NHL Betting – Glossary Of Terms


Every industry has its own jargon and NHL betting is not an exception. Some sports jargons that bettors usually find here are meaningless when used outside of the context, so beginners are bound to get confused. Know the ins and outs of NHL betting from A to Z through BetNHL’s glossary of terms.

NUMERICAL

5 fold – An accumulator in 6 different event selections where you have to win 5 out of 6.

50:50 – Even odds or chance for the favored team and the underdog.

A

ATS (“against the [point] spread”) – If one team has a higher record or score against the point spread.

Accumulator – A combination of four or more selections in a single wager, also known in some glossary of terms as Parlays.

All-in – Betting all your funds in a no-limit selection.

American odds – One of the most commonly used odds and also known as moneyline; the odds are expressed in a positive or negative number.

Anchor – The dominant bet among a series of selection.

Ante post – Long-term or advanced bets for future events.

Arbitrage – Taking advantage of different odds and betting on multiple outcomes.

B

Back – Betting than an event is going to happen. Opposite of “Lay”.

Beard – A person betting on someone’s behalf to hide the real bettor’s identity.

Best of it – When a bettor has an edge against other competitors.

Bet back – A type of hedging used to reduce risk when bets are placed on only one outcome.

Bet the field – Betting on any type of outcome, except on the favored team.

Betting exchange – Platforms that serve as middlemen to allow bettors to “Back” or “Lay”.

Bookie – Another term for bookmakers or sportsbook.

Buy points – Betting on non-competitive odds to have an edge.

C

Chalk – Another term for the favorite team in American glossary of terms.

Circled Game – Occurs when the maximum bet is lower than the usual number of bets. This happens due to weather conditions, player’s injury, and the like.

Closing price/closing line – The odds in a market selection before the event starts.

Correct score – Betting on the final score of the game.

Cover – The team winning or losing by a certain margin given by the sportsbook.

Dead heat – When tie or a draw is not an option, bookmakers resort to Dead Heat.

Decimal odds – A widely used type of odd that shows the amount the bettor can win every unit staked.

Double – 2 bets in a single stake.

Double result – Placing a bet on either halftime/fulltime result of the event.

Drift – The change in odds as the game progresses.

Dutch book – Another term for Arbitrage betting.

E

Edge – Betting advantage against other competitors brought about by superior knowledge in a particular sport.

Even money – When your bet is equal to the profit you make if you win or the loss you make if you lose.

Exotic bet – Any other type of bet except Moneyline.

Exposure – The maximum amount a bettor or sportsbook can lose.

F

Field – The number of bets bettors can place in one market.

Fixed Odds – When betting odds are fixed and unchanging all throughout the game.

Fractional odds – A type of odds expressed in numerators and denominators, showing the possible win and stake.

Futures – Available betting markets before the game begins.

G

Get on – Another phrase for “place your bet”.

Goliath – A set of wagers with 8 selections in different events and over 247 bets.

Good oil – Updates or information about the event before it begins.

Good thing – Another phrase for “sure winner”.

H

Halftime/fulltime – Placing a bet on either halftime and fulltime.

Halftime result – Backing the team who’s going to win the game at halftime.

Handicap – A wagering system or type of bet where the sportsbook provides one condition, virtual deficit, or a handicap to be followed at the start of an event or bet.

Hedging – Betting against your initial bet place to ensure win no matter the outcome.

Hook – The 0.5 margin or half a point added to points spread or total lines to make sure that there would be no draw.

I

Index Betting – Placing a bet where the amount wagered is multiplied by the number of points won or lost.

J

Juice – The edge or profit margin of a sportsbook.

L

Layer – Opposite of “Backer. Someone who bets that an outcome is not going to happen.

Lay off – Reducing the risk or liability of result after “backing”.

Listed pitcher – When both the pitchers are required to start the game before the bets become valid.

M

Margin – A measurement on how likely the team is going to win the game.

Market – A betting selection available for betting.

Money Line – Shows the amount of bet required to earn a $100 profit (depending on the currency and sportsbook used).

O

Odds against – odds that are greater than the even money or when a stake is less than the possible amount you can win

Odds on – Opposite of odds against. When odds are less than even money or when a stake is greater the amount a bettor can win

Oddsmaker – A person, company, or group of people predicting the odds for the underdog and the favored team

Over/Under – A type of wager where you can bet on whether the result of an event can go higher or lower than the score given by the bookmaker

P

Parlay – Placing multiple bets on different events or markets.

Plunge – A large volume of bets placed on a single market.

Point Spread – Means leveling the playing field for the underdog and the favored team. A handicap or margin given to both team.

Price – Another term for odds.

Push – The refunded bets due to tie, draws, postponed events, and other circumstances.

R

Roughie – When a team has a lower chance of winning the game, another term for the underdog.

Round robin – A selection where all the series of multiple bets are present.

Rundown – Updates of all odds, lines, point spreads and scores before and after the game.

S

Scalper – A term used to describe bettors participating in Arbitrage betting.

Settling – When the bookmakers pay the winning customers.

Sharp – A term used for a novice or knowledgeable sports bettor.

Shorten – Decreasing the odds because a lot of bets have been placed on a single selection.

Single – Oone, single bet for a specific market.

Stake – A wager placed by the bettor.

Starting price – The initial odds show shown on a bet selection before the start of the event.

Straight bet – A straightforward bet placed on which team will win the match.

Stop loss – Decreasing the amount a bettor could lose in index betting or trading.

T

Teaser – A type of bet used by American bookmakers. It is a combination of 2 or more wagers in a single selection where the point spread is adjustable.

Toss up – A betting market with no favorite or underdog, an equal playing field for all selections.

Totals – Also known as total goals or runs. A type of wager where a bettor places a bet on whether the game will go over or under the predetermined score.

Treble – 3 bets in a single wager.

Turnover – The total amount of bets placed on one bookmaker.

U

Unbackable – A betting market with a sure winner.

Underdog – The team that the majority expects to lose, opposite of the favorite.

V

Value – The betting value of a selection representing the probability.

Vig/Vigorish – The bookmaker’s commission for each market.

W

Worst of it – When a bettor has a disadvantage.