Before diving into the world of online sports betting, it’s essential to understand the extensive terminology associated with gambling. This glossary covers fundamental betting terms, explains key concepts like betting odds, and explores major sports leagues, events, and commonly used gambling slang. Whether you’re wondering about “multiples” or the meaning of “juice” in betting, this guide will help you navigate the essentials of sports wagering with confidence.
Major Sports Leagues and Events
An overview of the biggest sports leagues, events, and prestigious awards.
Golden Boot Awards
Golden Boot awards are presented across various sports, though they are most commonly associated with soccer. This prestigious award is given to the player who scores the most goals in a given season.
NBA (National Basketball Association)
The NBA is the premier basketball league worldwide and one of the most financially successful sports organizations. It features teams from across the United States and Canada.
MLB (Major League Baseball)
Having been around for over half a century, Major League Baseball continues to captivate millions of fans and viewers annually. The league consists of teams from the United States and Canada, culminating each season in the highly anticipated World Series.
MLS (Major League Soccer)
Founded in 1993, Major League Soccer is the youngest major professional sports league in the U.S. Soccer is the most popular sport globally, and the MLS attracts fans from all over the world with its mix of North and Latin American players, as well as seasoned veterans from European leagues.
NHL (National Hockey League)
The NHL is unlike any other league, attracting top hockey talent from around the world. With teams based in both the U.S. and Canada, the competition is fierce, with every team vying for a chance to reach the season’s ultimate goal—the Stanley Cup.
NFL (National Football League)
The NFL is the most prominent and financially dominant major sports league in the U.S. Featuring teams from across the country, it generates the highest revenue of any league and concludes each season with the grand spectacle of the Super Bowl.
NCAA (National Collegiate Athletic Association)
The NCAA governs collegiate sports, overseeing various leagues and tournaments. Among its most popular divisions are NCAAB (college basketball) and NCAAF (college football), which draw massive audiences.
March Madness
March Madness is one of the most thrilling sporting events in the U.S., exclusively focused on college basketball. Millions of fans and bettors across the country participate each year, trying to predict the tournament’s ultimate champion.
Major Sports Trophies and Awards
A guide to the most prestigious trophies and awards in sports.
Hart Trophy
Awarded annually to the NHL’s Most Valuable Player (MVP), the Hart Memorial Trophy was donated by David Hart, father of NHL Hall of Famer and former Montreal Canadiens head coach Cecil Hart.
Vezina Trophy
The Vezina Trophy is awarded each season to the NHL’s top goaltender. The league’s General Managers (GMs) vote to determine the winner.
Selke Trophy
Known as the NHL’s top defender award, the Selke Trophy is given to the player who demonstrates exceptional defensive skills throughout the season.
Calder Trophy
Presented to the NHL’s top rookie of the year, the Calder Trophy is named after Frank Calder, the league’s first president.
Ted Lindsay Award
The Ted Lindsay Award, another NHL MVP honor, is unique because it is voted on by the players themselves. It is named after former NHL player Ted Lindsay as a tribute to his legacy.
Vince Lombardi Trophy
Named after legendary NFL coach Vince Lombardi, this trophy is awarded to the winning team of the Super Bowl each year.
Stanley Cup
The Stanley Cup is the most coveted prize in the NHL. Awarded to the team that emerges victorious in the playoffs, the Finals feature a best-of-seven series to determine the ultimate champion.
Larry O’Brien NBA Championship Trophy
Similar to how the NHL champions receive the Stanley Cup, the NBA team that triumphs in the postseason is awarded the Larry O’Brien Trophy.
Rose Bowl
The Rose Bowl, located in Pasadena, California, is one of the most iconic college football venues. It hosts the nation’s oldest bowl game annually on January 1st, drawing thousands of spectators.
Sports Gambling Glossary
A comprehensive list of key terms and definitions used in sports betting.
Added Game
An added game is an event included in the schedule due to high demand. These games often replace canceled events but can be added for various other reasons as well.
