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Betting odds terms

TheLines has got you covered. Accumulator — This is similar to a parlay in that it involves a series of bets in one wager. Each of the bets must win in order for the wager to win. If one leg of an accumulator loses the wager loses. Alternate Lines — All sportsbooks offer lines point spreads on sporting events.

Some sportsbooks may offer different or alternate point spreads that pay different odds for the same game. These provide bettors more options to wager on certain games. American Odds — American odds are displayed differently than the rest of the world. Outside of the US, the same odds might be presented with a decimal point or by a fraction.

The bettor takes home the same amount of money if the wager wins. This is best done with moneyline or futures wagers in the US and will usually take place across multiple sportsbooks. This form of betting was started in Asia. Backdoor Cover — This is a popular term for a team that covers a point spread late in a game.

The team with the late cover may or may not affect the actual result of the game, just the wager. Banker — A banker is a European wager similar to a round robin bet in the US. Beard — This is a person who places a wager for another person who wishes to remain unknown. Betting Exchange — A betting platform where people wager against one another instead of betting against a sportsbook.

The exchange operator takes a small percentage of winning wagers. This is often seen as the most efficient market for sports betting. Betting Unit — A betting unit is the amount of a typical wager. Bettors may have different sized bankrolls and a unit is a way to share how much was bet without giving away a specific dollar amount.

Bonus — Sportsbooks offer a financial bonus to customers for a variety of reasons. A signup bonus is the most popular way to incentivize bettors to use a certain sportsbook. Chalk — A term for the team that is the favorite in an event. This team or player is usually a big favorite. The chalk is the expected winner by a large margin. Circle Game — A game is circled by a sportsbook because betting limits are lower than usual. Closing Line — This is simply where the point spread is when the game begins.

Closing Line Value — This term is used by bettors to measure the value of the line they wagered before the line that was the last available before a game begins. Consensus — The general agreement about something. In sports betting consensus could be the most popular teams bet or line available for a game.

Contrarian — Betting against the trends of the mainstream popular opinions. Bettors usually place contrarian wagers when there is value on the opposite opinion. Dead Heat — Another way to say that there is a tie in a finishing position. Sportsbooks have different rules on how to pay in the event of a tie or dead heat in an event.

Decimal Odds — This is a different way to present odds than Americans are used to. The math is easier to figure out for most bettors than US moneyline odds. Decimal odds are derived from a simple calculation of the amount bet x odds. For example, Vegas Golden Knights vs.

The difference of 10 dime line is the traditional profit margin for sportsbooks. Double Chance — This is a European sports betting term mostly used for soccer betting. A double chance wager allows the bettor two opportunities to win a bet. For example, a result in soccer can be a win, loss, or tie. A double chance bettor may combine two of the three results instead of just one. This gives the bettor twice the chance to win the wager. Double Pop — A European way of saying that a bettor will bet twice the normal amount.

In the US this is known more often as doubling up. Early Cash Out — A way for bettors to settle a wager for a certain dollar amount before the event is over. This is a way to lock in a profit at a smaller value than the wager would ultimately pay. Even Money — A wager that pays the same as was risked.

Exacta — Choosing horses to finish first and second in a race. This is sometimes, but rarely, offered for other competitive sports. Exotic Wager — These are non-traditional sports bets. This kind of wager is often listed as a prop bet in a sportsbook. Expected Value — This is a calculation used by a bettor to determine whether a wager should win or lose over time. Positive expected value EV bets over time is a good way to become a winning sports bettor.

Exposure — The amount of money a sportsbook potentially could lose for a specific event. For example, sportsbooks might have a lot of exposure money at risk on one team winning a championship versus another. First Half — A derivative bet that can be placed on a sport that has two halves. Football and basketball are the most popular sports to place a first half wager. Fixed Odds — These are the odds that most sports bettors will experience. Horse bettors might experience a change in odds from parimutuel betting.

