Fact Checked by 
If you are new to the world of sports betting, you will certainly come across sports betting terms that are unfamiliar. Understanding these phrases and terminology is crucial if you harbour hopes of becoming a profitable sports bettor.
With that in mind, we’ve broken down the most commonly used sports betting jargon. We’ve provided a clear definition for each term, along with examples where necessary. They are in alphabetical order, so you can easily find the terms you are interested in.
Sports Betting Terminology A-Z
A
Accumulator
An accumulator (also referred to as a multi or parlay) is a popular type of sports bet that includes two or more selections combined as one single wager. The odds of each outcome are multiplied to create a single, extended price. Each pick must be successful for the wager to pay out, so if there are 5 picks, all 5 must win.
Action
‘Action’ is a term used to describe any live wagering option or the total amount bet on a particular event. Sportsbooks accept ‘action’ on all of their betting lines and odds.
Across the Board
A term most commonly associated with horse racing betting, ‘Across the Board’ describes a wager that covers three potential outcomes in a race. It’s also referred to as a ‘Win, Place, and Show’ bet, and you’ll receive variable payouts depending on whether your chosen runner finishes first, second, or third.
AET Odds
A reference to ‘After Extra Time’ odds, covering outcomes after extra periods. Often used in soccer betting games in big tournaments.
Alternative Betting Lines
Alternative betting lines are a reference to lines and odds away from the main moneyline wager on a game. The most common types of alternative betting lines are point spreads and totals betting.
Arbitrage
Arbitrage is the process of exploiting differences in odds across bookmakers to ensure a guaranteed profit no matter what the outcome of a game.
Asian Handicap
A form of handicap betting that eliminates the possibility of the draw as an outcome. Asian Handicap betting is a popular form of soccer betting that simplifies the game into two betting options that each have a near 50% chance of success.
B
Backdoor Cover
This is a reference to a late score that covers the spread, impacting the betting outcome but not the game’s result.
Bad Beat
We’ve all suffered from these. Your bet looks sure to win, but is blown out of the water late on by an unexpected late event.
Bankroll
A bankroll is the sum of money that you set aside for betting. These funds are held in a single sportsbook wallet or spread across multiple wallets.
Bankroll Management
Bankroll management is the practice of effectively organizing and utilizing your sports betting budget. This includes depositing and wagering habits, as well as factoring in things like your ability to seek out the most competitive odds. Optimal bankroll management will ensure you never bet more than you can afford to lose, and will maximise your potential for long-term success.
Betting Exchange
A betting exchange allows bettors to both back and lay bets and create their own prices. Exchange bets are only ‘live’ when they have been ‘matched’. The exchange takes a small commission from all winning bets.
Bookmaker
Bookmaker is a UK term for a sportsbook. Essentially, it is simply a reference to the organisation/person that is laying the bets.
Buy Points
‘Buying points’ in sports betting means you are effectively accessing a superior point spread. The flip is that you will get lower odds, but you have a better chance of success. Theoretically, this means you have a better chance of covering one or more additional betting lines in the point spread.
C
Circled Game
In certain circumstances, a sportsbook may reduce its betting limits or market options. This could be for several reasons, but often it is because of reports of one competing team having a significant number of injuries or suspensions.
Chalk
In sports betting parlance, ‘chalk’ describes a heavy betting favorite. So, any team or player favored heavily on the spread could be referred to as the chalk.
Closing Line Value (CLV)
The comparison between the odds at which a bet was placed compared to the closing odds. This is one of several key factors in defining your profitability and to what extent (if any) you have been able to beat the market.
Commission
Sportsbook odds have an inbuilt level of commission attached to them, which is often referred to as ‘juice’ or ‘vig’. Typically, sportsbooks apply a 10% commission per individual transaction.
Consensus Pick
The most popular or widely favored bets among bettors. It’s normally based on the collective opinions or recommendations from tipsters, pundits, or betting communities.
