Sports Betting Glossary: 300+ Terms, Decoded From Beginner to Pro

Short for accumulator (UK). An acca is a multiple bet combining several selections into one; all selections must win for the bet to pay out. Known as a parlay in North America.

A bet that combines multiple selections into one wager, with the winnings rolling onto the next leg. All selections must win for the accumulator to succeed. (Also called a parlay in the US and a multi in Australia.)

Any kind of wager or the state of having an active bet. If a game 'has action,' it means bets have been placed on it. To be 'in on the action' is to have a bet riding on the event.

A game not part of the regular betting rotation, often a late addition to the schedule or a lower-profile matchup. Sportsbooks list added games separately, sometimes with lower betting limits.

A way to judge bets or team performance relative to the point spread. If a team is 5–2 ATS, it means it has covered the spread five times and failed to cover twice. Betting ATS refers to wagering on the point spread, rather than just the outright winner.

In futures or ante-post betting, an 'all-in' wager means no refunds if the selection doesn’t participate. Your bet stands regardless of whether the player or team competes. (In poker, 'all-in' means wagering all your chips, but in sports betting it usually refers to ante-post terms.)

An artificial racing surface designed to withstand various weather conditions. All-weather tracks (often synthetic) allow horse races or other events to proceed in poor weather. In betting, you might see races labeled as on all-weather going, indicating a synthetic track.

A competitor in an event who finishes but does not win or place. In horse racing or contests, an also-ran is one who was in the field but was not among the top finishers (outside the paying places).

To bet on a selection to win. If you 'back' a team or horse, you are placing a wager on it to succeed (as opposed to laying, which is betting against it). For example, backing Liverpool means you put money on Liverpool to win.

When a team covers the point spread with a late score that doesn’t affect the game’s outright winner. A backdoor cover often happens near the end of a game, and can secure a win for bettors who took the underdog (+points) or allow the favorite to cover unexpectedly.

A tough or unlikely loss on a bet that appeared to be winning until the last moments. For example, a basketball bet that loses due to a buzzer-beater when your team was covering — that’s a bad beat. Bettors use this term to commiserate over wager outcomes that swing dramatically against them.

Stands for Bookmakers’ Afternoon Greyhound Service. It is a schedule of greyhound races in the UK offered to betting shops (and online books) during the day. BAGS meetings allow continuous betting opportunities on greyhounds, often with off-track tote pools.

A selection widely expected to win – essentially a 'sure thing' in the bettor’s eyes. A banker is often used in multiple bets to anchor an accumulator. (In US slang, this would be a 'lock,' though in reality no bet is ever guaranteed.)

The total funds a bettor sets aside for gambling. Good bankroll management – staking only a small percentage of your roll on each bet – is crucial to avoid going bust. Your bankroll should only consist of money you can afford to lose.

The strategy of handling betting funds to sustain long-term wagering. It involves setting unit sizes, limits, and staking plans (flat betting, proportional betting, etc.) to protect the bankroll from wild swings. Good bankroll management helps prevent chasing losses and promotes disciplined betting.

A term used in horse racing odds listings meaning 'and higher.' For example, if a race card shows odds for the top few horses followed by '10/1 bar,' it implies all other runners not listed are 10/1 or longer. It indicates the minimum odds among the remaining field.

Also known as a Super Yankee. A Canadian is a full-cover multiple bet on 5 selections, comprising 26 bets: 10 doubles, 10 trebles, 5 four-fold accumulators, and 1 five-fold accumulator. No singles are included. At least two selections must win for a return.

Bookmaking tic-tac slang for odds of 3/1. The term comes from old on-course hand signals. 'Double carpet' means 33/1. While not commonly used by modern bookmakers, these terms survive in racing lore and some veteran circles.

A feature offered by many sportsbooks allowing you to settle your bet before the event concludes. You can lock in a profit or cut losses by cashing out your bet early at the current offer price. The cash-out amount reflects the bet’s current likelihood of winning and will often be less than the full potential win (or slightly less than stake if losing).

Slang for the favorite, derived from when odds were written in chalk on betting boards. A “chalk player” or “chalk bettor” is someone who typically bets on favorites. For instance, if Team A is heavily favored, they are the chalk. (The opposite would be a longshot or underdog.)

When a gambler increases stakes or makes impulsive bets trying to recover previous losses. Chasing is considered a poor strategy, as it often leads to larger losses. Example: After losing two bets, someone might chase losses by placing a very large bet they normally wouldn’t, hoping to break even.

Refers to the Cheltenham Festival, a famous National Hunt (jump racing) meeting in the UK, or generally to the Cheltenham racecourse. In betting contexts, 'Cheltenham' often implies the big betting event of the Festival week, where terms like Non-Runner No Bet and extra places are common due to its popularity.

A game for which the sportsbook has lowered betting limits, often due to uncertainty or special circumstances (injuries, weather, rumors). On betting boards, such games might be 'circled' or marked. Bettors may find they cannot bet as much as usual on circled games.

The final odds or point spread for a game at the time betting closes (just before the event starts). The closing line incorporates all the latest information and betting action. Many bettors compare their bet (the line they took) to the closing line to gauge if they got good value (see Closing Line Value).

When two or more competitors finish tied in a position that matters for betting (e.g., a tie for first place or another paying position). In a dead heat, bets on the tied participants are typically paid at reduced odds. For instance, a two-way tie for first means a win bet is half-won and half-lost, so you'd get roughly half the payout.

Odds expressed in decimal format, common in Europe, Australia, and Canada. The figure represents the total payout for a 1 unit stake. For example, 3.50 odds mean a 1 unit bet returns 3.50 units (including the stake). Decimal odds of 2.00 are even money (double your stake). Converting: Decimal = (Fractional odds) + 1; 3/1 fractional = 4.0 decimal.

