A Glossary on Sports Betting Terminology

The sports betting scene is a dog-eat-dog world, where only the sharpest bettors prevail. That’s why understanding the language of sports betting is just as important as making value-based wagers.

Sports betting in English-speaking markets like the UK has been part and parcel of popular culture for several decades now. Although it’s only recently taken flight on the other side of the Atlantic in the US., many of the UK’s most established sports betting brands have entered the US market, with bet365 one of the most successful to date. The Stoke-on-Trent-based operator is described as having one of the most competitive welcome bonus options, with bonus wagers offered to first-time bettors.

However, without mastering the terminology of the sports betting industry, it’s difficult for newbies to understand and maximize every drop of potential from such promotions. With that in mind, we’ve put together a glossary of the most popular sports betting terms to help you understand the markets like a pro.

Favorite

The favorite is a team or player that’s expected to win an upcoming match or event. In moneyline betting, pre-event favorites are usually indicated by negative odds rather than positive odds. Negative odds mean you’ll win less than one unit in potential winnings for every unit staked.

Handle

In sports betting, the handle is the overall amount of money wagered by punters on a specific game or event during a set period. It’s a well used metric for measuring the popularity and profitability of sports betting markets.

Live Betting

Live betting involves placing a wager on a sports game or event that’s already in-play. Live betting is therefore a dynamic way to bet on sports, allowing bettors the benefit of watching the action or in-play statistics to inform betting decisions.

Moneyline

The moneyline is the market where bettors can wager on the potential winner of an upcoming game or event. It’s as simple as backing the team you think will win. If they win, you’ll be paid out at the odds displayed. If they don’t win, your bet is a losing one.

Odds

Odds in sports betting represent the likelihood of a particular outcome occurring in a event. Odds can be displayed in a variety of formats, usually decimal (1.50), fractional (1/2) or American (-200).

Over/Under

Over/Under relates to the total markets. This type of bet involves wagering on whether the combined score of both teams in a game will be over or under a predetermined benchmark figure by your chosen online sportsbook.

Parlay

A parlay – also known as an accumulator – is a single bet which combines multiple wagers on the same betslip. For a parlay to pay out, all selections on the betslip must win. Parlays have the potential to yield higher payouts but also carried heightened risk.

Prop Bet

A prop bet – also known as a proposition bet – is a wager placed on certain outcomes within a game or event that’s not directly related to the final score. It could be betting on the first player to score or the total number of strikeouts in a baseball game, for example.

Push

A push occurs when the final score of a sports match ends directly on the point spread or total benchmark defined by the sportsbook. In such cases, all bets are refunded, with no winnings or losses incurred.

Sharp

Someone who is referred to as a sharp bettor is known as a serious sports bettor who makes informed and strategic wagers based on extensive research and analysis. Sharps are usually respected by sportsbooks for their expertise and ability to pinpoint value in the markets.

Spread

The spread – also known as the point spread – is a handicap assigned by sportsbooks to balance the betting action on both teams ahead of a game or event. It’s represented by a number of points that one team is supposed to win or lose by.

Teaser

A teaser is a bet type similar to parlay betting. It allows bettors to combine multiple bets into one wager. However, teasers offer the advantage of adjusting the point spread or total in the bettor’s favor, albeit with reduced payouts.

Underdog

The underdog is known as the team or player expected to lose a game or event. In moneyline betting, underdogs are indicated by positive odds. This means you’ll get more than one unit back for every unit wagered on them.

Vigorish

Vigorish – also known as vig or juice – refers to the commission or fee taken by sportsbooks for facilitating bets. It’s built into their odds and ensures the bookmaker turns a profit regardless of the outcome of the event.

Wagering Requirements

Wagering requirements are the conditions imposed by online sportsbooks that specify how many times a player must wager their bonus funds before they can withdraw any winnings associated with said bonus funds. The more times a player must wager to clear a bonus, the weaker a bonus is.