Reference
Betting glossary
Every term you will meet in a sportsbook app, defined in one sentence. 35 entries, alphabetical.
Action
A bet that stands regardless of lineup changes. The opposite of a listed pitcher bet in baseball.
Alternate line
A spread or total offered at a different number than the main one, with adjusted odds to match.
Bankroll
The total amount of money you have set aside for betting. Not your chequing account.
Bonus bet
Site credit issued by a sportsbook. If it wins you keep the profit, not the stake.
Cash out
Settling a bet early for a price the book offers, before the event finishes. The price always includes the book’s margin.
Chalk
The favourite.
Closing line
The final price before an event starts. The most accurate number a book will post.
Cover
Beating the point spread, as opposed to just winning the game.
Decimal odds
Odds shown as the total return per unit staked, including your stake. 2.50 returns $2.50 on a $1 bet.
Even money
A price of plus 100 in American odds or 2.00 in decimal. Win the same as you staked.
Futures
A bet on an outcome decided at the end of a season, like a championship winner.
Handle
The total amount wagered on an event or by a sportsbook over a period.
Hedge
Placing a second bet on the opposite outcome to lock in a result or reduce exposure.
Hold
The percentage of total handle a sportsbook keeps. Higher on parlays than on straight bets.
Implied probability
The win probability baked into a price. Add both sides together and you get more than 100 percent. The excess is the vig.
Juice
Another word for vig. The book’s built-in margin.
Key number
A margin of victory that occurs unusually often. Three and seven in the NFL.
Listed pitcher
A baseball bet that voids unless both named starters pitch.
Live betting
Wagering after an event has started, at prices that move in real time.
Moneyline
A straight bet on who wins, with no spread involved.
Parlay
Multiple selections combined into one bet. Every leg must win. Odds multiply, and so does the book’s margin.
Playthrough
How many times you must wager a bonus before you can withdraw anything from it. Also called rollover or wagering requirement.
Prop
A bet on something other than the final result, usually a player statistic.
Puck line
Hockey’s spread, fixed at 1.5 goals.
Push
A tie against the spread or total. Your stake is returned.
Rouge
The single point in the CFL, awarded when a kick into the end zone is not returned out.
Run line
Baseball’s spread, fixed at 1.5 runs.
Same game parlay
A parlay where every leg comes from one event, priced with correlation adjustments.
Sharp
A bettor whose money moves lines. Also used to describe a market that is hard to beat.
Spread
A handicap applied to the favourite so both sides are priced close to even.
Steam
A fast, coordinated line move across multiple books.
Teaser
A parlay where you move each spread in your favour in exchange for shorter odds.
Total
A bet on the combined score of both teams. Also called over/under.
Unit
A standard bet size, usually 1 to 2 percent of your bankroll. Used to compare results honestly.
Vig
The sportsbook’s commission, built into the odds rather than charged separately.
Still stuck on a term?
The two guides that clear up most confusion are how odds work and bonus terms explained. Between them they cover the vocabulary that costs people money.
Before you deposit anywhere
Set a deposit limit the day you open an account, not the day you need one. Every regulated Canadian sportsbook has limit and self-exclusion tools built in, and the provincial help lines on our responsible gambling page are free and confidential.