Sports betting has its own language. Here's a complete glossary of the terms you'll encounter.
A-C
Action: A bet that is active or confirmed.
Against the Spread (ATS): The result of a bet considering the point spread — not just who won.
Arbitrage (Arb): Betting both sides of a market at different sportsbooks to guarantee profit.
Bankroll: The total amount of money dedicated to sports betting.
Book / Sportsbook: The operator that accepts and processes bets.
Chalk: The favorite in a game.
CLV (Closing Line Value): The difference between your bet price and the final pre-game price.
Cover: Winning a spread bet (the team covered the spread).
D-J
Dog: Short for underdog.
Edge: Your mathematical advantage on a bet.
Expected Value (EV): The average outcome of a bet over many repetitions. +EV is positive, -EV is negative.
Fade: Bet against a team or outcome.
Handle: The total amount of money wagered on a bet or event.
Handicap: Analyze a game to produce your own projected outcome.
Hold / Margin: The sportsbook's built-in profit percentage.
Juice: Same as vig — the sportsbook's fee on every bet.
K-P
Kelly Criterion: Mathematical formula for optimal bet sizing.
Limit: Maximum allowed bet size on an account or market.
Line: The current odds on a game.
Line Movement: When odds change from their opening price.
Moneyline: A bet on who wins outright (no spread).
No-Vig Odds: Odds with the sportsbook margin removed; pure market probability estimate.
Opening Line: The first odds posted on a game.
Over/Under: See Total.
PK (Pick'em): A game with no spread — just pick who wins.
Point Spread: The handicap given to the favorite to create a more even betting market.
Prop Bet: A bet on a specific event within a game (player stat, game event).
Push: A tie — the game lands exactly on the spread. Stakes returned.
R-Z
Reverse Line Movement (RLM): When a line moves against the public betting percentage.
Sharp: A professional bettor who wins consistently.
Spread: See Point Spread.
Square: A recreational bettor who typically loses.
Steam: Rapid, synchronized sharp line movement.
Teaser: A parlay where you buy points in your favor at reduced odds.
Total: Betting on the combined score in a game (over/under).
Unit: A standardized bet size (typically 1-2% of bankroll).
Vig (Vigorish): The sportsbook's fee on every bet; also called juice.
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