Sports Gambling Glossary

DEFINITIONS

Action : A wager or bet; having action means having a bet.  In baseball, action has a special meaning: it means the bet counts even if there is a change in starting pitchers.  If there is a pitching change accompanied by an odds change, the bettor with action gets the new odds.  Example: Joe has action on the Clippers game.

Air Move : When a sportsbook changes the line on a game not in reaction to bets they receive, but rather in response to another book (or books) changing their line.  Example: The Stardust moved Duke from -5 to -6.   Noticing this, the Mirage also moved to -6 without taking a single bet on the favorite.

Angles : Using past game results to predict future results.  The assumption is that specific situations that have historically delivered winning results will deliver winning results in the future when the situation arises again.  Specifically, an 'angle' is a more narrow subset of a 'system'.  Example: A certain system says to bet against NCAA basketball tournament teams who have covered two straight ATS (Against the Spread bets).  The subset angle says the results are even better if the team is favored by 10 or more points.

Against the Spread (ATS) : There are two ways of betting sides: the moneyline and against the spread.  To bet against the spread is to make a wager that will be decided by adding points to one team or the other after the game is played.  Also known as 'ATS'.  Example: Ned bet against the spread that the Patriots (-7) would beat the Eagles.  That means the Patriots would have to win by more than 7 points for Ned to win his bet.

Arbitrage : To arbitrage is to make a combination of bets so that if one bet loses another wins.  There is an implication of having an edge, at no or low risk.  The second bet hedges the first.  Arbitrage can also be used as a noun.  Example: Doc looks hard for the best line, and was able to betting the Yankees at -150 at one sportsbook while betting the Red Sox, their opponent, at +152 at another, thus giving himself an arbitrage.

Bad Beat : Tough loss that is not deserved, usually associated with a wager.  Example: Joe suffered through the Dodgers blowing another ninth-inning lead, yet another bad beat.

Bar : To be barred from betting at a sportsbook is to be told that you’re not allowed to place any more bets there.  Some books will bar a player for consistently winning significant amounts; others pride themselves on being willing to take all action.  Example: Jackson was barred from the sportsbook after he took out his frustrations from a losing bet and smashed his beer bottle against the wall.

Barroom Bookie : Your local hometown bookie who offers limited wagering options and limited betting advantages.  Often barroom bookies offer no reduced juice and no deposit bonuses.  For those bettors who have yet to embrace online sportsbooks, a single barroom bookie is often their only gambling option.  Typically a bettor's action is on credit with a barroom bookie, and this private betting is illegal in the U.S.  Example: Frank decided to explore using an online sportsbook because he has grown tired of the high juice and bad attitude of his barroom.

Beard : A person who makes bets for another person, usually because the sportsbook does not want action from that person.   Example: Jess placed a bet for Frank because Frank has won millions over the years betting NBA totals.

Bet : To risk money on the outcome of an event.  Also known as  'wager'; 'gamble'.  Example: Ned made a sports bet on the Mavericks to beat the Spurs.

Bet Limit : Maximum bet size accepted by a sportsbook.  Typically the sportsbook will accept a limit bet, adjust the line, and then be open to accept more action from the same player.  Example: NFL limits at the biggest sportsbooks sometimes reach $50,000 and above.

Betting Exchange : A betting exchange is a form of betting available on the Internet in which two parties wanting to bet opposites of a game are brought together to bet against each other.  The winner pays a commission to the betting exchange, but that amount is usually less than the juice charged by a conventional sportsbook.  Example: With a betting exchange, Joe was able to play the Bulls at the same line but with less juice than any of his five sportsbooks.

Bet to Win : In non-team sports, a wager on an individual to win an event.  Similar to a future bet, but in this case the bet is placed much closer to the start of the event.  Example: After studying up on the British Open, Doc settled on Tiger Woods and placed a ‘Bet to Win’ wager on him.

Board : A board is a listing of bets available in a sportsbook.  Example: Due to a key injury, the game was taken off the board.

Book : A person or company that accepts bets.  Example: Jess and Ned bet at the same book, but Jess bets at the online book while Ned goes to the actual book in the casino.

