Sports betting terms glossary (A-Z)
Last updated: 2026-07-30 · Written by Priya Nair
Every sportsbook uses the same core vocabulary, but the terms rarely get defined on the betting slip itself. This glossary covers the terms you'll actually run into — bet types, odds concepts, staking terms and account/bonus jargon — with a short plain-English definition for each, and a link to the full guide where a topic is deep enough to deserve one.
A-F
Accumulator/parlay — a single bet combining multiple selections that all must win; see accumulator and parlay bets explained. Arbitrage — betting all outcomes across different books to lock in profit regardless of result; see arbitrage betting explained. Asian handicap — a spread format using quarter and half-goal lines to eliminate the draw; see Asian handicap explained. Bankroll — the total amount of money set aside specifically for betting, separate from regular spending money; see bankroll management explained. Buying points — paying extra vig to move a spread or total by half a point in your favor; see buying points explained. Cash out — settling a bet before the event ends for a value the book calculates in real time; see cash out explained. Closing line value (CLV) — how your bet's odds compare to the final odds right before the event starts, used as a long-term skill indicator; see closing line value explained. Cover — when a spread bet wins, i.e. the favorite won by more than the spread or the underdog lost by less than it (or won outright). Even money — a bet paying exactly 1:1, shown as +100 in American odds. Favorite — the side the sportsbook expects to win, marked with a minus sign in American odds.
G-M
Handicap — a points or goals advantage/disadvantage applied to a side to level a mismatched game; see handicap betting explained. Hedge — placing a bet on the opposite outcome of an earlier bet to guarantee a profit or limit a loss; see hedging a bet explained. Hold — the percentage of total money wagered that a sportsbook actually keeps as profit, distinct from the vig baked into any single line. Implied probability — the win chance a set of odds represents, calculated directly from the odds format; see odds formats explained. Juice — another name for vig, the built-in cut a sportsbook takes on a bet. Kelly criterion — a staking formula that sizes each bet as a percentage of bankroll based on perceived edge; see Kelly criterion staking explained. Limit — the maximum amount a sportsbook allows on a given bet, often lowered for bettors who win consistently. Line shopping — comparing the same bet's price across multiple sportsbooks before placing it; see line shopping explained. Line movement — how a betting line changes between opening and kickoff, usually driven by money and injury news; see why betting odds move explained. Moneyline — a bet purely on which side wins, no spread involved; see moneyline, spread and totals explained.
N-R
No action — a bet voided and stakes refunded, typically because of a postponement or a prop's subject not participating. Off the board — a game or market a sportsbook has temporarily removed from betting, often due to an injury news pending confirmation. Parlay — see accumulator above. Point spread — see handicap above. Prop bet — a wager on a specific occurrence within a game rather than the final result, like a player's total points; see player props and prop bets explained. Public money — the side of a bet that the majority of recreational bettors are backing, tracked against sharp money for line-movement signals; see sharp money vs public betting explained. Push — a tie against the spread or total, resulting in stakes being returned rather than a win or loss. Reduced juice — a sportsbook offering standard bets at a lower vig than the industry-typical -110, such as -105; see reduced juice sportsbooks explained. Round robin — a single selection list automatically split into every smaller parlay combination it can generate; see round robin betting explained.
S-Z
Sharp — a bettor whose action sportsbooks treat as informed, since sharp money often triggers real line movement. Spread — see handicap above. Steam — a sudden, coordinated line move across multiple sportsbooks at once, usually following sharp action at a market-setting book. System bet — a wager that splits selections into multiple smaller combination bets, like a Trixie or Yankee, so one wrong pick doesn't void the entire ticket; see system bets explained. Teaser — a multi-leg bet where the spread or total is shifted in the bettor's favor on every leg, in exchange for a smaller payout; see teaser and pleaser bets explained. Total (over/under) — a bet on whether the combined score of both sides will finish above or below a set number; see moneyline, spread and totals explained. Underdog — the side a sportsbook expects to lose, marked with a plus sign in American odds. Unit — a fixed, self-defined stake size (commonly 1-5% of bankroll) used to track betting results consistently regardless of bet size in dollars. Vig (vigorish) — the built-in margin a sportsbook charges on a bet, baked into the odds rather than shown as a separate fee; see bookmaker margin and vig explained.
FAQ
- What's the difference between a spread and a handicap? They're the same concept under two different names. "Spread" is the term used in North American sports betting, while "handicap" is the term used in European and international betting on soccer and other sports.
- What does "vig" mean at a sportsbook? Vig, short for vigorish (also called juice), is the built-in margin a sportsbook charges on a bet. It's baked into the odds rather than shown as a separate line-item fee — a standard -110 line on both sides of a spread includes vig on top of the true 50/50 probability.
- What is closing line value (CLV), and why do sharp bettors track it? CLV compares the odds you actually bet against the final closing odds right before the event starts. Consistently beating the closing line is one of the strongest long-term indicators of betting skill, since the closing line reflects the sharpest, most informed price the market produces.
Related guides
- Moneyline spread and totals explained
- Handicap betting explained
- Bookmaker margin vig explained
- Closing line value explained
