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The advantage a bettor has before placing a wager, typically arising from a perceived discrepancy between the true odds and the odds offered by the bookmaker. Example: A bettor may have an edge if they believe the chance of a team winning is greater than the implied probability of the bookmaker's odds.

Bets placed on events that will happen in the future, often weeks or months in advance. Example: Betting on a team to win the Super Bowl at the start of the NFL season.

A bet that involves more than one selection, with the winnings from each selection going onto the next selection. All selections must win for a return. Example: Betting on multiple football games and needing all of them to win for the accumulator bet to payout.

The total amount of money a bettor is prepared to risk or invest in their betting activities. Example: A bettor might decide they have a bankroll of $1,000 for the NFL season.$

The total amount of money wagered on a sports event by all bettors. Example: If $3 million was wagered on the Kentucky Derby, that's the handle for the event.$

Placing a bet on the opposite outcome to an earlier wager, usually to minimize losses or guarantee a profit regardless of the result. Example: Betting on Team A to win a tournament and then betting on Team B in the finals to ensure some level of profit.

The final betting line before the sportsbook stops taking wagers on an event. Example: In an NBA game, the closing line might have the Lakers at -5.5 points just before tip-off.

Conditions placed on a bet or bonus that must be met before withdrawal of winnings. Example: A betting bonus with a 5x wagering requirement means you must bet the bonus amount five times before cashing out.

A wager on a specific occurrence or non-occurrence within a sports event, unrelated to the final outcome. Example: Betting on a basketball player to have over 5.5 assists in a game.

A bet on whether the total points, goals, or runs in a game will be over or under a sportsbook's specified amount. Example: Betting the over on a football game with a set line of 47.5 total points.

A type of wager where the sportsbook sets a margin of victory, and the favorite must win by more than that margin. Example: Betting on a team at -7.5 means they need to win by at least 8 points.

A type of parlay bet where the bettor can adjust the point spreads for the selected games, typically by 6, 6.5, or 7 points, but at reduced odds. Example: A bettor combines two bets and adds 6 points to the spread in their favor for each game.

The amount of money a bettor risks on a single bet. Example: Placing a $100 stake on a football game to win$180, including the return of the original stake.

Refers to the built-in commission that sportsbooks charge to ensure they make a profit on bets. Example: If a poker pot has a 5% rake, that's similar to the vigorish taken in sports betting.

A bet on which team or player will win a game outright, without any point spread. Example: Betting on the Yankees to win a baseball game with moneyline odds of +130.

A strategy of exploiting small differences in odds offered by different bookmakers by betting on all possible outcomes and guaranteeing a small profit. Example: Placing one bet on a team to win with one bookmaker and another bet on that same team to lose or draw with another bookmaker.

The team or player deemed less likely to win an event by the bookmaker. Example: If a football team has odds of +250, they are considered the underdog against their opponent.

Percentage of profit from the total amount wagered by a bettor, indicating their betting efficiency. Example: A bettor with a yield of 5% gains $5 for every$100 staked over the long term.

A bet with very high odds and a low probability of winning, but if successful, offers a large payout. Example: Betting on a rank outsider in a horse race at odds of 80/1.

A bet where the odds offered are greater than the probability of the event occurring, offering 'value' to the bettor. Example: A tennis player has true odds of 2/1 to win a match, but the bookmaker is offering 3/1.

A betting strategy that involves doubling the stake after every loss, with the intention of recouping losses and winning a profit equal to the original stake. Example: Betting $50, then$100, then $200, and so on, until a win occurs.$

Betting on events that are already underway, with odds changing dynamically based on the current score and situation. Example: Placing a bet on a team to win after they've conceded the first goal.

A numerical expression that represents the likelihood of an event occurring, which in turn reflects the potential payout. Example: -150 odds mean a bettor must wager $150 to win$100, while +150 odds mean a $100 bet would yield$150 if successful.

Return on Investment; measures the amount of return on a bet relative to the bet's cost. Example: An ROI of 20% indicates for every $100 wagered, the bettor on average gains$20.

British term for someone who places a bet, typically in horse racing or sports. Example: A punter may bet $20 on Manchester United to win a football match.$

The commission that bookmakers build into the odds, ensuring profit regardless of the event outcome. Example: In point spread betting, both sides might be at -110 instead of even money, the extra $10 is the juice.$

The amount of money wagered by the general public on a sports event, rather than sharp bettors or betting syndicates. Example: A large percentage of casual bets placed on the underdog in a high-profile boxing match.

Bets placed by professional bettors or betting syndicates who are considered well-informed or adept at predicting outcomes. Example: Significant amounts of money placed on a lesser-known tennis player might suggest sharp money is behind the bets.

A bettor who consistently wagers large amounts of money. Example: A 'whale' might place $10,000 bets on major sporting events regularly.$