Bookie : A person who takes bets, typically used to refer to an illegal bookmaker.  Example: Joe has no need to go deal with sportsbooks. Instead he bets with the bookie down at the corner bar. .

Bookmaker : A person or company that accepts bets.  Example: Jess and Ned bet at the same bookmaker.

Bonus Hustler or Bonus Whore : A bonus hustler is someone who has opened an offshore betting account for the sole purpose of obtaining bonuses and has no intention to gamble long-term.  Example: Frank is not ashamed of being a bonus whore, looking for the best bonus offers then placing minimal bets and cashing out quickly.

Buck : A buck is $100.  Example: Joe bet three bucks on the Giants to beat the Dodgers.

Chalk : The favorite.  Example: Joe cannot resist betting big chalk any chance he gets.

Cherry Pick : Betting only those select games on which you think you have a big edge.  Example: Ned is a cherry picker, sometimes not betting for days at a time.

Churn : The betting and re-betting of money.  With each bet, the money dwindles due to the relentless effect of the juice sportsbooks charge.  Example: Doc won his bet and then churned the money by playing the Sunday night game.

Circled : A game on which the book or bookie has placed a lowered maximum bet limit, possibly due to some uncertainties that make the game difficult to predict like injuries, weather conditions, etc.  Example: Frank wanted to put $1000 on the Jets but couldn’t due to Chad Pennington’s shoulder injury.  The game was circled, so he could only bet $500.

Cover : To win against the spread (ATS).  Example: The Eagles may have lost the Super Bowl to the Patriots but they covered the point spread.  The point spread was 7 and the Eagles only lost by 4.

Credit Betting : Betting without needing to have up front money on account to place a wager.  If you win, you are paid off and if you lose, you are billed.  Standard with barroom bookies.  Much less common with online sportsbooks.  The alternative is Post-up Betting.  Example: Frank has grown comfortable with betting on credit because he only has to pay when he loses.

Data Mining : Data mining involves sorting through a large volume of data (usually statistics), searching for profitable situations to bet on in the future.  Example: Doc data mines through years of stats before every NFL season.

Degenerate : A person with a compulsive gambling problem.  Example: Jess bets every day, but not like a degenerate, rather for fun.

Dime : A dime is $1000.  Example: Frank put a dime on the Ladybugs to win the MLS Cup.         

Dime Line : Different than the standard 20-cent line, the 'dime line' is sometimes offered in baseball by player friendly sportsbooks.  The dime line charges only half the juice of standard football/basketball bets.  A -200 favorite would usually make the underdog +180 on a 20-cent line, but with the dime line the underdog would be +190.  Also known as '10-cent line'.  Example: Doc likes betting on baseball because he can make an extra $10 on his underdog winners for every $100 he wagers with the dime line.

Dog/Fav Money Line Differential : The difference in money lines between the favorite's lay price and underdog's take back.  In direct correlation to the type of line you are getting (i.e. with a 20-cent line, the favorite would be -200 and the underdog +180).  In baseball, the better online sportsbooks offer a dime line, while the less player friendly books stick with the higher juiced 20 cent line.  Generally, the smaller the differential, the better line value you are getting.  Example: When researching boxing lines at different sportsbooks, it’s important to factor in the dog/fav money line differential to make sure you get the best price on your wager.

Early Line : The first line posted for a game.  Example: Frank bet the early line the night before when it was first released.

Edge : The belief that you have an advantage when placing a bet.  Example: Doc won't place a bet unless he feels he has an edge.

Even Money : Betting a dollar to win a dollar without laying any juice.  Even money is also read as EV or as PK.  Example: Joe bet $100 and collected $200 ($100 bet plus $100 won) since it was an even money wager.

Exotic : A bet other than the more conventional side or total bets.  To learn more about exotics, check out our Overview of Sports Gambling Types and Fun with Propositions.  Example: Jackson enjoys betting exotics, especially when he has no opinion on the side or total.

Fade : To bet against.  Example: Doc started fading his brother’s opinion after three straight losing weeks.

Favorite : The team expected to win.  Example: Because the Heat have a much better record than the Bobcats, the Heat are big favorites to win the game.

