Sports Betting Terms

What is Sports Betting?

Sports betting is the art of predicting the results of a sporting activity, then placing a wager or a bet on the out come.

Sports betting is a form of gambling whose legality and general acceptance varies from nation to nation. In the United States, the Professional and Amateur Sports Protection Act of 1992 makes it illegal to operate a “betting, gambling or wagering scheme”, except for in the states of Delaware, Nevada, Montana and Oregon.

In many European nations bookmaking (the profession of accepting sports wagers) is highly regulated but not criminalized. Proponents of legalized sports betting generally regard it as a hobby for sports fans that increases their interest in particular sporting events, thus benefiting the leagues, teams and players they bet on through higher attendances and television audiences.

Opponents fear that, over and above the general ramifications of gambling, it threatens the integrity of amateur and professional sport, the history of which includes numerous attempts by sports gamblers to fix matches, although proponents counter that legitimate bookmakers will invariably fight corruption just as fiercely as governing bodies and law enforcement do.

Most sports bettors are overall losers as the bookmakers odds are fairly efficient. However, there are professional sports bettors that make a good income betting sports, many of which utilize sports information services. Sports betting is illegal throughout most of the United States, common throughout much of Europe, and an everyday part of the gambling industry in Nevada.

It’s difficult to figure out how much money is bet on sports in the United States since the majority of it is done illegally, but experts estimate more than $200 billion annually.

Now placing a bet can be a confusing for the new bettor as sports books have their own lingo, and their systems vary. Figuring out how to bet well enough to make some money is another matter entirely. How are the odds determined? What percentage of the time do you need to win to break even? What to bet on?

Sports Betting Basics
Have you ever wanted to place a bet on a sporting event, but been overwhelmed by all the talk of odds, point spreads, bookies, and sportsbooks?

At first glance the world of sports betting can seem to be a complex one; it’s not nearly as daunting as it may first appear.

Sports gambling has been around since the beginning of time, with people through the ages been known to have wagered on fighting, horse racing, and even cockfighting.

In the 1800s, horse racing was the sport of choice among gamblers, with boxing also popular, but as the popularity of baseball in the US of A increased in the later part of the century, so did baseball betting, and the popularity of wagering on the sport was brought to the forefront during the 1919 World Series, which will live on in infamy as the Black Sox Scandal.

College sports, such as football and basketball, began to catch the public eye in the early stages of the 20th century, and over time, those two sports soon rivaled baseball as popular betting activities. For a number of years, football and basketball bets were placed using odds, a practice that still takes place today and is known as betting with the money line .

The Advent of the Point Spread
The only problem with the money line is that a number of the college football and basketball games were mismatches and all of the gamblers would be betting on the same team, which is not what the bookmakers want.

In the 1940s, the bookmakers changed the face of sports gambling forever when they came out with the point spread.

The point spread is a handicap placed on the expected winner of a football or basketball game in points. If Team A are expected to beat Team B by a large margin then the point spread on the game could be as high as 20 points. Basically, that means 20 points are subtracted from Team A’s score or added to Team B’s score for betting purposes. If a gambler places a bet on Team A, they must win by 21 or more points for the gambler to win their bet. Those placing bets on Team B will win if Team B win the game or lose by 19 points of less.

The primary purpose of the point spread was to help the bookmakers balance their books. Instead of the vast majority of gamblers all betting on the same team, there were more bets placed on both teams.

Because the bookmakers make the bettor risk $11 to win $10, balanced action will guarantee the bookmaker a profit regardless of which team wins the game.

The television explosion of the 1950s was another boost for bookies, as sports and television was a perfect match. People soon found out that a wager on a game would add to the excitement of watching the game and sports gambling has been growing at a steady rate every year.

The Start of Totals
Bookmakers aren’t dumb and they quickly realized the more betting opportunities they had for the public, the more wagers the public would make. That thinking led to the creation of totals.

Totals, or over/unders, is a betting proposition where gamblers wager on the combined final score, without any regard to the winner of the game.
Betting against the point spread, with the money line, or on totals are the three most popular forms of sports betting that take place today.

In recent years, bookmakers have continued to come out with additional betting opportunities, such as parlays and teasers.

You’re now well on your way to joining the exciting world of sports betting.

