top of page

Sports Betting Glossary

Sports betting legalization has exploded over the last few years. When I jumped into sports betting in 2015, there was no resources. Fortunately I stubbled into a group of famous handicappers and they gave me guidance. Taking it upon myself, I feel the need to give back to the next generation of handicappers. These are terms you must know to have any level of success in this industry.

  • Moneyline - taking a team to win the game outright. Very simple team A just needs to beat team B. Example Line -125 Dodgers

  • Spread/Runline/Puckline - taking a team to win by or be within a certain amount of points set by Vegas. Runline (baseball and Puckline (hockey) will be set at -1.5 for all matches. Example Line -4.5 Broncos +4.5 Cardinals

  • Total - total combined score of both teams. Example Clemson vs. Oregon 62.5

  • Hook - the half point at the end of a line. When a line has a hook, bettors can not push. Example -7.5 Grizzlies

  • Alternate Lines - odds that are lower or higher than the common line. The price adjusts according to the direction of the line change.

  • Action - odds that are higher or lower than the posted main lines

  • Laying the Points - this term is used in conjunction with the spread. This is used when you are taking the favorite to cover the spread. Example "I'm laying points with the Broncos."

  • Taking the Points - this term is used in conjunction with the spread. This is used when you are taking the dog to cover the spread. Example "I'm taking the points with the Cardinals."

  • Chalk - refers to the favorite. This team will be listed with - sign.

  • Underdog(Dog) - refers to the not favored. This team will be listed with a + sign.

  • Pick'em - neither side is favored. Odds are identical on either side.

  • Over - this term is used in conjunction with the total. Referring to the total points in a game above the line given.

  • Under - this term is used in conjunction with the total. Referring to the total points in a game going below the given line.

  • Parlay - a single bet that combines multiple bets inside. (All bets must win or push for parlay to cash)

  • Teaser - taking multiple games in a parlay and moving the line in a more favorable direction. Giving each team or total extra points. This does lower the odds.

  • ATS - Against the Spread, when a team covers or does not cover a spread.

  • Three-way Odds - odds that have three wagering options, including ties.

  • Bankroll - the amount of funds that a person is willing dedicate to gambling.

  • VIG - Vigorish/Tax/Juice This is the "fee" you pay to place the wager. -110 the -010 on the end is the fee you are paying the book to place that wager. Vegas isn't a charity. This is how they hold an edge over the bettor. (BettorEdge does not have this)

  • Unit - percent of your bankroll that a bettor uses to place on a bet. Traditionally a unit is 1% of the bankroll. Some will use between 2-5%

  • Implied Probability - Converting betting odds to a percentage. To calculate: (1/ decimal odds) * 100 = implied probability

  • Book - place that gives lines and accepts wagers.

  • Line - the odds given for each game.

  • Linemaker - Also known as an oddsmaker. These are the people who "set/decide" the line.

  • Handle/Purse - total amount of money accepted on a single game/event.

  • Push - also a tie. If a wager is on a whole -7 Packers or UGA vs BAMA Total 64, when the final score lands on that number, that wager is returned.

  • Sharp - A professional bettor who has resources and larger bankrolls than the common bettor.

  • SOS - Strength of Schedule

  • EPA - Expected points added is an advanced metric used to determine the true strength of a position group in football. It values play by play success more than yards or points.

  • EV - Expected Value, what a bettor can expect to win/lose with the same odds over time per each wager +EV means long term positive value, -EV means long term negative value. (Amount won per bet * probability of winning) – (Amount lost per bet * probability of losing)

  • Closing Line - final line before the game starts. After the closing line is given, you will only be able to bet live odds.

  • CLV - Closing Line Value, when a wager moves in the bettors favor. Example Wager placed -120 Chargers, the line grows and closes at -170. The implied probability for 62.96% – 54.55% = 8.41%

  • Edge - having an advantage not publicly known, statistical or early news.

  • HFA - Home Field Advantage handicappers have to decide how much HFA is considered in the spread. NFL traditionally is worth -2 in the toughest stadiums. Not all HFA is equal.

  • Exotic Bets - any wager that is out of the 3 major lines, money line,spread, total. Parlays, player props or game props are common exotic wagers.

  • Live Betting - wagers placed once the game/event has started.

  • Middle - having a bet on both sides of the line that cash.

  • OFB - Off the Board, when a game is no longer able to take on money because of injuries, weather or other factors.

  • Rotation Number - number given to each wager on the board. When at a book, bettors need to use the rotation number to rather than the team name/s to place a wager.

  • Steam - odds that have rapid change based on large money from sharps coming in.

  • Arbitrage - having odds on two sides of the line to cover the wager or a positive outcome. These often are hard to find because the books typically move together.

  • YPP - Yards per play

  • YPPT - Yards per point

Related Posts

Bình luận

bottom of page