The global market for legal sports betting is growing significantly. Sports fans may find it difficult to avoid seeing and hearing certain terminology and concepts as they become more commonplace.
For new sports fans, a lot of the new terminology is unfamiliar. Particularly for those who are new to the sector, sports betting jargon can be bewildering. Some of the most common sports betting terms you should know include:
Action
Action can refer to any type of live betting option or the total amount staked on an event. All odds that are posted for betting are accepted by bookmakers.
Bookmaker
This is a licensed individual who receives bets and determines the daily betting odds. A bookie can also be referred to as a linemaker.
Tipster
This is someone who provides professional betting advice. But knowing how unpredictable sports can be, don’t pay for tips unless a tipster has an impressive winning track record.
Bet slip
A bet slip is a section where bettors can place their predictions. In the past, a bettor would write out selections on a piece of paper known as a “bet slip” while placing a wager at a sportsbook.
The bet slip is the section where wager amounts and selections are made on sports betting apps. A bettor can use a bet slip as a receipt.
House rules
This is a list of regulations provided by a sportsbook that describe the overall and/or particular guidelines for play. The house regulations of a sportsbook will specify who is and is not permitted to wager. The rules also specify the minimum and maximum bet sizes, and the betting standards.
Handicap
These are the odds for betting that are set by a bookmaker and intended to level the playing field. When Atlanta United takes on a team that is weak as Inter Miami, they might be given a -7.5 point disadvantage before or during the game. If Atlanta defeats the opponent by eight points or more, they fulfill the handicap and generate winning wagers.
Odds
The price that a bookmaker is willing to offer on a wagering option. Odds against refers to a price that is greater than evens, such as 2/1, 5/2, etc. Therefore, a winning wager would result in a payout that exceeded the stake.
Conversely, odds on are when the odds are less than evens, such as 10/11, 1/2, etc. Therefore, there is a strong likelihood that your wager will win, but the profit would be less than what you first wagered.
Arbitrage
Also called “sure bets”, this is when you bet on every scenario that could happen during an event. This type of bet seeks a guaranteed profit despite low-profit margins because not all bets placed will result in a win. There are platforms that provide surebet tips and make the process of choosing the right bets very easy.
Point Spread
This is the margin of victory that the oddsmakers have chosen to encourage wagering on both the favorites and the underdog. For a favorite to cover the point spread, the winning margin must be greater than the point spread. For an underdog to cover the spread, they must win the game outright or lose by fewer points than the spread.
Favorite
In any game or event, this is the expected outright victor. Favorites are valued with a value that is negative and are regarded as granting points in the point spread.
Underdog
Any game or event’s projected outright loser is called an underdog. Underdogs are given a positive price and are seen as gaining points against the spread.
Against the spread (ATS)
This describes a team’s performance in relation to the point spread. The true win-loss record of a team differs frequently from their record against the spread, sometimes significantly. A football club, for instance, might end the year with a 10-7 record in straight games. It might have a substantially worse track record against the spread, though, if it routinely fails to cover the point spread.
Parlay
This is a wager that mixes several games to increase the reward. The risk is higher but the payout is larger the more games there are. Each game must either win or push (end in a tie) for the parlay to work out. The entire stake is lost if any of the games are a loss.
Cover
This is the result of a point spread wager. A favorite must win by a margin greater than the spread to cover. An underdog covers the spread by losing with fewer points than the spread or winning the game.
Rollover
Rollover is the minimum deposit that you must make to withdraw your bonus funds. It is always stated as an integer that is a multiple of the bonus amount or the sum of the bonus and your deposit.
Teaser
Teaser is yet another buzzword worth knowing you’re planning to bet on sports regularly. It’s a bet that includes numerous games and gives the gambler the option to change the lines for each game. A teaser bet pays out only if each team included covers the new line, much like a parlay.
Over/under
This could be a figure that indicates how many points will be scored during a game or match. It may also refer to how many games a team will win in a given season. Bets on the over are paid out if a football game’s over/under is 43.5 and the two sides score a total of 44 points. Futures wagers on the under are paid out if for instance a baseball team’s win total over/under is 82.5 and it wins 81 games.
Line movement
Line movement is when a game’s odds shift between when betting is available and when the action starts. Lines can change due to several factors, such as a serious injury on one side. Lines can also move as a result of weather changes or significant public wagers favoring one team over the other.
Prop bet
This is a wager placed on a potential event during a game, unrelated to the outcome of the game. These bets frequently have a strong connection to the game itself.
An example of a wager might be on whether or not a specific player will get a touchdown. There are other props that are only tangentially related to the action, such as bets on the coin toss that starts a football game.