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The Essential Bet Type Glossary
Frequently asked questions
Definition: A Same Game Parlay (SGP) is a bet that combines multiple selections from the same game, such as player props, point spreads, and totals, into one parlay wager.
Example: A bettor creates a Same Game Parlay for an NBA game, combining bets on LeBron James to score over 25 points, the Lakers to cover the spread, and the total points to go over 220.
The Talk: "I love creating Same Game Parlays—they’re a fun way to add more excitement to a single game."
More Talk: "Have you tried Same Game Parlays yet? They give you so much flexibility to combine different outcomes from the same game."
Definition: Sample size refers to the number of data points or observations used to analyze a particular outcome, affecting the accuracy and reliability of predictions or statistics.
Example: A sports analyst looks at the last 10 games as a sample size to predict a team's future performance, comparing it to their historical performance over the season.
The Talk: "Make sure the sample size is big enough when analyzing stats—too small a sample can lead to misleading conclusions."
More Talk: "Mike, do you usually stick to a larger sample size for your predictions, or do you look at shorter trends?"
Definition: Season averages are statistics that summarize a player’s or team’s overall performance over the course of a season, helping to predict future outcomes.
Example: A bettor uses a player’s season averages, like 25 points per game, to place a prop bet on the player’s points total for the upcoming game.
The Talk: "I always check the season averages before placing bets—it gives you a clear view of how a player has been performing consistently."
More Talk: "Do you consider season averages when betting, or do you prefer looking at recent form?"
Definition: A sharp is a professional or highly skilled bettor who consistently uses data, analysis, and strategy to place informed bets, often influencing line movements.
Example: A sharp places a large bet on the Miami Heat to cover the spread, causing the odds to shift in their favor, as sportsbooks adjust to the sharp action.
The Talk: "Sharp bettors know the game better than anyone—it’s impressive how they can move the line with just one big bet."
More Talk: "Mike, have you ever followed sharp bettors for insight into a game’s odds? It’s a great way to see where the real money is going."
Definition: Sharp action refers to the betting activity of professional bettors (sharps), whose large bets often influence the line or odds, causing them to move in favor of the bet placed.
Example: When sharp action comes in on the underdog, the sportsbook may shift the line from -3 to -2 in order to balance the action.
The Talk: "Sharp action is always a good indicator to follow—those bets usually have a lot of insight behind them."
More Talk: "Have you noticed any sharp action on this game? It’s interesting to see how it can change the entire betting landscape."
Definition: A sharp line refers to the betting odds or point spread set by sportsbooks that are closely aligned with the true probability of an event occurring, often influenced by sharp bettors.
Example: The line for an NBA game is set at -2 after sharp action from professional bettors, reflecting a more accurate probability than public betting lines.
The Talk: "The sharp line usually has a lot of value—you know the odds are set right when sharps are backing them."
More Talk: "I tend to avoid betting against a sharp line. The professionals are usually right on the money."
Definition: Shorter odds indicate a higher likelihood of an event occurring, offering smaller payouts in relation to the risk because the outcome is considered more probable. In American odds, the higher the minus (-), the shorter the odds.
Example: Betting on the heavily favored Los Angeles Lakers at -300 means a bettor would need to wager $300 to win $100 because their chances of winning are considered high.
The Talk: "I don’t mind taking shorter odds if I’m looking for a safe bet, but the payout is much lower."
More Talk: "Do you tend to avoid shorter odds? I prefer going for bigger payouts, even if the risk is higher."
Definition: Smart money refers to bets placed by professional or informed bettors, often influencing the line or odds, as these bettors use data, analysis, and insight to make more accurate predictions.
Example: When smart money comes in on the Green Bay Packers to cover the spread, the line shifts in their favor as sportsbooks adjust to the influx of professional action.
The Talk: "Smart money is a great indicator of where the sharp bettors are leaning—I like to follow that action."
More Talk: "Do you track where the smart money is going? It’s usually a good sign of where the value is in a bet."
Definition: A soft line is a betting line or odds that is considered easy to beat, often because it is set incorrectly by the sportsbook, allowing sharp bettors to take advantage.
Example: A sportsbook releases a soft line for an NFL game, setting the point spread too high for the favorite, and sharp bettors quickly place wagers to take advantage of the miscalculation.
The Talk: "Soft lines are perfect for smart bettors. You can capitalize on a mistake made by the sportsbook."
More Talk: "Have you ever caught a soft line? They don’t happen often, but when they do, they can be really profitable."
Definition: A sportsbook is a company or platform that accepts wagers on sports events, offering a variety of betting markets, odds, and lines for bettors to place bets on.
