Sports Betting Glossary
Essential terms and definitions every sports bettor should know
New to sports betting? Start here to understand the terminology used across our platform and the betting industry.
Over/Under (O/U)
A bet on whether a statistic (yards, receptions, etc.) will be over or under a specific line. For example, 'Over 74.5 Receiving Yards' means you win if the player gets 75 or more.
Prop Bet (Proposition Bet)
A bet on a specific occurrence within a game that doesn't necessarily relate to the final score. Examples include player stats or first touchdown scorer.
Parlay
A single bet that combines two or more individual bets. All selections must win for the parlay to pay out. Parlays offer higher payouts but are riskier because one loss means the entire bet loses.
Volatility
A measure of how consistent a player's performance has been. High volatility means performance varies greatly game-to-game, while low volatility indicates more predictable, consistent results.
Spread
The point differential by which the favored team must win for a bet on them to pay out.
Moneyline
A bet on which team will win the game outright, regardless of the point spread. Favorites have negative odds (-150), underdogs have positive odds (+200).
Juice/Vig (Vigorish)
The commission charged by sportsbooks on bets. Typically shown as -110, meaning you must bet $110 to win $100.
American Odds
The standard odds format in the US. Negative numbers (-150) show how much you need to bet to win $100. Positive numbers (+200) show how much you win on a $100 bet.
Implied Probability
The likelihood of an outcome occurring as suggested by the betting odds. Calculated by converting odds to a percentage.
Value Bet
A bet where the bettor believes the actual probability of an outcome is higher than the implied probability from the odds, creating a potential advantage.
Line Movement
Changes in odds or point spreads over time. Lines move based on betting action, injury news, or other factors that affect the perceived outcome.
Total
The combined score of both teams. You can bet over or under the total.
Push
When a bet results in a tie with the point spread or total. Your stake is returned with no win or loss.
Bankroll Management
The practice of managing your betting funds to minimize risk of going broke. Common strategies include betting a fixed percentage (1-5%) of your total bankroll on each bet.
Unit
A standard measurement of bet size, typically 1% of your bankroll. This allows consistent sizing regardless of actual dollar amounts.
Hedge
Placing a bet on the opposite side of an original bet to guarantee profit or minimize loss.
ROI (Return on Investment)
The percentage profit or loss relative to the amount wagered. Calculated as (Net Profit / Total Amount Wagered) × 100.
Expected Value (EV)
The average amount you can expect to win or lose per bet over time. Positive EV (+EV) bets have a mathematical edge, while negative EV (-EV) bets favor the house.
Combo Stat
A bet combining multiple statistical categories for a single player, e.g. rushing + receiving yards.
Action
Having a bet currently placed on a game or event.
Quick Odds Calculation Examples
Positive Odds (+200)
A $100 bet wins $200. Total return: $300 ($200 profit + $100 stake)
Negative Odds (-150)
Must bet $150 to win $100. Total return: $250 ($100 profit + $150 stake)