Flat Betting — Simply put, this is a betting system where all wagers are the same. The wager is usually a percentage of bankroll but could also be a fixed dollar amount. Fractional Odds — Another kind of odds used mainly in Britain and Ireland.

Some sportsbooks may offer derivative versions for home, away, or periods of games during the day. Some sportsbooks may offer a similar bet for runs in Major League Baseball. Handicapper — A person who analyzes sports events to predict the winning team or player. Handle — The amount of money a sportsbook or sportsbooks take from wagers.

This could be broken down by sport, region, casinos, and more. Hedge — Hedging is a strategy used by sports bettors to either reduce the risk of or to guarantee a profit from a wager. Home Field — This the field court, rink, etc. Chalk — The favored team. Contrarian Betting — Also known as betting against the public, contrarian betting finds value by betting on games with lopsided betting percentages. Cover — In sports such as football and basketball, a bettor wins their bet if they cover the point spread.

For example, if you bet a 7-point favorite and they win by nine, you have covered the spread. Dog — Short for underdog, this is the team which bookmakers assume will lose the game. Draw — Also known as a push. If a game falls exactly on the spread, there is no winner and bettors will receive their money back. This will typically refer to an instance where you have a positive expected value. Field — In proposition prop bets, bettors are often allowed to bet the field. This refers to an accumulation of all the teams or players that are not specifically listed.

Future — This refers to bets that come down in advance of an event. For example, one can bet a Super Bowl future prior to the beginning of the season by selecting which team s they believe will win the championship. A bettor receives payment at the end of the season if their selection did claim the title. Hedging — Placing bets on the opposite side after you have already placed a wager on one side. This can be used to either cut your losses, or guarantee a profit.

Hook — In spread based sports, the hook is an extra half-point that bettors can get. Oftentimes in football, bettors will buy the hook around key numbers like 3 to get a line of 3. Juice — This is the tax that sportsbooks create for placing a wager. Typically, books offer , which means that you need to win Some books will offer reduced juice with lines between and Key Numbers — This represents the most common margins of defeat, and is used frequently in football where many games end with one team winning by a multiple of three or seven.

Middle — This occurs when you bet on both sides of a game and have an opportunity to win both bets. Instead, these sports offer a moneyline in which you bet on whether or not a specific team is going to win straight-up. Off the Board — A game or event that sportsbooks will not allow you to bet on. If both teams combine to score more than the total, the over wins.

If they combine to score fewer, the under wins. Parlay — When a bettor makes multiple bets at least two and ties them together, you need multiple events to all win for higher payouts. This is a risky proposition, but potentially very lucrative.

In spread based sports like basketball or football, this is a line of 0. Prop Bet — A bet on something other than the outcome of a game. Public Betting Percentage — Also referred to as public betting trends, we offer real betting percentages from seven contributing sportsbooks. These numbers represent real bets placed at real sportsbooks.

These percentages are integral for our betting against the public philosophy. Push — When a contest ends without a winner. In a moneyline sport this happens if the game ended in a tie. In a spread sport, this happens if the favorite wins by the exact spread.

Real Time Odds — Live lines that update immediately as sportsbooks adjust their lines.

ATS "against the [point] spread" : If a team is ATS, it means it has a record against the point spread, or more commonly referred to simply as the "spread.

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Bollinger bands strategy for binary options Supreme Court overturned the federal ban on sports betting in Maymultiple states have launched robust mobile betting operations. Sharps look at betting odds terms big picture and base their bets on knowledge. For example, which player will score first in a football game? Follow Us On Social. Retrieved 16 May Los Angeles Lakers. The term is most commonly associated with people who submit picks for non-Las Vegas residents that are involved in season-long sports pools like the Westgate Las Vegas SuperContest.
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Betting odds terms Best Books. In this matchup, there is a big difference betting odds terms the two odds, indicating a much higher probability 30 pounds to bitcoins to usd Duke winning the game and advancing to the next round of the NCAA Tournament. The art of bookmaking is in setting the odds low enough so betting odds terms to have a positive expected value of profit while keeping the odds high enough to attract customers, and at the same time attracting enough bets for each outcome to reduce his risk exposure. If a basketball spread is 11 points and the final score is spread bets on both teams are graded as a push and original stakes are returned. Steam — This is when odds change because of the money wagered on a game or participant. LIVE betting odds will change often as the first 12 minutes of the match play out. In both cases, you get your initial wager back, in addition to the amount won.

