80 terms
Sports Betting Glossary A–Z
Every sports-betting term you'll encounter at a Pennsylvania sportsbook, defined plainly. Use the alphabet jump menu or your browser's find-in-page (Ctrl/Cmd+F).
This glossary covers terminology specific to Pennsylvania sports betting plus universal industry vocabulary used at all PA-licensed sportsbooks. PA-specific terms (PGCB, geolocation rules, college player-prop prohibition) are noted where relevant.
For a guided walkthrough of the most common bet types, see our how-to-bet pillar. For PA legal framework, see our PA betting laws guide.
A
- Action
- Any wager placed on a sporting event.
- Alternate Line
- A non-standard spread or total offered at adjusted odds.
- American Odds
- The default US odds format using +/− numbers around 100.
- Arbitrage
- Betting both sides of a market across different books to lock in profit.
- ATS
- Against the spread — a team's record against the point spread.
B
- Backdoor Cover
- Late-game scoring that covers a spread without affecting the outright winner.
- Bad Beat
- A bet that loses in unlikely or unusual fashion late in the event.
- Bankroll
- Total funds set aside for betting.
- Beard
- A third party placing a bet on someone else's behalf to disguise the real bettor.
- Boost (Odds Boost)
- Sportsbook-applied price enhancement on a specific market.
- Bonus Bet
- Promotional credit that can be wagered but not directly withdrawn.
- Buying Points
- Paying extra juice to move a spread or total in your favor.
C
- Cash Out
- Settling an open bet early at a sportsbook-offered price.
- Chalk
- The favorite in a betting market.
- Closing Line
- The final odds offered before the event begins.
- CLV
- Closing line value — beating the closing line, a key sharp metric.
- Correlated Parlay
- Multi-leg parlay where outcomes are statistically linked.
- Cover
- A team beating the point spread.
D
- Dime
- A $1,000 bet.
- Dog (Underdog)
- The team or athlete expected to lose, priced with a + number.
- Double Chance (Soccer)
- A 1X2 bet covering two of the three possible outcomes.
E
- Edge
- A perceived advantage over the sportsbook's implied probability.
- EV (Expected Value)
- The average outcome of a bet over many trials.
- Exotic Bet
- Any non-standard wager type (parlays, props, futures, teasers).
- Even Money
- Odds of +100 — bet $100 to win $100.
F
- Favorite
- The team or athlete expected to win, priced with a − number.
- First Five Innings (F5)
- MLB market settled after the top of the 5th inning.
- Futures
- A long-term wager on a championship, award, or season-long outcome.
G
- Geolocation
- GPS/network technology that confirms the bettor is physically inside PA.
- Grand Salami
- A combined-runs/goals total across all games on a slate (NHL/MLB).
H
- Half Time / Full Time
- A bet on both the half-time and full-time results.
- Handicap
- Synonym for spread or line.
- Handle
- Total amount wagered at a sportsbook over a period.
- Hedge
- A second bet placed to reduce or lock in profit on an open ticket.
- Hold
- Sportsbook profit margin on a market.
- Hook
- The half-point on a spread or total (e.g., −3.5).
I
- In-Play / Live Betting
- Wagers placed after the event has begun.
J
- Juice (Vig)
- Sportsbook commission built into odds.
K
- Kelly Criterion
- A bet-sizing formula based on edge and odds.
- KYC
- Know Your Customer — identity verification at signup.
L
- Limit
- Maximum stake a sportsbook accepts on a market.
- Line Movement
- Changes to a spread, total, or moneyline before the event.
- Live Streaming
- Watching the event inside the sportsbook app.
- Lock
- A bet a tipster claims is a sure winner. (No bet is ever truly a lock.)
- Long Shot
- A bet with very low implied probability and high payout.
M
- Middle
- Hitting both sides of a spread when the line moves in your favor.
- Moneyline
- Bet on the outright winner; no spread.
N
- No Action
- A bet voided due to canceled, postponed, or unqualified events.
O
- Off the Board (OTB)
- A market the sportsbook has temporarily removed.
- Over/Under
- Bet on whether the combined total will exceed a posted number.
P
- Parlay
- Multi-leg bet that requires every leg to win.
- Payout
- Total return from a winning bet (stake + profit).
- PGCB
- Pennsylvania Gaming Control Board — the state regulator.
- Pick (Pick 'em)
- A market with no favorite (priced near +100/+100).
- Point Spread
- A handicap on the favorite to even out betting action.
- Power Rating
- A bettor's internal team-strength rating used to set value lines.
- Prop Bet
- A wager on a specific in-game event or stat (player or game prop).
- Public Money
- Wagering activity from recreational bettors.
- Puck Line
- NHL spread, almost always ±1.5.
- Push
- A tie against the spread or total — stake is refunded.
R
- Round Robin
- A series of smaller parlays generated from a list of selections.
- Run Line
- MLB spread, almost always ±1.5.
S
- SGP (Same Game Parlay)
- Parlay built from multiple legs in one event.
- Sharp
- A professional or highly skilled bettor.
- Spread
- See Point Spread.
- Square
- A casual or unsophisticated bettor.
- Steam
- Rapid line movement caused by sharp money.
- Sucker Bet
- A market with poor expected value.
T
- Teaser
- A parlay-like bet where each leg's spread is moved in the bettor's favor at lower odds.
- Total
- The combined points/runs/goals scored by both teams.
U
- Underdog
- See Dog.
- Unit
- A standardized bet size (typically 1% of bankroll).
V
- Voided Bet
- A bet refunded due to event change (postponement, lineup change, etc.).
W
- Wager
- A bet.
- Welcome Offer
- A first-time-deposit promotion offered to new sportsbook customers.
- Wise Guy
- A sharp bettor.
- W-2G
- IRS form issued by sportsbooks for qualifying gambling winnings.
X
- X (Soccer Draw)
- The draw outcome in a 1X2 soccer market.
Y
- Yards Allowed (Defensive Prop)
- A prop on team defensive yardage.
Z
- Zig-Zag Theory
- NBA playoff bias toward the team that lost the prior game in a series.