Sports Betting Terms: A Glossary for Novices

Your Guide to Most Common Sports Betting Terms

Sports betting terms can be confusing for beginners, especially if you don’t have the proper guidance. A reputed online sportsbook might offer you a list of terms, but to get you started, we have listed some of the common terms that will make the learning curve easier for you.

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All the Sports Betting Terms Every Beginner Needs to Know

The list of sports betting terms can be an endless one, but in this article, we will discuss some of the most basic ones.

Accumulator

This concept is very similar to that of parlay. These wagers have two or more selections, and to get a winning ticket, each side must win.

Action

In any specific event, the total amount wagered is known as action.

Added Game

Once the main lists are posted, added games appear on betting boards. These are mainly constructed due to public demand and occur in college football. These might also represent a postponed match.

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Alternate Lines

Any odd at a higher position or a lower position compared to that of the main posted line is termed an alternate line.

Bankroll

The total money possessed by a bettor to place the wagers is termed bankroll.

Betting Exchange

These are basically betting platforms where people place wagers against one another and are not bet against any particular sportsbook. The exchange operator takes a small cut out of all the winning wagers.

Betting Unit

The usual amount of a typical wager is termed a betting unit. Every bettor has their bankroll size, but irrespective of that, a unit can be utilized to share how much of a bet it was without saying the exact dollar amount.

Circle Game

When betting limits of a game are of a lower value than usual, then the sportsbook circles that game. These cases usually arise when a player incurs an injury before the match. Some other cases when this happens are when there is a trade rumor or potentially bad weather.

Consensus

A general agreement that is followed in sports betting is termed consensus.

Double Bet

When the betting amount is precisely twice the normal wager placed by the bettor, it is called a double bet. If a bettor feels that one of the teams has a huge advantage or is superior to the other team, they may place a double bet.

Edge

When someone gains access to unique insights unknown to others/the general public or performs extensive research and gains special information, the bettor gains an advantage, also known as the edge.

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Exposure

This is the total amount of money a bookmaker or a bettor stands to lose from any particular wager.

Futures Bet

This is a particular type of bet placed on any event that is to take place sometime in the future, either distant or near. Popular futures betting options include the World Series, NBA Finals, Stanley Cup, and the Super Bowl. Several tennis tournaments, golf, major horse races, and soccer offer futures bets.

Half Time Bet

Once the game moves into the second half, any wagers placed on the outcome at that moment are termed a half time bet. These types of bets can be placed any time after the second half begins, either as live wagers or during intermission.

Hedge

This is a risk management technique and is most commonly used in parlay betting. Here, the bettor considers betting on the opposite side of the original bet as well so that they can prepare a situation of guaranteed return. These bets are also placed on wagers that have the potential to lose so that the initial risk can be reduced.

Limit

There might be both low wagering limits and high wagering limits set by bookmakers. These limit options vary from one sport to the other. Apart from this, every bettor is advised to set their personal betting limits as part of their bankroll management system.

Conclusion

Like most other industries, sports betting has its own terms that might seem like jargon to beginners. But we have tried to break some of them down for you in this article. So, what are you waiting for? Place your first bet online!