Betting Glossary
Sports Betting Glossary
Whether you're brand new to sports betting or a seasoned bettor brushing up on terminology, this glossary covers all the key terms you'll encounter on SharpBetz and across the sports betting landscape. Terms are organized alphabetically for quick reference.
A
Action — A wager of any kind. If you have "action" on a game, it means you have a bet placed on it.
Against the Spread (ATS) — A bet made against the point spread rather than on the moneyline. A team's ATS record reflects how often they cover the spread, not just win outright. Our results page tracks ATS performance across all picks.
B
Bankroll — The total amount of money you have set aside specifically for sports betting. Proper bankroll management means never risking more than a small percentage (typically 1-5%) on any single wager. See our responsible gambling page for guidance on managing your bankroll responsibly.
Book / Bookmaker — A person or organization that accepts and pays out bets on sporting events. Also called a "sportsbook." Examples include DraftKings, FanDuel, and BetMGM.
C
Chalk — The favorite in a game. Betting the chalk means betting on the team expected to win. "Chalk bettors" consistently back favorites.
Closing Line — The final odds or point spread available just before a game starts. The closing line is considered the most accurate reflection of a game's true probability because it incorporates all available information and betting action. Consistently beating the closing line is a hallmark of sharp bettors.
Cover — To win against the point spread. If a team is favored by 7 and wins by 10, they "covered." If an underdog is +7 and loses by only 3, they also covered.
D
Dog / Underdog — The team expected to lose a game. On the point spread, the underdog receives points (e.g., +6.5). On the moneyline, the underdog has positive odds (e.g., +180).
E
Edge — A bettor's advantage over the sportsbook. At SharpBetz, we measure edge as the difference between our model's projected line and the market line. A larger edge indicates a stronger disagreement with the market. Learn more on our How It Works page.
Expected Value (EV) — The average amount a bettor can expect to win or lose per bet over time. Positive EV (+EV) bets are profitable in the long run; negative EV (-EV) bets lose money over time. Finding +EV spots is the foundation of sharp betting.
F
Favorite — The team expected to win a game. On the point spread, the favorite gives points (e.g., -6.5). On the moneyline, the favorite has negative odds (e.g., -220).
Futures — Bets placed on events that will be decided in the future, such as which team will win the national championship, conference title, or a player award like MVP. Futures odds shift throughout the season as team performance changes.
H
Handle — The total amount of money wagered on an event or at a sportsbook over a given period. A high handle on a game indicates significant public betting interest.
Hedge — Placing a bet on the opposite side of an existing wager to guarantee a profit or minimize potential losses, regardless of the outcome. Hedging is common with futures bets as a team approaches a championship.
Hook — A half-point in the point spread. A spread of -7.5 is said to include a hook. The hook eliminates the possibility of a push and can be the difference between a winning and losing ticket.
I
Implied Probability — The likelihood of an outcome as reflected by the odds. For example, -200 moneyline odds imply a 66.7% probability of winning. Comparing implied probability to your own estimated probability is how you identify value bets.
J
Juice / Vigorish (Vig) — The commission charged by the sportsbook on every bet. Standard juice is -110 on each side of a spread bet, meaning you must risk $110 to win $100. The vig is how sportsbooks guarantee a profit regardless of the outcome.
L
Line — The odds or point spread on a game set by the sportsbook. "The line on the game is -6.5" means the favorite is a 6.5-point spread favorite.
Line Movement — A change in the odds or point spread after the opening line is released. Lines move in response to betting action, injury news, weather, or other new information. Tracking line movement can reveal where sharp money is being placed.
Lock — A bet that someone considers a guaranteed winner. In reality, there is no such thing as a lock in sports betting — every game carries risk. Be cautious of anyone selling "locks" or "guaranteed" winners.
M
Moneyline — A bet on which team will win the game outright, with no point spread involved. Odds are expressed as negative numbers for favorites (e.g., -150, meaning risk $150 to win $100) and positive numbers for underdogs (e.g., +130, meaning risk $100 to win $130).
N
No Action — A wager that is canceled and refunded, typically because a game was postponed, canceled, or the conditions of the bet were not met. Your original stake is returned in full.
O
Odds — The numerical expression of the likelihood of an outcome and the payout for a winning bet. Common formats include American (-110), decimal (1.91), and fractional (10/11). Use the odds format toggle on SharpBetz to switch between American and decimal formats.
Over/Under (Totals) — A bet on whether the combined final score of both teams will be over or under a number set by the sportsbook. For example, if the total is set at 145.5, an "over" bet wins if the combined score is 146 or more.
P
Parlay — A single bet that combines two or more individual wagers. All selections must win for the parlay to pay out. Parlays offer higher payouts but are significantly harder to win because the probability of each leg winning multiplies together.
Pick'em — A game where neither team is favored; the point spread is zero. Both teams are considered equally likely to win.
Point Spread — The number of points by which the favorite is expected to win. The favorite "gives" points (-6.5) while the underdog "gets" points (+6.5). To cover the spread, the favorite must win by more than the spread, or the underdog must lose by fewer points than the spread (or win outright).
Public Money — Bets placed by casual, recreational bettors (the "public") as opposed to professional or sharp bettors. Games with heavy public money on one side sometimes present value on the opposite side.
Push — When the result of a game lands exactly on the point spread or total, resulting in a tie. All bets are refunded. For example, if the spread is -7 and the favorite wins by exactly 7, it's a push.
R
ROI (Return on Investment) — The percentage of profit or loss relative to the total amount wagered. An ROI of +5% means you've profited 5 cents for every dollar bet over time. ROI is the most important long-term measure of betting success, more meaningful than win rate alone.
S
Sharp — A professional or highly skilled bettor who consistently finds value and beats the market. Sharp bettors rely on models, data analysis, and disciplined bankroll management rather than gut feelings. SharpBetz aims to deliver sharp-level analysis to everyone.
Side — A bet on one team to cover the point spread. "Taking a side" means betting on either the favorite or the underdog against the spread.
Spread — See Point Spread.
Steam Move — A sudden, dramatic shift in the betting line caused by heavy action from sharp bettors or betting syndicates. Steam moves happen quickly across multiple sportsbooks simultaneously, indicating strong professional conviction on one side of a game.
Straight Bet — A single wager on one game or event, as opposed to a parlay or teaser. Straight bets are the simplest and most common form of sports betting and are recommended for bankroll management.
T
Teaser — A type of parlay where the bettor adjusts the point spread in their favor on two or more games, in exchange for reduced odds. For example, a 6-point teaser would move a -7 spread to -1.
Total — See Over/Under (Totals).
Tout — A person who sells betting picks and predictions, often with exaggerated claims of accuracy. Be wary of touts who guarantee winners, show only selective results, or pressure you to purchase premium packages.
U
Unit — A standardized measure of bet size relative to your bankroll. Most bettors define one unit as 1-2% of their total bankroll. At SharpBetz, our confidence tiers range from 1-unit (lean) to 4-unit (max confidence). Using units helps normalize results across different bankroll sizes.
V
Value — When the odds offered by a sportsbook imply a lower probability than your own estimated probability of an outcome. Finding value is the key to long-term profitability. If you believe a team has a 60% chance to win but the odds imply only 50%, that's a value bet.
Vig — See Juice / Vigorish.