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Oddsmaker also linemaker : The person who sets the odds. Some people use it synonymous with "bookmaker" and often the same person will perform the role at a given book, but it can be separate if the oddsmaker is just setting the lines for the people who will eventually book the bets. Off the board : When a book or bookie has taken a bet down and is no longer accepting action or wagers on the game.

This can happen if there is a late injury or some uncertainty regarding who will be participating. Also used in prop bets. Parlay : A wager in which multiple teams are bet, either against the spread or on the money line. The more teams you bet, the greater the odds. Pick 'em : A game with no favorite or underdog. The point spread is zero, and the winner of the game is also the spread winner.

Point spread or just "spread" : The number of points by which the supposed better team is favored over the underdog. Proposition or prop bet : A special or exotic wager that's not normally on the betting board, such as which team will score first or how many yards a player will gain. Sometimes called a "game within a game. Push : When a result lands on the betting number and all wagers are refunded.

For example, a 3-point favorite wins by exactly three points. Square : A casual gambler. Someone who typically isn't using sophisticated reasoning to make a wager. Steam : When a line is moving unusually fast. It can be a result of a group or syndicate of bettors all getting their bets in at the same time. It can also occur when a respected handicapper gives a bet his followers all jump on, or based on people reacting to news such as an injury or weather conditions.

Straight up : The expected outright winner of the money line in an event or game, not contingent on the point spread. Teaser : Betting multiple teams and adjusting the point spread in all the games in the bettor's favor. All games have to be picked correctly to win the wager. Total : The perceived expected point, run or goal total in a game. For example, in a football game, if the total is 41 points, bettors can bet "over" or "under" on that perceived total.

Tout service : a person or group of people who either sells or gives away picks on games or events. Underdog : The team that is expected to lose straight up. You can either bet that the team will lose by less than the predicted amount ATS , or get better than even-money odds that it will win the game outright.

Skip to navigation. Betting: Glossary of common terms. Kansas City Chiefs. Bucs equal bucks as U. Tampa Bay Buccaneers. Sportsbook offers refunds after Reed controversy. LeBron now MVP favorite at some sportsbooks. Los Angeles Lakers. It's flipping madness: 'Startling' amount bet on Super Bowl coin toss. A gamble on Brady's move to Tampa Bay leads to profits. Notable Super Bowl betting trends. Notable Bets: Mahomes' injury throws oddsmakers for a loop.

Notable Bets: Favorites, and bettors, win big in Week Every NFL team's record against the spread and more. Notable Bets: Receiverless Browns let down betting public. Notable Bets: A Jets bet you won't believe. Notable Bets: NFL underdogs taking toll on betting public. Notable Bets: Jets spoil biggest win of season for bookmakers.

Notable Bets: The remaking of the Saints-Broncos point spread. Notable Bets: Survivor contest disaster, plus another bad Sunday for betting public. Midseason NFL betting report: Prime time 'dogs and overs shining. Betting battleground: The fight over where people bet in the future.

Todd Gurley mistake, missed PAT produce big swings at sportsbooks. Atlanta Falcons. Best individual betting seasons for every NBA team. In order for the parlay to win, each game must win or push tie. If any of the games lose, the entire wager loses. Point spread - Margin of victory set by oddsmakers to attract bets action on both the favorite and the underdog.

A favorite must win by a number higher than the point spread to cover the spread. Puckline - Hockey has a point spread of Proposition bets prop - A bet on anything that is not directly tied to the outcome of the game. For example, it can be the first team or the first player to score in a game. Push - When neither team covers the spread the actual margin of victory lands exactly on the spread , no one wins the bet and all wagers are refunded.

