KEY TAKEAWAYS
A sportsbook has its own language for prices, results and the business itself. Lines open, move and close. Bets are covered, pushed or voided. Books report handle and hold, and bettors talk about juice, hooks and steam. This glossary defines 28 of these terms in plain language, with an example of each in use. The entries are grouped into four themes: lines and prices, favorites and results, sportsbook operations, and market moves and bettor slang. Definitions describe how the words are normally used in the United States, and rules for voided bets, limits and grading vary by jurisdiction and house rules. Where a figure appears it comes from a published reference and can be checked by hand. Bet types such as the point spread and moneyline are defined in the separate sports bet types glossary, and are only cross-referenced here.
Lines and Prices
A line is the number a sportsbook posts for a bet. These terms describe the line, its movement and the cost built into it.
Line
Definition: The posted number and price for a bet, such as a point spread, a total or a moneyline price. The line is often called the number.
Example: “The line on Sunday’s game is 3.5 points with the home team favored.”
Related terms: opening line, closing line.
Opening line
Definition: The first line a sportsbook posts for an event. It is set before the market has responded, so it is often adjusted afterward.
Example: “The opening line was 6.5, and it moved to 7 by Friday.”
Related terms: closing line, line movement.
Closing line
Definition: The last line available before an event starts or the market closes. It reflects all the betting and news since the line opened.
Example: “The closing line settled at 7 after a week of changes.”
Related terms: opening line.
Closing line value
Definition: A comparison between the price a bettor took and the closing line. Getting a better number than the close is described as positive closing line value. It measures price, not results, and does not guarantee profit.
Example: “He laid 6.5 and the line closed at 7, so he had positive closing line value.”
Often shortened to CLV. Related terms: closing line, line shopping.
Line movement
Definition: A change in the posted line or price between opening and close. Movement can follow betting activity, injury news, weather or lineup changes.
Example: “The line movement went from 3 to 4 after the starting quarterback was ruled out.”
Related terms: steam move, reverse line movement.
Juice
Definition: The commission built into the odds, which is how a sportsbook earns money. At -110 on both sides of a bet, a bettor risks 110 to win 100, and needs to win about 52.38% of such bets to break even.
Example: “The juice on both sides was the standard -110.”
Also called vig or vigorish. Related terms: hold.
Hook
Definition: A half point on a line, such as 3.5 or 6.5. A line ending in a half point cannot land exactly on the final margin, so it removes the chance of a push.
Example: “He wanted the hook, so he passed on 3 and took 3.5.”
Register: informal. Related terms: push, key number.
Key number
Definition: A final margin that happens often in a sport, which makes moving a line across it matter more than moving it across other numbers. In American football, 3 and 7 are commonly cited examples.
Example: “Moving from 2.5 to 3.5 crosses the key number of 3.”
Which numbers are key varies by sport and era. Related terms: hook.
Buying points
Definition: Paying extra juice to move a point spread or total in the bettor’s favor, usually by half a point or more. The extra cost means the shift is not free.
Example: “He bought a half point, moving 3 to 3.5 for a higher price.”
Related terms: hook, juice.
Point spread — see Types of Sports Bets: 25 Definitions With Examples.
Moneyline — see Types of Sports Bets: 25 Definitions With Examples.
Favorites, Underdogs and Results
These terms describe the two sides of a game and how bets are decided.
Favorite
Definition: The side expected to win, shown with a minus sign on the moneyline or giving points on the spread. A favorite must win by more than the spread to cover.
Example: “The favorite was priced at -150 on the moneyline.”
Related terms: underdog, chalk.
Underdog
Definition: The side expected to lose, shown with a plus sign on the moneyline or receiving points on the spread. An underdog can cover the spread even while losing the game.
Example: “The underdog was +130 on the moneyline.”
Also called a dog. Related terms: favorite.
Chalk
Definition: Slang for the favorite, or for the favorites in general. A bettor who mostly backs favorites is sometimes called a chalk bettor.
Example: “The board was mostly chalk this week.”
Register: informal. Origin uncertain.
Cover
Definition: To beat the point spread. A team covers when its result, adjusted by the spread, is a win for the bettor on that side.
Example: “The favorite at -6.5 won by 7, so it covered.”
Related terms: push, against the spread.
Against the spread
Definition: A way of measuring results by the spread rather than the final score. Teams have win-loss records against the spread, which can differ from their straight-up records.
Example: “The team is 8-2 against the spread this season.”
Often shortened to ATS. Related terms: cover.
Push
Definition: A bet that ends in a tie with the line, so the stake is returned and nobody wins. In a spread bet this happens when the final margin equals the spread exactly.
Example: “The favorite won by exactly 3, so the bet was a push.”
Related terms: hook, no action.
No action
Definition: A bet that is voided and refunded, usually because the event is canceled or a named participant does not play. Grading rules for no action are set by each sportsbook.
Example: “The game was postponed, so the bet was graded no action.”
Related terms: push, settlement.
Sportsbook Operations
These terms describe how sportsbooks run their business and how bets are recorded and paid.
Sportsbook
Definition: A licensed business or venue that accepts bets on sporting events. Whether and how sportsbooks may operate depends on the jurisdiction.
Example: “The sportsbook posted lines for every game on the weekend slate.”
Also called a book. Related terms: bookmaker.
Bookmaker
Definition: A person or business that sets odds and accepts bets. The informal word bookie is used for the same role, and legal status varies by jurisdiction.
Example: “The bookmaker adjusted the price after heavy action on one side.”
