Sports Betting 101 Industry Terminology Appendix
Sportsbook (Book) - A digital or physical place where someone can place a sports bet Host / Account Manager - A dedicated sportsbook staff assigned to high-value customers Promo - Promotional offers which typically consist of bonus bets, credit, or deposit matches Betting Terminology Action - Having a bet or wager on an event Bad Beat - When a bettor loses a wager that they were seemingly on the verge of winning Bankroll - Amount of money available to gamble In-Play / Live Betting - Bets offered once a sporting event begins Line - Betting odds posted by a sportsbook Moneyline / Straight - A bet that is contingent on whether a team will win or lose a game Over / Under (“Totals”) - A bet on whether that event will go “over” or “under” a specific number Parlay - A single wager that involves the bettor making multiple bets and tying them into one Point Spread (“Spread”) - A bet on the margin of victory. A favorite is listed with a negative spread (-3.5), while an underdog is listed with a positive spread (+3.5). A winning wager on a favorite means that the contest was decided by a margin that exceeded the spread Prop(osition) Bet - A bet made on something that may occur during a game that isn’t necessarily tied to the game’s outcome (such as individual athlete performance) Betting Example Betting lines reflect a team’s expected margin of victory or defeat. For example, Teams A and B are playing tonight. If it is believed that Team A will win by 250 points, a line will be set at:
Team A -250 Team B +200
Since Team A is favored to win, you will see negative odds (minus sign). This means you need to risk a certain amount of money to profit $100. For example, since the odds for a bet are -250, a bettor would have to bet $250 to profit $100 (total payout of $350).
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