Sports betting is a growing industry with an influx of new enthusiasts, thanks to the recent legalization in many U.S. states and the rise of online platforms. Whether you’re new to sports betting or a seasoned bettor looking to refine your strategy, understanding the key sports betting terms is essential to making informed decisions and maximizing your success.
In this article, we will cover the top 10 sports betting terms that every bettor should know and break down the current sports betting landscape, including recent legalization, notable figures in the sports betting world, and how social media influences betting picks.
Top 10 Sports Betting Terms
1. Moneyline
The moneyline bet is one of the simplest sports betting terms and wagers you can place. With this bet, you’re simply choosing which team or player will win the game or match outright. There’s no point spread involved, just the odds. For example, a -150 favorite means you’d need to bet $150 to win $100, whereas a +150 underdog means a $100 bet would win you $150.
2. Point Spread
One of the most popular sports betting terms, the point spread is a way to even the playing field between two teams. A spread represents the number of points by which a team is expected to win or lose. For example, if Team A is favored by -6.5, they must win by at least 7 points for a bet on them to win.
3. Over/Under (Totals)
The over/under bet involves predicting whether the total points scored by both teams in a game will go over or under a set number. This is popular for bettors who don’t want to choose a winner but want to focus on the game’s pace or scoring potential.
4. Parlay
A parlay combines two or more bets into one, offering higher payouts but with more risk. All the individual bets in the parlay must win for the bettor to receive a payout. This term is crucial for bettors who enjoy maximizing their potential winnings with a small initial bet.
5. Prop Bet (Proposition Bet)
A prop bet focuses on specific events within a game rather than the outcome. For example, you might bet on how many points a specific player will score or how many yards a quarterback will throw. Prop bets are especially popular in major events like the Super Bowl.
6. Futures Bet
A futures bet is placed on an event that will happen in the future, such as who will win the Super Bowl or the MVP award. These bets often offer higher payouts due to the uncertainty over time.
7. Handle
The handle refers to the total amount of money wagered on a particular event or over some time at a sportsbook. Understanding this term is crucial for bettors who like to keep track of betting trends and overall market movement.
8. Juice (Vigorish)
Juice, or vig, is the commission that sportsbooks take from bets. Typically, sportsbooks take a 10% commission on losing bets, but this percentage can vary. For example, if you’re betting on an NFL game with a -110 line, you’d need to bet $110 to win $100, with the extra $10 being the vig.
A teaser bet is similar to a parlay but allows the bettor to adjust the point spread or totals in their favor. This decreases the payout, but it also lowers the risk. Teasers are popular in sports like football and basketball.
10. Push
A push occurs when there’s no winner or loser on a bet, and the wager is refunded. This happens in point spread bets when the final result lands exactly on the spread. For example, if you bet on a team at -7 and they win by 7, it’s a push.
The Current Sports Betting Landscape
The sports betting landscape in the United States has drastically changed since the Supreme Court’s decision to overturn PASPA (Professional and Amateur Sports Protection Act) in 2018. This ruling allowed states to decide individually whether to legalize sports betting, leading to rapid growth in the industry.
States That Have Legalized Sports Betting in the Last Five Years
Several states have embraced legal sports betting since 2018, with many of them now offering online betting platforms. Here are some notable states that have legalized sports betting in recent years:
- New Jersey (2018) – One of the first states to legalize sports betting, New Jersey quickly became a hub for bettors and now generates millions in tax revenue annually.
- Pennsylvania (2018) – Following New Jersey, Pennsylvania established a robust sports betting market with both in-person and online betting options.
- Colorado (2020) – Known for its highly competitive market, Colorado offers numerous sportsbooks and is one of the fastest-growing sports betting industries.
- Michigan (2021) – Michigan legalized sports betting, including mobile betting, which has attracted major sportsbooks to the state.
- Arizona (2021) – Sports betting in Arizona has gained traction, particularly during major sporting events such as the Super Bowl and March Madness.
The legalization in these and other states has significantly increased the popularity of sports betting, and with it, a need for understanding sports betting terms.
Notable Celebrities Who Sports Bet
Several high-profile celebrities have become known for their sports betting activities, either through public declarations or their involvement in the industry:
- Floyd Mayweather – The boxing legend is known for his love of sports betting and frequently posts large winning bets on his social media.
- Michael Jordan – Before becoming the owner of the Charlotte Hornets, Jordan was known for his love of gambling, including sports betting.
- Charles Barkley – The NBA Hall of Famer has openly discussed his passion for sports betting, often making headlines for his high-stakes wagers.
- Ben Affleck – The Oscar-winning actor is a frequent sports bettor, often seen betting on NFL and MLB games, sometimes alongside fellow celebrity Matt Damon.
These celebrities have contributed to the growing acceptance of sports betting, bringing it further into the mainstream and helping to normalize the practice.
Why Instagram Sports Bettors Only Show Winning Picks
In the world of sports betting, especially on platforms like Instagram, it’s common to see influencers post their “winning” bets while conveniently omitting their losses. This practice can create a distorted image of success and profitability in sports betting. Here’s why they do it:
- Perception of Expertise – By only showcasing winning bets, these influencers can create the perception that they are expert bettors with a high success rate. This helps them attract followers, sell picks, and build their brand.
- Selling Premium Picks – Many influencers offer free picks on Instagram but sell “premium picks” to followers. By showing only the wins, they entice bettors into purchasing these paid services under the assumption of consistent success.
- Omitting Losses – Hiding losses is a way to maintain credibility. The reality of sports betting is that even the best bettors lose frequently, but showing these losses might reduce their perceived authority.
This behavior has become a common tactic for influencers in the sports betting industry. As a bettor, it’s crucial to approach social media picks with caution and do your research rather than blindly following accounts that only show the good side of betting.
Understanding Sports Betting Terms
Understanding sports betting terms is essential for anyone who wants to succeed in the betting world. From the money line to parlays, these terms form the foundation of sports betting strategies. As the sports betting landscape continues to evolve with new states legalizing the practice and notable public figures getting involved, having a solid grasp of these concepts can help you make more informed decisions. Always remember that sports betting, like any form of gambling, comes with risks, and responsible betting is key.
For those looking to engage with sports betting in a more meaningful way, now is the time to familiarize yourself with these key terms and the ever-changing landscape of the industry.
