NFL Betting Glossary
| Updated: 
There are specific terms you must learn when entering any new field. NFL betting uses terminology that most experienced bettors understand, but if you are a beginner, you will find this glossary useful.
You should not place sports bets if you do not understand the terminology. It may seem complicated at first, but it will become more familiar over time. Here, we have compiled some of the most commonly used terms covering different aspects of the sports betting industry. This is not an exhaustive list, but it includes the main terms you need to understand before moving on to more advanced betting material.
You will also find some less common terms explained here because you may encounter them. Knowledge is essential in sports betting, and we are here to provide it. First, we will cover general betting terminology, including various sportsbook terms. Next, we will explain terms related to different NFL betting options. Finally, we will provide the basic definitions needed to understand NFL odds and use them effectively.
Best Rated Bookmakers for United States-
Claim
$1000
Match Bonus9.718+ New customers only. 100% match bonus up to $1000. Min deposit $50. 10x rollover requirement. Promocode: MYB100 -
Claim
$250
Match Bonus9.4Join Bovada, make your first deposit and instantly receive a 50% Sports Welcome Bonus up to $250. -
Claim
$500
Match Bonus9.3Get a 100% Bonus, up to $500, to wager in the Xbet Sportsbook when you sign up and fund your new account with minimum of $45. Be sure to use promocode XB100 to claim this offer on your first deposit. 7x rollover requirement prior withdrawal. -
Claim
$200
Match Bonus9.2The bonus and the deposit need to be rolled over 4x at min. odds of -200 (1.5) before a payout is possible Max. $200 of every bet count towards the rollover. -
Claim
$150
Match Bonus9.1Get a 150% Bonus, up to $150, to wager in the BetUSR Sportsbook. Deposit minimum $100 and wager at least $500 within 30 days of registerening your account and you will automatically qualify for $150 CASH BONUS with just 1x wagering requirement.
General Punter Terminology
These are the terms you need to get started in sports betting. Before learning about more advanced concepts, you should understand the terms listed below. They are not overly complex, and the explanations are intended to make the basics as clear as possible. Some less frequently used terms are also included because they are often synonyms for more common ones.
| Term | Explanation |
|---|---|
| Sportsbook | A general term for a company that can legally accept wagers on sporting 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. It is sometimes referred to simply as the “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 | The commission or margin the sportsbook takes from bets. It may also be referred to as the “edge,” “overround,” or “juice.” |
| Beard | A person 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 terms related to specific types of bets. You may encounter different terminology depending on your location and the sportsbook you choose. You may also come across more exotic wagers that are too numerous to list here. These are the main sports betting terms you need to understand this and other NFL betting guides.
| 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 wager ties the sportsbook’s line. |
| Accumulator | A wager that combines at least two selections. |
| Exotic Wager | An uncommon or sport-specific type of bet. |
| Point Spread | A bet based on the number of points by which a team will win or lose, using a line set by the sportsbook. |
| Total | A bet on whether the combined score of a game will be over or under a number set by the sportsbook. |
| Moneyline | A bet on which team will win an NFL game. |
| Futures | A long-term bet, typically placed before the season begins, on the team you think will win a given American football event. |
| Props | A bet on a 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 move it against you. They apply to bets such as totals and point spreads. |
| If Bet | An if bet is a wager with multiple ordered selections. Unlike an accumulator, losing one selection does not necessarily mean losing the entire wager unless it is the first selection. Order matters with if bets. If your initial stake is $110 and your first bet wins, you receive its payout while the initial stake carries over to the next selection. If the second selection wins, the process continues to the third selection, and so on. |
| Reverse Bet | This bet covers all possible orderings of the selections in an if bet. For instance, if you place a reverse bet consisting of three games, you will have six bets in total, each with the selections in a different order. You must pay for each bet separately. |
Odds Terminology
Odds play an important role in NFL sports betting. Some of these concepts have already been mentioned, but we will simplify and summarize them here for your convenience. The terminology surrounding odds is relatively straightforward and should be easy to understand.
| Term | Explanation |
|---|---|
| Odds | The odds displayed for a sporting event determine how much a winning wager will return. |
| Odds On | Odds that are shorter than even money are referred to as odds-on. |
| Odds Against | Odds that are longer than even money 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 odds. |
| Decimal | The most common odds format, also referred to as European odds. |
| 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 available 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 accepted when you place your wager remain the same, regardless of how they change afterward. |
Conclusion
Congratulations, you now know the key terms needed to get started in NFL betting! It is essential for any new punter to understand these terms and become familiar with them. They appear on many NFL betting websites and in numerous betting guides. This knowledge is an important part of becoming a more informed sports bettor. To understand NFL betting in greater depth, you must first learn its basic terminology. Remember to bet responsibly.