Sports Betting Terms and Definitions You Should Know

Action -  A wager of any kind. A Bet
Added Game – For sports betting, a game not part of Las Vegas regular rotation posted as an accommodation to customers.
Angles – Using key factors from previous events to predict the results for future outcomes.
ATS – “Against the spread,” taking points rather than betting with the spread and laying points in sports betting.
Bankroll – Your available gambling money.
Beard – In sports betting a beard is a friend or acquaintance who is used to place bets as to conceal the true identity of the real bettor.
Bet – To risk something on the outcome of an event
Book -  An establishment that accepts wagers on the outcome of horse racing and sporting events.
Bookie – In sports wagering a person who accepts bets.
Bookmaker – see ‘bookie’
Buck – Sports betting term for a $100 wager.
Buy Points – Buy Points means that you can move the point spread so that you give away less points with the favorite or get more points with the underdog, for both football and basketball. To do this you must pay an extra 10% for each ½ point you buy in your favor. For the NFL and NCAA football, you will pay an additional 15% to buy on or off of 3 points – also know as Key Points. And if you buy through 3 points, you will pay an additional 20%. NOTE: There are no Key Points for basketball. You pay a flat 10% for each 1/2 point you buy. An example of how to buy off of 3 points: the Baltimore Ravens (-3) are 3 point favorites. To buy 1/2 point and make them a 2.5 point favorite, you would need to lay 125 to win 100.
Canadian Line – In sports betting the Canadian line is a combination point spread and money line in hockey.
Chalk – The favorite.
Chalk Player – In sports gambling this person is someone who usually only plays the favored teams, rarely betting on the underdogs.
Circled game – In sports wagering this is a game in which the betting action is reduced; usually occurs in added games, games with injuries, bad weather, propositions, or halves of games. These games cannot be included in parlays or teasers
Cover – To bet the spread by the required number of points. If such occurs you have “covered the spread.” As in a pointspread win.
Data Mining – Searching through a large volume of statistics to find profitable situations to bet on in the future.
Dime – $1000.00 sports betting wager.
Dime Line – In sports betting a Dime line is a line where the juice is 10%.
Dog The underdog in any betting proposition. The team perceived to be most likely to lose.
Dog Player – In sports gambling this term refers to one who mostly plays the underdog.
Dollar – $100, in sports wagering.
Double action – An “if bet” in sports betting that is processed if the precedent bet wins, ties or cancels.
Double Bet – In sports betting a double bet is a wager for twice the size of one’s usual wager; also known as “double pop” or “doubling up.”
East Coast Line Mainly used in hockey, which has a split-goal line e.g. – Philadelphia Flyers (1 – 1 ½) favorite over the LA Kings as opposed to goal spread plus moneyline (-1/2 -180).
Edge – A persons Advantage when it comes to sports betting.
Even Money – Sports betting term “Even money” is a bet whose odds are 1/1; a wager in which no vigorish or juice is laid.
Exotic Wager Any bet other than a straight bet, i.e., parlays, teasers, if bets, reverses, round robin, round robin box reverses, etc.
Exposure – The maximum amount of money a sports book stands to lose on a game.
Favorite – In sports betting this it the team expected to win an event. The quoted odds reflect the extent to which the choice is favored.
Fifty cents – $50.00 of sports betting action.
Figure – For sports betting, Figure is the amount owed to or by a bookmaker.
First half bet – In sports betting this is a bet placed only on the first half of the game.
Future – In sports gambling odds are posted in advance on the winners of various major events including the Super Bowl, the World Series, the Stanley Cup, and the NBA Championship this is called a Future bet.
Futures Odds posted on the winners of various major sport championships in advance of the event, including the Super Bowl, the World Series, the Stanley Cup and the NBA championship.
Gamble- To risk money on the outcome of an event.
Getting Down – Sports wagering meaning making a bet.
Grand Salami - A sports betting term meaning the grand total of goals scored in all the hockey games of the day. It can be wagered to go Over/Under.
Half a dollar – $50.00 in sports betting action.
Half time bet – In sports betting this is a bet placed only on the second half of the game.
Handicapper - When it comes to sports betting a handicapper is one who studies, rates and wagers on sporting events and/or races.
Handicapping - In sports gambling this is the attempt to predict the outcome of sporting events.
Handle – A sports wagering term that means the total amount of bets taken.
Hedging Placing bets on the opposite side in order to cut losses or guarantee winning a minimal amount of money.
Holding Your Own Neither winning or losing, just breaking even.
Hook A half point added to football and basketball betting lines.
Hot game – Sports betting term for a game that is drawing a lot of action on one side by knowledgeable handicappers.
