The world of sports betting has a unique language that can sound like complete gibberish to a newcomer. Before you can start locking in winners and building your bankroll, you need to understand the betting terminology the sportsbooks use. Whether you are looking at a moneyline, trying to cover the spread, or putting together a massive accumulator, knowing exactly what these words mean is the first step to becoming a sharper bettor.
Here is The Parlay Mountie’s ultimate glossary to the most common sports betting terms you need to know before you place your next wager.
The Basics: Standard Betting Terms
Moneyline A moneyline bet is the simplest form of sports wagering available. It is a straightforward bet where you are simply picking which team or individual player will win the game or event outright. The odds are typically expressed with plus (+) and minus (-) signs. The favorite will have a negative number (e.g., -150), meaning you have to bet $150 to win $100. The underdog will have a positive number (e.g., +140), meaning a $100 bet will win you $140.
Point Spread (or The Spread) This is the most popular way to bet on sports, especially in North America. The point spread represents a margin of victory set by the oddsmakers to balance out an unevenly matched game. If you bet on the favorite, they must win by more than the specified number of points to “cover the spread”. If you bet the underdog, they can either win the game outright or lose by fewer points than the spread for your bet to cash.
Over/Under (Totals) An Over/Under bet allows you to wager on whether the total combined score of a game will be higher (over) or lower (under) than a predetermined number set by the sportsbook. This is a great way to wager on the flow and pace of a game rather than trying to predict which team will actually win.
Prop Bet (Proposition Bet) Short for proposition bets, these are wagers on specific outcomes or events within a game that do not necessarily correlate with the final outcome. Common examples include player props (e.g., “Will Auston Matthews score a goal?”) or game props (e.g., “Which team will score the first touchdown?”). Props are often offered on high-profile marquee games.
Combining Bets: High Risk, High Reward
Parlay A parlay is a single bet that links two or more individual wagers together. To win a parlay, every single bet (or “leg”) within the parlay must win. If even one selection loses, the entire bet is graded as a loss. Because of the increased risk, parlays offer significantly higher potential payouts than placing those same bets individually.
Accumulator (Acca) An accumulator is simply the term used outside of North America (primarily in the UK and Europe) for a parlay. It typically refers to a multiple bet containing four or more selections. Just like a parlay, all legs must win for the accumulator to pay out.
Same Game Parlay (SGP) As the name suggests, a Same Game Parlay allows you to combine multiple bets from the exact same game into a single parlay ticket. For example, you could bet on a team to win the game, the game to go over the total points, and a specific player to score, all combined into one wager.
Bet Builder A Bet Builder is a specific tool or feature offered by many modern online sportsbooks that allows you to easily construct these Same Game Parlays or multiple bets across various markets. The Bet Builder interface helps you juggle multiple selections and instantly calculates your new combined odds as you add more legs to your wager.
Teaser A teaser is a specific type of parlay wager commonly used in football and basketball. It allows the bettor to adjust the point spread or total on multiple games in their favor. For example, you could move a football spread from -7.5 down to -1.5. The trade-off for getting these more favorable numbers is a lower potential payout compared to a standard parlay.
Insider Lingo
Action: Slang for simply having a wager placed on a specific game or event.
Chalk: Betting on the heavy favorite.
Dog: Short for the underdog; the team perceived as most likely to lose the game.
Push: A tie. When the result lands exactly on the point spread or total, the bet is graded as a push, and your original stake is refunded.
Sharp: A skilled, professional bettor who makes well-researched, mathematically sound wagers.
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