Sports Betting Jargon Glossary
Sports betting can be an exciting and rewarding activity, but for those new to the world of sports betting, the language and terminology can be overwhelming. To help you better understand the world of sports betting, we have put together a glossary of some common sports betting jargon.
Sports Betting Jargon
1. Action
When you have a bet on a game, match, or event, you have “action” on that bet. For example, if you place a bet on a football game, you have action on that game.
2. Bankroll
Your bankroll is the amount of money you have set aside for sports betting. It's important to manage your bankroll wisely to avoid losing all of your money in a short amount of time.
3. Bookmaker
A bookmaker, also known as a bookie, is a person or company that accepts bets on sports events. Bookmakers offer odds on various sports events and collect and pay out winnings to bettors.
4. Hedge
To hedge a bet is to place a second bet that will help minimize potential losses or lock in profits. For example, if you have bet on a team to win, you may choose to hedge your bet by placing a second bet on the opposing team to ensure you win money regardless of the outcome.
5. Over/Under
When you bet on the over/under in sports betting, you are betting on whether the total number of points or goals scored in a game will be over or under a certain amount set by the bookmaker.
6. Parlay
A parlay is a single bet that links together two or more individual wagers for a high payout. However, all bets in the parlay must win for the bet to be successful.
7. Push
A push occurs when a bet results in a tie between the bettor and the bookmaker. In this case, the original bet amount is refunded to the bettor.
8. Sharp
A sharp is a professional sports bettor who is considered to be knowledgeable and experienced in sports betting. Sharps often bet large amounts and are known for their success in sports betting.
9. Futures Bet
A futures bet is a wager placed on an event that will take place in the future, such as betting on the winner of the Super Bowl before the season starts.
10. Unit
A unit is a standard amount of money that a bettor uses for each bet. It's important to have a consistent unit size to effectively manage your bankroll.
By familiarizing yourself with these common sports betting jargon terms, you'll be better equipped to navigate the world of sports betting and make informed decisions when placing bets. Remember to always gamble responsibly and only bet what you can afford to lose.
11. Vigorish (Vig)
Vigorish, commonly known as the vig, juice, or the take, is the commission that a sportsbook charges for facilitating bets. It is built into the odds and ensures that the sportsbook makes a profit regardless of the outcome of the event.
12. Underdog
An underdog is the team or individual in a sports event that is expected to lose. Betting on the underdog can result in a higher payout if they win, as they are considered less likely to come out on top.
13. Moneyline
The moneyline is a type of sports betting that is based solely on which team will win the game. It does not take into account point spreads, making it a simpler form of betting for beginners.
14. Handicapping
Handicapping is the process of analyzing sports events to predict the outcome and determine the likelihood of one team winning over another. It involves factors such as injuries, weather conditions, and historical performance.
15. Live Betting
Live betting, also known as in-play betting, allows bettors to place wagers on a sports event while it is happening. This type of betting offers dynamic odds that change in real-time based on the action on the field.
16. Teaser
A teaser is a type of bet that allows the bettor to adjust the point spread in their favor for two or more games. However, all bets in the teaser must win for the bet to be successful, resulting in a lower payout compared to a parlay.
17. Chalk
Chalk refers to the favorite in a sports event. Betting on the chalk means wagering on the team or player that is expected to win, often resulting in lower payouts due to their higher likelihood of success.
18. Rotation Number
A rotation number is a unique identifier assigned to each team in a sports event, helping bettors and sportsbooks keep track of the different betting options available. It simplifies the betting process, especially when placing bets at a physical sportsbook.
19. Steam Move
A steam move is a sudden and significant change in the betting line or odds for a particular game, often caused by heavy betting action from professional bettors or syndicates. Following a steam move can be an indication of sharp money coming in on a specific side.
20. Square
A square is an inexperienced or casual bettor who typically bets with their heart rather than their head. Squares are often drawn to popular teams or players and are less likely to consider factors such as odds and value when placing bets.
Understanding these additional sports betting terms will further enhance your knowledge and confidence when participating in sports betting activities. Make sure to research and stay informed to make informed decisions and maximize your chances of success in the exciting world of sports betting.