Sports Betting Terms: The Ultimate Bettors Glossary

Online sports gambling is fast-paced, unpredictable, and great fun when enjoyed responsibly. However, several potentially confusing terms put some off gambling on their favorite sports, competitions, and teams. 

The gambling industry is awash with jargon and slang, and keeping up can be challenging. Thankfully, your expert team at Whop is here to help. Keep reading as we offer our glossary of sports betting terms. Both beginner and experienced online gamblers can bookmark this page and return each time they need clarity on sports betting terms and meaning.

The Most Important Sports Betting Terms to Know

Do you know the difference between an accumulator and a multi, what backdoor cover means, and how to gamble ante-post? These are just some of the most important areas covered in our online betting terms glossary. Let’s dive into the thick of our sports betting terms and meanings from A to Z.

Accumulator - also known as a parlay, it’s a bet involving four or more selections where each pick must win.

Action - simply having a bet on the outcome of a sports fixture.

Across the board - a popular bet in horse racing that involves gambling on a horse to win, finish in the top two, or place in the top three.

Added game - a fixture that was not part of the original schedule and was added due to postponement or a new addition.

AET odds - a market that includes extra-time betting, allowing a bettor to wager on a team to win in regulation time or after extra time.

Also ran - A horse or selection that also competed in a race but didn’t finish in the notable places.

Alternate lines - extra options for sports bettors playing the points or totals markets.

American odds - you’ll see these shown as + or - betting odds as opposed to fractional or decimal gambling odds.

Ante-post - betting on a race or event in the future, often before the final field is decided.

Arbitrage - betting on all possible outcomes and setting a stake to ensure a profit. Read: what is arbitrage betting

Asian handicap - a form of handicap betting that eliminates the possibility of a draw.

ATS - stands for Against The Spread and covers a team’s form when competing against the handicap or points spread.

Backdoor cover - when a team is losing heavily but scores late to cover the points spread despite losing.

Bad beat - when a bet loses despite looking very likely to win until the dying seconds of play.

Bankroll - the total amount a bettor sets aside for gambling in a certain period, such as a week, month, or season.

Bankroll management - carefully managing your bankroll to avoid overspending by sticking to a budget. Read: managing your bankroll

Belmont Stakes - a thoroughbred Grade I horse race held annually in New York each June.

Bet - risking cash on the outcome of an event, such as a football game.

Betting exchange - where gamblers bet against other players rather than a sportsbook for the chance to land better odds.

Betting strategy - a systematic approach used to give bettors the best chance of making the most profit from gambling. Read: the best strategies for sports betting

Book - the betting and odds available on a certain sports fixture.

Bookie - another way of saying bookmaker or sportsbook.

Bookmaker - an organization that offers betting odds and accepts wagers on the outcome of popular sporting events.

Buy points - paying an additional fee to alter the points spread or handicap.

CFP - refers to College Football Playoff.

Chalk - the betting favorite in the race, match, or fight.

Chalk bettor - someone who gambles on favorites.

Circled game - a fixture where the maximum bet limits are lower than usual.

Closing line - the final betting line before a fixture begins.

Co-favorite - when there are two or more betting favorites in an event with multiple competitors.

Combine - physical and mental tests conducted on college players before entering the NFL draft.

Commission - the percentage a gambling exchange will take from winning bets.

Correct score - a market that allows bettors to predict the final score in a game.

Cover/covering the spread - Points bet spreading to even the playing field when betting on two teams. Read: what is a point spread?

Decimal odds - you may see this form of odds displayed as 1.5 as opposed to fractional or American odds.

Dog - short for the underdog in sports betting.

Double action - when backing both sides of a points spread gives gamblers a chance to land a profit.

Double bet - betting on two different selections in different fixtures where both must win. Read: what is a double bet?

Double result - predicting both the half-time and full-time results of a game.

Double-header - when two games are played consecutively in the same competition.

Draw - when two competitors or teams finish level on the scores.

Drift - the odds of a selection get larger.

Each-way - a bet on a selection to finish in the major places, usually first, second, or third.

Edge - an advantage or insight that could increase a bettor’s chances against the bookie.

Even money - gambling odds that return the same value as your stake. A $50 bet at even money returns $100.

Exotic bet - another word for a special bet that isn’t always included in the list of pre-game options. Read: Exotic bets, what they are, and how to find them

Exposure - the amount a bettor could lose if their wager fails to win.

Favorite - a selection the traders see as the most likely winner.

First-half bet - a market that’s decided in the first half of a sports fixture, such as soccer or football.

First/last/anytime soccer - a wager on a player to score the first or last goal of a game or to score at any time during the play.

Fixed odds - a form of gambling where the odds are determined by a bookmaker.

Fractional odds - gambling odds displayed as a fraction, such as 10/1, as opposed to decimal or American odds.

Futures bet - gambling on the outcome of an event held often weeks or months in the future, such as the next Super Bowl champion. Read: What is a Futures bet, and how does it work?

Game total bet - a wager on the number of points, goals, or cards in a fixture.

Graded bet - a wager that has been settled and paid out by a bookmaker.

Grand salami - a bet on the total number of goals or runs on a day in all fixtures from one league or competition.

Half-ball handicap - like the Asian handicap, where the draw is eliminated by half points.

Half-time bet - a wager on the score or result at half-time.

Handicap - betting on the outcome of a game when one team starts with a points advantage and the other starts with a negative or handicap score, such as -1 point. Read: how to handicap sporting events

Handicapper - an expert who analyzes a sports fixture and gives his prediction. The pick often helps set the handicap.

Handle - the total amount gambled on a sports fixture or competition.

