A point spread bet is also referred to as betting the spread or handicap betting. Point spread betting is a sports betting market in which a team either has to win by a specific number of points or goals, or not lose by a specific number of points or goals. There are many unique terms associated with sports wagering. Bookmark our glossary of betting terms and use it as a reference if you come across an unfamiliar word or phrase while placing bets.

• Sports Betting Terms Explained Charts
• Sports Betting Terms Explained Results
• Sports Betting Terms Explained Glossary

Following the Supreme Court's ruling that PASPA is unconstitutional, numerous state legislatures are discussing -- or already have passed laws -- that will allow sports betting at brick-and-mortar casinos and racetracks, as well as online.

The conservative estimate here is that by the end of 2018 eight or nine states will have licensed sportsbooks allowing full-fledged sports betting (straight wagers, parlays, futures and more) at casinos, racetracks and possibly in retail locations, such as gas station convenience stores. By the end of 2019, that figure could grow, giving residents and neighbors in 12 to 14 states access to legal sportsbooks and legal online/mobile wagering as well.

1. Sports Betting Terms & Glossary Action – A wager of any kind. Added Game – A game that is not part of the regular Las Vegas rotation. Oftentimes this will be a rescheduled game or the second game of a doubleheader.
2. As our Sports Gambling 101 glossary of terms illustrates, betting odds are posted in many different styles and prices. Beyond standard point spread and game total options, bettors also have access.
3. The betting industry is full of different betting terms and explanations making it quite confusing and sometimes offputting for any newbies out there. That’s why we’ve put together this sports betting glossary to help you get started as quickly as.

With that in mind, let's look at sports betting basics. You've walked into a sportsbook, you're staring at a wall of orange and green letters and numbers and it looks like hieroglyphics. You may find a patient clerk at the sportsbook counter who can explain some basics, but it's always better to go in with an idea how it works. Start by doing some research online, learning a bit of sports betting terminology and about types of wagers available at sportsbooks.

Here's a review of some basics. Joining us to cover some ground is Vic Salerno, a pioneering Nevada sportsbook executive and current President of US Bookmaking and US Fantasy Sports.

What are the point spread and the money line?

There are a few basic ways to bet on the result of a game. The most popular ways are to bet one team using the 'point spread' (or spread) or to bet the outcome on the 'money line' (ML).

'A point spread is a number of points by which one team is favored over the other,' Salerno explains. 'For example, let's say the Cleveland Cavaliers are playing the Milwaukee Bucks, and the Cavaliers are a 3.5-point favorite. That means that Cleveland has to win by three and half or more points. If they only win by 3, then someone betting on the Cavaliers would lose their wager.'

So suppose the Cavs edge the Bucks 93-90. Someone betting on Milwaukee would win there because the Bucks 'covered' the spread -- by either winning outright or by losing by three or less. The person who bet on the Cavaliers (the 'favorite') would have lost here, while someone else backing the underdog Bucks (or the 'dog') would have won their wager, despite the Bucks losing the game.

The point spread is the great equalizer. It's a game within a game.

The money line is straight up without the handicap.

'The money line is just who is going to win the game outright,' Salerno says. 'So in that same example, with Cleveland on the money line, just to win the game outright, you would have to lay, say, two dollars to win a dollar.'

That would be represented on the board (or on the mobile app) by -200, or 1-2 odds. Bet $200 to win $100, $100 to win $50 and so on. You have to bet more than $100 to win $100 because the outcome of the Cavs simply winning the game is a lot more likely.

And on the other side, the Bucks, who are at +3.5 on the spread (or 'getting' 3.5 points), would be somewhere around +160 on the money line (8-5 odds). So, you risk $100 to win $160, but only if the Bucks are victorious. If you bet the Bucks ML and they lose the game by any margin, you lose your wager.

What is handicapping?

