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Sports Betting Terminology

By GamblingKingz editorialPublished Updated

Know the lingo; place your bets knowing the meaning of betting terms. Our sports betting glossary contains some of the terms you will come across when visiting any Canadian online bookmaker. Learn the phrases and how they are used when betting on sports games. It's common knowledge in the betting world that understanding how the game works increases a player's chances of coming out on top.

Market
Canada
Currency
C$ CAD
Open markets
Ontario · Alberta
Operators checked
17

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Reinvigorate your understanding of betting vocabulary to increase your chances of hitting a winning ticket today. We serve the lingo of horse racing, football, rugby and, really, every sport under the sun. For all you risk takers who want to go where the money is and place your first bet, this guide is for you.

Betting Terms Explained

Words related to betting: 'spread', 'money line', 'parlay'. It's very important that you understand these terms. A lot of guys who are new to this find it overwhelming at first, but after a while they get it. They're a lot more comfortable and have a lot more understanding of what they're doing when they place bets after they've practiced and know these terms inside and out.

A-H

  • Accumulator – this term refers to the collective bet that features two or more bets in a single bet slip.
  • Ante-post – this relates to the early market bets offered before the competition begins.
  • Betting Line – refers to the odds on a match that determine the favourites and the underdog in a tie.
  • Buy points – this bet entails paying more than what the sportsbook’s predetermined to move the point spread to a custom betting line.
  • Chalk – the team pegged as the favourites to win.
  • Cover – this reflects the scenario in which the favourite team wins the match by a bigger margin than described in the handicap or spread bet.
  • Double bet – also known as doubling up, when a player wagers twice the value of the bet to take advantage of the odds.
  • Draw – when a match ends in a tie after regulation time.
  • Edge – relates to the advantage that a bettor has from having knowledge about how the result will go.
  • Exposure – refers to the value attached to a potential loss in a match.
  • Favourite – this is the individual or the team that is perceived to have the best chance to win the match.
  • Future – this refers to wagers on the winner of the competition before the event begins.
  • Grand Salami – this refers to the bet on the total number of goals that will be scored in all the games in a single league round of matches.
  • Handicap – this refers to the point margin given to the underdog in a match that is intended to level the playing field.
  • Hedging – this refers to placing a bet on the opposite side after having placed a wager on a different side to ensure that you do not lose.

I-W

  • In-play betting – the process of placing bets on the outcome of the game after it has already started playing. It is also known as live betting.
  • Juice – this is the portion that the sportsbook charge for the allowing players to bet online.
  • Limit – reflects the maximum bet that is allowed on a specific line.
  • Lock – a situation in which a selected bet is considered an obvious win.
  • Money Line – refers to a wager on the outcome of the game to be either win, lose or draw.
  • Odds – indicates the probability of the outcome of a match.
  • Outright bet – betting on the winner of a tournament.
  • Pari-mutuel – this refers to a wager amongst bettors as opposed to against a sportsbook.
  • Parlay – the process in which the betting calculator adds extra bets onto a single bet slip to improve the odds.
  • Stake – to risk your money wagering on a sports event.
  • Teaser – a specific selection of parlay bets that are combined in a single ticket to attract players to wager online.
  • Total – the aggregate amount of goals or points in a match in which bettors predict the match will end. It is also known as the betting terms over-under.
  • Underdog – the team or player pegged the less likely to win in a tie.
  • Wiseguy – a term used to refer to a well-informed or knowledgeable bettor or handicapper.

Checked and kept current by the GamblingKingz desk

Last checked

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  • every offer against the terms the operator itself publishes
  • the cashier page for the methods, limits and fees it lists
  • provincial rules against the regulator’s own pages

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Betting should stay a game

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