GAMBLING TERMS
ACTION: Any live wagering option or the total amount wagered on a specific event. Bookmakers accept action on all posted betting odds.
ADDED GAME: Appear on betting boards after main lists are posted. They are common in college football and mainly appear due to public demand. An added game may also be a postponed match, like a rainout in baseball, from the previous day.
AGAINST THE SPREAD ODDS (ATS) are designed to create equal action on both sides of a competition. Bettors may have a choice between Las Vegas as a -3.5 point ATS favorite at home versus Denver as a +3.5 point underdog on the road.
BACKDOOR COVER: Occurs when a score helps bettors cover a spread bet but doesn’t affect the game winner. If Baltimore is up 35-21, as a -10 point favorite, Cleveland bettors earn a backdoor cover if the Browns score a late touchdown to make the final score 35-28 in favor of the Ravens.
BAD BEAT: Players experience a bad beat when a wager is on the verge of winning but then becomes a losing ticket. A bad beat will often occur when points are scored late in a match. Players who bet on game totals, point spreads and money lines will experience a bad beat from time to time.
BANKROLL: Money set aside, or deposited into an account, that is used for betting. A player’s bankroll increases with each winning wager and decreases with each losing bet.
BEARD: A bet runner who places wagers for professional bettors so they can conceal their identity from bookmakers.
BET: Any wager involving money wagered at a sportsbook, casino, racebook or poker room.
BOOK: Short for a bookmaker or sportsbook that posts odds and accepts bets.
BOOKIE: Short for a bookmaker.
BOOKMAKER: A licensed individual who sets daily betting odds and accepts bets. Also known as a linemaker.
CHALK: Another term for favorite. Los Angeles is the chalk side if the Lakers are a -3 point favorite over the Rockets.
COVER/COVERING THE SPREAD: Any bet where a favorite wins and the final score exceeds the point spread. New England winning 32-21 over Miami means the Patriots would cover a -10 point spread. If the Pats win 29-21 they don’t cover the spread and bets are graded as losing wagers.
DOG: Short for underdog, a dog is perceived as the least likely side to win and is tagged with plus pricing. Atlanta would be a dog if the Braves moneyline is set at +125 and the Astros are posted with -120 odds in baseball.
EXPOSURE: Amount of money a bettor or bookmaker stands to lose on any given wager.
FAVORITE: Any side priced with a negative number. San Francisco (-360) would be the moneyline favorite over Arizona (+280) in an NFL matchup.
FUTURES BET: A wager placed on an event that will take place in the near or distant future. Betting on the winner of the Super Bowl, Stanley Cup, NBA Finals and World Series are popular futures options. Futures are also offered in soccer, major horse races, plus golf and tennis tournaments.
GAME TOTAL BET: Over/Under betting on how many goals/points/runs will be scored in a game. If a baseball game total is set at 7.5 runs, bettors need to decide if the combined total runs in that contest will be over or under eight runs.
HANDICAPPER: A bettor who researches matchups and then places a bet. Also applies to tipsters who publish predictions on various sporting events.
HEDGE: Most common with parlay betting and as a risk management tool. Hedging a bet consists of betting on the opposite side of an original wager to set up a guaranteed return. A hedge bet may also be placed to reduce the initial risk on a potential losing wager.
HOOK: A half point added to point spreads and game total odds. A hook guarantees a wager will not be graded as a push. One side will win and one side will lose.
JUICE: Also known as vigorish, juice is set by bookmakers and is attached to spread and total betting options. If Minnesota -3.5 (-110) versus Green Bay +3.5 (-110) has $110K wagered on both sides, bookmakers earn $10K profit from the juice on the losing bets.
LAYING POINTS: Betting on a favorite. A wager on Dallas, as a -2.5 point favorite over the LA Rams, is laying 2.5 points. The Cowboys need to win by at least points to cash a winning ticket.
LINE: Betting odds posted by a bookmaker.
LINEMAKER: Same as a bookmaker, a person or group that sets daily betting lines and prices.
LOCK: Term often used by tipsters to tempt bettors into buying handicapping advice. Death and taxes are the only true locks in life. You'll never hear us use this term!
LONGSHOT: A perceived inferior side that is also known as an underdog. Longshot prices are always displayed as positive prices. The New York Jets, with a +9.5 point spread, would be a longshot against the New England Patriots.
MIDDLE: Cashing tickets on both sides of a betting option. Bettors have an opportunity to middle when a point spread moves up or down prior to a match.