Short for 'degenerate gambler,' used humorously or critically to describe someone who bets compulsively or recklessly. Bettors might self-deprecatingly say 'I'm a degenerate' after making an absurd bet. It’s a tongue-in-cheek term within the community, not a clinical one.

American slang for a $1,000 wager. It denotes the size of the bet, not the odds. For instance, 'a dime on the Yankees' means a $1,000 bet on the Yankees. A 'dime line' is separate, referring to a moneyline with a 10-cent difference between sides (see Dime Line).

A betting line (usually in baseball or hockey moneylines) with a 10-cent straddle between the favorite’s price and underdog’s price. For example, -140/+130 is a dime line (the gap is 10). Dime lines offer better value to bettors than the more common 20-cent lines (-140/+120), as the bookmaker’s edge is smaller.

In pari-mutuel (tote) betting, the payout on a winning bet. The dividend is the declared return per unit stake after the pool is divided among winners. For example, a tote dividend of £6.50 for a £1 bet means winners get £6.50 payout for each £1 staked.

An accumulator with two selections. Both must win for the double to pay out. For example, a double might be a bet on Team X to win and Team Y to win; if both results come true, the bet wins (with combined odds). It’s the simplest kind of multiple bet.

A bet that covers two of the three possible outcomes in a match. Common in soccer, double chance lets you bet on (Team A or Draw), (Team B or Draw), or (Team A or Team B). Because it gives a wider safety net, the odds are shorter than betting a single outcome.

An each-way bet consists of two wagers on the same selection: one for it to win and one for it to place (finish in a top position, e.g., top 3). It is most common in horse and greyhound racing; if the selection wins, both the win and place parts pay out, and if it only places, the place portion pays out at a fraction of the win odds. (In the US, a similar wager is called a 'win/place' bet.)

Odds offered by a bookmaker in advance of an event, typically before on-site or live betting begins. Commonly used in horse racing, an early price lets bettors lock in odds earlier than the starting price (SP). Taking an early price can be advantageous if you anticipate the odds will shorten closer to the event.

A betting advantage one side has over the other. If a bettor 'has an edge,' it means their information or strategy gives them better odds of success than the bookmaker or other bettors. Finding an edge (for example, through superior analysis or mispriced odds) is key to achieving long-term profits in betting.

Odds that pay out exactly equal to the stake, effectively doubling your money on a win. Even-money odds are expressed as 1/1 in fractional odds, +100 in American odds, or 2.0 in decimal format. Also known as 'evens' (especially in UK usage), these odds imply a 50% chance of winning.

A wager in horse racing that requires picking the first and second finishers in the exact order. It is considered an 'exotic' bet because it goes beyond a simple win bet and offers higher payouts due to the difficulty. (In the UK, a similar bet is called a 'straight forecast.')

Any wager that is outside the realm of standard single-outcome bets (like a straight win, point spread, or total). In sports betting, 'exotic' bets often include proposition bets (props), parlays, and other specialty wagers; in horse racing, exotics include bets like exactas, trifectas, and superfectas. Exotics typically offer higher payouts but come with longer odds due to their complexity or multiple conditions.

A statistical metric used in football (soccer) to quantify the quality of scoring chances, representing how many goals a team should have scored given the opportunities created. While not a bet type, xG is popular in betting analysis as it helps gauge a team’s true performance beyond the actual scoreline. Bettors use xG to identify teams that may be overperforming or underperforming their underlying statistics.

The amount of money at risk on a bet or series of bets – essentially, how much one stands to lose. For a bookmaker, exposure refers to the potential loss on a particular outcome (if many bettors are on the same side); for a bettor, it might mean the total money they have wagered on pending bets. Managing exposure is important in gambling, as it involves balancing risk so that no single outcome can cause catastrophic loss.

The participant (team, horse, etc.) expected to win an event, carrying the lowest odds (and thus the smallest potential payout). The favorite is favored by bookmakers and bettors due to perceived superiority or public support. (In American English it’s spelled 'favorite,' while British English uses 'favourite.')

In betting, the 'field' can refer to all the competitors in an event apart from a designated favorite or standout. For example, betting 'the field' means you’re betting on any entrant except the favorite to win. It also refers to all the horses that run if the list of participants in a race or market pays out at a fraction of the win odds. (In races with many runners.)

A young female horse, usually under a certain age (commonly four years old or younger, depending on the racing code). Races may be restricted to fillies, and the term distinguishes younger females from older mares. Understanding terms like filly, colt, gelding, and mare is basic in horse racing betting, as they indicate age and sex differences that can impact race conditions.

Literally, the first horse to cross the finish line in a race. In some regions (notably the UK and Ireland), 'First Past the Post' also refers to a betting rule where bookmakers pay out on the horse that finishes first, even if it is later disqualified or demoted in the official result. This means bettors can still collect winnings if their horse was first at the post, regardless of subsequent stewards’ decisions.

A traditional betting format where the odds are agreed upon when the bet is placed, and the payout is based on those locked-in odds. Most sportsbook wagers are fixed-odds bets – once you place the bet, your potential return is fixed relative to your stake and the odds at that moment. This contrasts with pari-mutuel (pool) betting, where payouts depend on the distribution of all bets placed.

Horse races run on a level course without any jumps or hurdles. Flat racing is focused on speed and is distinct from jump racing (also known as National Hunt racing) which involves obstacles. Bettors often specialize in either flat or jump races, as horses and strategies may differ; classic events like the Epsom Derby or the Kentucky Derby are flat races.

A horse in its first year of life. All thoroughbred horses have an official birthday (for example, January 1 in the Northern Hemisphere), and a foal becomes a yearling on the next official birthday. Knowing a horse’s age category (foal, yearling, juvenile, etc.) is part of understanding racing form and which races the horse is eligible for.

A term for recent performance history of a team or athlete, often used to predict future outcomes. In horse racing, a horse’s form is typically listed as its recent finishing positions (e.g., 1-3-2 meaning a win, then third, then second place in its last three races). Good form (consistent high finishes) can indicate a strong contender, whereas poor form suggests a runner is out of sorts. Bettors study form charts to inform their wagers.

