If you’re looking to get into sports betting, you’ll probably notice plenty of unfamiliar terms being thrown around, including props, backdoors, and stakes.
If you’d like a better understanding of some of these sports betting terms, you’re going to have to learn their definitions and meanings. This article will serve as your one-stop shop for learning all of the key terms around sports betting, which should ultimately allow you to become a more informed participant in this ever-growing industry.
More on Sports Betting Terms
Let’s get started by talking about the different types of bets you can make at the best sports betting sites or in person at a retail sportsbook.
Types of Sports Bets
Before we get started with the rest of the terms, let’s make sure you’re at least generally familiar with the types of bets available to you.
Moneyline bets and betting against the spread both relate to the outcome of the game, but in different ways. A moneyline bet is a form of outright betting that simply requires you to pick who will win a game, regardless of margin of victory.
The odds will vary for better or worse teams, but the logic of the wager is simple, and great for beginners.
The point spread is a projected margin of victory for the favored team, the one expected to win. You bet on either the favorite or the underdog, the team expected to lose, to “cover” the spread, which means achieving a better outcome than the spread predicted.
For example, if the spread is 6.5 points, the favorite must win by 7 to cover, and the underdog has to either win outright or lose by 6 or less.
Due to the difference between how these two bets work, a favorite could win a moneyline bet but lose against the spread in the same game. Meanwhile, an underdog could cash a spread bet but lose on the moneyline.
Over/under bets, also known as totals, are another bet derived from the final scoreline, but from a different angle than moneylines or spreads. It doesn’t matter who wins, or by how much, just how many points are scored between the two teams.
For instance, if the total in a football game is set at 50.5, the two teams must score 51 or more in order for a bet on the over to hit, while a total of 50 points or less would be a hit for the under.
Prop betting is a granular type of wagering that allows you to bet on one specific aspect of the game. Examples include the over/under on the total points scored by an NBA player or the strikeouts recorded by an MLB pitcher, or certain game-wide statistics, like the number of corner kicks taken in a soccer match.
Sports Betting Terms & Glossary
Now, let’s dig into a full glossary of the key terms you’ll need to talk and learn about while sports betting.
These sports betting terms will make it easier for you to communicate with other bettors, as well as better understand articles, YouTube videos, and podcasts about betting, which should help you win more bets on sporting events in the long run.
Without further ado, let’s start working down the list of these essential sports betting terms:
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Action: A bet or wager.
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Across the Board: A horse racing bet that covers win, place, and show .
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Alternate Lines: Odds that are lower or higher than main line, commonly used in point spreads betting.
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For example, if you want to bet on a football underdog in a game where the spread is 6.5, you might get an alternate line of 7.5 to capture the margin of a touchdown. However, you’d have to accept a shorter odds and thus a worse payout. Alternate totals can also exist for both games and player props.
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Arbitrage (ARB): A betting style that covers all betting outcomes.
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This usually involves playing with multiple sportsbooks, as the incongruent odds can allow you to make a profit. For instance, if one sportsbook has the Patriots at +120 to beat the Jets, but another has the Jets at +120 in that same NFL game, you can bet on the underdog at both sportsbooks and guarantee a profit regardless of results.
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This can also be achieved if the bet on one team is placed far before the event in question, then the odds change significantly, and then you place the bet on the other side.
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Against the Spread (ATS): A betting strategy used to handicap a heavy favorite to create more favorable odds. For example, in a game where the Denver Nuggets are favored by 5.5 points against the Boston Celtics, you’d say that they’re -5.5 favorites against the spread or ATS.
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Backdoor Cover: When a late score doesn’t interfere with the final game result but does impact the spread.
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For instance, let’s say Michigan is favored by 22.5 points against Michigan State in a college football game. Michigan is winning by 28 in the fourth quarter, until Michigan State scores a touchdown with just 30 seconds left.