Example: A bettor places a wager on the Super Bowl at an online sportsbook, choosing from point spreads, moneylines, and prop bets.
The Talk: "I usually stick to one sportsbook for my bets, but sometimes I’ll shop around for better lines."
More Talk: "Have you ever tried multiple sportsbooks? You can often find better odds by switching between them."
Definition: The spread is the point margin set by the sportsbook to make a game more competitive for betting purposes, often used in football and basketball. The favored team must win by more than the spread to cover the bet.
Example: The New England Patriots are -7 favorites against the Miami Dolphins, meaning the Patriots must win by 8 or more points for the bet to win.
The Talk: "I usually bet on the spread, especially in NFL games. It makes the matchups a bit more interesting."
More Talk: "Do you focus more on the spread or the total? I’ve had some solid results betting the spread recently."
Definition: Spread data refers to the historical and statistical information used to analyze and predict the outcomes of betting spreads, often including team performance against the spread, trends, and other key factors.
Example: A bettor looks at a team’s record against the spread (ATS) for the past 10 games to determine whether the current spread is favorable.
The Talk: "Spread data is key for me—I like to analyze how teams have been performing against the spread before placing my bets."
More Talk: "Do you track spread data, or do you rely more on gut feeling? It’s a great way to spot trends in the league."
Definition: A square is a recreational or casual bettor who places wagers without much knowledge or strategy, often betting on popular teams or outcomes based on public opinion rather than analysis.
Example: A square bettor places a wager on the Los Angeles Lakers because of their star power, without considering how they’ve been performing against the spread.
The Talk: "Squares usually bet on the popular teams, but that’s why the odds are often inflated. I try to avoid following them."
More Talk: "Have you ever been a square, Sarah? I know I’ve made a few bets based on hype instead of research."
Definition: Stake refers to the amount of money a bettor wagers on a specific bet, often determined by the bettor’s confidence in the bet and their bankroll management strategy.
Example: A bettor places a $200 stake on a team to cover the spread, based on their strong analysis of the game.
The Talk: "I usually stake a percentage of my bankroll on each bet, depending on how confident I feel about the outcome."
More Talk:
"How do you decide on your stake? I’ve been using a flat betting strategy, but I’m considering varying it.
Definition: A statistical model is a mathematical framework used to analyze and predict outcomes of sports events based on historical data, player performance, team stats, and other variables.
Example: A bettor uses a statistical model to predict the probability of the Chicago Bears covering the spread against the Green Bay Packers, factoring in team performance metrics and player data.
The Talk: "Statistical models can really improve your betting decisions. I’ve been using one for NBA games, and it’s been pretty accurate."
More Talk: "Do you build your own statistical model, or do you follow experts who use them? I find them fascinating."
Definition: Statistics refer to numerical data and metrics used to evaluate and compare teams, players, and overall performance in sports betting, helping bettors make informed decisions.
Example: A bettor looks at a team’s average points scored per game and opponent’s average points allowed to decide whether to bet the over on the total.
The Talk: "Statistics are the backbone of my betting decisions—I always check the key stats before I place a wager."
More Talk: "How much do you rely on statistics, Mike? I feel like they’re crucial, but I still keep an eye on other factors like injuries."
Definition: Steam refers to rapid line movement that occurs due to a large volume of sharp bets being placed in a short period, often indicating that the line is moving in response to professional action.
Example: A line for an NFL game moves from -3 to -4.5 within an hour, indicating steam on the favored team, likely caused by sharp bettors placing large wagers.
The Talk: "I always keep an eye on steam—it’s a good indicator that the sharp money is moving the line."
More Talk: "Have you noticed any steam moves on this weekend’s games? I’ve been watching the lines closely."
Definition: A steam move is when a betting line shifts rapidly in one direction due to heavy betting from sharp or professional bettors, often signifying insider knowledge or confidence.
Example: The line for a basketball game shifts from +2 to -1 after significant steam moves from sharp bettors backing the favorite team.
The Talk: "Steam moves usually indicate where the smart money is going. I try to follow them when I can."
More Talk: "Do you pay attention to steam moves, Sarah? It’s always interesting to see how the line adjusts with sharp money."
Definition: Slang for a sportsbook, referring to where bets are placed.
Example: A bettor might say, “I’m shopping for the best line at a few different stores.”
The Talk: “I always check multiple stores before placing a bet—you’d be surprised how much the odds can vary.”
More Talk: “That store offers the best odds for parlays, but another one has better spreads.”
Definition: In sports betting, a straddle occurs when a sportsbook sets the point spread or total in a way that makes it difficult for bettors to find value on either side. This often happens when the difference between the favorite and underdog spreads creates a wider range than usual, forcing bettors into less favorable odds.