AET (Added Extra Time)
Commonly referred to as "extra time," AET is a term used in sports betting, particularly in soccer. It refers to the additional time added at the end of a match to compensate for stoppages caused by injuries or other delays during regular play.
Alternative Lines
Also known as "alt-lines," these allow bettors to adjust match odds by raising or lowering the spread, resulting in a corresponding price change. This option provides flexibility beyond the standard betting lines offered by sportsbooks.
American Odds
A format of odds calculation based on a 100-unit system, primarily used in the U.S. A plus sign (+) indicates an underdog, while a negative sign (-) represents the favorite. In other countries, bettors typically use fractional or decimal odds instead.
Ante-Post (Futures Betting)
A high-risk wager placed well in advance of an event. Also called a "futures bet," it is commonly used in sports betting for long-term outcomes such as championship winners.
Arb (Arbitrage Betting)
Short for "arbitrage," this strategy takes advantage of differences in odds across multiple sportsbooks. By betting on all possible outcomes at different bookmakers, bettors can guarantee a profit regardless of the event’s result.
Asian Handicap
A betting market primarily used in soccer, similar to spread betting. It eliminates the possibility of a tie by assigning fractional goal handicaps, making the wager more dynamic and precise.
ATS (Against the Spread)
A common term in sports betting, "Against the Spread" (ATS) refers to wagering on the underdog, factoring in the point spread set by the sportsbook.
Banker
A "banker" bet is considered a safe and reliable wager, often used as the foundation of parlays. It is a key element in combination bets, where bettors pair it with riskier selections.
Best-Price Percentage
A statistical measure that reflects the implied probability of winning. For example, even odds (1:1) correspond to a 50% best-price percentage.
Bet
Money—either real or promotional (such as free bets)—that is placed as a wager on an event.
Betting Exchange
An online platform where bettors can wager against one another instead of betting against a bookmaker. The exchange earns revenue by taking a commission on winning bets.
Betting Strategy
A structured approach to sports betting that involves statistical analysis, probability calculations, and sometimes even personal superstitions. Gamblers use various strategies to maximize their chances of winning.
Bonus
A promotional offer from sportsbooks designed to incentivize players to deposit funds, place bets, or continue playing. Bonuses can come in the form of free bets, deposit matches, or other perks.
Book
A general term for any platform that offers betting markets. A sportsbook specializes in sports betting, while a racebook is dedicated to horse racing.
Bookie (Bookmaker)
A bookmaker, often called a "bookie," is responsible for setting odds and managing wagers at a sportsbook. The term is sometimes used interchangeably with "Linemaker."
Canadian Line
A betting line commonly offered in ice hockey, which combines elements of both moneyline and against-the-spread bets.
Chalk
A term, more commonly used outside the U.S., referring to the favorite in any game or event.
Closing Line
The final odds posted before a betting line closes. Closing lines often differ from opening lines due to betting activity and external factors leading up to the event.
Co-Favorite
A situation in futures or ante-post betting where two or more teams share the same odds, meaning they are equally favored to win.
Commission
The fee that bookmakers charge to ensure profitability, also known as "juice" or "vigorish."
Correct Score
A wager in which bettors attempt to predict the exact final score of a game. This is considered a high-risk bet unless the bettor has strong insights or a reliable tip.
Cover
A shorthand term for “covering the spread,” meaning that the favored team has won by a margin greater than the point spread.
Decimal Odds
A format of odds representation commonly used in the UK and Europe. Smaller decimal odds (e.g., 1.5 vs. 7.0) indicate the favorite, with the number representing the total return per unit wagered.
Dime
A slang term referring to wagers where the bookmaker’s juice is 10% (e.g., -110 odds). It can also refer to bet amounts of $10, $100, or $1,000, depending on the context.
Dog (Underdog)
Short for "underdog," this refers to the less favored competitor in a wager, meaning they are considered less likely to win.
Double Action
A multi-wager bet where the next bet is only considered if the previous one is won, tied, or pushed.
Double Bet
A wager that consists of two bets, where the winnings from the first bet are rolled over into the second. Similar to a parlay, both bets must be successful for the bettor to win.
