Sports Betting Terms and Glossary: A Complete Guide for Every Bettor

Sports betting can be an exciting and lucrative activity for many sports fans, but it can also be overwhelming and confusing, especially for those new to the world of sports betting. A key component to understanding sports betting is having a good grasp of the terminology used in the industry. From point spread to moneyline, prop bets to futures, there are a variety of terms and phrases that are important to know in order to make informed bets and maximize your chances of success.
In this guide, we will provide a comprehensive list of sports betting terms and glossary, explaining each term in detail to help you feel confident and knowledgeable as you navigate the world of sports betting.

Here are some of the most popular sports betting terms and glossary:

Action: A wager or bet.
Against the spread (ATS): Betting on the point spread of a game.
Bankroll: The total amount of money a bettor has available to bet.
Bookmaker (bookie): A person or organization that accepts bets and sets the odds for events.
Chalk: The favorite team or player in a game, which is expected to win.
Closing Line: The final betting odds for an event before the game or event starts.
Cover: Winning a bet by beating the point spread.
Dog: The underdog team or player in a game, which is expected to lose.
Futures: Betting on the outcome of a future event, such as a championship or tournament.
Handicap: The number of points or goals by which a team or player is favored or handicapped.
Juice: The commission or fee charged by a bookmaker for accepting a bet.
Line: The odds or point spread for a game.
Moneyline: A type of bet where a bettor chooses a team or player to win outright, regardless of the point spread.
Parlay: A bet that combines two or more wagers into one, with all bets needing to win in order to receive a payout.
Point spread: The number of points by which the favorite team or player is expected to win by.
Prop (proposition) bet: A bet on a specific event or outcome within a game, such as the first team to score or the number of touchdowns in a game.
Vigorish (vig or juice): The amount of commission or fee charged by a bookmaker for accepting a bet.

Sports Betting Terms and Glossary

A wager or bet. In sports betting, placing a bet on a particular outcome is referred to as taking "action". For example, if you bet on a team to win a game, you are taking action on that game.

Betting on the point spread of a game. When you bet against the spread, you are betting on the margin of victory for a particular team. If a team is favored by 5 points, for example, betting on them against the spread means they would have to win by more than 5 points in order for you to win your bet.

The total amount of money a bettor has available to bet. A bettor's bankroll is the total amount of money they have set aside specifically for sports betting. Bankroll management is an important aspect of sports betting, as it helps to ensure a bettor doesn't bet more than they can afford to lose.

A person or organization that accepts bets and sets the odds for events. A bookmaker is responsible for accepting bets from bettors and setting the odds for a particular event. The bookmaker's goal is to make money by ensuring that the amount of money bet on both sides of a game is as even as possible, regardless of the outcome.

The favorite team or player in a game, which is expected to win. The "chalk" in a game refers to the team or player that is expected to win. Betting on the chalk means betting on the favorite to win the game.

The final betting odds for an event before the game or event starts. The closing line refers to the final odds or point spread that a bookmaker sets before the start of an event. This is important for bettors because it represents the final opportunity to place a bet before the game or event starts.

Winning a bet by beating the point spread. When a bettor wins a bet against the spread, they are said to have "covered" the spread. For example, if a bettor bets on a team that is favored by 5 points and that team wins by 8 points, the bettor has covered the spread and won their bet.

The underdog team or player in a game, which is expected to lose. The "dog" in a game refers to the team or player that is expected to lose. Betting on the dog means betting on the underdog to win the game.

Betting on the outcome of a future event, such as a championship or tournament. A future bet is a type of bet where a bettor places a wager on the outcome of an event that will occur at a later time. For example, a future bet might involve betting on a particular team to win the Super Bowl before the NFL season has even started.

The number of points or goals by which a team or player is favored or handicapped. The handicap in a game refers to the number of points or goals by which a team or player is favored or handicapped. For example, if a team is favored by 5 points, they are said to have a 5-point handicap. This is important for bettors because it affects the point spread and odds for a particular game.

The commission or fee charged by a bookmaker for accepting a bet. The juice is the amount of money a bookmaker charges a bettor to accept their wager. It is also known as vigorish or vig. The juice is typically a percentage of the amount of the bet and is designed to ensure the bookmaker makes money regardless of the outcome of the event.

The odds or point spread for a game. The line refers to the odds or point spread for a particular game. This is important for bettors because it determines the payouts for winning bets.

A type of bet where a bettor chooses a team or player to win outright, regardless of the point spread. In a moneyline bet, the bettor simply chooses which team or player they think will win the game. The payout for a moneyline bet depends on the odds for the team or player chosen.

A bet that combines two or more wagers into one, with all bets needing to win in order to receive a payout. A parlay bet combines multiple individual bets into one larger bet. The payout for a parlay bet is higher than for individual bets, but all bets must win in order to receive a payout.

The number of points by which the favorite team or player is expected to win by. The point spread is the number of points or goals by which the favorite team or player is expected to win. Betting against the point spread means betting on the underdog to win or lose by fewer points than the point spread.

A bet on a specific event or outcome within a game, such as the first team to score or the number of touchdowns in a game. A prop bet is a type of bet that is not related to the outcome of the game itself, but rather a specific event or outcome within the game.

The amount of commission or fee charged by a bookmaker for accepting a bet. The vigorish is the same as juice or the commission charged by a bookmaker for accepting a bet. It is typically a percentage of the amount of the bet and is designed to ensure the bookmaker makes money regardless of the outcome of the event.

In conclusion, having a good understanding of the terminology used in sports betting is essential to making informed decisions and placing successful bets. Through this comprehensive guide to sports betting terms and glossary, You have learned about the most common phrases and concepts used in sports betting. From the closing line to the vig, You now have a better grasp of the language used in the industry and feel confident in your ability to navigate the world of sports betting. Armed with this knowledge, keep exploring the world of sports betting and putting your newfound understanding of these terms and concepts to the test.