Important Terms
Point Spread - The most popular sports bets are based on the point spread, sometimes just called the "Spread." The point spread represents the margin of points in which the favored team must win to "cover the spread." Bets on the point spread are usually offered at 11-to-10 odds. For example, a player must bet $11 to win $10 for a total payout of $21, or $110 to win $100 for a total payout of $210.
Money Line - The money line represents the odds of a team winning the game outright without the use of the point spread. The money line is expressed as a 3-digit number. For example -150 means a player must bet $150 for every $100 they wish to win, $15 for every $10 and multiples thereof. Or, a +140 means a player will win $140 for every $100 they bet.
Glossary
Action – A sports wager of any kind; a bet.
Added Game – A game not part of the typical menu of wagering offerings, often posted as an accommodation to patrons.
Advance Deposit Wagering (ADW) - Wagering where you must have funds in your account to cover the cost of the wager before the wager can be placed. This is how FanDuel and most wagering services operate.
Bad Bet - A wager that loses unexpectedly.
Book – An establishment that accepts bets on the outcome of sporting events.
Buck - A $100 sports wager, also called a Dollar.
Buy (Points) – A player pays an additional price (lays more money) to receive a half-point or more in his favor on a point spread game.
Canadian Line - A hockey wager. A combination point spread and moneyline.
Chalk – The favorite.
Chalk Player - A bettor who generally only plays the chalk. Sometimes called a "Chalkeater."
Circled Game - A game where the limits are lowered, or betting options are restricted, often due to injuries.
Cover – Winning by more than the point spread.
Dime - A $1,000 sports wager.
Dime Line - A line where the juice is 10 percent.
Dog - The team perceived to be most likely to lose. Short for underdog, sometimes called the "Puppy."
Dog Player - A bettor who generally only plays the underdog.
Double Action - An "if bet" that is processed when the precedent bet wins, ties or cancels.
Edge - A person's advantage when it comes to sports betting.
Even Money - A wager on which neither side lays any odds or vigorish.
Exposure - The maximum amount of money a sportsbook stands to lose on a game.
Favorite – The team considered most likely to win an event.
Fifty Cents - A $50 sports wager. Also called Half-a-Dollar.
Final Four - The remaining four teams in the NCAA basketball tournament.
First Half Bet - A bet placed only on the first half of the game.
Futures/Future Bet - A future bet is a wager placed on an event typically far in the future, such as which team will win next year's Super Bowl or which horse will win the next Kentucky Derby.
Future Odds - Odds that are posted well in advance on the winner of major events, such as the Pro Basketball and Baseball Championships.
Grand Salami - The grand total of goals scored in all the hockey games of the day. It can be wagered to go Over/Under.
Handicapper - A person trying to predict the winners of an event. Can refer to anyone who wagers but is more commonly used for professionals that wager and handicap for a living.
Handicapping - Attempting to predict the result of an event using known information.
Halftime Bet - A bet placed on the score in the second half of the game, including any overtime periods.
Handle – The total amount of bets taken.
Hedging - Betting the opposing side of your original bet, to either ensure some profit or minimize potential loss.
High Roller - A high-stakes gambler.
Hook - A half-point.
Hot Game - A game that is drawing a lot of action on one side from knowledgeable handicappers.
Juice – The bookmaker’s commission, most commonly the 11 to 10 bettors lay on straight point spread wagers; also known as “vigorish.”
Laying the Points - Betting the favorite by giving up points.
Laying the Price - Betting the favorite by laying money odds.
Limit – The maximum amount accepted by the house before the odds and/or point spread are changed.
Line – The current odds or point spread on a particular event.
Linemaker - The person who establishes the betting lines. Also known as "Oddsmaker."
Listed Pitchers – A baseball bet placed only if both of the pitchers scheduled to start a game actually start. If they don’t, the bet is deemed “No Action” and refunded.
Lock - An exceptionally strong favorite.