Handicapping refers to a person's approach to predicting a game's outcome. Some people weigh certain factors differently than others. Do the Golden State Warriors play poorly on the second night of a back-to-back? Maybe you think that's just noise.

'[Handicapping is] just knowledge. I mean every game is different,' Salerno says. 'In general, you look at applicable weather conditions, and in any sport, it's injuries. You should be up to date on those. Past statistics come into handicapping, and in some sports, past performances against that team. So, for example, in basketball, they play each other more often than they do in football, so you would use past performances for your handicap.'

Handicapping can be as simple or as complicated as you like. People who wager on sports professionally (or try) will devise their own rating systems and use them to help identify what a line should be.

What about the total?

Ever notice someone only rooting for offense or defense, regardless of who has the ball? He/she may have bet 'over' or 'under' the game's total, the total amount of points scored for both teams. It's a wager totally independent of the game's outcome (spread or ML).

Salerno provides an example why somebody may prefer that to picking a side (a winner or loser).

'Let's say that in football, the Green Bay Packers are playing the New England Patriots in Green Bay and the total was 45,' he says. 'The line might be Green Bay, say by three, and people feel that both teams would score more combined points than the 45. So in that case, and regardless of who wins, they feel that there will be more than 45 points scored, so they would bet 'over' on that. And vice versa, if they felt less points would be scored, they would bet on that.'

These scenarios often come down to the final minute of the game. Let's say that the Packers lead 24-20 late in the game and are trying to kill the clock on offense. Aaron Rodgers hits Davante Adams for a 23-yard reception, Adams runs to the Patriots' 20-yard line and then the Patriots lock down and force the Packers to kick a field goal on fourth down. Those on the over hold their breath. It's good, the game ends 27-20 Packers and the total skates past 45.

Keep in mind that in addition to a game total, most sportsbooks will offer a separate total for the first quarter, second quarter, first half, third quarter, fourth quarter and for the second half. You may think the game will start very conservatively. In that case, you might wager 'under' in the first quarter or half.

Also keep in mind that there are other types of wagers called 'props' that look at a variety of player-specific or team-specific events. A popular prop during the NCAA tournament is the first team to score 10, 15 or 20 points. It's just an exciting race to open things up.

What are teasers and parlays?

Now we're getting into 'exotics,' or types of wagers beyond the traditional kinds. Teasers and parlays are the two most popular variations.

'A parlay is when you take two or more teams, and they both have to [cover the spread],' Salerno says. 'In football, you might take, say the Packers -3 and the Detroit Lions +4. To win your parlay, they would both have to cover those spreads.'

So what is the benefit of having to win both legs of the bet? You get a bigger payout.

You can bet more than two teams in a parlay, too; the more teams you pick, the higher the possible payout. For example, a seven-team spread parlay pays out at about 75-1. But remember -- to win your bet, you have to win all legs of the parlay. So if you nail six Sunday football games, but lose the Monday night game, you can kiss that ticket goodbye.

A teaser is similar to a parlay in that you must take two or more teams, and they both have to cover the spread. The difference here is you get to add points to, or tease, the spreads. In football, one teaser option is to add six points to a spread. So going back to the Packers-Lions example, instead of Green Bay being -3, you would get +3. The Lions would go from +4 to +10 in this teaser.

Putting it another way, a teaser gives you some cushion, but again you have to be right on every team (or 'leg') you play. Teasers may seem appealing, but things often don't go the way we expect, so don't be easily seduced by the extra points.

Speaking of points, here's a good spot to mention how the 'book' or the 'house' takes a cut. Consider that -110 you'll frequently see. That extra 10 refers to the 'juice' or the 'vig.' For the ability to place a wager, the bettor has to pay that juice or vig. After all, the sportsbook and its employees have to eat, too -- they are taking the risk with every wager placed. And that's basically why -110 exists. Bet $11 to win $10 (plus your $11 back), or bet $110 to win $100 (plus your $110 back).

What does it mean to wager in-game?

