Difference between revisions of "Glossary of sportsbetting terms"
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|[[ATS]] | |[[ATS]] | ||
|Abbreviation for [[against the spread]]. | |Abbreviation for [[against the spread]]. | ||
+ | |- | ||
+ | |[[Backdoor cover]] | ||
+ | |When a late scoring play(s) causes a team to cover the [[point spread]]. Most commonly used to describe [[underdog]] [[spread]]s. | ||
|- | |- | ||
|[[Bad beat]] | |[[Bad beat]] | ||
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|[[Chalk]] | |[[Chalk]] | ||
|The team that is [[favorite|favored]] to win a given match. | |The team that is [[favorite|favored]] to win a given match. | ||
+ | |- | ||
+ | |[[Cleaned]] | ||
+ | |Losing one's entire [[bankroll]]. | ||
|- | |- | ||
|[[Closing line]] | |[[Closing line]] | ||
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|[[Commission]] | |[[Commission]] | ||
|Bookmaker margins applied to betting markets to grant house advantage. Also known as [[vig]]. | |Bookmaker margins applied to betting markets to grant house advantage. Also known as [[vig]]. | ||
+ | |- | ||
+ | |[[Contrarian]] | ||
+ | |An individual who wagers against [[public]] betting trends. | ||
|- | |- | ||
|[[Cover]] | |[[Cover]] | ||
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|[[Dog]] | |[[Dog]] | ||
|The underdog of a match. The team that is not favored to win. | |The underdog of a match. The team that is not favored to win. | ||
+ | |- | ||
+ | |[[Double chance]] | ||
+ | |Common market when betting on soccer. Bettors choose two results between home team, road team, and draw. | ||
|- | |- | ||
|[[Edge]] | |[[Edge]] | ||
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|[[Expected value]] | |[[Expected value]] | ||
|The amount of money a bettor should expect to net if they were to place a given bet an infinite amount of times. May also refer to the true value of a given betting market. | |The amount of money a bettor should expect to net if they were to place a given bet an infinite amount of times. May also refer to the true value of a given betting market. | ||
+ | |- | ||
+ | |[[Fade]] | ||
+ | |To bet against. | ||
|- | |- | ||
|[[Favorite]] | |[[Favorite]] | ||
|The side that the betting market views as being the probable winner. The betting odds will reflect how much that side is favored. | |The side that the betting market views as being the probable winner. The betting odds will reflect how much that side is favored. | ||
+ | |- | ||
+ | |[[Flat betting]] | ||
+ | |Risking the same amount for each bet. Could be a fixed amount ($100) or a percentage of a player's current [[bankroll]] (1%). | ||
|- | |- | ||
|[[Fractional odds]] | |[[Fractional odds]] | ||
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|[[Hedge]] | |[[Hedge]] | ||
|A bet placed on the other side of | |A bet placed on the other side of | ||
+ | |- | ||
+ | |[[Hook]] | ||
+ | |Half a point. Used when describing football and basketball [[point spread]]s and [[total]]s. | ||
+ | |- | ||
+ | |[[Implied probability]] | ||
+ | |Conversion of betting odds into a percentage which includes the bookmaker's commission. Reveals how often one would need to win a bet with those odds to be profitable. | ||
|- | |- | ||
|[[Juice]] | |[[Juice]] | ||
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|[[Multiple]] | |[[Multiple]] | ||
|European term for a [[parlay]] bet. | |European term for a [[parlay]] bet. | ||
+ | |- | ||
+ | |[[Mush]] | ||
