Sports Betting Terms A-Z: Ultimate Gambling Glossary

New to the sports betting scene or just need a refresher on the lingo? We’ve got you covered.

Below is a comprehensive A-to-Z glossary of sports betting terms – from the basics every newbie should know to the advanced jargon used by seasoned sharps. If you’re scratching your head at any point spread or prop slang, read on.

By the end, you’ll talk like a Vegas veteran at the sportsbook counter. (And if you’re brand new to how betting works, you might also check out our sports betting basics guide for a deeper introduction.)

Action – Action simply means having a bet on a game. If you “have action” on tonight’s matchup, it means you’ve placed a wager on it. Bettors also use action to talk about overall betting volume (“This game is drawing a lot of action”). In short: no action, no bet!

Accumulator (Parlay) – An accumulator (a term more common in the UK) is basically what American bettors call a parlay – a single bet that combines multiple picks for a bigger payout. For example, instead of betting just one game, you might parlay the Cowboys -3, Lakers -6, and Yankees moneyline altogether. The catch? You need every leg to win to cash the ticket. More legs = higher potential payout, but also a higher risk of one loss busting the whole bet. (For more on parlays and why they’re both exciting and tricky, check out our guide on how parlays work.)

Against the Spread (ATS) – To bet against the spread (ATS) is to wager on a point spread rather than a straight-up outcome. ATS results tell you how a team performs relative to the sportsbook’s spread. For example, if the Bears are -7 favorites and win by 10, they’ve covered the spread and are 1-0 ATS in that game. Bettors often cite ATS records to evaluate teams: “The Chiefs are 5-2 ATS this season,” means they’ve covered the spread 5 times and failed to cover 2 times. ATS betting is the bread and butter of football and basketball wagers – it’s not just about who wins, but by how much.

Alternate Line – An alternate line is a different point spread or total offered by the sportsbook that’s adjusted from the main line. It lets you choose a “softer” or “harder” line in exchange for adjusted odds. For instance, say the standard point spread is Patriots -7; you might take an alternate line of Patriots -10 at a higher payout, or Patriots -3 at a lower payout. It’s a way to control risk/reward: taking extra points (favoring you) will lower your potential winnings while giving extra points (against you) will increase your payout. Many books offer a menu of alternate lines for spreads and over/unders, so you can pick the one you feel most comfortable with.

Arbitrage – Arbitrage betting (or “arbing”) means placing bets on all outcomes of an event to guarantee a profit, taking advantage of differing odds at different sportsbooks. It’s basically risk-free betting if done correctly – the Holy Grail for bettors. For example, you might find Team A at +105 at one book and Team B at +105 at another in a two-outcome event. By wagering on both sides appropriately, you lock in a small profit no matter who wins. Arbitrage opportunities are rare and usually small because bookmakers adjust quickly and don’t like giving away free money. Still, some very sharp bettors (and betting bots) are always on the lookout for arbs – it’s like couponing in the betting world, squeezing out guaranteed pennies on the dollar. If you’re a beginner, this concept might be advanced, but it highlights how odds can sometimes be exploited for a sure win.

Backdoor Cover – A backdoor cover happens when a team scores late points that swing the outcome against the spread, often in a game that’s already decided in terms of the winner. It’s the bane of many bettors’ nights! Imagine you bet a favorite -10 and they’ve been leading by 17 all game (easy cover)… but then in the final seconds, the underdog scores a meaningless touchdown against the second-string defense. The favorite still wins the game, but only by 10 – so the bet pushes instead of wins, or worse, you lose by the hook (9-point win). That last, often purposeless score that “covers” the spread for the underdog is what we call a backdoor cover. Bettors on the wrong side will groan, while those who backed the underdog +10 will happily take the lucky cover. In short, it’s never over ’til it’s over when you’ve got a spread bet – the backdoor cover is always lurking!

Bad Beat – A bad beat is every bettor’s nightmare story: a seemingly winning bet that goes sideways at the last second. It’s when you lose a wager you were almost sure you had won. Maybe you had the under 49.5 points and the game is 21-21 with one second left – then an interception is run back for a touchdown on a meaningless final play, pushing the total to 49+ and sinking your bet. Ouch. Bad beats often involve improbable sequences: a backdoor cover, an overtime that wasn’t expected, a blown lead, or a freak play. If you hang around bettors, you’ll hear endless bad beat tales (usually starting with “I can’t believe what just happened…”). They’re painful, but part of the betting life. The only cure for a bad beat is to shake it off and move on to the next bet – and maybe share your sob story with fellow bettors for some commiseration.

Bankroll – Your bankroll is the total pot of money you set aside for betting. Think of it as your gambling budget. Smart bettors manage their bankroll carefully, typically betting only a small percentage on each play (this is called bankroll management). For example, if you have a $1,000 bankroll, you might decide that 1 unit = 1% = $10, and that’s your standard bet size on each game. Protecting your bankroll is crucial – it keeps you in the game during losing streaks. You never want to go “all-in” on one play and risk busting everything. The idea is to grow that bankroll steadily over time (or at least not lose it all!). Our article on money management strategies delves into tips for handling your bankroll like a pro. Bottom line: treat your bankroll like investment capital – bet responsibly, and don’t chase losses by exceeding your planned stake.

Book (Sportsbook) – Book is short for sportsbook – the entity (casino, website, bookie) that takes bets and sets the odds. When we say “the book” in betting context, we’re talking about the house. For example, “the book set the line at Patriots -6” means the sportsbook’s odds compilers decided the Pats should be six-point favorites. A bookmaker or bookie is a person or organization who runs a book. In modern terms, sportsbooks like DraftKings, FanDuel, or good old Vegas casinos are the “books” where you place your wagers. You’ll also hear phrases like “beating the book” (winning against the sportsbook) or “the book’s handle” (total money bet) and “the book’s hold” (profit kept by the house). Remember, the book always has an edge (the vigorish or juice), but skilled bettors try to outsmart the odds.

Buck (Dollar) – In betting slang, a “buck” typically means a $100 wager, not just $1. This can be confusing to newcomers, since a “dollar” in everyday life is just $1. But in the context of betting talk, you might hear someone say “I put a buck on the Giants,” which actually means they bet $100 on the Giants. Similarly, “two bucks” could mean $200, and so on. It’s jargon often heard among old-school bettors and bookmakers. For clarity:
• $100 bet = 1 buck (also sometimes called a “dollar” in slang)
• $500 bet = a nickel (we’ll get to that under “N”)
• $1,000 bet = a dime (see “D” below)

So, if a friend boasts, “I dropped a few bucks on that parlay,” now you know they wagered a few hundred dollars – not just a few singles!

Cash Out – Cash out is a feature many modern sportsbooks offer that lets you settle your bet before the game is over (or before an event is final). It’s the book saying, “We’ll pay you X right now to close your bet, take it or leave it.” The cash out amount depends on how your bet is doing. If your team is winning comfortably, the cash-out offer might let you lock in some profit (though usually a bit less than you’d win if you let it ride). If your bet is looking shaky, you might be offered a portion of your stake back to cut losses. Example: You have $50 on a 4-leg parlay and the first 3 legs hit; the book might offer you $200 to cash out before the final leg – guaranteeing a profit, but less than the full payout if the last leg wins. Cash outs give bettors flexibility to secure winnings or limit losses, but keep in mind the book usually builds in a small edge on the offer. It’s up to you – ride it out, or take the money and run!

Chalk – Chalk refers to the favorite in a game. If you’re “betting the chalk,” you’re backing the team expected to win (often a heavy favorite). The term comes from old-school bookmakers who would write odds on a chalkboard – favorites were prominently noted. A chalk player is someone who habitually bets favorites. For example, if Duke is -10 vs. an underdog, a chalk bettor will happily lay the points with Duke. Many casual bettors gravitate to favorites (it feels safer to pick the “better” team), which is why you might hear a phrase like “the public loves the chalk.” Betting nothing but big favorites might sound easy, but it isn’t always profitable since favorites have lower payouts, and the point spreads are designed to even things out. Sometimes the chalk does win (hence the phrase “chalk holds”), but upsets and underdogs are a fact of life. In summary: chalk = favorite. If you always eat the chalk, be careful – upsets might give you indigestion.

Closing Line – The closing line is the final odds or point spread for a game when betting closes (typically right at kickoff or start time). It’s the number that the market settles on after all the late money and last-minute adjustments. For instance, a game might open with Team A -3 on Monday, fluctuate during the week, and then close at Team A -4 by game time, due to heavy betting on Team A. Serious bettors pay a lot of attention to the closing line – it’s often considered the most accurate reflection of the teams’ true odds (since it’s shaped by all the information and betting action right up to the start). If you consistently get a better number than the closing line (say you bet Team A -3 early in the week when it closes -4), that’s generally a sign of good closing line value, which we’ll explain next.

Closing Line Value (CLV) – CLV is a measure of how good your bet is relative to the final closing line. In simple terms, it’s the value you got versus where the line ended up. For example, if you bet the Bengals at -2.5 on Wednesday and by Sunday the Bengals are -4, you’ve got positive CLV – you beat the closing line by 1.5 points. That’s generally a great sign, as it means you got a better price than the consensus right before kickoff. Bettors chase CLV because, over the long run, beating the closing line is correlated with being a winning bettor. It’s often said, “If you consistently get CLV, the money will follow.” However, note that closing line value is not a guarantee a single bet will win (you could beat the line and still lose the bet – it happens). It’s more of a long-term indicator. If you often hear sharps brag, “I got great CLV on that play,” they’re talking about getting a number better than the closing line. Negative CLV would be the opposite (you bet at -4 and it closed -3, meaning you took the worse price). In summary: CLV is a way to grade the quality of your bet against the final market – positive CLV is what you want to see as a bettor.

Cover – To cover means to win a bet against the spread. If a team “covers the spread,” it means they exceeded the sportsbook’s point spread expectations. For a favorite (minus points) to cover, they must win by more than the given point spread. For an underdog (plus points) to cover, they must either win outright or lose by fewer than the point spread. Example: You bet the underdog +7 points. If they lose by 6, you win because they covered the +7 (kept the game within the spread). Similarly, if you bet the favorite -7 and they win by 10, you covered comfortably. Bettors will say “Team X covered” or “Team Y failed to cover” to describe ATS outcomes. Covering is all that matters in spread betting – a team can win the game but not cover the spread if they win by less than expected. (As a noun, a “cover” refers to the result itself, as in “that late touchdown was a backdoor cover.”) Pro tip: Don’t celebrate a favorite’s win until you’re sure they covered the number you laid – plenty of bets have been lost on a win that wasn’t big enough!

Correlated Parlay – A correlated parlay is a parlay where the outcomes are closely related (so much so that if one part wins, it significantly increases the chances the other part wins). These are essentially “too good to be true” combos that sportsbooks usually won’t allow because they can give bettors a big edge. For example, a classic correlation is a college football game with a low total: parlaying the underdog +points AND the under total. If it’s a low-scoring game (under hits), it’s more likely the underdog stays within the spread. Another example: first-half and full-game spreads – if a team covers the first-half spread, there’s a higher probability they cover the game (not guaranteed, but correlated). Why books avoid them: if one leg winning makes the other leg more likely, the true odds of the parlay are better than the simple multiplication of independent events. In a strongly correlated scenario, a parlay could become a positive expectation play for bettors (and a losing proposition for the book). Thus, most sportsbooks block obvious correlated parlays (you usually can’t parlay a side and total of the same game that are highly linked, etc.). Some niche cases slip through, but it’s rare. In short, a correlated parlay is a bettor’s dream scenario – two bets that go hand-in-hand – but don’t expect your book to accept it. (We dive deeper into examples and math of these in our article on correlated parlays if you’re curious.)

