Glossary
Action: Any sort of bet
Bankroll: The amount of funds a bettor has to wager
Bet Percentage: The percentage of actual bets at a specific sportsbook on a given side (example: 78% of the bets are on the Patriots)
Bookmaker: Person who sets betting odds and takes bets
Chalk: The side of a bet with the most public support
Cover: When a team wins by more points than the betting spread OR when the underdog loses by fewer points than the betting spread (or wins outright)
Edge: When a bettor has an advantage over the house
Even Money: A bet that has no vigorish (“vig” or “juice”) and has a return that equals the original bet
Favorite: The team or side expected to win
Future Bet: A wager on some sort of game or event that takes place in the future (example: betting on the World Series winner prior to the MLB season)
Juice: Also known as the vigorish (or vig), it’s the amount of money kept by the sportsbook on every bet, typically associated and represented with a spread bet (example: the Celtics are 6-point favorites with -120 juice means the sportsbook keeps 20% no matter the outcome)
Limit: The maximum dollar amount a sportsbook will allow for a single bet on a game or proposition
Moneyline Bet: A straight-up bet on a single team to win a game outright independent of any spread
Money Percentage (or Handle Percentage): The percentage of money wagered at a specific sportsbook on a given side (example: 37% of the money – or handle – is on the Bills)
Off the Board: When sportsbook doesn’t offer odds or the ability to bet on a certain game, usually because of news that adds uncertainty to event (i.e. injury, transaction, etc.)
Over/Under: A total, typically related to overall points scored in a game by both teams, made by the sportsbook to encourage betting on both sides (example: The over/under for the Patriots-Jets game is 42.5 points)
Parlay: A single bet that includes wagering on more than one side that has a much higher payout than a single bet but needs to win all legs in order to cash out
Pick ’em: A game that is essentially too evenly matched for a betting spread and neither team is favored
Point Spread: A number decided by the sportsbook to predict the amount of points by which the favorite should beat the underdog, created in a way to encourage betting on both sides
Prop Bet: Bets on events in games that aren’t related to the side or total, usually referring to player stats (points, rebounds, yards, etc.)
Public: A catch-all way to describe which way bettors are leaning with regards to a specific bet, connected to both bet percentage and money (or handle) percentage
Push: A bet that is a “tie,” so to speak, when the game’s spread or point total ends up being equal to the corresponding bet, and the bet is refunded (i.e. a game with a 3-point spread ends 27-24)
Run Line/Puck Line: Alternative way to bet sports like baseball or hockey where point spreads aren’t as prevalent. Typical run/puck lines are 1.5, acting as a point spread for that bet
Teaser: A wager that allows a bettor to adjust a betting line by a set amount of points that is similar to a parlay in that it needs all sides to win. (example: two-team, six-point teaser could make a 7-point favorite a 1-point favorite and 10-point underdog a 4-point underdog)
Underdog: The team or side not expected to win
Unit: A fraction of a bankroll that differs by size of a bettor’s bankroll, typically used to keep track of a bettor’s record