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The following is a Glossary of Gambling Terms for: NFL betting, College Football betting, NCAA Football betting, Baseball Betting, MMA Betting, UFC betting, Boxing wagering, NHL betting, NBA betting, NCAA Basketball betting, College Basketball Betting and other major sports. Sep 04, 2014 Unfamiliar with common betting terms? The staff of the ESPN Betting section puts together a glossary of terms every bettor should know. For example, in a football game, if a team is a 2.5.

NFL betting is becoming increasingly popular outside of the United States. With even more regular season games planned on UK soil and talk of a London franchise, the popularity of NFL betting will only continue to rise over the next few years. Read on for a comprehensive guide to NFL betting.

The NFL has consistently built on its International Series over the past few years and this season, the UK will host a minimum of three overseas games. Whilst games in UK only make up a fraction of the regular season fixtures, football fans can still watch the NFL all year round, so with more and more fans watching, this is the perfect time to learn about NFL betting.

NFL betting: Available markets

There are three basic bet types in NFL betting; Money Line, Handicap and Totals - the same as basketball betting.

Money Line

The Money Line (1X2 without the draw) is also commonly used amongst novice bettors because it is simple and straightforward - it is essentially betting on who will win the game.

Handicap

Opposing NFL teams vary in strength so in order to counter the perceived bias in abilities, bookmakers offer a points handicap to level the playing field - this is often referred to as “the spread”.

Experienced bettors will most likely think about things like how the weather can impact the result or whether a team is playing at home or on the road.

The handicap market is popular with more advanced bettors as it balances each team’s chances and offers more value - it is used as the standard reference point for referring to relative chances in a game.

By using a hypothetical example, we can explain how betting on a handicap works. Both teams are offered associated odds on either a plus or minus points score, so for example the Indianapolis Colts might be offered at -6 1.909 against the New York Giants at +6 2.020.

A bet on Indianapolis would win if the Colts win by six or more points, and similarly a bet on the Giants would have paid if they win the game, or lose by less than six points.

If the result was 29-17 to the Colts, those bettors who bet on the Colts to win -6 1.909 would have a winning bet as the point difference is 12. Six more than the handicap offered.

Totals

Totals NFL betting focuses on how many combined points will be scored by both teams during the game. Bookmakers offer an option to bet on whether or not the total points will be either over or under the totals mark. This is why this form of betting is often referred to as the Over/Under.

In both the handicap and totals markets, when a team exceeds the required points for a successful bet it is called ‘covering the bet’.

Alternative NFL betting markets

In addition to the more common betting markets, NFL bettors can also bet on time specific markets within a game (first quarter, first and second half), adjusted handicap markets (alternative handicap) and individual team totals. These markets are merely variations of the basic bet types mentioned above and work in the same way.

Outright NFL betting is also an option for bettors. These bets will usually run over a longer period of time and often span across an entire season. Examples of outright markets in NFL betting include season win totals for individual teams, Division winners, winner of the Super Bowl and the Super Bowl MVP (most valuable player).

Because the Super Bowl is such a big occasion in terms of NFL betting, there are often special markets posted for the event - these include scorer of the first touchdown and winner of the Super Bowl coin toss.

Developing an NFL betting strategy

Once you have mastered the basics of NFL betting, you may want to explore some more advanced strategies like a spread betting strategy. Bettors looking to bet on the NFL handicap must take into consideration a number of factors about the game, instead of just the chances of team X beating team Y.

By understanding what the key numbers are, you can avoid betting on a bad handicap and can even work out which team the bookmaker wants you to bet on.

The spread in NFL betting refers to how many points X is better than Y and an experienced bettor will most likely think about things like how the weather can impact the result - as this could effect the number of points scored - or whether a team is playing at home or on the road (away).

Professional NFL bettors spend time building power ranking systems to evaluate teams’ relative strengths and calculate who will have the advantage in any given game. This is then measured against the handicaps and odds offered by bookmakers – looking for discrepancies that represent value.

Collating reliable information is an integral part of any successful betting strategy. However, for those bettors new to NFL betting, there are some accessible handicapping systems that can produce accurate results in the short term.

Yardage differential

At the most basic level, the NFL is about the battle between offensive and defensive units. So one simple way to evaluate the strength of an NFL team is to look at the average offensive yards gained per play and the average defensive yards allowed per play.

