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    09/07/2011 9:56 PM
  • Last Update:
    05/09/2024 7:02 PM

Ultimate Sports Betting 101 Glossary Terms: Terms Master the Art of Betting

Sports Betting Glossary Alphabetized

  • Betting Units: A measure of betting size that varies per customer, typically used as a standard when placing bets. Monitoring wins and losses by units is crucial for effective bankroll management and achieving long-term betting success.
  • Buying Points: This strategy allows bettors to shift the point spread in their favor, albeit at the cost of reduced odds or a lower payout. For instance, a bettor could adjust the spread from Minnesota Vikings +4 against the Detroit Lions to +6, +6.5, or +7.
  • Buying 'The Hook': A specific form of buying points where the half-point is added to a point spread or total, helping it reach or exceed a key number. For example, changing a football game spread from -3.5 to -3.
  • Futures Betting: Wagers placed on outcomes that will be decided in the future, such as division winners, championship victories, or season-long awards like MVP. These can occur before or during the season.
  • Hedging A Bet: Placing a wager opposite to an original bet to ensure a guaranteed, albeit smaller, profit.
  • Key Numbers: Frequently occurring final scores in a sport that significantly impact betting outcomes. In football, common key numbers are 3, 7, and 10, whereas in basketball they include 3, 7, and 9.
  • Money Line: A bet type where the customer simply picks the outright winner of a game, without any point spread involved.
  • Over/Under: Also known as totals betting, it involves predicting whether the total points in a game will be over or under a set number by the bookmaker.
  • Parlay: A combined bet linking multiple wagers; if all selections win, the payout is larger, but risk is also increased.
  • Point Spread: The margin of points by which the favored team is expected to win over the underdog.
  • Prop Bet: Wagers made on specific game scenarios or performances, such as individual player statistics, which are not directly tied to the game's final outcome.
  • Pushing A Wager: Occurs when a bet is tied, resulting in no action; the stake is returned to the bettor as neither side wins or loses.
  • Same Game Parlay: A bet that combines multiple outcomes from the same game into a single wager, such as the winner, total points, and individual performances.
  • Teaser: A type of bet where the bettor adjusts the point spread or total line in their favor across multiple games, combining them into one wager.
  • Three-Way Lines: Betting lines offered in sports like soccer and hockey, where three potential outcomes include either team winning or a tie.
  • Two-Way Lines: Odds used in sports with two possible outcomes (win/loss), expressed in positive or negative numbers to indicate underdogs and favorites respectively.
  • Vig/Juice: The fee or commission charged by a sportsbook to place a bet, typically -110 on point spread and totals betting.

This glossary provides a structured overview of key terms in sports betting, catering to beginners and helping them navigate the complexities of wagering effectively.

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