Longshot – A team perceived to be unlikely to win.
Middle - To win both sides of a game; wagering on the underdog at one point spread and the favorite at a different point spread and winning both sides. For example, if the player bets the underdog at +4 1/2 and the favorite -3 1/2 and the favorite wins by 4, the player has "middled" the book and won both bets.
Money Line - The money line represents the odds of a team winning the game outright without the use of the point spread. The money line is expressed as a 3-digit number. For example -150 means a player must bet $150 for every $100 they wish to win, $15 for every $10 and multiples thereof. Or, a +140 means a player will win $140 for every $100 they bet.
Nickel – A $500 sports wager.
No Action – A wager in which no money is lost or won and the original bet amount is refunded.
Off the Board - A game in which no bets are being accepted.
Opening Line - The earliest line posted for a particular event. Called the "Morning Line" in horse racing.
Outlaw Line - The earliest line in sports betting. This is an overnight line that only a handful of players are allowed to bet into.
Over – A sports bet in which the player wagers that the combined point total of two teams will be more than a specified total.
Parlay – A single bet that links together two or more wagers; to win the bet, the player must win all the wagers in the parlay. If the player loses one wager, he loses the entire bet. However, if he wins all the wagers in the parlay, they win a higher payoff than if they had placed the bets separately.
Pick or Pick ‘em – A game in which neither team is favored.
Point Spread - The most popular sports bets are based on the point spread, sometimes just called the "Spread." The point spread represents the margin of points in which the favored team must win to "cover the spread." Bets on the point spread are usually offered at 11-to-10 odds. For example, a player must bet $11 to win $10 for a total payout of $21, or $110 to win $100 for a total payout of $210.
Price – The odds or point spread.
Propositions - Proposition bets, or "prop" bets, focus on the outcome of events within a given event. An example of a prop bet is "Which team will score the first point?" Also called an Exotic bet.
Puck Line – In hockey, a spread used instead of the money line.
Push – When the contest ends with no winner or loser for wagering purposes; a tie for wagering purposes.
Round Robin – A series of parlays. For example, a 3-team round robin consists of four total bets- three 2 team parlays (A + B, A + C and B + C) and one 3-team parlay (A + B + C).
Run Down - All the lines for a specific date, sport, time, etc.
Run Line – In baseball, a spread used instead of the money line.
Scouts - Person(s) who waits for what they think is an unusually strong wager. Also known as a "sports player."
Sides – The two teams playing; the underdog and the favorite.
Sharp - A sophisticated or professional gambler.
Sports Book – A physical location that accepts sports bets.
Square - A novice when it comes to sports betting.
Steam - When a line starts to move rapidly. Most "steam games" are games that draw a mass of bettors for some reason.
Store - A bookie or sports betting establishment.
Straight Bet – An individual wager on a game or event that will be determined by a point spread, money line or total.
Straight-up – Winning the game without any regard to the point spread; a money line bet.
Taking the Points - Betting the underdog and its advantage in the pointspread.
Taking the Price - Betting the underdog and accepting money odds.
Teaser – A type of parlay in which the point spread or total of each individual play is adjusted. The price of moving the point spread (teasing) is lower payoff odds on winning wagers.
Ticket - A wager.
Tie – A wager in which no money is lost or won because the teams’ scores were equal to the number of points in the given point spread or total.
Total – The combined amount of runs, points or goals scored by both teams during the game, including overtime.
Totals Bet - A proposition bet in which the bettor speculates that the total score by both teams in a game will be more or less than the line posted by the sportsbook.
Tout - Someone who sells their expertise on sports wagering.
Under – The player bets that the total points scored by two teams will be less than a certain figure.
Underdog – The team perceived to be most likely to lose. Also known as the “dog.”
Value - Getting the best odds on a wagering proposition; the highest possible edge.
Vigorish/Vig - The bookmaker's commission; also known as the "juice."
Wiseguy - A well-informed or knowledgeable handicapper or bettor.