Whether you’re a betting enthusiast or a newcomer to the wagering world, understanding the lingo is key to enjoying the experience to the fullest.

Our comprehensive glossary is here to demystify the jargon and provide clear explanations for all the betting terms you might encounter. From the basics like ‘odds’ and ‘stake,’ to the more advanced ‘over/under’ and ‘parlay,’ we’ve got it all broken down for you. So, go ahead and equip yourself with the knowledge you need to bet smartly and responsibly.

*Click on the linked terms for comprehensive definitions and examples

• Action: Placing a wager on a game.
• Bad Beat: An unexpected event or events that cause a bet to lose after showing a high probability of winning.
• Bankroll: The total amount of money a bettor has to place wagers.
• Book: A website or sportsbook with whom you place your wagers.
• Bookie: A person who accepts bets illegally either over the phone or through a website and charges vig.
• Buy Points: When a player pays an additional price to receive half a point or more in his favor on a point spread game.
• Chalk: The outright favorite.
• Consensus Pick: A team or total that a majority of bettors are placing their wagers on.
• Closing Line: The final line available before a game starts.
• Contrarian: Betting against a team receiving a vast majority of spread bet tickets.
• Cover: When a favorite wins by more than the point spread or an underdog loses by less than the point spread.
• Deadbeat: A person who does not pay up after losing. Also known as a “Welcher”.
• Dime: Slang for a $1,000 wager.
• Dollar: Slang for a $100 wager.
• Dog: Short for “underdog.”
• Edge: Holding a perceived advantage against the odds on a moneyline, spread, or total.
• Even Money: A bet that pays 1:1.
• Fade: Taking the opposite side of another bettors bet.
• Favorite: The team that is expected to win the game as indicated by the point spread.
• Futures Bet: A long term wager that will usually be decided at the end of a leagues season.
• Handicapper: One who tries to correctly predict a winning side, how much a team will win by, or how many total points will be scored.
• Handle: The total amount of money wagered on a particular game or event.
• Hedge: Placing a bet in order to guarantee a profit or minimize the risk on an original bet.
• Hook: A half point in the betting line. Eliminates the chance for a game to “Push”.
• In-Play Betting: Betting on events after they have started.
• Juice: Another term for the bookmaker’s commission; also known as the vig.
• Limit: The maximum amount a bettor is allowed to wager on a certain bet.
• Lock: An easy winner.
• Line Shopping: Searching for the best possible odds on a contest through multiple books
• Live Betting: Placing bets on a game or event while it’s taking place in real time.
• Moneyline: This is a bet where you’re simply picking the winner, regardless of the point spread.
• Opening Line: The initial point spread or odds offered on an event when it is first posted.
• Over/Under: A bet on whether the total points scored in a game will be over or under a specified number set by the bookie.
• Parlay: A single bet that links two or more individual bets into one ticket. You win if all the events in the parlay win.
• Payout: The amount of money you win from a successful bet.
• Pick ‘Em: A game where neither team is favored, and the point spread is zero.
• Point Spread: The number of points by which a favorite is expected to beat the underdog.
• Prop Bet: A bet on a specific event or individual performance within a game, like who will score the first touchdown.
• Public Betting Percentages: The percentage of bets placed by the general public on either side of a game.
• Push: When a game ends with no winner or loser in the context of the bet due to a tie.
• Quinella: A bet where you pick the first two finishers in a race, in any order.
• Sharp: A professional or skilled bettor who is respected by bookmakers.
• Spread: The number of points a team is expected to win or lose by.
• Square: A casual or recreational bettor, often seen as the opposite of a sharp.
• Straight Bet: A bet on a single game or event.
• Teaser: A type of parlay where you can adjust the point spreads in your favor in exchange for a lower payout.
• Ticket: A record of your bet.
• Total: The combined number of points scored by both teams in a game, often used in over/under betting.
• Tout: Someone who sells their expertise on sports betting, often providing picks for a fee.
• Underdog: The team or individual expected to lose, according to the odds.
• Unit: A standard amount used for betting, which helps manage a bankroll.
• Value: Finding good odds or prices in the betting market that are in your favor.
• Vig (or Vigorish): The commission charged by the bookmaker.
• Wager: Another term for a bet.