Sports Betting Idioms , Phrases With Meanings
Written by
Joe - Poker PlayerLast updated:
August 28, 2024
Sports betting is booming in popularity, and by 2024, its popularity is expected to double. Like any other gambling involving particular terminology and jargon, bettors use slang and specific phrases while wagering on their favorite sports.
If you are a novice sports bettor, read this article carefully to learn all the most common sports betting terms, phrases, slang, and jargon with their meanings.
Key Takeaways:- Gambling and more specifically sports betting come with its specific terminology making sports betting community unique and somewhat weird for novice bettors.
- Sports betting terms include phrases and idioms about odds, markets, different types of wagers, different kinds of sports bettors, and more.
- There are more than hundreds of terms related to sports gambling. But as a newcomer you do not need to learn them all. The most common sports betting terms are parlay, Degen, hedge, and cover, to name a few.
25+ Sports Betting Terms & Idioms Explained
The number of sports betting terms and phrases is nearly unlimited which makes novice bettors quite terrified to get in on the action. However, to get started, you should not learn and memorize every single word. You just need to understand the main concepts and learn the following most common terms and idioms.
1. Down To The Wire
You might not know, but this phrase comes from horse racing. In the old days, a thin wire was strung above the track’s finish line during horse races to help the horse that crossed the line first become easily recognizable to the officials. Later, the wire was used in modern tracks for the same purpose to help cameras better recognize the first finisher. Tight races went literally to the wire, meaning first and second finishers pass the line so close to each other.
Today, the expression is procrastinators’ favorite! Because it refers to something being incomplete, unfinished, or unsure until the very last possible moment. For example, this paper is coming down to the wire! This means you think you can finish it, but you are unsure.
2. All Bets Are Off
This is another gambling expression indicating the end of a pre-existing agreement or a situation has become unpredictable. The phrase is not specific to sports betting and is usable in any form of gambling. For example, suppose an unexpected change in circumstance forces you to change your viewpoint or opinion about the bet you already placed. In that case, this is where all bets are off! Another example might be you planning to picnic, but suddenly a rainstorm occurs. In this case, your plan could be canceled or continue as scheduled. Every situation that seemed certain but now is unclear can be described as all bets are off!
3. Ace In The Hole
This phrase is poker-originated. However, it is no longer limited to the world of poker. In general, an ace in the hole refers to a resource or situation reserved to be used later for an advantage.
In poker, specifically stud poker, a hole card is a card that is kept facedown until played for its winning value. However, the phrase can indicate an advantage being reserved in any game, sporting event, business, political race, economic competition, negotiation, etc. For example, if a talented player is kept on the bench until the right moment of the match, then he goes to the field and makes the team win; the player is referred to as the team’s ace in the hole!
4. Win Hands Down
This is another phrase that originated from horse racing. Since the mid-19th century, win hands down was used in horse race coverage when a horse was way far ahead and expected to finish first. In this case, the rider can relax, lower his hands, and loosen his grip on the reins, which indicates a confident finish. Situations like this, where you can win easily or by a large margin, are known to win hands down!
5. Dark Horse
As the horse in the phrase suggests, dark horse is another horse racing phrase that entered the politics slang glossary. The phrase also is used on sports and non-gambling occasions.
In horse racing, dark horse refers to a horse that is unknown to track organizers and odd makers. The word dark has nothing to do with the horse’s color; instead, it refers to the unknown characteristics of the horse, like sire and breeding lineage.
In politics, the phrase refers to a candidate who comes out of the blue and suddenly gains popularity. In general, anyone who comes from nowhere but experiences sudden fame can be referred to as a dark horse!
6. Behind the Eight or 8 Ball
As you may have guessed, this phrase comes from billiards or pool called 8 ball. This phrase refers to a situation where a player’s ball is positioned behind an eight ball, making it a very disadvantageous and difficult shot. As you may know, in the game of billiards, each player must shoot and hit numbered balls(in numerical order) into their corresponding pocket before the ball number 8.
The phrase behind the eight ball refers to a disadvantageous, awkward, or losing situation. For example, I am really behind the eight ball this semester; I have a lot of pending projects due next week.
