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NFL Betting Terminology: Key Terms You Need to Know
Navigating the world of NFL betting can be challenging if you’re not familiar with the terminology. This guide will help you understand the key terms and phrases commonly used in NFL betting, enabling you to place bets with confidence and clarity.
Key NFL Betting Terms
- Action
- Against the Spread (ATS)
- Bankroll
- Bookmaker (Bookie)
- Chalk
- Closing Line
- Cover
- Dime
- Dog
- Edge
- Even Money
- Exposure
- Favorite
- Fixed Odds
- Futures Bet
- Hedging
- Juice (Vig)
- Limit
- Line
- Live Betting (In-Game Betting)
- Lock
- Middle
- Moneyline
- Off the Board (OTB)
- Over/Under (Total)
- Parlay
- Pick ‘Em
- Point Spread
- Prop Bet (Proposition Bet)
- Public Betting
- Push
- Sharp
- Square
- Steam
- Teaser
- Ticket
- Underdog (Dog)
- Unit
- Wager
Detailed Explanations
- Action: Any bet or wager placed on a game or event.
- Example: “There’s a lot of action on the Monday night game.”
- Against the Spread (ATS): Betting on the point spread rather than the outright winner.
- Example: “The Patriots are 5-2 ATS this season.”
- Bankroll: The total amount of money a bettor has available to wager.
- Example: “Manage your bankroll wisely to avoid losing it all.”
- Bookmaker (Bookie): The person or organization that accepts and pays out bets.
- Example: “Place your bets with a reputable bookmaker.”
- Chalk: The favorite in a betting matchup.
- Example: “The Chiefs are the chalk in this game.”
- Closing Line: The final betting line before the game starts.
- Example: “The closing line for the game was -7.5.”
- Cover: When a team wins by more than the point spread.
- Example: “The Packers covered the spread by winning by 10 points.”
- Dime: A $1,000 bet.
- Example: “He placed a dime on the underdog to win.”
- Dog: Short for underdog, the team not favored to win.
- Example: “The Browns are the dog in this matchup.”
- Edge: An advantage a bettor has over the bookmaker.
- Example: “He has an edge because he knows the teams well.”
- Even Money: A bet with no juice, where the payout is the same as the amount wagered.
- Example: “Bet $100 to win $100 at even money.”
- Exposure: The amount of money a bookmaker stands to lose on a game.
- Example: “The book has a lot of exposure on the Super Bowl.”
- Favorite: The team expected to win, indicated by negative odds.
- Example: “The Patriots are the favorite at -150.”
- Fixed Odds: Betting odds that do not change after the bet is placed.
- Example: “He placed his bet with fixed odds of +200.”
- Futures Bet: A long-term bet on an event occurring in the future.
- Example: “He made a futures bet on the Rams to win the Super Bowl.”
- Hedging: Placing bets on the opposite side of an original bet to minimize risk.
- Example: “He hedged his bet to ensure a profit.”
- Juice (Vig): The bookmaker’s commission, usually expressed as a percentage.
- Example: “The juice on this bet is -110.”
- Limit: The maximum amount a bookmaker will accept on a bet.
- Example: “The betting limit for this game is $5,000.”
- Line: The point spread or odds on a game or event.
- Example: “The line for the game is set at -3.”
- Live Betting (In-Game Betting): Placing bets on a game while it is in progress.
- Example: “Live betting allows you to place wagers during the game.”
- Lock: A bet that is considered a guaranteed winner.
- Example: “He thinks the Chiefs are a lock to win.”
- Middle: Betting both sides of a game to win both bets if the final score falls in between.
- Example: “He middled the game and won both bets.”
- Moneyline: A bet on the outright winner of a game, regardless of the point spread.
- Example: “He took the Patriots on the moneyline at -200.”
- Off the Board (OTB): A game that is not available for betting.
- Example: “The game was taken off the board due to player injuries.”
- Over/Under (Total): A bet on whether the total points scored will be over or under a set number.
- Example: “The over/under for the game is 48.5 points.”
- Parlay: A single bet that links multiple bets together, all of which must win for the parlay to pay out.
- Example: “He placed a parlay with three teams to win.”
- Pick ‘Em: A game with no point spread, where either team can be chosen to win.
- Example: “It’s a pick ’em game between the Saints and the Falcons.”
- Point Spread: A handicap to even the odds between two teams.
- Example: “The point spread is -7 for the Eagles.”
- Prop Bet (Proposition Bet): A wager on specific occurrences or non-occurrences within a game.
- Example: “He made a prop bet on who would score the first touchdown.”
- Public Betting: The betting behavior of the general public.
- Example: “Public betting is heavy on the Cowboys this week.”
- Push: A tie between the bettor and the bookmaker, resulting in no win or loss.
- Example: “The game ended in a push, so he got his money back.”
- Sharp: A knowledgeable and successful sports bettor.
- Example: “The sharps are betting on the underdog.”
- Square: A casual or inexperienced bettor.
- Example: “Squares often bet on favorites and overs.”
- Steam: Rapid movement in the betting line due to heavy betting.
- Example: “There was steam on the underdog, causing the line to move.”
- Teaser: A bet that allows you to adjust the point spread or total in your favor.
- Example: “He placed a teaser bet adjusting the spread by 6 points.”
- Ticket: A record of a bet placed.
- Example: “Keep your ticket as proof of your bet.”
- Underdog (Dog): The team not favored to win, indicated by positive odds.
- Example: “The Jets are the underdog at +200.”
- Unit: A standard bet size based on a percentage of your bankroll.
- Example: “He bets 1 unit on each game.”
- Wager: Another term for a bet.
- Example: “He placed a $100 wager on the game.”
Conclusion
Understanding these key terms is essential for navigating the world of NFL betting. By familiarizing yourself with this terminology, you’ll be better equipped to place informed bets, understand betting strategies, and engage more deeply with the excitement of NFL games. Happy betting!
