Ultimate Glossary of Sports Betting Terms

Moneyline

A bet on which team or player will win the game or match outright. The odds are expressed with a plus (+) or minus (−) sign.
Example:

Yankees -150: You must bet $150 to win $100.
Red Sox +130: A $100 bet wins $130.

Point Spread

A handicap used to level the playing field between two teams. You bet on whether a team will win by more than the spread (cover) or lose by less than the spread (or win outright).
Example:

Lakers -6.5 means they must win by 7 points or more.
Bulls +6.5 means they must lose by 6 or fewer, or win.

Over/Under (Totals)

A wager on whether the combined score of both teams will be over or under a specific number set by the sportsbook.
Example:

Over 48.5: Bet wins if total is 49 or more.
Under 48.5: Bet wins if total is 48 or less.

Parlay

A single bet that links multiple wagers together. All selections must win for the parlay to pay out. The payout is higher due to increased risk.
Example:

Bet on 3 teams: All must win or the bet loses.

Teaser

A parlay where the bettor can adjust the point spreads in their favor, but at lower odds. Common in football and basketball.
Example:

6-point teaser: Adjust spread by 6 points for all legs.

Prop Bet (Proposition Bet)

A bet on a specific event or statistic within a game that doesn’t necessarily affect the final outcome.
Example:

Will Patrick Mahomes throw over 2.5 touchdowns?

Futures

A bet placed on the outcome of an event far in advance.
Example:

Betting on the Chiefs to win the Super Bowl before the season starts.

Live Betting (In-Play Betting)

Betting that takes place after the game has started. Odds shift in real-time based on gameplay.
Example:

Betting on the next team to score after kickoff.

Juice (Vig or Vigorish)

The commission taken by the sportsbook for taking the bet.
Example:

A standard juice is -110 on both sides of a spread.

Push

A tie between the bettor and sportsbook. The wager is refunded.
Example:

If you bet Over 50 and the total ends at 50, it’s a push.

Handicap

A method of evening the odds by giving one side an advantage or disadvantage. Often used interchangeably with point spread in some regions.

Bankroll

The total amount of money a bettor sets aside specifically for wagering.

Unit

A measurement of bet size relative to bankroll.
Example:

If bankroll = $1,000 and 1 unit = $20, a 2-unit bet = $40.

Sharps

Professional or highly skilled bettors whose opinions can shift betting lines.

Squares

Casual or recreational bettors who often bet based on emotion or popular sentiment.

Chalk

The favored team or player in a matchup.
Example:

“Taking the chalk” means betting on the favorite.

Dog (Underdog)

The team or player not expected to win.
Example:

“Betting the dog” means backing the underdog.

Line Movement

Changes in the odds or point spread caused by betting action, news, or sharp money.

Hedging

Placing a second bet to reduce risk or guarantee profit from an earlier wager.

Arbitrage

Betting on all possible outcomes of an event across different sportsbooks to guarantee a profit regardless of the result.

ATS (Against the Spread)

A team’s record when factoring in the point spread.
Example:

A team may be 10-6 straight up but 12-4 ATS.

Handle

The total amount of money wagered on a particular event or across a sportsbook.

Limit

The maximum amount a sportsbook will allow on a single wager.

Steam

Rapid line movement caused by a large volume of bets, often triggered by sharps.

Middle

A betting strategy where a bettor wagers on both sides of a spread at different lines to potentially win both.
Example:

Bet Team A -3 and Team B +5. If the final margin is 4, both bets win.

ROI (Return on Investment)

A metric used to measure the profitability of betting activity.
Formula:

ROI = (Profit ÷ Total Amount Wagered) × 100

Closing Line

The final odds offered before the event starts. Used as a benchmark to evaluate line value.

Bad Beat

A wager that is on pace to win but loses due to a sudden and unlikely event.

Lock

A term used (often inaccurately) to describe a bet that is guaranteed to win. No bet is ever truly a “lock”.

Public Money

Wagering action from casual bettors, often influencing line movement in popular matchups.

Consensus Pick

A selection that is backed by a majority of the public or analysts.

Bookmaker (Bookie)

The entity or person that sets odds and takes bets, typically operating a sportsbook.

Offshore Sportsbook

A sportsbook located outside one’s country, often used to avoid local gambling restrictions.

Juice-Free Line

Also called “even odds” or “true odds.” Bets are offered with no vigorish, typically at +100.

Conclusion

Understanding sports betting terminology is essential for making informed decisions and improving long-term success. Whether you’re a beginner or an experienced bettor, mastering these terms enhances your strategy and communication in the fast-paced world of sports betting.