US Casino and Sports Betting Glossary

AB | C | D | E | F | G | H I J | K | L M | N | OP Q | RS | TUVWXYZ

A

Accumulator (see also Multiple, Parlay)

When a series of bets are placed together and all need to be correct to collect money.

Ex: Betting on 3 football games in a week. All the teams you picked need to beat the spread in order to collect on the wager you made. 

Added game

Typical in sports betting when a bettor requests a game to be added and a linemaker adds the game to be bet on. 

AET

This is an abbreviation is a soccer one. It stands for After Extra Time which means which is the soccer equivalent of overtime. When betting soccer some sportsbooks will not include the result after the after extra time and will consider the result a draw if the game is tied in regulation time.

American odds (also see Moneyline)

American odds show favorites with a negative (-) while showing underdogs with a positive (+). The number next to the favorite indicates how much money you need to bet to win $100 dollars. The number next to the favorite is how much money you would win if you bet $100. 

Ex: Let’s say the Golden State Warriors are playing the Los Angeles Lakers. The bookmaker has placed the moneyline odds Lakers +605 (14.15%) and the Warriors -805. That implies that the bookmakers places a 14% chance that the Lakers win.

What this means is that if you were to bet $100 on the Lakers and they won you would get your $100 back plus an additional $605 which equals $705.

If you were to place a $805 bet on the Warriors and they won you would get your original $805 back plus $100 equalling $905.

Ante-post (see also Future, Outright betting)

This type of bet is typically used for horse races. It provides bettors better odds in exchange for betting early before overnight declaration stage. The risk you take as a bettor is that if your selection is a non-runner then you lose the money wagered.  

Arbitrage (see also Hedging)

Backing all selections within a market, across several bookmakers, to exploit the price discrepancies and guarantee a positive return. 

Against The Spread (ATS)

Against The Spread also known as ATS. When the spread favors one team over the other and you bet against the favorite.  

Ex: Let’s say your betting on football and the Detroit Lions are playing Cleveland Browns. If the spread is Lions (-6.5) and you bet on them to win the bet then you’ve bet against the spread. In order to win your bet the lions must win by 7 or more.  

B

Bankroll

The amount of money you bring to a game to play. For example if you go to a texas hold ‘em game with $100 then your bankroll is $100.

Bet (see also Wager)

The amount of money you risk on the result of a game. The amount of money you win is determined by the probability of the result your money on.

Bonus

An incentive for signing up, depositing money, or betting with a particular casino. There are typically conditions tied to these bets.

Bonus-chasing

Opening new accounts to receive the signup bonuses. This activity can get you banned from casinos and sports books.

Book/Bookie (see also Sportsbook) 

Short for Bookmaker. A casino or sportsbook offering odds on the outcome of sports and sometimes other events. They accept bets to these sports and events.  

C

Chalk (see also Favorite) 

The event most likely to win or have the highest odds of winning in a casino game or sporting event.  

Closing line 

The last available odds offered before a market closes. Bettors who "beat the closing line" have placed a bet offering a superior return to the final odds offered; consistently beating the closing line is a sign of a successful bettor.  

Commission (see also Juice,Vig/Vigorish) 

The cost for placing a sports bet and winning, which in the states is 10% or -110.

Ex: If you’re betting on the outcome between the Golden State Warriors vs. Los Angeles Clippers and the sportsbook is offering -110 on the bet. If you won, you would be paid out $191 and the sportsbook would get the $9 as the commission.

Correct score

A soccer and hockey exclusive where you predict the winning and the score of the game.  

Cover

When a favourite wins by more than the required number of points in a Handicap/Spread bet. The underdog needs to win or lose by less than the spread. For example if the New England Patriots are playing the Green Bay Packers and the spread is +3 in favor of the Packers. To win a bet with the Patriots then they would need to win by 4 or more points. To win a bet with the Packers as your pick they need to either win or lose by 3 points or less.  

D

Dime

Slang term for betting $1,000. Next time you’re at a bar or casino and you hear someone bet “5 dimes” and won, then likely next round is on him.  

Dog

Short for the underdog in a sporting event.  

Dollar 

Bookie specific slang term for betting $100. If you bet “three dollars” on your favorite team that means you wagered $300 dollars on them.  

Double result

When a better bets twice the amount of the standard amount. You may also hear “double pop” or “doubling up.”  

Drift 

When the chances of an event happening starts to decrease. You’ll likely hear someone saying that the event in question is drifting.  

E

Each-way

A horse and dog racing specific bets where you bet on the 1st place winner and either the 2nd or 3rd place winners. The two bets are independent of each other meaning you don’t need both to be right to win.  

Edge

When a sports bettor believes to have the advantage over the bookie through either additional/secret information or believe the bookies lines are not accurate.  

Even money

When odds are even which means odds are 50-50. These bets payout 1 to 1 or, for example if you bet $5 then you’ll win $5.  

Exotic (see also Special, Proposition) 

Any bet that isn’t a straight bet or parlay.  

