horse that is 4 years old or younger.

Cover – To bet the spread by the required number of points.

Daily double – A horseracing bet in which a player picks the winning horses of two chosen races.

Dead Heat – A term in horseracing for a race where two horses finish equal. Both horses are declared winners.

Deposit Betting – Betting with money deposited in advance with a bookmaker.

Dime bet – a $1000 wager.

Dime Line – a betting line where the juice is 10%.

Dividend – The payout or return on any bet.

Dog – The underdog or outsider.

Dog Player – A bettor that chooses to wager on the Dog or outsider.

Dollar bet - a $100 wager.

Double – A bet on two separate events or two parts of the same event.

Double header – Two separate games played by the same teams on the same day.

Draw – When two teams/competitors finish the game evenly and honors are shared.

Drift – odds that have lengthened

Earn – Practical hold percentage.

East Coast Line - Mainly used in ice hockey, which has a split-goal line e.g. - NY Rangers (1 - 1 ½) favorite over the Vancouver Canucks as opposed to goal spread plus moneyline (-1/2 -180).

Edge – A bookmaker’s commission. Also known as Advantage, vigorish and juice.

Even money – A 1.1 odds bet.

Event – Another term for a race, tournament, match or any betting contest.

Exacta – A selection of two horses to come 1st and in 2nd in a race in exact order.

Exotic Wager – Any other action bet aside from a straight bet or parlay.

Exposure – the amount of money the bookmaker actually stands to lose on a game.

Extension – the amount of money the bookmaker potentially will lose on a game.

Favorite – the expected winner of a game/race; the entrant with the lowest odds.

Favored – a team/contestant that is popular with the bettor.

Field – all the competitors in an event.

Figure – the amount owed to or by a bookmaker.

Filly – A female horse that is 4 years old or under.

Final four – The remaining four college teams from an original field of 64.

Firing – the act of betting large amounts.

First Half bet – a bet solely for the outcome of the first half of a game.

Fixed game – A game in which at least one of the competitors/teams willfully manipulates the outcome of the game.

Fixed odds – If the odds are fixed when you make your bet, the odds remain the same until the settlement of the bet.

Flag – 23 bets; a Yankee plus 6 single stakes about bets in pairs on 4 selections in different events.

Flash – change of odds information on tote board.

Flea – a low-wagering bettor that continually requests bonuses.

Forecast – Also known as a Perfecta or Exacta. It means wagering on what selection finishes 1st and 2nd for a particular event. Forecasts can be straight, reversed or permed.

Form – the previous placing/results of a team/competitor. For example, the previous six-match form of English soccer side Manchester United could be win, win, draw, lose, lose, lose.

Full cover – All the doubles, trebles and accumulators involved in a given number of selections.

Furlong – This term is often used in horse racing and is a unit of distance equal to 1/8 of a mile or 220 yards.

Future – Also known as Ante post. A bet on the outcome of a major event like the Super bowl or a soccer league such as the English Premier League.

Gambler - Also known as a bettor or player. Someone that makes a bet.  

Getting Down – Placing a bet or making a wager.

Goliath – A multiple bet consisting of 247 bets involving 8 selections in different events (28 doubles, 56 trebles, 70x4 folds, 56x5-folds, 8x7-folds and one 8-foldfold).

Grand Salami – The total number of goals scored in all the day’s ice hockey matches. You can wager on whether the number will be under or over the amount priced by the bookmaker.

Gross win – a win before expenses.

Half a dollar - $50.

Half time bet – a bet placed only on the second half of a game.

Handicap – also known as the Spread. A Handicap is a bet where the favored side has points deducted and the underdog points added to even up the bet.

Handicapper – Someone that studies and wagers on sporting events.

Handicapping – the attempt to predict the outcome of a game.

Handle – Total amount of bets taken.

Hedging – Placing bets on the opposite side in order to cut losses or guarantee a minimum amount of winnings.

Heinz – A multiple bet consisting of 57 bets involving 6 selections in different events (15 doubles, 20 trebles, 15x4 folds).

Hold – The percentage the house/sportsbook wins.

