Glossary

Action
A bettor who has placed a bet is said to have "action". Slang term for bet.
American Odds
The price is given in the form +600, +800, etc.
Bet
A pledge of money that a certain event will occur.
Bettor
One who bets.
Book
The record of all bets wagered on a particular event.
Chalk
Slang for Favourite.
Decimal Odds
The price is given in the form 6.00, 8.00, etc.
Event
Any happening, either in sports or in reality, on which people can bet.
Favorite
The team or person more likely to win a particular event.
Fractional Odds
The price is given in the form 6/1, 8/1, etc.
Futures Bet
A futures bet is a bet in an event where there are many competitors, such as a golf tournament or horse race, and is often made considerably before the event takes place – a bet placed on who’ll win the Super Bowl in January that’s placed in September, for instance.
Futures Betting
Betting on who will win a particular event, be it the Super Bowl, the US Masters or the Daytona 500.
Grand Salami
A Hockey totals bet where players bet on the number of goals scored on a particular day.
Line
See Pointspread.
Odds
The price a sportsbook offers on the occurrence of a particular event.
Online Sports book
A licensed and regulated operator that offers prices on given events occurring and other betting related services online
Online Sports betting
Sports betting which is facilitated in an online sportsbook
Outright Betting
See Futures Betting.
Outsider
See Underdog.
Placing a Bet
The act of pledging money that a certain event will occur.
Player
Bettor; one who bets.
Pointspread
The amount of points an underdog team is given at the start of a game to even the betting and make it more interesting. The underdog must win or not lose by more than the spread for a bet on the underdog to win. The favorite must win by more than the spread for bets on the favourite to win.
Puckline
Hockey’s version of the pointspread.
Punter
British slang for bettor.
Push
A push occurs when an event finishes on the spread. All wagers are voided and the stakes are returned.
Return
The bettor’s stake, multiplied by the offered price, gives the return. A $10 bet on an event priced at 4.00 returns $40.
Runline
Baseball’s version of the pointspread.
Sportsbook
A licensed and regulated operator that offers prices on given events occurring.
Spread
See Pointspread.
Stake
The amount of the bet.
Teaser Bet
A pointspread bet where the pointspread has been adjusted or "teased" to give the bettor a greater chance of winning.
Totals Bet
A bet placed on the total points scored by both teams in a particular game.
Underdog
The team or person less likely to win a particular event.
Vig, Vigorish
A sportsbook’s commission, or profit margin, for making a book.
Wager
See Bet.
Winning Margin Wager
When a bettor bets on the moneyline, he or she is betting on the result of a game. They are betting on who will win a game, irrespective of the spread. Example: Green Bay Packers + 130 and New York Giants -145. In the above example, the minus (-) sign in front of the price means that the New York Giants are the favorites. The -145 means that the bettor will win $100 for every $145 bet. If the Giants win the game, a bettor with a $10 bet gets a return of $16.90 – the original $10 stake, and $6.90 profit.