Example: Suppose an NFL game between the Kansas City Chiefs and the Buffalo Bills has a point spread of Chiefs -3.5 and Bills +2.5 at different sportsbooks. This means if you bet on the Chiefs at -3.5, they need to win by 4 or more, while a bet on the Bills at +2.5 only wins if they lose by 2 or less. The gap between these numbers creates a "straddle," limiting opportunities for bettors to find an edge.
The Talk: “I was hoping to grab the Chiefs at -3, but the book straddled it with -3.5 and +2.5, making it way tougher to find value.”
More Talk: “You ever notice how sportsbooks set those sneaky straddle lines? Makes it a headache when you're trying to find the best number.”
Definition: A straight bet is a wager placed on a single outcome, such as a team covering the point spread, the moneyline, or the total points in a game.
Example: A bettor places a straight bet on the New England Patriots to win outright on the moneyline at -150, without combining it with other bets.
The Talk: "Straight bets are my go-to when I want to keep it simple. I usually stick with them instead of complex parlays."
More Talk: "Do you place a lot of straight bets, or do you mix in other types of wagers? They’re easy to manage, I think."
Definition: Strength of schedule refers to the difficulty level of a team’s opponents, often used to evaluate a team’s performance and predict future outcomes based on the caliber of competition.
Example: A bettor analyzes a team’s strength of schedule, noting that the Green Bay Packers have faced weaker opponents early in the season but have tougher games ahead.
The Talk: "I always consider the strength of schedule when betting on teams—it helps me understand how tough their matchups are."
More Talk: "Have you been tracking strength of schedule for this season? It’s a useful metric for predicting team success."
Definition: A group of professional bettors who work together to place large wagers, often using complex strategies and data models.
Example: A betting syndicate might place millions on an early line, forcing sportsbooks to adjust the odds before the public even notices.
The Talk: “That line moved fast—looks like a syndicate hit it hard.”
More Talk: “Most big syndicates operate quietly, but you can tell when they’re making moves.”
Definition: Betting on an underdog in a point spread bet, meaning the team doesn’t have to win outright, just cover the spread.
Example: If the Bears are +7, a bettor taking the points wins if the Bears lose by 6 or fewer, or win outright.
The Talk: “I’m taking the points with the Titans—they always keep games close.”
More Talk: “Sometimes it’s smarter to take the points than to bet the underdog to win outright.”
Definition: Betting on an underdog in a moneyline bet, meaning the bettor gets better odds but needs the team to win outright.
Example: If the Heat are +200, taking the price means betting on them to win straight up, turning a $100 bet into $200 profit if they win.
The Talk: “I’m taking the price on the Rangers—solid value at +180.”
More Talk: “If you believe in the underdog, taking the price can pay off big.”
Definition: To follow someone else’s bet, usually based on trust in their expertise or analysis.
Example: A recreational bettor might tail a professional bettor’s pick on the Celtics to cover the spread.
The Talk: “I wasn’t sure about this game, so I just tailed the sharp money.”
More Talk: “If you tail a bet, make sure you understand why—it’s not always a lock.”
Definition: A team prop is a bet placed on a specific team’s performance in a game, such as the total number of points scored, the number of turnovers, or other team-related statistics.
Example: A bettor places a team prop bet on the Dallas Cowboys to score over 24.5 points in their upcoming game.
The Talk: "Team prop bets are great when you want to focus on a team’s performance rather than just the final result."
More Talk: "Do you like betting on team props, or do you prefer individual player bets?"
Definition: Team statistics are the numerical data used to evaluate a team’s performance, including metrics like average points scored, yards gained, or defensive efficiency.
Example: A bettor examines the New Orleans Saints’ team statistics, such as their rushing yards per game, to decide whether they’ll cover the spread against the Seattle Seahawks.
The Talk: "Team statistics are essential when analyzing a matchup. I always check how teams have been performing across various metrics."
More Talk: "Do you focus on offensive or defensive team stats when making your picks, Mike?"
Definition: A team vs. team matchup refers to the head-to-head comparison between two teams, often analyzed by evaluating their performance metrics, playing styles, and historical results.
Example: A bettor compares the Minnesota Vikings’ running game to the Chicago Bears’ defense to determine who has the advantage in a team vs. team matchup.
The Talk: "Analyzing the team vs. team matchup is crucial—I like to focus on how each team matches up in key areas like defense and special teams."
More Talk:
"Mike, do you look at specific matchups, like team vs. team in certain areas? I find that it’s the best way to make a more accurate prediction."
