Sports Betting Terms US: Expert's Sports Betting Glossary November 2025

Knowing the lingo is essential, regardless of your level of experience with sports betting. When words like "spread," "parlay," and "chalk" are frequently used, it might be overwhelming for those who are unfamiliar with the jargon.

For this reason, we have compiled a comprehensive list of words that American sports bettors should be familiar with.

Common Sports Betting Terms Glossary - November 2025

Action

“Action” means a live or confirmed bet. If a game is “getting action,” it means people are placing wagers on it. You might hear someone say, “I’ve got action on the Lakers tonight.”

American Odds

The American odds format uses positive and negative numbers. +200 means $100 wins you $200; −150 means you need to bet $150 to win $100. It’s the most common odds format on US sportsbooks.

Want to know more about prices and odds? Check out our betting odds explained article.

Bad Beat

A bad beat is when a wager looks likely to land, but then loses, often at the last second, disappointing the bettor and resulting in a ‘bad beat’ for them.

Bankroll Management

Bankroll management is a system where players keep track of their wins and losses, pegged to a cash value. This allows bettors to stay on top of their funds and in turn manage their gambling habits in line with this, ensuring all stay safe.

Bet

A bet is any wager on a sporting event. It could be on the match winner, scoreline, or something specific like who scores first in a soccer game. All sportsbook terms start here.

Betting Odds

The odds indicate the potential winnings and the likelihood that a wager will be successful. Underdogs are given a plus (+) in American odds, whereas favorites are given a negative (−). For instance, +300 indicates a $100 wager for a $300 win.

Betting Exchange

A betting exchange is a newer phenomenon in the sports betting landscape, where bettors play against each other instead of the house. Using a series of lay betting, players are connected, and bet against each other.

Bookie/Bookmaker

This is the person or platform that sets the odds and takes your bets. In the US, most legal betting happens through licensed sportsbooks like Caesars Sportsbook or BetMGM, not individual “bookies.”

Cover the Spread

A team “covers the spread” when it wins by more than the set number. For example, if the Knicks are -6 and win by 10, they cover. This is one of the most common betting terms in the US.

Closing Line

The closing line is simply the last price a sportsbook offered on a wager before the sporting game/event/match begins.

Decimal Odds

Decimal odds is a way of pricing up a selection using a decimal number to represent its price. Denoted by decimal numbers like 1.5 or 2.75 or higher. Bettors work out their winnings by multiplying the decimal odds by their stake. That's it. These odds are prevalent in Europe.

Even Money

Even money, often presented as -/+100 just means that the wager will return exactly double what is staked. If a bettor stakes $10 they will win $20 ($10 stake + $10 profit).

Fade

To fade a team means to bet against them. If the public loves one side in an MLS match, you might fade them by backing the other team. It's a popular, sharp, strategy.

Favorite

The team that is expected to emerge victorious. Their odds carry a minus sign (e.g., -150). When playing a bottom-ranked side like Burnley in the Premier League, Manchester City may be the favorite.

Fractional Odds

Fractional odds is the third and final method by which picks are priced by sportsbooks. This one, commonly used in the UK, employs fractions, like 1/4, 7/5 or even 10/1. The bottom number in the fraction tells people how much they need to bet to win the top number.

Moneyline

Moneyline betting is a straight-up wager on the result of the game. You are weighing on the result/outcome of the event. If the Celtics are -200 and you bet $200, you win $100 if they win. It’s the most straightforward sports betting term.

Over/Under (Total)

Over Under betting is based on whether the total score line will exceed or fall short of a predetermined threshold. For instance, betting "over 2.5" on a match-up between Barcelona and Real Madrid indicates that you anticipate a total of three or more goals.

Parlay

A single bet that combines multiple picks. All selections must win for you to get paid. Parlays can combine NFL games or mix basketball and soccer for bigger payouts, but they’re riskier.

Prop Bet

A prop bet is a wager on an event that doesn’t involve the final score. Examples include: Will LeBron James score 30+? Will the first goal be scored in the first 10 minutes?

Spread

A point spread or handicap is placed to balance the odds. If the Oklahoma City Thunder is -4.5 vs. the Denver Nuggets, the Thunder must win by 5 or more to cover the spread. A spread bet on the underdog can bring a return if they lose narrowly or win outright.

Straight Up

A straight-up bet means picking a winner with no spread involved. If you think Inter Miami will win outright, that’s a straight-up play. It’s often used when comparing team records.