A male horse that has been castrated, often to improve its temperament and manageability for racing. Many racehorses are geldings since they won't be used for breeding; a calmer horse can focus more on racing. Bettors sometimes note if a horse is a gelding, but it’s mainly a basic racing term to describe the horse’s status.

In horse racing, the term "going" describes the condition of the racetrack surface, usually influenced by weather (for turf, it ranges from firm/good to soft/heavy; for dirt, from fast to muddy). The going can greatly affect race outcomes as some horses prefer firmer ground and others excel on soft ground. Bettors take the going into account because a change in surface condition can alter a horse’s performance prospects.

A colloquial expression meaning to pick the winner of every race on a single card (or every game on a given day’s schedule). If a tipster or bettor "goes through the card," they have managed an unlikely feat of correctly predicting all outcomes on that program. It’s used to highlight a perfect selection streak, typically in horse racing where a racecard might have six to ten races in a day.

A phrase indicating that horses are making their way from the paddock to the start (post) of a race. This period includes the warm-up as horses "go down" to the start; once at the starting gates, they may also "go in" to the stalls for flat races. "Going to post" means the race is about to begin, and racegoers often watch closely for any last-minute horse behavior or condition issues during this stage.

A slang term for one thousand units of currency. In betting contexts, saying “a grand” means £1,000 or $1,000 (depending on the currency in use). It’s a common informal expression, e.g., “He put a grand on the favorite” means a bet of 1000 currency units on the expected winner.

One of the most famous horse races in the world, held annually in England. The Grand National is a handicap steeplechase known for its large field, long distance, and challenging fences. It attracts many casual bettors and once-a-year punters due to its high profile and unpredictable nature. Picking the winner of the Grand National is notoriously difficult, which is part of its appeal and tradition in sports betting.

A specialized betting proposition typically offered in sports like hockey or baseball, involving the total combined runs/goals scored in all games on a given day for a league. For example, an NHL Grand Salami might ask whether the sum of goals from all hockey games that day will go Over or Under a certain number. It treats all games collectively as one betting market and is popular with bettors who want action on an entire slate of games.

Elite levels of horse races officially classified to signify high quality, often featuring top horses. In Europe and many other regions they are called Group races (Group 1, 2, 3 with Group 1 being the highest caliber), while in North America they are termed Graded stakes (Grade I, II, III). These races carry prestige and better prize money; bettors often focus on them because form lines from Group/Graded races are more reliable when top horses face each other under set conditions.

A slang phrase meaning a horse (or by extension, a team) won very easily, with a lot in hand. If a horse "hacked up" in a race, it means it won comfortably by a large margin and the outcome was never in doubt. Bettors use this term post-race to describe a dominant performance that required little effort for the victor.

A point spread or handicap of half a point/goal (0.5) given to one side, commonly seen in betting lines to avoid ties. For example, in an Asian handicap or soccer betting, Team A -0.5 vs Team B +0.5 means Team A must win outright for a bet on them to win (a draw would lose, benefiting Team B’s +0.5 side). The half-ball increment (the "hook") ensures there is no push (tie) – there will be a winner and loser for the bet.

The midpoint break of a game or match, when half of the allotted game time has been played (e.g., after 45 minutes in a 90-minute soccer match). Some bets are specific to the first half (half-time result or score), and understanding half-time is important for wagers like Half-Time/Full-Time bets or live betting adjustments. It’s also when teams regroup and devise second-half strategies, which can affect momentum for bettors considering in-play bets.

A style of wagering designed to level the playing field between uneven teams by giving one side a virtual head start. Also known as the point spread in American sports, handicap betting involves adding or subtracting points/goals to a team’s actual score for betting purposes. For instance, if a football team is -7.5 points, they must win by 8 or more to cover the spread; their opponent at +7.5 can lose by up to 7 and still cover. This allows bookmakers to offer near even odds on games that have clear favorites.

In betting parlance, this term has two meanings: (1) a person who studies and analyzes sports or races to predict outcomes (e.g., a professional bettor or tipster who “handicaps” a game), and (2) in horse racing, an official or system that assigns weights to horses in a handicap race to balance their chances. In both cases, the goal of a handicapper is to level differences – either by identifying the true odds of outcomes or by setting conditions that even the competition.

In horse racing, an official numerical rating assigned to a horse based on its ability, used to determine the weight it will carry in handicap races. A higher handicap mark means the horse is considered better and thus must carry more weight to even the competition. These ratings are updated regularly as horses win or lose. Bettors examine handicap ratings (often published on race cards) to assess how horses compare, especially when moving into handicap races after competing in non-handicaps.

A race in which each horse carries a weight determined by the handicapper to give all participants a theoretically equal chance of winning. Better horses carry heavier weights and less accomplished horses carry lighter weights. For bettors, handicap races can be tricky because the field is intentionally evened out – a well-handicapped race means many contenders could have a realistic chance if the weights work as intended.

The total amount of money wagered on a particular event, series, or at a particular venue or sportsbook. For example, the "handle" for the Super Bowl refers to the sum of all bets placed on that game. It’s a measure of betting volume and interest, but not to be confused with revenue or profit (which would be the hold or margin the bookmaker makes from that handle after payouts).

The Independent Betting Adjudication Service – a UK-based third-party organization that settles disputes between bettors and gambling operators. IBAS provides impartial adjudication to resolve customer complaints in regulated betting markets.

The International Betting Integrity Association – a global not-for-profit industry body that monitors and reports suspicious betting patterns to combat match-fixing and corruption in sports betting. Founded in 2005 (as ESSA), it works with regulators and sports organizations to protect betting integrity.

A conditional multi-part wager where a subsequent bet only proceeds if the preceding bet wins. Unlike a standard parlay, an “if bet” allows bettors to carry over stake or winnings to the next selection only on success, thereby limiting risk on losing legs.

