Sports betting can be a thrilling and lucrative hobby for many people, but it can also be a confusing and intimidating world for newcomers. One of the best ways to improve your understanding of sports betting is to familiarize yourself with the terminology used in the industry.
In this post, we will provide you with a sports betting glossary that will help you understand all the essential terms and phrases you need to know to become a successful sports bettor.
Here are some of the most common unique words one may find at reputable betting sites such as unibet sport, in order to get a better understanding of how sports betting works.
Action – The total amount of money that has been wagered on a particular game or event.
Bankroll – The amount of money that a bettor has set aside for betting on sports.
Bookmaker – Also known as a “bookie,” this is the person or company that accepts bets from sports bettors and sets the odds for each game or event.
Chalk – The team that is favored to win a particular game or event.
Cover – When a team wins a game or event by more points than the point spread, they are said to have “covered the spread.”
Edge – A bettor’s advantage over the bookmaker.
Future Bet – A bet that is placed on the outcome of a game or event that will take place in the future.
Handicap – Also known as the “spread,” this is the number of points that the favored team must win by in order for a bet on them to be successful.
Juice – Also known as the “vig,” this is the commission that the bookmaker takes on a bet. It is typically 10% of the wager.
Lock – A sure thing or a bet that is almost guaranteed to win.
Moneyline – A type of bet in which the bettor simply picks the winner of a game or event.
Oddsmaker – The person who sets the odds for each game or event.
Parlay – A bet that combines two or more individual bets into a single wager. All of the individual bets must be successful in order for the parlay to pay off.
Point Spread – The number of points that the favored team must win by in order for a bet on them to be successful.
Sharp – A professional sports bettor who is very successful and knowledgeable.
Underdog – The team that is not favored to win a particular game or event.
Value – When a bettor believes that a particular bet offers favorable odds and a high probability of success.
Vigorish – Also known as the “vig,” this is the commission that the bookmaker takes on a bet. It is typically 10% of the wager.
Wise Guy – A professional sports bettor who is very successful and knowledgeable.
Total – Also known as the “over/under,” this is a type of bet in which the bettor predicts whether the total number of points scored in a game or event will be over or under a certain number.
These are just a few of the most important terms and phrases that you need to know in order to become a successful sports bettor. By familiarizing yourself with this sports betting glossary, you will be better equipped to make informed and profitable betting decisions. Remember, knowledge is power in the world of sports betting, so take the time to study the terminology and learn as much as you can about the industry.