Betting Terminology
Definition Of Sportsbook
Sportsbook Definition Biology
Sports Betting Terminology
Sportsbook Definition Dictionary
Betting Terms

How to Bet On Sports > Sports Betting Glossary

Whether you are new to sports betting, or have years of experience in the field, some of the betting terms used may foreign or confusing. The list below contains some of the more common terminology that you will see used on this site, and in the betting world as a whole.

Action – A wager of any kind.

The sports betting term 'sportsbook' refers to a company, or even just a single person, who accepts bets on sports. They will take your bets and pay you if you win. They take a commission on. Over/Under – In sports betting, the over/under or over-under (also referred to as “O/U”) is a number for a score/statistic in a given game set by sportsbooks. Bettors then wager that the actual number in the game will either be higher or lower than the predicted number set by sportsbooks. Sports Betting Terms and Definitions. Like any hobby, sports betting has a massive library of jargon and terms that new bettors may not know. If you’re a novice sportsbook customer, reading through this list of the most commonly-used sports betting terms, along with their dictionary definitions, will help you ease your way into the world of gambling on sporting events. Oct 11, 2014 The sports betting term 'sportsbook' refers to a company, or even just a single person, who accepts bets on sports. They will take your bets and pay you if you win. At the heart of the betting and gaming industry are the products that work hard to attract customers to each business. Whether we are talking sports in the sportsbook realm, or particular games in a casino, each has a manager who is accountable for ensuring that product is.

Added Game – A game that is not part of the regular Las Vegas rotation. Often times this will be a rescheduled game or the second game of a doubleheader.

Against the Spread (ATS) – Refers to taking points (aka the spread) as opposed to taking a game straight up.

Arbitrage – The simultaneous purchase and sale of the same game in different markets to profit from unequal prices.

Bankroll – The available funds you have to bet with.

Bookmaker – A person who is licensed to create betting lines and take wagers.

Buying Points – Paying an additional fee in order to get a game at a more attractive price. Often times bettors will buy points in football around key numbers such as 3 and 7.

Chalk – The favored team.

Contrarian Betting – Also known as betting against the public, contrarian betting finds value by betting on games with lopsided betting percentages.

Cover – In sports such as football and basketball, a bettor wins their bet if they cover the point-spread. For example, if you bet a 7-point favorite and they win by 9, you have covered the spread.

Dime Crazy fruits fruit machine. – A bet of $1000.

Dog – Short for underdog, this is the team which bookmakers assume will lose the game.

Draw – Also known as a push. If a game falls exactly on the spread, there is no winner and bettors will receive their money back.

Edge – A bettors advantage against the house. This will typically refer to an instance where you have a positive expected value.

Betting Terminology

Even Money – A bet where you are not paying any vigorish (i.e. +100).

Favorite – The team bookmakers expect will win their game.

Field – Often time in proposition (prop) bets, bettors are allowed to bet the field. This refers to an accumulation of all the teams or players that are not listed specifically.

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Future – This refers to bets that come down in advance of an event. For example, one can bet a Super Bowl future prior to the beginning of the season by selecting who they believe will win the championship. A bettor would receive payment at the end of the season if their selection did claim the title.

Hedging – Placing bets on the opposite side after you have already placed a wager on one side. This can be used to either cut your losses, or guarantee a profit.

Hook – In spread based sports, the hook is an extra half-point that bettors can get. Often times in football, bettors will buy the hook around key numbers like 3 to get a line of 3.5.

Grand Salami – This typically refers to the over/under total for how many goals/runs will be scored across all games in a specific league.

Juice – This is the tax that sportsbooks create for placing a wager. Typically, books offer a dimeline (-110) which means that you need to win 52.38% of your bets to break even. Some books will offer reduced juice with lines between -104 and -107.

Key Numbers – This represents the most common margins of defeat, and is used frequently in football where many games end with one team winning by a multiple of 3 or 7.

Limit – The most money a sportsbook will take on a single event.

Definition Of Sportsbook

Lines – Another term for the odds.

Middle – This occurs when you bet on both sides of a game and have an opportunity to win both bets. For example if you bet on Team A +10.5 and Team B -7.5, you would win both bets if Team B wins by 8-10 points.

Moneyline – In sports like baseball, soccer and hockey, there are so few goals scored that it would not make sense to offer a spread. Instead, these sports offer a moneyline in which you bet on whether or not a specific team is going to win straight up.

Nickel – A bet of $500.

Sportsbook Definition Biology

Off the Board – A game or event that is sportsbooks will not allow you to bet on. Often times a game is taken off the board if their is uncertainly surrounding a player’s injury status or the weather.

Over/Under – Also known as the total, this refers to the total amounts of points/goals/runs that will be scored in the game. If both teams combine to score more than the total, the over wins. If they combine to score less, the under wins.

Parlay – When a bettor makes multiple bets (at least two) and ties them together, you need multiple events to all win for higher payouts. This is a risky proposition, but potentially very lucrative.

Pick ‘Em – An instance in which neither team is favored. In spread based sports like basketball or football, this would equate to a line of 0.

Sports Betting Terminology

Prop Bet – A bet on something other than the outcome of a game. Common prop bets include an over/under on points scored, passing yards, or strikeouts by an individual.

Public Betting Percentage – Also referred to as public betting trends, we offer real betting percentages from seven contributing sportsbooks. These numbers represent real bets placed at real sportsbooks. These percentages are integral for our betting against the public philosophy.

Push – When a contest ends without a winner. In a moneyline sport this would happen if the game ended in a tie. In a spread sport, this would happen if the favorite wins by the exact spread.

Sportsbook Definition Dictionary

Real Time Odds – Live lines (which Sports Insights offers for over 40 a