100+ betting terms explained in plain English
Having a bet in play. "I have action on the Chiefs" means you bet on them.
A bet on the point spread rather than straight-up winner. Track records show how teams perform vs the spread.
A spread or total different from the main line, offering different odds.
Betting both sides of a market at different sportsbooks to guarantee profit regardless of outcome.
The total amount of money you have set aside for betting.
A loss that occurs in an unlikely or unlucky fashion, often at the last moment.
Someone who places bets on behalf of another person to avoid detection.
Short for sportsbook - the entity that accepts bets.
Paying extra vig to get a more favorable spread (e.g., -3 to -2.5).
The favorite in a game. "Betting chalk" means betting favorites.
A game with reduced betting limits, usually due to injury uncertainty.
The final odds before a game starts. Beating the close consistently indicates skill.
The difference between the odds you got and the closing line. Positive CLV predicts long-term success.
Betting against the public consensus.
Winning against the spread. "The Bills covered" means they beat the spread.
A $1,000 bet.
The team expected to lose, shown with + odds.
See "Push" - when a bet results in a tie.
An advantage over the sportsbook. Finding edge is key to profitable betting.
A bet that pays 1:1 (+100 American, 2.00 decimal).
The average profit or loss per bet over time. Positive EV bets profit long-term.
Any bet besides straight spreads, totals, and moneylines (props, futures, etc.).
To bet against someone or something. "Fade the public" means bet against popular opinion.
The team expected to win, shown with - odds.
A bet on only the first half of a game.
Betting the same amount on every wager regardless of confidence.
Long-term bets on outcomes like Super Bowl winner or season win totals.
See "Over/Under" - the combined score of both teams.
A bet on the total points scored across all games in a day.
Someone who analyzes games to predict outcomes.
The total amount of money wagered on an event.
Placing a bet on the opposite side of an existing bet to reduce risk.
The sportsbook's profit margin on a market (typically 4-6% on NFL spreads).
A half-point in the spread. "The hook" often refers to 3.5 vs 3.
See "Vig" - the commission charged by sportsbooks.
A mathematical formula for optimal bet sizing based on edge and odds.
Common final margins in NFL (3, 7, 10) that affect spread betting value.
A bet placed by a sportsbook with another book to balance their risk.
The maximum amount a sportsbook will accept on a bet.
The odds or spread offered on a game.
Changes in the spread or odds between opening and closing.
Placing bets during a game while it's in progress.
A supposed "sure thing" - there are no true locks in betting.
Winning both sides of a bet when the line moves (betting Team A -3 early, Team B +5 later).
A bet on which team will win straight-up, no spread involved.
A bettor believed to bring bad luck.
A $500 bet.
A voided bet where your stake is returned.
The price set by sportsbooks representing the probability of an outcome.
A game temporarily removed from betting, often due to breaking news.
The first line posted by sportsbooks.
A bet on whether the combined score will be over or under a set number.
When the odds are better than you think they should be (favorable for bettors).
A single bet combining multiple selections - all must win to pay out.
A game with no spread - both teams are even.
The margin of victory a favorite must win by to cover.
A bet on something other than the final score (player stats, game events).
Casual bettors as a group, often contrasted with sharps.
A tie - the result lands exactly on the spread and stakes are returned.
Profit as a percentage of total amount wagered.
When the line moves opposite to where the majority of bets are placed.
The amount you stand to lose on a bet.
Requirement to bet bonus money a certain number of times before withdrawing.
Baseball's equivalent of a point spread (usually 1.5 runs).
A professional or skilled bettor. Sharp money moves lines.
See "Point Spread."
A casual, recreational bettor. Opposite of a sharp.
Sudden, dramatic line movement caused by heavy sharp action.
A single bet on one game, as opposed to a parlay.
A parlay where you can adjust point spreads in your favor for reduced odds.
A bet or wager.
See "Over/Under."
Someone who sells betting picks, often with inflated claims.
Betting that the combined score will be less than the total.
The team expected to lose.
A standard bet size, usually 1-2% of your bankroll.
A bet where the odds are better than the true probability suggests.
The commission sportsbooks charge, built into the odds. Standard is -110 (4.55% vig).
A bet.
A bettor who wagers very large amounts.
A sharp bettor with a track record of success.
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