Betting 101

Sports Betting 101

If you're new to the world of sports betting, below are some commonly used terms that can be quite humorous and informative. For example, a "square" is a casual gambler who doesn’t use sophisticated reasoning to make wagers.

Most of this has nothing to do with responsible wagering, but if you want to talk like you're a pro at the table, these are some terms you can throw out to impress people.

We’re here to provide all the information you need to confidently place your wagers and manage your funds.

And of course, if you ever have any questions, please feel free to email us HERE.

Sports Betting Terminology

  • Action: Having a wager on a game.

  • ATS ("against the [point] spread"): Refers to a team’s performance against the point spread. For example, if a team is 5-2 ATS, it means they have a 5-2 record against the spread.

  • Backdoor cover: When a team scores points late in a game to cover the spread unexpectedly.

  • Bad beat: Losing a bet you should have won, especially when the result changes late in the game, altering which side covers the spread.

  • Beard: Someone who places a wager on behalf of another person (also known as a "runner").

  • Book: Short for sportsbook or bookmaker; the person or establishment that takes bets from customers.

  • Bookie: A person who accepts bets illegally and charges vig.

  • Buying points: Some bookies or sportsbooks allow customers to alter the set line by buying points, which adjusts the odds accordingly.

  • Chalk: The favorite in a game. "Chalk" bettors typically bet on the favorite.

  • Circle game: A game for which betting limits are lowered, usually due to injuries or weather conditions.

  • Closing line: The final line before the game or event begins.

  • Consensus pick: A pick derived from data across multiple sportsbooks, indicating the side the public is favoring in a game.

  • Cover: The outcome of a point-spread bet. A favorite covers by winning by more than the spread, while an underdog covers by winning outright or losing by less than the spread.

  • Dime: Jargon for a $1,000 bet. For example, "three dimes" means a $3,000 wager.

  • 'Dog: Short for underdog.

  • Dollar: Jargon for a $100 bet. For example, "five dollars" means a $500 wager.

  • Edge: An advantage a bettor feels they have when they believe a sportsbook's lines are inaccurate.

  • Even money: Odds where the potential payout is equal to the amount wagered.

  • Exotic: Any wager other than a straight bet or parlay, such as a prop or proposition wager.

  • Favorite: The expected winner of a game or event. In point-spread betting, the favorite must cover the spread to be an ATS winner.

  • Fixed: When the outcome of a game is altered to a predetermined result due to undue outside influence.

  • Futures bet: A long-term wager typically related to a team’s season-long success, such as betting on a team to win a championship.

  • Halftime bet: A bet placed after the first half of a game, typically with adjusted odds based on the first-half performance.

  • Handicapper: A person who predicts the winners of an event.

  • Handle: The total amount of money wagered on an event by a sportsbook.

  • Hedging: Placing a bet on the opposing side of your original wager to ensure some profit or minimize potential loss.

  • High roller: A high-stakes gambler.

  • Hook: A half-point in a betting line. For example, if a team is a 7.5-point favorite, they are "laying seven and a hook."

  • In-game wagering: Placing bets in real-time as the game is occurring.

  • Juice: The commission taken by a bookie or bookmaker, typically 10%. Also known as the "vig" or "vigorish."

  • Layoff: A bet placed by a sportsbook with another bookmaker to reduce its own liability.

  • Limit: The maximum bet a book will accept.

  • Lock: A bet that is considered a guaranteed win.

  • Middle: Betting on both sides of a line when it moves, aiming to win both bets with minimal risk.

  • Money line: A bet where your team only needs to win, with the point spread replaced by odds.

  • Mush: A bettor who is considered to be bad luck.

  • Nickel: Jargon for a $500 bet.

  • Oddsmaker: The person who sets the betting odds, often synonymous with "bookmaker."

  • Off the board: When a book stops accepting bets on a game, often due to injuries or uncertainties.

  • Over/under: A bet on the total combined points in a game, or the number of games a team will win in a season.

  • Parlay: A bet involving multiple teams where all must cover for the bet to win.

  • Pick 'em: A game with no favorite or underdog, where the point spread is zero.

  • Point spread: The number of points by which the favored team is expected to win.

  • Proposition (prop) bet: A special or exotic wager, such as which team will score first.

  • Push: When a game’s result lands exactly on the betting number, resulting in a refund of all wagers.

  • Return on investment (ROI): The amount a bettor should expect to get back on a spread pick.

  • Runner: Someone who places bets on behalf of another person.

  • Sharp: A professional sports bettor.

  • Spread: Short for point spread.

  • Square: A casual gambler who doesn’t use sophisticated reasoning to make wagers.

  • Steam: When a betting line moves quickly, often due to a large number of bets being placed at the same time.

  • Straight up: The outright winner of a game, without considering the point spread.

  • Teaser: A bet involving multiple teams where the point spread is adjusted in the bettor’s favor.

  • Total: The expected total points, runs, or goals in a game, with bets placed on the over or under.

  • Tout: A person or group that sells or gives away picks on games.

  • Underdog: The team expected to lose. Betting on an underdog can involve either the point spread or money line.

  • Vig/vigorish: The commission taken by a bookie or bookmaker, typically 10%.

  • Wager: A bet.

  • Welch: To fail to pay off a losing bet.

  • Wiseguy: Another term for a professional bettor or "sharp."

"With Positive Intent".