Want to sound like a pro when you're betting? Impress your friends by learning some Sports Betting Terminology.
Action
Term for the amount of bets placed on a game or sporting event. It can also refer to how bets are settled. For example, 'all action' means every bet will be settled, regardless of outcome.
American Odds
American Odds reveal the amount you must wager or can win on any selection based on $100 increments. If the odds offered on a particular selection are -110, that means in order to (profit) $100, you would need to bet $110. If the odds are +110, it means if you wagered $100 you would profit $110. With American odds, the wagered amount is added to the payout after the initial calculation.
ATS
ATS stands for Against The Spread, is a term used for the result of an event when it takes the Point Spread into account.
Backdoor Cover
The act of covering the Point Spread with late 'meaningless' points being scored.
Bad Beat
A tough loss on a bet that appeared to be won before a turnaround in a game or contest.
Bet Slip
The Bet Slip is the 'cart' of a Sportsbook. The Bet Slip is an area containing selected picks and where you enter your wager amount(s) before confirming your bet(s).
Bet Receipt
A bet receipt is the confirmed 'ticket' of a placed bet. Each bet receipt will provide confirmation of selections, odds, results, and a unique identifier to help distinguish one bet vs another.
Book
Book is short for 'Sportsbook'. A Sportsbook is an establishment that accepts wagers on sporting events.
Buying Points
When a bettor takes a different price (odds) in order to get a different line (spread or total) on a game.
Cash Out
The Cash Out feature gives you the opportunity to cash out a bet before the outcome is decided, allowing you to secure part of your winnings or to cut your losses.
Chalk
The favored team or athlete, also known as the favorite.
Correct Score
A bet placed on the exact score of a match or event at full or part time.
Cover
The act of winning by enough to beat the Point Spread. When this occurs, the team 'covers the spread'.
Decimal Odds
Decimal odds are odds of an outcome expressed as a decimal number. Total odds are determined by multiplying the odds of each selection by the wager amount, to calculate the potential return to player. Example: Using decimal odds for a 2 selection parlay with odds of 1.50 for one selection, and 3.00 for another selection, with a wager of $10; the return would be $45 ($35 profit with the $10 included in the return).
Dead Heat
Dead Heat is when two or more participants finish with the same results. In this instance the bet is settled under 'Dead Heat Reduction Rules' for that event. Check out our House Rules for more information on our Dead Heat Rules.
Dead Heat Reduction Rules
A 'Dead Heat Reduction' is calculated by dividing the wager amount proportionally between the number of winners in the event. For example, in a two-way tie aka 'Dead Heat', your return would be half of what was originally projected in the Bet Slip at the time of placement. Check out our House Rules for more information on our Dead Heat Rules.
Dog
Dog is the team expected to lose, also known as Underdog.
Double Chance
'Double Chance' is where it is possible to bet simultaneously on two outcomes of a match or event when 3 outcomes are possible. The options are: Home/Draw, Home/Away, and Draw/Away.
Double Result (Half Time/Full Time)
'Half time/Full time' odds allow for you to bet on the results in half time and the final outcome of an event. For example, if at half time the score is 45-45 and the match ends 103-101, the winning outcome is Tie / Away Team (the team scoring 103). The bet is void if the regular time of the match is played in a different time format than those listed in the bet (i.e. other than two halves). For Baseball, half time is defined as the first 5 innings of a game. Similarly, Period Betting for hockey is available (i.e. 1st Period Result and 60 Minute Result).
Even Money
Even Money is a bet that returns as much profit as the initial wager was. For example, a bet of $100 with a $200 return ($100 profit). These are listed as odds of +100 (American) or 2.00 (Decimal).
Favorite
The favored team or athlete, the team expected to win.
Forecast
A forecast wager is a bet on two or more selections to finish in a particular order. For example, a Forecast wager on the US Open Golf tournament would be if you select Rory McIlroy to win, Tiger Woods to come second and Dustin Johnson to finish third.
Futures
Futures are odds available for events in the future, where multiple events may take place to determine the outcome. Futures are offered well in advance of any season or tournament and are continually adjusted as the events unfold.
Grand Salami
'Grand Salami' is where it is possible to bet on the total number of listed occurrences, such as total run or total goals, happening in a collection of events on a specified day. All relative events must be completed for bets to stand except for those outcomes which have been decided prior to the abandonment and could not possibly be changed regardless of future events. These will be settled according to the decided outcome.
Hedging
The act of betting on the opposite side of a current wager in order to minimize losses or guarantee a small profit.
Laying the Points
The act of betting on the point spread on the side of the favored team.
Lines
Another word used to describe the Point Spread, Total, or Money Line.
Listed Pitchers
When pitchers for a baseball bet must start for the bet to action. When 'Listed Pitchers' accompanies a baseball bet, bets will be void/cancelled should one or both of those pitchers not start.
