The Gambling Glossary

The British/European term for a parlay, combining multiple selections into one bet.

Having a live wager on a game; also the total money wagered on an event.

A prop bet that a chosen player will score at least one touchdown during the game.

Placing bets on all outcomes of an event across multiple sportsbooks to guarantee a profit.

A record tracking how often a team covers the point spread, not just wins or losses.

The total amount of money a bettor has set aside specifically for sports betting or gambling.

The probabilities behind blackjack, including the house edge, bust chances, and payout rules.

Site credit from a sportsbook that you can bet with but not withdraw. Winnings pay out without the stake.

A soccer bet on whether both teams will score at least one goal in the match.

Paying extra juice to move a point spread or total in your favor.

The heavily favored team or player in a game or event.

The final odds offered by a sportsbook before a game starts, often used as a benchmark for line value.

The value gained by betting at a better price than the closing line.

The percentage of public bettors wagering on each side of a game.

A parlay where the outcomes are statistically related. One winning increases the chance of the other winning.

When a team wins by more than the point spread, satisfying the bet.

When two or more competitors finish tied, resulting in winnings split proportionally.

Removing the sportsbook's margin from a set of odds to estimate the fair probability of each side.

The team or player expected to lose, shown with positive odds.

A soccer bet that covers two of the three possible results: home win, draw, or away win.

A UK-style bet made of two equal parts: one to win and one to place.

A horse racing bet where you pick the first two finishers in the exact order.

The average outcome of a bet over time. Positive EV bets profit in the long run.

Betting against a team, handicapper, or public consensus.

A long-term bet on an event that will be decided weeks or months in the future.

A bet on the combined total goals, runs, or points scored across all games of a sport on a single day.

The process of analyzing games and events to find an edge over the sportsbook's line.

Placing a bet on the opposite side of an existing wager to reduce risk or lock in profit.

The percentage of all money wagered that a sportsbook keeps as profit.

A half-point in a betting line, such as -3.5 instead of -3.

The casino's built-in average profit on a game, shown as a percentage of each bet.

The win probability implied by a set of odds, including the sportsbook's margin.

The commission charged by a sportsbook on every bet, built into the odds.

A mathematical formula that determines the optimal bet size to maximize long-term bankroll growth.

The most common margins of victory in a sport, and the numbers spread bettors care about most.

One individual selection inside a parlay, teaser, or other multi-bet.

Wagering on a game while it is in progress, with odds that update in real time.

Winning both sides of a bet by catching the final score between two different lines.

A bet on which team or player will win a game outright, without a point spread.

A wager that is declared void and the full stake returned, usually due to a cancellation or a player not participating.

A sportsbook promotion that raises the odds on a specific bet above its normal price.

The initial odds or spread set by a sportsbook when a market first opens.

A bet on whether the combined score of both teams will be over or under a set number.

A single bet that links two or more individual wagers for a higher payout. All legs must win.

A game with no favorite (a spread of zero), or a contest where you pick game winners.

Odds with a plus sign (like +150), meaning you win more than you risk.

A handicap applied to a game that forces the favorite to win by a specified margin.

The order of poker hands from strongest (royal flush) to weakest (high card).

The ratio of the pot to the cost of a call, used to decide whether calling is profitable.

A bet on a specific occurrence within a game that doesn't directly relate to the final outcome.

Hockey's version of the point spread, typically set at ±1.5 goals.

A tie between the bettor and the sportsbook. Your stake is refunded.

A horse racing wager where you pick two horses to finish first and second, in either order.

The fee a casino or poker site takes from each pot or tournament entry.

When a betting line moves opposite to the direction public betting percentages would suggest.

A set of smaller parlays built from every possible combination of your selected teams.

The percentage of all money bet on a game that it pays back to players over time.

Baseball's version of the point spread, typically set at ±1.5 runs.

A parlay made of multiple bets from a single game, such as player props, the spread, and the total.

A professional or highly sophisticated bettor who consistently makes profitable wagers.

A recreational bettor who wagers based on gut feeling rather than analysis.

A sudden, significant movement in a betting line caused by heavy sharp money on one side.

A horse racing bet where you pick the first four finishers in the exact order.

A type of parlay where you move the point spread in your favor on multiple games in exchange for reduced odds.

The best possible hand at a given moment, based on the cards on the board.

Someone who sells sports picks or betting advice, typically for a fee.

A horse racing bet where you pick the first three finishers in the exact order.

A standardized betting amount, typically 1–2% of a bettor's total bankroll.

A bet placed when the bettor believes the true probability of an outcome is higher than the odds imply.

A professional sharp bettor with a documented winning record who places large bets that move lines.

In soccer 1X2 markets, X represents the draw outcome. Betting X means you win only if the match ends level.

A popular UK bet type with 4 selections and 11 separate bets covering every combination of doubles, trebles, and a fourfold.

The principle that in sports betting, every dollar won by a bettor comes from another participant or from the house.