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The outcome of the game hasn’t been affected in the slightest, but the spread has shifted from Michigan covering to Michigan State covering. This would also be considered a “bad beat” for Michigan bettors, as their read was generally correct, but they’ve lost the bet due to a relatively meaningless game event.
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Bankroll: The money you are betting with. Setting a budget to start your bankroll and sticking to it is an essential aspect of safe and responsible gaming.
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Bet Slip: The area where betting selections are made for a wager either on paper or via app.
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Buying Points: A process in which you pay a heftier price on your wager in exchange for additional points being added onto the spread.
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This is a term used for discussing alternate lines. For instance, if a team is favored by 6.5 points and you would rather bet on a line of 2.5, you say that you are “buying” four points.
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Closing Line: The final odds posted before the start of a game. This is an important term especially in sports like football, where the odds are posted long before kickoff. The closing line can vary drastically as compared to the initial odds that are released, also known as the opening line.
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Cover: A win against the point spread. For the favorite, a cover is a win by more than the point spread. For an underdog, a cover is a loss by less than the point spread, or an outright victory.
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Double Action: A wager that relies on two successful outcomes. Similar to a parlay, but with just two events tied together, and predetermined pairings. For instance, you could bet on a double action wager of Josh Allen to throw for over 300 yards and the Bills to win.
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Draw: A match that ends in a tie.
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Drift: Odds growth after the opening line is posted.
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Edge: An in-game advantage.
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The classic example of a major edge is an injury to a key player such as a starting quarterback. This will eventually significantly affect the moneyline odds.
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Yet, if you can get in a wager on the initial odds before the sportsbook adjusts to the news, you have an “edge” on the sportsbook. This is because you’re betting with information in mind that the live betting odds do not yet reflect.
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Even Money: When the odds are exactly +100, meaning that your profit would be the same amount as your stake, so a $100 bet would return $200, comprised of $100 in profit and your $100 stake.
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Exposure: The money that could be lost during a wager. This term is an interesting one because players and sportsbooks can both use it. If you bet $100 on a game, that’s your exposure to that event. Also, a sportsbook’s exposure to that event might be tens or hundreds of thousands of dollars, if the public heavily favors one team.
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Expected Value (+/- EV): The margin of error between the odds and a preferential outcome for the bettor.
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This can be determined by using a trusted model. For instance, if your model suggests that the Yankees should be -200 favorites against the Red Sox, a bet on the Yankees at -150 would be a +EV bet. A bet on the Red Sox would be -EV.
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Another way to determine EV can be using the implied probability presented by the odds compared to how often an event actually happens. If Mike Evans is +200 to score a touchdown, implied probability of just 33%, but he scored in 80% of games, a bet on him to score is a +EV bet, even if it misses one particular week.
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Favorite: The expected winner of a game.
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First-Half Bet: Wagers that only focus on the first half of gameplay. This can be a moneyline, spread or total; just about anything that could be placed on a full game. The only difference is that the result will settle based only on the results of the score at halftime.
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Fixed Odds: When a wager on a line is placed, confirming those odds.
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Futures: Bets predict the outcome of something that won’t be decided until further out.
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Futures bets can include things like preseason predictions of what team will win a championship or what player will win a major award, how many games a team will win, or the statistics a player will accumulate.
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The awards and championship markets can be challenging but in turn, quite lucrative. There are many potential outcomes, so the potential payout for each is usually relatively high.
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Meanwhile, the totals markets, for wins and statistics, are just two-sided totals, so the odds are usually -110 on both sides, like game totals or spread betting.
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Graded Bet: A wager that has been declared a win, loss, or push.
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Handicap: Bookmaker odds that cover the spread in a way that evens out the game.
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Handle: The total amount of money wagered in a single game outright. A term used by sportsbooks to express the market for that game.
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Hedge: Betting the opposite of the original wager to better your odds.