The likelihood of an outcome occurring as reflected by the betting odds. Bettors convert odds into an implied probability (percentage) to gauge if a wager has value – for example, odds of +200 imply a 33.3% chance of winning.

An industry term for online gambling in all forms – including internet sports betting, online casinos, and other remote gaming. The iGaming sector encompasses any gambling activity conducted via the internet or digital platforms.

Wagering on a game or event after it has started, with odds updated live as play unfolds. Also known as live betting (US) or in-running (UK), this allows bettors to react in real time to game momentum and changing conditions.

A phrase meaning overall profit – to be “in the black” is to have a positive balance or net winnings. In betting or finance, profits were traditionally recorded in black ink (as opposed to red for losses).

In wagering and racing, a term indicating a finish or result that yields a payout. For example, a horse placing in the top three is “in the money,” meaning it earned prize money or caused place bets to win. More generally, a bet “in the money” is one that is winning or profitable.

A type of pool bet (especially in horse racing) in which bettors must pick the winners of a series of races or events to win a cumulative prize. If no one succeeds, the jackpot pool rolls over to the next day or event, often growing significantly. For example, a racing jackpot might require selecting six winners; hitting the “jackpot” yields a large payout from the pooled stakes.

When two contenders share the status of favorite with identical odds in the same market. In such cases (common in horse racing), they are called joint favourites (UK) or co-favorites. If three or more participants are equally favored, they may be referred to as co-favorites.

UK slang for the favorite in a betting market. Punters might say “the jolly” when referring to the short-priced horse or team expected to win. (Synonym: chalk, chiefly US slang for a heavy favorite.)

The bookmaker’s commission on a bet, also known as the vigorish or “vig.” It’s the built-in fee that ensures the book’s profit, typically around 5–10% on standard odds. For example, at -110 American odds the extra -10 is the juice the sportsbook charges for taking the wager.

A prop wager on which team will gain possession on the opening jump ball (tip-off) in a basketball game. This niche bet, usually around even odds for each side, is settled at the very start of the game when the first possession is determined.

A colloquial term for certain progressive betting systems where one continues increasing bets until showing a profit. Often associated with strategies like the Martingale (doubling bets after losses), the idea is to “keep betting” larger amounts so that a win recovers prior losses.

A mathematical bankroll management formula used to determine optimal bet size based on edge and odds. The Kelly Criterion maximizes long-term growth by suggesting one wager a fraction of their bankroll proportional to the perceived value advantage, thereby balancing risk and reward.

In point spread betting, a highly common margin of victory that has outsized importance. Key numbers (especially in NFL betting, like 3 or 7 points) represent frequent winning margins, and sportsbooks set or move lines carefully around them. Bettors value half-point differences around key numbers since they greatly impact bet outcomes.

A particular statistic identified as especially predictive or influential for a given matchup or wager. Savvy bettors focus on key stats (e.g. turnover differentials, pitching ERA, etc.) that can signal betting value, using those metrics to inform their selections.

Wagering on specific outcomes of the opening kickoff in a game (typically American football). Examples include props like “Will the opening kickoff result in a touchback?” or “Will the first kick be returned?”. These bets are settled immediately after the kickoff play.

A conditional wager that only activates (“knocks in”) if a predetermined condition is met. Common in live betting, a knock-in bet might be placed so that it becomes live only if, say, an underdog takes a lead. If the condition never occurs, the bet is void (no action).

A multiple bet (accumulator) consisting of selections from the knockout stages of a tournament. For example, a knockout accumulator might include all quarter-final winners of a World Cup. All picks must win for the acca to pay out, and all matches are in the elimination round, often yielding higher combined odds.

Any wager placed on a match or outcome in the knockout (elimination) phase of a competition. These include bets on quarter-finals, semi-finals, finals, or playoffs where loser-out stakes are high. Often, special markets (like “to advance” bets) appear for knockout stage games, which can include extra time or shootouts.

A surge of bets placed just before an event begins, often by sharp bettors, which can significantly shift the odds. Late money coming in on one side (e.g. a horse’s odds dropping close to post time) is viewed as informed action and can be an indicator of insider confidence or last-minute information.

To lay a bet means to wager on something not to happen. Common in betting exchanges, a lay bet makes you effectively the bookmaker – for example, laying a team to win means you collect the stake of backers if that team loses (but pay out if it wins). Layers take on liability, needing sufficient funds to cover potential payouts.

A football trading strategy where you lay the draw outcome in a match (bet that no draw will occur) and then look to back the draw or cash out after a goal is scored. By “laying the draw” at kickoff and hoping for an early goal by either team, traders aim to secure a profit from the ensuing odds movement (since the draw becomes less likely after a goal).

A bet a bookmaker places with another bookmaker or exchange to offset risk on a particular outcome. If a book has heavy exposure on one side of a game, they might lay off some amount so that another book takes that action. For bettors, “laying off” can also refer to hedging a bet to reduce potential losses, but in bookmaking it’s a standard risk management practice.

Slang for betting on the favored team in a point spread and thus “giving up” points. For example, if a football favorite is -6.5, a bettor laying points on that team needs them to win by 7 or more to cover the spread. It’s the opposite of taking points (betting the underdog with the spread in your favor).

Taking the short-priced side of a moneyline bet, i.e. wagering on the favorite and accepting lower return odds. When you lay the odds, you risk more to win less (for instance betting $150 to win $100 on a -150 favorite). It’s the opposite of taking the odds (backing the underdog at higher payout).

UK term for a brick-and-mortar betting shop operating under a government license. An LBO is essentially a retail bookmaker’s premises where the public can go to place bets on sports, racing, or other events. This contrasts with online betting; the term is chiefly used in the UK and some Commonwealth countries.

