Learn · 34 terms
Sports betting glossary.
The terms you’ll see on SlipHound and at sportsbooks, in plain English.
A
- American odds
- The +/− price format used in the US. −150 means risk $150 to win $100; +150 means risk $100 to win $150.
- Against the spread (ATS)
- A team’s result after the point spread is applied. A team “covers” when it beats the spread.
- Arbitrage (arb)
- Betting every outcome at different sportsbooks when their prices disagree enough to lock in a small profit whatever happens. See our arbitrage calculator.
B
- Bankroll
- The money you set aside only for betting. Bet sizes should be a small, fixed share of it.
- Both teams to score (BTTS)
- A soccer bet on whether each team scores at least one goal.
C
- Closing line
- The final odds before a game starts — usually the market’s most accurate price.
- Closing line value (CLV)
- Getting a better price than the closing line. Consistently beating the close is a strong sign of good betting.
- Cover
- Win against the spread.
D
- Decimal odds
- Total return per $1 staked, including the stake. 2.50 means a $1 bet returns $2.50.
E
- Expected value (EV)
- Average profit or loss per bet if you made the same bet many times: (chance of winning × profit) − (chance of losing × stake). Positive EV is what SlipHound looks for.
F
- Favorite
- The side expected to win, shown with negative American odds or giving points on the spread.
- First five innings (F5)
- MLB bets graded on the score after five innings, so the starting pitchers matter most.
- Fractional odds
- UK-style profit ÷ stake. 5/2 means win $5 for every $2 staked.
H
- Handicap
- Another word for a spread, common in soccer (Asian handicap).
- Hit rate
- How often a player has cleared a prop line over recent games.
I
- Implied probability
- The chance of winning that the odds suggest. −150 implies 60%; +150 implies 40%.
J
- Juice / vig
- The sportsbook’s built-in cut. It’s why both sides of a game are often priced at −110 instead of +100.
K
- Kelly criterion
- A formula for sizing bets based on your edge and the odds. Many bettors use a fraction of it to reduce swings.
L
- Line movement
- Changes in odds or spreads before a game, caused by bets, injuries or news.
M
- Moneyline
- A bet on who wins the game outright.
N
- No-vig chance
- The implied chances of both sides with the sportsbook’s cut removed, so they add up to 100%.
O
- Over / under (total)
- A bet on whether the combined score is above or below the sportsbook’s number.
P
- Parlay
- One bet that combines several picks. All must win; the payout grows with each leg — and so does the risk.
- Pick’em (PK)
- A game with no favorite; the spread is zero.
- Player prop
- A bet on a player’s stat, like points, rebounds or passing yards.
- Puck line / run line
- The spread in hockey and baseball, usually 1.5 goals or runs.
- Push
- A tie against the line. The stake is returned.
R
- Return (ROI)
- Profit divided by the total amount staked.
S
- Sharp
- A bettor (or money) with a track record of beating the market.
- Spread
- Points given to the underdog (or taken from the favorite) to even out a game. A −6.5 favorite must win by 7 or more.
T
- Team total
- An over/under on one team’s score.
U
- Underdog
- The side expected to lose, shown with positive American odds or getting points.
- Unit
- A standard bet size, often 1% of a bankroll. Results in units let people compare records regardless of bet size.
V
- Value bet
- A bet where your estimated chance of winning is higher than the chance implied by the odds — positive EV.