Field : The field is a group of the entrants whose odds are not individually listed to win an event, usually longshots.  These longshots are grouped together so that a bettor wins his field bet if any of the longshots win.  Events with a large number of entrants, like golf or NASCAR, most often offer field betting.  Example: Joe didn’t feel strongly about any of the named entrants, so he bet the field.

Flea : A small bettor who wants something for nothing.  Example: Ned bet $2 on the Yankees and wanted 10 drink tickets. What a flea!

Front Running : Following betting lines on a computer, and betting in the same direction of line moves.  If a front runner bets quickly, he can get the original number at a slow sportsbook.  Example: Doc saw that the line at Bally’s moved from -6 to -7 but the line was still -6 at the MGM so he front ran it there.

Futures : Bets placed far in advance of the sports event.  Example: During the preseason Joe placed a futures bet on the Cowboys to win the Super Bowl.

Gamble : To risk money on the outcome of an event.  Also known as 'wager'; 'bet'.  Example: Ned gambled that the Mavericks could beat the Spurs.

Group Matchup : Another ‘matchup betting’ option particularly popular in golf and auto-racing events like NASCAR, where you can select how one competitor will finish compared to other competitors in the group.  Example: Ned bet on Tony Stewart to finish higher than Jeff Gordon, Jimmie Johnson and Bobby Labonte in a NASCAR group matchup.

Handicap : To handicap is to analyze a contest and then to predict the outcome.  Example: Jackson handicaps the entire card at Santa Anita every Sunday based on the horses' histories and health.

Handicapper : A person who handicaps.  Example: Frank prides himself on being an insightful basketball handicapper because his knowledge of past trends helps him pick winners in current games.

Handle : The total amount of money taken by sportsbooks from placed bets. Example: The handle from the Super Bowl was over a billion dollars.

Hedge : To bet the opposite of an original bet to offset the possible loss on the original action.  Hedge can be used as a noun or a verb.
Example: Hedging is usually done for defensive purposes, like if you've already hit the first 10 games on an 11-team parlay.  The hedge would be betting the opposite of the 11th team you took in the original parlay bet.  That way, if the 11th team loses and you lose your parlay, you'll still win money on the ‘hedge’ bet to make up for it.

Hook : The half point in a point spread.  Example: Joe had the Colts at -3 ½ and they won 27-24, losing by the hook.

If Bet : Allows you to link together two or more individual bets, similar to a parlay. However, unlike a parlay, it is not an all or nothing bet.  You are basically instructing the sportsbook that ‘if’ the first bet wins, then place a second bet on this other proposition.  If your first bet wins, the sportsbook will place your second bet.  If your first bet loses, there will be no second bet.  This type of bet is primarily used as a form of money management.  What can be initially confusing is the fact that the starting times of the games bet on is irrelevant.  You can place a two team ‘if bet’ in which a game at 5:00 p.m. is your first bet, and if you win that game, your second bet is a game already played early in the day.  Example: Jackson placed a two team ‘if bet’ on the Raiders NFL football game and the Seahawks football game.  He bet $20 on the Raiders game.  If he wins that bet, the sportsbook will place a $40 bet for him on the Seahawks game.

Juice : The amount charged by the bookmaker for taking bets.  Also known as 'vig'; 'vigorish'.  Example: The typical juice on a bet is -110 which means the bettor must risk $110 to win $100.

Laying : ‘Laying odds’ means the amount of money you are risking is more than what you will collect for winning.  In such situations, the bettor believes the likelihood of his outcome is greater than 50%.  ‘Laying points’ means betting the point spread favorite.  The opposite of laying is ‘taking’ with the underdog.  Example: Jackson used to love laying the big price on Mike Tyson when he was in his prime.

Line : Used to even the odds of a particular sporting event.  Each team has points either added to its final score or subtracted from its final score, to determine if the bet is a winner.  Example: The sportsbook set the point spread at 7 for the Patriots vs. Eagles in the Super Bowl.  The Patriots are favored so they will be listed with a -7.  The Eagles will be listed with a +7. In this case, if Leo bets on the Patriots in the Super Bowl, he does not win the bet since after deducting the 7 points from the Patriot's score, the final score would appear as though the Eagles actually won.  If the Patriots had won by more than seven points, then Leo would have won his bet.