A performance metric indicating the profit or loss achieved if a bettor had wagered the same fixed amount (level stake) on each selection. Often used in tipster records, LSP shows what one unit on every tip would return. A positive LSP means a tipster or system is in profit when all bets are treated equally, which helps eliminate the distortion of varying stake sizes.

A wager on the margin of victory in a contest, often picking an exact range or number of points/goals by which one team will win. For example, in Australian betting you might back a team to win by 1–39 points (a common margin market), meaning your bet succeeds if the victory falls within that range.

A term for a betting category or specific wager type offered on an event. For example, the point spread, moneyline, and over/under are three different markets on the same game (each one representing a distinct betting option).

A betting system where the bettor doubles their stake after each loss, aiming to recoup all losses with one eventual win. Popularized in casino play but sometimes attempted in sports betting, the Martingale is extremely risky – it assumes an unlimited bankroll and no bet limits, so a prolonged losing streak can lead to enormous stakes and potential ruin.

A strategy that uses free bets and promotions to guarantee profit by covering all outcomes of an event (often by also betting on an exchange). Popular in the UK/AUS and sometimes called “bonus arbitrage,” matched betting doesn’t rely on picking winners – it exploits bookmaker offers, allowing bettors to lock in risk-free gains if executed correctly.

When a bettor places opposite bets on the same game at different lines, hoping the result lands in the “middle” of the two and wins both bets. This tactic, known as “middling,” takes advantage of line movements or discrepancies (e.g. bet a favorite at -3 and later an underdog at +4; if the favorite wins by exactly 4, both bets win). It’s an advanced way to try to win both bets; at worst you typically split (one win, one loss) and lose only the vig.

A straight-up bet on which team or player will win a game or event, with no point spread involved. Also known as a match result bet (UK) or a head-to-head bet (AU), moneyline wagers use odds to determine payouts – favorites are denoted with a “-” (e.g. -150 means you bet $150 to win $100) and underdogs with a “+” (e.g. +130 means a $100 bet yields $130 profit).

UK betting slang for a £500 stake (approximately $500). It’s the British counterpart to the U.S. term “nickel,” which also means a $500 wager.

A gambler who is considered bad luck – someone whose bets or mere presence seem to “jinx” the outcome. Often used humorously or in superstition, calling someone a mush implies that whatever they bet on will lose (the term gained fame from the film A Bronx Tale, referring to a notorious bad-luck bettor).

A term in UK betting (especially horse racing) for a tipster’s most confident pick of the day – essentially their top tip or “best bet.” Originating from the card game Napoleon, a nap is the selection the tipster believes has the strongest chance to win out of all their tips.

Slang for a $500 bet in US betting circles. In UK slang this amount is called a “monkey” (referring to £500); both terms denote the same stake size of five hundred in their respective locales.

When a wager is canceled and refunded, as if it were never placed. Bets are graded “no action” if an event doesn’t occur or certain conditions aren’t met – for example, a game that gets rained out, or a player prop bet where the player doesn’t participate will typically result in no action (your stake is returned).

Any wager on a non-traditional or unconventional event, often outside the realm of core sports outcomes. Also known as a “special” in some regions, a novelty bet can be on entertainment or offbeat topics (e.g. the winner of a reality TV show, political election results, or quirky Super Bowl props like the coin toss).

The numerical expression of the likelihood of an outcome, which also determines how much a bet pays. Odds can be presented in various formats – common ones are fractional (e.g. 2/1), decimal (3.0), or American moneyline (+200) – but all indicate the probability of an event and the payout relative to the stake.

A promotion where a sportsbook offers enhanced odds on a specific bet, increasing the potential payout. For example, a fighter’s moneyline odds might be “boosted” from +150 to +200 for a promotion. Odds boosts give bettors better value on certain selections (usually with a stake limit) and are used to attract interest and action.

Describes a strong favorite with odds shorter than even money (less than 1/1, meaning you win less profit than you stake). An “odds-on” selection is expected to win – for example, a horse at 1/2 (decimal 1.5, American -200) is odds-on, so a $100 bet would net $50 profit. The opposite is odds-against, referring to an underdog with odds longer than evens (e.g. 2/1, +200) where the potential profit exceeds the stake.

The person or organization that sets the betting lines and odds for events. Also called a linemaker, an oddsmaker uses expertise and data to establish point spreads, totals, and prices that aim to balance bettors’ action on all sides.

When a sportsbook has removed a betting line, meaning you can no longer place a wager on that event or outcome. A game might go off the board due to unforeseen changes or uncertainties – for instance, a late injury, bad weather, or other news – and the book will repost odds later if appropriate.

A futures bet on the overall winner of a tournament, league, or competition rather than on a single game. Commonly used in international markets (UK/EU), an outright wager might be picking a team to win the championship (e.g. betting before the season on who will win the Premier League or World Cup).

A situation where the odds offered are higher than the true probability of an outcome, giving the bettor an edge (a “value bet”). In other words, an overlay means the sportsbook’s line is overly generous to one side – sharp bettors seek these instances of positive expected value, as consistently betting overlays can be profitable long-term.

The bookmaker’s margin built into a market, where the sum of the implied probabilities of all outcomes exceeds 100%. Also known as the book’s edge or vigorish, the overround ensures the house has an advantage. For example, in a two-outcome market a fair 100% book is 50/50, but a book might offer odds like 1.91 / 1.91 (-110/-110), which total roughly 105% – that extra 5% is the overround (the book’s expected profit).

A betting system in which all bets of a particular type are pooled together, and the payoff odds are calculated by sharing the pool among all winning tickets (minus the house take). Common in horse racing and tote betting, pari-mutuel wagering means the odds aren’t fixed when you place the bet – they fluctuate until the pool closes, and winners are paid out from the pool rather than against the house.

A single bet that links together multiple picks, all of which must win for the parlay to cash. Known as an accumulator (Acca) in the UK or a multi in Australia, a parlay offers higher payouts by multiplying odds, but it’s higher risk – if any one leg loses, the entire bet loses.

