by OddsShark (@OddsShark)
American Odds – A format for listing odds popular in North America. Numbers listed with a “-” (e.g. -250) indicate how much a bettor has to bet to win $100 while numbers listed with a “+” (e.g. +125) indicate how much a bettor will win with a $100 bet.
Decimal Odds – A format for listing odds popular around the world. This format lists numbers as decimals (e.g. 1.25 or 3.00) that when multiplied by the amount wagered will produce what payout the bettor will receive in full on a winning wager.
Favourite – The team or side that is considered by the sportsbooks to be more likely to win. Bettors will win less than they wager when betting on a favourite due to the increased likelihood it will win.
Fractional Odds – A format for listing odds popular in the UK. This format lists numbers as fractions (e.g. 10/17) with the number on the right expressing what you must bet to win the number on the left.
Futures Bet – Betting on an event set to take place in the future such as what team will win the Stanley Cup.
Handicapping – The act of researching and analyzing data and trends to formulate educated opinions on what to wager on.
Juice – The amount a sportsbook takes for accepting a bet. This price is factored into the betting odds.
Line Move – When the betting odds change, often due to betting action or roster updates.
Live Betting – Betting on an event that is currently taking place with dynamic odds that shift depending on what happens in the game.
Longshot – A longshot is a team or side that is unlikely to win and will often award big payouts when it does.
Moneyline – A straight bet on which team will win with no spread or handicap.
OVER/UNDER – Synonymous with the total, the OVER/UNDER is the number of goals a sportsbook is projecting to be scored in a game. Bettors can bet on whether the actual score will go OVER or UNDER this posted total.
Parlay – A wager type in which bettors can combine multiple selections into one single selection for the potential of a higher payout, but every selection within the parlay must win.
Pick’em – A game with no favourite or underdog as both sides are going off at the same odds.
Prop Bet – Short for proposition bet, a prop bet is a wager made on an occurrence in a game or season that is independent of who wins.
Puckline – The standard spread on a hockey game of 1.5 goals, with the favourite listed at -1.5 and the underdog listed at +1.5.
Push – When a wager results in a tie. The bettor is returned their original wager amount.
Sportsbook – The location where a person can place bets on sporting events.
Total – Synonymous with the OVER/UNDER, the total is the number of goals a sportsbook is projecting to be scored in a game. Bettors can bet on whether the actual score will go OVER or UNDER this posted total.
Underdog – The team or side that is considered by the sportsbooks to be less likely to win. Bettors will win more than they wager when betting on an underdog due to the decreased likelihood it will win.