Once the game starts, it's no longer true that all bets are off.

You can bet 'in-game' when a bookmaker has a moment to look at what has happened, reassess and offer a new line(s) accordingly. This type of wagering is becoming increasingly popular.

There are many in-game wagering options. Suppose the total for an NBA game is 200 points before the tip, but both teams come out on fire, on pace to go way past 200 points.

'There's an algorithm that takes and sees how much time is left in the game, and then divides that into points scored, and that's how we arrive at a new total,' Salerno says. 'So a game that was originally 200, if they're scoring at a more rapid rate, it would go up to say 210, and you can bet at 210 whether you want to go over or under.'

How about that bankroll?

The most common pitfall for newcomers comes back to the bankroll, or the amount of money you've set aside for sports betting.

'This is my opinion: You should always keep your bets relatively the same with each and every bet, no more than 5 percent on any one game,' Salerno says. 'And you should never chase or increase your wagers when you're losing. Saying, 'OK, I can't lose three in a row' and betting four times as much on the next game [gets you into trouble]. And you can lose four in a row, or five or six. So, you can't chase it.'

The other pitfall is a bettor letting his heart get into a place where his mind is -- in other words, falling in love with his home team or his favorite team.

Finally, as in every industry, technology is changing the game. Pretty much every sportsbook, existing or to come, will have a mobile app or online platform. That means if you have access to different sportsbooks, you can do what's called 'line shopping,' or looking for the line that gives you the best odds on the side or total you like. Think of it like shopping for a new pair of shoes online; find the pair you like and then get the best price on them.

'Having accounts in different locations gives a player a huge advantage,' Salerno says. 'If you want to bet on Cleveland, one place might have it at -3 and the other places all have -3.5. That can make the difference between a winner and a loser.'

Brett Smiley is the editor-in-chief of SportsHandle.com, covering sports betting legislation, the industry and culture.

For those of you looking to learn about the different types of sports bets,
you’ve come to the right place. We’ve developed this page with the goal of
helping sports bettors of all levels gather all of the knowledge that they need
on the subject. By the time you finish checking out our detailed guide on the
different forms of bets, you’ll have a good understanding of what your betting
options are and how they all function.

On this page, our first order of business will be providing you with an
explanation of all of the common types of sports bets. After that, we’ve
compiled an additional sports betting resources section that’s packed with other
quality guides you can use to expand your knowledge on several topics. Finally,
we’ll conclude things with a frequently asked questions section to help you
answer any unanswered questions that you may have.

Common Bet Types

In this section, we’re going to provide you with a high-level overview of the
primary types of sports bets. Along with each explanation, we’ve also included a
link to a detailed page that’s packed with even more information about each bet
type. Using these pages, you’ll be able to dig in more in-depth on the ones
you’re most interested in.

If you’re searching to learn about a single type of betting, you can use the
jump links below to head straight to that section. However, if your goal is to
learn about all kinds of sports bets, be sure to read through each of the
sections below so that you can soak up as much as possible.

Win Bets and Moneyline Bets

Win and moneyline bets are interchangeable. Although said differently, they
both mean the same thing. However, depending on where you reside, it may be
called one thing over the other. In the United States, most folks refer to this
type of bet as a moneyline wager. Around the rest of the globe, the same kind of
wager is called a win bet.

No matter what you call it, this type of bet is the most basic one of them
all. With this type of wager, you’ll simply be selecting who you believe will
win the game or match that you’re betting on.

Here’s a sample for you: if you’re betting on an upcoming NBA game between
the Chicago Bulls and the Miami Heat, you’d need to determine which team you
think will win. If you believe that Miami will come out on top, you will place a
win bet on Miami. If Miami goes on to win the game, you’ll also win your wager!
It’s that simple!

If you’d like to learn more information about moneyline and win bets, we’ve
included a link below to our page dedicated to this type of wager. Just click on
the link below to view our in-depth coverage of this bet type.

