If you are new to sports betting, you might encounter some words and phrases you have never heard before. Or even if you have heard them, chances are that you are not sure what these terms mean. Even if you find it a little intimidating, don’t worry!
You can get familiar with the most commonly used sports betting slang terms in a relatively short time. Today, we will help you master the basics of the sports betting lingo as we will explain the meaning of 20 sports betting slang terms.
Action is an often-used word in the online gambling industry. Basically, it can be considered as another term for a bet.
An also-ran is a contestant (depending on the sporting event, it can be an athlete, a car, or even a horse) who failed to win the race or couldn’t place among the first 3 finishers.
3. Bad Beat
We are talking about a bad beat when a bettor loses their bet even though they had a relatively high likelihood to win. Usually, this happens when an unexpected event occurs late in the game and this particular event causes the person to lose their bet. For example, an unexpected happening can be a last-minute goal in soccer.
4. Bet shop
Bet shop is a common term used mostly in the UK. It means bookmaker or sportsbook.
5. Betting the Limit
Typically, a minimum and maximum limit are set by bookmakers regarding how much money bettors can wager on a sports event. When you are betting the limit, you are wagering the maximum amount that the sportsbook allows.
6. Chalk/Chalk Bettor
Chalk is a word you will hear very often when betting on sports events regularly. This word refers to that player or team that is favored in the matchup. If you usually end up betting on the favorite and not the underdog, then you are a so-called chalk bettor.
7. Closing Line
The closing line is the final betting line or odds offered by sportsbooks before the sporting event begins.
8. Dog/Dog Player
The dog is the shorter form of the underdog. It means the player or team that is expected to lose in a matchup. Additionally, a dog player is a bettor who usually bets on the dog.
9. Even money
We call even money those bets where there is about a 50% chance of winning and the payout matches the size of the bet. This means that if you bet $100, you can have a $100 profit.
10. Futures bet
A futures bet refers to a wager that is usually made on the outcome of a sporting event at the beginning of the season. For example, you can make a futures bet on the winner of the Super Bowl well before the season begins.
Hedging is a process where you place a second bet against your original bet to ensure yourself a profit or minimize the risk on your original wager.
12. In-Game Wagering
Another term for live betting. When a sportsbook provides the possibility of in-game wagering, you can place your bets in real-time during the sports event.
The juice is the commission on bets that a sportsbook charges.
When you are betting the moneyline, it means that you wager on the straight-up winner of the event.
15. Off the Board
The term “off the board” is used for those bets that have been removed from the betting board. Typically, this happens when due to some special circumstances, such as inclement weather conditions or an injury, the sportsbook’s risk becomes untenable.
A common bet type that refers to wagering on how many points both teams will score during the game in total. When the sportsbook sets the line, you can decide whether the total score will be higher or lower than that.
A parlay wager is also known as an accumulator, a multi-wager, or a combo bet. These special bets combine two or more different wagers into a single bet. With a parlay wager, you can significantly increase the amount of your potential payout. However, for a parlay bet to win, all the individual wagers must win.
18. Points total
The points total is the combined points scored by both teams at the end of the game. Bettors use the points total to place over/under bets.
19. Proposition Bet
A proposition bet is a special type of bet that considers the specific aspects of the game (except the winner of the matchup). For example, a proposition bet can concern player performance, some statistical milestones, or other game-related factors.
Push is another commonly used term for a tie between the punter and the sportsbook.
There you have it! This was our list of the most commonly used sports betting slang terms. Hopefully, when next time you hear these phrases, you will know exactly what they mean.
If you feel you are ready to get started with sports betting, you can always try your luck with Karamba. We wish you the best of luck!