MONEYLINE: A straight up bet, without any point spread, where bettors need to predict the outright winner. Favorites are posted with a negative (-185) odds while underdogs are listed with a positive (+165) price.
NO ACTION: Betting options cancelled by a bookmaker are graded as no action. Original stakes are returned to bettors.
ODDS: Betting lines set by a bookmaker on a variety of events.
ODDSMAKER: Same as a linemaker, a person or group that sets daily betting lines and prices.
ODDS ON FAVORITE: One side that is viewed as far superior to the other and is priced with odds that offer very little value.
OFF THE BOARD: Shortened to OTB, off the board games are displayed on betting boards but don’t have odds attached to them. An injury to a star player may cause bookmakers to pull odds off the board.
OVER/UNDER: A number posted on how many runs/goals/points will be scored in a match. Bettors need to determine if the combined scores of both teams will go over or remain under the number. Also known as game total odds.
PARLAY: A single bet, also known as an accumulator or multiple, that consists of two or more sides. Each side must win to produce a winning ticket. A selection that ends as “push” is voided from a parlay ticket.
PICK 'EM/PICK: A betting option where the odds are exactly the same on both sides. Atlanta (-110) vs Miami (-110) is a pick ’em wager.
POINT SPREAD: Odds posted on a match that are designed to level the playing field. Favorites are listed with a negative (-6.5) point spread while the underdog is given a ‘head start” with positive (+6.5) odds.
PRICE: Another term for betting odds and/or juice set by a bookmaker.
PROPOSITION BET: Often shortened to prop bet, proposition bets are exotic or special wagers that are offered on most sporting events. NFL Super Bowl prop betting options number in the hundreds.
PUSH: Any wager where the final result is a tie. If a basketball spread is 11 points and the final score is 120-109 spread bets on both teams are graded as a push and original stakes are returned.
RECREATIONAL BETTOR: A player that bets infrequently or on major sporting events only. Rec player bets are counted as public money. Opposite of a sharp or professional bettor.
ROTATION NUMBER: A number assigned by bookmakers to every betting option on the board. Bettors use the rotation number when placing a bet, rather than team names, at betting windows at land based sportsbooks.
SHARP: A professional sports gambler who uses vast resources to determine their wagers. Sharps look at the big picture and base their bets on knowledge. Pro bettors always shop around for the best prices and will bet on favorites or underdogs when they receive proper value.
SPREAD BETTOR: Taking or laying points when betting on a competition. Selecting Los Angeles at -7 point odds against New York (+7) is a spread bet. The Rams need to defeat the Giants by at least eight points to cash a winning ticket. Bettors lay the spread with favorites and take the spread with underdogs.
SPORTSBOOK: A free standing shop, or in dedicated space at land based casinos, sportsbooks have become popular meeting spots for bettors and sports fans alike. Sportsbooks accept bets on US events, plus action from around the globe, and provide giant screens for bettors to watch the action play out.
STEAM: Odds that change quickly usually due to a large amount of betting action by sharp bettors or syndicates.
STRAIGHT BET: A single wager on moneyline, spread or game total betting options.
SYNDICATE: A group of bettors that pool funds and use their combined knowledge to bet on events. Syndicates will often wager large amounts to move a line and then place an even larger bet on the new price they helped create.
TAKING POINTS: A bet placed on an underdog side. Bettors who wager on Washington, with a +1.5 run line, are taking points on a baseball bet. Tickets cash is the Nationals win outright or lose by one run.
TEASER ODDS: Any line moved up or down by a bookmaker to entice (tease) bettors. Players can tease odds on a single game by using alternate lines. They can also place a parlay bet from a teaser card issued by a sportsbook.
TICKET: A receipt issued by a bookmaker to confirm a wager has been accepted.
TIP: Betting advice offered by tipsters and handicappers that suggest the most likely outcome of an event. Tips should never be bet on blindly but can be helpful when used with a proper pregame research plan.
TIPSTER: A person or group that offers betting advice. Some tipsters offer free sports wagering advice while others charge a fee for their tips.
UNDER: Opposite of Over on game total betting. If the total on a Lakers vs. Clippers match is set at 238, players who place under bets need the combined final score to be 237 points or less.
VIGORISH: Another term for juice. Standard vigorish pricing is (-110) and bettors need to wager $110 to earn a $100 return.
WAGER: Placing a bet on any event offered at a sportsbook, casino or racebook.
WISE GUY: Handicappers, sharps and professional bettors with vast knowledge of the sports they bet on.