Totals and Over/Under Bets

This type of wager also has two interchangeable names associated with it.
Folks in the United States most often refer to this bet type as a total, while
the rest of the globe typically calls it an over/under bet. Once again,
regardless of the name, both refer to the same type of sports bet.

Totals are another very simple wager that can be great for beginners to use
in conjunction with win bets. With a totals bet, the sportsbook will issue a
specified total associated with a sporting event. In many cases, this total is
tied to the number of points scored in the game. When placing this type of
wager, you’ll have to decide if you think the total will actually come in over
or under the number set by the sportsbook.

Let’s look at an example. If we circle back to that same Miami Heat versus
Chicago Bulls game, a sportsbook may set a totals line at 199 points. If you
believe that both teams combined will score more than 199 points in the game,
you will bet the over. Conversely, if you feel like the teams will have a
combined score less than that, you’d bet the under. If you pick correctly,
you’ll win your totals bet.

If you’re new to over/under bets, we’ve developed a page with more detailed
information if you’d like to learn more. Just click below to gain a deeper
understanding of this type of sports bet.

Point Spread and Handicap Betting

Another type of bet that you can place on many sporting events is a point
spread wager. This type of wager is used very commonly in the United States.
Another similar kind of bet is also common in parts of Europe and other places
around the globe. In these places, this type of wager is referred to as handicap
betting.

The core idea behind both of these wager types is the same. It all starts
with a sportsbook determining which team they think is favored to win the match.
Once they have that done, they’ll then assign a total number of points they
believe that team will win the game by. It’s up to you to then decide if you
think that the pick by the sportsbook is over or understated.

Here’s an example to help you visualize this: in an upcoming game with the
Chicago Bulls and Miami Heat, a sportsbook has posted a point spread of 5 points
in favor of Miami. In short, that means that the sportsbook expects Miami to win
by that many points. If you were placing a point spread wager on this game,
you’d have to choose if you think the sportsbook is high or low.

If you think that Miami will win the game by at least five points or more,
you will bet on Miami. However, if you believe that Chicago will win the game or
lose by 4 points or less, then you’d wager on Chicago. To win this bet type,
you’ll have to correctly select from one of the two options above.

To gain a deeper understanding of these wager types, don’t miss out on the
link below. Here, you’ll be able to soak up more information about point spreads
and handicap betting.

Futures and Outright Bets

In the sports betting world, futures bets and outright bets also mean the
same thing. With this type of sports wager, you’ll be selecting the winner of an
overall tournament, competition, or league. In most cases, you’re making your
pick well in advance of the actual sporting event happening. It’s because of
this that the term “futures” is associated with these bets.

For example, you might bet on the winner of the NBA Finals before the next
season actually starts. Another sample is if you bet on the winner of the Super
Bowl before a single NFL game was played for the current season. In both of
these examples, you’re placing a wager well in advance of the actual event
happening.

Because most of these outright bets are placed so far ahead of their
completion, they can be tough to pick correctly. When betting on a sport before
the season begins, you don’t have a ton of information about how a particular
team will perform. Due to this, the payouts associated with them can be very
handsome. However, it’s important to keep in mind that the attractive payouts
mean that they are risky bets.

We’ve also developed a page dedicated to futures and outright bets. You can
utilize this page to gain a deeper understanding of these types of wagers if
you’d like to begin placing them as a part of your sports betting strategy. To
view this page, click below.

Proposition Bets and Specials

If you’re looking for something a bit different than a standard sports bet,
you might consider placing a proposition bet. Also known as prop bets or
specials, these types of wagers can be on just about anything.

As an example, you can place prop bets on which team or player will score
first in a game. Other prop bets include the time of the first goal in a soccer
match or which team player will score the first run in a game. These samples
hardly scratch the surface on different prop bets that you can place. In
reality, there are all kinds of different things that you can bet on using this
type of wager.

