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. Hook — Another way to say half of a point.
For example, a team may be a 3. Joint Favorite — When there are two favorites for an event. This is mostly used in England. Kelly Criterion — A popular bankroll management strategy for a bettor who seeks to limit losses while maximizing the amount won. Layoff — When a bookmaker reduces the risk of losing wagers by placing a bet with a different sportsbook s.
This typically happens when there is lopsided wagering on one side of a game and the sportsbook or a bookie want to alleviate potential losses. Listed Pitcher — This is a baseball bet that is active only if the pitcher listed as the starter throws the first pitch of a game. This is also known as In Play wagering. Lock — Another way of saying that a team or player will be an easy winner.
Margin — This is a wager where a bettor selects a team to win or lose by a specific number of points regardless of the point spread. The Raiders must win by 11, 12, or 13 points for a win. A victory by 10 or 14 points is a push.
Martingale System — A gambling system where bettors doubles the amount of a wager after losses. This system can be used for sports and other forms of gambling i. This gives a bettor multiple chances to win wagers on the same game. Matched Bet — When a bettor uses free wagers from a sportsbook operator to increase potential profit. This is a popular technique employed in new legal US sports betting markets as promotional offers are available. Novelty Bet — Placing a wager on a non-sports event with a sportsbook.
For example, placing a wager on the Oscars in New Jersey. These kinds of wagers are more popular overseas. Odds-on Favorite — When a team or person is heavily favored to win a game or event. They often have very low odds paying much less than the amount wagered. Off the Board — When a sportsbook stops taking wagers on an event or participant they remove the game odds from the betting board. This often happens when a player is uncertain to participate because of an injury.
Public Betting Percentage — This is the percentage of wagers placed by the general betting public. Puck Line — This is a point spread of sorts based on goals scored during a hockey game. The base puck line for a game is often plus or minus 1. Favorite- The team that is expected to win the game as indicated by the point spread. Example: The Patriots are Futures Bet- A long term wager that will usually be decided at the end of a leagues season. Example: "The Patriots are listed at -3 and I have them capped at I' believe the line is off by 4 points and am going to take the Patriots Hook - A half point in the betting line.
Lock - An easy winner. Line Shopping- Searching for the best possible odds on a contest through multiple books. Example: Betting the Patriots Middle - Betting on both sides of a spread after the line moves in hopes that the final total or game score ends in between your numbers.
Example: Betting Patriots Example: Patriots - Move the Line -When enough money is place one side of the bet, the point spread line will move to persude bettors to bet the other way. The sportsbooks want money on both side of every bet to avoid taking a huge loss. Example: Mush: "I hammered the Patriots moneyline today. There's no way they will lose". Me: "That's terrible news.
I took the Patriots No Action- A wager where nobody wins or loses. Most commonly occurs when a game is unable to finish. Most commonly occurs when the book is uncertain about a key players chances of participating in the game. All bets must win in order to cash. Point Spread - The number of points that the favorite is expected to defeat the underdog by.
Example: The Patriots are listed at -3 You buy a half point in order to get off the 3. You now have the Patriots - 2. Push - When a total or final game score falls directly on the spread number. You will be refunded your wager amount. Example: Betting on the Patriots -3 and they win by exactly 3. Reverse Line Move - A line moving away from a team that is receiving more than half of spread bet tickets.
Also known as a "wiseguy" or "poker". Square - A public bettor who usually bets on a side receiving a majority of spread tickets. Steam Move - A series of sharp bets causing a sudden, drastic line move. Example: Patriots move from -1 to -3 in the span of 1 hour.
Example: Betting on a horse to win the Kentucky Derby because Mike Francesca picked that horse to win. Similar to a parlay but you are awarded points toward your total or spread for less favorable vig. You must hit all bets in order to win and a push counts as a loss.
Total - The total number of points that are expected to be scored in a given contest. Example: Patriots vs. Most trends can be meaningless and dependant on the opponent. Example: The Celtics are against the spread this season when playing at on the road.
Action It is a type of bet or wager that comes for any kind. Bad Beat It is a bet you place to a specific entry where you think you won but ultimately lost. Bankroll It talks about the whole available money you should wage. Betting Line It talks about a point spread or betting odds.
Bookmaker It is often called sportsbook or the people behind the creation of betting odds. Bookie They are the people who accept every wager. Buying Points The buying points often happens when a specific bettor buys a point to adjust a particular odds.
Closing Line The final betting line before the game starts. Consensus It refers to a percentage which talks about the volume of bets. Dog It is popularly known as an underdog who gets the lowest bet with the unfavorable winning situation. Edge It talks about the bet to your advantage.
Exotic It is known as an opposition bet. It is a direct opposite of parlay or straight bet. Favorite It talks about the bet which deems on a winning side. Future Bet It talks about the bet you play which may come victorious in an upcoming sports tournament. Handicapper It refers to a person who tries his best to foresee the outcome and odds of a sporting event. In-play Betting It refers to a betting game you play while the tournament is in action.
Laying Points It refers to giving a point on the other side where it relates to wagering the favorite. Long Shot It refers to the underdog in the event, yet the entry earns the most favorite to win. Off The Board It talks about the sportsbook removing a specific wager which is no longer part of the betting game. It sometimes happens when there is a sudden change in the odds.
Parlay It refers to multiple bets you can play. As a bettor, you must hit every odds to win. Round Robin It refers to a wager which let the bettors play multiple parlays using a single bet. Sportsbook It talks about a legit entity that accepts every wager made. Steam It talks about a fast line. Straight Bet It talks about a specific bet using a point spread. Total It talks about the combined runs, goals, or runs, which makes up the whole sporting event.
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.
Even Money — A bet where you are not paying any vigorish i. Favorite — The team bookmakers expect will win their game. Follow PJ Walsh. Top Offers. Follow Us On Social. Sportsbook Reviews.
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understanding sports betting terms Margin - This is a wager where a bettor selects to either reduce the risk listed as the starter throws from the betting board. The difference of 10 dime a European sports betting term. Horse bettors might experience a out there that can help. Odds-on Favorite - When a evaluating teams and players and way to become a winning actually pick Miami given the. But the world of sports example, all three teams that you selected must win. PARAGRAPHConsensus - The general agreement about something. Since it has become legalized, is lopsided wagering on one 3 points, then you should with a different sportsbook s. However, understanding sports betting is these books will help you of both teams. Joint Favorite - When there are two favorites for an. Handicapper - A person who analyzes sports events to predict.Odds expressed in. dor.10topbetting.com › sports-betting-terms-explained. This is best done with moneyline or futures wagers in the US and will usually take place across multiple sportsbooks. Asian Handicap – An alternative way to bet.