Otis Edge University – Glossary of Terms

Sports Wagering Terms

• Action — Having a bet on a game, or the total amount of money bet on it.
• ATS (Against the Spread) — Your record betting on the point spread, not the outright winner.
• Backdoor Cover — A team that’s getting blown out scores late just to barely cover the spread.
• Bad Beat — Losing a bet you had locked up until the very last moment.
• Bankroll — The total amount of money you’ve set aside strictly for betting.
• Beard — Someone who places a bet for another person to hide who’s really betting.
• Book / Bookie — The sportsbook or person taking your bets.
• Buck / Dollar — Slang for a $100 bet.
• Chalk — The heavy favorite.
• Chalk Eater — Someone who only bets big favorites.
• Cover — When your team beats the spread.
• Dime — Slang for a $1,000 bet.
• Dog / Underdog — The team not expected to win.
• Edge — When you believe you have an advantage over the sportsbook.
• Fade — To bet against someone or against the public.
• Favorite — The team expected to win.
• Futures — Long-term bets like who will win the Super Bowl or MVP.
• Handle — The total amount of money wagered on a game or across the whole book.
• Hedging — Betting the opposite side to guarantee profit or reduce losses.
• Hook — A half point on the spread (example: 7.5 instead of 7).
• Juice / Vig / Vigorish — The sportsbook’s cut, usually the extra you pay on -110 bets.
• Key Numbers — The most common final margins in football — 3, 7, 10, etc.
• Limit — The maximum bet size the book will accept on a game.
• Line Movement — When the spread or odds change because money is coming in.
• Live Betting — Betting on a game while it’s already in progress.
• Middle — Hitting both sides of a bet when the line moves between your two wagers.
• Moneyline — Betting on who wins the game straight up with no spread.
• Nickel — Slang for a $500 bet.
• Off the Board — When the sportsbook takes the game down and stops accepting bets.
• Parlay — Combining multiple bets into one ticket. All legs must win to cash.
• Pick ‘Em — A game with no favorite (spread is zero).
• Prop Bet — A bet on something specific inside the game, like player stats.
• Push — When the result lands exactly on the number and your bet is refunded.
• Run Line / Puck Line — The spread version used in baseball and hockey.
• Same Game Parlay — Parlaying multiple bets from the same single game.
• Sharp — A smart, professional, winning bettor.
• Square — A recreational bettor who usually bets with the public.
• Steam Move — When a line moves quickly across multiple sportsbooks, usually from sharp money.
• Teaser — A parlay where you get better spreads but lower payouts.
• Total (Over/Under) — Betting whether the combined score will go over or under a set number.
• Tout — Someone who sells their picks or betting advice.
• Unit — Your standard bet size based on your bankroll.
• Value / +EV — Finding bets where the odds are better than the true probability.

General Casino & Gambling Terms

• Blackjack — An Ace and a 10-value card on your first two cards.
• Bust — Going over 21 in blackjack.
• Buy-In — The amount of cash you exchange for chips at a table.
• Chips — The round discs used instead of cash at the tables.
• Comps — Free food, rooms, or perks the casino gives you based on how much you play.
• Craps — The dice game. Also means rolling a 2, 3, or 12 on the come-out roll.
• Double Down — Doubling your bet in blackjack and taking one more card.
• Even Money — Getting paid 1-to-1 on a bet.
• High Roller / Whale — A very big bettor who plays with large amounts of money.
• Hit — Taking another card in blackjack.
• House Edge — The mathematical advantage the casino has over the player.
• Marker — A loan from the casino that you sign for with your credit.
• Natural — A blackjack or rolling a 7 or 11 on the come-out roll in craps.
• Pit — The area where all the table games are located.
• Pit Boss — The manager who oversees a group of table games.
• Rake — The casino’s cut taken from poker pots.
• Shooter — The person rolling the dice in craps.
• Split — Separating a pair in blackjack into two separate hands.
• Stand — Choosing not to take any more cards in blackjack.