Sportsbook

A legal betting site or mobile sports betting app that accepts wagers. Popular US sportsbooks include Fanatics Sportsbook, bet365, and DraftKings Sportsbook. Always use a regulated sportsbook licensed in your state.

Total

Another term for the over/under bet. It is the total number of goals or points anticipated throughout the match. For instance, the Lakers versus. The Suns' total may be 221.5 points.

Underdog

The team expected to lose. They’ll have plus (+) odds. In soccer, a team like Bournemouth might be a +300 underdog against Arsenal, meaning a $100 bet returns $300.

Vig

Also called the “juice,” this is the sportsbook’s cut built into the odds. In essence, the vig is the cost of placing a bet. For example, both sides of a spread might be listed at -110, with that extra $10 per $100 bet being the vig.

Wager

"Wager" is another word for "bet." If you place a $50 wager on the over in an NBA game, you’re betting the total score will be higher than the line. Every sportsbook term begins with this action.

Sports Betting Terms - Football Preview

Football on Thanksgiving is traditional, and even with false reports that Lions rookie Tate Ratledge wanted the day off—the Detroit Lions mark the occasion with their 86th Thanksgiving NFL game.

NFL Thanksgiving Games

The game at a Ford Field begins at 1 pm ET as rivalries in the NFC North intensify, with the Bears, Lions, and Packers all in the race for the division, where Chicago holds current leadership.

Currently, the Packers edge the Lions due to a tie and this game could shift division standings. The significance of leading the division isn't lost on coaches Dan Campbell and Matt LaFleur, both vying for the playoff bye.

Dallas is preparing for their 58th Thanksgiving game, motivated by a win against Philadelphia. The Cowboys host the Kansas City Chiefs, experiencing their worst streak in recent memory.

The Chiefs dynasty, led by Mahomes, Reid, and Kelce, finds itself at a crossroads, standing at 6-5 with a single tight victory. It's an all-or-nothing scenario for them now.

Dallas relies on Prescott’s arm for a competitive edge, but a vulnerable defense poses a challenge in containing Mahomes and potentially letting the Chiefs command the field offensively.

Thursday Night Football

The Cincinnati Bengals take on Baltimore Ravens on Thursday Night Football—initially an exciting prospect—altered by injuries. With Burrow out, Flacco fills in, leaving the Bengals at a disappointing 3-8.

The Ravens have had equal challenges , with Jackson sidelined affecting the record, although they still top the AFC North due to the faltering Steelers and Browns. A win helps maintain their lead, but the Bengals must weigh implications, as any victories affects draft stock.

Sports Betting Terms US – A–Z Glossary

Alternative Line

A different version of the original spread or total with adjusted odds.

Asian Handicap

A type of spread bet used mostly in soccer to eliminate the chance of a draw. For example, betting FC Barcelona -0.5 means they must win outright for you to cash out.

ATS (Against the Spread)

Betting on a team to cover the spread rather than just win. If the Celtics are +6 and lose by 4, they still “cover” ATS.

Backdoor Cover

Occurs when a trailing team scores late in a game and covers the spread, but still loses the game.

Betting Exchange

A platform where users bet against each other instead of a sportsbook.

Cashout

Ending your bet early to lock in a profit or limit a loss.

Chalk

The favorite in a game, often with heavy public support.

Dime

Slang for a $1,000 bet.

Dog

Short for underdog—the team not favored to win.

Draw

When a game ends in a tie, it is common in soccer.

Each-Way

A bet split into two: one on the win, one on a top finish (usually used outside the US).

Edge

An advantage a bettor has over the sportsbook.

Even Money

You win exactly what you wager. Win $100 when you wager $100. This is represented as +100 in American odds.

Exotic Bet

Any wager that isn’t a straight bet on a traditional sport outcome or scoreline, often a prop bet.

First/Last/Anytime Scorer

Proposition wagers on the teams that will score first, last, or at any point throughout a match.

Fractional Odds

Used in the UK and Ireland, shown as 5/1, 2/3, etc.—not common in the US.

Futures Bet

A long-term bet on the result of a season. For instance, placing a preseason wager on the Lakers to win the NBA Finals. Although future chances carry a higher risk, they sometimes provide a larger payoff.

Halftime Bet

A wager placed on just the first or second half of a game.

Handicap

Another word for spread, used to level the field between teams.

Handle

The total amount of money a sportsbook collects in bets. It doesn’t reflect profit—just total betting volume on an event.

Hedge / Hedging Bets

Putting in a second wager to lower risk or get a profit guarantee. You might hedge your Real Madrid futures wager by placing a wager on their opponent to win if they get to the final.