Longshot : A large underdog who is not expected to win.  Example: Some of the biggest bets Frank ever won were on longshots. Because they weren't expected to win, the pay outs were huge.

Matchup Betting : A bet based upon one individual competing head-to-head against another individual or a group of individuals (group matchups).  The matchup can be literally player against player on the field (like in a tennis match) or the matchup can be an artificial pairing (like a golf matchups, where all players are trying to win the tournament, but players can be artificially ‘matched up’ against each other for betting purposes.  Odds for matchup betting are typically posted using a money line.  Example: Jackson bet on Tiger Woods at -200 to finish higher than Ernie Els in a British Open matchup bet.  Tiger didn't win the tournament, but Jackson won his matchup bet when Tiger finished 10th compared to Ernie Els, who didn't even make the cut.

Maverick Line : Line offered by a sportsbook that is significantly different from the line carried by other sportsbooks.  The advantage for the sportsbook is the maverick line will certainly receive a great deal of action , but it will be one-sided action, thus creating exposure to a big win by bettors.  Example: All sportsbooks had the Lakers at -7 vs. the Kings - except for the Mirage, who being very confident in their lines, had the Lakers at -8.5.  All bettors who liked the Kings took the +8.5 at the Mirage, while very few were willing to lay the 8.5, giving the Mirage a lot of action, but one-sided action.

Middle : To have separate bets on competing teams and for there to be the possibility of winning both bets.  Can also apply to total wagers.  Also known as 'arbitrage'.  Example: If you bet the underdog +4 1/2 and the favorite - 3 1/2 and the favorite wins by 4, you've middled the book.

Money Line : Odds strictly on the straight-up game outcome with no consideration for a point spread.  More money must be risked to bet the better team; less money on the weaker team.  Example: The money line is -200 on New England since they have a better chance to win the game.  That means a bettor would have to wager $200 to win $100.

Neutral Site : The site of a sporting event where neither team has home-field advantage.  Example: The NCAA Basketball Tournament is played at neutral sites.

Nickel : A nickel is $500.  Typically used when referring to a size of a bet.  A big nickel is $5000.  Example: Frank bets three nickels on the games he really likes.

Odds : The likelihood of an outcome occurring stated in number form.  The ‘straight up’ outcome is typically the basis of the wager without regard to a point spread.  Odds are often stated as a moneyline.  Example: Jackson got good odds at a -500 money line on Mike Tyson to win the fight but he likes his 10 to 1 odds on the Pats to win the Super Bowl even better.

Oddsmaker : An individual who creates the opening line, and then possibly later adjusts the line, on a sporting event.  Example: The oddsmaker sent out Denver -3 to the sportsbooks as the opening line for the Denver-Chicago NFL game.

Off or Off the Board : If a game is off or off the board, the sportsbook is no longer taking bets on it.  This could be because the game has already started, or if there is a major uncertainty as to the weather conditions or an injury to a key player.  Example: Joe couldn't bet the game since it was off the board due to an earlier start time.

Offshore Sportsbook : A sportsbook accessed online over the Internet that offers several betting advantages due to convenience and competitive lines.  Also known as 'online sportsbook'.  Example: Joe's offshore sportsbook has its offices in Costa Rica.  Joe doesn't know exactly where that is, but he loves playing with offshore sportsbooks since they're accessible 24 hours a day, 7 days a week.

Online Sportsbook : A sportsbook that can be accessed online, typically located outside the United States (called ‘offshore’).  Offshore sportsbooks offer several advantages over local bookies, chief among them convenience and competitive offerings.  Also known as 'offshore sportsbook'.  Example: Joe enjoys betting with his online sportsbooks, especially since he can play 24 hours a day, 7 days a week.

Opening Line : The earliest or first line posted for a particular sporting event. Example: The opening line was different than the current line since as more people bet and a player got injured the odds changed.

Over : To bet that the final combined score of both teams in a game will exceed the Over/Under total posted for betting purposes.  Example: The final score was 110 points, going over the total of 90 points.  Anybody who bet over on the Over/Under bet won.

Overlay : When the odds on a proposition are in favor of the bettor rather than the house.   Example: Certain jackpot based slot machines can offer overlays once the jackpot gets high enough.

