Sports Gambling Terms

• Sports Betting Terms And Phrases
• Sports Gambling Terms
• Betting Odds Terminology
• Sports Betting Terms And Definitions

One of the two major tribal entities in Connecticut reached an agreement with the state government regarding legal sports betting in the state.

Unit/s: Amount bet on a game. Win Totals: A future wager that allows bettors to handicap the number of victories and losses of a team during the course of a regular season. Underdog: The team in a sports betting matchup that is not expected to win. Phrases and terms connected with gambling.There is more gambling terminology in the other subcategories of Category:Gambling. This category has the following 4. Betting on Sports Terms Take a look at some of the common gambling terms and related terms that are used for sports betting in the USA below: Accumulator – Multiple wagers. For the bettor to win, all outcomes chosen should correspond with the best result. The act of placing a bet or having an active wager on a sporting event. “I have action on. Sports Betting terms can be confusing on your first sportsbook visit. Learn the meaning to many common sports betting terms you will find at sports books.

According to a report from the CT Post, Gov. Ned Lamont and the Mohegan Tribal Nation, owner of the Mohegan Sun casino in southeastern Connecticut, have agreed to terms on legalizing sports betting. The other major tribe, the Mashantucket Pequot Tribe, owner of Foxwoods, have not agreed to anything as of yet.

For the last two years, Lamont was in negotiations with both tribes over terms of a sports betting agreement. Under the current gaming compact with the state, the tribes have exclusivity on all casino gaming. The debate between the government and tribes is centered around whether sports betting falls under that category.

The Mohegan Tribe agreed to let the Connecticut Lottery run sports betting operations in other parts of the state, paving the way for a deal to be made.

Under the agreement, the Connecticut Lottery will be able to operate up to 15 retail sportsbooks and provide online betting as well. The first two will be located in Hartford and Bridgeport, which are both located at least an hour away from Mohegan’s casinos.

The Mohegan Tribe will be allowed to operate both retail and online sportsbooks as well and have been positioned to do so for a while. In 2019, the tribe entered into an agreement with Kambi Group, a Malta-based sports betting company, which will run the tribe’s online sportsbook when it launches.

The deal will tax new online gambling revenue at 20 percent and take 13.75 percent on any sports betting revenue. It seems likely that more online gambling will be allowed in the near future considering that Lamont allotted tax revenue from online gambling in his recent budget proposal.

Paul Mounds, Lamont’s chief of staff, told the CT Post that even though the Mashantucket Pequot Tribe didn’t agree to anything yet, they were very close to a deal.

There was no announcement on a start date for sports betting. Lamont’s budget proposal that included online gaming and sports betting, however, doesn’t start until July 1, 2023.

Here is a list of common sports betting terms that can help you understand the industry better, be a better sports bettor, and just generally feel more comfortable when discussing the subject.

Sports betting is growing by the day, especially in the United States where it’s becoming legal in more and more states. As the industry continues to grow, so does its popularity, but no one wants to be left feeling like they’re on the outside, right? Review these sports betting terms so you know what you’re talking about and can understand industry jargon.

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Action: A wager or bet of any kind.

Against the Spread (ATS): Taking action on one side of a point spread, but either taking points or laying points.

Backdoor Cover: When a side of a bet scores points late in a competition to cover the point spread.

Bad Beat: When you lose a wager you believe you should have won, you often refer to it as a “bad beat.” Oftentimes, a bad beat occurs when your side was expected to win the contest but ultimately lost.

Bankroll: The funds you have available to wager with.

Betting Line (or Line): The betting odds or point spread.

Bookmaker: A creator of betting lines and odds, often at a sportsbook.

Bookie: A person who accepts wagers.

Book: As a noun, “book” is short for “sportsbook – an establishment that accepts wagers. As a verb, to book means to place or accept a wager.

Buying Points: When a sports bettor pays an additional price to alter the betting line and adjust the odds, it is called “buying points.”

Chalk: Another term for the favorite or side of a bet that the public is favoring.

Circle Game: A game or competition with restricted (lower) betting limits.

Closing Line (or Close): The final point spread or betting line before a game or competition begins.

Consensus: The volume of bets that the public is on for a side of a game or competition, often listed as a percentage.

Contrarian: Going against the grain of public sentiment, a pick made that is opposite of the majority opinion.

Cover: Beating the point spread. When a side beats the point spread, it has “covered” the bet.

Dime: Slang for a one-thousand dollar ($1,000) wager.

Dog: Short for “underdog,” it is the side of a bet that is not favored.

Edge: An advantage.

Even Money: When the odds of a bet are the same as the wager, 1-to-1, and there is no vigorish (vig).

Exotic: A wager other than a straight bet or parlay, often called a “proposition bet” or “prop.”

Sports Betting Terms And Phrases

Favorite: The side of a bet that is the likely winning side.