Dime – In betting slang, a dime means $1,000. It’s used to describe the size of a wager. For instance, “He threw a dime on the Lakers tonight” means he bet $1,000 on the Lakers. Bookmakers might also refer to big clients as “dime players,” meaning those who regularly bet in thousand-dollar increments. The term is often used by more seasoned or high-rolling bettors. If you see records like “+15 dimes” on a forum, it means +$15,000. There’s also the term “dime line”, which you might encounter in baseball betting – that refers to a moneyline where the juice is 10 cents (for example, +100 / -110 is a dime line). But for our purposes here, a dime = $1,000 bet. Keep that in mind when swapping war stories – “I lost 3 dimes on that bad beat” is a lot more money than it sounds if taken literally!

Dog – See Underdog in “U” below. (In betting conversation, “dog” is just shorthand for an underdog. If someone says “I like the dog in this fight,” they mean they’re betting on the team or athlete getting points or listed at plus odds.)

Edge – An edge is the advantage one side has over the other. In betting, when we say “I have an edge”, we mean we believe our analysis or info gives us a better chance to win than what the odds suggest. For example, if you think Team A has a 60% chance to win but the odds imply only a 50% chance, you’d say you have an edge on Team A (because the true probability is higher than what the odds are based on). Bettors are constantly hunting for edges – it could be spotting a bad line, having injury news before the books adjust, or just deeper knowledge in a niche market. The book’s edge is the house advantage (often the juice) that tilts the math in their favor. Your edge is any factor that tilts it back toward you. A common mantra is “bet when you have an edge, pass when you don’t.” Without an edge, you’re basically flipping coins against the sportsbook (and paying the vig). Successful sports investing is all about finding that edge, no matter how slight, and exploiting it over many bets.

Even Money – Even money means odds that pay 1-to-1 – essentially, you win the same amount as you risk. In American odds, even money is +100 (or some books might list it as EVEN). If a bet is even money, a $100 wager wins $100 profit (plus your stake back). In fractional odds, this is 1/1, and in decimal, it’s 2.00. Sometimes, you’ll hear people say “I got even money on that,” meaning they didn’t have to pay any juice (vig) – the payout was equal to the stake. For example, if two evenly matched teams play, you might see a moneyline of -110 on each (which is not quite even due to juice). True even money would be +100 on both sides (if a book decided to offer no vig for some reason). Another context: “Even money” propositions – someone might say “It’s even money that it rains tomorrow,” just colloquially meaning a 50/50 chance. In betting terms, even money is a nice round reference point – if you’re getting plus odds, you’re getting better than even money. If you’re laying minus odds, you’re getting worse than even. And of course, even money is what you get in something like a coin flip bet (50% win chance, double or nothing payout).

Exotic – An exotic bet (or exotic wager) refers to any wager that is not a standard straight bet on a side or total, and not a simple moneyline. It’s a broad term that covers things like parlays, teasers, props, futures, round robins, etc. Basically, if it’s not just “Team A vs Team B, I pick a winner or a spread,” it might be labeled an exotic. In sports betting, a lot of prop bets (like “Who will score the first touchdown?”) are considered exotics. Futures (betting on champions well in advance) can also fall into this category. The term is borrowed from horse racing, where exactas, trifectas, etc., are called exotic bets (as opposed to a simple win/place/show). Exotics often have higher payouts or more complex conditions, making them attractive but also usually harder to win. They’re the fun, creative bets that go beyond the basics. Enjoy them, but remember: with increased complexity often comes a higher house edge. Always good to mix in some exotics for entertainment, but keep a solid portion of your bankroll on the fundamentals!

Favorite – The favorite is the team or competitor expected to win. In the betting odds, favorites are denoted by a minus (-) sign on the point spread or moneyline. For example, if the Chiefs are -7, they’re a 7-point favorite; if a boxer is -200, he’s the favored fighter and you’d have to risk $200 to win $100. Being the favorite means the sportsbook (and betting public) believe that side has a greater than 50% chance to win (in a moneyline) or should win by a certain margin (in a spread). Important: Favorites don’t always win – that’s why upsets are so celebrated. But generally, favorites are favorites for a reason (they’re the stronger side on paper). Some bettors love taking favorites (see chalk above), while others prefer underdogs for the potential bigger payouts. Also note, favorite can be used in the context of futures (“The Dodgers are the favorites to win the World Series at +300 odds” – meaning they have the lowest payout, hence best perceived chance). If you’re betting a favorite on the spread, you’re “laying the points” – you’ll need them to not just win, but win decisively enough to cover. On the moneyline, you’re “laying the price” (the odds).

Fade – To fade means to bet against someone or something. “Fading the public” means you’re betting the opposite side of the popular bet (going contrarian). If a friend is on a cold streak with picks, you might jokingly (or seriously) say, “I’m going to fade you” – i.e., take the other side of his bets. The term can apply to teams too: “The Knicks are on a back-to-back and look exhausted; I’m fading them tonight.” That means you’re betting against the Knicks. Why fade? Sometimes bettors fade the public or a particular tipster because they believe there’s value in going the other way (like if hype is inflating a line). Other times it’s just a gut feeling that a team is overrated. Be careful with the concept of automatic fading – just because “everyone” is on one side doesn’t mean that side will lose. But betting against the crowd can indeed be profitable in the right spots. When you hear “so-and-so is a fade” or “I’ll fade Team X,” just translate that to “I’m against them.” In our world, being a contrarian can sometimes pay off.

Field – The field typically refers to a betting option that includes “all other contestants not listed.” You see this mostly in futures or prop bets with many possible outcomes. For example, in a golf tournament, you might have odds for top players and then an option for “Field (any other golfer)” at some price. If you bet the field, you’re betting on someone who wasn’t individually listed to win. Another example: In a prop like “Who will win MVP?” you might get a list of 5 star players and then “the field” as the rest of the players combined. The field is generally composed of underdogs – any one of them individually might be a long shot, but collectively they represent a chunk of possibility. Sometimes bettors like the field in wide-open situations, since you’re getting all the underdogs on your side. It’s a fun way to bet if you don’t have a specific pick but feel the favorite(s) might falter. Just remember, the field bet only pays if none of the named options win – you need one of the dark horses to come through.

Futures Bet – A futures bet is a wager on a long-term outcome, usually something at the end of a season or tournament. Common futures include betting on a team to win the Super Bowl, World Series, NBA Championship, or a player to win MVP, etc. These bets are made well in advance of the result (often before or during the season, long before the finals are determined). The odds can be quite high for futures, especially if you’re betting far out. For example, before the season, the Jacksonville Jaguars might be +5000 (50-to-1) to win the Super Bowl. If you’re bold enough to bet it and they somehow pull it off, you get a massive payout. Futures odds are adjusted as the season progresses – they shorten for the top contenders and lengthen for the longshots or teams doing poorly. One thing to note: futures bets tie up your money for a long time (could be weeks or months) since they won’t settle until the outcome is decided. But they can be fun and lucrative if you have a strong prediction about a team’s success. Also, hedging comes into play with futures; for example, if your 50-1 longshot makes the finals, you might hedge by betting the other side to lock in profit. All in all, futures are those big-picture bets that keep you invested for the long haul – high risk, high reward, and a test of your preseason foresight.

Gambler’s Fallacy – The gambler’s fallacy is a common misconception that past independent events affect future outcomes in a game of chance. In sports betting, it often manifests as “Team X has lost 5 in a row, so they’re due for a win,” or “I’ve flipped heads five times straight, the next one has to be tails.” The reality: if each event is independent (like coin flips, roulette spins, or even many sports scenarios), the probability doesn’t change based on what happened before. A coin is still 50/50 on the next flip regardless of how many heads or tails came up prior. In betting, this fallacy can lure people into bad bets, thinking a trend must reverse. For example, just because a basketball team has missed the last 10 shots doesn’t guarantee the next shot goes in (though the intuition says “They can’t miss again, can they?!”). Or a roulette player might keep doubling their bet on black because “red has hit 8 times in a row, black is due!” – sometimes leading to huge losses when red hits a 9th time. The lesson: Avoid the gambler’s fallacy. Streaks or patterns in random sequences don’t influence the next outcome. Always assess a bet on its own merits, not on what happened before. Teams on winning streaks aren’t automatically more likely to lose just because “they’re due for a loss” (same for teams on losing streaks due for a win). Focus on real factors, not the coin-flip logic in your head!

Grand Salami – The Grand Salami is a fun (and somewhat exotic) wager typically offered in hockey or baseball, where you bet the total combined runs/goals scored in all games on a given day. For example, an NHL Grand Salami might be set at 45.5 goals for a day with a full slate of games. You can bet the over (that 46 or more total goals will be scored across all games combined) or the under (45 or fewer total goals scored). It’s a way to have action on a whole league’s worth of games with one bet. The name “Grand Salami” presumably comes from knocking it out of the park – like a grand slam but salami for the whole “meat” of the day’s schedule. These bets are appealing if you want to sweat every game without picking sides. Note: The handicap (line) is set based on expected scoring across all matchups, and it can be tricky because you have to handicap weather, starting pitchers, etc., collectively (for baseball) or all goalie matchups (for hockey). But it’s mostly for entertainment. If you can’t decide on individual games or just want a league-wide sweat, the Grand Salami is your tasty option. Just don’t eat actual salami for stress-eating if things get wild in the late games and your over/under teeters on the edge!

Handle – The handle is the total amount of money wagered on an event or a set of events. If a Super Bowl has a $200 million handle in Vegas, that means $200 million in bets were placed on that game. It’s the volume or turnover. Sportsbooks and media will talk about the handle to indicate how big the betting interest is. For example, “This fight is drawing a huge handle” means lots of money (bets) coming in. Handle is different from revenue or profit – it’s just the total bets. The hold (or hold percentage) is how much of the handle the sportsbook keeps as profit (after paying out winners). So if the book’s handle on the Super Bowl was $200M and they paid out $190M in winnings, their hold (or revenue) is $10M (which would be a 5% hold). Bettors usually don’t need to worry about handle except as a curiosity (“Dang, March Madness handle broke records this year!”). But it can hint at how popular an event is or if a book might adjust lines (a game with a big handle might have more stable odds since a lot of money is shaping the line). In sum: handle = total bets. More handle usually means more interest – and sometimes more opportunity for savvy bettors to find value if lots of casual money is pouring in on one side.

Handicapper – A handicapper is anyone who analyzes and predicts the outcome of sporting events, i.e., someone who makes picks or betting recommendations. If you study stats, matchups, and trends to decide which team to bet on, you’re handicapping the game, and thus you’re a handicapper at that moment. The term is also used for professionals who sell their picks or provide betting advice (like the top professional handicappers who offer picks on BoydsBets). In horse racing, a handicapper might be assessing horses’ chances. In sports, a lot of bettors call themselves handicappers when they take their analysis seriously. Handicapping as a verb means the process of setting your own line or probability and finding discrepancies with the book’s line. Interestingly, sportsbooks employ oddsmakers who “handicap” games to set the opening lines. And bettors handicap to find bets where they think the book’s line is off. If you see “according to one handicapper, Team A has a big edge in rebounding,” it refers to an analyst’s opinion. Many sites have handicapping contests where participants make picks to see who’s best at predicting winners. In short: if you’re trying to pick winners (with research to back it up), you’re wearing the handicapper hat. Wear it with pride – just remember, even the best handicappers boast around 55-60% win rates. It’s an art and a science.