+ | |A bettor who is viewed as being bad luck. | ||
|- | |- | ||
|[[Nickel]] | |[[Nickel]] | ||
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|[[Off the board]] | |[[Off the board]] | ||
|A market or match that a sportsbook is not currently accepting bets on. Often due to a sudden player injury report. Abbreviated [[OTB]]. | |A market or match that a sportsbook is not currently accepting bets on. Often due to a sudden player injury report. Abbreviated [[OTB]]. | ||
+ | |- | ||
+ | |[[Opening line]] | ||
+ | |The earliest [[point spread]] available for a given match. | ||
|- | |- | ||
|[[OTB]] | |[[OTB]] | ||
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|[[Public]] | |[[Public]] | ||
|Term used to describe casual or recreational gamblers. | |Term used to describe casual or recreational gamblers. | ||
+ | |- | ||
+ | |[[Punter]] | ||
+ | |A sports bettor. Used in Europe and Australia. | ||
|- | |- | ||
|[[Push]] | |[[Push]] | ||
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|[[Straight bet]] | |[[Straight bet]] | ||
|Placing a single bet on one individual outcome. | |Placing a single bet on one individual outcome. | ||
+ | |- | ||
+ | |[[Sweat]] | ||
+ | |Nervously watching a game with action, either because of a large risk or close outcome late in the match. | ||
|- | |- | ||
|[[Taking points]] | |[[Taking points]] | ||
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|- | |- | ||
|[[Teaser]] | |[[Teaser]] | ||
− | |A [[parlay]] bet where [[spread]]s and [[total]]s are | + | |A [[parlay]] bet where [[spread]]s and [[total]]s are adjusted to be more favorable. |
|- | |- | ||
|[[Ten cent line]] | |[[Ten cent line]] | ||
− | | | + | |A betting line with a 10-cent margin between the odds of the favorite and underdog. (example: -140 vs. +130) |
+ | |- | ||
+ | |[[Ticket]] | ||
+ | |An individual sports bet. | ||
+ | |- | ||
+ | |[[Tip]] | ||
+ | |A bet suggestion provided by a [[tipster]]. Primarily used in Europe. | ||
+ | |- | ||
+ | |[[Tipster]] | ||
+ | |Someone who shares betting picks. Primarily used in Europe. | ||
|- | |- | ||
|[[Total]] | |[[Total]] | ||
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|[[Tout]] | |[[Tout]] | ||
|Someone who sells picks or betting information. Usually a scammer. | |Someone who sells picks or betting information. Usually a scammer. | ||
+ | |- | ||
+ | |[[True odds]] | ||
+ | |The real odds of an event occurring. Bookmaker commission and public perception are removed. | ||
|- | |- | ||
|[[Under]] | |[[Under]] | ||
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|[[Upset]] | |[[Upset]] | ||
|When a large [[underdog]] wins the match outright. | |When a large [[underdog]] wins the match outright. | ||
+ | |- | ||
+ | |[[Value]] | ||
+ | |A bet that has a higher chance of occurring than the [[implied probability]] derived from the betting odds. | ||
+ | |- | ||
+ | |[[Vig]] | ||
+ | |Abbreviation for [[vigorish]]. | ||
+ | |- | ||
+ | |[[Vigorish]] | ||
+ | |Bookmaker commission applied to betting markets to generate house advantage. Used in North America. | ||
|} | |} | ||
</onlyinclude> | </onlyinclude> |
Revision as of 18:14, 31 December 2019
This page contains a list of common sportsbetting terms, definitions, and abbreviations. It should be noted that most terms are not universal and only used in certain countries.
Contents
Glossary
A list of sportsbetting terms and their definitions. Visit each term's respective wiki page for a detailed explanation and examples if required.
