Sports betting has become more prevalent in the online gambling market in recent years, as more jurisdictions legalize this activity. However, the language used in this multi-billion-dollar industry can be a little confusing to beginners. Fortunately, our sports betting experts have covered a list of all the terms you need to learn to improve your gambling IQ.
Action
Action refers to the act of placing a wager or having an active bet on a sports event.
American odds
It’s an international phrase referring to what’s commonly called the “money line” in the US. These odds are expressed in the form of cash, with $100 being the baseline. If the odd value indicates a negative sign (-), then that’s the amount of cash you must place to win $100. If the odds are positive (e.g., +500), then that’s the amount you win with every successful $100 bet.
Against the spread (ATS)
When engaging in sports betting, “Against the spread” (ATS) involves a distinctive approach, wherein wagers are placed not solely on the outcome of a sporting event, but rather on how a team performs concerning the point spread. This strategy introduces an added layer of complexity, as bettors must not only predict the winner but also consider the margin by which the favored team must win or the underdog needs to keep the game close. ATS betting often requires a deeper analysis of team performance and match dynamics, making it a popular choice for those seeking more intricate and strategic wagering experiences.
Bad beat
It refers to a wager that seems like the punter is going to win but loses because of unforeseen reasons.
Sportsbook
A place where punters can place a sports bet on different events. You can find hundreds of sportsbooks online, but Betway is the best choice for anyone looking for solid odds and live betting markets.
Edge
The advantage that a sports punter has before placing a bet. Edge in sports betting refers to the advantage that a sports punter possesses before placing a bet, giving them a potential upper hand in predicting outcomes and making informed decisions. This advantage could arise from a variety of factors, including extensive research, in-depth knowledge of the sport, teams, players, and even weather conditions. Additionally, staying updated on team dynamics, recent performances, and historical data can contribute to a punter’s edge. Moreover, utilizing advanced statistical analysis and predictive models can help identify trends and patterns that might not be apparent to the casual observer. Overall, having an edge is crucial as it increases the likelihood of making accurate predictions, leading to more successful bets and, ultimately, a higher chance of sustained profitability in the dynamic world of sports betting.
Even money bets
Even money bets, a fundamental concept in betting, refer to wagers with odds that are denoted as +100. In essence, this implies that when placing an even money bet, such as putting $100 on a particular outcome, a successful wager would result in a profit of $100. The term “even money” itself signifies a balanced risk-reward ratio, where the potential winnings equal the amount staked. This type of bet is often considered a baseline for assessing other betting odds, as it represents a straightforward scenario where bettors can potentially double their investment if their prediction proves accurate.
Favorite
The term “favorite” holds significant importance in the realm of sports betting, as it designates the team that holds the favor of bookmakers like Betway to emerge victorious in a given event. This favoritism is often reflected in the team’s lower odds compared to their opponent, a reflection of the bookmakers’ perception of their higher likelihood of winning. Betting enthusiasts keen on making informed decisions often scrutinize the status of the favorite, considering factors like team form, player injuries, and historical performance, as these insights can play a pivotal role in maximizing the potential of their wagers.
Underdog
The team that’s expected to lose the game. Underdogs normally feature long odds compared to the favorites.
Future bets
A wager on sports events that will settle in the future. That includes bets for the team that’s likely to win the league title, who will win the Championship during the regular season, and much more.
Hedging
Placing a bet that’s opposite of your previous bet ensures you win and benefit in some capacity, regardless of the results.
Parlay
It’s a bet that combines different matches for a higher payout. The more games or events you choose, the higher your risk of losing, but that comes with greater payouts. However, for a parlay bet to win, you must correctly predict all the outcomes on your betting list. If any game loses, your whole bet loses.
Point Spread
The margin of winning an event is set by the oddsmakers to encourage action on both the favorite and the underdog. That means the favorite must win with a higher number of points to cover the point spread. The underdog can also cover by losing the game with less number of points than the spread or claiming the win outright.
Push
When no team covers the spread, and nobody wins. In this case, the wagers are refunded.
