A sports betting glossary is an essential tool. No matter whether you’re a veteran or a beginner, it’s important to grasp the terminologies commonly utilized in the world of sports betting.
This complete glossary will help get you rid of the mystery around common betting terms so that you can navigate the domain of sports betting like a pro.
Sports Betting Glossary
1. Accumulator (or Parlay)
It is a bet that combines multiple selections into one wager, where all of them are required to win in order for the single bet to pay out.
Your bankroll is the sum of money you have at hand for wagering. It is the total amount of disposable income you have available to fund your bets.
3. Bookmaker (or Bookie/ Sportsbook)
It is a company or site that takes bets on sporting events. It’s the platform where you deposit your money and subsequently place bets on the events offered with different odds and stakes.
Odds refer to the likelihood of an event happening, given in fractional form. Lesser odds mean greater probability. It helps a punter make an informed decision regarding whether they should place a bet or not.
The bet that equals the probability of winning for both teams or players corresponding to a particular sports event is known as Handicap.
6. Point Spread (or Spread)
It is a kind of betting handicap that is added to the favorite to level the betting. You can wager on the favorite to win by the spread or fewer points.
It is a bet that wagers on a team to win the game without any point spread. Here, the underdog is designated with a positive odd, while the favorite is designated with a negative odd.
8. Over/Under (or Total)
It refers to betting on whether the total points scored in a game will be higher (over) or lower (under) than a set number.
9. Vigorish (or Vig/ Juice)
The charge or commission the bookmaker takes on a bet is called Vigorish, Vig, or Juice. It’s designed into the odds to ensure the bookie makes a profit out of the sum you are using to place a bet.
10. Favorite and Underdog
The team or outcome more likely to win is called the favorite, while the one less likely to win is known as the underdog.
Handle refers to the aggregated sum wagered on a single event or over time.