Hedge – To hedge a bet means to place a new bet against your original position to guarantee some profit or cut potential losses. It’s a risk management move – like betting insurance. Example: You have a $100 futures bet on the Bengals to win the Super Bowl at 10-to-1 odds (potential win $1,000). They make the Super Bowl! Now, you could hedge by betting on the other team’s (say, the 49ers) moneyline so that no matter who wins the game, you win something. If the 49ers are -130 favorites, you might bet enough on them to ensure a profit. Perhaps you put $520 on the 49ers to win ~$400. If the Bengals win, you get $1,000 from your futures but lose the $520 hedge (net $480). If the 49ers win, you get ~$400 from the hedge, minus your lost $100 futures (net ~$300). You’ve locked in a win either way. Hedging is common when bettors have long-shot futures that go deep, or parlays where only one leg remains. You can also hedge in-game if your team is up big – maybe take the other side +points live to freeroll a middle. Keep in mind: hedging often means sacrificing some maximum profit for safety. Some bettors hedge, others say “let it ride” for the full payout. There’s no right or wrong – it depends on your risk tolerance. The key is doing the math to ensure the hedge accomplishes what you want (there are hedge calculators to help with this). Hedging can bring peace of mind, and as the saying goes, “You’ll never go broke taking a profit.” You can use our hedging calculator for help on making decisions on whether to do it or not.

High Roller (Whale) – A high roller (sometimes called a whale in casino terms) is a bettor who wagers very large amounts. These are the big fish every sportsbook loves to have (as long as they lose, of course!). A high roller might routinely bet five or six figures on games. In a Vegas sportsbook, the high rollers are the ones in the VIP seats, sometimes with private rooms or services, because the amount of money they play commands special treatment. The term “whale” is more often heard in the context of casino table games (like the guys who bet $50,000 a hand in blackjack), but in sports betting it applies just the same – someone who bets huge. Sportsbooks might extend special credit or perks to high rollers. As a bettor, you don’t aspire to be called a whale unless you have the bankroll to back it. It’s not about skill, just the size of bets. Fun fact: being a high roller doesn’t guarantee you win; some whales are notorious for losing massive sums (and that’s how they get those comped suites and private jets – the casino wants them to keep coming). On the flip side, a high-stakes sharp is a book’s worst nightmare. In any case, “high roller” simply denotes a bettor playing at high stakes. If you’re dropping dimes like they’re quarters, congrats, you’re in that club – just gamble responsibly, no matter the scale.

Hook – The hook is slang for a half-point on a point spread or total. For example, if a spread is 7.5, we say “seven and a hook.” The hook is that .5 which means no chance of a push – there will be a winner or loser against the spread. The hook often becomes infamous when it’s the decider: “I lost by the hook!” means your bet fell just a half-point short. Say you had Under 45.5 and the game ended 24-21 (total 45) – you won by the hook (sneaked under by half a point). Conversely, if it ended 24-22 (total 46), you lost by the hook. Bettors have a love-hate with hooks. Some like seeing a hook when they’re on the underdog (+3.5 feels safer than +3, that extra half point could save you). Others fear the hook when laying points (-6.5 is fine, -7.5 includes a hook that might burn you if the team only wins by a touchdown). A very common phrase is “lost by the hook,” which is a mini bad beat when a half-point makes the difference. Moral of the story: always be mindful of the hook. Lines often move off key numbers to add a hook (e.g., 3 to 3.5, or 7 to 7.5) – those are significant moves because that half point can swing a bet’s outcome around those key numbers. The hook might be tiny, but in betting, it’s mighty!

If Bet – An if bet is a type of conditional wager where one bet’s execution depends on the result of another. It’s like chaining bets together with an “if” condition. For example: You place an if bet with Bet A “if win then Bet B.” This means you wager on Team A in the early game, and if that bet wins (some books allow if push or cancel as well), then automatically a bet on Team B in the later game is placed. If the first bet loses, the second bet doesn’t go through – saving you that stake. Essentially, an if bet lets you link two bets so that the second only happens if the first is successful (or at least not a loss). Some bettors use if bets to manage risk instead of parlaying – it’s a way to potentially roll winnings from one bet into another without risking the second stake if the first fails. Keep in mind, if bets, like parlays, can reduce your total risk (since the second bet might never happen if the first loses), but they also limit profit potential compared to winning both bets outright separately. It’s a somewhat niche wager type – not every sportsbook prominently advertises it, but many have the option if you ask. If bets can also chain more than two bets (some call those “if win and continue” bets). Similar to if bets are “reverse bets,” which are just a pair of if bets in the opposite order to cover both sequences. For a casual bettor, you might not use these often, but it’s good to know what they are. In summary: “If my first bet wins, then I bet that win on the second game. If not, I’m done.” That’s an if bet in practice.

In-Play (Live) Betting – In-play betting, also known as live betting, is wagering on a game while it’s happening in real-time. Thanks to modern sportsbooks and technology, you don’t have to get all your bets in before kickoff. Once the game starts, many books offer continuously updating odds on the spread, moneyline, total, and various props as the action unfolds. For example, maybe you missed the start or want to see how a team looks early – you can jump in during the second quarter and bet a live point spread. Or if a heavy favorite falls behind early, you might snag them at a better price live than pre-game. Live betting can be fast and furious: lines move with each play, each score, and each momentum shift. It opens a ton of opportunity – you can hedge pregame bets, double down, or just find new angles (like betting the next team to score, adjusting over/unders at halftime, etc.). It does require quick decision-making (the odds can disappear in seconds if a big play happens). Also, be aware: the book usually bakes in a bit more juice on live lines due to the volatility and unknowns. And there might be slight delays in what you see on TV vs. the book’s feed. But it’s a fun way to engage with a game; every moment can become a betting opportunity. Just remember to bet with a clear head – live betting can sometimes lead to chasing losses if you’re not careful. As long as you stay disciplined, in-play wagering is an exciting tool in the modern bettor’s arsenal.

Juice (Vig or Vigorish) – Juice is the bookmaker’s commission – the cut the house takes on each bet, also known as vig (short for vigorish). It’s essentially the price you pay to place the wager. On a standard point spread, you often see odds of -110 on each side – that extra -10 is the juice. It means you wager $110 to win $100. That $10 difference is the book’s profit margin if bets are balanced. Another way to think of juice: it’s the reason why when you win a $100 bet at -110, you don’t quite double your money – you get $90.91 profit instead (because the other $9.09 was juice on your bet). Juice can vary: -110 is standard, but books might offer reduced juice like -105, or charge extra juice on certain lines (e.g., -115 or -120 on one side) if there’s an imbalance or they’re adjusting without moving the point spread. For moneylines and other bets, the juice is built into the odds (e.g., a tennis match might be -120 / +100, where the gap indicates juice). Why juice matters? It affects your break-even percentage. At -110, you need to win ~52.38% of bets to break even. At -105, only ~51.2%. Lower juice means higher potential profit long-term. As a bettor, you want the lowest juice possible (that’s why line shopping is key). When someone says “The juice is killing me,” they mean the vig is eating into profits. Phrases like “no juice” or “even money” mean no commission (rare outside promos). In casual talk, you might hear “What’s the juice?” meaning “What’s the vig on that bet?” So, always account for the juice – it’s how sportsbooks stay in business and how even a 50/50 proposition becomes slightly in their favor. Manage it, shop around, and you’ll save money in the long run. (Synonyms: Vig, Vigorish – if you see those, same as juice.)

Kelly Criterion – The Kelly Criterion is an advanced bankroll management formula used to determine the optimal size of a series of bets to maximize the growth of your bankroll over time. In simpler terms, it tells you what percentage of your bankroll to bet when you believe you have an edge on a wager. The formula takes into account the odds and your estimated probability of winning. If you have a big edge, Kelly suggests a larger bet; a small edge, a smaller bet; no edge, no bet. The exact formula is: Bet % of bankroll = (p * b – q) / b, where p is the probability of winning, q is the probability of losing (i.e. 1-p), and b is the decimal odds minus 1 (basically the net odds). For example, if you think you have a 55% chance to win a bet at -110 (which is 1.91 decimal, so b = 0.91), Kelly would say bet about 5% of your bankroll on it. If that math made your eyes glaze over, don’t worry – many casual bettors don’t use Kelly explicitly. But it’s popular among professional bettors and investors because it theoretically maximizes long-term growth and manages the risk of ruin. One thing: Kelly can sometimes recommend bets that feel too large (and can lead to big swings), so some people use a “fractional Kelly” (like half-Kelly or quarter-Kelly) to be more conservative. Essentially, the Kelly Criterion is all about sizing your bets relative to the confidence and edge you have. It’s a cool concept that blends probability and money management. If you’re aiming to be an aspiring sharp, it’s worth reading up on and maybe using a Kelly calculator to play with scenarios. Even if you don’t follow it strictly, understanding Kelly will level up your appreciation for smart bankroll strategy.

Key Numbers – Key numbers are specific margins of victory (or total points) that occur more frequently than others, especially in football. They’re “key” because games often land on these numbers, so they have extra importance when betting point spreads or totals. In NFL and college football, the king of key numbers is 3 (a field goal). Games decided by 3 points are very common. Next up: 7 (a touchdown and PAT). Other secondary key numbers: are 4, 6, 10, 14, etc., but 3 and 7 are the big ones. For example, a spread move from 2.5 to 3 or 3 to 3.5 is huge because it crosses the key number of 3. Many bettors will pay extra juice to get a line from -3 to -2.5 (to be on the right side of that field goal). In totals, key numbers exist too, like common combined scores, but they’re less talked about than in spreads. Basketball has some key-ish numbers (like 5 in the NBA, since 5-point games happen a lot due to late free throws), but it’s more pronounced in football. When you hear “buying on/off a key number,” it means adjusting the spread by a point or two around 3 or 7, often for a hefty price, because those outcomes are so common. We have a whole guide on key numbers in betting, which is worth a read if you bet a lot of football. Knowing about key numbers helps you understand line moves and when getting or laying the hook (half-point) matters. It’s one reason why a spread of +3.5 is much more attractive for an underdog than +3 – that half-point is pure gold around the key number 3. Same with a favorite at -6.5 vs -7. So keep those key numbers in mind – they’re part of the chess match between bettors and books when setting and betting lines.

Line – The line refers to the betting odds or point spread for a game. You’ll hear phrases like “What’s the line on the Monday Night game?” – meaning what’s the point spread or odds? The line can encompass the spread, total, or moneyline, but often it’s shorthand for the point spread. For example, if someone says “The line is Patriots -6,” that’s the current point spread. Or “the line moved from -6 to -7” means the spread shifted a point (likely due to heavy action on the favorite). The line is a very commonly used term: we talk about opening lines (the initial odds when the book first posts them) and closing lines (the final odds before kickoff). We discuss line movement (how odds change over time) – e.g., “There was significant line movement toward the underdog after the injury news.” If a line is off the board, it means betting is suspended (no current line available). People also refer to “betting lines” in general as in “Did you check the lines this morning?” Online, you might see the “consensus line” or “Vegas line” referencing the prevailing odds across books. Essentially, line = the numbers we bet into. So when in doubt, “the line” is either the spread or odds that you need to make your pick against. Pro tip: always shop around for the best line – small differences (like -2.5 vs -3, or +110 vs +105) can matter in the long run. And when someone says “That line looks fishy,” they mean the odds don’t match their expectation, hinting at maybe some insider info or trap. Welcome to the world of reading the lines!

Limit – A limit (or betting limit) is the maximum amount a sportsbook will allow you to wager on a particular bet. Every book sets limits to manage their risk. For example, a Tuesday afternoon college basketball game might have a smaller limit (say $1,000) while the Super Bowl could have a huge limit (tens of thousands or more) because the book is willing to take bigger bets on high-profile, liquid markets. If you’re a casual bettor, you might never bump into limits – they’re more an issue for high rollers or very sharp bettors. But it’s good to know that if you try to bet an unusually large amount, the book might only accept up to a certain amount. Some books publicly list their limits, others adjust on the fly. Sometimes, games are “circled” (marked with lower limits) due to uncertainty like injuries or weather, meaning the book is being cautious. Also, if you’re winning a lot or suspected of being sharp, a book might start giving you lower personal limits (the dreaded “account limiting”). On the flip side, if you’re betting parlays or props, those usually have lower limits than big straight bets. In conversation, you might hear “I wanted more on that game but I hit the limit.” That bettor bet the max allowed. Table games vs. sports: In a casino, you see signs like “$5-$500 limit” on blackjack tables – same idea, the min and max bet allowed. In sports, it’s behind the scenes but always in play. So, if you ever find the book won’t take the full amount you tried to bet, it’s because you ran into a limit. It’s a reminder that even if you have deep pockets, the book controls how much action they take on anything.