Contrarian Betting
Someone who doesn’t like to follow the crowd, especially when it comes to odds-on favorites.
Correct Score
‘Correct score’ betting is a wager on the exact score in a particular match. It’s a high-risk, speculative market, but one that brings bigger rewards if you can nail the exact score.
Cover/Cover the Spread
‘Covering the spread’ means your points spread bet has been successful. For example, if you backed the 49ers to beat the Eagles with a -6.5pt spread and they subsequently won 28-18, it means they won by more than the 6.5pts, so you’ve beaten the spread.
D
Decimal Odds
The decimal odds format is widely used in Europe, which features a single number to two decimal places. Decimal odds indicate exactly how much you can win for every $1 wagered (including your stake amount). It’s also a formula that makes it easy to calculate the implied probability of a particular outcome occurring (divide decimal odds by 100). For example, if a team is 1.6 on the moneyline, that means the implied probability of them winning the game is 62.5% (100/1.6).
Dime Line
An American betting term that suggests there is just a marginal 10¢ difference between two teams. For example, an NFL favorite might be priced at -140 and the underdog at +130. The difference is effectively the house edge.
Double Action
A bet that involves multiple selections, whether that be in the same game or across multiple games.
Draw
A match ending in a tie at the end of standard time. It’s particularly relevant in soccer betting, where three-way match outcome betting is popular.
Drift
When odds lengthen before an event. This can be for a variety of reasons, including strong support for a rival or opponent.
Dog (Underdog)
The team or player with the biggest odds so not favored to win.
Dutching
Dutching is a popular way of betting among smarter bettors that involves backing more than one contender/outcome in a contest so as to increase the probability of generating a profit.
E
Each Way
A two-part bet covering both a win and a place wager. It’s most commonly used in horse racing betting or tournament betting in golf.
Edge
In casino and sports betting, there’s such a thing as a ‘house edge’. It’s often referred to as ‘vig’ or ‘juice’ (see ‘Commission’ section above). However, it’s also possible for a bettor to develop an edge over sportsbook odds, typically through strategies such as arbitrage betting, carrying out extensive analysis, and the strategic use of free bets.
European Handicap
European Handicap is a method of betting that requires a team to not only win a match, but win by a certain clear margin of goals. It differs from an Asian Handicap wager in that it involves whole numbers, which means the draw is still a factor.
Even Money
Even money is a reference to a bet where the odds are 50-50. This means that you win the equivalent of your stake if the bet lands. So, you bet $100 on an even money chance (2.0 in decimal odds or +100 in American format), then you would be paid out a total of $200.
Exotic Bet
Exotic bets are more adventurous, higher-reward bets. In horse racing, a bet like a Trifecta, where you predict the first three home, would be an exotic wager. Examples of sports exotic wagers would be a player completing a specific number of rebounds when betting on an NBA game or the identity of the top points scorer in a particular game.
Exacta
A horse racing bet in which you select two horses to finish first and second. They must finish in the exact order (hence the bet’s name) for the bet to pay out.
Exposure
In sports betting, ‘exposure’ describes the amount of money you or a sportsbook could potentially lose on any given wager. Bookies may also calculate their total exposure based on the volume of bets placed on a specific event.
F
Favorite
The team, player, or participant that is the shortest odds, therefore, is more likely to win. Favorites can be backed both pre- and in-game, although in-game odds are more likely to fluctuate to a much greater degree.
Field
The field is a reference to the competitors in a tournament, league, or horse race. It’s most commonly used to discuss the runners in a horse race or when betting on one of the players in a golf tournament.
First Half Bet
In sports like soccer and football, games are split into two halves. Period wagers like ‘First Half Bet’ are placed on the outcome at the end of the first 45 minutes of a soccer game or 30 minutes of an NFL match.
First Period Line
This simply refers to the outcome at the end of the first period. So a ‘first period goal line’ might be Over/Under 0.5 in a hockey game.