Live Betting
Betting while the action is unfolding Live.
Lock
The favored team or athlete that is considered a guarantee to win.
Long Shot
The underdog team or athlete that is considered very unlikely to win.
Money Line
The Money Line is simply the odds for 'Who will win?'
No Action
A wager that is cancelled/void with money refunded to users.
Odds
The number that expresses the probability of an event to occur, also referred to as the outcomes 'Price'. This value is used to calculate the potential return on a wager.
Off the Board (OTB)
A game that is scheduled, but without odds due to various circumstances.
Over/Unders
Over/Unders are odds that are available for many statistical categories, including the Final Score, Individual Team Score, or any Player Stats. Outcomes are listed as either 'Over' or 'Under' the stat.
Parlay Bets
A 'Parlay' bet is a bet placed on multiple outcomes all to occur. For a Parlay bet to win, all outcomes within the Parlay must be selected correctly. The odds for each pick are multiplied by one another to determine the odds for the Parlay. For example, New England at -190 odds, parlayed with New York at +145 odds, would result in +275 odds.
Pick'Em
A 'Pick'Em' is a betting offer in which there is no favorite or underdog. This can occur on Point Spread bets where the line is set at 0 points (so the winner of the game wins the Point Spread).
Point Spread
Point Spread odds are when each outcome has a + or a - handicap applied to it. This handicap is often called the 'line'. On a 'line' of 3.5, one team will have 3.5 points added to their score, one team will have 3.5 points subtracted from their score. The winner of the Point Spread is the team who 'covers' the Spread based on the line and the final score.
Potential Win
Potential Win is the amount that would be returned to you on a placed wager, prior to settlement or results being known. The potential win is determined based on the odds of the selections, the bet type and the wagered amount.
Profit Boost
A Profit Boost is a 'token' that can be used to 'boost' the odds of a specified selection, based on promotional qualification and conditions.
Prop Bets
Prop Bets come in many forms and can be related to specific outcomes in a game (Game Props) or player performance (Player Props).
Puck Line
A Point Spread for hockey listed with a line of 1.5 goals either side and the associated odds between the favorite and the underdog.
Push
When an odd results in neither outcome being correct and bets are returned/refunded.
Example: You place a wager on Philadelphia to win by 6 or more (Philadelphia -6). If Philadelphia wins by exactly 6 points, this bet would settle as a 'Push' and the money would be returned to the bettor.
Related Contingencies
Related contingencies are picks or selections that cannot be combined due to a correlation between them. Where there are related contingencies, betPARX takes efforts to offer those selections as a combined offer at appropriate odds based on their correlation (i.e. Money Line/Total Points Double odds).
Return
Return is the amount that is returned to you on a placed wager following settlement and results being known. The return is determined based on the odds of the selections, the bet type and the wagered amount.
Reverse Forecast
A reverse forecast is two bets on two selections to finish first and second in any order.
Run Line
A Point Spread for baseball listed with a line of 1.5 runs either side and the associated odds between the favorite and the underdog.
Selection (Pick)
An outcome selected for betting, with associated odds. A selection can be added to the Bet Slip for wagering purposes.
Singles Bets
A 'single' bet is simply a bet placed on one specific outcome to occur. You can place multiple 'Singles' bets at a time. Each bet placed is contingent only on the individual outcome bet on. Also known as a 'Straight' bet.
Sports Bonus Bet
A Sports Bonus Bet is a 'token' that is able to be used in place of real money for wagering on the betPARX Sportsbook platform. Click here for more information on Sports Bonus Bets.
Spread
Short form for Point Spread.
Steam
When there is an influx in wagers on a Point Spread or Title which results in the line being adjusted.
Taking the Points
Betting on the underdog to cover a Point Spread by receiving Points against the spread.
Teaser
A parlay placed on multiple Point Spreads or Totals where the line is bought or 'teased' down in exchange for a lower payout.
Tri-Bet/Win-Draw-Win
A bet requiring the prediction of one of three possible outcomes of a sports event. For sports where a tie is possible at the end of regulation, that is the 'draw' selection. For sports where there is no possibility of a real life tie, a 'line' is set where any result either way within a particular win margin is deemed a 'tie'.
Underdog
The team or outcome expected to lose. Known as the 'Dog' for short.
Void
When an odd results in neither outcome being correct and bets are returned/refunded.
Wager
The money amount of your bet placed also known as the stake. The wagered amount along with the odds selected, make up the placed bet.
Win/Place
A 'Win/Place' or 'Each Way' bet (aka EW) refers to a bet where the chosen selection must either Win or else Place within the payout terms. The bet is divided in two parts (the 'Win' part and the 'Place' part) of an equal stake or wager. Settlement of such bets will take into account the applicable rules governing the 'Win' and 'Place' bets, namely the Sport-specific rules as well as any applicable ‘Dead Heat Reductions’.