B

Back Door Cover

When a team, usually out of the game, scores meaningless points to cover the spread; sometimes called a matador.

Bad Beat

A rough, unexpected, undeserved loss, a bad beat is often a result of an opponent's Back Door Cover.

Bankroll

The funds you have available for wagering.

Beard

Is a friend or partner of a sports bettor who places bets on behalf of the sports bettor to conceal the identity of the bettor.

Bet

To risk money on the outcome of an event.

Bet Limit

The maximum amount that can be placed on a particular event. Often books, after accepting the bet limit from a client, will adjust the lines in the books' favor and allow the client to exceed the limit.

Bettor

Is someone who places or has a bet. Often called a 'Punter' in the UK.

Board

List of available bets

Book

A book is a person or company that accepts wagers.

Bookie

Is a slang term for Book or Bookmaker

Bookmaker

See Book

Buck

Sports betting slang for a $100 wager

Buy (Points)

It is when a bettor will pay a premium to have the point spread move in his favor.

C

Canadian Line

The Canadian line is a combination spread and moneyline wager in hockey.

Chalk

Is a slang term for the favorite.

Chalk Player

Is a sports gambler who mainly bets on the favorite and rarely bets on the underdog.

Circled game

A circled game is a game that has lowered betting maximums and few betting options. Common reasons a game could be circled are inclement weather, an injury to a key player or rumors about a trade involving one of the teams.

Closing Line

The final list of point spreads offered before game time.

Cover

Is when a team wins on the point spread.

Cross Sport Parlay

Is a parlay that involves games from more than one league or sport.

D

Dime

Is sports betting slang term for a $1000 wager.

Dime Line

A 10-cent line offered by player-friendly books on baseball in place of the otherwise standard 20-cent line, this giving the player an extra $10 on every underdog-winning wager.

Dog

Slang for underdog

Dog Player

A dog player is one who usually bets on the underdog and rarely bets on the favorite.

Dollar

Like 'Buck' it's a slang for a $100 wager

Double action

An "if bet" in sports betting that is processed if the precedent bet wins, ties or cancels.

Double Bet

A double bet is a wager for twice the size of one's usual bet, also known as "double pop" or "doubling up."

Double Header

Two separate games played by the same teams on the same day.

E

Early Line

The first line posted for a game.

Edge

Any advantage or perceived advantage when sports betting.

Even Money

Is a bet that pays 1/1 with no Vig or juice.

Exotic

An Exotic is any wager other than a straight bet or parlay.

Exposure

The maximum amount of money a sports book stands to lose on a game.

F

Fade

To bet against a side.

Favorite

The competitor who is expected to win the event

Field

All of the individual competitors in an event or the group of the entrants whose odds are not individually listed to win an event, usually long shots. They are grouped together so that a bettor wins his field bet if any of the long shots win. Events with a large number of entrants, like golf or NASCAR, most often offer field betting.

FIFA

Fédération Internationale de Football Association

Fifty cents

Is slang for a $50 wager.

Final Four

The last four teams playing in the annual March Madness NCAA basketball national championship tournament

First half bet (1H)

Is a wager on only the first half of an event, most common in football and basketball.

Five Inning Line

Is a bet placed on only the first 5 innings of a baseball game.

Futures

Is a wager placed on the outcome of a future event such as the winner of the World Series or Super Bowl

G

Gamble

To risk money on the outcome of an event

Getting Down

Is making a wager on an event.

Getting Value

Is getting the best odds on a wager.

Grand Salami

An Over/Under wager on the grand total of goals scored in all the hockey games of the day

Grand Slam

The four most important tournaments in tennis: the Australian Open, the French Open, the US Open, and Wimbledon

The four major golf tournaments: The Masters, U.S. Open, British Open, PGA Championship (Professional Golf Association)

In baseball, a homerun with the bases loaded, scoring four runs.

H

Half time bet (2H)

A wager place on only the second half of an event, most common in football and basketball.

Handicap

Is another term for Point Spread

Handicapper

A person who studies, rates, and wagers on sporting events and/or races.

Handicapping

Is what a gambler does to predict the outcome of an event.

Handle

The total amount of money wagered on an event

Head-to-Head

A bet on the results between two or more participants in an event, such as golf or NASCAR, where the wagers are decided not by the outcome of the event but by who does better between the players in the wager

Hedging

Is to wager the opposite way of a previous wager in order to cut losses or guarantee a minimum profit.

Hold

The percentage the house wins.

Home Team

The team playing in its own town

Hook

A hook is the half point added to a point spread.

Hot game

Is a game that is attracting a lot of action on one side by knowledgeable handicapper.

House

Is the Sportsbook or bookmaker

I

If Bet

A wager that links together two straight bets, where progressing to the second bet is dependent on the first bet winning. If the first bet wins, the second bet is placed; if the first bet loses, however, the second bet isn't placed.

J

Juice

The bookmaker's commission on a losing bet, also known as "vigorish."

K

Key numbers

Are the numbers that frequently affect the outcome of wagering. for example, 20% of all NFL games are decided by 3 points so 3 is a key number in the NFL.

