The sports betting industry is experiencing an era of upheaval, but thankfully, momentum is moving in the right direction.
Up until May of this year, a federal law known as the Professional and Amateur Sports Protection Act (PASPA) of 1992 banned sportsbooks in every American state except for Nevada. While the Silver State received a “grandfather clause” exemption to protect its previously existing sports betting industry, the rest of the country was out of luck.
That all changed in May, however, when the U.S. Supreme Court issued a 6-3 ruling which found the PASPA to be an unconstitutional restriction on states’ rights. The case stemmed from New Jersey’s series of efforts, both by voters and lawmakers, to legalize sports betting across the state.
Following the landmark ruling, individual states are now free to establish their own laws and regulations for the sports betting industry. And predictably, six states have joined Nevada since then, with Delaware, New Jersey, West Virginia, Mississippi, New Mexico, and Pennsylvania all launching legal sportsbooks in 2018.
With easy access to brick and mortar, online, and mobile sportsbooks now a reality in seven states, Americans are wagering on their favorite games and matches like never before.
But while millions of new bettors line up at the nearest betting window, or fire up a convenient mobile sportsbooks through their smartphone, many are discovering the industry’s maze of “insider” terms and phrases for the first time. It’s one thing to know which team you want to bet on, but unless you’re familiar with expressions like “three-leg parlay,” “moneyline movement,” and “teaser,” navigating the sportsbook like a true sharp is impossible.
Sports betting slang isn’t just about sounding the part either. Many of the more nuanced strategies and insights shared by savvy bettors – “reverse line moves” and “arbitrage” just to name two – have evolved organically, so they have unique names that aren’t well known to the general public. Unless you know how to speak the language, your sports betting research and analysis will remain limited to say the least.
If you’re a beginner new to the world of wagering, check out the glossary below to get a better grasp on the vernacular shared by savvy sports bettors.
The following terms and phrases are used regularly within the sportsbook industry, both by bettors and bookmakers alike:
ATS – An acronym which stands for “Against the Spread” (see point spread; spread). Bettors use the term ATS when describing a team’s result or record against the spread.
Bet shop –Another term for sportsbook or bookmaker; used mostly in the United Kingdom and Europe.
Book – Short for sportsbook or bookmaker; the term book is typically used in reference to sportsbook operators like William Hill, Boyd Gaming, etc.
Bookie – Any illegal or illicit bookmaking operation, usually operated in jurisdictions where sports betting is banned by law. Bookies are usually single-person entities conducting business in bars, back alleys, or online.
Buying points –A process by which bettors can adjust the point spread in their favor, in exchange for paying slightly higher “juice” (see juice) or “vigorish” (see vigorish; vig) on their wager. For example, NFL football bettors might see the Miami Dolphins as (-3) favorites over the New York Jets with a (-110) vig. Miami backers can then buy a half-point (0.5), adjusting the spread downward to Dolphins (-2.5) while the house increases the vig to (-120).
Circle game – Any instance in which the sportsbook decides to reduce betting limits on a particular game due to unforeseen circumstances. When inclement weather, a key player’s unknown injury status, or other variables make a game riskier than the book would prefer, you’ll see it circled on the betting board to signify lower limits.
Closing line–Used in reference to point spreads (see point spread; spread) or moneyline (see moneyline) odds, the closing line reflects the final number offered by sportsbooks before the event begins.
Consensus pick–In any two-way wager, the consensus pick is the side which attracts a majority of wagers. Sportsbooks record both the total wagers placed, and the total money wagered, for every event, and whichever side brings in 51 percent or more of the betting is known as the consensus pick. You can track consensus picks for NFL action, and all the other professional and collegiate action, using this handy database from TheSpread.
Cover – When used as a verb, covering is the act of winning a point spread wager. An underdog (see ‘dog; underdog) of (+6) can lose the game outright by a score of 24-20, but cover the bet 26-24 by virtue of the point spread. Conversely, a favorite (see favorite; fave; chalk) of (-6) must win the game by at least 7 points to cover the point spread. When used as a noun, a cover is any winning point spread wager.
Dog – Short for “underdog” (see underdog)
Edge – Any statistical advantage enjoyed by either the bettor or the bookmaker. As a bettor, shopping for lines (see line shopping) may be perceived as providing an edge over the sportsbook. On the other hand, sportsbooks ensure that they hold an edge over most bettors by charging vigorish (see juice; vigorish, vig).
