Football Betting Terminology
NFL Betting terminology can sound confusing – just ask any novice bettor who has spent time in a Las Vegas sportsbook or listened to a football talk show on the radio.
Matched Bet – When a bettor uses free wagers from a sportsbook operator to increase potential profit. This is a popular technique employed in new legal US sports betting markets as promotional offers are available. Nickel – Placing a $500 wager. A “Dime” is a $1,000 wager. Novelty Bet – Placing a wager on a non-sports event with a. In-play betting is a form of betting that has become hugely popular through online betting sites, which involves placing a bet on a particular outcome after the event has started. Betfair offers in-play betting for several sports including in-play football betting and in-play Horse Racing betting.
To the uninitiated, it can sound like the “handicappers” (outcome predictors), “sharps” (pro gamblers) and “touts” (NFL pick sellers) are speaking another language when they talk shop.
The good news is, they aren’t. Understanding NFL wagering terminology is actually quite simple when everything is explained properly. Here is a glossary of some common NFL Wagering terminology to help with your bets this season. For more information, click on the NFL wagering term in question or visit one of our recommended sportsbooks.
NFL terminology
POINT SPREAD
Commonly called ‘the spread’, the point spread is the number of points that the Vegas favorite has to win the game by in order to win the bet. For example, say the Patriots are 4.5 point favorites over the Dolphins – New England has to win the game by 5+ points to pay out, while a wager on Miami pays out with anything better than a 4 point loss. Point spreads are commonly used to even the playing field in sports with high scores, such as American football and basketball.
ATS – AGAINST THE SPREAD
One of the more common terms used by NFL bettors, ATS, or against the spread, refers to a team’s record measured against the spread. Instead of tracking wins and losses, ATS looks at a team’s propensity for covering the spread. For example, last season the Cleveland Browns failed to win a game at 0-16, but finished 4-12 ATS – this means that there were 4 games in which they lost by less than the point spread, and actually paid out for their backers that week.
STRAIGHT-UP
Straight up refers to a fixed price win-loss wager, with no point spread. When betting straight up, bettors get less return for betting on favored teams, but the bet becomes easier to win. A teams straight-up record is simply it’s win-loss record, ripped directly from the standings. Straight-up bets can pay out a lot when underdogs win, but typically are used in “pick-em” games or games with a small point spread.
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OVER AND UNDER
Over and under are signifiers attached to a specific point total, with the purpose being to predict which side the outcome will fall on. A typical over/under wager will consist of bettors predicting whether the combined score of a game exceeds a particular number. For example, if the total is set at 41.5, bettors must decide whether to bet the over (>42 points) or the under (<41 points). Over and under bets can also be applied to a single team point total, a single quarter point total, a player’s individual rushing yardage and so on.
FAVORITE
In NFL wagering terminology, as with other forms of betting, the favorite refers to the expected winner. In the NFL, the favorite is the team that lays points, meaning that they will have to cover a certain amount in order to pay out. For example, if you see Seahawks -3.5, Seattle is a 3.5 point favorite – not only will they have to win their game, but they will have to win by 4+ points. When looking at moneyline odds, the team with the negative number, or greatest negative number, is the favorite.
UNDERDOG
The underdog is the team considered least likely to win – the opponent of the favorite. In NFL wagering, the underdog will be given points, and will be listed with a positive number next to their name. An example of this would be Cowboys +4.5 – this means that the Cowboys pay out as long as they don’t lose by 5 points or more, even if they lose the game. In moneyline bets, underdogs typically have a positive number next to their name (Dallas +145, for example).
NFL HANDICAPPING
NFL handicapping can refer to two similar, yet distinct, practices, both related to predicting outcomes. There are NFL handicappers who are employed by Las Vegas sportsbooks and work as, or with, oddsmakers. In this version of NFL handicapping, advanced models and knowledge are used to predict the outcome of a game, and this information is then used to set the lines/point spread. Outside of Vegas, NFL handicapping is an attempt to predict results, then use the acquired information to find and exploit errors in the Las Vegas lines.
Like many other industries, the sports betting world has its own jargon and many terms, lingo can be confusing. Our Sports Betting 101 Glossary provides a quick and simple definition of often-used terms that you may read on VegasInsider.com or hear at your local sportsbook.
Sports Betting Resources and Terms
Action: Any bet.
