Sports Betting Terminology Explained Articles | Gambling

By: Richard Bleuze

Sports Betting Terminology Explained

To make your sports betting experience profitable, it is important that you understand some of the common sports betting terms that are used when sports betting.  Most of these terms are used when placing a land-based bet and their meanings compare favorably to their online equivalents.  In my opinion, online gambling is the way to go since in most cases gambling online will allow extra opportunities for the gambler.  Especially, for the sports bettor!

Vig: This word is short for vigorish. The vigorish is the commission a bookmaker earns when taking a bet. Vigs are usually carefully calculated so that the bookie will make a certain amount of money no matter what the outcome of the game is.  Thus, win or lose, anyone who places a bet will pay this commission.  Bookies make sure that they receive a commission by adjusting the money line so that there are the same number of bets placed on both sides of a match.  Bookmakers usually do this by making a payoff much larger if the underdog comes out on top.  People are thus tempted to wager on the chance of a big pay day.

Points spread: This sports betting term refers to a way by which bookies even out the playing field.  The term point spread is usually used in basketball and football betting.  Many of those teams in the sports mentioned are more skilled than others and invariably come out on top when matched against an obvious underdog.  Thus, bookmakers make the betting on both sides more favorable by adjusting the points spread.  In order to collect winnings, the sports bettor must bet on the favorite to have beaten the spread; in other words, the score by which the team won has to be equal to or greater than the predicted points difference.  Thus, with points spreads, even those who bet on losing teams have a chance at winning since if the points difference is lower than the one predicted, those who bet on the losing team will still win the wager.

Parlay: Parlay is a tricky way that bookmakers make their money.  The system of parlay betting involves predicting which teams out of a selected field will win the  matches.  I do not suggest parlay betting.  If you must parlay (usually "big wins"), then I suggest no more than 2 teams.  All of the best online sports books offer parlay options, because they are appealing to fans who see the opportunity at a big payout.  Bookmakers love them because they are almost always guaranteed money.  However, since there are always close matches included in a parlay system, knowledgeable fans even have a good chance of getting at least one prediction wrong and therefore losing the bet.

Moneyline: This type of bet is also known as a straight-up bet.  It is used in sports such as hockey and baseball where scores are closer due to the scoring systems. Moneyline bets use base amounts to determine payoffs, such as the amount needed to win $100 or the amount paid for a $100 amount (the latter applying to the underdog, and the former to the favorite).  A dime line is factored in in order to determine the bookie’s vig.

Sports betting is one of the most popular past times there is, but most people do not understand basic gambling terminology. Having some basic ideas and sports betting terms in back pocket can help you to have a much better online sports experience.

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