Over/Under Bet : Over/Under is a bet on the combined scores or total points scored by both teams in a game.  Example: Doc doesn't like betting sides, but he believes there is great value with Over/Under bets.  The Over/Under line on the Celtics game is 175, but Doc believes there will be lots of scoring, so he bets the ‘over’.

Parlay : A parlay is a single bet that links together two or more individual wagers and is dependent on all of those wagers winning together.  The benefit of the parlay is that there are much higher payoffs than placing each individual bet separately since the difficulty of hitting it is much higher.  If any of the bets in the parlay loses, the entire parlay loses.  Example: Joe placed a three-team NFL parlay on the Lions, Bears and Bengals.  If any one of those teams fail to cover the spread, Joe loses his parlay bet.  But if all three teams beat the spread, Joe gets paid $600 for every $100 bet.

Parlay Card : A set of sides, totals, and prop bets printed on a card.  The numbers on the parlay card apply only to bets on the card and could be different from bets listed on the board.  You usually would need to select at least three items if you want to make a bet on a parlay card.  Example: Jackson chose to bet using a parlay card since there were better point spreads offered by it on his teams.

Past Post : To make a bet after a sporting event has started.  Term originated from ‘post time’ for horse racing; in years past the horse racing results from far away tracks would be reported by telephone so the possibility existed for past posting if the results were reported with any delay.  Example: Ned tried to bet past post, but the books are too sharp for that these days.

Pick : Any bet recommended by a handicapper.  Example: Doc made the football bet based on a pick for the underdog team he saw on the Internet.

Point Spread : Used to even the odds of a particular sporting event.  Each team has points either added to its score, or subtracted from its score, to determine if the bet is a winner.  Example: The sportsbook set the point spread at 7 for the Patriots vs. Eagles in the Super Bowl.  The Patriots are favored so they will be listed with a -7.  The Eagles will be listed with a +7.  If Leo bets on the Patriots, then he does not win his bet since after deducting 7 points from the Patriots final score, it would appear that the Eagles won.  If the Patriots won by more than 7 points, then Leo would win his bet.

Post-up Betting : Betting from an already funded account.  Money is deposited into an account first, then bets can be made from the balance.  Standard with online sportsbooks.  Much less common with barroom bookies.  The alternative is Credit Betting.  Example: Joe does post-up betting with three different online sportsbooks, getting a cash deposit bonus with every account deposit.

Power Ratings : Numbers that handicappers assign to teams to estimate how likely one team is to beat the other and/or by how many points.  Example: The power rankings say the favorite should win by 10.  Since they are only laying 5, Doc is betting the favorite big.

Press : To bet a bigger amount than usual - typically chasing after losses.  Example: After losing $100 on the 76ers, Jackson put $200 on them the next time around – he’s pressing!

Price : See odds.

Proposition Bets or Prop Bets : Additional, more exotic betting options on major sporting events, such as which player will score first.  Example: Jess got 8/1 odds on Troy Brown to score the first touchdown in the Super Bowl.

Public Money : Betting action coming from unsophisticated bettors or squares.  Public bettors possess no special information, but rather bet based upon information available in newspapers and TV preview shows.  Example: Year in and year out the public money is on the New York Yankees to win the World Series.

Puppy : The side or team expected to lose.  Gets points on the point spread.  Also known as 'underdog'.  Example: The Browns have lost 6 in a row and are +10 point puppies against the Ravens.

Push : A tie against the spread.  On straight bets the result is ‘no action’.  All monies are returned as if the bet had never been made.  On parlay cards typically the number of teams in the parlay is lowered by one to account for the push.  Example: Duke was favored by 10 and won by 10, pushing the game. Bob's six-team parlay included Duke, so it became a 5-teamer.

Revenge Game: A team playing an opponent who beat the team in their previous matchup - thus the team is ‘revenging’ the loss.  Example: The Lions have a revenge game with the Bears this Sunday after Chicago crushed them 38-6 earlier this season.

Reverse Teaser : A parlay in which the line is moved to the bettor's disadvantage in exchange for a bigger payoff.  Example: It's true the Seahawks were +10 on the standard line compared to only +3 on the 7-point reverse tease - but the increased payoff made the adjustment worthwhile in Doc's estimation.

