Do sports betting terms and lingos leave you overwhelmed? There’s nothing to fret about. Every amateur bettor had been in the same boat initially. So, take a deep breath.
This glossary will prepare you to talk, think, and bet like seasoned punters.
Betting Basics
Here are a few standard terms used by sports betting enthusiasts regularly.
Bookie
Another name for a bookmaker. A bookie hosts betting events and releases odds for different sports events.
Favorites
The player or team with a higher winning probability is the favorite. Negative sign indicates (-) favorites.
Underdogs
On the contrary, the underdog is a player or team expected to lose the game. A positive sign denotes (+) underdogs.
Bankroll Management
The bankroll refers to funds available in your sportsbook account. Hence, managing this deposited amount is bankroll management. It includes setting daily, weekly, or monthly wagering budget. Understanding when to wager and stop is also crucial to handling your bankroll.
Payout
Payout is money a bookmaker pays if you win a bet. It’s a total return on your stake.
Common Lingos
Here’s a roundabout of crucial sports betting terms that will help you calculate profits on your bets.
Handicapping
Using maths-based rating systems to predict the outcome of a matchup.
Vig/Juice
Vig is a commission a player pays to a bookmaker for hosting sports betting events.
Bad Beat
Losing a bet with a higher winning probability is a bad beat. Usually, it happens when players place a stake on totals, money lines, and point spreads.
Dime
Placing a stake of $1,000.
Wagering Requirement
It’s a bonus condition you must fulfill to redeem your payouts if you win a bet, such as 20x, 30x, or 40x. Also called the rollover requirement, it can vary as per your chosen promo and sportsbook. Every punter must learn how betting rollover works to withdraw their winning amount successfully.
Cash Out
Withdrawal of winning bets from your sportsbook account to your personal bank account is a cashout process.
Crucial Betting Terminology
These terms define betting techniques. Knowing them will allow you to wager on a suitable event.
Moneyline
It’s the simplest bet option where you’ll place a stake on one team/player you expect to win the event.
Total
Bookmaker will predict the combined score for both teams in a sports matchup. Bettors will place a wager on the above or below that set total points. Hence, the name! Some sportsbooks also mention this bet type as over/under-betting.
Points Spread
A point spread is a number set by oddsmakers to determine the gap between the game’s underdog and favorite. You’ll punt on the point margin between two teams.
Parlay
It lets you place multiple bets (two or more) to boost your winning probability. To earn a payout, you must win each paylay bet.
Teaser
You can use this type of bet to adjust totals or point spreads (or both). In other words, it allows you to move the line to a set number of points.
Proposition Bets
You’ll bet on other events during the matches, like the color of the Gatorade and the length of the national anthem at the Super Bowl.
Quarter Bet
This type of bet is usually available in basketball or American football matches. In this, you’ll wager specifically on the result of a particular quarter or period within a matchup.
In-play Betting
In-play betting allows punters to bet on a specific outcome after the match kickstarts.
Banker
It’s a safe wager on a powerful favorite. Punters can use a banker to strengthen their hand in multiple bets.
Other Sportsbook Terms
Ticket
It’s a betting receipt or digital confirmation you’ll receive after placing a bet on any sportsbook.
Soft Bookmakers
Since these bookies gradually change their odds, betting on these sites will be convenient for novice players.
Sharp Bookmakers
The odds on these sportsbook platforms change fast as they use math-based software. Hence, sharp bookmakers are ideal for seasoned and experienced bettors.
Push
A push refers to a draw between a bookmaker and a punter. So, neither of them wins nor loses the wager. It happens if the bet outcome lands exactly on the point spread set by the bookie. As a result, the sportsbook will refund the original stake to bettors.
Sportsbook Abbreviation
You’ll also find various abbreviations while playing on sportsbook sites.
ATS: Against the Spread
BIR/BIP: Betting In Running or Betting In-Play
FPTS: First Player To Score
BTTS: Both Teams To Score
CS: Correct Score
AH: Asian Handicap
SUB: Sign Up Bonus
ACCA: Accumulator
O/U: Over/Under
DNB: Draw No Bet
WR: Wagering Requirements
DE: Defensive End
DB: Defensive Back
FB: Full back
LB: Linebacker
OL: Offensive Lineman
RB: Running Back
QB: Quarterback
FAQs
- What is a betting calculator?
You can assess a payout on a bet based on your stake and odds in American formats using a betting calculator.
- What are betting odds?
Betting odds define the likelihood of a game’s outcome. Using betting odds, you can calculate your payout beforehand for accurate predictions. It’s available in three formats on sportsbooks, i.e., decimal (European), fractional (British), and money line (American) odds. Higher odds indicate a lower probability of the outcome, while lower odds imply a higher win probability.
- Who decides the odds?
An oddsmaker sets the odds and lines for a particular sports event using various resources like power rankings, computer algorithms, previous performances, and industry insights.
- What is RTP?
RTP refers to Return To Player. It’s the potential money that a bettor will receive after winning a wager. In sports betting, RTP depends on the accuracy of your prediction. Hence, it can differ based on your punting skills and experience.
Wrapping It Up
Keep your A-game ready next time you pay on a sports betting site. Learning these sportsbook lingos by heart will be your road to becoming a betting pro.
