KEY TAKEAWAYS
Sportsbook menus list dozens of bet types, and many of them have names that are not obvious at first glance. This glossary defines 25 types of sports bets, from the straight bet and the moneyline to parlays, teasers, futures and soccer handicap markets. Each entry gives a plain definition, an example of the term in use and a note where rules vary by venue or sport. The terms are grouped into four themes so related bets sit together: straight bets and sides, totals and props, combination bets, and futures and live markets. A quick-reference table near the end sums up each bet in one line. Terms for the odds themselves, such as American and decimal formats, are covered elsewhere on WagerLingo. The definitions describe how each bet is built and named, not which bets to place.
Straight Bets and Sides
A straight bet rests on a single outcome. The terms below name the most common ways of backing one side of a game.
Straight bet
Definition: A single wager on one outcome, such as one team winning or one total going over, settled on its own.
Example: “He placed a straight bet of $20 on the home team.”
Also called a single. It is the basic building block that parlays, teasers and other combination bets are made from.
Moneyline
Definition: A bet on which side wins the game outright, with no point spread involved.
Example: “The favorite was -150 on the moneyline, so a $150 bet would win $100.”
A plus price such as +130 means a $100 bet wins $130. Moneyline odds are usually quoted in American format.
Point spread
Definition: A bet on the margin of victory, in which the favorite must win by more than the posted number and the underdog can lose by less than it or win.
Example: “The team was -3.5, so it had to win by four or more.”
Also called the spread or the line. A whole-number spread can end in a push if the final margin equals it exactly.
Run line
Definition: The point spread used in baseball, which is typically set at 1.5 runs.
Example: “She took the underdog at +1.5 on the run line.”
The matching hockey bet is usually called a puck line, typically 1.5 goals. The exact number can differ by game or market.
Pick’em
Definition: A game with no favorite, in which the spread is zero and the bet is simply on which side wins.
Example: “The game was listed as a pick’em, so the winner decided the bet.”
Written as PK or 0 on many boards. If the game ties, the result depends on the rules of the market.
Three-way moneyline
Definition: A bet with three possible outcomes, home win, draw or away win, common in soccer.
Example: “On the three-way moneyline, a draw beats both team bets.”
Also called 1X2 or match result. A bet on one team loses if the match is drawn.
Totals, Props and Alternate Markets
Not every bet is about who wins. These markets ask about scoring, players or a variation of the main line.
Over/under
Definition: A bet on whether the combined score of both teams will be above or below a number set by the sportsbook.
Example: “The total was 47.5, and he bet the over.”
Also called the total. A whole-number total can push if the final score matches it exactly.
Team total
Definition: An over/under bet on the score of one team only, rather than the combined score of both.
Example: “She bet the under on the visiting team total of 21.5.”
Team totals are usually offered as an extra market beside the game total.
Prop bet
Definition: A wager on an event within or around a game that does not depend on who wins, such as a player’s statistics.
Example: “He made a prop bet on how many strikeouts the pitcher would record.”
Short for proposition bet. Offered markets and rules vary by venue and sport.
Player prop
Definition: A prop bet on an individual athlete’s statistics, such as points, yards or shots.
Example: “The player prop was over 24.5 points.”
Rules about what happens if a player does not play vary by venue, so the posted terms apply.
Alternate line
Definition: A spread or total offered at a different number than the main line, with the price adjusted to match.
Example: “He took an alternate line of -6.5 instead of the main -3.5.”
Moving the number in a bettor’s favor makes the price worse, and moving it against makes it better.
First-half bet
Definition: A bet that applies only to the first half of a game, such as a first-half spread, total or moneyline.
Example: “The first-half total was 23.5 points.”
Quarter, period and inning bets work the same way for shorter segments of play.
Both teams to score
Definition: A soccer bet on whether each team will score at least one goal in the match, often abbreviated BTTS.
Example: “A 1-1 draw settles both teams to score as a yes.”
The final score does not matter, only whether both sides score. It is available as a yes or no market.
Combination Bets
Combination bets join several selections into one wager or a package of wagers. The terms below describe how they are built.
Parlay
Definition: A single bet that combines two or more selections, all of which must win for the bet to pay.
Example: “A two-leg parlay at -110 each returns about $364 on a $100 stake.”
Also called an accumulator in British usage. A $100 stake at 1.909 twice is 100 × 1.909 × 1.909 ≈ 364.46. If one leg loses, the whole bet loses.