Hit Rate

The percentage of bets a bettor wins over time.

Hook

A half-point added to prevent a push. Using a spread of -3.5 rather than -3 guarantees that one side will win and one will lose. This is known as the hook.

In-Game Wagering

Betting on a game while it's in progress. Also called live betting.

Juice

The sportsbook's cut on a bet is—same as vig.

Laying Points

Backing the favorite and giving points to the other team. It’s done in anticipation that the favorite will win by more than the spread.

Line

The odds or point spread offered for an event.

Live Betting / In-Game Wagering

Betting while the game is being played. In NBA and soccer matches, it's customary to wager on the second-half total or who will score next. The odds change in real time, Borgata having an excellent provision of this.

Lock

Although no wager is ever completely secure, this option seems like a surefire way to win.

MVP

Short for Most Valuable Player, often a futures market in basketball and soccer.

Nickle

Slang for a $500 bet.

Odds Boost

A promotion where sportsbooks offer increased odds on certain bets.

Oddsmaker

A person or algorithm that sets the betting lines and odds.

Odds-On Favorite

A heavy favorite with short odds that suggests a possible winning less than the stake. E.g -100

Off-the-Board

A game or bet is no longer available to wager on.

Outright Betting

Betting on the overall winner of a tournament or league.

Payout

The total return you get if your bet wins.

Pick 'Em

A game where both teams are seen as equal; no spread is involved.

Point Spread (or Spread)

A number set to level the chances of winning between teams in a game.

Price

Another word for odds.

Push

This is what happens when a bet ends in a tie and the stake has to be refunded.

Same-Game Parlay

Create a single parlay by combining many results from the same game. Example: Jayson Tatum scores 25+ points and the Celtics win, with the total exceeding 210.5.

Ticket

The record of your placed bet—digital or printed.

Tipster / Tout

Someone who offers betting advice or sells it, frequently claiming insider knowledge. Mostly lies.

Unit

A way to track betting without disclosing exact amounts. One bettor’s unit might be $10, another’s $100—it depends on their bankroll.

Win Total

A futures wager on a team's season-long winning total. You can wager above or under a victory total of 20.5 for Chelsea in the English Premier League.

Legal US Sports Betting States

Legal US States
Arizona	Arkansas	Colorado	Connecticut
Delaware	Florida	Illinois	Indiana
Iowa	Kansas	Kentucky	Louisiana
Maine	Maryland	Massachusetts	Michigan
Mississippi	Montana	Nebraska	Nevada
New Hampshire	New Jersey	New Mexico	New York
North Carolina	North Dakota	Ohio	Oregon
Pennsylvania	Rhode Island	South Dakota	Tennessee
Vermont	Virginia	Washington	Washington D.C.
West Virginia	Wisconsin	Wyoming
Non-Legal US States
Alabama	Alaska	California	Georgia
Hawaii	Idaho	Minnesota	Missouri
Oklahoma	South Carolina	Texas	Utah

You're prepared to begin now that you are aware of the key words that American sports bettors need to understand. However, confirm if betting is allowed in your state before registering with any sportsbook.

The Professional and Amateur Sports Protection Act (PASPA) was rejected by the Supreme Court in 2018, giving states the authority to determine whether or not to authorize sports betting. Millions of Americans now have access to safe and authorized sportsbooks thanks to the establishment of regulated betting marketplaces in more than 35 states.

While some jurisdictions, like New York and Pennsylvania, permit both online and in-person betting, others restrict participation to sportsbooks or retail casinos. The majority of betting activity occurs on mobile devices; therefore, always make sure your state allows it.

It's essential to place bets with US-licensed sportsbooks. Because state authorities keep an eye on these operations, your money and private information are safe. Although unlicensed or offshore websites could have alluring promos, they lack the same fair chances and legal protections.

The states that have legalized sports betting and those that have not are listed below. Legislation is advancing quickly nationwide, even if your state hasn't implemented it yet.

Reminder: Always use a licensed sportsbook or betting app, and only wager in locations where it is legal.

Conclusion: Make Smart and Informed Bets

Knowing the most crucial sports betting phrases provides you with a distinct edge, whether you're betting on the Premier League, college basketball, or the NBA Finals. When it comes to placing bets, knowing the fundamentals like spread, moneyline, and parlay, as well as more complex sportsbook jargon like "vig," "handle," or "same-game parlay," may make all the difference.

Even if you're just getting started, knowing these betting phrases that sports bettors use daily will help you make better, more confident choices. And there has never been a better moment to participate, since legal betting is now accessible in a large portion of the United States.