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Popular Betting Terms

Online sports betting can be a great way to enhance the excitement of a game, and it gives punters the opportunity to win big online. However, for anyone just starting out, the various betting terms can be quite confusing at first. Most people know the basic terms like bookmaker, favourite and moneyline, but not the more intricate jargon that often accompanies most bets. To make things easier for you, we take a look at the most popular betting terms found at Canada sports betting sites.

Basic Betting Terms

  • Betting Exchange: A peer-to-peer online betting site where you can place bets against fellow punters
  • Handicap: A type of system used by online bookmakers to make a bet more attractive. This is usually used when two teams are unevenly matched. The weaker team will be given a virtual point advantage.
  • Line: The current odds or spread given on a particular event.
  • Live Sports Betting: This is where punters can place bets during the game as the action unfolds. The odds change every few minutes or whenever a major shift takes place.
  • Odds on: This refers to odds where the price is less than 2 for decimal odds.
  • Odds Against: This refers to priced odds greater than 2 for decimal odds.
  • Prop Bets: Prop bets are unique bets that are offers on certain sports where individual statistics or players within the game. Examples of a prop bet can include which team will score first, total number of shots at goal or who will win man of the match.
  • Parlay: In mobile sports betting, a parlay is where two or more bets are placed on different outcomes. The stake and winnings from each bet is reinvested in the next bet. All bets in the parlay must be correct in order to pay out.
  • Moneyline: A moneyline bet is any bet placed where no pointspread is offered.
  • Pointspread: A virtual handicap given to the underdogs by online betting sites to make the bet viable.

Terminology You Need to Know

  • ATS (Against the Spread): If a team is 4-1 ATS, they have a record of 4 to 1 against the point spread.
  • Exotic: Also known as a prop bet. This is any wager that is not a straight bet or parlay bet.
  • Future: All the best sports betting brands will offer future bets on the biggest tournaments. Futures are bets that can be placed weeks or months in advance on major tournaments. Examples of future bets include which team will win the Super Bowl, who will win Wimbledon, the F1 Season Champion, Premier League winners or Stanley Cup Winners.
  • Even Money: Even money refers to odds that are 50-50. In this case, the amount wagered is the same as the potential winnings. For example, if you bet $5, you win $5.
  • Over/Under: Also known as line betting, this is where the sports betting Canada sites will set a total that is the combined number of goals or points scored in the game/match by both teams. Punters can then choose to place wagers on whether the actual number of goals will be above or below the total.