As of September 2022, one in five people reported placing a bet on a sporting event within the year.
While sports betting isn’t uncommon, many people are intimidated by the idea of becoming a sports bettor. As a beginner, the terminology can be very confusing and even overwhelming to learn at times.
However, it’s essential that you know the common terms. It will make betting online and in person much easier.
This guide will teach you about sports betting terminology, so the next time you place a bet on professional sports, you will be well informed. Continue reading for more!
There are times when someone may not want to place a bet themselves. Often times if a person is trying to keep their identity hidden, they will use an acquaintance or a friend to place the bet for them. This person is referred to as a “beard”.
Chalk Player and Dog Player
If you hear someone say “he’s a chalk player” they are simply stating that that person typically bets on the favored person, team, or horse. A chalk player or chalk-eater doesn’t bet on the underdog very often.
A dog player is going to be the opposite. They will usually bet on the underdog to win.
The moneyline shows the odds associated with each team. When you bet on the moneyline, you are simply choosing one team to beat the other.
The underdog or the team that is expected to lose will typically have higher odds. For example, if the odds for the underdog are +$200, and you bet $100, you’ll receive $200 plus your original hundred if the team wins.
Another example would be if the odds are -110 and you place a bet of $25. If the team wins, you’ll win $10 plus your original $25.
There are several terms that refer to different amounts of money in the sports betting world that you must know. These definitions are easy to get confused, so be sure to study them before your next bet.
- Half-a-dollar refers to $50
- Buck equals $100
- Dollar also equals $100
- Dime refers to $1,000
- Fifty Cents equals $50
- Nickel means $500
First Half Bet vs Half-Time Bet
If you don’t want to bet on the entire game, or if you want the chance to win more money, you can choose to bet on the first half or the second half. When placing a bet on the first half, you’ll be betting on what you think the halftime score will be.
An over-under bet is when you bet on the total number of points, runs, or goals scored in a game by both teams combined. If you’re betting on a baseball game and the total is 5.5 runs, you’ll have to decide if you think the teams will score more or less than 5.5 runs.
When you’re first learning sports betting terminology, it can be challenging to keep all the terms and definitions straight. Below are some of the “P” words and their meanings that you’ll want to familiarize yourself with before getting started.
When someone makes a parley bet they are combining two or more individual bests into a single wager. The payout is higher for a parlay bet, but you must be successful on all bets to win the money.
If a game gets canceled, it simply drops off your bet. However, be sure to talk to your online bookkeeper to understand how they handle specific situations. You can find more on Dimers.com.
Instead of only betting on which team is going to win, you can bet on how many points they will win by. The point spread is created by the bookie. The goal is to make the betting more even.
For example, if team A is favored to beat team B by four points and they win by seven, team A has “covered the spread”. Anyone who bet on team A will win money.
There are a few instances when you may not win or lose. This is called a “push”. If the teams tie and you bet the moneyline, you’ll get your money back.
This will also happen if the teams land on the point spread. Using the example above, if team A is favored to win by four points and they win by exactly four, then it’s a push and you won’t win or lose.
Public money refers to the team or individual that the majority of people are betting on. You can check online to see where the general public is putting their money. For one particular game, the majority of people may be betting on the underdog and vice versa.
Sharp money refers to people who bet large sums on a particular team. These people are often experienced and well-respected.
You can look online to see these bets as well. Public money and shape money may not be the same, so you can choose to bet the same as the public or the shape money.
Reverse Line Movement
When the money is being moved because of the shape money it’s called a reverse line movement. Often times the bets will follow the public money, but that’s not always the case.
Sports Betting Terminology
Now that you know the most common sporting betting terminology, you can start placing bets. These terms will help you make informed and calculated decisions so you can win.
Next time you’re about to place a sports bet with the best online bookie, refer to this article for all the sports betting terminology you need. You’ll find it helpful as you talk to your online bookie.
We hope you’ve enjoyed our guide. We have many more on our website for you to utilize. Keep browsing our site for information about the gambling industry and technology.