Juice – The bookmaker’s commission on a losing bet, also known as “vigorish.”
Laying the points – Betting the favorite by giving up points.
Laying the price – In sports wagering, laying the price means betting the favorite by laying money odds.
Layoff – sports betting term for money bet by a house with another bookmaker to reduce its liability.
Limit – In sports betting limit is the maximum amount a bookmaker will allow you to bet before he changes the odds and/or the points.
Line The listed or current odds on a game (points or money line).
Linemaker – In the sports betting industry this is the person who establishes the original and subsequent betting lines.
Listed Pitchers – In sports gambling a listed pitcher is a baseball bet which will be placed only if both of the pitchers scheduled to start a game actually start. If they don’t, the bet is cancelled.
Lock Easy winner, can not lose.
Longshot A team or horse that is unlikely to win.
Middles (or Middling) To win both sides of the same betting proposition; betting the favorite team at -1.5 with one bookmaker and then taking +3.5 with another bookmaker; the game ends up with the favorite winning by exactly 3 points, you have then “middled the game.”
Money Line A moneyline is offered when no handicap is given, such as a point spread or run line, and the odds are not therefore fixed. Payouts are then based on true odds rather than fixed odds. The favorite and underdog are given odds to win a game or fight.    The minus sign (e.g.-130) always indicates the favorite and the amount you must bet to win 100. The plus sign (e.g.+110) always indicates the underdog and the amount you win for every 100 bet. Therefore based on the above moneyline, you bet 130 to win 100 on the favorite. For the underdog, you win 110 for every 100 bet.
Move the line - A player pays an additional price to receive half a point or more in his favor on a point spread game.
Newspaper Line The betting line which quite often appears in the daily newspapers. The lines are only approximate and quiet often totally inaccurate and misleading.
Nickel - $500.00, in on a sports gambling wager.
Nickel line - A sports wagering line where the juice is 5%.
No action – A wager in sports betting in which no money is lost nor won.
Odds On Favorite A horse, team, or individual so favored by the public that the odds are less than even.
Odds- The likelihood of the outcome occurring, stated in numbers form.
Off the board – In sports betting this is a game on which the bookmaker will not accept action.
Official Line The line that the bookmaker uses for wagering purposes. The line which comes from Las Vegas is quite often referred to as the official line; however, the line that your bookie offers you is actually your “official line.”
One dollar – $100.00 in sports betting action.
Opening Line- The earliest line posted for a particular sporting event.
Outlaw Line – Term for the earliest line in sports betting. This is an overnight line that only a handful of players are allowed to bet into.
Over – In sports gambling the “over” is a sports bet in which the bettor guesses that the combined point total of two teams will be above a specified total.
Over & Under A wager for the total score by both teams will more or less than the total posted by the sports book.
Overplay An advantage for the bettor in which the price on a given wager is greater than the    real probability of its success.
Parlay The number of teams in the parlay must all hit or the parlay loses. 2-team parlay pay 13-5 odds. 3-team parlay pay 5-1 odds. 4-team parlays pay 8-1 odds.
Parlay Cards Wagers on a minimum of 3 and up to 15 propositions; the more you pick, the higher the payoff.
Pick Occasionally, there will be no favorite on a game. In this instance the game is said to be a pick and you can bet 10/11 (bet 110 to win 100) on either team.
Pick ‘em – When neither team is favored. Also called a “pick” in sports betting terms.
Pointspread The pointspread – also called “the line” – is used as a margin to handicap the favorite team. The oddsmaker – also called the handicapper – “gives” points (or goals) to the underdog – for betting purposes only. The bettor must take either the favorite or the underdog. The favorite is always indicated by a minus sign (e.g. -8.5) and the underdog by a plus sign (e.g.+8.5). For betting purposes, the outcome of the game is determined by taking the actual game score and finding the difference between the scores of the two teams playing (called the pointspread or just the “spread”).    For example – The Detroit Lions are 8 point favorites over the New York Giants (an 8 point spread shown as -8 beside Detroit on our “lines” page). If the final score is Detroit 20 New York 13, then the actual game score “spread” is 7 points (20 minus 13). In our example if you took New York (called the “dog”), you would win the bet since Detroit had to win by 9 points or more to “cover the spread.” Detroit needed 2 more points to “cover” since if the game landed right on the “spread” of 8 points it would be called a “push” (similar in concept to a tie in Moneyline wagering, which is also called a push) and it would be “no action” (no bet and money held in your account to cover the wager is released back into your available balance). If the “spread” is put in at a half point (e.g. -8.5 for the favorite Detroit) by the Sportsbook handicappers then there can be no “push.” In this case, there is “action” at any final game score pointspread. In a pointspread, you must wager 11 to win 10 (21 is returned to the winner). 10/11 is the standard for pointspread bets on most sports.