Term | Definition |
Accumulator | A betting ticket where multiple bets are combined. Each individual bet selection must win for the accumulator to win. Also known as a parlay or multiple. |
Action | |
Against the spread | A bet on the point spread. Also a team's record when factoring in each game's respective spread. |
Alternate line | Spreads or totals that are higher or lower than the standard market. These will have odds that are shorter or longer than -110. |
American odds | A format for displaying odds based on a $100 base figure. Popular in the United States. |
Arbitrage | Using the difference of odds offered at multiple sportsbooks to bet on both sides of a market to guarantee profit. |
Asian handicap | Positive or negative goal handicap applied to each side of a soccer match based on each team's perceived strength. |
ATS | Abbreviation for against the spread. |
Backdoor cover | When a late scoring play(s) causes a team to cover the point spread. Most commonly used to describe underdog spreads. |
Bad beat | Losing a bet that appeared to be a certain winner. |
Bonus | Sign up rewards offered by betting sites to attract new customers. |
Book | Abbreviation for bookmaker. |
Bookie | Alternate version of bookmaker. |
Buying points | Obtaining a more favorable spread or total by taking lower payout odds. |
Bookmaker | An individual, establishment, or website that accepts sports bets. |
Buck | A $100 bet. |
Canadian line | A hockey spread. Also known as a puckline. |
Chasing | Trying to win back lost money. Normally occurs by betting on late games. |
Chalk | The team that is favored to win a given match. |
Cleaned | Losing one's entire bankroll. |
Closing line | The final widely available line offered at the time the event begins. |
Commission | Bookmaker margins applied to betting markets to grant house advantage. Also known as vig. |
Contrarian | An individual who wagers against public betting trends. |
Cover | A team covering their point spread. Either a favorite winning by more points than the spread, or an underdog losing by less. |
Dart | A randomly placed bet without any research. |
Decimal odds | An odds format where odds are displayed with a decimal number. Popular in Europe. |
Dime | A $1,000 bet. |
Dime line | A ten cent line; betting lines with a 10-cent margin between the odds of the favorite and underdog. (example: -140 vs. +130) |
Dog | The underdog of a match. The team that is not favored to win. |
Double chance | Common market when betting on soccer. Bettors choose two results between home team, road team, and draw. |
Edge | One's betting advantage over a given market. |
Even money | A bet that would yield a 1:1 return on initial investment. A $100 risk provides $100 profit. |
Expected value | The amount of money a bettor should expect to net if they were to place a given bet an infinite amount of times. May also refer to the true value of a given betting market. |
Fade | To bet against. |
Favorite | The side that the betting market views as being the probable winner. The betting odds will reflect how much that side is favored. |
Flat betting | Risking the same amount for each bet. Could be a fixed amount ($100) or a percentage of a player's current bankroll (1%). |
Fractional odds | Betting odds displayed in fractional form, such as league or championship winner. |
Future | Odds for an event that will take place in the coming weeks or months. |
Grand salami | A bet on the combined goals/runs scored for every game that day. Examples: Home teams -2.5 runs or Total goals scored under 75.5. |
Handicap | A number set by oddsmakers to counter the perceived difference in competing team's skill level. Also known as spread. |
Handicapper | A bettor who forecasts the true outcomes of sports matches through math projections in order determine market advantage and bet accordingly. |
Handle | The amount of action a sportsbook has taken on a given betting market. |
Hedge | A bet placed on the other side of |
Hook | Half a point. Used when describing football and basketball point spreads and totals. |
Implied probability | Conversion of betting odds into a percentage which includes the bookmaker's commission. Reveals how often one would need to win a bet with those odds to be profitable. |
Juice | Betting margins or commission applied to a market by a bookmaker |
Kelly Criterion | Bankroll management technique which sizes bets according to perceived market advantage. |
Laying points | Placing a bet on the favorite against the spread. |
Limit | The maximum bet size a sportsbook will take on a given market. |
Line | Another word for odds. Commonly used in the US to describe a match's point spread. |
Livebetting | Wagering on a match that is already in progress. Livebetting is offered by many sportsbooks for popular events. |
