A
- Action
- A wager or bet of any kind. Having 'action' means you have a bet in play.
- Against the Spread (ATS)
- A bet in which the point spread is taken into consideration, as opposed to a moneyline bet.
B
- Bankroll
- The total amount of money a bettor has set aside specifically for sports betting.
- Bad Beat
- A bet that looks like it will win but loses due to a last-minute or unexpected event.
C
- Chalk
- The favorite in a game. Betting 'chalk' means betting on the favorite.
- Closing Line
- The final odds or point spread offered before a game begins.
D
- Dog (Underdog)
- The team or player that is expected to lose according to the odds.
E
- Edge
- The advantage a bettor has over the sportsbook, usually expressed as a percentage.
- Expected Value (EV)
- The average amount a bettor can expect to win or lose per bet, calculated by multiplying each possible outcome by its probability.
F
- Futures
- A bet on an event that will be decided in the future, such as which team will win the championship.
H
- Handle
- The total amount of money wagered on a particular event or at a sportsbook.
J
- Juice (Vig/Vigorish)
- The commission the sportsbook charges for taking a bet. Typically -110 on each side of a spread bet.
K
- Kelly Criterion
- A mathematical formula used to determine the optimal bet size based on perceived edge and bankroll.
L
- Line
- The current odds or point spread on a particular event.
M
- Moneyline
- A bet on which team or player will win a game outright, without a point spread.
O
- Over/Under (Total)
- A bet on whether the combined score of both teams will be over or under a specified number.
P
- Parlay
- A single bet that combines two or more individual wagers. All selections must win for the parlay to pay out.
- Push
- A bet in which the result lands exactly on the spread or total, resulting in the bet being refunded.
R
- ROI (Return on Investment)
- A measure of betting profitability calculated as (net profit / total amount wagered) × 100.
S
- Sharp
- A professional or highly skilled bettor whose wagers can influence line movement.
- Spread
- The number of points the favored team is expected to win by. The favorite must win by more than the spread for a bet on them to pay.
T
- Teaser
- A type of parlay where the bettor can adjust point spreads in their favor, in exchange for lower payouts.
U
- Unit
- A standard betting amount used for tracking performance. Typically 1-2% of a bettor's total bankroll.
V
- Value Bet
- A bet where the probability of an outcome is higher than what the odds suggest, giving the bettor a positive expected value.
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