Sports betting is a thrilling and engaging way to add an extra layer of excitement to your favorite sports events. Whether you’re a seasoned bettor or a newcomer, understanding the terminology used in sports betting is crucial for making informed wagers. This guide will introduce you to some common sports betting terms, helping you navigate the world of betting with confidence and clarity.
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Common Sports Betting Terms
Sports betting is a popular pastime. Countless people around the world enjoy sports betting. Not only can it be a fun activity, but there is also the possibility of earning some extra money. Although if you are not familiar with the jargon you may get lost at some point, consulting a sports betting dictionary is the best thing to do.
Sports betting is a form of gambling that involves placing wagers on the outcome of various sports events. Here are some common terms used in sports betting:
Top 10 Sports Betting Terms and Definitions
Sports Betting Terms and Definitions all Should Know
- Point spread: In point spread betting, a team is handicapped by a certain number of points to create a more even betting field. The favorite team has to win by more than the point spread to cover the bet, while the underdog team has to win or lose by less than the point spread to cover the bet.
- Moneyline: Moneyline betting is a type of bet that is based solely on the outcome of a game. A moneyline bet involves betting on a team to win outright, without any point spread involved.
- Total (Over/Under): In a total or over/under bet, the bettor wagers on whether the total points scored in a game will be over or under a specific number set by the sportsbook.
- Parlay: A parlay is a single bet that links together two or more individual wagers for a higher payout. The catch is that all bets in the parlay must win for the bettor to receive a payout.
- Futures: A futures bet is a wager on an event that will take place in the future, such as the winner of a league or championship.
- Vigorish (vig or juice): Vigorish is the commission or fee charged by the sportsbook for taking a bet. It is typically expressed as a percentage of the wager.
- Underdog: The underdog is the team that is expected to lose a game.
- Favorite: The favorite is the team that is expected to win a game.
- Handicapper: A handicapper is a person who studies and analyzes sports events to make betting predictions.
- Push: A push occurs when a game ends with the exact point spread as the original line, resulting in a tie bet and a refund of the wager.
These are just a few of the many terms used in sports betting, but understanding these basic terms is a good starting point for beginners.
But while you are looking for one, in this article we discover the most important terms in sports betting. Within sports betting , there are many important terms and phrases that you would not know about unless you have participated in this activity before. On top of that, there are a number of different bets you can place, each with a different meaning, purpose, and requirement to win. Please read the rest of this page to learn about some of the more common terms you will come across and some of the more commonly used types of bets you can place.
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Types of bets
If you are new to the sports betting scene, you will want to get used to all the different types of betting odds that you will see. Whether you’re looking for NBA odds or odds for any other sport, there are a plethora of different types of betting options. Below we have highlighted the four main types of bets to give you a basic practical guide to help you get started:
favorites vs underdogs
For each game, regardless of the sport, bettors must first decide which team is the favorite and which team is the underdog. Many factors go into the process, and it’s not as simple as favoring the team with the best record. Things like home court advantage, injuries, and public perception can help bettors decide which team is more likely to beat the other on any given day.
El spread
You have two basic ways to bet on a favorite or an underdog, which is known as betting ‘side’. The most popular type of bet is the point spread. The spread is a certain amount of points taken from the favorite and given to the underdog to level the playing field. The difference has nothing to do with which team wins the game; the only thing that matters is the margin of victory.
the money line
Spread is not the only option available to punters who want to bet on either side of a game. The second most popular way to bet is on the money line . The money line is based solely on which team will win the game outright; the margin of victory does not matter. It can be one point or 100 points; the only thing that matters is winning the game.
Because the favorites win most of their games, winning bettors force others to take more risk and pay a higher price when they bet on the favorites.
The total
Betting on favorites and underdogs to win or cover the spread is not the only way to bet on a game. You can also bet on the combined number of points scored by both teams. This is called total betting, popularly known as Over/Under.
Once a total is set by betmakers, bettors can wager on whether the number of points scored will be over or under that total. This is popularly known as betting “Over” or betting “Under”. As with spreads, totals can include not only whole numbers but also half points.
Futures
While money lines, point spreads and totals generally focus on the short term and specific matches, futures are long term betting odds. They focus on events that will happen later, in the future. In this case, you are betting on things like who will win a division or who will win a championship weeks or months in advance.
Learn the language of sports betting
Whether you’re placing bets on the Champion, La Liga or the NBA, punters should know a few basics about how sports betting works, along with the options available. This means learning the basics and understanding some of the language and terminology that bettors use. Let’s look at some of the essential terms from the sports betting glossary.
Betting on totals is a completely different way of betting compared to spreads and money lines. Instead of rooting for one team to win the game or cover the margin, you’re rooting for both teams. If you bet on the Over, you are rooting for both offenses and supporting both teams to score a lot of points. If you bet on the Under, you are cheering for both defenses and supporting both teams to score few points.
FAQs on Sports Betting
What is a Moneyline Bet?
A Moneyline bet is one of the simplest forms of sports betting. It involves betting on which team or individual will win a game or match. Odds are given to each side, with the favorite having lower odds and the underdog having higher odds. For example, if the New York Yankees are -150 favorites against the Boston Red Sox, you would need to bet $150 to win $100 on the Yankees. Conversely, if the Red Sox are +130 underdogs, a $100 bet would win you $130 if they win.
What does “Spread” mean in sports betting?
The spread, also known as the point spread, is a number set by oddsmakers to create a more even betting field between two teams. The favorite must win by more than the spread for a bet on them to be successful, while the underdog can either win outright or lose by less than the spread for a bet on them to pay off. For example, if the spread is -7 for a football game, the favorite must win by more than 7 points, while the underdog must lose by fewer than 7 points or win the game.
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What is an Over/Under Bet?
An Over/Under bet, also known as a totals bet, involves betting on the total number of points, runs, or goals scored in a game by both teams combined. Bettors decide whether the actual total will be over or under a set number determined by the oddsmakers. For instance, if the Over/Under for a basketball game is set at 210 points, you can bet on whether the combined score of both teams will be more than or less than 210 points.
What does “Parlay” mean in sports betting?
A parlay is a single bet that links together two or more individual wagers for a higher payout. To win a parlay, all the bets within it must be successful. This means that while parlays can offer much higher returns compared to individual bets, they are also riskier. For example, you could parlay bets on three different NFL games. If all three of your picks win, you receive a much larger payout than if you had bet on each game separately.
What is a Prop Bet?
A Prop bet, short for proposition bet, is a wager on a specific event within a game that is not directly tied to the final outcome. Prop bets can cover a wide range of occurrences, such as which player will score the first touchdown in a football game, how many strikeouts a pitcher will have in a baseball game, or whether a basketball player will achieve a triple-double. These bets add an extra layer of fun and engagement, focusing on specific elements of the game rather than just the final score.
Conclusion
Understanding sports betting terms is essential for anyone looking to place wagers on their favorite sports. By familiarizing yourself with terms like Moneyline, spread, Over/Under, parlay, and prop bets, you’ll be better equipped to make informed decisions and enjoy the excitement that sports betting has to offer. As you delve deeper into the world of sports betting, this knowledge will serve as a solid foundation for developing more sophisticated betting strategies and enhancing your overall experience.
