Sports Betting Glossary
Plain-English definitions of 47 sports betting terms; every concept you need to read a sportsbook, understand line movement, and talk like you've been around the action for years.
Bet Type
- Against the Spread (ATS) A team's record relative to the point spread, not the actual win/loss record. The bettor's currency, not the standings'.
- Futures Long-term bets on season-end outcomes; championships, division winners, MVP, win totals.
- Moneyline A straight win/loss bet with no spread. Priced in American odds (-150, +200).
- Over / Under A bet on whether the combined final score will be higher or lower than the posted total. Also called a "total."
- Parlay Multiple bets combined into one wager. Every leg must win. Odds multiply, but so does the vig.
- Point Spread The handicap that turns a lopsided matchup into a 50/50 betting proposition. The dominant NFL/NBA market.
- Prop Bet A bet on individual player or event outcomes; passing yards, anytime TD, first scorer. Not the game result.
- Puck Line NHL's version of a point spread, always set at ±1.5 goals. The hockey equivalent of the MLB run line.
- Run Line MLB's version of a point spread, always set at ±1.5 runs. Lengthens favorite payouts and shortens underdog payouts.
- Teaser A parlay variant that lets you shift spreads or totals in your favor at the cost of much shorter payouts.
- Total The combined score of a game. The over/under is a bet on whether the actual result will exceed it.
- Win Total Season-long over/under on how many regular-season wins a team will record. The cleanest futures market.
Concept
- Action A bet, or wagering activity in general. "I've got action on the Packers tonight" means you have a bet placed.
- Chalk The favorite. "Betting the chalk" means consistently backing the favored side.
- Closing Line The final line right before kickoff. The most efficient version of any market.
- Closing Line Value (CLV) The edge you got vs. where the line closed. The single best leading indicator of long-term betting profitability.
- Cover To win a bet against the spread. "The Packers covered" means they beat the posted spread, not just the game.
- Dog / Underdog The team or fighter expected to lose. Indicated by a plus number on the moneyline (+150, +200, etc.).
- Edge The percentage advantage you believe you have over the implied probability of the line. The whole game is finding edge.
- Expected Value (EV) The average profit or loss per bet over the long run, given the odds and your estimated probability of winning.
- Favorite The team expected to win. Carries a minus sign on the moneyline (-150, -200) and a minus spread (-3, -7).
- Handicap An adjustment added to a contest to level the matchup. The point spread is the most common form.
- Handle The total dollar amount wagered on a market, sport, or sportsbook over a given period.
- Hook The half-point on a spread or total; e.g. -7.5 instead of -7. Eliminates the possibility of a push.
- Implied Probability The win probability suggested by a betting line. The math foundation for finding +EV bets.
- Key Number A margin that occurs disproportionately often. In the NFL, 3 and 7 are the biggest key numbers.
- Line The odds or spread posted by a sportsbook. "The line moved" means the price changed.
- Line Movement How a betting line changes between opening and closing. The single most-watched signal in pro betting.
- Longshot A heavy underdog with very long odds; +500 or longer in pro sports, sometimes thousands of dollars in futures.
- Off the Board A game pulled from the betting menu; usually because of an injury, weather, or breaking news the book hasn't priced.
- Pick'em (PK) A game with no point spread; both sides priced like a moneyline. Sometimes called a "pick."
- Public / Public Bettor Casual recreational bettors. Tends to bet favorites, overs, and primetime games. Sportsbooks make most of their money here.
- Public Money The dollar volume coming from recreational bettors. Distinct from "ticket count"; one whale's bet beats 1,000 squares.
- Push A bet that lands exactly on the spread or total. Stake is refunded.
- Sharp A professional or near-professional bettor whose money the book respects. Sharps move lines.
- Steam / Steam Move Sudden coordinated line movement across multiple sportsbooks. Almost always sharp money.
- Variance The random short-term swing around your true win rate. The reason +EV bettors still have losing weeks.
- Wager / Bet A bet of money on an outcome. The single unit of activity at a sportsbook.
Money
- Bankroll The total amount of money you've set aside for betting. Should be money you can afford to lose, separated from living expenses.
- Hold The percentage of total handle a sportsbook keeps as revenue. Usually 5–8% on standard markets.
- Juice / Vig / Vigorish The sportsbook's commission on a bet. Standard juice is -110; you risk $110 to win $100.
- Unit A standardized bet size; typically 1% of your bankroll. Lets bettors compare results across different stake levels.
- Vigorish (vs. Juice) Older formal name for what most bettors now call "juice." Same concept; the sportsbook's commission baked into the price.
Strategy
- Arbitrage Betting both sides of a market at different books to lock in risk-free profit when the lines disagree enough.
- Fade To bet against. "Fading the public" means betting the opposite of where the majority of money is going.
- Hedge Placing a bet on the opposite side of one you already have to reduce risk or lock in profit.
- Middle / Middling Betting both sides of a market at different lines so a result in between wins both bets.