Action - A bet or wager on a sporting event
Angles - Factors from past games or sporting events used to determine or predict future results and outcomes, more popularly referred to as "Trends"
Arbitrage - A combination of bets to ensure that one wins and one loses to minimize risk, also called a "Hedge". Playing the "Middle" is also called an "Arbitrage"
ATS - "Against the Spread": points added to one team or the other to determine wagering outcome
Beard - Someone used to place a wager for another person, either because the true bettor does not want his or her identity revealed, or because a sportsbook refuses to take action from that person.
Bet - the risk of money on an event, also called "Wager"
Bet Limit - Maximum wager size allowed by a sportsbook, can vary for individuals, events and sportsbooks for any number of reasons
Board - A listing of bets available in a sportsbook
Book - A person, company, or place that accepts wagers
Bookie - Used to refer to a person that takes bets, usually used to refer to an illegal bookmaker
Bookmaker - An individual or company that accepts bets
Buck - $100, also called a "Dollar"
Buy Down - Paying an additional price to move the "Hook" in your favor in an ATS wager on a favorite
Buy Up - Paying an additional price to move the "Hook" in your favor in an ATS wager on an underdog
Chalk - The "Favorite"
Circled Game - a game which for one reason or another cannot be included in parlays or teasers, or where the book has lowered the maximum bet due to certain conditions
Cover - A win against the point spread (ATS win)
Dime - $1000
Dime Line - Term used to refer to only 10 percent juice, usually applies to money line bets, especially in baseball
Dog - Short term for an "Underdog"; the person or team perceived most likely to lose an event
Dollar - $100, also called a "Buck"
Edge - The perceived advantage when placing a wager
Even Money - 1:1 odds on a bet; a bet where no juice is exchanged
Exotic - An unconventional wager, also called a "Prop" or "Proposition" bet
Exposure - The maximum amount a sportsbook stands to lose on an event
Favorite - The team or person expected to win an event; the line and odds reflect the extent to which the choice is favored
Field - Group of entrants whose odds are not listed for an event, seen often in golf and NASCAR
Fifty-Cents - $50
Figure - Refers to the amount owed to or by a bookmaker
First-Half Bet - Wager on the first-half of a game, in baseball it is on the first five innings
Flea - Small bettor who wants something for nothing
Future - A wager placed far in advance of an event. This is a popular play for the Super Bowl, NBA and NHL Championships and the World Series
Grand Salami - Term used to describe a wager on the over/under of all goals scored in a day in hockey or runs in baseball
Half-Time Bet - Wager placed on the second-half of a game
Handicap - To analyze a sporting event in order to predict its outcome
Handicapper - One who handicaps
Handle - The total amount taken in by a sportsbook on bets placed
Hedge - Wagering on both sides to either cut losses or ensure minimum winnings, also called "Arbitrage"
Hook - The half-point in a point spread
If Bet - Allows one to link two or more individual wagers together, similar to, but unlike a parlay. As a parlay is an all or nothing bet, an "if bet" allows a bet on one event with an instruction to the sportsbook that if it wins to place a second bet on another event. If the first bet loses, the second bet does not get placed.
Juice - The amount charged by a bookmaker for taking bets, also known as "Vig"
Laying - Betting the favorite and giving up points
Line - Used to even the odds of a particular sporting event. One team has points added to its final score while the other has points subtracted
Longshot - A large underdog unexpected to win, especially in horse racing
Match-Up - A wager on one individual against another individual or group in a sporting event
Maverick Line - Line offered by one sportsbook that is significantly different than the line of others
Middle - Betting both sides with the possibility of winning both bets, breaking even, or minimizing lose - also considered an "Arbitrage" or "Hedge". If contest finishes in between the two differing point spreads, you win both bets
Money Line - Odds on the favorite and underdog in a contest with no consideration of a point spread. Where there is a minus (-) for the favorite you must wager that amount to win $100. Where there is a plus (+) for the underdog you must wager $100 to win that amount
Neutral Site - The site of a sporting event where neither team has home field advantage
Nickel - $500, a "Big Nickel" is $5,000
Nickel Line - Term used to refer to only five percent juice, usually applies to money line bets, especially in baseball
Odds - The likelihood of an outcome occurring, stated in number form
Oddsmaker - Person who sets the opening line on an event and later, if necessary, adjusts the line
Off the Board - Sometimes shortened to "Off", an event is off the board when a sportsbook is no longer taking wagers on an event. This happens after an event starts or for other reasons such as weather, injury to a key player or other factors prior to the event
Online Sportsbook - Accessed over the Internet but typically outside the United States (offshore), a sportsbook that offers an opportunity to wager. Most provide advantages such as special rates, convenience and competitive lines and odds
Opening Line - The earliest line posted for a particular sporting event
Outlaw Line - The earliest line on an event that sportsbooks sometimes offer on which only privileged bettors are allowed to wager before the true opening line is offered to the public
Over - To bet that the final combined score of both teams in a game will exceed the Over/Under Total posted for that particular game
Overlay - When the odds on a proposition are in favor of the bettor over the house
Parlay - Bet with two or more teams in which all teams must win or cover for the bettor to win and receive higher payouts
Pick 'Em - A line where neither team is favored, also called a "pick"
Point Spread - The predicted scoring differential between two opponents as quoted by a sports book, often called "The Line" or "Spread"
Power Rating - The strength of one team in comparison to another team or other teams
Press - To wager a larger amount than usual, especially when chasing losses
Price - Term to define odds or point spread
Proposition or "Prop" - Additional, more exotic betting options on major sporting events, such as which player will score first in the Super Bowl, or who will win the NBA Championship
Puppy - The underdog
Push - Tie against the spread. On moneyline bets the result is "no action." All moneys are returned as if the bet had never been made. On parlays typically the number of teams in the parlay is lowered by one to account for the push.
Round Robin - In sports betting this a series of three or more teams in two-team parlays
Rundown - Verbal update of the lines for a specific, date, sport, etc.
Run Line - Baseball spread used instead of the moneyline. +1.5 for underdog,-1.5 for favorite
Runner - One who places sports bets for another person
Sharp - One who has an edge in sports betting, a professional gambler
Sides - The two teams playing in a sporting event
Sportsbook - A company that accepts bets
Spread - Short term for point spread
Square - Sports betting novice
Steam - Line that starts to move quickly. So called "steam games" do not necessarily reflect objective circumstances, but are games that a mass of bettors is drawn to for some reason or another
Straight bet - A wager on just one team or horse
Straight-up - Bet on a game without any regards to the pointspread
Systems - Information used from the past to help predict future outcomes
Taking the points - Betting the underdog and its advantage in the point spread
Taking the price - Betting on an underdog and accepting money odds
Teaser - A teaser bet is a single bet that links together two or more individual wagers and allows you to adjust the point spread of each individual wager. In exchange for the points, you will get less of a return on your bet. Each of the individual wagers must win or the bet is a loser
Total - The combined amount of runs, points or goals scored by both teams during a game, including the overtime.
Tout - One who sells his opinions or picks on sports
Trends - Using the past to predict the future focusing on only one team
Under - To bet that the final combined score of both teams in a game will fall short of the Over/Under Total posted for that particular game
Value - Getting the best odds on a wager or proposition, highest possible edge
Vigorish - The bookmaker's commission on a losing bet, also called "Vig" for short, more regularly called "Juice"
Wager - To risk money on the outcome of an event
Wise guy - Term for a well-informed or knowledgeable handicapper or bettor