Home Team - the team that is playing in their own town/stadium.

Hook – Half a point added to football and basketball betting lines.

Hoops – Slang for a basketball game.  

Hot game – A game that has had many wagers on one side by handicappers.

House – The slang term for the bookmaker, sportsbook or betting establishment that offers betting lines.

Index Betting – another term for spread betting.

In the money – A term used in horse racing for a horse that finished first, second or third.

Joint favorite(s) – the term for two teams/contestants that have equal lowest pricing.

Jolly – bookmaker’s slang for ‘favorite ’.

Juice – Also known as the Edge and vigorish, a bookmaker’s commission.

Knockout competition – this type of contest is present in most sports and features a set number of teams that eliminate each other round by round until there is only one team left. The remaining team is usually wins a trophy for its efforts.

Lay a bet – An acceptance of a bet by a bettor to the bookmaker.

Lay a price – betting the favorite by laying money odds.

Laying the points – Betting the favorite by giving up points.

Layoff bet - A wager made by one bookmaker with another to help balance his action and reduces his risk on one side or one horse.

Lengthen – the movement by the linemaker of odds so that they are made longer.

Limit – the maximum amount a bookmaker will permit a bettor to wager on certain odds. 

Line – Also known as betting line. The betting proposition on a game and/or payoff odds on the bet.

Linesmaker – The person that sets the original and subsequent betting lines.

Listed Pitchers – A baseball bet on the pitchers that will participate in the game.

Lock – also known as banker. A certain winner.

Long odds – Odds that are greater than 1,000.

Long shot – a team/competitor that is a far outsider and large underdog.

Lucky 15 – 15 bets involving 4 selections in different events (I.e. 4 singles, 6 doubles, 4 trebles and 1 fourfold).

Lucky 31 – 31 bets consisting of 5 selections in different events (I.e. 5 singles, 10 doubles, 10 trebles, 5 fourfold plus 1 five-fold).

Lucky 63 – 63 bets consisting of 6 selections in different events (I.e. 6 singles, 15 doubles, 20 trebles, 15 four-fold, 6 five-folds, and 1 six-fold).

Mare – A female horse that is 5 years old or more.

Margin – The amount a competitor in an event finishes in front of another competitor.

Masters, The – One of golf’s Four Majors. This tournament and is played at the Augusta National Golf Club in Augusta, Georgia.

Middle – To win on both sides of the same contest; by backing the underdog at one point spread and then the favorite at a different point and winning both sides.

Money line – Odds that represent what amount has to be wagered or what can be won. For example, if there is a minus sign (-) next to an amount, you have to wager that amount to win $100. If there is a plus sign (+) next to an amount, you will receive that amount for every $100 wagered.

Move the line – Also known as buying points. A bettor pays to receive half a point more in his favor on a spread point game.

Multiples – Also known as Accumulator. A multiple bet where two or more bets are chosen and all these selections must win for a payout.

MVP – An abbreviation for Most Valuable Player.

NAP – A best bet of the day tip by a newspaper.

NCAA – Abbreviation for National Collegiate Athletic Association.

Neutral Site – An arena, stadium or pitch where neither side has home advantage.

Nickel - $500.

Nickel Line – A betting line where the juice or bookmakers edge is 5%.

No Action – A bet where no money is lost or won.

Normal Time (soccer) – the two standard 45-minute periods of play in a soccer game. Unless otherwise specified, wagers on the outcome of a match will be decided based on Normal Time and any time the referee adds on to compensate for injuries and other stoppages. Unless otherwise specified, it does not include periods of extra time, golden goals or penalty shootouts.

Odds – the bookmaker's evaluation of the chance of a team or competitor winning. It is adjusted to include a profit, otherwise known as the bookmaker’s edge.

Odds against – When the odds are greater than evens (e.g. 5/2).

Odds compiler – Also known as a bookmaker. Someone that decides the price and odds of a team/competitor.

Odds on – This has a minus sign and is worked out in reverse. It is the amount a bettor has to wager to win $100.

Oddsmaker – also known as a bookmaker. Someone that decides the price and odds of a team/competitor.