Added Game: A matchup that is not part of the daily betting rotation. 'Added Games' are often make-up or rescheduled games that were expected to be played on a previous date. In pro baseball, it's likely Game 2 of an unscheduled double-header from a rainout.
Alternate lines: Some sportsbooks may offer different (or alternate) point spreads that pay different odds for the same game. These provide bettors more options to wager on certain games.
ATS: Against the spread
Arbitrage: Savvy bettors who try to scalp the market by playing both sides of a particular matchup, with hopes of cashing a middle. The hope is to guarantee getting money back regardless of the outcome.
Bankroll: The total amount of money a bettor can spend on a betting app.
Beard: Messenger bettor, used at brick and mortar casinos and sportsbooks if the real bettor wishes to remain anonymous.
Beef: Dispute
Betting Trends: Stats that show the total amount of money wagered on a game
Buck: $100
Buying Points: Paying additional money to move the point-spread in a direction of your preference. Often used in football, bettors will buy 'on' or 'off' key numbers to avoid losing by a point or two.
Chalk: Favorite in a game by a large margin
Chalk Eater:Bettor who is known for betting on the favorites consistently
Churn: The effect of betting and rebetting money, similar to Arbitrage
Circle Game: Game where action is limited due to uncertainties about weather, injuries, etc
Football Betting Vocabulary
Cover: Win by more than the point-spread
Dime: $1,000
Dollar: $100
Dog: Abbreviation for Underdog, team expected to lose the game
Draw: A tie, used often in Soccer and sometimes in Boxing or Mixed Martial Arts
Earn: Practical hold percentage
Edge: Advantage
Even Money: When a selection has no juice or vig involved. A $100 wager will win $100, while normal wagers would make bettors lay $110 to win $100.
Exotic Bet: Action other than a straight bet or parlay, often unusual bets you won't see in many places. Can be listed under prop bets in sportsbooks.
Exposure: The amount of money the house actually stands to lose on a game or a race.
Extension: The amount of money the house theoretically will risk losing on a game or a race.
Favorite: The team in a sports betting matchup that is expected to win. In football and basketball, the favorite gives points while in moneyline sports, the favorite has to lay a higher price in order to cash a ticket.
Figure: Amount owed by or to a bookmaker
Football Betting Lines Explained
Firing: Betting a lot. A player who is 'firing' is wagering large sums
Fractional Odds: Not used commonly in the United States. These are odds used mainly in Europe. Odds are listed in fraction form (1/10) instead of as a moneyline (-100).
Futures: Wagers where bettors can invest in the future outcome of a team to win a particular event, even if it isn't in the near future. Example – bettors often choose a team to win the World Series or Super Bowl and receive higher payouts based on the numbers from the oddsmakers depending on how far out the event is.
Grand Salami: A popular NHL wager where bettors handicap the total number of goals scored in all games for one day. Some sportsbooks may offer alternate versions for home, away, or periods of games during the day. Some sportsbooks may offer a similar bet for runs in Major League Baseball but this is mostly used in hockey.
Gross Win: Win before expenses
Handicapper: One who studies sports and predicts outcomes of teams and players.
Handle: Total amount of bets taken
Hedge: Bet the opposite of your original wager in order to reduce the amount of action you have on a game
Hold: The percentage the house wins
Hook: Half point in point-spreads, as in 'lost by the hook'
Home Field Advantage: Edge the home team is expected to have as a result of familiarity with the playing area, favorable demographics and effect of travel on the visiting team
Hoops: Basketball
Hot Tip: Information the bookmaker is not yet privy to
In-Game Wagering: The ability to bet on a sporting event after the game has already started and until it concludes.Also known as live betting.
juice: Bookmaker's commission, most often refers to the 11 to 10 football bettors lay on straight wagers; vigorish
Key Numbers: Most often heard in pro football, the key numbers are the most common margins of the final outcome. The key numbers in the NFL are 3, 7 and 10 points.
Layoff Bet: A wager made by one bookmaker with another to help balance his action and reduce his potential risk or losses
Limit: Bet the opposite of your original wager in order to reduce the amount of action you have on a game
Line: The betting proposition on a game and/or payoff odds on the bet
Live Betting: See In-Game Wagering. Becoming more popular as most betting apps seem to have this feature now.
Lock: An easy betting win.