Round Robin : A series of parlays.  A three-team Round Robin consists of one three-team parlay and three two-team parlays.  Example: Joe likes teams A,B,C – with a Round Robin he has a three-teamer with ABC, and two-teamers with AB, AC, and BC.

Rundown : An update, often verbal, of the schedule of games and their lines.  Example: Ned hates sitting on the phone as his old-time bookie reads off that day's rundown.

Run Line : The baseball version of betting against the spread.  The run line adds 1.5 runs to the underdog (+1.5) or subtracts 1.5 runs from the favorite(-1.5).  Example: When betting on a low-scoring team, it’s dangerous to lay the run line with the favorite because your team must win by 2 runs to cash.

Sharp or Sharpie : A player who has an edge due to his superior knowledge.  Example: Most sportsbooks shy away from taking too much action from sharps.

Side : To bet on a single team to win a game against the spread (ATS).  Example: Doc is old school, sticking to side bets only.  No total bets or props for him.

Smart Money : Money wagered by sharps.  Example: Smart money moves the line quicker than public money.

Sportsbook : A person or company that accepts bets.  Example: Jess and Ned bet at the same sportsbook, but Jess uses the online book while Ned goes into the book at the casino.

Square : An unsophisticated gambler who uses the same information in the same way as everybody else does.  Example: Joe handicaps from the USA Today, making him a square.

Straight-up : Winning straight-up means simply winning on the scoreboard without any regard to the point spread.  Example: The favored Pats won straight-up but they did not cover.

Syndicate : A group of people making a combined effort to win money betting sports.  Example: Some of the most successful bettors work together in syndicates.

Systems : Using past game results to predict future results.  A 'system' considers all of a league's games with no regard to what teams are playing.  The assumption is that specific situations that have historically delivered winning results will deliver winning results in the future when the situation arises again.  Example: Doc's favorite system says to bet against NCAA basketball tournament teams who have covered two straight ATS (against the spread) bets.

Teaser : Similar to a parlay, a teaser bet is a single bet that links together two or more individual wagers but is different in that it also allows you to adjust the point spread of each individual wager.  In exchange for the points, you will get less of a return on your bet.  Each of the individual wagers must win or the bet is a loss.  Example: Joe placed a three-team 6-point teaser on the Bucs, Raiders and Rams.  If any one of those team wagers lose, after applying an extra six points in Joe's favor, Joe loses his teaser bet.

Total : The total is a number set by a sportsbook for total points to be scored by both teams during a game.  Betting overs or unders is referred to as betting totals.  Example: Jess has no idea which team will win in the NBA game, but thinks there will be lots of points scored.  The Total the sportsbook has posted is only 75, so she's making a total bet on the over.

Tout : An individual who sells his opinions or picks on sports or horse wagering.  Also called handicapper. 

Trends : Using past game results to predict future results.  A trend considers only games played by a given team.  The assumption is that specific team situations that have historically delivered winning results will deliver winning results in the future when the situation arises again.  Example: Doc's favorite trend says to bet against the Chiefs the week after they play the Raiders, the reason being the Chiefs try so hard against the Raiders they have nothing left for the next opponent.

Under : To bet that the final combined score of both teams in a game will fall short of the Over/Under total posted for betting purposes.  Example: The final score was 95 total points, going under the total of 190 points.

Underdog : The side or team expected to lose.  Gets points on the point spread.  Also known as 'puppy'.  Example: The Browns have lost 6 in a row and are +10 point underdogs against the Ravens.

Upset : A straight-up win for an underdog against a favored opponent.  Example: The Bears were 14-point underdogs but pulled off an upset by beating the Packers 35-10.

Vig or Vigorish : The bookmaker's commission (same as Juice ).  Also known as 'juice'.  Example: The typical vig on a bet is -110 which means the bettor must risk $110 to win $100.

Wager : To risk money on the outcome of an event.  Also known as  'bet', 'gamble'.  Example: Ned made a sports wager on the Mavericks to beat the Spurs.

Wiseguy : A successful bettor or handicapper whose insight comes from knowledgeable connections rather than his own handicapping.  Example: Some wiseguys are on the phone all day collecting info from their trusted sources.

By RJ Bell, founder of Pregame.com