Fixed Odds
Fixed odds describe prices that are predetermined and locked into place when you execute your wager. With a fixed odds bet, you will know the exact return on the bet as soon as it is placed.
Fractional Odds
An odds format is most commonly used in the UK. It features two numbers separated by a forward slash. The first number relays how much you can potentially win in relation to the second, which describes your stake amount. So, if you successfully bet $20 at odds of 7/1, you’ll bank $140 profit plus your $20 stake.
Full Cover Bet
A full cover bet is a multiple that covers all possible combinations. For example, in a Yankee, there are four selections, which means there are 11 different possible combinations (6 doubles, 4 trebles, and a fourfold accumulator).
Futures Bet
Futures bets, also referred to as outright wagers or ante-post bets, describe bets that are placed on the winner of a particular league or tournament. If you are a fan of NFL betting and want to bet on the Super Bowl winner in November, it would be classified as a futures wager.
G
Goliath Bet
A Goliath is a parlay bet containing eight different selections. The total number of permutations in a Goliath is 247 (28 doubles, 56 trebles, 70 four-fold accumulators, 56 five-fold accumulators, 28 six-fold accumulators, eight seven-fold accumulators, and one eight-fold accumulator), so a $1 Goliath would cost a total of $247.
Going
A horse racing term used to describe track conditions. This can often be a crucial piece of information, as many horses have a preferred surface.
Graded Bet
The term ‘graded bet’ describes a wager that has been officially settled, whether that be as a winner, loser, or push. It’s more likely to be referred to as a ‘settled bet’.
Grand Salami
A bet on the total number of points, runs, or goals scored across all games in a division or league on that day. It’s a popular bet on days when there is a full slate of games, like a Sunday.
Green Book
A green book is a term used to describe a scenario where you will show a profit no matter what the outcome of the event. It’s typically applied to betting exchange players because positive outcomes are displayed in green, whereas losses are shown in red.
H
Half Ball
A half ball is an Asian handicapping term that is used to differentiate two closely matched teams in a game where the draw is a strong possibility. Backing a team by a half ball (0.5 goals) means that if the game ends in a draw, you will win.
Handicap/Handicapping
This sports betting term is often used interchangeably with point spreading. It allows you to assign a goal or points handicap to the favorite, offering enhanced odds. Conversely, you can give the underdog a goals or points advantage, potentially boosting your returns if they perform better than expected.
Handicapper
A handicapper is someone who applies handicap lines to an event. These can be traders at a sportsbook (bookmaker) or individual bettors who create their own handicap lines to find betting opportunities.
Handle
In sports betting, a handle refers to the total amount of money wagered on a particular event, market, or over a specific period. It’s the gross betting volume before payouts or winnings are deducted. So, if $5 million is bet on a football game, the handle is $5 million.
Hedge
In sports betting, ‘hedging’ describes the process of placing two or more bets on a single event. The theory is that all bets will combine to ensure a guaranteed profit, no matter what the outcome of the game.
Home Field Advantage
Home-field advantage describes the innate advantage that teams have when they play in front of their own fans. This varies from one sport to another, but it’s highly prevalent and a key factor in how outcomes are priced. For context, approximately 59% of NHL games are won by the home side, while this figure drops to 57.6% in the NFL.
Hook
The ‘hook’ is a term used to describe half a point in a spread bet. Buying the hook creates a small advantage at an additional financial commitment. For example, if you love to bet on NHL games and want to back the Red Wings at -1.5 on the spread, buying the hook would turn that into a -1 handicap, so a one-goal victory would earn you a push as opposed to a loss if the bet was -1.5 goals.
I
If Bet
An ‘if’ is a form of parlay. Like a parlay, each selection must win if the ‘If’ bet is to roll onto the next selection. Unlike a parlay, with an ‘If’ bet, you can adjust stakes after each winning leg, allowing you to risk as much or as little of your winnings up to that point.
