Betting Glossary

Your A-Z reference for the most common terms in sports betting. Use this page to quickly look up any word or phrase you don't recognize.

A
Action
Having a bet of any kind on a game.
American Odds
The most common odds format in the US, displayed with a plus (+) for underdogs and a minus (-) for favorites (e.g., -110, +150).
Arbitrage
Betting on all possible outcomes of an event across different sportsbooks to guarantee a profit, regardless of the result.
B
Bankroll
The total amount of money set aside specifically for betting.
Book / Sportsbook
An establishment that accepts bets on sporting events.
Buying Points
Paying an additional fee to move a point spread or total in your favor.
C
Chalk
The team or player that is the favorite to win.
Cover
Winning a bet against the point spread. For example, if a -7 favorite wins by 8 or more points, they have "covered the spread."
F
Favorite
The team expected to win, indicated by a minus sign (-) in American odds.
H
Hedge
Placing a bet on the opposite side of your original bet to guarantee a profit or minimize a potential loss.
J
Juice / Vig
The commission a sportsbook charges on a bet. It's the reason odds are typically -110 on both sides of a spread.
L
Limit
The maximum amount a sportsbook will allow you to bet on a single event.
Line
The current odds or point spread for a game.
M
Moneyline
A straightforward bet on which team will win the game outright, with no point spread involved.
O
Over/Under (Total)
A bet on whether the combined total score of both teams will be over or under a number set by the sportsbook.
P
Parlay
A single bet that combines two or more individual bets. All bets in the parlay must win for the parlay to pay out.
Prop Bet (Proposition Bet)
A bet on a specific event or player performance within a game that doesn't necessarily relate to the final outcome (e.g., "Player X to score over 20.5 points").
Push
When a bet is a tie and the sportsbook refunds your original stake. For example, if the spread is -7 and the favorite wins by exactly 7 points.
S
Spread (Point Spread)
A bet on the margin of victory. A favorite must win by more than the spread, while an underdog can win outright or lose by less than the spread.
U
Underdog
The team expected to lose, indicated by a plus sign (+) in American odds.
Unit
A standard percentage of your bankroll used for betting, typically 1%.

Don't See a Term?

Sports betting terminology is constantly evolving. If you encounter a term that's not in this glossary, feel free to look it up or ask other SpreadMasters in the community. Understanding the language is the first step to mastering the game.