Lock – A “lock” is a slang term for a bet that is supposedly a sure thing – a guaranteed winner. You’ll hear it from overly confident bettors or, unfortunately, from shady touts selling picks: “This game is a 5-star lock of the week! Easy money!” The reality: there’s no such thing as a true lock in sports betting because nothing is 100% certain. Upsets happen, bizarre plays happen, and Lady Luck has a way of humbling us. When someone says “It’s a lock,” take it with skepticism. They might be very confident, but remember that even the best bettors only win ~55-60% of the time, and that’s considered fantastic. The term is more part of the gambler’s lingo – often used casually or humorously. Like, if your friend says “The Packers at home in December? Lock it in,” they just mean they feel really good about that bet. New bettors should be cautious of anyone promising locks (especially if they want you to pay for it) – it’s kind of a red flag in the industry. There’s no such thing as a lock. That said, using “lock” jokingly among friends is fine as long as you know it’s not truly a guarantee. It’s part of the fun bravado of betting culture. Just don’t mortgage your house because you think you found a “lock” – that’s how locks can get you locked in the poor house. Always bet with your head, not just on some lock-of-the-century hype.

Martingale – The Martingale is a betting system (more popular in casino games, but some try it in sports) where you double your bet after each loss, with the idea that eventually a win recoups all prior losses plus a profit equal to the original stake. For example, you bet $10 and lose, next bet $20 and lose, next bet $40 and lose, next bet $80 and win – that win gives you $80 at even odds, covering the $10+$20+$40 losses = $70, and leaves a $10 profit (your original stake). Sounds foolproof? It’s not. Martingale assumes you have infinite money and the book has no limits, so you can keep doubling until you win. In reality, tables/bookies have max bet limits and your bankroll is likely limited too. A bad losing streak can escalate required bets to insane levels quickly. Imagine 10 losses in a row starting at $10: your 11th bet would need to be $10 * 2^10 = $10 * 1024 = $10,240 to get that $10 profit at the end! Most of us (and our sportsbooks) would be tapped out or freaking out by then. In sports, sometimes people try a Martingale on, say, moneyline favorites or in-game bets, thinking a team won’t lose X times in a row. It can work for a while (and feels good because you often do win eventually and wipe out losses), but the downside risk is massive. One unlucky streak and you’re busted. In summary, Martingale is the ultimate “chasing losses” strategy – doubling down until you hit. It’s generally not recommended as a viable long-term strategy. It’s more of a cautionary tale in gambling circles. Better approaches involve flat betting or proportional betting (like Kelly, as mentioned) when you think you have an edge. Martingale turns betting into a precarious all-or-nothing proposition. Use it at your own peril (and preferably, don’t).

Middle – A middle is a sweet spot where a bettor can win two bets on the same game, effectively scoring a double victory due to line movement or discrepancy. To “middle” a game, you typically place opposite bets at different lines in such a way that there’s an overlap region (the “middle”) where both bets win. Example: Early in the week, you bet Over 47 in a game. Later, the total rises and you bet Under 51. Now you have Over 47 and Under 51. If the game lands between 48 and 50 points, you win both bets (the game went over 47 and under 51!). If it lands 47 or below, your over bet pushes or loses (depending on 47 exactly or under), but your under wins; if it lands 51 or above, your under pushes/loses but your over wins. So worst case, you usually break even (one wins, one loses), but the dream scenario is it lands in the middle and both tickets cash. This is a way to arbitrage a moving line with the upside of a double win. Another classic case: you bet a team at -3, and later the line moves to +4 for the other side, so you take +4. Now if the favorite wins by 3 or 4, you can win both (or one pushes one wins). Middling opportunities can come from line moves (maybe due to injuries, weather, or heavy action) or having access to different lines at different books. Sharp bettors love to set up potential middles, especially around key numbers. Books dread when their line moves a lot because middlers might hit them twice. Keep in mind, that going for a middle means you’re essentially sacrificing a guaranteed win on one side (if you kept your original bet only) for a chance at two. If the line movement is big and the middle window is wide, it can be worth it. When someone says “I’m trying to middle it,” they have bets on both sides and are aiming for that goldilocks outcome in between. It’s one of those savvy strategies that show the more advanced game within the game of sports betting.

Moneyline – A moneyline bet is the simplest form of betting: picking a team or player to win outright, with odds determining the payout. No point spreads involved – it’s just win or lose. The moneyline odds are expressed with the familiar plus (+) and minus (-) system in American odds. For example, -200 means you must bet $200 to win $100 (this is a favorite, expected to win), and +170 means a $100 bet wins you $170 (this is an underdog). So if you see Patriots -200 vs Dolphins +170, the Pats are favored and you’d have to risk more to back them, whereas the Dolphins are underdogs and would pay out more on an upset. Moneylines are common in baseball and hockey (where point spreads are usually just 1.5-run or goal “puck line” alternatives), and also in any sport for betting the straight outcome (like an NFL or NBA game without the spread). They’re great for games where you have a strong feeling on an underdog to win outright, or if you don’t want the stress of covering a spread with a favorite (you can just bet them to win, albeit at a cost). Remember that negative odds = favored (risk more to win less), positive odds = underdog (risk less to win more). If two teams are roughly equal, you might see something like -110 / -110 or -120 / +100. A pick’em game (evenly matched) might be around -110 each or sometimes listed as PK or EVEN. Moneyline odds also imply probabilities – for instance, -200 implies about a 66.7% chance of winning, +200 implies about a 33.3% chance (ignoring juice). One more thing: moneyline can also refer to the odds themselves (“What’s the moneyline?” “Patriots are -200”). So whether you’re betting UFC fights, tennis matches, or just for an NFL team to win, moneylines are your go-to. Just pick the winner and lock it in – no need to worry about point margins, just who comes out on top. (See What are Moneyline Bets for more)

Nickel – A nickel in betting slang means $500. It’s half a dime (and a dime, as we covered, is $1,000). So if someone says “I put a nickel on the Rams,” they wagered $500. Bookmakers might quote “nickel lines” meaning lines with a five-cent difference (more common in baseball, e.g., -105/+100 is a nickel line). But usually, when bettors talk in slang, a nickel is the amount of the bet. Like, “He’s a nickel player” means he typically bets $500 a game. It follows the theme: $100 = Buck, $500 = Nickel, $1,000 = Dime. Some also say “five dimes” for $5,000, etc., but nickel and dime are very common lingo. If you’re at a sportsbook counter in Vegas and say “Give me a nickel on #423,” they’ll understand you want $500 on whatever team is rotation 423. It’s a quick way to speak in code… or to sound like a high roller. Keep in mind this is jargon mostly among those who bet larger amounts; casual $10-$20 bettors might not use it (saying “I put a nickel” when you mean $5 would be quite the exaggeration!). But even if you don’t bet that big, it’s good to know what it means so you’re not thinking someone wagered 5 dollars when they meant $500. Betting language is funny like that – it borrows from currency (nickels, dimes) but means much more. So next time you hear “he dropped a nickel,” remember: we’re talking $500 on the line, not chump change.

No Action – A bet graded as “No Action” means it’s essentially canceled and your stake is refunded. It’s as if the bet never happened – no win, no loss. This usually occurs due to certain conditions not being met or events not going the distance. Examples:
• Rainout/Postponement: You bet on a baseball game but it gets rained out and rescheduled – most sportsbooks grade those bets no action (since the game didn’t finish on the scheduled day with at least X innings).
• Player Props: You bet on a player prop (say, a player to score a touchdown) and that player was inactive/DNP – no action, you get your money back.
• Fighter Withdrawal: In MMA or boxing, if a fight gets canceled or a fighter is replaced, bets could be no action depending on house rules.
• Totals/Spreads with OT or not reaching a certain time: Some niche bets like quarter totals might require the full quarter played or else no action.
Another common scenario is a push in a parlay – that leg becomes “no action” and the parlay just reduces (e.g., a three-team parlay with one push becomes a two-teamer).
Books also have rules like “must start” or “must play X minutes” for player-related bets, otherwise no action. It’s important to read the house rules. Also, in some cases of tie or exact outcomes that weren’t offered (like a 3-way line in soccer and it lands on a result that isn’t one of the two 2-way bets), you might get no action, but usually a tie is just a push if not explicitly bettable.
When you see your bet slip marked as “No Action,” don’t fret – it just means you’ll get the stake back. It’s neither a win nor a loss. Some bettors even root for no action if a game is going south but the weather might bail them out! But you can’t count on that. Essentially, no action = bet off, money back. Nothing gained, nothing lost.

Octopus – An octopus in football betting is a term that’s relatively new and quirky: it refers to a single player scoring a touchdown and the ensuing two-point conversion, thus scoring 8 points on one drive (like an octopus has 8 legs). The term was coined around 2019 (credit to Sports Illustrated writer Mitch Goldich) and has since become a fun prop bet in big games like the Super Bowl. For a player to be credited with an “octopus,” they must be the one who scores the TD (rushing it in or catching it in the end zone) and the same player scores the 2-point conversion. It’s a pretty rare feat – as of the end of the 2022 season there have been a limited number of octopi (yes, that’s the plural!) in NFL history. Sportsbooks have jumped on this novelty, offering props like “Will any player have an octopus?” or “Player X to record an octopus” at long odds. For example, in the Super Bowl, you might see “Any player to score an octopus: Yes +1400”. It’s the kind of bet that’s mostly for fun, given its rarity. If you ever see “Octopus” mentioned in betting content, now you know it’s not about the sea creature or a crazy parlay with 8 legs (though that would be a clever name for one). It’s literally about one player racking up eight points in one sequence. A famous recent octopus: during Super Bowl LVI, Rams receiver Cooper Kupp achieved an octopus (scored a TD and the 2-pt conversion) – and yes, some bettors cashed in on that prop! So while an octopus bet isn’t a staple like spread or total, it’s part of the expanding landscape of creative props that add flavor to our betting menu. (For more on the history and examples, see our detailed article on the octopus bet).

Off the Board (OTB) – If a game or bet is off the board, it means the sportsbook has taken it down – you currently cannot bet on it. This usually happens when there’s unexpected news that could drastically affect the odds, such as a star player’s injury status up in the air, or maybe severe weather looming, etc. For example, say a quarterback is questionable and a last-minute decision – the book might pull the game off the board until they know if he’s playing. You’ll often see “OTB” on screens in Vegas or online next to a game where the odds would normally be. It’s essentially a temporary suspension of betting. Sportsbooks do this to protect themselves from betting on information they haven’t accounted for. If Aaron Rodgers suddenly is rumored to be out, bettors in the know might hammer the other side – so the book goes OTB until they confirm and adjust the line. Another scenario: certain props or lines might be off the board if a game has started (and live odds aren’t up yet), or if an earlier game outcome could influence a later game (like the second game of a doubleheader might be off until the first ends). When a game is off the board, you just have to wait. Sometimes it comes back with a new line (once news is confirmed), sometimes it might stay off until close to game time. It’s not a cancellation, just a pause. So if you hear “That game is off the board,” it’s not available to wager at the moment. Keep an eye on updates; books will repost as soon as they feel comfortable with the information. It’s essentially the book’s timeout to recalibrate.