If you’d like to view more information about prop bets and see other samples
of them, be sure to check out the link below. It will take you to our detailed
page on prop bets where you can learn more about them.

Parlays and Accumulators

When it comes to parlays and accumulators, things begin to get a bit more
complicated. Because of this, these types of sports betting wagers should not be
used by beginners. With these types of bets, you’ll actually select a string of
picks as part of one single wager.

For example, if you’re betting on horse racing, you can place an accumulator
bet on the winner of six different races. To win this wager, your picks would
need to be accurate for all six races. If just a single one of your picks is
incorrect, you’ll lose the bet and your stake.

Due to the string of picks associated with parlays and accumulators, these
bets are very risky. That means that you can earn high payouts, but it is less
likely that you’ll get them correct. Because of this, we’d suggest you only
place smaller wagers when using these bet types.

Teasers and Pleasers

Taking the idea behind accumulators to more complicated heights brings us to
teasers and pleasers. These bet types are similar to parlays and accumulators in
that you’ll make multiple selections as part of your bet. However, there are
some critical differences between them all.

With teasers, you’ll pick the string of bets that you want to make. Next, you
can move around the point spreads in your favor to help give you a better chance
of winning the wager. This gives you a big leg up over a standard parlay-style
bet.

Conversely, you could also place a pleaser bet which makes it harder for you
to win. With this type of wager, you’ll actually move the point spreads out of
favor. Here, you’ll have a disadvantage to winning compared to a standard parlay
bet. However, since it is a harder wager, the potential payouts will be higher
if you’re able to win the wager.

Because teasers and pleasers are different in how they function, we’ve made a
dedicated page for each one of them. If you’d like to learn more information on
one or both, you can use the links below.

If Bets and Reverse Bets

Some of the hardest wagers to understand are if and reverse bets. At their
core, these bets are ones where you’ll make multiple selections. However,
depending on your picks, how things play out can change.

For example, with if bets, you’ll kick things off by picking two or more
wagers joined by a common cause. With this type of wager, if your initial pick
is incorrect, all subsequent wagers are off. Because of this, you have reduced
risk with if bets, which makes them considered safer options than standard
parlay wagers.

With reverse bets, you’re essentially combining two if bets into one. For the
first portion of the wager, you’ll place an if wager on your first and then your
second selection. Next, there will be another if bet in place for your second
selection followed by your first one. In short, reverse bets work in both ways.

Due to the complexity of if and reverse bets, we’d strongly suggest you check
out the link below before placing any real money bets using them. On our
in-depth page about these bet types, we’ll give you a deeper explanation along
with other samples that you can use to grasp precisely how they function.

Permutation Betting

Rounding out our explanation of common bet types brings us to permutation
betting. This type of sports betting is one of the most complicated ones to
understand. With this wager type, you’ll make multiple selections and place
numerous wagers through the combination of the selections. This bet type is
another one that should not be used by beginners due to how difficult these
wagers are.

If you’d like to dig more into permutation betting, be sure to check out the
link below. It will take you to our detailed page focused solely on this bet
type. Here, you’ll find sample permutation bets and a more in-depth explanation
of how they work. Once you see a handful of samples from this page, you should
have a good understanding of these complicated wagers.

Additional Resources

We didn’t want to leave you without also offering some of our other top-notch
sports betting-related resources. Below, we’ve included links to some of our
most popular and helpful guides on many different things. If you’re seeking to
increase your knowledge of sports betting, there’s something below to help you
learn more.

Beginner’s Guides to Sports Betting

If you’re on this page because you’re new to sports betting in general, then
the links below are your new best friends. These links are our two best sports
betting beginner’s guides. In these two guides, you’ll get a firm understanding
of sports betting basics so that you can begin placing wagers quickly. Even if
you have some knowledge of sports betting, these pages are worth a quick scan to
make sure that you’re informed on all of the critical topics.