Off the board – This is the term for a game that a bookmaker refuses to accept any bets.

One - $100.

Out – a term for an illegal bookmaker.

Outsiders – Also known as a dog or underdog. A long-odds team/competitor that is not one of the favorites and is not expected to win.

Overlay – When the odds on a proposition are in favor of the bettor rather than the house.

Over – A wager on whether the combined amount of points/goals by both teams in one match will be over the priced amount.

Overtime  – a set period of additional playing time – usually two 15 minute halves – played at the conclusion of Normal Time where a game is tied, but the competition format requires a positive result. If there is no result after Extra Time, penalties usually apply in soccer. For betting purposes the result is usually graded (settled) on the result after Normal Time except where stated in the bet rules e.g. NBA games and NHL Overtime included bets. Not to be confused with Time Added On aka Added Time aka Injury Time aka Stoppage Time, which is an extension of Normal Time (90 minutes in soccer) to compensate for disruptions in game play.

Place – to wager on the team/competitor/horse to finish in the top two, three, four or five in an event/tournament.

Player – Also known as a bettor or gambler. Someone that makes bets.

Point Spread – Also known as the handicap. Referring to the points given to the underdog to level the odds with the favorite.

Postponed – When an event is cancelled and rescheduled for a later date.

Press – the betting of an unusually large amount.

Price – Also known as the odds. A price is decided by the bookmaker to reflect the chances of that particular team/contestant winning or placing in an event field.  

Prop – Also known as a Special bet. A prop is short for proposition bet, which are odds set by the bookmaker on unique and various topics. This can include politics, pop music, etc.

Proposition bet – also known as a Prop or Special bet. This type of bet is odds set by the bookmaker on unique and various topics. This can include politics, pop music, etc.

Pucks – A slang word for the game of ice hockey.

Puckline – Giving odds of a goal spread instead of using a Canadian line, which uses both a goal spread and money line.

Punter – slang term for a bettor.

Puppy – Also known as a dog or underdog. The outsider in a bet – the unfavored team/competitor.

Push – Also known as a draw or tie. A push is when there is no winner or loser in a bet.

Rained out – A game that is cancelled because of bad weather.

Return – Your total winnings on a bet.

Reverse – this bet applies for horseracing when a bettor asks for a second exacta wager but this time having the two horses in reverse place order to that of the first exacta.

Round Robin - A series of parlays. A three-team round robin consists of one three-team parlay and three two-team parlays.

Run down – All the betting information and lines for a specific, date, time, etc.

Run line – Refers to baseball when a spread is used instead of a money line.

Runner – Also known as a beard. This is a person that places bets on behalf of someone else in an effort to disguise the identity of the true bettor. A betting masquerader in other words.

Scalper - Someone who attempts to profit from the differences in odds from different books by betting both sides of the same game at different prices.

Score – To win a lot of money.

Scouts – Refers to a bettor that waits for what he considers to be an unusually strong wager. Basically, he is keeping an eye on the market movement and betting activity before choosing his bet.

Scratch – Refers to horseracing when a horse is withdrawn from the race before it has started. All wagers on this horse are then refunded.

Sharp – Another term for a wise guy - a professional gambler.

Shorten – when a bookmaker reduces the odds. The opposite to lengthen.

Shortstop – someone that bets small amounts and doesn’t bet often.

Show – This is a bet in horseracing that you collect if a horse comes first second or third.

Shut Out - What happens to a bettor who gets on the betting line too late and is still waiting in line when the window closes. Also, in sports betting, when the losing team does not score.

Side - To win one side and tie the other. For example, if you lay -2 1/2 and take 3 on the same game and the favorite wins by 3 you have SIDED the book. The book has been SIDED.

Single – Also known as a straight bet. Refers to a singular bet on one team, competitor or horse.

Single Stakes About (or SSA) - A bet consisting of 2 bets on two selections (1 single on each selection any to come 1 single on the other selection reversed).

Special bet – Also known as a proposition bet. This type of bet is odds set by the bookmaker on unique and various topics. This can include politics, pop music, etc.

Sportsbook - The person, shop or website who accepts bets.

