Bankroll
Money that you can afford to set aside and invest for betting purposes only.
Chalk
The betting favourite, more often one that is heavily favoured to win.
Chasing Losses
The act of making reckless bets you otherwise wouldn’t have, just because you lost a bet.
Favourite
The side that is projected to win by oddsmakers.
Juice
The commission a sportsbook earns on each bet that is made. If the odds are even on a bet, a sportsbook will generally make the bet -110 so they keep the -10.
Live Betting
Betting on a game while it is unfolding. Also referred to as “in-play betting”.
Lock
A term used by inexperienced bettors to describe an “easy winner”.
Tip: There is no such thing as a “lock”. Anything can happen in sports, including outcomes that are impossible to predict such as injuries and bad ref/judge calls, so proper bankroll management is essential.
Moneyline
Betting a team to win the game straight up.
Mush
A gambler who is considered to be bad luck.
Parlay
A type of bet where you combine two or more bets, earning a higher payout if all of them win. If one of the combined bets loses, the whole parlay loses.
Pick’em
A game in which there is no favourite or underdog. Oddsmakers believe that neither side has a clear advantage over the other.
Push
The result of a tie between the bettor and the sportsbook. The bettor is refunded their money, and doesn’t lose any juice.
Steam
When a sudden and large line movement occurs across the sports betting marketplace. Steam occurs when a large amount of money is being placed on a certain bet.
Underdog
The side that is projected to lose by oddsmakers.
Unit
Units are a simple way of measuring the size of a bet regardless of the individual’s bankroll size. 1 unit = 1% of your bankroll. So if you have a bankroll of $10,000, a 1 unit bet would be $100, a 5 unit bet would be $500, and so on.