For new bettors, some of the terminology might be overwhelming. These key terms cover all of the common betting terms that you need to know when starting out.
1. American Odds- The odds are listed in this form: -100 or +100
2. ATS- Against the spread
3. Bankroll - Total amount of money you have across all of your betting accounts or funds you have set aside solely for betting.
4. Chalk - The favored team or result
5. Cover - When one team wins by more points than the listed spread or comes within a certain amount of points of the listed spread in the case where they are the underdog.
6. Handicap - Refers to the spread. A handicap is given to the team that isn’t favored as they’re deemed weaker.
7. Favorite - The team expected to win the game. In American odds, this is indicated by the team with the “minus sign in front” (Example: -150)
8. Teaser - A bet where you can change the spread and/or total in exchange for a lower/altered payout.
9. Push - When the game result exactly matches up with what the spread or total was listed at.
10. Underdog - The team that is not expected to win the game. In American odds, this is indicated by the team with the “plus sign in front” (Example: +150). Also note that sometimes the underdog also has a minus sign in front in rare cases, but you can identify that they are the underdog because they have higher/larger odds than the other team.
11.Units - Refers to the amount of your “standard” or “typical” bet. Usually, bettors’ units are 1-5% of their bankroll.
12. Wager - Another name for a bet
13. Vigorish/Juice - The percentage or cut the sportsbook takes from each bet/wager.
14. How to place a bet - To place a bet, select which game you’d like to place a wager on. Next, select within the betting cell (on mobile or web). Be careful to select the desired outcome, and then this bet should pop up as your bet slip. Enter the amount you’d like to wager, and then click “Submit” or “Place Bet”.
15.Where to place a bet - You can place a bet at any online sportsbook, mobile sportsbook, or in-person sportsbook.
16. How much to bet on/Bankroll - You can choose to wager as much or as little as you’d like; however, there are recommended amount per play is anywhere between 1-2% of your bankroll, depending on your confidence level.
Now that you know all of the key betting terms, you should be able to place your bets effectively with full accuracy