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This approach can be used in some cases to guarantee a profit on a futures bet or even using live odds to guarantee a win on a moneyline or spread bet. It can also be used to decrease your maximum potential losses in a tough situation.
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Hook: An extra half-point included on the spread or in total bets to eliminate a push.
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For instance, if a football team is the underdog given a spread of +7 and you’re waiting to see +7.5 before you bet, you would say that you’re waiting for the hook.
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In-Play Betting: Wagers placed after a game has already started, featuring ever-changing odds based on the unfolding events of the game. This is also known as live betting or in-play wagering.
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Leg: Part of a parlay bet wager. If you pull together five moneylines into a parlay, that is a five-leg parlay, with each individual game being a leg.
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Limit: A minimum or maximum placed on a game or event to mitigate bookmaker losses.
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Line Movement: When the odds for the game change between the time the bet is open and a game starts. Line movement can also happen in-game for markets that include live betting, and it can happen over the course of the season for a futures bet.
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Live Bet: Wagers offered after a game or event has already started, placed on ever-changing odds based on the changing status of the game. Also known as in-play betting.
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Lock: The strong likelihood of a particular game outcome. This term should not be thrown around lightly, as no game is a true “lock,” with a guaranteed outcome.
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Sports have an inherent measure of randomness and uncertainty, which is what makes them fun, but also challenging to bet on, even when a given outcome may seem like a sure thing.
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Longshot: The ‘inferior’ choice or underdog, with prices for this side being the positive bet.
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Middle: Playing both sides of a betting option to eliminate the potential for a full loss and create potential for a double win.
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For instance, if you initially bet the Packers as 6.5 point favorites against the Bears, but are later able to get the Bears as 7.5 point underdogs, you’d incur a small loss in most outcomes. This is due to the vig or house edge, but if the Packers win by exactly 7, you’d hit both bets.
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Moneylines: A bet on which team or player will win a game or contest, regardless of the final margin.
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No Action: When a wager is cancelled and the stake is refunded for no profit or loss. This can happen because of a push, or extraordinary circumstances, like a game cancellation.
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Novelty Bet: Bets that extend beyond standard moneylines to coin tosses or team/player appearance.
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Odds: Betting lines set for players to wager on.
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Off the Board (OTB): Games that are tracked or displayed but no longer have odds attached.
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Over: When you are betting for the final score to be higher than the game total.
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Parlays: Parlays allow you to merge multiple bets into one all-encompassing bet that requires you to accurately predict each wager of your parlay to win.
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Parlays can lead to major payouts, as the odds of each individual bet are compounded. However, if a single bet misses, the whole parlay loses, so they can be hard to hit if they involve many individual wagers.
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Traditionally, a parlay combines multiple games, but a same game parlay draws on game lines and props from the same sporting event.
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Payout: The amount collected on a winning bet.
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Point Spread: Odds posted for a game or event with the intent of evening the playing field, with favorites as the negative and the underdog given the positive as an advantage.
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For instance, if the Celtics are favored by 7.5 points against the Knicks, the Celtics’ spread line would be listed as -7.5, while the Knicks would be +7.5. A Celtics win by at least eight points would be a win for Celtics bettors, while any other outcome would be a win for Knicks bettors.
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Prop Bets: Wagers on a specific aspect of a game. There are multiple prop bets for sports bettors, including player props, team props, and game props.
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For instance, you can bet on a football player to score a touchdown, a basketball player’s assist total, or a baseball player’s total bases for a game.
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Proxy: A wager placed for another individual.
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Push: A wager or event that ends in a tie, meaning that there is no action, and all bettors’ stakes will simply be refunded for no profit or loss.
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Return on Investment (ROI): The amount won in relation to the ‘stake’ a player put in.
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For example, if you’ve wagered $1,000 across March Madness and made a profit of $100, your ROI is 10%.
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Run Line: The points spread in baseball, with favorites taking the negative on run and underdogs awarded the positive.
