Must-Know Sports Betting Terms for Every Bettor

Sports betting is an exciting pastime for many people, and understanding the terminology is essential to fully enjoy this activity. Here, we’ll explore some common sports betting terms, helping you become a more informed bettor.

Understanding the Odds

  1. Odds: Odds represent the probability of an event occurring in a sports match and the potential payout. They come in various formats, including fractional (5/1), decimal (6.00), and moneyline (+500).
  2. Favourite: The favourite is the team or player expected to win. For example, if a team has odds of -150, they are the favourite. To win $100, you must wager $150.
  3. Underdog: The underdog is the team or player expected to lose. Their odds are positive, like +200. A $100 bet on an underdog with +200 odds could yield a $200 profit.

What are the types of Bets?

Here are the Types of Bets.


The point spread is a margin by which a favourite must win or an underdog can lose to determine a bet’s outcome. For example, if a team has a -5.5 spread, they must win by at least 6 points for their bet to succeed.


This bet focuses on the outright winner, regardless of points or scores. Positive odds represent underdogs, while negative odds represent favourites. A -150 favorite means you need to bet $150 to win $100.

Over/Under (Totals)

In this bet, you predict whether the total points, goals, or runs scored in a game will be over or under a specified number. For instance, if the over/under for a soccer match is 2.5 goals, you bet on whether there will be more (over) or fewer (under) goals in the game.

What are Common Sports Betting Terms?

Here are common Sports Betting Terms:

  1. Bookmaker: Also known as a bookie or sportsbook, this is the entity that accepts and pays out bets. They set odds and handle the betting process.
  2. Juice (Vig or Vigorish): The commission or fee a bookmaker charges for taking bets. It’s typically included in the odds. For example, if the odds are -110, you need to bet $110 to win $100.
  3. Bankroll: Your bankroll is the total amount of money you’ve set aside for betting. Managing your bankroll is crucial for responsible gambling.

Advanced Bets


A parlay bet combines multiple selections into a single wager. All selections must win for you to receive a payout, but the potential reward is higher than individual bets.


Similar to a parlay, a teaser allows you to adjust point spreads or totals in your favour for a smaller payout. It’s a strategy for reducing risk.

Prop Bets (Proposition Bets)

These bets focus on specific events within a game, like which player will score first, the number of fouls in a basketball game, or the duration of the national anthem at a sporting event.


Becoming familiar with these common sports betting terms is a crucial step toward becoming a knowledgeable bettor. As you delve into the world of sports betting, remember to gamble responsibly, stay within your budget, and enjoy the thrill of the game. Best of luck with your future wagers!

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