Double Result
A common wager across various sports, betting on which team will be leading at halftime and which will win at the end of the game. For example, if the Lakers lead at halftime but the Mavericks win the game, that would be a successful "Lakers/Mavericks" double result bet.
Double-Header
Two games played on the same day between the same two teams, most commonly seen in baseball.
Draw (Push)
A tied outcome in sports betting, often referred to as a "push." When a draw occurs, the original stake is refunded to the bettor.
Drift
A term used to describe the gradual increase in odds over time, often due to betting trends or changes in perception of an event’s outcome.
Each-Way Bet
A popular betting option offered by bookmakers that helps spread risk. An each-way bet consists of two wagers: one for a win and another for a place (e.g., finishing third in a race). For example, a bettor may place an each-way bet on one horse to win and another to finish in third.
Edge
A term referring to a slight advantage one bettor, team, or player has over another. It is commonly used in both gambling and general conversation.
Even Money
A bet that returns the same amount as the original wager if it wins. For example, betting $100 on even money odds would result in a $100 profit if successful. Considered a low-value bet.
Exotic Bets
Also known as "prop bets" or "special bets," these wagers are designed for entertainment rather than strictly predicting a game’s outcome. They often involve unique or unusual events within a match.
Expected Goals (xG)
A statistical measure predicting the number of goals likely to be scored in a game or half based on factors such as shot quality, location, and historical data.
Expected Value (EV)
A calculated or estimated figure representing the potential return of a bet over the long term. It is used by bettors to gauge whether a wager offers good value.
Favorite
A widely used gambling term referring to the team or individual most likely to win. The opposite of an underdog.
First-Half Bet
A wager placed on the outcome of the first half of a match, rather than the full game.
First/Last Goalscorer
A common bet predicting which player will score the first or last goal in a match.
Fixed-Odds Betting
A type of betting where the odds remain unchanged from the moment the wager is placed, regardless of line movement leading up to the event.
Fractional Odds
A method of displaying odds commonly used in horse racing and European betting markets. Fractional odds such as 2/1 (read as "two to one") are equivalent to +200 in American odds format.
Futures Betting
A high-risk betting market where wagers are placed on events that will be decided in the distant future. These bets typically offer higher potential payouts but require a longer waiting period before settlement.
Half-Ball Handicap
A type of wager that involves half-point increments, eliminating the possibility of a tie. For example, in Champions League betting, a bettor predicting Bayern Munich to win at -3.5 means the bet is won if they win by 4 or more, while a 3-goal win results in a loss.
Handicap
A betting method used to balance the odds between teams or players by giving one side an advantage or disadvantage. This ensures a more competitive betting market.
Handicapper
A person who sets, analyzes, or predicts handicaps for betting markets. Handicappers use various strategies to assess teams and outcomes.
Handicapping
The process of analyzing teams, players, or odds to determine fair betting lines. It is an integral part of sports betting and is used to level the playing field.
Handle
The total amount of money wagered on a particular event or bet. It can also refer to the maximum amount a bookmaker will accept for a specific wager.
Hedging
A betting strategy where a bettor places a wager on the opposite side of their original bet to reduce potential losses or guarantee a profit.
Home-Field Advantage
The advantage a team gains by playing in its own stadium or familiar venue. Home teams often have better odds due to fan support, familiarity with the playing surface, and reduced travel fatigue.
If Bet
A conditional bet that involves multiple wagers, where the outcome of one bet determines whether the next wager proceeds. These are common in knockout-style tournaments.
In-Play Betting (Live Betting)
A form of wagering where bets are placed while a game or event is ongoing. Popular with mobile apps and online sportsbooks, in-play betting allows bettors to react to live game developments.
Joint Favorite
A situation where two or more teams, players, or competitors have identical odds, meaning they are equally favored to win.
Juice
A bookmaker’s commission on a bet, also known as "vig" or "vigorish." It represents the built-in cost of placing a wager.
