Sports Betting Glossary
A complete A–Z reference of sports betting terms — from action to vig. Every word you'll encounter at the sportsbook, explained clearly.
Action
A bet that is active and has money riding on it. When a game is 'in action,' your wager stands regardless of lineup changes or weather.
ATS (Against the Spread)
A bet on whether a team will cover the point spread, rather than simply win or lose the game outright. A team can win the game but lose ATS if they don't win by enough.
Bad Beat
A loss that occurs in a particularly painful or unlikely way — typically when a bet looks certain to win right up until the final moments. A last-second garbage-time touchdown that covers a spread is a classic bad beat.
Bankroll
The total amount of money a bettor has set aside specifically for sports betting. Proper bankroll management — betting a consistent percentage per wager — is the foundation of any long-term strategy.
Closing Line Value (CLV)
The difference between the odds you bet and the odds at game time (the closing line). Consistently beating the closing line is one of the strongest indicators of a sharp bettor, since the closing line reflects the most efficient market price.
Fade
To bet against a team, player, or another bettor. 'Fading the public' means betting opposite to where the majority of recreational money is going, based on the theory that the public often overvalues popular teams.
Futures
A bet placed on an outcome that will be decided well in the future — such as a team to win the championship, a player to win MVP, or a team's season win total. Futures typically offer higher payouts but tie up your money for an extended period.
Handle
The total amount of money wagered on a game or event. A high-handle game means a large volume of bets have been placed, which typically results in sharper, more efficient lines.
Hook
The half-point in a point spread (e.g., -3.5 instead of -3). The hook matters because it eliminates the possibility of a push. Bettors often pay a premium to 'buy off the hook' on key numbers.
Implied Probability
The probability of an outcome as implied by the odds. Calculated by converting odds to a percentage. For example, -110 implies a 52.4% chance of winning. If you believe the true probability is higher, you have found value.
Juice (Vig)
See Vig. The commission charged by the sportsbook on every bet. Standard juice is -110 on both sides of a spread, meaning you must bet $110 to win $100.
Key Numbers
The most common margins of victory in a sport. In NFL football, 3 and 7 are the most critical key numbers because so many games are decided by a field goal or a touchdown-plus-conversion. Spreads of -3 and -7 carry extra significance.
Line
The odds or point spread set by a sportsbook for a given game. Lines open days before the game and move based on betting action, injuries, and sharp money. Also called 'the number.'
Moneyline
A bet on which team will win the game outright, with no point spread involved. Favourites are listed with negative odds (e.g., -165) and underdogs with positive odds (e.g., +140). The odds reflect the implied probability of each outcome.
Over/Under (Total)
A bet on whether the combined score of both teams will be over or under a number set by the sportsbook. Also called 'the total.' You are not picking a winner — only whether the game will be high- or low-scoring.
Parlay
A single bet that links two or more individual wagers. All legs must win for the parlay to pay out. The potential payout grows with each added leg, but so does the risk. Parlays carry a higher house edge than single-game bets.
Prop Bet (Proposition)
A bet on a specific event within a game that doesn't directly relate to the final score. Examples include player props (will a quarterback throw for over 275.5 yards?) and game props (will there be a defensive touchdown?).
Push
When the final result lands exactly on the spread or total, resulting in a tie. In a push, your original stake is returned with no profit or loss. For example, if the spread is -3 and the favourite wins by exactly 3, the bet pushes.
Sharp
A professional or highly sophisticated bettor who bets large amounts and consistently beats the closing line. Sportsbooks track sharp action closely and will move lines in response to it. Opposite of a square.
Spread (Point Spread)
A handicap applied to a game to level the playing field between two unevenly matched teams. The favourite must win by more than the spread; the underdog must lose by less than the spread (or win outright) for their bettors to collect.
Square
A recreational or casual bettor who typically bets on popular teams, favourites, and overs. Squares tend to bet with their hearts rather than the numbers. Sportsbooks profit most from square action.
Steam
A sudden, significant line movement caused by a large volume of sharp money hitting the same side simultaneously — often across multiple sportsbooks at once. Steam moves signal that professional bettors have identified value.
Teaser
A modified parlay that allows you to adjust the point spread or total in your favour by a set number of points (typically 6 in football). In exchange for the improved line, the payout is reduced. Teasers through key numbers can offer genuine value.
Unit
A standardised betting amount used to track performance without revealing actual dollar figures. One unit is typically 1–2% of a bettor's total bankroll. Tracking wins and losses in units allows for meaningful comparison across bettors with different bankroll sizes.
Vig (Vigorish)
The commission built into every bet that ensures the sportsbook profits regardless of the outcome. On a standard -110 line, both sides of a bet imply a combined 104.8% probability — the extra 4.8% is the vig. Also called juice or the house edge.