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Glossary of Terms Used In The World of Online Sports Betting

September 28, 2021

Written By,

Brijesh Mehta

On this page, you will find an up-to-date glossary of terms used in sports betting. We provide the definitions of common terms related to sports betting that you have heard or will hear if you want to enter into the world of sports betting.

sports betting glossary

Sports betting is one of the most popular betting markets where a gambler places their bet on any sports outcomes. There are various sports-related games where the player can place their bet.

Some of these sports include Football, Basketball, Tennis, Baseball, and many others. Just remember all of these games have their own language and special vocabulary.

However, here we will be mostly dealing with the general terms and phrases used in most forms of sports betting if not all.

Side Note: Interested to know the winning tips for betting on the most popular sport in India, cricket; then read our guide on online cricket betting tips.

Let’s trawl through many terms related to sports betting.

Sports Betting Terminology

Below, we have compiled a list of the most common terms associated with sports wagering. Check them out:

Accumulator Bet: Accumulator bet, also known as a parlay bet, includes multiple selections into a single wager.

The payout of an accumulator bet is high but to win this type of bet, each of the individual bets must be won.

Across the Board: It is a combination of three horse racing bets on a horse to win, place, and show.

Action: Action is a slang term for a wager of any kind of game.

Arbitrage: Arbitrage is a strategy that involves betting on both sides of a game or event on each possible outcome with various sportsbooks.

ATS: It stands for Against the Spread.

Bankroll: It is the sum of money one keeps aside for wagering on sports bets.

Bad Beat: Players experience bad bets when they are losing bets that they are supposed to win.

Beard: A person who places bets on behalf of another person who wishes to remain anonymous. They are often known as a runner.

Bitcoin: Bitcoin is a popular digital currency or cryptocurrency used by many sports maker’s sites

Bookie:  A licensed betting site that accepts sports bets.

Canadian Line: It is a type of betting used in ice hockey that combines point spreads and money line betting.

Chalk: It is another term for the favorite.

Chalk Bettor: Players who most typically bet on favorites.

Commission: It is the amount of money bookies take on each bet.

Decimal Odds: Decimal odds, also referred to as European odds are one of the three formats for expressing odds. They are mostly displayed in decimal numbers such as 1.20. The decimal odds number represents the total payout (including your initial stake) you receive for every ₹1 wagered. If you wager ₹100 at odds 1.80 and win the bet, you will receive ₹180 where your profit is ₹80.

Dog: It is an abbreviation for the underdog, a team that a bookie assumes to lose the game or event.

Dog Player: Player who mostly bet on the underdog.

Double Bet: The betting amount that a player chooses to wager twice their normal betting unit. 

Double Pop: Similar to double bet.

Drift: It is a term used for betting odds that keep on lengthening or getting higher during the match.

Edge: An advantage that bettors have against the house or vice versa.

Exacta: A bet mostly used in horse racing where a wager is made on two specific horses to finish first and second.

Exotic Bet: Term that is used to describe non-traditional sports bet. This bet is also known as prop or proposition wager in the sportsbook.

Exposure: The amount of money that bookies potentially could lose in a match or event.

First Half Bet:  A wager that is placed on the first half or first quarter of the game or event. These types of bets are most popular in sports such as football, soccer, and basketball.

Flat Betting: It is a type of betting system where gamblers bet on the same amount of money on every session.  

Futures Bet Type of bet placed in advance to predict a future outcome of an event, match, or playoff series.

Get Down: Term used for making a bet.

Hedging: It is a strategy used by bettors to lock up profits or minimize risks. In this, players wager on the opposite side of their original bets and are most popular in future bets.

High Roller: High roller refers to the player who wagers consistently with a large amount of money on sporting events.

In-Game Betting: This is the type of betting where punters place their bets while the game is going on.

Juice: Juice, also known as vig or vigorish is a margin or profit that sportsbook hold on each bet.

Line: It is a betting odds or the point spread posted by the bookies.

Lock: A bet that is certain to win and almost impossible to lose.

Margin: A type of wager where a bettor selects a team to win or lose by a range of points over another.

Nap: Similar to lock.

Odds: Odds represent potential payouts players get for winning bets.

Parlay: A single wager that includes multiple bets. In order to win this bet, all individual bets must be won. It is also called an accumulator.

Press: Wagering more amounts on stake than usual or betting unit.

Return: The sum of money received when the bet is won. It includes the initial stake.

Run: A point spread used especially in baseball based on the number of runs. 

Spread: An abbreviation for point spread.

Total: It is the number of points, goals, or runs of both teams when the game finishes.

Treble: Treble is parlay bets that consist of three separate sections.

Underdog: The team that is less likely to win the game.

Vigorish/Vig: It is a charge or commission the casino or sportsbook takes. Also, known as juice.

Wager: Same as the bet.

Final Thoughts

We have presented you the alphabetized list of the most common terms that you can encounter in sports betting.

Just remember to use this glossary as a reference tool whenever you come across unfamiliar words or phrases and become a more informed bettor.

After knowing the above-mentioned terms, you can start your betting journey and you will be less confused throughout the journey.

Also, place your bets from the best online casino that offers a wide variety of betting platforms and the most advantageous odds.

BetBarter India is one of the most popular sites known for delivering high-end betting platforms for a wide range of sports.

So, browse the site now and check what they have for you.

Good Luck!

Written By,

Brijesh Mehta

Brijesh Mehta is a content writer & strategist from India providing his top-notch skills & expertise in the Sports and online casino industry for more than seven years. He is an avid reader and creative writer who is fond of words and uses them to teach others about online betting and trending sports news through his in-depth guides.