Sports Betting Glossary

Every crew has its own language. Here is ours: 51 sports betting terms in plain English, from the juice to the hook. If a word on the forum has you lost, it is probably here. New to odds? Start with how to read betting odds.

A B C D F H I J K L M N O P R S T U

A

Action #

Money that is riding on a game. "Where's the action?" means "which side is getting bet?" Having action on a game just means you have a bet on it.

Against the spread (ATS) #

A team's record when the point spread is counted instead of the final result. A team can lose a game and still be 1-0 ATS if it stayed inside the number.

Alternate lines #

Extra spreads or totals a sportsbook offers at different numbers and prices, for example a team at -6.5 instead of -3.5 for a bigger payout.

American odds #

Odds written with a plus or minus sign and based on $100. A minus number (-150) is what you risk to win $100. A plus number (+150) is what a $100 bet wins. See how to read odds.

B

Backdoor cover #

Late, meaningless points by the losing team that sneak it inside the spread after the game is already decided. Great if you have the dog, a bad beat if you laid the points.

Bad beat #

A bet that looked like a winner until the very end and lost anyway.

Bankroll #

The money you set aside for betting and nothing else. On SportsMafia every bankroll is virtual: the handicappers and contest players start with $10,000 in play money.

Bookie #

Someone who takes bets. In Canada, betting should only happen with a sportsbook licensed in your province. An unlicensed bookie is the kind of business the old mob ran, and it still isn't legal.

Buying points #

Paying a worse price to move a spread or total in your favour, for example taking a team at -2.5 (-125) instead of -3 (-110).

C

Chalk #

The favourite. "Chalk" bettors mostly back favourites, and a "chalky" card is one full of them.

Closing line and CLV #

The closing line is the last price before the game starts. Closing line value (CLV) means you got a better number than the close. Over a long run it is one of the best signs that someone handicaps well.

Cover #

To win against the spread. A favourite covers by winning by more than the spread; an underdog covers by losing by less than the spread or winning outright.

D

Decimal odds #

Odds shown as the total return for each $1, stake included. 2.50 returns $2.50 for every $1 (a $1.50 profit). Many Canadian sportsbooks let you switch between decimal and American odds.

F

Favourite #

The team expected to win. It has a minus moneyline and "lays" points on the spread.

First half and period bets #

Bets on only part of a game: the first half or a quarter in football and basketball, a period in hockey, the first five innings in baseball.

Futures #

Bets on results decided later in the season: champion, MVP, season win totals. Your money is tied up until it settles.

H

Handle #

The total amount of money bet on a game, a market or a whole sport.

Hedge #

Betting the other side of something you already bet, to lock in a profit or cut a loss.

Hold #

The share of all the money bet that the sportsbook expects to keep. On a game priced -110 on both sides, the hold is about 4.5%.

Hook #

The half point on a spread or total, as in -3.5 or 44.5. The hook means the bet can't push.

I

Implied probability #

The chance of winning built into the odds. For minus odds it is odds / (odds + 100) using the number without the sign, so -110 is 52.4%. For plus odds it is 100 / (odds + 100), so +150 is 40%.

J

Juice (vig, vigorish) #

The sportsbook's cut, built into the price. At the standard -110 you risk $110 to win $100; that extra $10 is the juice.

K

Key numbers #

The final margins that come up most often. In the NFL, 3 and 7 are the big ones because of field goals and touchdowns, so moving a spread across 3 or 7 matters more than other half points.

L

Line #

The current odds, spread or total on a game.

Line movement #

A change in the line after it opens, caused by money coming in on one side, injuries, weather or news.

Live betting #

Betting after the game has started, with odds that change as it is played. Also called in-game betting.

Lock #

Slang for a sure thing. There is no such thing. Our handicapper is called The Locksmith, and his record shows his losses too.

M

Marker #

Old slang for an IOU: money owed on a bet. Some debts are better left in the movies.

Middle #

Betting both sides of a game at different numbers so both bets can win if the result lands in between. Take a team at +7.5 and the other side later at -3.5, and any win by 4 to 7 points cashes both.

Moneyline #

A bet on which team wins the game outright, with no point spread. In hockey the standard moneyline includes overtime and the shootout.

N

No action (void) #

A bet that is cancelled and refunded, for example when a game is postponed. The Locksmith's postponed tickets are graded "no action" and don't count in his record.

O

Opening line #

The first line a sportsbook posts on a game, before the betting moves it.

Over/under (total) #

A bet on whether the two teams combine for more or fewer points, goals or runs than a set number. At most sportsbooks overtime counts toward the total; check your book's rules.

P

Parlay #

Two or more bets combined into one ticket. Every leg has to win, and the payouts multiply. A two-team parlay at -110 per leg pays about +264.

Pick'em (PK) #

A game with no favourite: the spread is 0 and you just need your team to win.

Prop bet #

A bet on something inside a game rather than the final result: a player's passing yards, the first goal scorer, total strikeouts.

Public money #

Bets from casual fans. The public tends to back favourites, overs and popular teams.

Puck line #

Hockey's point spread, almost always 1.5 goals. The favourite at -1.5 has to win by two or more.

Push #

When the result lands exactly on the number, for example a team favoured by 3 wins by 3. The bet is a tie and the stake comes back.

R

ROI (return on investment) #

Units won divided by units risked. Winning 5 units after risking 100 units is a 5% ROI, which is very good over a long run.

Run line #

Baseball's point spread, almost always 1.5 runs.

S

Sharp and square #

A sharp is a professional or winning bettor. A square is a casual one. "Sharp money" is money that sportsbooks respect enough to move the line.

Spread (point spread) #

A handicap that evens out a mismatch. Bills -3.5 means the Bills have to win by 4 or more; the other team at +3.5 wins the bet if it loses by 3 or fewer, or wins.

Steam #

A sudden, fast line move across many sportsbooks, usually from sharp money.

Straight bet #

A single bet on one result, not tied to anything else.

T

Teaser #

A parlay where you move every spread or total by a set number of points in your favour, for a smaller payout. Six-point NFL teasers are the common one.

Three-way moneyline #

A bet on win, lose or tie in regulation time only, common in soccer and also offered in hockey.

Ticket #

A bet that has been placed, as in the slip you get back. The Locksmith calls his plays tickets.

Tout #

Someone who sells picks. Our picks are free, and every one of them is graded in public.

U

Underdog (dog) #

The team expected to lose. It has a plus moneyline and "gets" points on the spread.

Unit #

A standard bet size, so records can be compared no matter how much people bet. Many bettors use 1% to 2% of their bankroll. On SportsMafia 1 unit is $100 of a $10,000 virtual bankroll, and The Locksmith sizes his plays at 1, 2 or 3 units.

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