Odds – Odds represent the likelihood of an outcome and determine how much a winning bet pays. In American betting, odds are typically shown as a positive or negative number (called moneyline odds). Positive odds (e.g., +150) mean you win that amount on a $100 bet (so +150 means a $100 bet wins $150 profit). Negative odds (e.g., -200) mean you must bet that amount to win $100 (so -200 means a $200 bet wins $100 profit). These American odds can be converted to implied probability: +100 is 50%, +200 is 33.3%, +500 is 16.7%; -150 is 60%, -300 is 75%, etc. (There’s math behind it, but roughly: +X = 100/(X+100) chance, -X = X/(X+100) chance). There are also other formats: Decimal odds (common in Europe) like 2.50 which means you multiply your stake by 2.50 to get the return (including stake); so 2.50 decimal is the same as +150 American. Fractional odds (common in UK) like 3/2, meaning win 3 for every 2 wagered (which is +150 again). But on BoydsBets we mainly use American style. Odds are set by sportsbooks to balance risk and reflect how likely an outcome is, and they move based on bets (and other factors). If a lot of money comes in on one side, the odds might shift to entice action on the other side. For example, a fighter at -150 might move to -180 if everyone’s betting on him. Longshot odds are high positives (like +1000), meaning a big payoff if it hits. Favorite odds are negative (like -300), meaning you have to risk more. When you place a bet, understanding the odds lets you know the potential payout: e.g., $50 on +200 yields $100 profit, and $50 on -200 yields $25 profit. Also, odds are a quick way to gauge public sentiment – heavy favorites vs underdogs. In casual terms, people might say “What are the odds…?” as a synonym for “What’s the chance…?” because that’s exactly what betting odds tell you. So whether you’re looking at a point spread (-110 standard odds) or a crazy prop (+5000), those numbers are the language of betting. Learn to speak it, and you can calculate your winnings and probabilities on the fly.

Over/Under (Total) – The over/under, or total, is a bet on the combined score of both teams in a game. The sportsbook sets a line for total points (or runs, goals, etc.), and you can bet whether the actual combined score will go over that number or under it. For example, a football game total might be 47.5. If you bet over 47.5, you need 48 or more total points scored to win. If you bet the under 47.5, you need 47 or fewer points in the game. It doesn’t matter which team scores, only the sum. If the total was a whole number (say exactly 48) and the game lands on 48, that’s a push (exact tie with the line, everyone gets refunded) – which is why books often use half-points to avoid pushes. Over/unders are popular because you can root for scoring or defense regardless of who wins. If you take the over, you’re cheering for touchdowns, three-pointers, goals – lots of offense and scoring. If you’re on the under, you want solid defense, missed chances, burned clock, and low scores. Totals aren’t just for final scores either; you’ll see first-half totals, team totals (just one team’s score), and even prop-specific overs/unders (like a player’s points or yards). The concept is the same: the book sets a benchmark, and you decide if reality will be higher or lower. Weather and venue can heavily influence totals (windy/rainy might drive a football total down, for instance). Also, different sports have different scoring norms (a baseball total might be 8.5 runs, a basketball total 221.5 points, etc.). But regardless of sport, if you understand “over means more points than the line, under means fewer,” you’ve got it. And remember: overtime counts toward totals (and yes, OT has crushed many an under bet in heartbreaking fashion!). One last thing – “total” and “over/under” are interchangeable. So someone asking “What’s the total in the Lakers game?” is the same as “What’s the over/under?” All right, time’s up – did we go over or under our explanation quota here?

Parlay – A parlay is a single bet that combines multiple wagers (legs), all of which must win for the parlay to pay out. It’s a high-risk, high-reward bet: by stringing together several picks, you multiply the odds and the potential payout grows, but one wrong pick and the entire parlay loses. For example, a simple 3-team NFL parlay might be: Patriots -3, Bears +4, and Over 45 in Chiefs/Broncos. If all three selections hit, you win (and the payout might be around 6 to 1 for a 3-teamer). If any one of them fails, the parlay is busted. Parlays can range from 2 legs to huge multi-leg monsters (some books allow 10-12 leg parlays or even more). The allure is obvious: you can risk a little to win a lot. For instance, a $10 5-leg parlay could pay hundreds. Bettors love to talk about hitting a big parlay like a lottery ticket. But parlays are tough – the more legs, the more variables that can go wrong. Sportsbooks have a higher hold percentage on parlays, meaning they’re generally profitable for the house in the long run (hence why they often encourage parlays). Still, they’re fun and can be rewarding. You can parlay point spreads, moneylines, totals, even props or different sports together (mix an NFL pick with an NBA pick, etc., as long as the book allows those combinations). If any leg is a push, typically the parlay just drops that leg (e.g., a 3-team becomes a 2-team). One strategy some use is correlated parlays, but those are usually not allowed (see Correlated Parlay entry). There are also round robins (pre-set sequences of parlays) for the truly parlay-obsessed. But the main thing: parlays = multiple bets rolled into one, for a bigger payout. Every bettor at some point dreams of hitting that epic 10-team parlay for thousands. Just remember to keep them fun and maybe not tie your whole bankroll to them – a straight bet may be steadier, but parlays, when they hit, are oh-so sweet.

Pick ’Em (PK) – A Pick ’Em (often shown as PK or Pick) means there is no favorite or underdog in the point spread – the teams are considered essentially even. In a pick’em game, the point spread is 0 for both sides. You’re simply picking the winner of the game (just like a moneyline, but typically at reduced juice). If you see a line like “Team A PK (-110) / Team B PK (-110),” it means whichever team wins outright, that side of the bet wins. Any tie would result in a push (but in sports like football or basketball, a tie after overtime is extremely rare, except maybe soccer – which handles PK differently in 3-way betting). You might also hear people say “That game’s a pick” to indicate it’s a toss-up. In terms of betting, if you bet a pick’em, you don’t have any points to work with – it’s win or bust. Often games start with a small spread like -1 and get bet to PK, or vice versa. It’s the book saying “We can’t decide a favorite, so just choose who you think wins.” On the odds board, PK might be listed or sometimes books just list both teams at -110 without a spread number. A moneyline equivalent for a true pick’em might be -110/-110 or sometimes -105/-115, depending on where the action is. It’s one of the simplest bets because it removes the sometimes confusing factor of spreads. Do note: if you ever see PK +0 or something weird, it still means pick’em (some sites display it oddly). But yeah, PK – just pick the winner, no points involved.

Pleaser – A pleaser is sort of the evil twin of a teaser. While a teaser gives you points in your favor on multiple games (making it easier to win each leg), a pleaser takes points away (making each leg harder to win) in exchange for a much bigger payout. It’s a very high-risk, high-reward bet type. For example, in a standard 6-point teaser you might turn a -3 favorite into +3. In a pleaser, you’d do the opposite: turn that -3 into -9. Essentially, you’re “selling” points back to the book. Because you’re making it tougher, pleasers can pay out like parlays on steroids. A 2-team pleaser might pay 6-to-1 or more (whereas a 2-team teaser might only pay like 10/11, basically even money). Pleasers typically are offered as 6-point pleasers (especially in football). So if you pleaser two underdogs at +3, each would move to -3 (you’ve given up 6 points on each). You need both now-favorites to cover those new spreads. Not easy! If they both would have covered the original spreads, you’d have won anyway – but you’re betting that your picks will win even more convincingly than the original line. Why do a pleaser? Well, if you strongly believe both favorites will crush the spread, a pleaser cashes in on that conviction with a bigger payday. But as you can imagine, pleasers hit rarely. They’re mostly for the adventurous bettor. Some books don’t even offer them due to low demand. But you might see something like “6-point pleaser payouts: 2-team 6/1, 3-team 20/1” etc. It’s a parlay that’s even harder to win but pays accordingly. So yeah, pleaser: you’re “pleasing” the book by giving them an extra edge, but if fate smiles, you laugh all the way to the bank. Approach with caution – pleasers can be brutal on the bankroll if you don’t hit that narrow window needed.

Point Spread – The point spread is the handicap or margin of victory that bookmakers set to even out the matchup for betting purposes. It’s the number of points by which the favored team is expected to win (or conversely, the number the underdog can lose by and still “cover”). For example, if the Chiefs are -7 against the Broncos, the Chiefs are the favorite and must win by more than 7 points for a bet on them to cover the spread. The Broncos are the underdog at +7, and they cover if they win outright or lose by less than 7 points. If the Chiefs win by exactly 7, that’s a push – everyone gets their money back. The spread is designed to generate equal action on both sides. It’s the great equalizer: instead of just picking winners, you’re picking who covers this adjusted “virtual” score. So you might hear, “Team A is a 3-point favorite,” meaning the spread is roughly -3 for Team A. Betting the favorite means you’re “laying” the points; betting the underdog means you’re “taking” the points. Spreads often include a hook (half-point) to avoid pushes, like -3.5, +6.5, etc. Common notation: Favorite is listed with a minus (e.g., Patriots -4.5), underdog with a plus (Jets +4.5). When you see just one number, assume that’s the favorite’s number and the other side is the opposite. Spreads can be for any scoring sport but are most common in football and basketball. Other sports use puck lines/run lines etc. The line can move – if lots of money comes on one side, the spread might shift from -7 to -8, for instance. Key numbers (like 3 and 7 in football) are critical in spreads. When you bet against the spread, or ATS, you’re concerned only with that line, not the actual winner of the game (a team can win the game but not cover the spread if they underperform expectations). Point spreads make betting more interesting and challenging, turning even a lopsided game into a thrilling bet. They also allow the sportsbook to balance bets, so they’re crucial in the betting world. If you’re just starting, remember: a minus means favored by that many points, and a plus means the underdog is getting those points. And if your team covers, you win – that’s the beauty of the spread.

Prop Bet – A prop bet (short for proposition bet) is a wager on something that is not directly tied to the final score or outcome of a game. Props can be about individual player performances, team stats, or any event within a game. Think of props as the fun side-bets beyond just who wins and by how much. Examples:
• Player Props: Will LeBron James score over/under 28.5 points? Will a certain running back rush for a touchdown? How many strikeouts will a pitcher have?
• Game Props: Which team will score first? Total field goals made by both teams? Will there be a defensive touchdown?
• Novelty Props: Often seen in big games like the Super Bowl – coin toss result, length of the national anthem, the color of Gatorade dumped on the coach, etc. (yes, those are real bets!).
Props can range from mainstream (like a star player’s stat line) to pretty obscure (first penalty of the game, time of the first goal, etc.). They’re a great way to bet if you have insight on a specific aspect. For instance, maybe you don’t know if Team A will cover the spread, but you strongly believe their QB will throw for over 300 yards – you can bet that with a prop. Sports like the NFL and NBA have tons of player props each game nowadays. One thing to note: props often have higher juice and lower betting limits than sides/totals, because they’re harder for books to perfectly price and more niche (also less liquidity). But they can be softer lines to beat if you do your homework. In casual conversation, props are just those “side bets.” People love them for entertainment, especially in big events – it gives something extra to root for (or against). Just remember, a prop doesn’t usually affect whether your main bet wins or loses – it’s separate. So you could lose your bet on a team but win a prop on their player, or vice versa. If you’re hearing “prop” on a broadcast, they might be referencing a cool stat bet or something like “the prop on Steph Curry threes is 4.5”. At BoydsBets, we often discuss popular props (like Super Bowl props). They’re the spice of the betting menu – not the main course, but they add a lot of flavor.