Long Shot: Large underdog
L3, L5, L10: Last Three, Last Five, Last 10
Marker: Credit offered at Casinos.
Moneyline: Used often in sports like baseball, hockey and soccer -- these odds are set on the straight up winner of the matchup. There is no point-spread with moneylines. Just pick the winner!
Middle: To win both sides of a game. For example, if you bet the underdog +3 1/2 and the favorite - 2 1/2 and the favorite wins by 3, you've MIDDLED the book. The book has BEEN MIDDLED.
Neutral Site: Arena, court or field where neither side has a home field advantage. For example the Super Bowl most years.
Nickel: $500
Odds: Numbers used to determine the favorite and underdog of a sporting match. Unless the game is a pick 'em, there is always a favorite or underdog.
O/U: Over/Under
Off the Board: Game where bets are no longer being accepted. This often happens when there is unknown about a key player's injury status.
Overlay: When the odds on a proposition are in favor of the bettor rather than the house
Parlay: A bet with two or more teams where all the teams must win for the bettor to be successful. The more events in a parlay, the more money there is to cash in on but the harder it becomes to win the wager.
Past Post: To make a bet after an event has started
Pick or Pick'em: A game where neither team is favored
Point-Spread: A number or line set by oddsmakers to provide an advantage or disadvantage based on the margin of victory or defeat for the teams in the matchup. There is always a favorite (-) and an underdog (+). The most popular type of betting in the United States, mainly used in both football and basketball.
Practical Hold Percentage: The amount won by a bookmaker divided by the total amount booked
Press: To bet a larger amount than usual
Public Dog: When betting trends lean heavily to an underdog
Public Trends: Betting Percentages showing money and ticket count for games
Puppy: Underdog
Push: Tie. The bettor doesn't win or lose money, almost as if the bet didn't happen (Parlays not included).
(ROI): Return on Investment.The amount of money you win on a wager, or your return on your investment or stake.
Reverse-Line Movement: When a line (point-spread) moves in the opposite direction of the betting percentages. Some pundits believe you can follow sharp money with reverse-line movement, especially when the trends and lines differ drastically.
Round Robin: A series of parlays. A three-team round robin consists of one three-team parlay and three two-team parlays
Rundown: Line update
Run-Line: A popular pro baseball wager where the favorite (-1.5) must win by two plus runs to win or the underdog (+1.5) must win or lose by less than two runs to win.
Runner: See Beard
Score: To win a lot of money
Scratch: Withdraw or cancel
Sharp bettors: Money wagered by bettors be that a sportsbook operator respects. Sharp money often comes from large wagers placed by professional bettors. It should be noted that not all large wagers are considered Sharp.
Side: To win one side and tie the other. For example, if you lay -2 1/2 and take 3 on the same game and the favorite wins by 3 you have SIDED the book. The book has been SIDED
Steam: When the odds change because of the money wagered on a game or participant is primarily one-sided for a team. Some bettors will chase the steam thinking the other bettors know something they may not but instead they are just mostly all following the trend.
Straight Bet: A bet on just one team
Sucker Bet: Bet with a large house edge
system: When bettors and handicappers develop angles based on historical or seasonal stats.
Take a Price: Bet the underdog, take the points
Tapped Out: Broke, busted, common result of pressing
Teaser: A wager used in football and basketball that allows bettors to combine two or more selections together while adjusting the points on those selections.
Tissue Price: The initial odds offered by the sportsbook. This price is usually considered a much fairer deal for the bettor.
Toke: A tip or gratuity
Toss Up: Game where the line is close to a pick-em and either side is expected to win.
Tout Service: A business that sells opinions on sporting events
Trend: Daily, Weekly and Seasonal angles that bettors and handicappers often follow or fade in their wagers.
Triple Sharp: The sharpest of the sharp, (Note: There is no such term as 'Double Sharp')
Unit/s:Amount bet on a game.
Wager: A bet
Win Totals: A future wager that allows bettors to handicap the number of victories and losses of a team during the course of a regular season.
Underdog: The team in a sports betting matchup that is not expected to win. In football and basketball, the underdog receives points while in moneyline sports, the 'dog can net a positive return if it wins.
Underlay: When the odds on a proposition are in favor of the house
Value: An overlay
Wire-to-Wire Commonly seen in the NBA, a bet where a team will lead after every quarter for the entire game.