Sports betting has terminology that you might want to learn before placing your first bet, so don’t worry, we’ve got you covered on this one.
This article will explain all sports betting terms that you need to know if you are a newcomer or if you want to learn more about it.
Sports Betting Terminology Sorted Alphabetically
Action – Any kind of wager
Against the spread – The result of the game that includes the point spread
Also ran – A contestant, a horse or a greyhound that does not finish among the first three in a race.
Ante-post – A betting placed before the racing course’ betting market had opened.
Back – Putting your money on someone who you want to win.
Bad beat – In betting lingo, this means that you lost a bet even though you have placed a bad on someone who was guaranteed to win.
Banker – Selection that is most likely to win
Betting exchange – a betting platform where people wager against one another.
BIP or BIR – Betting in play or betting in running means that participants are betting during the course of a match or a race, and it refers to Live betting.
Book or sportsbook – An establishment where some can bet on a race or match outcome.
Betts – Bet term meaning “both teams to score.” This means that you are betting on both teams to score.
Chalk – This is a favourite in the game.
Consensus – Percentage on how many bets are placed on teams.
Cover – When the final score of a favourite that won exceeds the point spread.
Dollar – This is a $100 bet.
Edge – This term refers to a bettor’s advantage against the sportsbook.
Even – Receiving the same amount of money as the original stake.
Favourite – The team that is expected to win the game.
FGS – Abbreviation of the betting term “first goal soccer.”
FPTS – Stands for “first player to score.”
Future bets – In sports betting lingo, this refers to a bet placed in advance on a team that is believed to win in the next championship or some other future event that hasn’t taken place yet.
Handicapping – A research on sports statistics to pick potential winners.
Handle – The amount of money that bettors have wagered on a game.
Hedging – A strategy used by bettors to increase a chance of winning.
Hook – A half-point added to points spreads that bettors can get.
In-game wagers – Bets made during the game.
Juice – A commission that bookmakers receive on each placed bet.
Limit – Maximum allowed wager set by bookies on each bet.
Lock – One of the sports gambling terms referring to a favourite to win the game.
Long shot – A competitor thought to have a little chance of winning.
Moneyline bet – A bet that only includes odds.
Nickel – This is a bet of $500.
No action – A game that no longer accepts bets and where all wagers are refunded.
Oddsmaker – A person who predicts a future outcome of the game.
Off the board – A game on which bookies no longer allow for a bet to be placed due to players’ injuries or bad weather.
Over – A score that once combined is more than sportsbooks have set.
Pick ’em – In betting lingo, this refers to a game without a favourite or an underdog.
Parlay – A risky strategy made by bettors that involves combining multiple games for higher payouts.
Point spread – This is a bet on the margin of victory in a game, and it means that the favourite has to win by a number higher than the point spread for it to be covered.
Proposition bets – Also known as just “prop” refers to a bet that is not directly connected to the outcome of the game. It can just mean placing a bet on who is first going to score.
Puckline – One of the betting words used in hockey that represents the spread betting option in this game, –1.5 for the favourite and +1.5 for the underdog.
Push – When no one wins the game.
Sharp – A bettor who is experienced and successful in betting.
Steam – A sudden drastic change in odds due to heavy wagering.
Taking the point – A bet placed on a team most likely to lose.
Teaser – A bet where you can adjust a point spread for two different games.
Total bet – An action of combining points scored by each team.
Under – An opposite of over, a score that once combined is less than sportsbooks have set.
Underdog or dog – In our betting glossary this refers to a team that is most likely to lose the game.
W/O – A.k.a. betting without means that you can place a bet without including the favourite, and you’ve won the bet if they come second.
Wager – Placing a bet.
Now that we have gone through the most important sports betting terms, you are fully equipped to successfully place your first bet on your favourite team. You may use this article as a reference and check it out whenever you want to recall a particular term. We wish you luck on your first bet!
Related article: Best Canadian Sports Betting Sites
This is a tie between the bettor and the sportsbook, and if this happens, the bettor gets their money back.