Puck Line – The puck line is the hockey equivalent of a point spread (named after the hockey puck). It is almost always -1.5 goals for the favorite and +1.5 for the underdog. Because hockey is a low-scoring sport, they use a fixed spread of 1.5 goals. If you take the favorite on the puck line (-1.5), they must win by 2 or more goals for your bet to cash. If you take the underdog on the puck line (+1.5), they can either win outright or lose by just 1 goal and you’d still win the bet. Puck line bets usually come with adjusted odds. For example, the favorite might be -1.5 (+150) and the dog +1.5 (-170). This means if you lay -1.5 goals, you could get a nice plus-money payout, whereas taking +1.5 might require you to pay more juice. Some bettors prefer the puck line to the moneyline when a favorite is heavily favored – instead of paying a big price on the moneyline, they’ll take -1.5 goals to get a better payout (but of course, then you need a multi-goal win). It’s similar to the run line in baseball (also usually 1.5). Puck lines add a bit of nuance: empty netters at the end can make or break a puck line cover, which is always a sweat in hockey betting. If a team is up 1 and the other pulls the goalie, that empty net goal can turn a 1-goal win into a 2-goal win (covering -1.5). Conversely, if the dog is +1.5 and only down one, you’re praying they don’t concede an empty netter. Puck line is a great way to get plus odds on a strong team or get a cushion on an underdog. Just know that roughly one-third of NHL games are decided by exactly one goal (or go to OT), so +1.5 is often a live side. Meanwhile, -1.5 bettors need that extra cushion. As noted in our puck line betting guide, it’s hockey’s spread bet with its own set of strategies and sweat factors.

Push – A push is essentially a tie in betting, where nobody wins or loses – your stake is returned. This happens when the final result lands exactly on the point spread or total, or if a moneyline bet ends in a draw (in sports where that’s possible and not accounted for). For example, if you bet Patriots -7 and they win by exactly 7, that’s a push – you get your money back. Or you take Under 48 and the game ends 27-21 (total 48) – push, no blood. Think of it as “no action” in terms of outcome, though we usually reserve “no action” for canceled bets; push is specifically a played-out tie. When you push a straight bet, you just get refunded. In a parlay, if one leg pushes, most books will drop that leg out and the parlay continues with reduced number of teams (e.g., a 4-leg parlay with one push becomes a 3-leg parlay). A push is not a win, but at least it’s not a loss. Bettors often lament a push if they came this close to winning (like “Ah, that field goal in garbage time made it a push instead of a win”). But sometimes a push can feel like a win if your bet was looking worse (e.g., you had -7 and they were trailing most of the game but rallied to win by 7 – you escaped with your money intact!). Key numbers in football (3, 7) frequently cause pushes when games land right on them (that’s why the hook matters). Some bettors will buy a half-point to avoid the possibility of a push on a key number (though you pay extra juice to do so). In any case, pushing is part of the game. Over a long season, you’ll likely have a few pushes. They simply don’t count in the W-L record; often you’ll see records listed with a third column for pushes (like 8-7-1 ATS). So, bottom line: a push means the bettor and the book break even on that bet, and you live to bet another day with the same bankroll you had before.

Quarter Bet – A quarter bet is a wager on the outcome of a specific quarter of a game, rather than the entire game. This is most common in basketball (NBA) and football (NFL) where games are naturally divided into quarters. For example, you might bet on the 1st Quarter spread: Lakers -2.5 in the first quarter, meaning you need the Lakers to be leading by 3 or more at the end of Q1. Or you could bet the 1st Quarter total: Over 10.5 points in the first quarter of an NFL game (maybe if you expect a fast start). Quarter bets essentially reset at the beginning of each quarter – you’re only concerned with scoring in that 12-minute (NBA) or 15-minute (NFL) segment. Sportsbooks will offer lines for each quarter much like they do for the full game or halftime, often posted either before the game starts or live as the game progresses. For instance, you could have lost your full-game bet but still win your 3rd quarter bet if your team made a run in that period. Many use quarter bets for specific strategies: maybe a team tends to start hot (so you bet them 1Q), or a heavy favorite might take it easy later (so you fade them 4Q). One thing to note: if you bet quarters, keep track of if overtime counts toward 4th quarter bets (it usually doesn’t – OT is separate and usually not included in 4Q totals). Quarter betting can also be a way to hedge or double down during the game. If your team looked awful in the first half, maybe you bet them to win the 3rd quarter expecting a bounce-back. Like any segmented betting (quarters, halves, periods), you’re zooming in on a portion of the game. It can make even a blowout game interesting if you have a bet riding on “who wins the 4th quarter” even if the overall outcome is settled. So next time you’re pretty sure a team will come out firing early, or maybe collapse late, quarter bets are a nifty tool to act on that hunch.

Reverse Line Movement (RLM) – Reverse line movement is when the betting line moves in the opposite direction of what the public betting percentages would suggest. In plain language: if a majority of bets are on Team A, you’d normally expect Team A to become a bigger favorite (line moves in their favor). But if instead the line moves toward Team B, that’s reverse line movement. This often indicates that larger, sharper (professional) bets are coming in on Team B, outweighing the smaller public bets on Team A. RLM is taken by many as a sign of “sharp money.” For example, say the Patriots open -7 vs. the Jets. 75% of bets (tickets) are on the Patriots, yet the line drops to -6. That’s reverse line movement – despite heavy public on Pats, the line moved toward the Jets (making Pats cheaper). Likely some big respected bettors hit the Jets, causing the books to adjust. Bettors who like to “fade the public” will look for RLM as confirmation that the sharp side is opposite the public. Some will blindly follow RLM, thinking it’s the smart move (e.g., “the line’s dropping even though the public’s on the Pats, I’ll take the Jets”). It’s not foolproof, but it’s an interesting market indicator. Sportsbooks nowadays even show % of bets vs % of money – sometimes you’ll see like 30% of bets on Jets but 60% of money, implying bigger wagers are on Jets (hence line moves that way). RLM is often discussed on betting forums. It’s reading the market steam: lines can move for reasons beyond just the number of bets, it’s the weight of money and respect for certain bettors. If you can identify RLM, you might infer where the “smart money” went. However, always use context – injuries, weather, etc. can also cause weird movement. But pure RLM (nothing changed except the line despite the public being heavy on one side) is a hint that sharps disagreed with the public. Following it is a strategy some use; others find their own edge. But now you’ll know why sometimes a line “doesn’t make sense” with what everyone’s betting – that’s reverse line movement in action.

Return on Investment (ROI) – In betting, Return on Investment (ROI) measures how efficient or profitable your betting is, expressed as a percentage of your original investment (bankroll or total amount wagered). It’s a common way to track performance, especially for those who take a long-term, portfolio approach to betting. The formula is straightforward: ROI = (Net Profit / Total Amount Wagered) * 100%. For example, if over a season you wagered a total of $10,000 and ended up with a profit of $500, your ROI = $500 / $10,000 * 100% = 5%. That means for every dollar bet, you made an average of 5 cents profit. ROI is a better metric than just total profit in many cases because it accounts for scale. Making a $1,000 profit is huge if you only bet $2,000 total (that’d be 50% ROI – amazing), but making a $1,000 profit on $50,000 wagered is only 2% ROI – still positive, but modest. Bettors (and investors in general) chase ROI as a sign of efficiency. A good sports bettor might be happy with 5-10% ROI over a large sample. Even a 1-2% ROI can be significant if you churn volume (just like stock market returns). Negative ROI means you lost money relative to what you put in (e.g., -10% ROI means you lost 10 cents for every dollar bet). Calculating your ROI can help you gauge performance and compare it to other uses of your money or other bettors’ records. For instance, if someone says they went 100-90 betting mostly -110, that’s a +2.2 units (if 1 unit each) which is an ROI of about +1% on 190 units bet. Not thrilling, but positive. Another might go 50-70 on more underdogs and still be profitable with a higher ROI. ROI also allows comparison across different bet sizes. A small bettor and a big bettor can both have 10% ROI, which shows they’re equally effective relative to their stakes. As you get serious about betting, tracking ROI (and not just wins/losses) is key to understanding how well you’re doing. If you find your ROI is negative over a large sample, time to adjust your strategy. If it’s positive, congrats – you’re beating the game! Now, how to boost it… that’s the eternal challenge.

Round Robin – A Round Robin is a way to bet multiple parlays at once, covering all combinations of a set of picks. Think of it as a parlay sampler platter. You choose a set of teams (say 3, 4, 5, etc.) and then decide how you want to combo them (in parlays of 2s, 3s, etc.). The round robin then creates all possible parlay combinations of that size from your set. For example, say you have 3 teams: A, B, and C. A round robin by 2’s would create these parlays: AB, AC, BC (three 2-team parlays). If each parlay is, say, $10, you’d risk $30 total. If two of the teams win and one loses, one of those parlays will still cash (because whichever two that won form a winning parlay). A round robin by 3’s with 3 teams would just be one parlay ABC (which is the same as a regular 3-team parlay). Now, imagine you have 4 teams: A, B, C, D. A round robin of 2’s (two-team parlays) would include AB, AC, AD, BC, BD, CD – that’s 6 combos. A round robin of 3’s would include ABC, ABD, ACD, BCD – 4 combos of 3-team parlays. You could even do “2’s and 3’s” which does all the 2-team and 3-team combos. The idea of a round-robin is to spread out parlays so that you don’t need all picks to hit to get some return. It’s kind of like boxing bets in horse racing. It guarantees coverage of all combinations. It’s useful if you like, say, 5 underdogs and suspect maybe 3 or 4 will win but not sure which – a round robin can still profit if a subset hits. Do note: round robins can get expensive because you’re placing many parlays. Also, if you go, for example, 4-1 on a 5-team round robin of 2’s, you’ll win several parlays but still might not cover the losing ones depending on the odds. It can be complex to track. Many books have a round-robin feature where you just input teams and it lists all combo bets. It’s more of an advanced technique for fun or specific strategies. Some love it to hedge parlays; others avoid it as “parlaying on training wheels.” But at least now when you hear “I did a round robin,” you know they bet every combination of parlays from their picks. It’s basically many parlays in one structured bet.

Run Line – The run line in baseball is equivalent to a point spread: it’s almost always 1.5 runs. The favorite is -1.5 (must win by 2 or more runs), and the underdog is +1.5 (can win or lose by 1 and still cover). The run line is a way to get better odds on a favorite or more cushion on an underdog, similar to the hockey puck line. Because baseball games are often decided by one run, that 1.5 can be tantalizing. Example: Dodgers might be -250 on the moneyline (very expensive), but on the run line Dodgers -1.5 might be -120 – much more reasonable. Of course, now they have to win by 2+. Conversely, an underdog might be +200 moneyline, but +1.5 runs could be -110 or -120 – you sacrifice payout for the safety net of that extra run. Betting the run line is popular if you feel a favorite is likely to win comfortably, or if you think an underdog will at least keep it close. Be aware: many baseball games do end by exactly one run (especially if the losing team doesn’t bat the 9th when the home team is ahead by one), so taking -1.5 carries risk – a win by one is a loss for that bet. And taking +1.5 often means you might win the bet even if the team loses the game, which is a nice feeling. Run lines also bring strategy with closers and bullpens – a team might be up by 2 and only win by 1 after a harmless 9th inning run, etc. When reading odds, a run line might be listed like “Yankees -1.5 (+130), Orioles +1.5 (-150)”. That means the Yankees to win by 2+ pays +130, Orioles to lose by 1 or win pays -150. Some books allow alternative run lines (like -2.5 for a huge payout or +2.5 for a heavy price), but the standard is 1.5. You’ll also see the run line used as a verb: “The Braves run-lined the Mets” meaning they won by 2+ covering the run line. Or “I’ll take the Red Sox on the run line.” It adds an extra layer to baseball betting, bridging the gap between a high-juice moneyline and the lottery of parlays. If you’re betting MLB, knowing when to use the run line can be key to managing risk/reward. Like everything, there’s an art to it – some cappers almost exclusively play run lines. As with the puck line in hockey, understand the nuances and typical scoring margins to use it smartly.