Register: bookie is informal. Related terms: sportsbook.
Handle
Definition: The total amount wagered with a sportsbook over a stated period, such as a day, a week or a season. Handle measures volume and says nothing about profit.
Example: “The book reported a weekend handle of 10,000,000 dollars.”
Related terms: hold.
Hold
Definition: The share of handle a sportsbook keeps after paying winning bets, usually shown as a percentage. If handle is 10,000 and the book keeps 500, the hold is 5%.
Example: “A 5% hold on 10,000 dollars of handle is 500 dollars.”
Related terms: handle, juice.
Betting limit
Definition: The maximum amount a sportsbook will accept on a given bet or market. Limits vary by sport, market, time before the event and customer.
Example: “The limit on a player prop was lower than on the game spread.”
Related terms: stale line.
Ticket
Definition: The record of a bet, on paper or in digital form, showing the selection, price and stake. Ticket counts, the number of bets placed, are sometimes quoted next to handle.
Example: “He kept the ticket until the game was graded.”
Related terms: settlement.
Settlement
Definition: The process of determining results for each bet and paying winning tickets. Settlement is also called grading, and it follows the sportsbook’s published rules.
Example: “Settlement for the game happened after the official final score.”
Related terms: ticket, no action.
Market Moves and Bettor Slang
These terms describe how prices change across the market and how bettors talk about it.
Steam move
Definition: A rapid line change across many sportsbooks in a short time, often attributed to large or well-informed bets. The word is slang, and the cause of a move is an interpretation, not a fact.
Example: “There was steam on the underdog and the line dropped a full point.”
Register: informal. Related terms: line movement.
Reverse line movement
Definition: A line that moves in the opposite direction from the share of tickets bet on each side. For example, most tickets are on one team, but the line moves toward the other. It is often read as a sign of larger bets on the other side, which is an interpretation.
Example: “Most tickets were on the favorite, yet the line shortened for the underdog.”
Related terms: line movement, steam move.
Line shopping
Definition: Comparing prices across several sportsbooks to find the best number for a bet. Because lines differ slightly between books, the same bet can carry different prices.
Example: “After some line shopping he found a half-point better number.”
Related terms: closing line value.
Stale line
Definition: A line that has not been updated to reflect new information, so it differs from the rest of the market. Books usually move or pull such a line quickly.
Example: “The stale line was corrected within minutes of the injury report.”
Related terms: betting limit, off the board.
Off the board
Definition: A market that has been taken down and is not available for betting for a period, often because of uncertainty such as an injury report. The market may return with a new line.
Example: “The game went off the board until the lineup was confirmed.”
Related terms: stale line.
Quick-Reference Table of Sportsbook Terms
Use this table to find a term fast. Each term links to its full entry above.
| Term | Short definition |
|---|---|
| Line | The posted number and price for a bet, such as a point spread, a total or a moneyline price. |
| Opening line | The first line a sportsbook posts for an event. |
| Closing line | The last line available before an event starts or the market closes. |
| Closing line value | A comparison between the price a bettor took and the closing line. |
| Line movement | A change in the posted line or price between opening and close. |
| Juice | The commission built into the odds, which is how a sportsbook earns money. |
| Hook | A half point on a line, such as 3.5 or 6.5. |
| Key number | A final margin that happens often in a sport, which makes moving a line across it matter more than moving it across other numbers. |
| Buying points | Paying extra juice to move a point spread or total in the bettor’s favor, usually by half a point or more. |
| Favorite | The side expected to win, shown with a minus sign on the moneyline or giving points on the spread. |
| Underdog | The side expected to lose, shown with a plus sign on the moneyline or receiving points on the spread. |
| Chalk | Slang for the favorite, or for the favorites in general. |
| Cover | To beat the point spread. |
| Against the spread | A way of measuring results by the spread rather than the final score. |
| Push | A bet that ends in a tie with the line, so the stake is returned and nobody wins. |
| No action | A bet that is voided and refunded, usually because the event is canceled or a named participant does not play. |
| Sportsbook | A licensed business or venue that accepts bets on sporting events. |
| Bookmaker | A person or business that sets odds and accepts bets. |
| Handle | The total amount wagered with a sportsbook over a stated period, such as a day, a week or a season. |
| Hold | The share of handle a sportsbook keeps after paying winning bets, usually shown as a percentage. |
| Betting limit | The maximum amount a sportsbook will accept on a given bet or market. |
| Ticket | The record of a bet, on paper or in digital form, showing the selection, price and stake. |
| Settlement | The process of determining results for each bet and paying winning tickets. |
| Steam move | A rapid line change across many sportsbooks in a short time, often attributed to large or well-informed bets. |
| Reverse line movement | A line that moves in the opposite direction from the share of tickets bet on each side. |
| Line shopping | Comparing prices across several sportsbooks to find the best number for a bet. |
| Stale line | A line that has not been updated to reflect new information, so it differs from the rest of the market. |
| Off the board | A market that has been taken down and is not available for betting for a period, often because of uncertainty such as an injury report. |
Related Glossaries
Bet types such as the point spread, moneyline and parlay are defined in Types of Sports Bets: 25 Definitions With Examples. Odds formats and implied probability are covered in Betting Odds Terms: 24 Definitions With Examples. Words for the people who bet, such as sharp and square, are in Types of Gamblers: 24 Terms From Whales to Grinders, and money words such as bankroll and vig are in Gambling Money Terms: Bankroll, Stake, Vig and More. Short forms such as ATS are explained in Gambling Acronyms and Abbreviations: 24 Definitions.
