Sports Betting Terms and Glossary

These terms cut across a wide range of games and events you will find at a bookmaker. For a convenient and easy read, we’ve arranged the terms in alphabetical order.

Accumulator:  refers to a kind of bet in which a bettor can accumulate points by selecting two or more events or g

Accumulator: Refers to a kind of bet in which a bettor can accumulate points by selecting two or more events or games and waiting for a win or push.

Across the Board: Refers to a type of bet in a three-horse racing in which you place equal amounts of wager on a horse to win, place, or show in a particular racing event.

Action: An action means a wager or the total bet amount a punter placed on any particular game or event. You can wager on all game odds you find in the sportsbook.

Added Game: These are extra sportsbooks posted, especially in college football, outside the regular list. They’re listed due to a reschedule, high demand from the public, or a game of a doubleheader.

After Extra Time (AET) Odds: These are usually posted in European soccer after the expiration of regulation time. They’re often posted in live sports betting.

Against the Spread: Means laying points, including the point spread. It’s different from taking a Moneyline bet. 

American odds: This is one of the three types of market odds sportsbooks offer, the other two being decimal and fractional odds. A -110 American odd is equivalent to 10/11 fractional odd and 1.91 decimal odds. All odds are set at $100 wagering and profit standard.

Also ran: Refers to a greyhound, horse, or athlete who fails beneath paying pole during a race.

Arbitrage (ARB): Refers to the real-time purchase and sale of the same game to profit from different markets. Although rare, ARB comes when all possible results are covered. 

Backdoor cover: Occurs when a losing underdog scores some of-no-use points towards the end of the game to cover the spread. The points usually don’t affect the outcome of the game or alter the winner’s chances.

Bad beat: A stake that initially looked like a winning bet but eventually became a false hopeBad beat usually occurs in a casino poker game. Also, you can experience a bad beat if your earlier apparently brighter chances of winning your Moneyline bets, point spreads, or totals suddenly change to loss. 

Bankroll: This refers to the funds available to bet. It also refers to the funds you deposit into your sportsbook account for betting. The more wins you record, the higher the chance of an increased bankroll. Conversely, the more lost bets you record, the faster your bankroll depreciates.

Beard: An anonymous bettor who places bets on usually professional punters to avoid revealing his identity to bookies.

Bet: This is a wager involving money wagered at a sportsbook, casino, Facebook, or poker room.

Bookmaker: Often called a bookie, a bookmaker is a licensed person or company that allows punters to wager on games and sporting events. A bookmaker can take bettors’ wagers and betting lines. 

Chalk: It is the favored team or player in a matchup. 

Contrarian betting: Otherwise named anti-public betting, contrarian betting requires bettors to stake on games and events that come with unfavorable or lopsided winning ratios.

Consensus: A consensus is the ratio of people that bet in favor and against the game—the betting public consists of bettors who are for and against the team or players.

Cover: This means the betting outcome on a point spread wager. It is also the number of betting points a favored team or player uses to win. For instance, if you stake on the favorite with a 5-point odd and win by 7, you have covered the spread. An underdog will get a cover if they win outright or lose with a point fewer than the spread. 

Dime: A $1000 worth of bet.

Dollar: A bet of $100.

Draw: See push; a draw occurs when an event or a game doesn’t exceed the spread. It means there is neither a winner nor a loser. In that case, the bettor claims his money back.

Edge: This is the advantage a bettor has over the betting public. An edge gives bettors a positive value.  

Even Money: Occurs when you don’t have to pay +100, or what is called vig.

Favorite: A team or player favored to win a contest. See underdog.

Graded bet: When a game has been concluded, the bookmaker will officially mark it as won, lost, or pushed. Until a bet has been graded, winnings and push refunds are not paid.

Game Total bet: Total combined runs/goals/points in a contest. 

Half ball handicap: (In soccer) occurs when the point spread is equal to 0.5 goals, plus or minus, 

Half-time bet: Wagers placed on the result in the second half of a game.

Runline: This is a term used in place of the point spread in baseball. It’s used to indicate if the underdog will keep the game within a run or the favorite will win the underdog more than the assigned and expected run. 

Runner: An individual bettor who bets in the interest of some other bettor.

Steam Move: Refers to a drastic, sudden change in the line and sports betting marketplace. It occurs due to the outcome of serious bets. 

Teaser: This is one of the betting types out there. In this bet, you modify the total or point spread for a game. In teaser bet, your payout decreases as you modify the spread.

Total bet: Also called over/under bet, a total bet allows bettors to tie some points from both players and teams. 

Tout: A person who offers his betting skills, picks, or expertise for sale to other professional bettors 

Underdog: A team or player less likely to win a contest. It’s also called a dog. 

Wager: A bet placed at a sportsbook.

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