7. Win By a Nose
In horse racing, the horse’s nose is the first body part that passes the finish line, and it is the measure for officials to declare a winner. Although the human’s nose is not the first body part crossing the finish line, win by a nose expression is used in all sporting events to describe a close contest. The expression also indicates a neck-and-neck competition, where only a small margin,i.e., nose margin, differentiates a loser from the winner.
8. Bet The Farm
This is a general gambling-inspired idiom, which is mostly heard in the US and North America. When someone says you should bet the farm, they mean you must risk everything on what you think is true or what you think will succeed. The expression is similar to the all-in while playing poker. In this situation, the player bets all his chips because he believes he has the winning hand. Similarly, in daily life, when you bet the farm, you risk everything you have or spend all your money hoping to succeed.
9. Home Stretch
This is another daily expression we borrowed from horse racing! The home stretch refers to the closing portion of the track, which is the last straightaway between the final turn and the finishing line. The phrase generally refers to the last stage of a project, process, journey, etc.
10. Across The Board
In horse racing, the phrase refers to place and show, i.e., to wager on the same horse to win. Out of the track, in daily life, across the board means to include everything or everyone in a given scenario, like across the board layoffs.
11. Odds
Odds simply mean the likelihood of an event happening. For example, when you toss a coin, the odds for tail to show up is 50%. In sports betting, odds are represented in various formats while all convey the same meaning. The most common odds listing format in the US is Moneyline, while European bookmakers list odds mainly in decimal format.
- Moneyline Odds: Monelyline or American Odds represent the amount of money you should risk to win $100. For instance, a +150 odds means the team/player is the underdog(less likely to win). If you bet $100 on them and they win, you will win $150 plus your initial wager.
- Fractional Odds: Odds are represented as fractions with the numerator representing the amount you would win for every unit you bet, and the denominator representing the amount you need to bet.
- Decimal Odds: Odds are listed as a single decimal number which represents the amount of your profit per every unit you bet, including your original stake.
12. Call a Spade a Spade
The expression comes from somewhere other than where you think it does! “Call a spade a spade” has nothing to do with the Spades cards. Instead, its roots go back to ancient Greece, where it was first found in Plutarch’s Apophthegmata Laconic: “…to call a fig a fig and a trough a trough.” Years later, the expression was translated and interpreted into Latin by a Deutch scholar who was the first to use “…to call a spade a spade.” Spade, in this expression, refers to a gardening implement.
On the other hand, in the US, Spade was used in the 1920s to humiliate African-Americans. For this reason, although the expression’s roots go back to late antiquity, in the US, it has racist connotations. Hence, although the phrase means to speak frankly and the unvarnished truth, you better be careful when you use it in the United States!
13. Play The Percentages
This phrase comes from statistics! In fact, it encourages you to wager according to facts and not follow your heart. Outside the gambling world, “play the percentage” suggests making a decision or taking an action that has the highest possibility of success. For example, I think you must play the percentages instead of randomly betting on horses.
14. Play the Ponies
This is what you think it is!! When you cannot help yourself from playing the ponies, you cannot stop betting on horses and horse racing!
15. Busted Flush
Although the phrase sounds so pokerish, it can be used in the case of sports betting and even our everyday living. As you might have guessed right, a busted flush refers to a winning hand, flush, which is busted rather than winning! Hence, the phrase is used to describe a failure, someone or something that seemed very promising at first but turned into a disappointment!
16. Parlay/ Accumulator
Parlays are one of the most popular yet risky sports betting tickets. These tickets are specific type of Accumulator bets that combine more than two wagers on in a single ticket with a single huge payout depending on the odds of each wager. Each wager is called a “Leg” and all the legs must hit(win) for the parlay ticket to payout.
Accumulator bets come in various forms, including but not limited to patent bet, trixie bet, round robin, and lucky bets.
17. ATS: Against The Spread
It is a betting term used to describe a wager placed where a team not only needs to win, but also cover the point spread(i.e. the amount of points by which a team/player) must win or lose for the bet to be considered won or lost. for your bet to be successful. It is a way of evening out the perceived imbalance between two teams and giving you the opportunity to back either side at even money.
