Getting into sports betting can feel like learning a new language, especially with so many unique terms and slang tossed around. Whether you’re betting on hockey, football, or anything in between, understanding the key terms is essential to making smarter bets.

This sports betting glossary is tailored for Canadian bettors, covering everything from “puckline” to “parlay.” By the end, you’ll have the lingo down to place bets with confidence. Let’s break it all down.

Sports Betting Glossary

Action Any bet you’ve placed. If you have action on a game, it means your bet is live and hasn’t been canceled.

ATS (Against the Spread) Betting against the spread rather than on the outright winner. A team covers “ATS” if they beat the point spread.

Bankroll Your dedicated betting cash. Bankroll management is all about protecting this balance to keep you in the game long-term.

Bad Beat A crushing loss where a sure win flips unexpectedly, often at the last second. It’s part of the game for any bettor.

Book (or Bookmaker) The sportsbook or betting site where you place bets. They set the odds, accept wagers, and pay out winnings.

Chalk Betting on the favourite, typically with lower odds and payouts. Going with the chalk means betting on the expected winner.

Closing Line The final odds or spread right before the game starts. This reflects last-minute bets and adjustments by the sportsbook.

Cover If a team wins by more than the spread or loses by less, they “cover.” It’s all about beating the spread.

Dime A $1,000 bet. Dime bettors are often the high-stakes players.

Dog (Underdog) The team expected to lose. Betting on the underdog is riskier but comes with a higher payout.

Double Chance Allows you to bet on two out of three possible outcomes (win and draw) in games like hockey or soccer. It lowers risk but also reduces payout.

Even Money A bet with equal odds, where your payout matches your wager. Represented by +100 odds.

Fade Betting against a specific team or popular opinion. “Fading the public” is betting opposite of where most casual bettors are placing their money.

Fixed Odds Odds that stay constant after you place your bet. This is the typical format in most betting.

Futures A long-term bet on an outcome decided in the future, like a championship winner. Futures are a great way to capitalize on early odds.

Grand Salami A bet on the total number of goals scored in all games in a single day of hockey. You’re betting if the combined goal total is over or under the set line.

Handle The total money wagered on a particular event or across multiple events.

Hedge Placing a secondary bet against your initial wager to reduce risk and lock in profit.

In-Play (Live Betting) Betting while the game is ongoing, with odds updating in real time.

Juice (or Vig) The book’s cut on each bet. For example, with standard -110 odds, you’d need to bet $110 to win $100.

Limit The maximum bet amount a sportsbook allows on a specific outcome.

Line Movement Shifts in the odds or spread due to betting activity. Line movement can signal where sharp or public money is flowing.

Moneyline A bet on who wins the game outright, with no point spread involved.

Odds The payout ratio for your bet. Negative odds (-200) indicate how much you need to bet to win $100, while positive odds (+200) show what you’ll win on a $100 bet.

Opening Line The initial odds or point spread set when a market opens. Opening lines often adjust quickly based on early action.

Over/Under (Total) A bet on whether the combined score will go over or under the total set by the sportsbook.

Parlay A wager combining multiple bets into one, where all legs must win for a payout. Parlays have higher payouts but are harder to win.

Pick’em (PK) A game with no point spread, making it an even-money bet on who wins.

Point Spread A handicap set by the sportsbook to balance the teams. Favourites get a negative spread (e.g., -3.5), and underdogs get a positive spread (e.g., +3.5).

Prop Bet A bet on a specific player or team event that doesn’t affect the game’s final outcome, like the first goal scorer or a player’s total points.

Push A tie where the bet lands exactly on the point spread or total. You get your stake back in a push.

Puckline Hockey’s version of the spread, usually set at -1.5 for favourites and +1.5 for underdogs. A favourite must win by 2 or more to cover, while the underdog can lose by 1 and still cover.

Runline Baseball’s equivalent to the puckline, where the spread is usually -1.5. Favourites need to win by 2+ runs.

Same Game Parlay A parlay where you can combine multiple bets from the same game, like a team to win, total points, and a player prop. Risky, but with a high reward if you hit all legs.

Teaser Similar to a parlay but with adjusted spreads or totals in the bettor’s favour. Teasers lower payouts in exchange for a better shot at winning.

Three-Way Betting A common format in hockey and soccer, this bet has three outcomes: Team A win, Team B win, or a draw. Only counts for regulation time.

Totals Bet Another term for Over/Under. It’s a bet on whether the final score will exceed or fall short of a set number.

Wager Simply another term for a bet. “Wagering” is the act of placing your bets on games and events.

You can dig into many of these terms, with longer explanation and plenty of examples, in our complete sports betting guide.