Glossary
Plain-English definitions. Where a term links to a guide, the guide has the sources.
- American odds
- Odds written with a plus or minus sign. +150: a $100 wager profits $150. -110: a $110 wager profits $100.
- Bonus bet
- Credit you can wager but usually cannot withdraw; typically you keep the winnings, not the bonus amount. Terms vary. See bonus fine print.
- Decimal odds
- Total return per $1 wagered, including the wager. 2.50 means a $1 wager returns $2.50 if it wins.
- Event contract
- A contract whose payout depends on an event's outcome, offered on prediction markets. Regulated differently from sportsbook wagers; see prediction markets vs sportsbooks.
- Form W-2G
- The IRS form a payer files to report certain gambling winnings and any federal tax withheld. See taxes.
- Fractional odds
- Profit relative to the wager. 5/2 means $5 profit per $2 wagered.
- Handle
- The total amount wagered with a sportsbook over a period.
- Hold
- The share of money wagered that a sportsbook keeps on average, shown by the margin in its prices. See the vig calculator.
- Implied probability
- The probability a price represents (1 divided by decimal odds). It includes the sportsbook's margin; it is not a forecast.
- Leg
- One selection inside a parlay.
- Moneyline
- A wager on which side wins, without a point spread.
- Overround
- How far the implied probabilities of all outcomes in a market exceed 100%. Another way to see the margin.
- Parlay
- A single wager combining several legs; every counted leg must win. See how parlays work.
- Point spread
- A margin of victory used to even out a matchup; a wager on the spread depends on the final score difference.
- Push
- A wager that lands exactly on the line; the stake is normally returned, and in a parlay the leg is usually removed.
- Rollover (playthrough)
- A multiple of an amount you must wager before a bonus or related winnings can be withdrawn.
- Self-exclusion
- A program in which you ask regulators or operators to bar you from betting for a set time. Often covers licensed operators only.
- Sportsbook
- A business that accepts wagers on sports. Legal ones are licensed by state or tribal regulators.
- Total (over/under)
- A wager on whether combined points or runs land above or below a number.
- Vig (juice)
- The margin built into betting prices. See how odds work.
- Void
- A wager or leg canceled by the operator, usually with the stake refunded or the parlay recalculated.