L

Laying the Odds

"Laying Odds" means that you are wagering more money than you will win if your wager comes through. In such an instance a bettor believes himself to have a better than 50% chance of winning his bet.

Laying the points

Betting the favorite by giving up points

Laying the price

In sports wagering, laying the price means betting the favorite by laying money odds.

Limit

Is the maximum amount accepted by a sportsbook before the odds or points are changed.

Line

The current odds or point spread on a particular event.

Line Quality

A line may be normal, circled or sharp. A line would be circled due to injuries, weather or any other factor that causes the bookmaker to think the line may move drastically. Circled lines or circled games have restrictions on the maximum bet that will be accepted. A line would be sharp if the bookmaker expects the line to remain unchanged and there to be lots of wagering on that event. Sharp lines or sharp games have higher betting limits.

Lines maker

Is the person who establishes the first line or point spread for an event.

Listed Pitchers

A listed pitcher is a baseball bet that will be placed only if both of the pitchers scheduled to start a game actually start. If they don't, the bet is No Action

Lock

Is a bet that is expected to be an easy winner.

Long Odds

Longshot, usually 10:1 odds or greater

Longshot

Is a competitor that has very little chance of winning.

M

March Madness

The NCAA Men's Division I Basketball Championship.

Margin

The amount a competitor in an event finishes in front of another competitor.

Middle

To bet both sides of a game at different prices, with the hope of winning both wagers

MLB

Major League Baseball

MLS

Major League Soccer

MMA

Mix Martial Arts

Money line

Odds expressed in terms of money. With money odds, whenever there is a minus (-) you lay that amount to win a hundred dollars, where there is a plus (+) you get that amount for every hundred dollars wagered.

Multi-Single

Are multiple single wagers placed at the same time

MVP

Most valuable player

N

NASCAR

The National Association for Stock Car Auto Racing

NBA

National Basketball Association

NCAA

National Collegiate Athletic Association

Neutral Site

Arena, court or field where neither side has a home field advantage.

Newspaper Line

A sports line that appears in a daily newspaper

NFC

National Football Conference

NFL

National Football League

NHL

National Hockey League

Nickel

Slang for a $500 wager.

NIT

National Invitational Tournament

NL

National League (MLB)

NLCS

National League Championship Series

No action

A wager that is cancelled because the event didn't happen or certain conditions of the wager were not met.

O

Odds

The oddsmakers' prediction of the likelihood of a certain outcome of an event

Oddsmaker

A person who sets the betting odds and sells them to media outlets without taking action on them

Off the board

In sports betting this is a game on which the bookmaker will not accept action.

Offside

When action on an event is not balanced and the outcome could lead to a loss for the book.

Opening Line

The earliest line posted for a particular event.

Over

In sports gambling, the "over" is a sport's bet in which the bettor guesses that the combined point total of both teams will be above a specified total.

Overlay

When the odds on a proposition are in favor of the bettor rather than the house

Overtime (OT)

Extension to a tied contest at the end of regulation play that lasts until a winner is determined or maximum overtime periods expire.

Over/Under

A bet on whether the total points or goals scored by the two teams will be over or under a specified number

P

Parlay

In sports wagering, a bet with two or more teams in which all teams must win or cover for the bettor to win and receive higher payouts.

Past Post

Action placed after the start of the event.

PGA

Professional Golfers' Association

Pick 'Em

An event where there is no favorite.

Player

Bettor, punter or gambler

Point spread

Also, know as the handicap, it's the number of points or goals allotted to one the underdog or taken from the favorite to even the chances of winning for both sides.

Postponed

The cancellation and rescheduling of an event for another date for any reason

Power Ratings

The strength of a team in comparison to another team

Press

To place a larger wager than usual

Price

The moneyline or point spread

Prop (Proposition) Bet

A wager on an outcome that is not directly related to the final score. Prop bets are often on statistical totals for players or individual teams as well as on the outcomes of current events such as reality TV or elections.

Puckline

Odds of a goal spread instead of using a Canadian Line in hockey, where both a goal spread and money line are played.

Push

When the contest ends with no winner or loser for wagering purposes

Punter

Bettor, player or gambler

Q

Quarter Line

A bet placed on a specific quarter of a basketball or football game.

R

Rain out

A game that is cancelled due to bad weather

Referee

A person who has authority to make decisions about play in a sport Officials in some sports are known by a variety of other titles, including umpire, judge or linesman.

Return

The total amount you are paid on a winning wager.

Reverse

When you place a reverse bet, two 'If' bets are placed for you

one in the original order and the other in reverse order.

Round Robin

In sports betting this a series of three or more teams in 2-team parlays

Run down

In sports gambling this is all the lines for an specific date, sport, time, etc.

Run line

Is baseball's version of a point spread.

Ryder Cup

A golf tournament involving various match play matches in which every two years the top American and European golfers meet at venues alternating between the two continents. It was first competed for in 1927 and, until 1973, when Ireland was included, involved only the US and Great Britain. In 1979, it was expanded to include Europe.