Glossary

A person who is placing a bet. 

What your selection is added to when placing the bet. All information is shown here, including the total returns of your pick(s).

Losing a bet that appeared very likely to be a winning wager. Bad beats usually involve an unexpected or fluky event or series of events, generally in the final portion of a game.  

A bettor’s total funds available for wagering. It can be thought of as a betting budget. 

The favorite or favorites. Going “all chalk” in the 4 pm games means betting on all the favorites. 

If the market you bet on produces two or more winners, then the result is a dead heat, and you will be paid out at a portion of your original potential winnings, depending on how many tied (payout rules can vary by sportsbook). 

The process of funding your betting account with money to be used for betting. 

An advantage that a bettor has (or believes they have) over a sportsbook. 

A wager is placed on a team or player to win an entire tournament as opposed to just winning one game. An example of a future bet would be the Kansas City Chiefs to win the Super Bowl, the Los Angeles Lakers to win the NBA Championship, or Dustin Johnson to win the Masters. 

To go against and take the opposite of a fellow bettor and their bet(s). For example, if you’re on a cold streak and select the over tonight, a fade would be on the under. The opposite of “fade” is to “tail” or “follow” another bettor. 

A half-point (0.5) If a team is a 6.5-pt favorite, and they win by six, you’ll say, “They lost by the hook”. 

Betting on the opposite side of an original bet to guarantee a profit or minimize loss/risk. 

Popular outcomes or margins of victory, often about the Spread or Over/Under. For example, 3 and 7 are key numbers for the spread in football because those are popular margins of victory due to TDs and FGs being the most common types of scoring. 

A bet at big odds that isn’t necessarily expected to win but has a chance at longer odds.

A straight-up bet where you’re picking a team or player to win and defeat their opponent. 

An illegal sportsbook not registered in the United States. Often uses cryptocurrency as a means of allowing bettors to wager. 

Another name for a sportsbook, where those employed is deciding the odds to be offered. 

When the odds (generally futures) for a particular team or player indicate that you must bet more than you’d win. In American odds, these are indicated by a minus before the number (ex: -250) or when the denominator is greater than the numerator (ex: 2/5) in fractional odds.  

An indication of how likely an outcome is to happen, and tell you how much money you will win if you get your pick right. Odds are displayed in American, fractional, or decimal forms. 

A type of bet on something happening or not happening in a game. This can apply to players, such as a running back’s total rushing yards or something in the game like total touchdowns in the first half. 

A code offered by a sportsbook as part of a promotion to reward the user for signing up. For example, you might be giving $1,000 in free bets for signing up to a particular sportsbook. 

Two teams or opponents have the same money line odds, and the sportsbooks can’t separate them. Typically, their odds of winning on the Money line will both be -110. 

A parlay is a bet in which more than one play combines into the same wager. Every play in the parlay must be a winner for the wager to cash. If one leg of the parlay loses, then the entire bet loses. 

A casual, inexperienced, and/or unsophisticated bettor who generally does very little research before placing a bet. Squares comprise the majority of what’s considered the “public”. Their wagers are usually smaller but make up a large percentage of the number of overall bets. They tend to gravitate towards favorites, home teams, and overs. 

A handicap that indicates how much a given team will win, or how close they will keep the contest. 

The company/website that takes bets on sporting events and pays out winnings. 

Generally “sharps” are experienced, strong bettors that make money long-term. Many “sharps” (but not all) are professional bettors. They can often be very data-driven, using models and algorithms to find slight edges or advantages over the sportsbook. Some are so influential that sportsbooks will quickly adjust their lines in one direction or another after a sharp bet. Therefore, some oddsmakers refer to sharps as “respected” players.

Another name for an over/under bet, where you place a wager on the total number of points, runs, or goals scored in a game. 

A type of bet somewhat similar to a parlay, in that it consists of multiple legs which all need to win for your wager to cash. However, with a teaser, you get extra points on the spread or total. It’s similar to the process of ‘buying’ points. 

A way of measuring and monitoring someone’s record as a bettor or handicapper, and a way of indicating the level of confidence in a selection. 

A bet that you may not necessarily expect to happen, but the odds available are greater than the perceived likelihood.