Kelly Criterion
A mathematical formula developed by John Kelly, used by bettors to optimize bet sizes based on expected value and probability. It aims to maximize returns while managing risk.
Landing on Three/Seven
The most common score differential in football, particularly in the NFL, due to the value of field goals (3 points) and touchdowns with extra points (7 points).
Limit
The maximum and minimum amount a sportsbook allows a player to wager on a bet. These limits are set by the sportsbook to manage risk and liability.
Line
A handicapped bet designed to balance the odds between both sides, ensuring an even betting market.
Linemaker
Also known as an "oddsmaker," a linemaker is responsible for setting betting odds for a bookmaker.
Live Betting (In-Play Betting)
A wagering option that allows bettors to place bets on an event while it is happening. Also known as "in-play betting," it has become increasingly popular due to mobile betting apps and online sportsbooks.
Lock
A term used to describe a bet that is almost certain to win. Also referred to as a "sure bet" or "certainty."
Longshot
A high-risk, high-reward bet placed on an underdog with a low probability of winning.
Margin
Can refer to either:
- The point spread in a game.
- The bookmaker’s commission or built-in profit on a bet.
Match Bet
A wager placed on a head-to-head competition between two teams or individuals.
Moneyline
One of the most common types of bets, where a bettor simply wagers on which team or individual will win outright, without considering the point spread.
Multiple (Multi-Bet, Parlay, Combo, Accumulator)
A bet that includes multiple selections within one wager. All selections must win for the bet to be successful. Common types of multi-bets include:
- Double – A parlay with two selections.
- Treble – A parlay with three selections.
- Trixie – Four bets on three selections: three doubles and one treble.
- Patent – Seven bets on three selections: three singles, three doubles, and one treble.
- Yankee – Eleven bets on four selections: six doubles, four trebles, and one four-leg parlay.
- Lucky 15 – Fifteen bets on four selections: four singles, six doubles, four trebles, and one four-leg parlay.
- Lucky 31 – Thirty-one bets on five selections: five singles, ten doubles, ten trebles, five four-leg parlays, and one five-leg parlay.
MVP (Most Valuable Player)
An award given to the best-performing player in a given season, game, or tournament across major American sports leagues.
Nap
A term similar to "lock," referring to the best bet of the day or the strongest betting pick.
No Action
A term used when a bet is voided or removed from the betting market, often due to cancellations, rule changes, or unforeseen circumstances.
Odds Format
There are three main types of odds used in betting:
- American Odds (+/- format, commonly used in the U.S.)
- Decimal Odds (popular in Europe and Australia)
- Fractional Odds (often used in horse racing and UK markets)
Odds-On Favorite
The team or competitor with the highest probability of winning, reflected by low odds.
Oddsmaker
Similar to a linemaker, an oddsmaker is responsible for setting betting odds. Many of the best oddsmakers work in Las Vegas.
Off the Board (OTB)
A term used when a bet is temporarily unavailable. This can happen due to unexpected events such as player injuries or weather changes that significantly impact the game.
Outright Betting
A type of futures bet predicting the overall winner of a league, tournament, or competition.
Over Bet
A wager that predicts the total points, goals, or runs in a game will exceed the number set by the oddsmakers.
Overbroke
A scenario where betting markets favor bettors instead of bookmakers, creating opportunities for value bets.
Overround
The opposite of overbroke, where the market is structured in favor of the bookmaker, ensuring a built-in profit margin.
Over/Under (Totals Betting)
A bet where the bookmaker sets a predetermined total (e.g., points, goals, runs) for a game, and bettors wager on whether the actual total will be over or under that number.
Parlay (Multi-Bet, Accumulator, Combo Bet)
A single wager that combines multiple bets. All selections must win for the bet to be successful, offering higher payouts but increased risk.
Payout
The total amount a bettor receives from a winning wager, including both the original stake and profits.
Pick 'Em
A betting market where both teams have equal odds, meaning there is no clear favorite.
Point Spread
A margin set by oddsmakers to level the playing field between teams. The favorite must win by more than the spread, while the underdog must lose by less or win outright.