Index Betting
Index betting is a form of spread betting where you bet on a numerical outcome (the “index”) assigned to a sporting event, market, or player performance.
In-Play Betting
In-play betting, otherwise known as ‘live betting’, describes wagers that are placed once a game has already started. Otherwise referred to as ‘live betting’, this unlocks a huge range of markets and micro bets that fluctuate depending on the ebb and flow of the game.
Institutional Betting
Institutional betting refers to sports betting conducted by large organizations or professional syndicates, rather than by casual or recreational bettors.
J
Juice
‘Juice’ is another term for vigorish or commission. It’s typically around 10% of the published odds, ensuring that bookies bank at least a nominal profit on every wager placed.
Joint Favorite
Two horses or players that are tied at the top of the betting for an event. If there are three or more horses or players that are equally priced, then they are known as co-favorites.
Jump Ball Bet
A jump ball bet is a prop bet on which team wins the opening tip-off in a basketball game. This would typically be around 1.8/1.9 on each side of the bet.
K
Keep Betting (system strategy)
This is a term sometimes applied to betting systems like the Martingale System, where you keep betting until you show a profit.
Kelly Criterion
The Kelly Criterion is a mathematical formula used to determine the optimal size of a bet based on your theoretical edge and the odds. It’s a system designed to maximize long-term bankroll growth while minimizing the risk of blowing out completely.
Key Stat
A key stat in sports betting is a specific statistic that strongly influences the outcome of a game or bet, depending on the sport and market you’re targeting. Smart bettors use key stats to identify betting value and make more informed predictions.
Kickoff Betting
Kickoff betting refers to placing bets on specific outcomes related to the kickoff in a sporting event (typically American football). Bets on the opening kickoff include ‘Will there be a touchback?’, ‘Will the kickoff be returned?’, and ‘Will the kickoff result in a fumble?’
Knock-In Bet
A Knock-In Bet is a type of conditional sports wager where the bet only becomes active (or “knocks in”) if a certain condition is met. It’s usually tied to live or in-play betting.
Knockout Accumulator
A Knockout Accumulator is a type of accumulator (multi-leg) bet where all selections are taken from the knockout stages of a tournament, for example, the World Cup.
Knockout Stage Bet
A knockout stage bet is a wager placed on a match or outcome during the knockout phase of a tournament, for example, the quarter-finals, semi-finals, finals, or playoffs.
Korean Odds
Korean odds are one of the lesser-used formats in sports betting and are similar in structure to American (moneyline) odds. The key difference is that Korean odds are presented as the profit per unit bet, not including the stake, and use a base of 1.00. Korean odds of 1.50 would be the equivalent of +150 American odds.
L
Laying Points
‘Laying’ points in sports betting is the flip side of wagering on a favorite. For example, a bet placed on the 49ers as a -6.5 favorite means that you’re laying 6.5 points on the spread.
Limit
Limits are applied right across the sports betting spectrum. That includes everything from welcome bonus T&Cs to individual wagers, as well as things like deposit and withdrawal limits. Often, staking limits are applied to specific games to ensure sportsbooks manage their profit and loss levels across the board.
Line
A ‘line’ or ‘betting line’ refers to the odds published by a sportsbook. Typically, there will be a range of lines available on big games, such as moneylines, point spreads, and totals.
Live Betting
Another term for in-play betting (see above). ‘Live’ odds fluctuate as the game progresses.
Longshot
‘Longshot’ is a colloquial term for underdog, which is a term for a contender that is perceived to be an unlikely winner. With that in mind, longshots are typically available at extended odds, and betting on a winning longshot can be hugely rewarding.
M
March Madness
March Madness is a term for a period in the basketball calendar when the NCAA college tournaments take place. Hundreds of teams do battle to take part in a tournament often referred to as the ‘Big Dance’. A final field of 68 teams takes part over three weekends, hoping to be crowned national champions. It’s a huge betting event.