Definition: A teaser is a type of bet where the bettor adjusts the point spread in their favor for multiple games, in exchange for lower potential payouts.
Example: A bettor places a 6-point teaser bet, moving the spread for two NFL games: the New England Patriots +3 to +9 and the Los Angeles Rams +4 to +10.
The Talk: "Teasers are fun because they give you a bit of an edge on the spreads, but you have to hit every leg of the bet."
More Talk: "Do you like teaser bets? I prefer them when I’m not sure about one game but want to improve the odds on others."
Definition: Teaser odds are the adjusted odds on a teaser bet, where the bettor moves the spread in their favor, and the sportsbook compensates by offering lower payouts.
Example: A bettor places a 6-point teaser with adjusted odds of +180 for two football games, meaning a $100 bet will pay $180 if both bets win.
The Talk: "Teaser odds are always a bit lower than straight bets, but they give you more chances to win across multiple games."
More Talk: "How often do you use teaser odds for football games? I think they’re a nice way to increase your chances without risking too much."
Definition: When a bettor makes emotional, reckless wagers after a bad loss, trying to recover quickly without proper strategy.
Example: A bettor who loses a big bet and immediately wagers twice as much on the next game without research is tilt betting.
The Talk: “I went on tilt after that brutal loss—should’ve just walked away.”
More Talk: “If you feel yourself tilt betting, take a break before things get worse.”
Definition: Advice or recommendations given by bettors, handicappers, or insiders on what to wager on, often based on analysis, trends, or inside knowledge.
Example: A tipster might suggest betting on the Warriors -5 because of key injuries on the opposing team.
The Talk: “I got a great tip from a pro bettor—let’s see if it pays off.”
More Talk: “Be careful with betting tips—some are solid, but others are just hype.”
Definition: A tipster is an individual who provides sports betting advice or predictions, often sharing tips or selections based on their knowledge and expertise in the field.
Example: A bettor follows a tipster’s recommendation to bet on the Miami Heat to cover the spread, based on the tipster’s analysis of the team’s recent form.
The Talk: "I’ve been following a tipster for NFL picks—they’ve been pretty accurate, so I’m going to trust their advice this week."
More Talk:
"Do you ever follow tipsters, Mike? Sometimes they have great insight, but I’m always a little skeptical."
Definition: A tout is a person or service that sells sports betting picks, often offering predictions for a fee. Touts can be professional handicappers, but their advice is often marketed heavily to the public.
Example: A bettor subscribes to a tout service that offers NFL game predictions in exchange for a monthly fee.
The Talk: "I’m not always convinced by touts, but I’ve been following one lately to see if their picks are any good."
More Talk: "Do you follow any touts for sports betting? I like doing my own research, but I’m curious if their picks are worth paying for."
Definition: A trap game refers to a matchup where the favorite seems to have a significant advantage, but external factors, such as team fatigue or an underperforming opponent, make the game deceptively tricky for the favored team.
Example: A team like the Kansas City Chiefs might be a heavy favorite against a struggling opponent, but if they are coming off a big emotional win, it could be a trap game for them, leading to a potential upset.
The Talk: "Trap games are so tricky. Even though the Chiefs are favorites, I’m wary because they’re coming off a huge win last week."
More Talk: "Have you ever bet on a trap game? It’s tough, but sometimes those surprise losses happen when you least expect it."
Definition: Statistical patterns in sports betting that bettors use to make decisions, often based on historical performances in similar situations.
Example: A bettor might follow a trend that teams playing their third road game in five days only cover the spread 38% of the time.
The Talk: “The trends say home dogs cover over 60% of the time in this spot—I’m betting accordingly.”
More Talk: “Trends are helpful, but they’re not guarantees—always check the matchup too.”
Definition: True odds reflect the actual probability of an event occurring without the sportsbook’s built-in margin or juice, representing the fair odds for a given outcome.
Example: The true odds for a coin toss landing heads might be 1:1 (50% chance), but the sportsbook may offer -110 odds, building in a margin to ensure they make a profit.
The Talk: "True odds are what I really want to see when evaluating a bet—it’s important to know the actual chances of an outcome happening."
More Talk: "Do you ever compare the true odds to the sportsbook’s odds? It helps me spot value bets when the sportsbook’s line seems off."
Definition: An underdog is a team or player expected to lose a game, as indicated by positive odds or a point spread where they are given a disadvantage.
Example: The Miami Dolphins are considered the underdog in a matchup against the New England Patriots, with odds of +250, meaning a $100 bet pays $250 if they win.
The Talk: "I love betting on the underdog, especially when the odds are as high as +250. It feels great when they pull off an upset."