Same-game parlay
Definition: A parlay in which every leg comes from the same game, such as a team’s result and a player’s statistic.
Example: “He built a same-game parlay from the spread and a quarterback prop.”
Often abbreviated SGP. Legs from one game are related, so sportsbooks price them differently from legs in separate games.
Teaser
Definition: A parlay in which the point spreads or totals are moved in the bettor’s favor by a fixed number of points, in exchange for lower payouts.
Example: “In a six-point teaser, a -3 team becomes +3.”
All legs must still win. Payout tables and eligible sports vary by venue.
Round robin
Definition: A set of smaller parlays built automatically from a group of selections.
Example: “Four picks played by twos make a round robin of six parlays.”
Choosing 2 from 4 gives 4 × 3 ÷ 2 = 6 parlays. Each parlay is settled separately.
If bet
Definition: A bet in which the second wager is placed only if the first one wins.
Example: “He used an if bet, so the second wager only went in after the first won.”
Settlement rules differ by venue, and not every venue offers this bet.
Yankee
Definition: A British-style package of 11 bets on four selections: six doubles, four trebles and one four-fold accumulator.
Example: “A Yankee on four horses has 11 bets in total.”
Six doubles plus four trebles plus one four-fold gives 6 + 4 + 1 = 11. It needs at least two winners to return anything.
Futures, Live Markets and Strategy Terms
The last group covers bets placed on long-term or in-progress events, and two words that describe how bettors combine positions.
Futures bet
Definition: A wager on an outcome that will be decided well in the future, such as a league champion or a season award.
Example: “She placed a futures bet on a team to win the title in October.”
Also called an outright bet. Futures are settled when the event or season ends.
Live bet
Definition: A wager placed while a game is already in progress, with odds that change as play unfolds.
Example: “After the first quarter he made a live bet on the second-half total.”
Also called an in-play bet. Odds and available markets can change or be suspended during play.
Middle
Definition: A position created by betting both sides of a game at different numbers, so that both bets can win if the result lands between them.
Example: “He had the favorite at -3 and the underdog at +5, so a 4-point win was a middle.”
If the result falls outside the range, one bet usually wins and one loses.
Hedge
Definition: A bet placed on the opposing outcome of an earlier wager to reduce potential loss or lock in a result.
Example: “With her futures ticket still alive in the final, she placed a hedge on the other finalist.”
Hedging does not change the house edge. It trades some potential profit for reduced risk.
Asian handicap
Definition: A soccer handicap market that removes the draw by giving one team a head start in goals, often in quarter-goal steps.
Example: “A team at -0.5 on the Asian handicap needs to win the match.”
A quarter line such as -0.25 splits the stake between 0 and -0.5. Used in soccer and some other sports.
Draw no bet
Definition: A soccer bet on one team to win in which the stake is refunded if the match ends in a draw.
Example: “He chose draw no bet on the home team and got his stake back on a 0-0 draw.”
It is the three-way market with the draw removed, and it usually pays less than a plain win bet.
Quick-Reference Table
| Term | Short definition |
|---|---|
| Straight bet | Single wager on one outcome |
| Moneyline | Bet on the outright winner |
| Point spread | Bet on the margin of victory |
| Run line | Baseball spread |
| Pick’em | Spread of zero |
| Three-way moneyline | Win, draw or loss |
| Over/under | Bet on the combined score |
| Team total | Over/under for one team |
| Prop bet | Bet on a specific event |
| Player prop | Prop on one athlete’s stats |
| Alternate line | Different number, adjusted price |
| First-half bet | Bet on the first half only |
| Both teams to score | Yes or no on both scoring |
| Parlay | All legs must win |
| Same-game parlay | Parlay within one game |
| Teaser | Parlay with shifted lines |
| Round robin | Several small parlays from one group |
| If bet | Second bet depends on the first |
| Yankee | 11 bets on 4 selections |
| Futures bet | Bet on a distant outcome |
| Live bet | Bet placed during the game |
| Middle | Both sides can win |
| Hedge | Bet the other side |
| Asian handicap | Soccer handicap without a draw |
| Draw no bet | Stake returned on a draw |
Related Glossaries
Sports betting vocabulary builds on general gambling words. Terms such as vig and push are defined in the gambling money terms glossary, and the language of betting actions in card rooms is covered in the poker betting terms glossary. The entries above explain where a word has a narrower meaning in sports betting.
