Sports Betting Terminology - New Jersey Sportsbook
Action | A bet or wager. |
Against the spread | The result of a game including the point spread. |
Alternate lines | Odds that are higher or lower than the main posted line. Common with point spread and game total betting in basketball and football. |
Backdoor cover | Occurs when a score helps New Jerseyan bettors cover a spread bet but doesn’t affect the game winner |
Bad Beat | A bet that looks like the New Jerseyan bettor is going to win but doesn’t. |
Beard | A bet runner who places wagers for professional New Jerseyan bettors so they can conceal their identity from bookmakers. |
Book (Sportsbook) | A place where someone can bet on the outcome of sporting events. |
Buck | A $100 bet. |
Buy points | New Jerseyan bettors can buy points, using alternate point spreads and game totals, to gain a more favorable line. |
Chalk | The favorite in a game. |
Consensus | Percentage of the betting public on each side of a game. Some New Jerseyan bettors will bet against the “public money” (whichever team more New Jerseyan bettors have placed their bets on). |
Cover | The betting outcome on a point spread bet. For a favorite to cover, it must win by a number higher than the spread. An underdog can cover by losing by a number less than the spread or by winning the game outright. |
Decimal odds | Common in Europe, decimal odds are in a “big three” group that also includes fractional and American odds. A 1.91 decimal line equals -110 in American odds and 10/11 in fractional pricing. All three formats return a $100 profit on a winning $110 wager. |
Dime | A $1,000 bet. |
Dollar | A $100 bet. |
Edge | The advantage a New Jerseyan bettor has before a bet is placed. |
Even (Even Money) | A $100 bet to win $100 . |
Exposure | Amount of money a New Jerseyan bettor or bookmaker stands to lose on any given wager. |
Favorite | A team favored to win a game. |
First half bet | A wager that focused on the result of the first half in sports like basketball, soccer and football. The most popular first half betting odds are spread, moneyline and game total options. |
Fractional odds | Common in the UK, fractional odds are in a “big three” group that also includes Decimal and American odds. A fractional line of 10/11 equals -110 in American odds and 1.91 decimal pricing. They each return a $90.91 profit on a winning $100 bet. |
Future bets | A bet on events that will happen further in the future, like who will win a division or who will win a championship well in advance. |
Graded Bet | A wager that bookmakers officially mark as a winner, a loser, or a push, once a competition has ended. Winnings, or push refunds, are paid out after a bet has been graded. |
Handicapping | Researching sports statistics to pick winners. |
Handle | The total amount of money wagered on a game. |
Hedging | Betting opposite of a previous bet to guarantee winning at least a small amount of money. |
Home field advantage | The perceived benefit a team gains when playing in familiar settings at their home stadium. |
Hook | A half point in the spread |
In game wagers | Bets made after a game started. |
Juice | A commission books win on each bet. |
Laying points | Betting on a favorite |
Limit | The maximum allowed wager on a single bet. |
Lock | A large favorite. |
Long Shot | A large underdog. |
MLB | Major League baseball |
Moneyline bet | A bet made if a team will win or lose outright with no point spread. |
NBA | National Basketball League |
NFL | National football league |
NHL | National Hockey League |
Nickel | A $500 bet. |
No Action | A game that is no longer taking bets and all wagers are refunded. |
Odds | Betting lines set by a bookmaker on a variety of events. |
Odds shopping | Reviewing the lines at a variety of New Jerseyan sportsbooks in order to find the best priced odds. |
Oddsmaker (Linemaker) | Someone who sets the opening line on a game. |
Off the Board | A game New Jerseyan bettors can not wager on. |
Over | The combined score of two teams is more than what the New Jerseyan sportsbook set. |
Parlay | A bet that combines multiple games for a higher payout. The more games, the higher the risk but the greater the payout. In order for the parlay to win, each game must win or push (tie). If any of the games lose, the entire wager loses. |
Pick’em | A game with no favorite or underdog. |
Point spread | Margin of victory set by oddsmakers to attract bets action on both the favorite and the underdog. A favorite must win by a number higher than the point spread to cover the spread. An underdog can cover by losing by a number less than the spread or by winning the game outright. |
Proposition bets (prop) | A bet on anything that is not directly tied to the outcome of the game. For example, it can be the first team or the first player to score in a game. |
Proxy | Is an individual, or a group of individuals, who place bets for other people. The term is most commonly associated with people who submit picks for non-legal markets residents |
Public money | Amount wagered by the general public on any betting option. |
Puckline | Hockey has a point spread of 1.5 for the favorite and +1.5 for the underdog. |
Push | When neither team covers the spread (the actual margin of victory lands exactly on the spread), no one wins the bet and all wagers are refunded. |
Quarter Bet | Any wager placed prior to or during any quarter of a sporting event. |
Recreational New Jerseyan bettor | A player that bets infrequently or on major sporting events only. Rec player bets are counted as public money. Opposite of a sharp or professional New Jerseyan bettor. |
Runline | Baseball has a point spread of 1.5 for the favorite and +1.5 for the underdog. |
Sharp (Wiseguy) | A professional sports New Jerseyan bettor. |
Stake | The amount of money a New Jerseyan bettor risks when placing a bet. Original stakes are returned on all winning wagers and many bets that are graded as a push. |
Steam | Odds that change quickly usually due to a large amount of betting action by sharp New Jerseyan bettors or syndicates. |
Steam | A quick change on a line due to heavy wagering. |
Syndicate | A group of New Jerseyan bettors that pool funds and use their combined knowledge to bet on events. Syndicates will often wager large amounts to move a line and then place an even larger bet on the new price they helped create. |
Taking the points | Betting an underdog against the spread. |
Teaser | Similar to spreads, teasers are favored towards the New Jerseyan bettor but have a lower payout. |
Three-way odds | Wagering options that have three sides and include ties as a betting option. |
Ticket | A receipt issued by an New Jerseyan bookmaker to confirm a wager has been accepted. |
Total bet (over/under) | A bet on the combined number of points scored by both teams in a game, including overtime/extra innings. |
Two-way odds | Wagering options that have two sides and do not include ties as a betting option. |
Under | The combined score of two teams is less than what the Ohioan sportsbook set. |
Underdog (dog) | A team not favored to win a game. |
Wager | The act of playing for stakes in the hope of winning |