More Talk: "Mike, do you prefer betting on favorites or underdogs? I’ve found some great value in betting on underdogs recently."
Definition: Underweighted refers to a situation where a factor or outcome is given less importance or consideration than it deserves, potentially leading to inaccurate predictions or missed value.
Example: A team’s recent form might be underweighted in the sportsbook’s odds, causing bettors to overlook valuable betting opportunities on that team.
The Talk: "I think the team’s recent form is underweighted in the odds—they’ve been performing much better than expected, and I’m jumping on it."
More Talk:
"Have you noticed any teams being underweighted in the lines this season? I’ve found some great bets when the odds don’t fully reflect their current performance."
Definition: A unit is a standardized measure of a bettor’s stake or bet size, typically used to represent a percentage of a bettor’s bankroll. Betting in units helps to manage risk and consistency.
Example: A bettor uses 1 unit to represent 2% of their bankroll and places a 2-unit bet, risking 4% of their total bankroll on a high-confidence wager.
The Talk: "I bet in units to keep my bankroll management consistent. It helps prevent large swings in my betting."
More Talk:
"Do you use units for your bets? I think it’s a great way to control risk, especially when betting on high-variance games."
Definition: An unmatched bet is a wager placed by a bettor that has not yet been accepted or matched by another party in the market, usually because the odds are not appealing to other bettors.
Example: A bettor places an unmatched bet on the Detroit Lions to cover a 3-point spread at -110, but no one else has yet matched the bet, leaving it unfilled.
The Talk: "I placed an unmatched bet on the Lions to cover. Let’s see if the market adjusts, but I’m confident the line will move."
More Talk: "Have you ever placed an unmatched bet? It’s kind of like setting the price and hoping someone agrees."
Definition: Variance in sports betting refers to the degree of fluctuation in the outcomes of bets over time. Higher variance indicates more unpredictability and larger swings in potential results.
Example: A bettor on a high-variance sport like basketball may experience frequent ups and downs in their results due to factors like injuries, player performance, and game pace.
The Talk: "I try to minimize variance in my bets by sticking to sports with more predictable outcomes."
More Talk: "How do you handle variance, Mike? I know some bettors embrace it, but I like to bet with less fluctuation."
Definition: Vig, short for vigorish, is the commission or fee taken by the sportsbook on each bet, often built into the odds to ensure the book's profit.
Example: A bettor places a $100 bet on a football game with -110 odds, meaning they must risk $110 to win $100, with the extra $10 going to the sportsbook as vig.
The Talk: "I hate paying vig on bets, but it’s just part of the game. At least it’s relatively small on most straight bets."
More Talk: "Mike, do you ever shop around for lower vig lines? I try to find bets with as little vig as possible to maximize my profit."
Definition: A void bet is a bet that is canceled or considered invalid due to certain circumstances, such as a game being postponed, a player being ruled out, or a betting error.
Example: A bettor places a bet on an NBA game, but the game is postponed due to unforeseen circumstances, causing the bet to be voided, and the stake is refunded.
The Talk: "It’s always a bummer when a bet gets voided, but at least I get my money back."
More Talk: "Have you had a bet voided recently? It’s annoying, but I’m glad sportsbooks refund your stake when it happens."
Definition: A general term for placing a bet on a sporting event.
Example: A bettor might say, “I placed a $500 wager on the Chiefs to cover the spread.”
The Talk: “What’s your wager tonight? I’m thinking about taking the over.”
More Talk: “A smart wager isn’t just about picking the winner—it’s about getting the best odds.”
Definition: Win probability is the estimated likelihood that a team or player will win a game or event, usually expressed as a percentage, often calculated based on historical data, team statistics, and other relevant factors.
Example: A sportsbook calculates the win probability for a soccer match, giving Barcelona a 75% chance of winning based on their recent form and the opponent’s performance.
The Talk: "Win probability is a great tool to use when evaluating matchups—it helps me understand whether the odds are offering good value."
More Talk: "Do you look at win probability when betting, or do you just go with your gut? I like having some data behind my bets."
Definition: A key statistic in football betting that measures the average number of yards a team gains per offensive play.
Example: If the Chiefs average 6.5 yards per play and the Raiders only average 4.2, that suggests the Chiefs have a more efficient offense.
The Talk: “Before betting the total, check a team’s yards per play—it tells you a lot about offensive efficiency.”
More Talk: “Yards per play is a hidden gem in football betting—better than just looking at points per game.”
Essential Bet Type
Power Words
Live Betting
Parlay
Prop Bet
Power Words takes a closer look at a complex but essential term that many bettors find confusing. Check out the videos for a deep dive into these head scratchers.
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