Even money – Any wager which offers a true 50-50 ratio of risk to reward, or in other words, a payout which exactly matches the bet size. With a (-110) bet attaching 10 percent vigorish (see juice; vigorish, vig), bettors must pay $110 to win $100 profit, but an even money bet priced at (-100) requires $100 to win $100 profit.
Exotic – Any bet outside of the “straight” (see straight bet) or “parlay” (see parlay) categories. The term exotic is typically used in reference to “proposition” (see prop bet) wagers that concern player or team statistical performance, “teasers” (see teaser) and other adjusted bets, or “futures” (see futures) bets that concern win totals or championships.
Favorite –The team or side holding the higher statistical probability of winning. In sports which offer point spread (see point spread; spread) betting, the favorite must “cover” (see cover) a negative (-X) spread in order to win. In moneyline betting, the favorite offers negative odds such as (-175) – $175 bet to win $100 – to reflect their better odds of success against the “underdog” (see ‘dog; underdog).
Fixed-odds betting –Any wager using a “moneyline” (see moneyline) fractional odds (see fractional odds), or decimal odds (see decimal odds) rather than a point spread.
Futures bet – Any wager tied to the long-term outcome of a particular team or player. As a futures bettor, you might back the favored Golden State Warriors to win the NBA Championship at (-175) odds, or take Steph Curry to win the Most Valuable Player (MVP) award at (+600) odds. A futures bet can be placed on anything from a team’s win-loss record, statistical milestones, head coaches to be fired next, and divisional/conference/league titles. Bettors tend to enjoy the season-long “sweat” (see sweat) afforded by futures betting, along with “longshot” (see longshot) teams like Leicester City cashing in astronomical odds of (5,000 to 1) while winning the 2016 English Premier League (EPL) title.
Halftime bet –Any wager placed during halftime or intermission, and thus after bookmakers adjusted their live betting odds to reflect in-game scores and statistics.
Handicapper –Another term for sports bettor, a handicapper is anybody who attempts to analyze a game, match, or contest and predict the winning side.
Handle – A term used by sportsbooks to describe the total amount wagered. Handle can reference a specific game, a betting market, or a given period of time.
Hedging –A process whereby bettors place a second wager on the opposite side to ensure themselves a profit.Hedging usually happens in futures betting, so if you backed the Chargers to win the Super Bowl for $100 at (+2500) odds, you’d bet something like $1,000 on their opponent to guarantee a profit of either $1,000 or $1,500 no matter who wins.
In-game wagering –Also known as “live betting,” in-game wagering refers to sportsbooks allowing bets in real time during the game.
Key Number –In football point spread betting, key numbers reflect the most common final score margins. The most prevalent key number is 3, followed by 7, 10, 6, 4, and 14.
Moneyline – Any wager in which one side or the other wins without benefit of the point spread. The moneyline, expressed as (+1XX) for underdogs and (-1XX) for favorites), reflects the payout odds offered by the sportsbook.
Oddsmaker – A professional employed by sportsbooks and tasked with setting the odds and lines for available wagers.
Off the board –A term used to describe wagers which have been removed from the betting board. Sportsbooks will take a bet off the board only when exigent circumstances, such as sudden injury or inclement weather, make their risk untenable.
Opening Line –The initial moneyline odds and point spreads attached to a game or side.
Over/under – A type of wager predicated on predicting whether a game’s final score total, or a team’s win total, will be higher (Over) or lower (Under) than the sportsbook’s line.
Parlay –A type of wager in which bettors link two or more sides together on a single ticket. Parlay tickets require all sides to win and/or push in order to cash, and in exchange for this increased risk, the payout odds increase with each additional side included in the parlay.
Pick ’em –In point spread betting, a “pick’em” is any game in which the teams aren’t separated by a point spread. Pick’em games are essentially even money, and a 1-point margin in the bettor’s favor is enough to secure the win.
Point spread – The number used by sportsbooks to equalize two teams on unequal footing. The point spread, also known as “the spread,” is used to attract equal action on both sides even when one team is clearly superior. Underdogs getting the benefit of a (+X) point spread can win their bet without winning outright, while favorites must win by a certain number of points (see cover).
Proposition bet –Any exotic wager that concerns specific aspects of a game, including player performance, statistical milestones, and other novelties. The length of the national anthem performance at the Super Bowl is one of the most popular “prop” bets of the year.
Public – A term typically used in derogatory fashion in reference to recreational bettors (see square). A consensus pick is said to be the “public side.”