Runline - Baseball has a point spread of Teaser - Similar to a teaser, spreads are favored towards the bettor but has a lower payout. Action - A bet or wager. Against the spread - The result of a game including the point spread. Bad Beat - A bet that looks like the bettor is going to win but doesn't. Chalk - The favorite in a game.

Edge - The advantage a bettor has before a bet is placed. Favorite - A team favored to win a game. Handle - The total amount of money wagered on a game. Handicapping - Researching sports statistics to pick winners. Hook - A half-point in the spread In-game wagers - Bets made after a game started. Juice - A commission books win on each bet. Limit - The maximum allowed wager on a single bet.

Lock - A large favorite.


If you are planning to enter the betting or the gambling world, it is important to be able to understand and interpret all types of odds well. Trading Psychology. Business Essentials. Wealth Management. Your Money. Personal Finance. Your Practice. Popular Courses. Key Takeaways The three main types of betting odds are fractional British odds, decimal European odds, and American moneyline odds. These are simply different ways of presenting the same thing, and hold no difference in terms of payouts.

Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Related Articles. A Look at Casino Profitability. Partner Links. Related Terms Currency Binary Option Definition A currency binary option is a way to make very short-term bets on exchange rates. Learn About Conditional Probability Conditional probability is the chances of an event or outcome that is itself based on the occurrence of some other previous event or outcome.

Martingale System Definition The Martingale system is a system in which the dollar value of trades increases after losses, or position size increases with a smaller portfolio size. Dutch Book Theorem Definition Dutch Book Theorem is a type of probability theory that postulates profit opportunities will arise when inconsistent probabilities are assumed in a given context. Lump-Sum Distribution A lump-sum distribution is a one-time payment for an entire amount due, rather than payments broken into smaller installments.

If they combine to score fewer, the under wins. Parlay — When a bettor makes multiple bets at least two and ties them together, you need multiple events to all win for higher payouts. This is a risky proposition, but potentially very lucrative. In spread based sports like basketball or football, this is a line of 0. Prop Bet — A bet on something other than the outcome of a game. Public Betting Percentage — Also referred to as public betting trends, we offer real betting percentages from seven contributing sportsbooks.

These numbers represent real bets placed at real sportsbooks. These percentages are integral for our betting against the public philosophy. Push — When a contest ends without a winner. In a moneyline sport this happens if the game ended in a tie. In a spread sport, this happens if the favorite wins by the exact spread. Real Time Odds — Live lines that update immediately as sportsbooks adjust their lines.

Reverse-Line Movement — Betting line movement that contradicts the public betting percentages. This indicates that sharp money is taking Team B. This alternative allows you to add runs for the underdog, or subtract them from the favorite. This means that a favorite has to win by at least two runs for you to win your bet, while an underdog could either lose by one run or win straight-up to win the bet.

The benefit of this is that you can bet more lucrative lines on favorites, but because baseball and hockey are such low-scoring games, this can be a risky proposition. Steam Move — A sudden, drastic and uniform line movement across the entire sports betting marketplace. Teaser — A special bet in which you are able to adjust the point spread or total for a game. The more you change the spread, the lower the payout becomes.

Tout — An individual who sells their picks or their sports betting expertise to others. Now that you have a better understanding of some key sports betting terms, where should you be looking to place your wagers? The short answer: The sportsbook with the most advantageous odds. Luckily, since the U. Supreme Court overturned the federal ban on sports betting in May , multiple states have launched robust mobile betting operations. To get a complete rundown on where legal betting stands in your state, check out our complete guide here , but the main states to know for online betting are Colorado , New Jersey , Pennsylvania , Indiana and West Virginia.

Sports Betting. Best Books. PJ Walsh. Download App. Bankroll — The available funds you have to bet with. FDSportsbook on Twitter. Pictured: FanDuel Sportsbook Bookmaker — A person who is licensed to create betting lines and take wagers. Follow PJ Walsh. Top Offers. Follow Us On Social. Sportsbook Reviews.