NFL Betting Glossary
| Updated: November 10, 2025
There are always specific terms you must learn when entering a new field. In this case, the NFL betting world includes words that most punters understand, but if you are just a beginner, you will find this glossary very useful.
You should not get involved in sports betting if you do not understand the terminology. It can be a bit complicated at first, but you will get used to it quickly. Here, we have compiled some of the most commonly used terms that refer to different aspects of the sports betting industry. Of course, this is not all of the terminology, but these are the main ones you need to know to get by and start reading more advanced punter material.
You will find some less common terms explained here as well, because you might encounter them. The key to success in this industry is knowledge, and we are here to provide it. First, we will go over some basic punter terminology, which also includes various sportsbook terms. Then, we will explain some of the terms related to different betting options in NFL wagering. Lastly, we will give you the basic definitions needed to understand NFL odds and make good use of them.
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General Punter Terminology
These are the terms you need to get started in this industry. That is to say, to begin learning about it, you first need to understand the terms listed below. There is nothing too complex, as we are simply trying to clarify the basics as much as possible and not confuse anyone further. Some less frequently used terms are included here as well, because they are mostly synonyms for other, more general ones.
| Term | Explanation |
|---|---|
| Sportsbook | This is a general term used to refer to a company that can legally accept wagers on sports events from the public. It can refer to both land-based and online betting venues. |
| Bankroll | The total amount of money you have set aside for betting. |
| Bettor | A person who places bets on sports, also called a punter. |
| Bookie | The shortened form of bookmaker. |
| Bookmaker | A person or organization that accepts bets from the general public. |
| Underdog | A team or player expected to lose. Sometimes also referred to as simply ‘dog’. |
| Favorite | A team or player expected to win. |
| Dog Player | A punter who often bets on underdogs. |
| Chalk | To bet chalk means to bet on the favorite. |
| Edge | Any kind of advantage. |
| Field | A term used to refer collectively to all participants in a sporting event. |
| Vigorish | This is the cut the sportsbook takes from all bets. It can also be referred to as ‘edge’, ‘over-round’, or ‘juice’. |
| Beard | A beard is someone who places a sports bet on someone else’s behalf. |
| IBAS | The Independent Betting Adjudication Service, based in the UK, helps resolve disputes between sportsbooks and bettors. |
NFL Bets Terminology
Below, you will find some betting-specific terms. You may encounter different ones based on your geographical location and the sportsbook you choose. You may also come across more exotic bets that are simply too numerous to list here. These are the main terms concerning sports bets that you need to know to understand this, or any other, NFL betting guide.
| Term | Explanation |
|---|---|
| Bullseye | A £5 bet. |
| Fin | A $5 bet. |
| Buck | A $100 bet. |
| Dime | A $1,000 bet. |
| Grand | A £1,000 bet. |
| Push | The result when a bet ends in a tie. |
| Accumulator | A wager that combines at least two selections. |
| Exotic Wager | An uncommon or sport-specific type of bet. |
| Point Spread | A bet on the number of points by which a team will win or lose, using a number set by the sportsbook. |
| Total | Betting on whether the total score of a game will be over or under a number set by the sportsbook. |
| Moneyline | A bet on the team you think will win an NFL game. |
| Futures | A bet that can typically be placed only at the beginning of the season on the team you think will win a given American football event. |
| Props | A bet on a very specific outcome that is not always related to the final result of the game. For instance, ‘will player X score a touchdown’ is a common NFL prop bet. |
| Pleasers & Teasers | These are more advanced bets. Teasers move the line in your favor, while pleasers do the opposite. This is applicable to bets such as totals and point spreads. |
| If Bet | An if bet is a wager with multiple selections. Unlike an accumulator, if you lose one of your bets you do not lose everything unless it was your first selection. Order matters for if bets. If your initial stake is $110 and you win your first bet, you receive your payout while your initial stake carries over to the next selection. If the second one wins, it continues to the third, and so on. |
| Reverse Bet | This bet covers all possible position outcomes of an if bet. For instance, if you place such a bet consisting of three games, you would end up with six bets in total, each in a different order. You must pay for each of them separately. |
Odds Terminology
As you should know by now, odds play a very important role in NFL sports betting. We have already explained most of these terms, but we will simplify and summarize everything here for your convenience. The terminology surrounding odds is quite straightforward, and you should have no problem understanding it.
| Term | Explanation |
|---|---|
| Odds | The odds displayed for a sports betting event determine how much a winning wager will return. |
| Odds On | Odds that are shorter than evens are referred to as Odds On. |
| Odds Against | Odds that are longer than evens are referred to as Odds Against. |
| Even Money | This means that the odds are exactly 1:1. |
| Evens | Short for even money. |
| Moneyline | An odds format also referred to as American. |
| Decimal | The most common odds format, also referred to as European. |
| Fractional | A less common odds format, sometimes referred to as UK odds. |
| Line | The odds or point spread offered on a sporting event. |
| Arbitrage | A situation in which the odds allow you to place two or more bets and secure a guaranteed profit. |
| Drifting | Odds that continue to get bigger are said to be drifting. |
| Fixed Odds | This means that the odds at the time of your wager will remain the same for you, regardless of how they change as the game progresses. |
Conclusion
Congratulations, you now know everything you need to get started in the NFL betting world! It is absolutely essential for any new punter to understand these terms and know them by heart. They appear on almost every NFL betting website or guide. This knowledge is an important part of becoming a successful sports bettor. To grasp the full depth of NFL betting, you must first understand these terms. Remember to bet responsibly.