Action:
A bet or wager.  To have action means to have a bet.

Action Points:
Wager that allows a player to bet a point spread contest and be rewarded or charged for the number of points above or below the point spread that his team covers.  The player gets paid for every additional point the selected team covers or gets charged for every point the team doesn’t cover.


Against the spread:
Wager that allows a player to bet a point spread contest and be rewarded or charged for the number of points above or below the point spread that his team covers.  The player gets paid for every additional point the selected team covers or gets charged for every point the team doesn’t cover.


Bet Limit:
Maximum bet size accepted by a sportsbook on a particular line.


Board:
A board is a listing of lines/games available in a sportsbook.


Bookmaker or Book:
A person or company that takes bets.  A sports wagering office, also known as a “sportsbook”.


Circled:
A game on which a sportsbook has placed a lower limit on the maximum bet size, because of uncertainties (such as weather conditions, injuries, starters not playing, etc) that make the game hard to predict.


Cover:
Term that is related to the point spread.  When a team wins by more points than the point spread it is said to have “covered the spread”.  For a player, a wager that has “covered” would mean they won their wager.


Dime:
Slang used for a wager of a $1,000.00


Dollar:
Slang used for a wager of a $100.00


Even Money:
Betting 1 to 1 (i.e. risk $1.00 to win $1.00) without laying any juice.  Even money is also read as “EV” or as “PK”.


Exotic Bet:
A bet other than the more conventional side or total bets.  Can encompass bets like parlays, teasers, if bets, etc.


Favorite:
Team most likely to win the game according to lines makers.


Fifty Cents:
Slang used for a wager of $50.00


Future:
Bets placed far in advance of the sports event taking place.


Get:
Point spread of the underdog team (positive); or the amount of money the customer can win on a wager.


If Bet:
Wager that consists of two (2) to five (5) straight bets joined together by an “if clause”.  That is, if the player’s first play complies with the condition, then the second wager becomes active and it is processed; if the second play complies with the condition, then his third bet is activated and so on.  There are two types of if bets: single action where the condition of the if clause is “IF Wins Only”; and double action where the condition of the IF CLAUSE is “IF Wins, Ties or the game is Canceled”.


Juice:
The amount charged by the bookmaker for taking bets; the sportsbook’s commission.  Also known as “vigorish” or “vig”.


Lay:
Point spread of the favorite team (negative); or the amount of money at risk on a wager.


Lines:
Odds or point spread for a specific game or event.  It shows how many points a team should win by or an estimate of the total points that will be scored by both teams.  Lines show information on which team is the favorite or the underdog, point spread, money-line, totals, etc.


Matchup:
A bet based in which one individual competes head-to-head against another individual or a group of individuals.  The matchup can be based on a real-life match where one individual will compete against the other (i.e. a tennis matchup) or it can be based on a fictional match (i.e. a car racing matchup) where  all individuals participating are attempting to win the event but bets are made on how one individual will perform when compared to another.  Odds for matchup betting are typically posted using a money line.


Money Line:
Odds for a team to win without using a point spread, just using the straight-up game outcome with no consideration for a point spread.   More money must be risked to bet the better team; less money on the weaker team.


Nickel:
Slang used for a wager of $500.00


Off the Board:
If a game is off or off the board, players can no longer place bets on it.  When a game is off the board it usually is because the game has already started, but it can also be because there is a major uncertainty due to the weather conditions or an injury to a main player.


On the Board:
A game that is currently available to place bets on.


Over-Under:
Related to wagers on the total of a game.  Another way to say “total”.  To place a bet that the final combined score of both teams in a game will surpass or fall short of the over/under total proposed in the line.


Parlay:
Parlays are wagers that consist of two (2) to eight (8) selections of teams combined together into a single play.  One loss constitutes a losing parlay and a tie reverts the parlay to the next lower amount of teams in the parlay.  The more teams put into a parlay the larger potential payout for the player.


Pick ’em or PK:
When neither team is favored, there is no favorite or underdog.  A match with no point spread.


Point Spread:
Also known as “spread”.  A line put on a game in order to define the favorite and the underdog.


Proposition Bet:
Wagers that are placed on specific events that take place during a game (i.e. how many touchdowns will be scored).  Also known as “prop bets”.


Push:
When there is a tie.  The result of a tie in a bet is known as "no action".  All monies are returned as if the bet had never been made.


Quarter:
Slang used for a wager of $25.00.


Reverse Bet:
Wager that consists of a selection of two (2) to five (5) straight bets joined together into all possible combinations of 2-team if bets that work in both directions of the if clause.  The risk is the same for every the wager in the reverse bet.


Risk:
The amount of money a customer is risking on a wager.  The term “lay” can also be used.


Round Robin:
Wager that consist of three (3) to seven (7) selections of teams made into all possible combinations of 2 or 3 team parlays.  The same risk amount goes to all combinations.


Rundown:
An update, often verbal, of the schedule of games/lines on the board.


Side:
Term used to refer to taking one of the teams in a game in a bet.  The odds or point spread for the teams of a specific game.  To bet on a single team to win a game against the spread (ATS).


Special Teaser:
Wager that consists of three (3) or five (5) team selections joined together into a single play, where a certain number of points is added or subtracted to each selected side or total in order to improve the customer’s chances of winning.  Players receive a greater amount of points than on a regular teaser.


Straight Bet:
A straight bet is a single wager on one team (side) to win or a total to go over or under, whose outcome for wagering purposes is determined by a point spread and/or money line odds.  Straight bets are used in all sports events.


Teaser:
Wager that consists of two (2) to seven (7) selections of teams joined together into a single play, with just one risk amount, where a certain number of points is added or subtracted to each selected side or total in order to improve the player’s chances of winning.


Total:
Projected number of points to be scored on a game by both teams according to line makers.  Wagers can be on the game going over or the under the projected total.  Betting on the over or under is referred to as “betting totals”.


Underdog or Dog:
Team most likely to lose the game according to line makers.


Wager or Play or Piece:
A bet.  To risk money on the outcome of an event.


Win:
The amount of money a customer will receive if the wager placed is a winner.  The term “get” can also be used.