The thing about sports betting is that it comes in many shapes and sizes, as well as many different sports. You can bet small amounts, large amounts, place bets on the NFL, on basketball, ice hockey and the list continues. There are so many varieties within sports betting options that sometimes it can be a little tricky to keep track of. The best place to start is by understanding what you’re doing and to do that, you have to be aware of sports betting jargon and terminology. It makes absolutely no sense for you to engage with sports betting if you don’t know what you’re doing or the rules of the game.
Therefore, this article has established an extensive and insightful guide to help you along this process, so that you have a little more ease when engaging. This includes 7 of the most common pieces of terminology. You may have heard of these terms before, e.g., ‘odds’ but do you actually know what they mean and how it plays out in practice? You don’t? Well, then, you have well and truly come to the right place.
Odds Is The Language of Probability and Payouts
Odds represent the price of a bet and show both how likely an outcome is and how much you can win. They are the foundation of sports betting and appear in several formats, including decimal, fractional and American. In the US, American odds are common, while many international sites use decimal odds.
Odds tell you two things at once. First, they show how the bookmaker rates the probability of an event. Second, they show the potential payout. Higher odds usually mean a lower chance of winning but a bigger reward, while lower odds suggest a higher chance of success with smaller returns. Playing on sites that clearly outline the odds, like betway sports is ideal, as it means that you are playing on a transparent, safe and honest platform. This should always be your goal.
The Spread – How Bookmakers Balance Uneven Matchups
The spread is a way to balance out a matchup when one team is clearly stronger than the other. Instead of betting on who wins, you are betting on whether a team will win by a certain number of points or stay within that margin.
For example, if a team is listed at -7, it must win by more than seven points for the bet to succeed. If another team is +7, it can lose by up to six points or win outright for the bet to cash.
Moneyline is The Straightforward Way to Pick a Winner
A moneyline bet is the simplest type of wager. You are picking which team or player will win, with no point spreads involved. The odds show how much you need to risk or how much you can win.
This type of bet is popular because of its simplicity. There are no calculations around margins or totals. It is just about choosing the winner. Favorites have negative odds, meaning a higher stake is needed to win a smaller amount. Underdogs have positive odds, offering higher potential payouts for smaller stakes.
Over/Under Means Betting on the Flow and Total of the Game
The over/under, also known as totals, is a bet on how many points, goals or runs will be scored in a game. Instead of choosing a winner, you predict whether the combined score will go over or under a number set by the bookmaker.
This market is ideal if you have a strong sense of how a game will play out but not necessarily who will win. A defensive matchup might suggest the under, while two high-scoring teams point toward the over.
Parlay: Turning Multiple Bets into One High-Reward Ticket
A parlay combines multiple bets into one. All selections must win for the parlay to pay out. The appeal is the increased payout, as odds are multiplied together. Parlays come with both excitement and risk. One loss ruins the entire ticket, which makes them difficult to win consistently. Still, they remain extremely popular because of the high rewards.
Key things to remember about parlays include:
- Every selection must win for any payout to happen
- Payouts grow quickly as more bets are added
- Risk increases dramatically with each added leg
Your Stake Is Understanding How Much You Are Really Risking
The stake is the amount of money you place on a bet. It is the risk you are willing to take on a single wager. Managing your stake properly is one of the most important parts of responsible betting.
Smart staking keeps betting enjoyable and prevents losses from getting out of control. Instead of increasing stakes after losses, disciplined bettors set consistent limits and treat each bet independently.
Live Betting Means Placing Bets While the Action Is Happening
Live betting, also known as in-play betting, allows wagers to be placed while a game is already in progress. Odds change in real time based on what is happening during the match. This form of betting is fast-paced and highly interactive. Momentum shifts, injuries and tactical changes can all affect the odds. While exciting, live betting also carries risk because decisions must be made quickly, so please bear this in mind.
Well, there you have it, these are the main terms that you need to understand to get going.