Hedge - gambling on the opposite side of an original bet to cover both outcomes and increase the chances of making a profit.

Holding your own - breaking even in betting or winning back your stake.

Home field advantage - the edge a team will have over an opponent simply by playing at their home stadium.

Hook - a half-point added to a spread to help eliminate the draw.

If bet - a gamble where the second part only comes into play if the first wager wins.

In-play betting - gambling on a game that has already begun and is live or in-play.

Joint favorite - when there are two betting favorites in one event.

Juice - the commission a sportsbook takes for processing the bet.

Laying points - gambling on the favorite and giving up points in the spread.

Layoff - when a sportsbook reduces its risks by placing bets at another bookie to ensure a return.

Limit - the maximum amount of cash a bookie will accept on a specific selection or market.

Line - the odds or points spread set by a bookie.

Live betting - the same as in-play betting where a gambler places wagers on an event that has already begun. Read: what is live betting?

Lock - a pick with a fantastic chance of winning.

Longshot - a pick that has been written off. Also known as an outsider or underdog.

Middle - a strategy where a bettor gambles on both sides of the result.

Moneyline - a gamble on which team will win a fixture. Read: what is the moneyline in sports betting?

Multiple bets - a single bet with two or more different selections that must win.

Nap - also known as the best bet of a fixture, day, or week.

No action - a bet that’s canceled or made void.

Novelty bets - bets placed on non-sporting events, such as politics or a white Christmas.

Odds - the probability of an outcome expressed in decimal, fractional, or American odds. Read: types of odds explained and What are enhanced odds?

Odds formats - how the odds are displayed, fractional, decimal, or American. Most bookmakers allow players to decide how odds are formatted.

Oddsmaker - another name for a betting trader who creates gambling odds.

Odds on favorite - a betting favorite with odds lower than even money, such as 1/3 or -300.

Odds shopping - visiting different bookies to find the best odds available on your pick.

Off the board - when a sportsbook stops taking bets on an event.

Outright betting - a wager on the winner of a competition, such as the Super Bowl or NBA Finals.

Over bet - a bet on the total combined points of both teams being more than the line.

Over/under - a market that allows you to gamble on the total points being more or less than the bookmaker’s line. Read: what is over/under betting?

Parlay - the same as an accumulator where you add multiple picks to a bet slip and they all must win. Read: beginner's guide to parlay betting

Parlay banker - a selection in your parlay you feel is the strongest bet or the banker of the bunch.

Payout - the value of money received after placing a winning bet. Also known as returns.

Pick’em - a game or bet where no side is favored by the bookies.

Point spread - the margin a favored team must win by or an underdog lose. Read: what is a point spread?

Post time - the official time when a sports fixture is advertised to begin.

Power rankings - rankings of teams or players that gauge their strengths and chances of winning.

Price - another word for betting odds.

Proposition bet - markets unrelated to the final result, such as the first goalscorer. Read: MLB Prop bets explained

Proxy - a person authorized to gamble on another’s behalf.

Public money - bets placed by the public that help move the betting odds or line.

Puck line - a hockey bet where one team must win by more than a certain number of points, similar to handicap.

Push - when the result lands on the exact number of handicaps or spread, such as two points, resulting in the refund of a stake.

Quarter bet - a wager on a specific quarter of a game, such as basketball or football.

Rotation number - an identifier given by a bookmaker to a team or player.

Run line - a points spread in baseball.

Second-half bet - a market that allows you to wager on the second half of a fixture, such as a Premier League game.

Sell points - an opportunity to change the spread or handicap to suit a bettor.

Sharp - an expert sports bettor with a great strike rate.

Special - a bet that’s unique to the usual markets.

Spread betting - a type of bet where the accuracy of a prediction determines the payout.

Sportsbook - a bookmaker that offers odds and accepts bets on the outcome of sports fixtures.

Square - an inexperienced bettor who usually gambles on favorites.

Stake - the cash value a bettor is willing to risk on a prediction. Read: how to find the right staking strategy

Staking method - a strategy for managing betting funds.

Steam - quick and sudden movements in the betting odds.

Straight bet - a single bet placed on the result of one game.

Syndicate - a group of bettors who pool their resources for large gambles.

Taking points - betting on the underdog and taking the points on the handicap.

Teaser odds - odds available on bets where the points or totals are adjusted to suit the gambler.

Teaser card - a card listing all events where gamblers can adjust the totals or totals.

Ticket - a paper or digital record of a bet placed, also known as a receipt.

Tip - a researched pick offered by an expert on a sporting event.

Tipster - someone who gives detailed and well-informed sports picks or tips.

Three-way odds - prices available on the three possible outcomes of a game which are Team A - Draw - Team B.

Two-way odds - the prices available on a sporting event without the draw. Gamble on Team A or Team B for a one-in-two chance of winning.

Under - a wager on the total combined points scored in a game being beneath the line, such as under 40 points.

Underdog - a team or player written off by the bookies.

Wager - another name for a prediction, gamble, or bet.

Where Can I Learn More About Sports Betting?

Knowing these betting terms will certainly help you on your journey, but understanding the meaning of these words is just the beginning. There’s plenty more to learn, and you can find it right here on Whop.

You can learn much more about the online gambling industry from experienced cappers, tipsters, ex-professional athletes, and enthusiasts in the various sports betting communities available at Whop today. Browse the communities and choose your favorites on the Whop marketplace. Focus on NBA betting with its buckets, research and master betting style at Parlay Banditz, or join a generalist group like Beat The Books that caters to all kinds of bettors.

Ready to get serious about your online sports betting picks? Join a sports picks community at Whop and become a better bettor today.