Sports Betting Glossary | Odds & Betting Terms A–Z

A

Action: A live bet—some books grade “action” on MLB even if pitchers change (check rules).

Against the Spread (ATS): Performance relative to the point spread; “ATS record” tracks cover results.

Alternate Line: A custom spread/total at a different price.

B

Bankroll: Funds set aside for betting. See Bankroll Management.

Beat the Closing Number (BTCN): Placing a bet at a better number/price than the market close; a long-term skill indicator. See CLV.

Bet Slip: The ticket you confirm with stake and price.

Buy Points: Paying extra vigorish to move a spread/total to a better number.

C

Chalk: The favorite.

Closing Line Value (CLV): Your number/price versus the market close. See CLV & Line Movement.

Cover: When a spread bet wins (favorite wins by more than the spread; underdog loses by less or wins outright).

Correlated Legs: Parlay legs whose outcomes influence each other (often priced via Same-Game Parlay rules).

D

Dog (Underdog): The less-favored side, shown with a “+” price on moneylines.

Draw No Bet (DNB): Soccer market: draw refunds stake; win/lose otherwise.

Dead Number: Spread value that games rarely land on (teasing through these has less value).

E

EV (Expected Value): Average profit/loss per bet if repeated many times; positive EV is the goal.

Even Money (+100): Risk equals potential win (before hold).

F

Futures: Long-term markets (e.g., championship winners, award races); prices move all season.

Flat Betting: Same unit size each wager. See Bankroll.

G

Game Total: The Over/Under for combined points/runs/goals.

Graders/House Rules: Book rules for voids, pitcher changes, overtime, etc. Always verify.

H

Handle (Money %): Share of dollars wagered on each side/market.

Hedge: Placing a new bet to reduce risk/exposure on an existing position.

Hold (Overround): Book’s margin in a market. See Vig & Juice.

I

Implied Probability: Probability implied by odds (e.g., -110 ≈ 52.38%).

In-Play (Live Betting): Wagering after the event starts; prices update with game state.

J

Juice (Vig): The fee embedded in odds; lowers bettor EV if not minimized. See Vig & Juice Explained.

K

Kelly Criterion: Staking method sizing bets by edge and price (often used fractionally). See Bankroll.

Key Number: Common landing margin (NFL 3, 7; CFB 3, 7, 10, 14). Half-points here are valuable.

L

Limit: The maximum stake or payout a book accepts on a market.

Line: The current price/number (spread, total, or moneyline).

Line Shopping: Comparing multiple books for the best number/price. See How to Shop Lines.

Live Line: In-game price that updates with events (scoring, injuries, time).

M

Moneyline (ML): Bet on the winner (no spread). See Moneyline vs Spread vs Totals.

Middle: Holding both sides at different numbers hoping the final lands in between for a double win.

Market Width: Gap between favorite and underdog prices; tighter width implies sharper/cheaper market.

N

Nap/Best Bet: Tipster shorthand for most confident pick (more common in horse racing/UK).

Number vs Price: Trade-off between spread/total number and attached price (vig). See Line Shopping.

O

Over/Under (Total): Bet on combined scoring relative to a set number.

Opening Line: The first widely posted number/price for a market.

P

Parlay: Multi-leg bet; all legs must win. See Parlays, Teasers & Round Robins.

Puck Line: NHL spread (typically ±1.5). See How to Bet on NHL.

Prop (Proposition): Bet on a player/team stat or event (e.g., TDs, shots, strikeouts).

Price: The odds tied to a number (e.g., -105 vs -115 on the same spread).

Public Betting: Distribution of tickets/money; timing tool, not a stand-alone system. See sport-specific public betting guides.

Q

Qualifier: Book condition for a bet or promo (e.g., min odds, min legs).

R

Reduced Juice: Lower vig (e.g., -105 instead of -110) that decreases break-even rate.

ROI: Return on investment; profit divided by total staked.

Round Robin: Automatic set of smaller parlays from a list of picks. See Parlays/Teasers/Round Robins.

Run Line: MLB spread (typically ±1.5). See How to Bet on MLB.

S

Same-Game Parlay (SGP): Parlay with correlated legs within one game; priced to account for correlation.

Sharp: Market-moving bettor or side; often aligns with early limits and closing movement.

Spread: Margin handicap (e.g., -3.5 vs +3.5). See Moneyline vs Spread vs Totals.

Steam: Fast, broad market move triggered by respected action/news.

Stake: The amount you risk on a bet (your unit size).

T

Teaser: Packaged spread/total adjustment for a fixed price (most relevant in NFL). See Parlays/Teasers.

Ticket %: Share of bet count on a side/market (crowd sentiment).

Total: Over/Under line for combined scoring.

U

Unit: Standardized stake size (often 0.5%–2% of bankroll). See Bankroll.

Under: A bet on fewer points/runs/goals than the posted total.

V

Vig (Vigorish): Book’s fee built into prices. Minimize via reduced juice and line shopping. See Vig & Juice Explained.

Void: Bet canceled/refunded due to rules (postponements, pitcher changes, void legs, etc.).

W

Waning/Waxing Lines: Colloquial for softening/strengthening prices as money enters the market.

Win % (Break-Even): Rate needed to profit at a given price (e.g., 52.38% at -110). See Vig & Juice.

Z

Zip Price: Informal for +100 (even money).