Moneyline
A straight bet on which team will win a game, no matter what the margin. This will typically be a two-way market with a favorite and an underdog, unless the two teams cannot be split.
Middle
Known colloquially as ‘middling’, this is a strategy that aims to capitalize on shifting lines in spreads, odds, and totals.
Martingale System
A betting strategy that originates from 18th-century France. It involves doubling your stake after each loss so that, when a win arrives, you would recover all losses plus win an amount equal to your original stake.
N
Nap
The word ‘nap’ is derived from the card game Napoleon. A nap bet describes a wager that’s your best of the day, and is similar to a lock. Horse racing tipsters will typically have a ‘nap’ on the card.
Novelty Bets
Wagers on non-sporting events, such as elections or award shows like the Oscars. Political betting in particular is growing rapidly, and betting on the next US president reaches fever-pitch in the height of election season.
Nickel
A slang term for a $500 sports wager.
No Action
This is a sports wager that has been canceled and refunded. This can be for any number of reasons, but weather is a common cause of games being abandoned.
O
Odds
Odds are the prices and betting lines set by sportsbooks on specific matches and events. Various factors contribute to the setting of odds, but ultimately, odds reflect the probability of an event happening, with some juice added to ensure the sportsbook makes a profit over time.
Odds-on Favorite
A short-priced favorite that is less than even money (+100 or 2.0). It’s referred to as ‘odds-on’ because winnings will always be less than the stake.
Outright Betting
Another term for futures betting that describes the process of backing the winner of a future event or tournament. People bet on futures betting because they believe the outright odds represent value, believing that in time those odds will contract and they will be onto a good bet.
Overlay
An overlay is a scenario that occurs when your own estimation of an outcome’s chance of happening is higher than the bookmaker’s implied probability. The odds will reflect that discrepancy in your favor.
Over/Under Betting
Over/under markets are one of the most popular sports betting options. They are most synonymous with points, goals, or run totals. So, for example, soccer betting fans will often want to wager on Over 2.5 goals in a game featuring two high-scoring teams.
P
Parlay
The bet most pushed by sportsbooks in the US. It’s a single bet that links together two or more individual wagers, the odds of which are multiplied to create an enhanced payout. These bets are hugely popular with casual sports fans on days when there are a lot of games.
Payout
The money. This describes the amount you’ll bank when placing a winning wager. Your stake amount and your bet odds determine it. For example, fans of MLB betting might want to have a $100 single on the New York Yankees winning the World Series (at decimal odds of 3.25). If it’s the right call, you’ll bank a $325 payout (winnings + stake).
Pick ‘Em
A ‘pick ‘em’ wager is a two-way contest where the teams or players are perceived to be very closely matched. The odds will reflect this, and you might see both sides of the moneyline at, say, -110.
Power Rankings
‘Power Rankings’ references a specific set of ratings used by both experts and bettors to identify the best-performing teams or players over time. Pundits regularly release weekly NFL player rankings, for example, to help inform match or futures wagers. This is the sort of data that shrewder punters use to help form their sports betting strategy around the game.
Prop/Proposition Bet
A proposition or ‘prop’ bet is an exotic wager on individual or collective performances during matches. Player props may be associated with the number of points or goals scored during a game, such as a player to score 0.5 goals in an NHL game. For big games, there will be hundreds of prop bets.
Puck Line
This sports betting term is synonymous with hockey wagering. It specifically refers to the point spread in hockey, where favorites have a negative goal spread (eg, -1.5 goals) and dogs have a positive goal spread (eg, +1.5 goals).
Push
A push is the term used for a wager that ends in a tie. For example, if your NFL spread is -8 and the final result is 28-20 in favor of your pick, your wager is categorized as a ‘push’ and your stake is refunded. You neither win nor lose.
Q
Quarter Bet
This is commonly associated with NBA and NFL wagering. Quarter bets can be placed before or during any quarter of a match, and the main line of focus is generally the moneyline for that quarter. Point spreads and totals are also popular quarter bet types.
