Sports betting glossary

How to use this glossary

The terms below are the ones you meet most often when you read odds, open a bet slip or read an app's rules. They are in alphabetical order. Each definition is short on purpose, and where a longer explanation exists on this site, the link after the list points to it. Use your browser's find function to jump to a term.

Terms differ a little between apps and between sports, so treat these as general definitions and read the rules page of the app you use for the exact wording.

Terms from A to Z

Action

A bet that is placed and counts. "Action" also means the total amount of money bet on a game.

Against the spread (ATS)

A team's record measured by whether it covered the point spread, not by whether it won the game.

Alternate line

A spread or total offered at a different number than the main line, with a price that reflects the change.

American odds

The way US sportsbooks write prices. A minus number is the stake needed to win $100. A plus number is the profit on a $100 stake.

Arbitrage

Betting both sides of a market at different apps at prices that lock in a result before costs. Prices that allow it are rare and short-lived.

Bad beat

A bet that loses in an unlikely way, often late in the game.

Bankroll

The money you set aside for betting. It is the amount you can afford to lose, not money needed for anything else.

Bet slip

The list of bets you have selected before you confirm them, showing price, stake and the amount to win.

Bettor

A person who places bets.

Bonus bet

Credit you can stake but not withdraw. In the usual form the stake is not returned when it wins.

Bookmaker

Another word for a sportsbook, or the person who sets its prices.

Break-even rate

The share of bets at a given price you must win to come out even over time. For -110 it is about 52.4%.

Buy points

Paying a higher price to move a point spread or total in your favor by a half point or more, where the app allows it.

Cash out

Settling an open bet early for an amount the app offers, instead of waiting for the result.

Chalk

Another word for the favorite, the side expected to win.

Closing line

The final price on a market just before the event starts. Some bettors compare their price with it.

Cover

To beat the point spread. A team covers when it wins by more than the spread or loses by less than it.

Decimal odds

A price written as the total return per dollar staked. Decimal 2.50 means a $1 stake returns $2.50, stake included.

Deposit match

A bonus that adds credit equal to part of your deposit, usually with a rollover requirement.

Dog (underdog)

The side expected to lose. It carries a plus number and pays more per dollar staked.

Edge

An advantage over the price, meaning your honest estimate of a chance is better than the break-even rate of the price.

Even money

A price of +100, where a $100 stake wins $100 in profit.

Exotic bet

A bet outside the standard moneyline, spread and total, such as a prop or a future.

Favorite

The side expected to win. It carries a minus number and pays less per dollar staked.

Fixed odds

A price that is locked in when you place the bet and does not change afterward.

Futures

A bet on an outcome that settles later, such as a championship or an award.

Geolocation

The check an app runs to confirm you are physically in a state where betting is allowed.

Handle

The total amount of money wagered with a sportsbook over a period.

Hedge

A bet placed on the opposite side of an earlier bet to reduce the risk of loss or to lock in a result.

Hold

The share of the money staked that a sportsbook actually keeps.

Hook

The half point on a line, such as the .5 in -3.5, that stops a bet from tying.

Implied probability

The chance of winning that a price suggests. For -150 it is 60%.

In-play (live) betting

Betting while the game is being played, at prices that update as events happen.

Juice (vig)

The margin built into a price. At -110 on both sides it is the reason both sides cost more than an even price.

Key number

A margin of victory that games land on more often than others, such as three points in American football.

Leg

One bet inside a parlay.

Limit

The most an app will accept on a bet. It also means a cap you set yourself on deposits, losses or time.

Line

The number or price a market is set at, such as a spread of -3.5 or a total of 47.5.

Line movement

A change in a line or price over time, caused by news or by the money coming in.

Lock

A bet that someone claims cannot lose. No bet is a lock, and the word should make you cautious.

Margin

The amount by which the implied chances in a market add up to more than 100%.

Market

The question a bet answers, such as who wins or whether a total goes over.

Middle

Betting both sides of a game at different numbers so that one result can win both bets.

Moneyline

A bet on which side wins the game outright, with no point spread.

No-vig price

The price of a side with the margin removed. It is the fair price implied by the market.

Odds boost

An offer that raises the price on a selected bet for a short time, under the terms of the app.

Off the board

A market that is not open for betting at the moment, for example during a pause or after news breaks.

Opening line

The first price a sportsbook posts for a market.

Over/under

A bet on whether a number, such as the combined score or a player stat, finishes above or below a set figure.

Parlay

A single bet that combines several legs. Every leg must win, and the prices multiply.

Pick'em

A game priced as an even contest, with no favorite and typically near -110 on both sides.

Point spread

A margin set by the sportsbook. You bet that a team wins by more than it or loses by less than it.

Prop

Short for proposition bet, a wager on an event or stat inside a game or season.

Push

A result that lands exactly on the number, so the stake is returned.

Responsible gambling

Betting within limits you set, treating it as entertainment and getting help if it stops being fun.

Rollover (playthrough)

The amount you must wager before a bonus or its winnings can be withdrawn.

Round robin

A set of parlays built from several selections, so that not every leg must win for a ticket to pay.

Same-game parlay

A parlay whose legs all come from one game. Apps price the link between the legs.

Self-exclusion

A program that lets you ask to be barred from betting for a set period or permanently.

Settle

To decide a bet as a win, loss, push or void once the result is official.

Sharp

A bettor who is thought to be skilled. "Sharp money" means bets from such players.

Sportsbook

A licensed business that takes sports bets.

Stake

The amount of money you bet.

Steam

A fast move in a line across several apps, often tied to news or large bets.

Straight bet

A single bet on one outcome, not combined with others.

Teaser

A bet that moves the spread on several legs in your favor at a lower payout. Offered on some markets.

Three-way moneyline

A moneyline with the draw as a third outcome, used in sports where a draw is common.

Total

The combined score in a game. A total bet is on whether it goes over or under a number.

Unit

A fixed share of your bankroll used to size bets, so stakes stay consistent.

Void

A canceled bet that returns the stake, for example when an event is called off.

Wager

Another word for a bet, or the act of placing one.

Wagering requirement

Another word for a rollover on a bonus.

Reading price terms together

Several of the terms above describe one idea from different angles. A price written as American odds, such as -150, converts to decimal odds of 1.667, and to an implied probability of 60.0%. A market with -150 on one side and +130 on the other has a margin of 3.5%, and the no-vig prices are about -138 and +138. The break-even rate of the -150 side is that same 60.0%, and its hold, for the sportsbook, depends on how the money lands.

Where to read more

• American odds for how a price converts to a chance.
• Moneyline, spread and totals for the three main bets.
• What is a parlay and the prop bet guide.
• Cash out and pushes and voids.
• How sportsbooks make money for margin, vig and hold.
• How to value a sportsbook bonus for rollover and bonus bets.

Keeping it in proportion

Knowing the vocabulary is the first step, and staying in control is the second. Bet only what you can afford to lose, and treat any result as entertainment spending. If you or someone you know has a gambling problem and wants help, call 1-800-GAMBLER. The responsible gambling page lists tools and support.

Frequently asked questions