Sports Betting Essentials

For those of you that are experienced sports bettors, you’ll want to get
things started at our sports betting essentials page. This page is also an
excellent spot for beginners that have worked through our two guides above. On
our essentials page, we’ll dive deeper into more advanced sports betting
strategies that you can use to elevate your sports betting knowledge to more
than just the basics.

Odds Converter

While you’re making sports bets online, you may occasionally come across an
online sportsbook posting odds in a format that you’re not the most comfortable
with. If that’s the case, all hope is not lost. By using the link below to our
proprietary odds converter page, you can take odds of any format and convert
them into another. By doing this, you’ll always make sure that you understand
the odds of a wager before you risk real money on it.

Suggested Sports Betting Sites

If you don’t already have an online sports betting home, we’ve got some great
suggestions for you. Below, you’ll find links to a few of our pages dedicated to
different sports betting sites. Up first, we’ve got our page on the best
all-around sports betting sites. Next, there are also links to our pages for the
best mobile sports betting sites and online sportsbooks for live betting. No
matter what you’re looking for, these pages will help you find a legit and
trusted website to do all of your sports betting.

Conclusion

Hopefully, you’ve gained the knowledge on bet types that you came here for.
If you’ve never visited our site before, we’d encourage you to poke around and
see all of the other excellent resources that we have relating to sports
betting. We’ve developed this site to help gamblers of all skill levels elevate
their betting to all new heights. Thank you for dropping by, and best of luck in
all of your future sports wagers!

Frequently Asked Questions

Sports Betting Terms Explained Charts

In this section, we’ve included a handful of FAQs relating to the different
types of sports bets. If you still have some questions after checking out the
rest of what this page has to offer, we hope that this portion will help you
locate the answers you need. To view the answer to one of the questions, you
just need to click on the question itself.

I’m new to sports betting. Which bet type should I start with?

Those of you that are new to betting on sports should stick with more basic
wagers while you get a firm understanding of how sports betting works.
Specifically, we’d suggest you start with win, moneyline, spread, and over/under
bets. Once you’re comfortable with these bet types, you can then consider some
of the more advanced bet types like parlays.

How much should I bet?

We can’t provide an answer here that will work for all individuals reading
this page. The amount of money that you should bet on any particular bet will
depend on several factors. Some of those factors are your risk tolerance, the
type of bet you’re making, and the size of your betting bankroll.

If you don’t already have a bankroll management plan established, that would
be something we’d urge you to develop as soon as possible. Bankroll management
plans will assist you in determining how much you should bet. Instead of betting
your entire bankroll at once, you’ll bet a small portion of your bankroll to
help extend the life of it. To learn more about bankroll management and learn
how you can establish a plan for you, check out the link below.

Do I have to use all of these bet types?

Absolutely not. If you’re happy betting using just one of two of the sports
betting types listed above, that’s perfectly fine. Ultimately, it’s up to you to
choose which wager types you’ll utilize in your sports betting strategy.

Are all of these bet types available on all sports?

No. Different sports and sportsbooks will have different wager types
associated with them. The best thing for you to do is check out an online
sportsbook and see what options you find available for the sports you would like
to bet on. Keep in mind that things can vary between sportsbooks, so it’s always
a good idea to check out several and see which one gives you the most extensive
set of betting options.

Which bet types are the riskiest?

Sports Betting Terms Explained Results

If you’re looking to avoid risky sports bets, then you should steer clear of
parlays, teasers, pleasers, if, reverse, and permutation bets. Since each of
these bet types requires you to make more than one selection, their risk is
elevated over the other forms of wagers. The bet type with the highest risk is
typically permutation betting due to how this bet type is structured.

Sports Betting Terms Explained Glossary

Some of you may still have some questions that were not answered above. If
that’s the case, then don’t miss our full sports betting frequently asked
questions page. Using the link below, you can check out our full lineup of FAQS.