Quinella
A horse-racing bet where you select two horses to finish first and second, in any order.
Quarter Line
This is essentially a moneyline bet for a specific quarter. You can either bet the Quarter Line before the quarter has started or in-play, where the odds will fluctuate depending on the game state.
R
ROI (Return on Investment)
Return on investment, or ROI, is a metric used to calculate the profitability of a series or group of bets. It’s a simple calculation that divides profit by total stakes, expressed as a percentage. So, for example, if you win $800 from a total stake of $250, your ROI would be 320% ((800/250)*100).
Rollover Requirement
A phrase you will often see attached to sportsbook bonuses. Rollover requirements refer to the number of times the bonus amount needs to be played through before the balance becomes real cash that can be withdrawn.
Run Line
The ‘run line’ describes the point spread in baseball. Like the puck line in hockey, favorites are usually posted with a spread of -1.5 runs, while the underdog is awarded +1.5 runs at the outset. If you access run lines in-play, you’ll see that odds fluctuate as the game unfolds.
Round Robin (RR)
A type of bet that allows you to combine multiple parlays into one overarching bet. A RR requires at least three teams or players. Once you make three or more selections, an RR betslip will create parlays of all possible combinations between them.
S
Second Half Bet
A bet that revolves around events that take place solely in the second half of a game, irrespective of what happened in the first half.
Sell Points
Selling points means you are effectively wagering on that team winning by more than the sportsbook’s fixed betting line. Selling points on an underdog means you’re backing them to either lose by a smaller margin than the spread or by a nominal amount.
Sharp
A ‘sharp’ is someone considered to be either shrewd or a professional bettor. Only the sportsbook laying the bets will know if a punter is a ‘sharp’, but often the perception doesn’t match the reality. Sharps also operate in other betting verticals, such as casino and poker.
Spread Betting
With spread betting, you’ll typically use different point spreads to level the playing field for wagers. So, if you think an NFL game is going to be tight, you might want to back the team on the positive side of the spread. The greater the plus number (eg, +7), the more prohibitive the odds. It’s also known as ‘handicap’ wagering.
Stake
Simply, a stake is the amount you wager on a particular selection. If you bet a parlay, the unit stake is multiplied by the number of perms in the wager to produce an overall stake.
Straight Bet
A ‘straight’ bet describes any single wager placed on a money line, spread, or points total. You are keeping things simple!
T
Teaser
Teaser odds are a great way for sportsbooks to entice bettors and increase wagering activity. Typically, this involves creating enhanced betting lines for favorites. However, players also have the option of accessing alternate lines or parlay markets.
Tipster
Tipsters purport to have an expertise or inside track that they use to give advice. Many tipsters charge a subscription fee for their services, while others can be found on websites of publications. Most tipsters tend to specialize in a specific sport, whilst the most reputable ones will have publicly available profit and loss data.
Totals Bet
Totals bets come in the form of a line that punters can bet either over or under. It’s a wager that can be applied to quarter or half betting, as well as the full game.
Trifecta
A speculative horse racing wager that requires you to select the first three finishers in the exact order. It’s the sort of bet that can win you a lot of money, with trifecta returns often hitting 4 figures, and five-figure payouts come along when the outsiders fill the frame.
U
Underdog
‘Underdog’ or ‘dog’ is the sports betting term for a team or player that isn’t expected to win a game. Underdogs are nearly always available at positive odds, so bigger than even money.
Unders
Unders bettors are hoping the line in the over/under market is on the high side and the total comes in below the line. It’s the sort of bet you would have in a soccer game if the sides playing were both strong defensively and/or had striker issues.
Upright Bet
The most common type of sports bet. It’s a straightforward bet on a team or individual to win a game or event.
Upset
Upsets can come in all shapes and sizes, but typically, it’s a reference to an underdog beating a favorite. Upsets can come in individual games or the overall competition, e.g., if a +5000 golfer wins the US Masters.