18. Buck
A Buck is a slang term used to refer to a bet of $100. Buck is derived from the phrase “buck up,” which means to increase in strength or courage. This phrase has been in use since the late 19th century and was commonly used by gamblers who placed wagers at racetracks and other betting establishments.
19. Consensus
The word refers to the collective opinion of sports bettors. Consensus betting lines can be very useful when researching on potential opportunities, as they provide insight into what most people think will happen in a given game or match. If you see that the consensus line is moving decisively in one direction or another, it may be wise to consider taking action on that line.
20. Cover
Cover is a sports betting term used to describe the number of points or goals that an oddsmaker believes one team needs in order for them to win a bet. Covering the spread means that the team must win by at least the number of points indicated by the oddsmaker. For example, if the spread is 4 points and one team wins by 5, they have covered the spread. Cover is an integral part of sports betting and can make or break a bettor’s chances of winning.
21. Dime
Dime is a term used to describe the amount wagered in sports betting. Dime refers to a bet of $1,000. This is typically done when making a large bet and is expressed as “betting a dime” or “putting down a dime”.
22. Handicapping
Handicapping is the practice of predicting an outcome in a sporting event, typically by analyzing various statistical data. Handicappers will use this data to try and come up with a ‘handicap’ or advantage over the rest of the field. Handicapping can be used to gain an advantage in sports betting and can help increase your chances of winning. This advanced sports betting strategy involves looking at factors such as the form of a team or individual players, the opponents, weather conditions, and other relevant variables.
23. Hedging A Bet
Hedging is an advanced betting strategy used to reduce your risk on a wager. Hedging involves placing an additional wager on the opposite side of the original bet, in order to limit any potential losses. Hedging can be done before or after a bet has been placed; however it’s important to remember that not every sportsbook allows hedging. Hedging can also be used in combination with other strategies, such as parlays and teasers, to reduce risk while trying to increase winnings.
24. Juice, Vig or Vigorish
Juice or Vig refer to the commission or fee that bookmakers charge for placing a bet. This fee, also known as vigorish or “the take,” is commonly around 10%, although this rate can vary depending on the sportsbook.
25. Proposition Bet
Proposition bets, or prop bets, are wagers placed on certain outcomes that are not directly related to the final outcome of a game. Proposition bets can encompass individual player performances, such as the number of touchdowns passes thrown in a single game by a quarterback, or the total number of yards gained in a soccer match.
26. Steam
Steam is a term used to describe when there is a sudden, rapid change in the betting odds of a market that’s usually caused by too much money being wagered on one side. Steam also generally indicates sharp action, which means it is likely coming from professional bettors with inside information or knowledge.
27. Totals or O-U
Sports bettors use over/under betting to wager on whether or not an event will go over or under the point spread set by sportsbooks. If a bettor believes that the game will end with more points than the set point spread, they would place an over bet. Conversely, if they believe it will be fewer points, they would wager an under bet. This betting market is best known as Total in the US.
28. Cap
Cap is a sports betting term to describe the betting limit imposed by a sportsbook or betting exchange. Sportsbooks set caps according to the following factors:
- Bettor’s account balance
- Bettor’s betting history
- Type of bet
- Sport or league
29. Bismark
Bismarck, a term used less frequently in sports betting, indicates that the bookmaker anticipates the favorite to lose. In such instances, you may find increased betting limits and attractive promotions designed to encourage wagering on the favorite.
30. Degen
Degens are one of the biggest and funniest gamblers communities! Being a Degen means you are either new to gambling or a quite irrational and reckless gambler. Degen bettors often make large, impulsive bets on longshots or underdogs, often without conducting thorough research or analysis.
Final Thoughts
I have listed the top fourteen commonly used sports betting idioms, phrases, slang, and jargon. Gambling and sports betting phrases are not limited to those you read in this article. As a newbie, there is more to get familiar with. However, if you learn what you read in this post, you are halfway there!