As you would expect, teams that gain more yards than they allow tend to win. While this isn’t exclusively accurate, this measure can be used as a tool to predict future performances using a yards per play betting strategy.

Home-field advantage

NFL operates in a unique ‘closed’ league system, where relegation and promotion do not occur. From a statistical point of view, the data from successive seasons for such factors as home-field advantage (HFA) is robust.

To work out HFA for each franchise competing in the NFL you should subtract the total points scored by visiting teams from the home teams and divide by the total number of games played.

You will notice after working out the HFA for the past 20 years, each Franchise HFA is close to a 3-point mark, which has become standard for handicapping purposes - find out which NFL teams have the biggest home field advantage.

Key NFL betting numbers

In terms of the handicap in NFL betting, there are a few key numbers that bettors should be aware of. By understanding what the key numbers are, you can avoid betting on a bad handicap and can even work out which team the bookmaker wants you to bet on.

Similarly to the Run Line in baseball betting, most games in the NFL are decided by specific margins. The is the most common margin of victory in the NFL as most games are decided late on by a field goal (three points), while seven is the second most common winning margin, as this is how many points a team is awarded for a touchdown plus an extra point for a successful conversion.

It is estimated that around 30% of NFL games are decided by three or seven points. This means that -2.5, +3.5, -6.5 and +7.5 are perhaps the most important numbers when it comes to betting on the handicap in the NFL. Sharp bettors will often wait for the handicap figure to fall around this mark before placing the bet they want to make.

Action: Having a wager on a game.

ATS ('against the [point] spread'): If a team is 5-2 ATS, it means it has a 5-2 record against the point spread, or more commonly referred to simply as the 'spread.'

Backdoor cover: When a team scores points at the end of a game to cover the spread unexpectedly.

Bad beat: Losing a bet you should have won. It's especially used when the betting result is decided late in the game to change the side that covers the spread. Also used in poker, such as when a player way ahead in the expected win percentage loses on the river (last card).

Beard: Someone who places a wager for another person (aka 'runner').

Book: Short for sportsbook or bookmaker; person or establishment that takes bets from customers.

Bookie: A person who accepts bets illegally and charges vig.

Buying points: Some bookies or sportsbooks will allow customers to alter the set line and then adjust odds. For example, a bettor might decide he wants to have his team as a 3-point underdog instead of the set line of 2.5. He has then 'bought' half a point, and the odds of his bet will be changed.

Chalk: The favorite in the game. People said to be 'chalk' bettors typically bet the favorite.

Circle game: A game for which the betting limits are lowered, usually because of injuries and/or weather.

Closing line: The final line before the game or event begins.

Consensus pick: Derived from data accumulated from a variety of sportsbooks in PickCenter. The pick, and its percentage, provides insight as to what side the public is taking in a game.

Cover: The betting result on a point-spread wager. For a favorite to cover, it has to win by more than the spread; an underdog covers by winning outright or losing by less than the spread.

Dime: Jargon for a $1,000 bet. If you bet 'three dimes,' that means a $3,000 wager.

'Dog: Short for underdog.

Dollar: Jargon for a $100 bet. Usually used with bookies; if you bet 'five dollars,' that means a $500 wager.

Edge: An advantage. Sports bettors might feel they have an edge on a book if they think its lines aren't accurate.

Even money: Odds that are considered 50-50. You put up $1 to win $1.

Exotic: Any wager other than a straight bet or parlay; can also be called a 'prop' or 'proposition wager.'

Favorite: The expected straight-up winner in a game or event. Depending on the sport, the favorite will lay either odds or points. For example, in a football game, if a team is a 2.5-point favorite, it will have to win by three points or more to be an ATS winner.

Fixed: A participant in a particular game who alters the result of that game or match to a completely or partially predetermined result. The participant did not play honestly or fairly because of an undue outside influence.

Futures bet: A long-term wager that typically relates to a team's season-long success. Common futures bets include betting a team to win a championship at the outset of a season, or betting whether the team will win or lose more games than a set line at the start of the season.

Halftime bet: A bet made after the first half ended and before the second half begins (football and basketball primarily). The oddsmaker generally starts with half of the game side/total and adjusts based on what happened in the first half.

Handicapper: A person trying to predict the winners of an event.

Handle: The amount of money taken by a book on an event or the total amount of money wagered.

