Betting Terms & Definitions

Action

A sports bet of any kind.

Added Game

A game that is not part of Las Vegas regular rotation but is posted as an accommodation to customers.

American Odds

A price formatted as +100, +200, -100, -150, etc.

Angles

From the phrase "using the angles", using key factors from previous events to predict the results for future outcomes.

Ante-Post

See Futures, below.

ATS

Against The Spread.

Bet

To wager money on the outcome of an event. The money pledged on an event. AKA wager.

Betting

The act of placing bets.

Bettor

One who places bets. AKA player.

Book

Abbreviation for Sportsbook.

Bookie

Abbreviation for bookmaker; a term of endearment.

Bookmaker

An organization or a person that takes bets on sporting and other events at agreed upon odds.

Buck

Slang term for a $100 bet.

Canadian Line

See puckline, below.

‘Capper

See handicapper, below.

Chalk

Slang term for the favorite in a betting proposition.

Chalk Player

A player who usually bets on the favorite, rarely betting on the underdog.

Circled Game

A game where the action is reduced and cannot therefore be included in parlay or teaser bets. This usually occurs in added games, games affected by bad weather, some props or betting on game halves, rather than the full outcome.

Combination

See parlay, below.

Cover

Win a pointspread bet. In game terms, a favorite covers when it wins by more than the pointspread, and an underdog wins when it wins or does not lose by more than the pointspread.

Data Mining

Searching through a large volume of statistics to find profitable situations on which to bet in the future.

Decimal Odds

A price formatted as 2.00, 3.00, 4.50, etc.

Dime

Slang term for a $1000.00 bet.

‘Dog

Abbreviation for underdog.

‘Dog Player

A bettor who usually bets on the underdog, rarely betting on the favorite.

Dollar

Slang term for a $100 bet.

Double

A two runner parlay.

Edge

The rationale behind a bet.

Even Money

A price that returns the exact amount of the bet in profit. Formatted as +100, 2.00, 1/1 or EVNS.

Event

Something on which people can bet.

Exotic

See proposition, below.

Exposure

What a sportsbook stands to lose on an event.

Favorite

The team more likely to win an event in the view of the majority of bettors. The price reflects the degree of expectation.

Fifty Cents

Slang term for a $50 bet.

First Half Bet

A bet on the first half of a game.

Fractional Odds

A price formatted as 2/1, 3/1, 100/30, etc.

Futures

A betting market that is posted in advance of the event being bet. A bet on a team to win the Super Bowl before the teams contesting the Super Bowl are known is a futures bet. AKA ante-post betting, outright betting.

Gamble

See bet, above.

Getting Down

Slang term for placing a bet.

Grand Salami

An NHL betting market on the total number of goals scored in the hockey games that day.

Half a Dollar

Slang term for $50 bet.

Half Time Bet

A bet on the second half of a game.

Handicapper

One who sets the odds on an event. AKA line manager, linemaker.

Handicapping

The skill of correctly setting the odds on an event.

Handle

The number of bets taken on an event by a sportsbook.

Hook

The half-point sometimes seen in pointspreads.

Hot Game

An event attracting a lot of action.

Laying (the) Points

Betting the favorite in a pointspread event. The opposite of taking the points.

Laying (the) Price

Betting the favorite in a moneyline or straight-up event. The opposite of taking the price.

Limit

The maximum allowable bet.

Line

The odds, price or pointspread on a particular event.

Linemaker/Line Manager

See handicapper, above.

Listed Pitchers

The pitchers who must start (throw the first pitch) in a baseball game for bets on the game to stand at their original prices.

Longshot

A highly priced underdog.

(Betting) Market

An event on which bets are taken.

Moneyline

A straight-up bet where the winner is simply decided by who wins the game, irrespective of by how much.

Nickel

Slang term for a $500 bet.

No Action

A voided bet where the money staked is returned; a game that is off the board.

Odds

The probability of an outcome occurring on which the price is based.

Off the Board

A game on which the bookmaker is not taking bets.

One Dollar

Slang term for a $100 bet.

Opening Line

The initial price posted on an event.

Outright Betting

See Futures, above.

Over/Under

See totals bet, below.

Parlay

A bet on more than one event in which the winnings on one event are then rolled onto the next. All the events in the parlay must win for the parlay to win.

Payout

What a bettor receives when (s)he wins.

Pick'em

A pointspread event where neither team is favored.

Placing a Bet

Staking money that a particular outcome will occur in a particular event.

Player

Slang term for a bettor.

Pointspread

The margin by which a favorite is handicapped to win an event.

Price

How much the bettor will win if the bet wins, as derived from the odds.

Prop

Abbreviation for proposition.

Proposition

An event outside of mainstream sports betting, such as political happenings, celebrity news, etc., or else an event associated with a mainstream sports event but not vital to it – how much an individual player will score in a particular game, a quarterback’s passing yards, etc.

Puckline

A combination of the pointspread and moneyline in hockey. AKA Canadian Line.

Punter

British slang for bettor.

Puppy

Slang for an underdog.

Push

A pointspread event where the favorite wins by the pointspread exactly. As there is no winner or loser, all bets are returned.

Return

The bettor’s stake multiplied by the price. What the bettor wins.

Round Robin

A type of bet that features three or more teams in 2-team parlays.

Runline

A combination of the pointspread and moneyline in baseball.

Runner

An individual participant or team (selection) available for betting.

Sharp

A sophisticated or professional bettor.

Sportsbook

An organization that accepts and pays out bets.

Spread

Abbreviation for pointspread, above.

Square

A relatively unsophisticated, or novice, bettor.

Stake

The amount of a bet.

Steam Game

A game where the line starts to move rapidly because it is taking a lot of one-sided action. Most "steam games" do not necessarily reflect objective circumstances, but are games that a mass of bettors are drawn to for some reason.

Steam Chaser

One who bets on the favorite in a steam game.

Straight Bet

A bet on who will win a game without any regard to the pointspread.

Taking the Points

Betting the underdog in a pointspread event. The opposite of laying the points.

Taking the Price

Betting the underdog in a moneyline or straight-up event. The opposite of laying the price.

Teaser

A parlay bet on a series of pointspread events where the pointspread or total of each individual event is adjusted in favor of the bettor. The cost of moving the pointspread (teasing) is a lower price on the subsequent parlay.

Tie

See push, above.

Total

The combined amount of runs, points or goals scored by both teams during a game, including overtime.

Totals Bet

A bet that the total points scored in a game will be over or under the total posted by the sportsbook.

Underdog

The team less likely to win an event in the view of the majority of bettors. The price reflects the degree of expectation.

Wager

See bet, above.

Wise Guy

See sharp, above.

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