V
Vigorish (Vig)
You may know this as ‘Juice’ or ‘Commission’, but they all amount to the same thing – the premium sportsbooks apply to individual odds. It’s typically around 10% and ensures the sportsbook makes a profit in the long term because it means the odds are in their favour.
Void Bet
Bets can be voided in certain scenarios. Abandoned games or player prop bets on a player who takes no part would mean bets are voided. Bets can also be voided in situations where the sportsbook deems you took odds that were provided mistakenly. If you see odds that are too good to be true, you might not get the outcome you hoped for, even if the bet wins.
Value Bet
A bet that is deemed to be available at odds that exceed the true probability of that outcome occurring. For example, if you could bet heads at +150 in a coin toss, you would be getting a value bet, irrespective of which way the coin lands.
Volatility
The degree of variation in a betting market affects odds and potential payouts. In-play odds provide the most volatility, especially in faster-paced sports like ice hockey and basketball, where scores can change in seconds.
Virtual Sports
Virtual sports are randomly generated, simulated sporting events that are available at most sportsbooks. The range of markets tends to be smaller than for real sports events, and virtual sports events tend to take place more regularly to accommodate punters looking for fast-paced action.
W
Wager
This is just another term for a bet. It’s the act of risking money on any sports betting market.
Wiseguy
Similar to a ‘sharp’, a ‘wiseguy’ is a term used to describe someone who is deemed shrewd or knowledgeable when it comes to betting.
Welch
To renege on a bet or not pay a gambling debt.
X
Exchange (Xchange) Betting
A platform where bettors can wager against each other rather than a bookmaker. On an exchange, you can bet on events to happen or not to happen, which is called ‘laying’ – you are effectively playing the bookmaker.
Expected (Xpected) Value (EV)
This is slightly different from a regular value bet (see above) because EV is a number. It’s calculated in this way: (Probability of Winning) x (Amount Won per Bet) – (Probability of Losing) x (Amount Lost per Bet). You are looking for a positive net number here. A negative EV bet outcome tells you how much you would lose, on average.
A simple EV example would be the Dolphins are 2.5 (40% probability) on the moneyline to beat the Cardinals. If you estimate that the Dolphins have a 45% chance of winning, then you will have a bet that has an EV of +12.5% based on a $100 stake (0.45 * 150) – (0.55*100) = 67.5 – 55. This means, on average, you expect to earn £12.50 per bet if you placed this wager repeatedly.
Y
Yankee
A multiple wager that consists of four selections. These four selections combine to make six doubles, four trebles, and a fourfold accumulator – 11 bets in total. So, a $1 Yankee would cost $11 in total. You’ll get a return as long as two of your selections win.
Yield
Similar to the financial world, a yield is the measure of the profitability of a series of bets. It is calculated by first subtracting the total stakes from the total profit, then dividing that number by the total staked. You then multiply this by 100% to get an overall % result. For example, a $200 profit from 5x $10 wagers (total wagered $50) would equal a 300% yield ((200-50)/50*100).
Yearling
A horse-racing term for a horse in its first year. Yearlings can be bought and sold at major sales and auctions, some for huge amounts of money.
Z
Yard Line
NFL fans won’t need any help with this one. Yard lines refer to the lines marking each yard on the field of play. Many player prop bets will be yard-related, e.g., a player’s rushing yards.
Zebra
Black and white stripes were introduced as a uniform for referees in the 1920s. The slang term for an official is zebra, obviously because of the colours, so when you see the word zebra in any betting discussions, it’s normally a reference to the officials.
Zero Line
A zero line refers to a handicap bet where no advantage or disadvantage is given to either side. This is effectively a “draw no bet” or “level handicap”.
Zigzag Theory
A betting strategy based on the idea that teams will often bounce back after a loss in a series. If a team loses, then the Zigzag theory suggests you should bet them to cover the spread in the next game.