Lock | A bet that a sportsbettor believes is guaranteed to win. |
Longshot | A bet that has a small probability of winning but yields a large potential return. |
Margin | The commission a bookmaker applies to their lines to generate house advantage. |
Middle | Using line movement (often as the match is progressing) to bet against an earlier wager to guarantee all outcomes. |
Moneyline | A bet on which team will win a match outright. Abbreviated ML. |
Moose | Another term for a bad beat; a bet that appeared to be a certain winner but lost suddenly. |
Multiple | European term for a parlay bet. |
Mush | A bettor who is viewed as being bad luck. |
Nickel | A $500 bet. |
Odds | A numerical expression used to denote the return from winning a given bet. |
Odds format | Different ways of displaying betting odds. The most common formats are American, Decimal, and Fractional. |
Oddsmaker | An individual responsible for setting lines at a sportsbook. |
Off the board | A market or match that a sportsbook is not currently accepting bets on. Often due to a sudden player injury report. Abbreviated OTB. |
Opening line | The earliest point spread available for a given match. |
OTB | Acronym for off the board. |
Over | A bet on the combined points or goals scored by both teams being greater than the total. |
Parlay | Combining multiple bets together on one ticket for a larger payout. Each individual bet must win. |
Payout | The total return from winning a bet. Includes both initial risk and profit. |
Pick | An event where the point spread is set at 0. Also called pick'em. |
Point spread | A numerical expression used to represent the perceived difference in skill between two competing teams. The favorite has a negative spread (-5.5) and the underdog has an equal but positive spread (+5.5). |
Price | The odds or line of a given match. |
Prop bet | A bet on a market other than a moneyline, spread, or total. |
Public | Term used to describe casual or recreational gamblers. |
Punter | A sports bettor. Used in Europe and Australia. |
Push | A bet that ends in a draw with the initial risk refunded. For example, a team with a -14 spread winning by exactly 14 points. |
Run line | A point spread for a baseball game. Run lines are usually set at 1.5 due to the low scoring nature of the sport. |
Selling points | Betting on a spread or total that has a lower chance of winning but higher payout odds. |
Sharp | A knowledgeable sports-bettor who bets based on his or her perceived advantage over a given market. |
Sportsbook | A place that accepts sports bets. Either in-person at a casino or online at a betting site. |
Spread | A numerical expression used to represent the perceived difference in skill between two competing teams. The favorite has a negative spread (-5.5) and the underdog has an equal but positive spread (+5.5). |
Square | A novice sports bettor. Squares frequently bet on "obvious" markets such as popular favorites and overs. |
Steam | A large amount of wagers made quickly on one side of a betting market that moves the line. |
Straight bet | Placing a single bet on one individual outcome. |
Sweat | Nervously watching a game with action, either because of a large risk or close outcome late in the match. |
Taking points | Betting on the underdog's point spread. |
Teaser | A parlay bet where spreads and totals are adjusted to be more favorable. |
Ten cent line | A betting line with a 10-cent margin between the odds of the favorite and underdog. (example: -140 vs. +130) |
Ticket | An individual sports bet. |
Tip | A bet suggestion provided by a tipster. Primarily used in Europe. |
Tipster | Someone who shares betting picks. Primarily used in Europe. |
Total | A bet placed on the combined number of points or goals scored by both teams. Sometimes called over/under and O/U. |
Tout | Someone who sells picks or betting information. Usually a scammer. |
True odds | The real odds of an event occurring. Bookmaker commission and public perception are removed. |
Under | A bet on the combined points or goals scored by both teams being less than the total. |
Underdog | The side of a given market that is perceived as having a lower chance of winning. |
Upset | When a large underdog wins the match outright. |
Value | A bet that has a higher chance of occurring than the implied probability derived from the betting odds. |
Vig | Abbreviation for vigorish. |
Vigorish | Bookmaker commission applied to betting markets to generate house advantage. Used in North America. |
Abbreviations
A list of common sportsbetting abbreviations and their associated meaning.
Abbreviation | Associated Term |
ATS | Against the spread |
EV | Expected value |
ML | Moneyline |
O | Over |
O/U | Over/Under |
PL | Puckline |
RL | Runline |
TT | Team total |
U | Under or Unit |
WTD | Week-to-date |
YTD | Year-to-date |