Exposure

The potential loss to you or the bookie on a particular bet. 

F

Favorite (see also Chalk, Jolly)

The expected winner in a straight up game or event. Usually they have reduced payout or lay points. For example, if the Golden State Warriors are a 15.5 point favorite against the pistons, GSW would have to win by 16 points or more. 

First half bet (see also Second half, Quarter bet) 

When a bettor bets on the outcome of the first half of a sporting event.  

First/last goal

Scorer and hockey specific bet where the bettor tries to predict which team will score first and last in the game. 

Fixed-odds betting (see also Binary betting, Spread betting) 

This type of bet usually made with traditional bookies where the odds are set at the time of the bet and don’t change after.  

Future (see also Ante-post, Proposition, Special) 

A bet that takes a whole season to playout before knowing the result. Examples include betting at the beginning of the season that a team will win the Super Bowl, the World Series, the Stanley Cup, or the NBA Championship. A future bet could also be whether a team will be “above 500” at the end of the season. 

G

H

Half time bet (see also First half bet) 

Betting on the on a game (usually basketball or football) after the 1st half has ended and before the second half has started. You can expect the odds maker to adjust odds/spread based on 1st half result.  

Half-ball handicap

A half point (0.5) handicap.  

Handicap

Used to balance the bet on two opponents where one team’s perceived odds to win are greater than the other.  

Handicapper

A person who tries to predict the outcome of an event, usually using a math based system.  

Handle 

The amount of money wagered on an event through one book.  

Hedging (see also Arbitrage) 

Betting on the opposite side of your original bet to either guarantee a profit or mitigate potential losses. If you the Lions will win the Superbowl but also bet the Patriots to do the same, this would be an example of hedging.  

High Roller

A gambler who plays for high stakes.  

Home field advantage(HFA)

The advantages that are enjoyed by the non-visiting team.  

Hook

The half point in the spread. If the Tigers are the 2.5 point favorite than they would be “laying 2 and a hook.” 

I

In-game wagering (In-play betting, Live-betting)

When a book allows a bettor to place multiple bets while the game is occurring. An example of this is when people bet on each point in a tennis match.  

In-play betting (see also Live-betting) 

When a book allows a bettor to place multiple bets while the game is occurring. An example of this is when people bet on each point in a tennis match. 

J

Juice (See Commission, Vig/Vigorish) 

The cost for placing a sports bet and winning, which in the states is typcially 10% or -110.  

K

L

Landing on three/seven

Used to describe when the final score difference in an NFL game is three or seven which are the most common final score differential.  

Laying the points

Accepting the points handicap for the favorite team and wagering on them.  

Layoff 

When one sportsbook bets with another sportsbook or bookmarker to hedge their liability. 

Limit

The max bet taken by a book. If a book has a $15,000 limit, it will take the bet but the book will then choose if it wants to keep or adjust the odds before the better can bet again.  

Line (see also Price, Odds) 

Another word for odds.  

Linemaker (see also Oddsmaker) 

The person setting the lines/odds at a sportsbook or bookmaker.  

Listed pitchers 

A baseball specific bet where the named pitcher must start or the bet is void.  

Live-betting (see also In-play betting) 

When a book allows a bettor to place multiple bets while the game is occurring. An example of this is when people bet on each point in a tennis match.  

Longshot 

A selection with very low probability of winning but typically has equally large payout.  

M

Middle

A betting strategy to minimize risk by betting on both sides. If you’re betting on the Yankees at +1.5 against Red Sox, then the linemaker moves it to 2.5 points. You now have the option to take the Redsox at 2.5. If the Yankees win by 2 points then you’ve won both bets.  

Money-line

Instead of using a point spread, it’s replaced by this type of odds. Payout is calculated by doing the following:  

Negative: This is the amount of money that must wager to win $100. For -220 money-line odds you must bet $220 to win $100.

Positive: This is the amount of money you would win if you bet $100. For +220 money-line odds if you bet $100 you would win $220 (total payout $320)

Money Line

A bet in which an event only needs to happen to win. For example a boxing match or UFC fight would likely operate in this fashion. Payout is calculated the same as Money-line.  

Multiple (see also Accumulator, Parlay)

A combination of dependant bets offering proportionately higher returns, often using standardised permutations:
Double – 1 bet covering two co-dependant selections
Treble – 1 bets covering three co-dependant selections
Trixie – 4 bets covering limited permutations of three selections (1 treble, 3 doubles)
Patent – 7 bets covering all permutations of three selections (1 treble, 3 doubles, 3 singles)
Yankie – 11 bets covering limited permutations of four selections (1 four-timer, 4 trebles, 6 doubles)
Lucky 15 -  15 bets covering all permutations of four selections (1 four-timer, 4 trebles, 6 doubles, 4 singles)
Lucky 31 – 31 bets covering all permutations of five selections (5 singles, 10 doubles, 10 trebles, 5 four-timers and a five-timer)
Bets covering permutations of higher numbers of selections exist such as Canadian (5), Heinz (6), Super Heinz (7), Goliath (8) 

Mush

Popularized by the Movie “A Bronx Tale’s” Eddie Mush, a gambler who is perceived as bad luck.  