Futures Bet (or Future): A wager on a future sporting event. Most commonly, it is a bet placed on the outcome of an event in the current or upcoming season, such as placing a wager before the season or early on in the season for which team will win the Super Bowl in the NFL.

Grand Salami: An over/under total on the combined NHL goals for an entire day of games.

Handicapper: A person who tries to predict the odds and outcomes of an event.

Handle: The amount of money taken by a sportsbook or sports betting operator. Handle can be broken down per event, series of events, a specific time period, or in total.

Hedge: To place a bet opposing a wager you already have in place so that you are lowering your exposure or risk.

Hook: In point-spread betting, the hook is the extra half point attached to the spread, very commonly seen in football betting.

In-Play Betting: Another term for live betting, in-play betting is wagering that takes place while a game or event is running. Due to the fluid nature of the game or event, in-play betting lines adjust on the fly.

Juice: Another term for the “vig” or “rake,” which is the money a sportsbook or sports betting operator takes on a wager.

Key Number: A common point differential when it comes to scoring margins. Key numbers are most commonly referenced in football betting in regards to multiples of three or seven.

Laying Points: When a bettor is giving points to the other side. Betting the favorite.

Limit: The most amount of money a sportsbook or sports betting operator will take as a wager on an event.

Sports Gambling Terms

Lock: A term used to describe when a bettor views a pick as a guaranteed victory.

Long shot: A big underdog to win.

Middle: An outcome that falls between two bets on different sides of the same event, allowing the bettor to win both wagers.

Money line or moneyline: The odds or price of betting an event straight up, without the use of a point spread. When betting the money line (or moneyline), the favorite will be designated with a minus sign next to the number. The higher the number, the greater the odds the favorite has to win, but the lower the payout. The underdog will be designated with a plus sign next to the number. The higher the number, the lower the odds the underdog has to pull off an upset, but the larger the payout will be should the upset occur.

Nickel: A $500 bet.

Oddsmaker: The person or persons who set the odds on an event.

Off the Board: When a sportsbook or sports betting operating removes a wager from its offering and is no longer taking bets on the event. Oftentimes, an operator will take a bet off the book when deciding to change the odds. Leaving the bet up could expose the oddsmaker to increased risk.

Opening Line (or Open): The initial point spread or betting line on a game or competition.

Over/Under: The line set on a specific total that bettors can pick to go over or under. Over/under lines are most commonly made on the point totals of games, but can also be used on teams, players, and other prop bets.

Parlay: A wager that includes multiple bets within one greater bet. To win, a bettor must hit all the individual bets.

Pick’em: When a game or event has no side that is favored over the other.

Point Spread: The point spread is how teams or sides are handicapped against one another. It’s the number of points one side is giving or receiving to the other. For more on point spread betting, click here.

Prop Bet (or Proposition Bet): A prop bet, short for proposition bet, is a type of side bet that is placed on something not determined by the final outcome of a game, such as a specific statistic for a given player.

Public: Another term for volume of bets being placed.

Puck Line: Hockey’s version of the point spread, although rarely anything different than -1.5 or +1.5. Instead of altering the points given, bookmakers will adjust the odds on these lines.

Push: A tie.

Quarter: A $25 bet.

Return On Investment: A measurement on a wager’s or bettor’s performance giving in the ratio of net profit and cost of investment.

Reverse Line Movement: When a line moves opposite of the betting percentages, or opposite the public.

Round Robin: A wager that allows a bettor to place multiple parlay wagers within a single bet.

Run Line: Baseball’s version of the point spread.

Betting Odds Terminology

Runner: A person who places a wager for another person.

Sharp: A professional sports bettor or a bettor deemed to have an enhanced advantage.

Square: A casual, hobby sports bettor. Not a professional and considered to be just a member of the general public.

Sportsbook: An establishment that accepts wagers.

Steam: Term used to describe a fast-moving line.

Straight Bet: A bet that is made without using a point spread. In other words, another way to classify a money line bet.

Take the Points: The opposite of laying the points, taking the points means a bettor is receiving points from the other side. Betting the underdog.

Teaser: A bet that allows the bettor to adjust the point spread by adding or subtracting points. The adjustment comes at a cost, though, as the bettor will be faced with a lower return determined by the amount of the adjustment.

Total: The combined number of points, runs, or goals from an event.

Tout: A person who sells his or her picks and sports betting knowledge to others.

Sports Betting Terms And Definitions

Underdog: The side of a wager that is the unlikely winning side.

Unit: The amount a bettor deems to be one wager’s worth. Bettors often bet in terms of units, with the number of units bet on an event determined by the bettor’s confidence in the wager.

Vigorish (or Vig): Another term for the “juice” or “rake,” which is the money a sportsbook or sports betting operator takes on a wager.

Wager: A bet.

Wise Guy: Another term for a sharp bettor used to describe a professional bettor or someone deemed to have an enhanced advantage.

That’s it for now. Bookmark this page or check page often, as we’ll continue to add more sports betting terms to this list.