Sharp (Wiseguy) – A sharp (or wiseguy) is a knowledgeable, experienced bettor – essentially a “professional” or someone widely respected for beating the sportsbooks. Sharps are the opposite of squares (casual bettors or “public” money). When you hear “sharp money” it implies bets made by those in the know, often moving lines. Sharps tend to get the best numbers (bet early at the opener or time news right), have disciplined bankroll management, and often find value where public bettors might not. They’re analytical, sometimes even syndicates using algorithms or deep research. If a line moves unexpectedly against the public, people say “sharp action must be on the other side.” Sportsbooks often consider what sharps are doing – they might move a line quickly if a known sharp places a big bet. Sharps might also bet larger amounts (though not always – some just have high win rates). A wiseguy is basically an old-school term for the same thing: someone with insider-like savvy in betting. You’ll see talk like “the wiseguys are on Team X,” meaning the professional bettors are backing that side. It’s a bit of a nebulous group; there’s no official sharp club, but bookmakers can tell by betting patterns and accounts which action is “sharp.” If you’re consistently beating closing lines and winning, you might be labeled a sharp by the book (which sometimes leads to being limited, unfortunately). Sharp vs. Square doesn’t mean who wins a single bet – it’s about the long-term approach and results. Many sharps often take contrarian positions, go against hype, exploit obscure markets, etc. Not every sharp bet wins, of course, but over time sharps aim to make a profit. In a sentence: “The line dropped from -7 to -6 despite 80% of bets on the favorite – looks like sharp bettors hit the underdog.” That’s the influence of sharps. Wiseguy is used similarly: “Wiseguy action moved that total up two points.” If you aspire to be sharp, it’s about consistent smart decisions, not gut feeling like many squares. It’s almost a compliment to be called a sharp (though some might use it sarcastically if someone thinks they’re smarter than they are). Bottom line: sharps/wiseguys are the serious bettors who treat this like an investment and often have the respect (or attention) of the sportsbooks.

Square (Public) – A square is a casual or recreational bettor – the kind who typically bets for fun, often on popular teams, and might not dig too deep into numbers or strategy. “Public” money or “Joe Public” often refers to the collective wagers of these casual bettors. Squares tend to bet favorites, overs, and follow trends or hype. They might be swayed by recent performance (e.g., “Team A looked great last week, I’m hammering them”) and media narratives. Sportsbooks know common square tendencies and often shade lines accordingly (like a popular team’s line might be a bit inflated expecting public support). When we say “the public is all over Team X,” we mean the majority of average Joes are betting on that side – often making it a “public favorite.” Being square isn’t an insult per se; it’s just a descriptor for the majority of bettors who aren’t doing this professionally. Most of us start as squares, betting on our favorite team or following TV pundits. The opposite of square is sharp – the more seasoned, analytical bettors. There’s even the term “square sharp” for someone who thinks they’re sharp but still makes square picks (we all can fall into that!). If a line seems too good to be true to a seasoned bettor, it’s often called a “square play” because it’s baiting the public. For instance, if a highly ranked team is only -3 against an unranked one, squares will jump on the -3 thinking it’s easy, while sharps might sniff out a trap and go the other way. Sportsbooks often profit off square money, because the public can be predictable (like heavy on favorites in primetime games, etc.). You might hear after a wild upset, “The public got killed on that game” meaning most casual bettors lost because the obvious side failed. As a strategy, some sharps choose to fade the public – do the opposite of what the majority of squares are doing (especially if accompanied by reverse line movement, etc.). So, square is not a personal dig; it’s more of a mindset. If you’re betting without much research and mostly on instinct or bias, that’s square behavior. And honestly, squares make up the lifeblood of sports betting, providing liquidity and (to the sharps) exploitable angles. At BoydsBets, we try to help squares become a bit sharper by educating on why blindly taking the popular pick isn’t always best. If you find yourself always on the same side as 90% of the betting public, well, you might be a square – but acknowledging that is the first step to evolving your betting game!

Steam – Steam (or a steam move) refers to a sudden, uniform line movement across the betting market, often caused by a wave of money coming in (usually from sharp bettors or betting syndicates). Imagine multiple sportsbooks’ odds all shifting quickly in the same direction – it’s like the odds board “steaming” or heating up. For example, within minutes, you see Team A go from -3 to -5 across many books – that’s a steam move. It often indicates that a big betting group hammered Team A at -3 (maybe at several books nearly simultaneously), forcing books to adjust fast and significantly. The term comes from the idea of something moving with great force (like a steam engine). Bettors who chase steam will try to jump on a moving line, hoping to still catch a good number before it moves further. But beware: some steam moves are genuine (sharp action reacting to info or opinion), while others could be head fakes (where syndicates bet one side to move the line then hammer the other side at a better number, though this is a more advanced strategy and not super common in widely monitored markets). You’ll hear in advice, “Don’t chase steam,” meaning if you see a line moving because sharps bet it, you’re often too late – the value is probably gone. Some very tuned-in bettors or those with alerts try to follow steam in real-time, essentially piggybacking on what the big guys are doing (like “the screen is lighting up on the over, time to hit it”). This is called top-down handicapping. Sportsbooks hate being caught by steam and will copy moves or freeze lines to catch up. Steam can be triggered by news (QB announced out, etc.) or just the weight of respected money. If you’re watching odds and suddenly everything shifts, you witnessed a steam move. There’s also a concept of steam chasers – bettors who try to get down at slower-moving books the instant they see a steam move at another book, essentially arbitraging the lag. But books know about this and it can get you limited if all you do is beat them to the punch on moves. In casual conversation: “The under was 44, then there was steam and it’s down to 42 now”. That means a lot of sharp money hit the under causing the line to drop. Steam is essentially the collective effect of big money bets causing a ripple (or rather, a tsunami) through the odds. As a bettor, recognizing a steam move might tell you, “Hmm, some folks really liked that side at the old price.” Whether you follow or not depends on if there’s still perceived value or if you agree with the reasoning. But at minimum, steam is a sign something’s up.

Syndicate – In sports betting, a syndicate is a group of bettors who pool resources, information, and bankroll to bet in a coordinated way, often moving large sums of money. Think of it like an investment group or team of sharps working together. Syndicates can be formal or informal. Some are like companies with analysts, data scientists, bettors, and bankroll managers all working to identify value and hammer lines. The famous ones (often not publicly known by name) might employ people worldwide betting into various books to get down huge amounts without drawing too much attention at any single book. For example, a syndicate might decide Game X over 47 is a great bet. They’ll have members (or accounts) hit multiple sportsbooks around the same time – $20k here, $10k there, etc., to get as much as possible at 47 before it steams to, say, 49. These groups are often responsible for steam moves. Because they act in unison, they can essentially brute force lines to move. Syndicates also share info – one guy might specialize in NBA totals, another in college football, etc., and together they cover more ground. The idea is to combine expertise and bankroll to maximize profits. We sometimes call them “betting syndicates” or “cartels” playfully. They’re the high end of sharp action. If you’re ever wondering “Who on earth bet Jaguars +6 so hard it’s +4 now?” – likely a syndicate or big sharp. Many syndicates keep a low profile; they might use runners or lots of accounts to avoid detection since books will limit or ban if they identify a syndicate’s accounts. Some legendary ones have existed, like Billy Walters’ group in the past (Walters was known to orchestrate syndicate betting, using “runners” to disguise his action). On the flip side, you have casual syndicates which are just buddies pooling money for a common bet, but usually, the term implies serious business. In conversation: “That line didn’t move because of public money, it was likely a syndicate play.” This means a big group with inside info or strong confidence hammered it. For an average bettor, syndicates might seem distant, but they influence the lines you bet into. Essentially, they’re one reason lines get sharp quickly – a syndicate’s collective brain and bankroll can sniff out and pounce on soft lines. In summary, a syndicate is teamwork in betting – sometimes secretive, sometimes sophisticated, and definitely influential if large enough. They play chess while many of us play checkers.

Teaser – A teaser is a special type of parlay bet where you can adjust (tease) the point spreads or totals in your favor, in exchange for a lower payout. Teasers are most common in football and basketball. The most standard teaser in the NFL is the 6-point teaser: you can move the spread by 6 points for each team you include. For example, if you like two favorites at -8 and -7, a 6-point teaser would adjust them to -2 and -1. Both teased lines have to cover for the teaser to win (just like a parlay). Because you’re getting an advantage on each line, the payout is smaller than a normal parlay; a typical 2-team 6-point teaser might pay around -120 (whereas a normal 2-team parlay pays ~2.6 to 1). Common teaser sizes are 6, 6.5, and 7 points in football (with payouts adjusting accordingly). You can also tease underdogs upward, e.g., a +2 becomes +8 in a 6-point teaser. People often tease through key numbers (like teasing a +2 up to +8 crosses 3 and 7, which is desirable). In basketball, teasers might be 4 points, etc., but they’re less popular than in football. There are also special teasers like sweetheart teasers (e.g., 10 points but require 3+ teams). Teasers are popular because they feel safer – you’re essentially buying points. But beware: the teaser only pays if all legs cover the teased line. A lot of beginner bettors tease heavy favorites down just to need them to win outright, which can work but the payout might not justify the risk if not done carefully. The most famous strategy is Wong Teasers (named after researcher Stanford Wong) which teased favorites of -7.5 to -8.5 down and underdogs of +1.5 to +2.5 up (teasing through 3 and 7) – historically those had high success rates. Some books now adjust odds to make those less profitable. When you place a teaser, you usually select the teaser type (e.g., 6-pt, 7-pt) and the teams, then the book shows the final odds. If any leg pushes (ties the teased spread), most books will drop that leg out (so a 3-team teaser becomes a 2-team, etc., similar to parlays; some consider the whole teaser a push if one leg pushes – check rules). The term “tease” comes from the idea that these bets look enticing (“teasing” you) because of the adjusted lines, but the payout is also teased down. In conversation: “I’ll tease the Chiefs from -8 to -2 with the Packers from -3 to +3.” That means a 6-point teaser on Chiefs -2 & Packers +3. It’s a fun tool, and when used wisely, teasers can be profitable (especially in the NFL with those Wong legs). But if you just tease random teams for the heck of it, the house edge can be high. Use the force (of points) wisely, young padawan.

Ticket – In betting lingo, a ticket refers to a recorded wager. In a physical sportsbook, your “ticket” is literally the betting slip they print out when you place a bet. It details your bet – the team, odds, amount risked, potential payout, a unique ticket number, etc. To cash a winning bet, you traditionally present your ticket to the cashier. If you lose it or it’s damaged, that’s a problem (though sometimes they can lookup via ID or ticket number, but it’s a hassle). In the broader sense, even in online betting, people refer to their wagers as tickets. Like, “I have a ticket on the Giants to win the NL East.” You might also hear “burn that ticket” when a bet is as good as lost. In a data sense, “ticket count” refers to the number of bets placed on a side (as opposed to money). For instance, “80% of tickets are on the Cowboys” means 80% of individual bets (regardless of size) are on that side. Sometimes you’ll also see slang like “easy ticket” meaning an easy winner, or “losing ticket” obviously for a loser. In horse racing or parlays, a “one ticket hit” could mean a single betting slip that hit a big multi-leg bet. Essentially, “ticket” is synonymous with “bet slip” or just “bet.” Back in the day (and still now in casinos) you clutch that paper ticket. It’s your proof of the wager. If you bet $100 on an underdog at 5-to-1 and they win, your ticket might say “PAID $600” when cashed out. It’s satisfying. If you see photos on social media of bets, often it’s a picture of a physical ticket showing the bet details. So, whether digital or paper, your bet = your ticket. Always check your ticket after placing a bet to ensure it’s correct (the wrong team or amount can happen due to miscommunication). And if in person, guard that winning ticket until you cash it – it’s literally as good as cash. In conversation: “Don’t tear up your ticket yet, crazy comebacks happen!” (Meaning don’t assume your bet is lost and throw away the ticket prematurely). Or “I’ve got a $50 ticket on the under 210 points.” It’s just the bet slip reference.