MVP

A typical bet for the NBA where an individual bets on a player to be Most Valuable Player at the beginning of the season.  

N

Nickle

Half of a dime or a $500 dollar bet. If you bet a nickel then you’re betting $500.  

No action

When a bet is voided and results in your money being returned. An example of this is a listed pitcher bet and the pitcher does not start so your money is returned.  

O

Odds (see also Line, Price)

A number representation of how likely an event is to happen which can later be wagered on. 

Oddsmaker (see also Linemaker) 

Person responsible for setting the lines/odds at a bookmaker.  

Off the board

A game or event that a bookie will no longer take wagers on. This is typically when there’s an important late injury or other uncertainties that may arise prior to an event.  

Outright betting (see also Ante-post, Future, Special) 

A bet that takes a whole season to playout before knowing the result. Examples include betting at the beginning of the season that a team will win the Super Bowl, the World Series, the Stanley Cup, or the NBA Championship. A future bet could also be whether a team will be “above 500” at the end of the season.  

Over/Under 

Used for prop bets where you guess whether an event variable will be over or under the number the bookie sets. For example if the over/under on the lions winning 7.5 games during the season. Then you could wager whether you think they will win 8 games or more.  

P

Parlay (see also Multiple, Accumulator) 

When a series of bets are placed together and all need to be correct to collect money.

Ex: Betting on 3 football games in a week. All the teams you picked need to beat the spread in order to collect on the wager you made.  

Payout 

The amount of money paid to you less the original bet is the payout. It’s the winning total amount of money you’re being paid.  

Pick 'em 

A game where there is no favorite and the point spread is zero. This implies the chance of one team winning is the same as a coin flip.  

Points Spread (spread) 

It’s the measure of points that the favorite team is favored over the underdog.  

Post time 

Scheduled time of an event.  

Price (see also Odds, Line) 

Another term for odds, line or points spread.  

Prop (Proposition) bet (see also Novelty bet, Special)

Similar to exotix bet, it’s a bet that you would not see on the board. These bets can be anything from betting the over/under on a team’s record, total yards a quarterback will throw, how many points an NBA player will score, and much more.  

Push (see also Draw, Tie) 

When there’s no winner or loser during an event and your money is refunded to you.  

Q

Quarter bet (see also First half, Second half bet)

Similar to the first half and second half bets, you’re betting on the outcome of one quarter only.  

R

Reload bonus

A bonus that can be redeemed again once you deposit more money into your account.  

Run line

Baseball specific phrase for line or spread where the handicap of runs is stated. 

Runnner

A person who makes a bet on your behalf.  

S

Second half bet (see also First half, Quarter bet)

When you wager on the result of the second half of a sporting event only.  

Sharp

A professional better or sophisticated better.  

Special (see also Future, Novelty bet, Outright betting)

Similar to prop bets where any bet is made outside of what would be shown on the on the board.  

Sportsbook (see also Book)

Another name for a Bookmaker. 

Spread (see also Handicap)

Short for the point spread.  

Spread betting

When a better bets on the likely hood of a favorite to exceed the handicap or not instead of using moneyline or one of the other odds based betting methods. 

Square

A novice or amuetuer better.  

Stake

The amount of money wagered on a particular bet. 

Steam

When odds move rapidly due to a large volume of bets over a short period of time. Most "steam games" do not necessarily reflect objective circumstances, but can often reflect herd instinct or inherent biases toward favoured teams. 

Straight bet

A bet on one of the three outcomes, win, loss, or tie of an event.  

T

Taking the points

When betting on the underdog taking the handicap points in your favor.  

Teaser

When you bet on multiple teams and the spread is adjusted in your favor. You have to pick all the games correctly to win the bet. 

Ticket

Historically when making a sports bet it would be confirmed by a ticket. The term is still used with online gambling.  

Tie (see also Draw, Push)

When there’s no winner or loser during an event and your money is refunded to you.  

Tip

When an individual provides your with a betting prediction by someone who supposedly insider information on the event or game. You see the example here with Eddie Mush recommending a horse he’s got a tip on.  

Tipster (see Tout)

Someone who offers their picks on games or events. Sometimes these people can charge for their information.

Total

The expected point or win total of game or team. You would use total in an under/over bet with your sportsbook.

Tout

Someone who offers their picks on games or events. Sometimes these people can charge for their information.

U

Underdog

The team who has the worse odds of winning at game. Usually this is represented with a point spread in their favor or increased odds/payout on a straight bed.

V

Vigorish/Vig (see also Commission, Margin, Juice) 

The cost for placing a sports bet and winning, which in the states is 10% or -110.

W

Wager (see also Bet)

The money you risk when making a bet with a bookie or sportsbook.  

Wise guy

A professional better who can also be referred to as sharp.

X

Y

Z

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