Post Time The Schedule starting time.
Power Ratings- The strength of a team in comparison to another team.
Press – In sports betting this means to wager a larger amount than usual.
Price – Sports betting term for the odds or point spread.
Prop (Proposition) Bet – In sports gambling this is a special wager offered by the sports book on unique and various topics. These wagers can be on sporting events, politics, and even trial outcomes. The wagers use the money line format of pay off odds and might included who scores the first touchdown in the super bowl, who will win the next presidential election, or whether or not O. J. will be found guilty.
Proposition Bet A wager on a particular aspect of the game such as how many field goals will be made.
Puckline - A puckline for sports wagering is giving odds of a goal spread instead of using a Canadian Line in hockey, where both a goal spread and money line are played.
Puppy – The underdog in an event.
Push If the result of a game lands exactly on the pointspread or is a tie in the case of betting a moneyline, or if the exact score of the game matches exactly the Sportsbook’s posted game total (Total), then the game is a “Push” or “No Action” and all wagers are released back to the Available Account Balance.
Round Robin A form of parlay betting in which we wager various combining team wagers. A 3-team robin is team 1 to 2, 1 to 3, and 2 to 3. 4-team robin is team 1 to 2, 1 to 3, 1 to 4, 2 to 3, 2 to 4, and 3 to 4. 5-team, etc.
Run down – In sports gambling this is all the lines for an specific date, sport, time, etc.
Run line – In baseball a spread used instead of the money line.
Runner – One who places bets for another when it comes to sports betting.
Scouts – person(s) who waits for what he thinks is an unusually strong wager. AKA. Sports Player.
Sharp – When it comes to sports betting a sharp is a sophisticated or professional gambler.
Side When one side of a wager wins and the other side ties.
Sides – In sports betting, the names of the two teams playing: the underdog and the favorite.
Single action – An “if bet” in sports gambling that is processed only if the precedent bet wins.
Sportsbook- a person or company that accepts bets.
Spread – A spread in sports wagering is the predicted scoring differential between two opponents as quoted by a sports book. See “point spread.”
Square - A novice when it comes to sports betting.
Steam When a betting line starts to move quite rapidly. Most “steam games” do not    necessarily reflect the “right side”, but are games that the mass of bettors somehow decide to key on.
Store – A bookie or sports betting establishment.
Straight bet – In sports betting this is a wager on just one team or horse.
Straight-up- Winning the game without any regards to the pointspread.
Systems- Using trends for the past that you are consistent with to predict future outcomes.
Taking Wagering on the underdog; taking the odds.
Taking the points – When it comes to sports gambling this means betting the underdog and its advantage in the point spread.
Taking the price – In sports wagering this means betting the underdog and accepting money odds.
Teaser – A teaser is a special type of parlay in sports betting in which you adjust the point spread or total of each individual play. The price of moving the point spread (teasing) is lower pay off odds winning wagers.
Ticket – A sports betting wager.
Tie – In sports betting a tie is a wager in which no money is lost nor won because the teams’ scores were equal to the number of points in the given line.
Total – The combined amount of runs, points or goals scored by both teams during the game, including the overtime.
Totals Total combined point/runs/goals scored in a game; In baseball, if either of the two listed starting pitchers don’t go the distance, the bet is automatically canceled.
Totals Bet – In sports gambling this is a proposition bet in which the bettor speculates that the total score by both teams in a game will be more or less than the line posted by the sports book.
Tout – Someone who sells their expertise on sports wagering.
Trends- Using the past to predict the future focusing in on only one team.
Under – When it comes to sports betting a under is a wager in which the bettor guesses that the total points scored by two teams will be under a certain figure.      Underdog - The team perceived to be most likely to lose. Also known as the “dog” in sports betting terminology.
Value Getting the best odds on a betting proposition; the highest possible edge.
Vigorish – The bookmaker’s commission on a losing bet; also known as juice in sports betting.
Wager- To risk money on the outcome of an event.
Wise guy – A wise guy is the sports gambling term for a well-informed or knowledgeable handicapper or bettor.