Push – Another term for a tie, usually used in point spread betting when the final score matches the spread exactly (i.e. 20-17 on a +3/-3 spread). When a push occurs, the sportsbook simply refunds your wager.
Spread –The (-X) or (+X) number used to equalize teams in point spread betting.
Straight bet –Another term for a standard moneyline wager.
Teaser – An exotic wager type consisting of three or more sides, with point spreads adjusted in the bettors favor, parlayed together.
Total – A line set by sportsbooks to reflect the expected combined final score. Football totals are typically set at 48 or 51, while basketball totals can reach the 210 or 220 range, and bettors can back either the Over or Under on a given total.
Underdog –The team or side holding the lower statistical probability of winning. In sports which offer point spread betting, the underdog can win outright or cover using the (+X) point spread in order to win. In moneyline betting, the underdog offers positive odds such as (+175) – $100 bet wins $175 – to reflect their worse odds of success against the favorite.
Wager – Any bet placed with a bookie or sportsbook.
The following slang phrases are used by experienced bettors who have been around the block:
Action – The term action is used by bettors to describe having money at risk on a game or event (i.e. “Tonight my action will be on the Patriots and Saints to cover big spreads”). Sportsbooks use the term action when referring to a wager remaining in place (i.e. “In the case of a venue change – like the Chiefs/Rams game relocating from Mexico City to Los Angeles – all wagers placed prior to the announcement are still action”). This definition of action is also commonly used in baseball betting, as bettors can decide to keep their wagers action only when the designated starting pitcher throws the first pitch or have the bet remain action when the starter is scratched.
Backdoor cover –Any winning point spread wager in which the team covering uses a late score to make up the difference. The most common example of a backdoor cover would be an NFL team getting (+7) while losing by 13 for most of the game. In this case, the losing team might get the ball back in “garbage time,” only to drive the field for a touchdown that, while meaningless in terms of the actual score, provides underdog bettors with a late cover. Bettors who back underdogs often speak of using the backdoor to secure the cover, or the backdoor “remaining” open against opponents sporting a weak defense.
Bad beat –In sports betting, the term bad beat is used to describe any losing wager that ostensibly should have won barring exceptional circumstances. A common form of bad beat is the backdoor cover, but you can suffer a bad beat when penalties provide the opposition a second chance, coaches make suboptimal decisions in crunch time, or players make egregious mistakes in the heat of the moment. One of the most popular segments on ESPN’s SportsCenter focuses on host Scott Van Pelt running viewers through a visual tour of the week’s most painful betting bad beats.
Chalk – Another word for the favored side. When betting (-1XX) moneyline favorites or (-X.X) point spread favorites, you’re said to be “taking the chalk.”
Dime – A code word used to describe any $1,000 wager. Underground bookies (see bookie) use slang words like dime to disguise their financial dealings when conducting business in public or over the phone. When dealing with a bookie, you might text them a request to “put two dimes on the Chiefs to cover (-7) tonight” if you want to fire $2,000 on Kansas City.
Dollar –Used in the same vein as dime, a dollar refers to any $100 wagering increment. Bettors who want to wager $300 on a side would tell their bookie “put me down for three dollars.”
Fade – When used as a verb, fading a side refers to betting against it. Bettors often prefer to fade historically bad teams like the Cleveland Browns, betting against them no matter the competition. When used as a noun, a fade is the side you’re betting against (i.e. “I don’t even like the Buccaneers that much, but the Browns have been my go-to fade all year”).
Fave – Short for “favorite” (see favorite; chalk).
Hook – A half-point (0.5) increment used in point spread betting. When backing a(-3.5) football favorite, you’d be “laying a field goal and the hook.” The hook is especially useful for underdog backers who need to break a point spread tie, as a (+3.5) dog wins by the slimmest of margins when the score winds up 14-17.
Juice –Another word for the vigorish, or the commission charged by sportsbooks.
Layoff –When used as a verb, laying off is a process in which sportsbooks facing unbalanced action on one side place wagers on the other side through a competing book. Laying off is used to reduce risk in cases where the public is overwhelmingly backing a particular side.
Lock – Any side which is perceived to be a guaranteed winner, at least in the eyes of those placing the wager.College football is known for offering an abundance of moneyline locks, like when juggernaut Alabama takes on bottom-tier team The Citadel as massive (-750000) favorites. True locks tend to offer little benefit in terms of risk-to-reward ratio, paying out pennies on the dollar.
Longshot – Any underdog facing unusually low odds of success. A (+14) underdog in point spread betting would be a huge longshot, as would a (+500) single-game moneyline side. In terms of futures betting (see futures bet), longshots tend to carry odds of (+1500) or worse.