Hedging: Betting the opposing side of your original bet, to either ensure some profit or minimize potential loss. This is typically done with futures bets, but can also be done on individual games with halftime bets or in-game wagering.

High roller: A high-stakes gambler.

Hook: A half-point. If a team is a 7.5-point favorite, it is said to be 'laying seven and a hook.'

In-game wagering: A service offered by books in which bettors can place multiple bets in real time, as the game is occurring.

Juice: The commission the bookie or bookmaker takes. Standard is 10 percent. Also called the 'vig/vigorish.'

Layoff: Money bet by a sportsbook with another sportsbook or bookmaker to reduce that book's liability.

Limit: The maximum bet taken by a book. If a book has a $10,000 limit, it'll take that bet but the book will then decide whether it's going to adjust the line before the bettor can bet again.

Lock: A guaranteed win in the eyes of the person who made the wager.

Middle: When a line moves, a bettor can try to 'middle' a wager and win both sides with minimal risk. Suppose a bettor bets one team as a 2.5-point favorite, then the line moves to 3.5 points. She can then bet the opposite team at 3.5 and hope the favorite wins by three points. She would then win both sides of the bet.

Money line (noun), money-line (modifier): A bet in which your team only needs to win. The point spread is replaced by odds.

Mush: A bettor or gambler who is considered to be bad luck.

Football Betting Terms And Meanings

Nickel: Jargon for a $500 bet. Usually used with bookies; if you bet 'a nickel,' that means a $500 wager.

Oddsmaker (also linemaker): The person who sets the odds. Some people use it synonymous with 'bookmaker' and often the same person will perform the role at a given book, but it can be separate if the oddsmaker is just setting the lines for the people who will eventually book the bets.

Off the board: When a book or bookie has taken a bet down and is no longer accepting action or wagers on the game. This can happen if there is a late injury or some uncertainty regarding who will be participating.

Over/under: A term that can be used to describe the total combined points in a game (the Ravens-Steelers over/under is 40 points) or the number of games a team will win in a season (the Broncos' over/under win total is 11.5). Also used in prop bets.

Betting On Football

Parlay: A wager in which multiple teams are bet, either against the spread or on the money line. For the wager to win (or pay out), all of them must cover/win. The more teams you bet, the greater the odds.

Pick 'em: A game with no favorite or underdog. The point spread is zero, and the winner of the game is also the spread winner.

Point spread (or just 'spread'): The number of points by which the supposed better team is favored over the underdog.

Proposition (or prop) bet: A special or exotic wager that's not normally on the betting board, such as which team will score first or how many yards a player will gain. Sometimes called a 'game within a game.' These are especially popular on major events, with the Super Bowl being the ultimate prop betting event.

Push: When a result lands on the betting number and all wagers are refunded. For example, a 3-point favorite wins by exactly three points. Return on investment (ROI): In PickCenter, ROI is the amount (according to numberFire) that a bettor should expect to get back on a spread pick.

Runner: Someone who makes bets for another person (aka 'beard').

Sharp: A professional, sophisticated sports bettor.

Spread: Short for point spread.

Square: A casual gambler. Someone who typically isn't using sophisticated reasoning to make a wager.

Steam: When a line is moving unusually fast. It can be a result of a group or syndicate of bettors all getting their bets in at the same time. It can also occur when a respected handicapper gives a bet his followers all jump on, or based on people reacting to news such as an injury or weather conditions.

Straight up: The expected outright winner of the money line in an event or game, not contingent on the point spread.

Teaser: Betting multiple teams and adjusting the point spread in all the games in the bettor's favor. All games have to be picked correctly to win the wager.

Total: The perceived expected point, run or goal total in a game. For example, in a football game, if the total is 41 points, bettors can bet 'over' or 'under' on that perceived total.

Tout (service): a person (or group of people) who either sells or gives away picks on games or events.

Underdog: The team that is expected to lose straight up. You can either bet that the team will lose by less than the predicted amount (ATS), or get better than even-money odds that it will win the game outright. For example, if a team is a 2-1 underdog, you can bet $100 that the team will win. If it wins, you win $200 plus receive your original $100 wager back.

Vig/vigorish: The commission the bookie or bookmaker takes; also called the 'juice.' Standard is 10 percent.

Wager: A bet.

Welch: To not pay off a losing bet.

Wiseguy: A professional bettor. Another term for a 'sharp.'