Making a bet after the event has started or after knowing the outcome – essentially betting after the bell, which is cheating. Any wager inadvertently accepted after the cutoff (due to error or delay) is voided as “past-post,” since it gives the bettor an unfair advantage.

A type of full-cover multiple bet consisting of 7 bets on 3 selections: it includes 3 singles, 3 doubles, and 1 treble. Popular in UK betting, a Patent guarantees a return if at least one selection wins (unlike a straight parlay where all must win), but requires a higher total stake (7 units for 3 picks). It’s one of several combo-bet formats (others include the Yankee, Lucky 15, etc.) designed to spread risk across multiple outcomes.

A game or betting line with no favorite or underdog – both sides are essentially even money. On a pick ’em (sometimes shown as “PK”), the point spread is 0 for both teams, so you’re simply picking the winner straight up.

A wager that, like a reverse teaser, makes the bet harder to win in exchange for a larger payout. In a pleaser (offered by some sportsbooks), you parlay multiple teams but give away points on each line – for example turning a +3 underdog into -3. Because you’re moving the spreads against yourself, pleasers have long odds and high potential returns if all legs cover the adjusted spreads.

An illegal practice where players intentionally underperform to manipulate the point spread, without necessarily trying to lose the game outright. The goal in point shaving is to win by less (if favored) or not cover the spread, so that bets on the underdog pay out. It’s a form of match-fixing strictly prohibited in sports, with severe penalties when uncovered.

A handicap number set by oddsmakers to level the playing field between two teams for betting purposes. The favorite “lays” points (e.g. -7 means the favorite must win by more than 7 to cover) and the underdog “gets” points (e.g. +7 means the underdog can lose by up to 6 or win outright to cover). Point spread bets focus on the margin of victory rather than just who wins, and they typically carry roughly equal odds on each side (like -110) to encourage balanced action.

An Australian term for a type of pari-mutuel bet where the goal is to pick the winners of four designated races (often the last four races of a meet). Short for “quadruple,” a Quaddie is essentially a four-leg accumulator in horse racing pools and can yield a big payout given the difficulty of nailing all four winners (the pool is split among all successful tickets).

A wager on the outcome of a specific quarter of play in a game (rather than the full game). Sportsbooks offer quarter lines in basketball and American football, allowing bets just on the 1st, 2nd, 3rd, or 4th quarter – for example, you might bet the 1st quarter spread or over/under, treating those 15 minutes (football) or 12 minutes (NBA) as a mini-game of its own.

A wager in horse racing where you pick two horses to finish first and second in either order. A quinella wins if your two selected horses take the top two spots (unlike an exacta, which requires picking the precise 1-2 order). Because order doesn’t matter, quinellas typically pay less than exactas, but they offer a higher chance of cashing since the two horses can finish in any order at the wire.

The section of a sportsbook (or a dedicated book) that takes bets on horse racing. A racebook offers wagering on horse (and often greyhound) races, including standard win/place/show bets and exotics. In many casinos and online platforms, the racebook is separate from the sports betting area, catering specifically to racing enthusiasts.

Lower-than-standard vigorish on a bet, meaning the sportsbook’s commission is discounted. For example, a book offering NFL sides at -105/-105 instead of the usual -110 is a reduced juice book – you risk less to win the same amount. Reduced juice gives the bettor a better price and improves long-term chances of profit since the cost of placing bets is lower.

When a betting line moves in the opposite direction of the betting percentages due to sharp action. In practice, it means the odds or point spread shifts against the side that a majority of the public is betting on – indicating that larger or smarter (sharp) bets have come in on the other side. For example, if 70% of bets are on Team A -6 but the line drops to Team A -5, that reverse movement suggests influential money went on Team B.

A popular sportsbook promotion where your first bet is “insured” up to a certain amount – if you lose, you get a refund (often paid in site credit or a free bet). For instance, a $500 risk-free bet means if your first wager (up to $500) loses, the sportsbook will credit you $500 back. It’s not truly cash risk-free (since refunds typically can’t be withdrawn and must be re-bet), but it cushions your initial loss.

Stands for Return on Investment – a performance metric that measures profitability as a percentage of money invested (wagered). In betting terms, ROI is calculated as (Net Profit / Total Amount Staked) × 100. For example, if you wagered $1,000 in total and ended up $100 ahead, your ROI is 10%. This metric lets bettors evaluate efficiency and compare results regardless of stake size.

A wagering requirement attached to bonuses or promotions, indicating how many times you must bet through the bonus (and sometimes deposit) before withdrawing. For example, a 5× rollover on a $100 bonus means you need to place $500 worth of bets before you can cash out any winnings from that bonus. It prevents people from withdrawing bonus money without engaging in betting, and higher rollovers make it tougher to realize a bonus as cash.

A unique number assigned by the sportsbook to each team or bet on the odds board, used primarily in physical sportsbooks for clarity. Bettors refer to this number when placing bets at the counter. For instance, you might say “#202 for $50” to bet $50 on the team labeled with rotation #202. It’s a quick way to identify your pick without confusion, as the numbers correspond to the printed roster of games.

A way to bet multiple parlays at once by automatically combining a set of selections in every possible parlay combination. For example, if you have three teams (A, B, C) and do a round robin “by 2’s,” it creates three separate 2-team parlays: A+B, A+C, B+C. You can also include larger combinations (like 3’s, which would in this case just be the one parlay A+B+C). Round robins allow partial wins – even if one pick fails, some parlays might still cash – but you pay for each combination, so the total stake is higher.

An advanced betting strategy in which a bettor exploits slight differences in odds across sportsbooks by betting both sides of a game to lock in a small, virtually risk-free profit. It is essentially a form of sports arbitrage, requiring quick trades before lines move.

A popular football (soccer) wager that combines two bets into one: predicting the exact final score and the specific player to score the first goal. These bets offer high payouts due to their difficulty and are mainly offered by UK and European bookmakers.