Middle –When used as a verb, to “middle” a bet involves winning on both sides of a point spread or moneyline. When betting on football point spreads, you might back the Steelers as (-2.5) favorites to beat the Ravens. Then, after the line moves to Steelers (-3.5), you would place a second wager of equal size on the Ravens (+3.5), with the goal being a 3-point difference in the final score. When the game produces a 27-24 victory for the Steelers, or any 3-point win in their favor, you’ve successfully “middled” the game by winning on both the Steelers (-2.5) and Ravens (+3.5) tickets. When used as a noun, a “middle” is a successful wager using the parameters described above.
Mush – Any gambler who others perceive to be bad luck. Also known as a “cooler” (see cooler), a mush might profess to have a lock (see lock) in hand, prompting sharp (see sharp; wiseguy) to immediately back the other side. In the 2003 film “The Cooler,” actor William H. Macy stars as a naturally unlucky man employed by casinos to halt winning players in their tracks.
Nickel –Used in the same vein as dime and dollar, the term nickel is used to describe any $500 wager. Bettors interested in firing a $500 wager might text their bookie and ask them to “put a nickel on the Saints to cover (-7) tonight.”
Punter – Another term for sports bettor; used most commonly in the United Kingdom, Europe, and Australia.
Sharp – An alternative term used to describe astute, savvy sports bettors who utilize data and analytics to consistently beat the books. Generally speaking, the underdog is considered the “sharp side” in most contests.
Skin in the game – A term used to describe having money on the line for a particular contest. Without any skin in the game – also known as “action” (see action) or “sweat” (see sweat) -you have no financial ties to the result.
Square – An alternative term, used derisively, to describe a recreational sports bettor. A square bettor tends to bet with their heart rather than their head, backing big favorites and high-scoring powerhouses by default. Generally speaking, the favorite is said to be the “square side” in most contests.
Sweat – When used as a verb, sweating refers to the act of watching a game on which you’ve wagered (i.e. “I’m at the book sweating this USC vs. Notre Dame”). When used as a noun, sweat refers to a small wager placed solely for the sake of having “action” (see action) or “skin in the game” (see skin in the game).
Steam – When used as a verb, steaming refers to line movement that takes place at an unusually rapid rate. A line that shifts from (-3) to a (Pick’em) over the course of pregame morning might be said to be steaming. When used as a noun, steam is used to describe a point spread that has shifted dramatically in a short period of time. Steaming lines may be prompted by breaking injury news, coordinated wagering by a syndicate, or the wave of public betting which occurs when well-known touts (see tout) release their “best bet” selections.
Tout –When used as a noun, a tout is any person or business which purports to sell sharp picks, or otherwise provide advice on picks. Touts typically advertise their high win percentage (conveniently utilizing arbitrary sample sizes to inflate their numbers) in hopes of attracting bettors willing to pay for “winning” picks. When used as a verb, to tout a pick is the act of publicizing reasons why one side or another will wind up in the win column.
Vigorish (“the vig”) – The commission charged by sportsbooks to ensure themselves a profit on both sides of a wager. In a case when two sides hold equal odds of winning, the bookmaker might charge a 10 percent vig of (-110), meaning bettors must risk $110 to win $100. When used by underground bookies (see bookie), the vig can also refer to the running interest rates applied to outstanding debts.
Welch –When used as a verb, welching is the act of avoiding settlement of a sports betting debt (i.e. “the guy lost $200 to me, but he’s welching so I’ll probably see the cash.”) When used as a noun, a welch is anybody known for welching on their debts.
Wiseguy – Another term for a professional sports bettor, also known as a sharp (see sharp). The term “wiseguy” hails from sports betting’s historical connection to underground crime syndicates like the Mafia. Today, sportsbooks view any successful bettor who places wagers large enough to move lines as a wiseguy.ATS – An acronym which stands for “Against the Spread” (see point spread; spread). Bettors use the term ATS when describing a team’s result or record against the spread.
Wiseguy – Another term for a professional sports bettor, also known as a sharp (see sharp). The term “wiseguy” hails from sports betting’s historical connection to underground crime syndicates like the Mafia. Today, sportsbooks view any successful bettor who places wagers large enough to move lines as a wiseguy.
Sports betting slang sounds like a foreign language to outsiders. When you start betting on sports you need to learn what all of the strange words mean quickly if you want to avoid making mistakes. This guide to insider betting slang will help you get started.
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