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This line is often set at just 1.5 runs, but 2.5 or larger numbers are seen in some circumstances.
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Spreads: A designated point spread in order to even the betting odds between two teams. See the definition of “Points spread” for more detail. These terms are synonymous.
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Straight Bet: A single spread or moneyline bet.
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Taking the Points: Betting on the underdog against the spread.
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Teaser Odds: A line moved up or down to appeal more to players. This is a form of alternate lines.
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Three-Way Odds: A wagering option with three outcomes, including a tie.
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This is most commonly seen in soccer, where games frequently end in a tie. It can also be seen in something like hockey, for bets to be settled at the end of regulation with overtime as the third option.
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Three-way moneylines often have a higher payout than two-way lines, since there are more outcomes and thus a lower probability for each, but of course they are harder to hit.
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Totals: The total amount of points expected to be scored in a game. Totals bettors project whether this number is too high or too low, known as betting on the under or the over, respectively.
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Under: When a player needs the opposite of the ‘over’ to win, e.g. wanting the points score to be lower than the perceived game total.
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Wager: Staking money on a specific line, market, or event. Synonymous with “bet”.
Responsible Gambling for US Players
If you’re just getting started with online sports betting, it’s vital to understand the importance of responsible gambling.
Essentially, responsible gambling means never wagering more than your financial means dictate that you can afford to lose. Failing to follow this rule could lead to dangerous financial situations, and impact on your social, family, and professional lives.
Another metric, albeit a “soft” one, is that when betting stops being fun, step away and do not try and dig yourself out of the hole if you’ve been losing.
For anyone other than a professional sports bettor, betting is a form of entertainment, not a means of making money. As soon as it is no longer enjoyable, it is no longer wise to keep playing.
Most sportsbooks offer tools such as limits on play time, deposits and bets, or even account time outs for those who struggle with responsible gambling.
If these resources are not sufficient, consider calling 1-800-GAMBLER to reach the National Problem Gambling Helpline for 24/7 support, visiting a Gamblers Anonymous meeting, or GamTalk for online support groups and similar resources.
Frequently Asked Questions About Sports Betting Terms
Hopefully, this glossary can serve as a helpful resource as you get started with sports betting, and seek to learn its various terms.
However, if you have a few more questions, we’ve compiled the most frequently asked questions about sports betting terms for your convenience.
What is a sports betting term?
A sports betting term is any phrase specific to sports betting that bettors and advisors use to describe bets, outcomes, and strategies.
What are the most common sports betting terms?
While all of the terms compiled in our glossary are important ones, the most commonly used ones include the major bet types, like spreads, totals, and moneylines. Also key descriptors, outcomes and actions like odds, payout, hedge, cover, and edge.
How do you know what terms to use in betting?
The more familiar you become with these terms, the easier it will become to know when to use each one. Reading articles about betting and listening to experts on YouTube or podcasts can help you gain familiarity with these terms.
Where do I find more sports betting glossary resources?
Plenty of sports betting media sites and even operators offer sports betting glossaries and similar resources. While this guide includes terms that some of them might have missed, a second perspective can often be helpful in understanding new concepts. Search the web for as many resources as you need to feel confident as you get started with sports betting.
How do you make moneyline bets?
Making moneyline bets is perhaps the simplest form of online sports betting, and it’s certainly offered by every single major online sportsbook. Simply find the game on which you’d like to bet, pick the team you think is going to win, and click on their odds. The wager will show up in your bet slip, at which point you’ll choose a wager amount, and submit your bet.
Do I need to make over/under bets?
Over/under bets can be a great way to play if you have a strong feeling that a game will be a high-scoring duel or a low-scoring defensive battle. However, if you don’t feel confident in that regard, stick to spreads, moneylines, or even props to have plenty of fun and even possibly make some solid money betting on your favorite teams and sports.
The Inquirer is not an online gambling operator, or a gambling site. We provide this information about sports betting for entertainment purposes only.