Tout – A tout is someone who sells or gives away betting picks, often claiming expertise or inside knowledge. Essentially, a tout is a tipster or handicapper who provides recommendations on which side to bet. The term can have a negative connotation because the industry of selling picks has had its share of shady characters promising “locks of the year” or unrealistic win rates. But not all touts are scammers – some are legitimate handicappers selling a product. If someone says “he’s a tout,” it means he’s in the business of giving out picks, usually for a fee. Touts might operate via websites, social media, or even old-school phone hotlines. They often have marketing like “Get today’s 5-star guaranteed winners for $X.” They tout (promote) their records, hence the term. A good tout is transparent about results and doesn’t oversell; a bad tout might fudge records or use high-pressure sales. Within bettor circles, being called a “tout” can be a jab, implying you’re more about marketing picks than actually beating the book. There are also free touts who just want followers or to monetize indirectly. When you see “tout service,” it’s a pick-selling service. Some bettors pay for picks to save time or if they trust someone’s expertise; others prefer doing their own work. Historically, Vegas had plenty of touts; even in the movie “Two for the Money,” Al Pacino plays a flamboyant tout. Also note: “to tout” can be a verb meaning to promote/advertise (like “he’s touting a 70% win rate, but I’m skeptical”). And in British usage, “to tout” can mean to scalp tickets or solicit, but that’s a different context. In our US betting context, a tout is a pick advisor. Our site BoydsBets provides free picks and information, but hopefully only the reputable kind! If you’re new: be wary of any tout promising unreal success (nobody wins all the time). But also, don’t be surprised to see folks charging for their analysis – that’s the tout business. At the end of the day, the best touts provide value by doing analysis you might not have time for. The worst simply take advantage of FOMO. So yes, “tout” is part of the betting ecosystem jargon – now you know when someone says “beware of touts,” they mean approach pick sellers with caution and research.

Total – Total is another term for the over/under on a game. It represents the expected combined score of both teams, and you can bet whether the actual combined score will be over or under that number. For example, if the total in an NBA game is 222.5, you’re betting on the sum of both teams’ points. “Over 222.5” wins if 223 or more points are scored; “Under 222.5” wins if 222 or fewer are scored. The term “total” can be used interchangeably with “over/under.” You might ask, “What’s the total in the Giants game?” meaning what’s the line set for combined runs (in baseball) or points (in football). Just like with spreads, totals can vary greatly by sport: an MLB total might be 8.5 runs, an NHL total of 5.5 goals, a college basketball total of 145 points, etc. Totals can also apply to one team (team total) or a half/period. But generally, standing alone, “the total” means the game’s combined points line. Betting the total is cheering for offense (if you’re on the over) or defense/slow play (if under). Some bettors specialize in totals, finding edges in pace, weather, or matchups that aren’t fully captured by the line. Weather particularly affects football and baseball totals (wind blowing in can lower a baseball total, for instance). A fun aspect: you can win a totals bet well before a game ends (if the over hits in the 3rd quarter already) or sweat an under until the final whistle. Note that overtime counts towards totals (except in some specific prop contexts). So an overtime can push an over bet that was losing into a win (or spoil a good under). Books sometimes call totals “points” in shorthand, like “Points: 47.5” on a display, which is the total. If a total hits exactly the number (like you bet under 48 and exactly 48 points are scored), that’s a push (no action), unless the total had a half-point. When someone says “the total went over” or “game went over,” it means combined score exceeded the line. If it was a defensive game, “the total stayed under.” In summary, total = combined score line. So next time you see O/U, remember O/U is just short for “over or under the total.” Simple concept, endless sweat possibilities!

Underdog (Dog) – The underdog is the team or competitor expected to lose, indicated by plus (+) odds or a plus point spread. If a team is +7 in football, they’re the underdog getting 7 points. If a boxer is +250, he’s the underdog and a $100 bet would win you $250 if he upsets. People often love rooting for underdogs – in betting, backing them can yield higher payouts since they’re not “supposed” to win. You might hear “live dog” to describe an underdog that has a real shot to win outright. A small underdog might be termed a “short dog” (like +3 or +120) whereas a big one might be a “big dog” (like +300 or +14). When you bet an underdog on the spread, you have the cushion of those points – if they lose by less than the spread (or win outright), you cover. If you bet an underdog moneyline, you typically get plus-money (profit more than you risk). The public sometimes loves favorites, so underdogs can be where contrarians find value. There’s also the classic phrase “betting on the dog” meaning taking the underdog. Sports history is full of famous underdog wins (Miracle on Ice, Buster Douglas over Tyson, Leicester City winning Premier League at 5000-1!). In point spread terms, an underdog might also be called the “+ side” or just “the dog.” If no team is favored (PK), technically neither is a dog. One strategy bettors use is to find undervalued underdogs that have a better chance than the odds imply (thus positive expected value). Another nuance: sometimes a team might be an underdog in public perception but a favorite on the odds (rare but happens in coin-flip games where one side is more popular). But by definition, underdog means the side with plus odds or the one receiving points. Embrace the dog mentality – betting underdogs can be fun because every upset, you feel like you beat the odds. And as any experienced bettor will tell you, underdogs win more often than the general public thinks. It’s not upset after upset, but it’s also not as predictable as favorites always winning. That’s why moneyline underdog bets can be profitable if you pick your spots. Also slang: “Dog money” means bets coming in on the underdog. And if someone says “Who let the dogs out?” after a bunch of upsets, well, now you get the pun. Keep an eye on those underdogs – sometimes it’s their day to bite.

Unit – A unit is a standardized amount of money that a bettor uses to measure the size of their bets, relative to their bankroll. It’s a way to talk about bets without revealing or focusing on the actual dollar amounts. Typically, one “unit” is a small percentage of your bankroll, often around 1-5%. For many serious bettors, 1 unit might be 1% of their bankroll. So if you have a $1,000 bankroll, 1 unit could be $10. Rather than saying “I bet $50 on Team A,” a bettor might say “I bet 5 units on Team A,” if their unit is $10. This concept helps compare performance between bettors of different bankroll sizes. If one person bets $100 and another bets $1,000, their outcomes in dollars differ, but if both bet 1 unit, they’re taking an equal proportional risk. When tracking your bets, you often track units won or lost. For example, “I’m up +7.5 units this season” – meaning if your unit is $10, you’re up $75; if your unit is $100, you’re up $750. It gives a clear sense of success relative to bet size. It’s also helpful in following others’ picks; if a capper says “2 unit play on the Lakers,” you adapt that to your bankroll (e.g., if your unit is $20, that’s a $40 bet). Bankroll management guidelines often say things like “Risk 1-2 units per play.” Using units prevents one big bet from skewing records – someone who goes 1-4 but the one win was 10 units might still be net positive, which units will reflect. Without units, you might think 1-4 is bad, but if that one win was huge, they’re actually up money. Typically, bettors might have varying unit sizes for confidence levels. For instance: 1 unit = regular bet, 2 units = stronger play, 0.5 unit = small lean, etc. It’s all relative and personal. The key is consistency in your own usage. One caution: if you find yourself talking “units” but constantly changing what a unit is for you, that defeats the purpose. So define a unit (say $10) and stick to calling things in those terms. It brings discipline and clarity. In sum, units are the betting community’s way to level the playing field in discussion and ensure we talk in terms of proportional risk/reward. So when we say “only risk 1-2% of bankroll per bet,” that’s 1-2 units typically. Keep your units in check, and your bankroll will thank you!

Value – In betting, value refers to the relationship between the odds and the actual probability of an outcome. A bet is said to have value if the probability of the event happening is higher than what the odds imply. Finding value is the core of sharp betting strategy – you’re hunting for mispriced odds. For example, if you think a team has a 50% chance to win, and the odds are +120 (which implies about a 45% chance), that’s a value bet because you believe the true chance is higher than the odds reflect. Over time, betting where you have value (a positive expected value, EV) is how you profit. A lot of casual bettors focus on who they think will win, whereas value bettors focus on whether the odds are good relative to that chance. You might hear “Team X is likely to lose, but there’s value on them at +300” meaning, maybe they only win 1 out of 4 times, but +300 (which is 25% implied) might be a smidge too high, so mathematically it’s a worthwhile gamble. Conversely, a team might be very likely to win but have no value because the odds are too steep. For instance, you might think a favorite is 90% likely to win, but if they’re priced at -1000 (90% implied), there’s no edge – that’s fair odds. If they were -800 (which implies 88%), maybe there’s a slight value since you think 90%. Talking value also helps remove emotions – you might hate a team, but if the odds are in your favor, a value bettor will play it. It’s about numbers, not loyalties. People might say “I see value on the underdog moneyline” meaning they think that the underdog has a better chance than the payout suggests. Or “the line has no value” meaning it’s spot on or too costly. Line value can also refer to beating the closing line (like you got a good number). Always remember: just because a bet has value doesn’t guarantee it wins; it means if you make many such bets, you’re likely to come out ahead long-term. It’s akin to getting a good price repeatedly. Value is often subjective – two bettors might disagree on a team’s true probability. That’s what makes a market. But generally, chasing value is what sharps do. If someone only talks about win-loss and not odds, they might miss value. For us, saying “That’s a value play” is like saying “I’m taking it because the odds make it worth it, even if it’s not a sure thing.” In summary, value = the golden word in betting. Find it, bet it, and over time, profit.

Vigorish (Vig) – Vigorish, commonly called vig or sometimes juice, is the commission or fee the sportsbook charges for taking a bet. It’s basically how the book makes money. On a standard -110 bet, that -110 contains the vig. If two sides are -110 each, the book ensures that if action is balanced, they’ll collect roughly 10% on the losing bets. For example: you bet $110 to win $100, someone else bets $110 the other way. Total $220 in bets. The winner gets $210 back (their $110 + $100 win). The book keeps $10 – that’s the vig. No matter the outcome, they profited $10 on the $220 handled, which is about 4.5%. The vig is why even a coin flip (50/50 game) isn’t paid at even money, but rather around -110/-110. Some places offer reduced vig (-105 lines) which is 5% juice instead of ~9%. When people say “no vig line” they mean the true odds with no commission. For example, if a moneyline is -150/+130, the gap between them is the vig (no-vig fair odds might be around -140/+140 if you remove juice). Bettors always try to minimize paying vig, because it eats into your winnings. A 52.4% win rate at -110 is breakeven due to vig. Without vig, 50% would break even. Vig can vary: moneylines for games might be 20 cent lines (-110/+110), 10 cent lines in baseball (-110/-110 is no vig scenario in theory, but usually, it’s more like -115/-105, etc.), etc. If you request a large bet, a book might charge extra vig (like they’ll take the bet at -120 instead of -110). When you see “risk $11 to win $10,” that $1 difference is vig. There’s also usage like “the book is taking a lot of vig on that prop” meaning maybe the odds are heavily shaded. For instance, -120 on both sides is a high vig scenario. In casual speak, one might ask “What’s the vig?” meaning what commission or what are the odds? It’s a concept borrowed from loan sharks too (vig on a loan). In our world, just know vig = the price of doing business with the book. If you consistently beat the vig by finding good lines or winning > 52.4% on -110, you profit. If not, the vig slowly drains you. And if you hear “de-vig” or “no-vig odds,” that means odds with the juice removed (used to compare true probabilities). So yeah, vigorish is the house’s cut. They deserve something for facilitating our bets, but of course, as bettors, our goal is to pay as little vig as possible by shopping around or picking spots. Always account for the vig when calculating the expected value. In sum: vig = book’s commission. Love it or hate it (mostly hate it as a bettor), it’s always there in the odds.

What are Common Sports Betting Terms You Should Know?

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What are Common Sports Betting Terms You Should Know?

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