Post Time
The scheduled start time of a horse or greyhound race.
Power Rankings
A ranking system used in major American sports leagues based on various performance statistics, recent form, and overall team strength.
Price
The odds assigned to a bet, determining the potential return for a wager.
Prop Bet (Proposition Bet)
A bet that is not directly related to the final outcome of a game. Prop bets focus on specific events within a game, such as player performance, number of fouls, or first team to score.
Puck Line
A point spread in hockey betting. The standard puck line is typically +1.5 goals for the underdog and -1.5 goals for the favorite.
Push
A bet that results in a tie, meaning the original stake is refunded to the bettor with no profit or loss.
Quarter Bet
A wager placed on the outcome of a specific quarter in sports that are divided into quarters, such as basketball and American football. Similar to first-half or second-half bets, but applied to individual quarters.
Reload
The act of adding additional funds to a sportsbook account.
Rotation Number
A number assigned by the sportsbook to a specific bet or team, often seen in Las Vegas sportsbooks. Used to identify wagers quickly.
Round Robin
A type of parlay bet involving three or more selections that covers all possible combinations of those picks.
Run Line
A point spread in baseball betting. The standard run line is -1.5 for the favorite and +1.5 for the underdog, meaning the favorite must win by two or more runs to cover the bet.
Scalping
A betting strategy where bettors place wagers at multiple sportsbooks to take advantage of differences in odds and promotional offers.
Sell
Refers to a bet that has been overvalued or has unfavorable odds. Often considered a wager to avoid.
Sharp
A highly experienced bettor with deep knowledge of sports betting. Sharps are often professional or highly skilled gamblers who use data and strategy to gain an edge over bookmakers.
SP (Starting Price)
The official opening odds for horse and greyhound races, determined at the start of an event.
Special Bet (Prop Bet)
Also known as a proposition bet, a special bet refers to wagers outside of standard moneyline, spread, or total bets. These may include player-specific stats, game events, or entertainment-based outcomes.
Split-Ball Handicap
A wager that includes two different handicaps within a single bet, allowing for varied outcomes.
Sportsbook (General Term)
A bookmaker that offers sports betting markets, as opposed to a casino or racebook. A sportsbook posts odds, accepts bets, and facilitates payouts.
Sportsbook (Casino or Offline Venue)
A physical betting location where odds are posted, bets are placed, and games are screened. Found in casinos and other brick-and-mortar betting establishments.
Spread Betting
A type of bet where the sportsbook sets a point spread, and bettors wager on whether a team will cover the spread by winning or staying within the set margin.
Stake
The amount of money a bettor places on a wager, also known as the risk amount.
Staking Method
A betting strategy that helps bettors manage their bankroll efficiently, ensuring they do not overspend in a single session.
Straight Bet
A simple, single wager on one outcome, as opposed to multi-leg bets such as parlays or accumulators.
Teaser
A type of parlay bet where the bettor adjusts the point spread or totals line in their favor in exchange for reduced odds.
Ticket
A record of a bettor’s placed wagers. When bets are selected and confirmed, a ticket appears in the bettor’s account listing all active bets.
Tie (Draw, Push)
A result where both teams finish with an equal score. In betting, a tie may result in a "push," meaning the original stake is refunded.
Tip
Betting advice or insight provided by experienced bettors, often shared through tipping sites or expert analysis.
Tipster
A person or service that provides betting predictions and recommendations to gamblers.
Totals Bet
A wager based on the combined score of one or both teams in a game, typically referred to as an Over/Under bet.
Tout
A professional bettor who sells betting tips and predictions, usually for a fee.
Under
A wager predicting that the total score or statistical outcome of a game will be lower than the value set by oddsmakers. The opposite of an Over bet.
Underdog
The team or competitor deemed less likely to win, reflected by higher odds. The opposite of the favorite.
Vigorish (Vig, Juice)
The commission or fee charged by sportsbooks on bets, ensuring a profit margin for the bookmaker.
Wager
Another term for a bet. A wager refers to the money risked on the outcome of a game or event.