Slang for a bettor who patiently waits for an ideal opportunity (such as a mispriced line or insider info) and then places a large wager. A scout often bets infrequently but decisively, capitalizing on what they deem “sure” value situations.

A wager placed on the outcome or statistics of the second half of a game only, ignoring what happened in the first half. Second-half bets are typically made during halftime (in-game) and are settled based solely on second-half results (including overtime if applicable).

An option in point spread betting where a bettor gives away additional points to the spread in exchange for better odds (a higher payout). By “selling points” (the opposite of buying points), the bettor takes on more risk (e.g. a larger margin to cover) but is compensated with more favorable betting odds.

A colloquial term for a highly skilled or professional sports bettor who consistently makes knowledgeable, value-driven wagers. “Sharps” (also known as wiseguys) are respected by bookmakers for moving lines with their bets and are essentially the opposite of a Square, the novice recreational bettor.

A basic horse racing wager where you bet on a horse to finish in the top three (i.e. to either win, place, or show). Common in North America, a show bet offers lower risk and smaller returns since it cashes if the horse comes 1st, 2nd, or 3rd.

A bet placed on one single outcome or selection. It must win for the bettor to get a payout. Known as a “straight bet” in the US and simply a “single” or “win bet” in the UK, this is the simplest and most straightforward type of wager.

A phrase used in point spread betting meaning to bet on the underdog and receive the given points. If you “take the points,” you are backing the team +X on the spread (for example, +7.5 underdogs in football). This means your team can lose by up to that margin (7 points in this case) and your bet still wins. It’s the opposite of Laying Points, which refers to betting the favorite and giving away points.

A gambling slang for losing one’s entire bankroll or available funds. When a bettor has “tapped out,” it means they’ve spent all their money (often as a result of a bad losing streak) and can’t continue betting. The term comes from poker/gambling vernacular, implying you’re knocked out of action financially.

A special type of parlay bet (mostly in North America) that allows you to adjust point spreads or totals in your favor, in exchange for a lower payout. In a teaser, you typically move each line by a fixed number of points (e.g. 6, 6.5, or 7 points in football) across all games in the parlay. For example, if two teams are -10 and -8 favorites, a 6-point teaser would adjust them to -4 and -2; you’d need both adjusted lines to cover to win. Teasers can be enticing to bettors because they make each leg easier to win, but the added cushion comes at the cost of reduced odds.

Odds on a market with three possible outcomes, most commonly referring to the 1X2 betting in soccer (home win, draw, or away win). In a three-way market, if you bet a team to win and the match ends in a draw, your bet loses (unlike two-way odds where a draw would be a push). Many international sports and markets (like regulation time hockey bets or certain props) use three-way odds, requiring bettors to consider the possibility of a draw/tie in their wager.

A traditional method of hand signaling used by on-course bookmakers to communicate odds at horse racing tracks in the UK. In tic-tac, a “tic-tac man” uses various arm and finger positions to silently convey prices (odds) to other bookies across the ring (for example, touching the head might signal 9/4 odds). It’s a bit of betting folklore and a dying art in the age of digital communication, but remains an iconic part of old-school bookmaking culture.

Proof of a placed bet, usually referring to the physical or digital bet slip issued by a sportsbook. A ticket (or bet slip) shows your wager details – such as the selection, odds, stake, and potential payout – and is needed to claim winnings. In online betting, your “ticket” is essentially the confirmation of your bet in your account history.

A betting suggestion or piece of advice on who or what to bet on. A tip often comes from someone who is presumably knowledgeable (a friend, an insider, or a Tipster) and is basically a recommended pick. For example, a horse racing enthusiast might give you a “hot tip” on a horse they fancy to win a race.

A person who provides betting tips or predictions, potentially for a fee or subscription. Tipsters (common in the UK and Europe) might specialize in certain sports or markets and publish their advised bets. In the US, a similar concept is often referred to as a Tout or handicapping service. Quality tipsters base their tips on research or expertise, but as always, there are no guarantees in sports betting.

Extremely low odds on a favored outcome, considered too short to justify any reasonable profit given the risk. In other words, the favorite is so heavily favored that many bettors “won’t touch it.”

A wager that the total points/goals in a game will be less than a specified number. This is one side of an over/under (total) bet, often called “betting the under.” (In casual UK/AUS usage, bettors say a game “went unders” to mean it fell below the total.)

Refers to bets or payments made off the books and outside legal channels – essentially, illegal or unreported gambling. Under-the-table betting circumvents taxes and regulations, and thus carries legal risk.

The team or competitor expected to lose, often indicated by higher odds (e.g. “+” moneyline). Betting on the underdog can yield larger payouts. In UK/AUS, an underdog may be called an “outsider.”

A situation where the odds are shorter than the true probability would merit, favoring the bookmaker. In other words, the payout is low relative to the risk. (Opposite of an overlay, which benefits the bettor.)

A rare scenario in bookmaking where the total implied probability of all outcomes is under 100%. An “underround book” (also called overbroke) would theoretically allow bettors to profit (e.g. via arbitrage). Sportsbooks avoid this – a normal book has an overround (＞100%) to ensure a margin.

A dark-humored term for a bookmaker reputed to only take bets on “dead ’uns” (sure losers). In other words, an undertaker-bookie is happy to lay bets on outcomes that have virtually no chance, effectively burying bettors’ money.

A complex UK multiple bet involving 9 selections arranged in a 3×3 grid, yielding 8 different trebles (three-leg parlays). Only the specified combinations (rows, columns, diagonals) are bet, rather than all 84 possible trebles – it’s an advanced way to group wagers.

A wager where the odds are better (higher) than the true probability of the outcome warrants. In other words, it’s a bet with a positive expected value – the potential payoff is high relative to the risk. Identifying value bets is key to long-term profit.