Spread – Also known as a point spread. Referring to the points given to the underdog to level the odds with the favorite.

Spread betting - Also known as action line or moneyline. The amount that must be wagered to win $100, or the amount won for a $100 wager. A bet is won or lost according to whether you correctly predict the result of an event. Returns or losses are calculated in proportion to how right or wrong the bettor is, and can lead to huge returns or losses.

Square – The opposite to a sharp - someone that bets casually and is not a professional or full-time gambler.

Stake – another term for a wager.

Steam – refers to heavy movement on a betting line, which is usually caused by many people betting on it.

Store – Also known as a book, bookmaker or other betting establishment. Essentially, somewhere you can place a bet.

Straight bet – This is the name of a bet on just one team, competitor or horse.

Sucker bet – refers to a betting line that has a large house edge.

Super Heinz - 120 bets involving 7 selections in different events, i.e. 21 doubles, 35 trebles, 35 four-folds, 21 five-folds, 7 six-folds and 1 seven-fold.

Super Yankee – Is a multiple bet more commonly known as a Canadian. A Super Yankee is a Yankee type bet with five selections instead of four.

System - A method of betting, usually mathematically based, used by a bettor to try to get an advantage.

Taking the points – betting on the underdog and its advantage in a points spread.

Taking the price – Betting on the underdog and accepting money odds.

Tapped – to be broke or busted and have no cash/credit left in the account.

Teaser - A bet on two or more teams where the bettor can add or subtract points from the spread to make their bets stronger in return for reduced odds. All results must match the selections to win the teaser.

Thick ‘un – A large bet.

Ticket – another term for wager.

Tie – Also known as push or draw. This is a bet where no money is lost or won because the teams/competitors score and finishing place were equal to the number of points in the given line.

Tips - The selections and predictions of competitor’s performance for an event from an expert or observer.

Tipster – someone that offers tips on events.

Total – A sports bet for the combined amount of goals, points or runs scored by all teams in a game or event. The bettor will wager on whether the total amount will be over or under a priced amount.

Tout Service – A business that sells opinions and tips on sports events.

Tote - Short for Totalisator. A system introduced to Britain in 1929 to offer pool betting on racecourses.

Trifecta – A horseracing bet where someone can wager on three horses to finish in the top three in one exact order.

Triple sharp – a phrase for the ‘ultimate’ betting professionals; the sharpest of the sharp.

Trebles - A triple bet on three events. A form of parlay or accumulator.

Trixie - A Trixie consists of 4 bets involving 3 selections in different events, i.e. 3 doubles plus 1 treble.

True Odds - The real odds of something happening as opposed to what bookmakers offer.

Two Ball Betting - A golf bet that involves predicting which player from a group of two will shoot the lowest score over 18 holes.

Three ball betting – A golf bet that involves predicting which player from a group of three will shoot the lowest score over 18 holes.

Under – This refers to a Total bet, where the bettor wagers on whether the total amount of goals/points will be under a certain priced figure.

Underdog – Also known as dog and outsider. This is the contestant/team that is the least likely to win and has a large price.

UnderdogSportsPicks – The Global Leader In Sports Handicapping.

Underlay - When the odds on a proposition are in favor of the house.

Union Jack - A bet consisting of 8 trebles on 9 selections A to I: ABC, DEF, GHI, ADG, BEH, CFI, AEI, and CEG.

Value – Getting the best odds on a betting proposition – those with the lowest bookmaker’s edge.

Vigorish – Also known as juice, edge. This represents the bookmaker’s commission.

VS – against, i.e. Red Sox VS Yankees.

Wart(s) - A Crooked SportsBook that continually Cheats bettors out of their money. "Thieves!"
The Worst of the Worst & The Scum of the Earth.

Welsh/Welch - To fail to pay a gambling bet.

Win Only – A bet on a competitor/team to win an event. This is also known as a straight bet or 'Money Line' betting.

Wise guy – a well-informed handicapper or bettor.

Yankee – A bet that consists of four selections, combining them into six doubles, four trebles and one fourfold - i.e. eleven bets.