A statistical measure of how much results fluctuate around the expected outcome. In betting, variance explains the short-term ups and downs (winning or losing streaks) that deviate from one’s true edge. Higher-variance bets (e.g. parlays or long shots) have more volatile swings.

A tongue-in-cheek term in hockey and other sports for the tendency of visiting teams in Las Vegas to underperform, presumably due to the city’s distractions (late-night partying, etc.). The “Vegas flu” implies players aren’t at peak performance after enjoying Vegas’s nightlife.

Refers to the prevailing betting odds or point spread set by major Las Vegas sportsbooks. The “Vegas line” is often considered the industry standard or consensus line. (Even outside Nevada, people say “What’s the Vegas line?” to mean the current odds on a game.)

Also known as vig or juice, this is the bookmaker’s commission built into the odds. For example, in standard -110 odds, the extra 10% is the vig. It’s how sportsbooks ensure profit – you pay the vig on losses (and it’s why payouts are slightly less than true even-money).

A loyalty or high-roller program offered by sportsbooks to reward big bettors. VIP (Very Important Person) perks can include bonus bets, better odds, higher limits, dedicated support, and other exclusive benefits. (Also called a VIP club or loyalty scheme.)

Computer-simulated sporting events (e.g. virtual soccer, racing, etc.) on which people can bet, popular especially during off-hours or when live sports are unavailable. These events use RNG-based outcomes and run every few minutes. (In the UK, simply called “virtuals.”)

A wager canceled as if it never happened – stakes are refunded. Bets are voided for various reasons: a game is postponed or ends in a draw/tie that wasn’t offered, a player doesn’t play (for certain props), etc. “No action” is the term often used in the US for a voided bet.

Another word for a bet – any money placed on an outcome of a contest or event. “To wager” is to risk money on a prediction. (In casual speech: “action.” Example: “Do you have a wager on the game?” simply means a bet.)

A condition (typically on bonuses or free bets) that requires a bettor to roll over or bet a certain amount before withdrawing funds. For example, a 5× wagering requirement on a $50 bonus means $250 in bets must be placed before any winnings can be cashed out.

A contest won automatically because the opponent fails to start or complete the event (common in tennis and horse racing). In a walkover, one side “wins” by default. Sportsbooks typically void bets on walkovers or treat the non-starting player/horse as a scratch, returning bettors’ stakes.

A betting line that is considered inaccurate or soft, potentially allowing bettors to exploit it. A “weak line” might occur if a bookmaker is slow to adjust odds or lacks expertise in a niche market. Sharps seek out weak lines to get bets down before they move.

To renege on paying a gambling debt or bet that you lost. A person who does this is called a “welcher.” (E.g. “Don’t bet with him – he welched on me last time.”) Usage Note: The term is old slang; avoiding it is advised by some due to potential ethnic offense.

A colloquial term for a high-stakes gambler. A whale (or high roller) wagers huge sums, often at VIP levels. In sports betting, whales can move lines with their bets. (In contrast, a small-stakes casual bettor might be jokingly called a “minnow.”)

A football (soccer) bet that a team will win the match without conceding a goal. To cash a Win to Nil bet, your chosen side must win and keep a clean sheet. For example, “Team A to win to nil” means Team A wins 2-0, 1-0, etc. If the opponent scores, the bet loses even if Team A wins.

A season-long over/under wager on the number of wins a team will achieve, set by the bookmaker. For example, a team’s win total might be 8.5 – you can bet over (9 or more wins) or under (8 or fewer wins). Win totals are popular futures bets in sports like NFL, NBA, etc.

An unpredictable element or player that could affect the outcome of a game in a significant way. Bettors talk about an X-factor as a wildcard variable – for example, a streaky scorer, weather changes, or an intangible motivator that isn’t fully reflected in the odds.

A proposition wager that spans multiple sports in one bet. Also called a cross-sport prop, it might pair outcomes from different games or sports into a single bet. For example, “Will Team A win their game and Player B in another sport go over 30 points?” Such bets are popular during big events (e.g. Super Bowl cross-sport props).

A popular British multiple bet consisting of 11 bets on 4 selections (specifically: 6 doubles, 4 trebles, and a four-fold accumulator). Any two or more winning picks yield a return, with all four winning yielding the maximum payout. The Yankee’s structure spreads risk across combinations.

A tongue-in-cheek term for the slight odds markup (overround) that bookmakers add when framing lines on hugely popular teams. For instance, a famous team like the New York Yankees or Dallas Cowboys might have slightly worse odds than pure math suggests, because bookies know casual fans will bet them anyway.

A metric indicating the percentage return on stakes over time. It is calculated as profit divided by total amount wagered, then multiplied by 100%. For example, a profit of $50 on $1,000 wagered is a +5% yield. Yield (essentially ROI) helps compare betting results regardless of stake size.

A bold, “You Only Live Once” wager made for the thrill, often risking a lot on a long shot. A YOLO bet is typically not grounded in careful analysis but in the bettor’s desire for a big payoff or excitement. (e.g. a bettor throws their whole bankroll on a huge underdog in one go – a true YOLO move.)

A nickname for referees or officials in sports, based on the black-and-white striped uniforms (especially in American football and hockey). Bettors might say “The zebras made a bad call.” Note: It’s a lighthearted term; officials are neutral parties but often enter betting conversations regarding controversial decisions.

A situation in which one party’s gains equal the other’s losses. Traditional betting between two people is a zero-sum game (your win = the other’s loss). However, sports betting with a bookmaker is not strictly zero-sum because of the vig – the book’s cut makes it a negative-sum game for bettors collectively.

A betting angle for playoff series (especially NBA/NHL) that says to back the team that just lost the previous game. The idea: in a best-of-7, teams alternate wins after losses due to increased motivation and adjustments. For example, if Team X loses Game 1, the zig-zag theory would suggest betting Team X in Game 2. (Its effectiveness is debated, and sportsbooks account for it in the odds nowadays.)