If you're just starting out with sports betting, you might feel overwhelmed by all the unfamiliar terms and phrases. But don't fret, you're not the only one.

This article will go over the essential vocabulary every bettor should be familiar with. By the end, you'll have the knowledge and confidence to navigate the exciting world of sports betting.

Understanding the Basics
Before diving into the different types of bets and commonly used phrases, it's important to understand the basics of sports betting. At its core, sports betting involves placing a wager on the outcome of a sporting event. The goal is to predict the correct outcome and win money based on the odds set by the bookmaker.

Bookmaker: A bookmaker, also known as a sportsbook, is a company or individual that accepts and pays out bets on sporting events.

Wager: This refers to the amount of money you are betting on a particular outcome or event.

Odds: Odds represent the likelihood of a particular outcome happening. According to Bestodds.com they are typically presented in three formats known as decimal, fractional and moneyline.

Favorite: The team or player that is expected to win the game or event which is why they have lower odds compared to the underdog.

Underdog: The team or player that is expected to lose the game or event so they have higher odds compared to the favorite.

These are just a few basic terms to get you started in understanding sports betting. It's important to familiarize yourself with more advanced terminology and strategies as you delve deeper into the world of sports betting.

Types of Bets
When it comes to sports betting, there are a variety of bets you can place. Check out some of the most common ones:

Moneyline Bet: This is a simple wager on which team or player will win a specific game or match. The odds are displayed as either a positive or negative number, indicating the potential payout.
Point Spread Bet: In a point spread bet, the bookmaker assigns a point spread to level the playing field between the favorite and the underdog. The bettor must decide if the favorite will win by more than the point spread or if the underdog will lose by less than the point spread.
Over/Under Bet: Also known as a totals bet, this involves predicting whether the total combined score of both teams in a game will be over or under a specific number set by the bookmaker.
Parlay Bet: A parlay bet combines multiple individual bets into one. To win a parlay bet, all the individual bets included in the parlay must be correct.
Handicap: Handicap betting is when a sportsbook gives one team or player a virtual advantage or disadvantage to even out the odds. This is commonly used in sports where there is a clear favorite.
Before placing your wagers, it's important to familiarize yourself with these terms and understand the rules and potential risks associated with each type of bet. There are other options like teasers, futures and prop bets, with some sportsbooks even offering live betting. So, explore your options and enjoy the excitement of sports betting responsibly.

Commonly Used Phrases
Knowing the lingo of sports betting is like having a key to unlock a whole new level of excitement and comprehension. For instance, "covering the spread" means a team wins by a margin that exceeds the point spread set by oddsmakers. This phrase is often used to determine if a bet on a particular team is successful or not.

Another phrase is "bad beat," which describes a situation where a bettor loses a wager in an unlucky or unfortunate manner. This can be due to a last-minute score, a missed field goal or any other unexpected turn of events that results in the bettor losing their bet.

These phrases not only add to the thrill of sports betting but also allow bettors to communicate and share their strategies with fellow enthusiasts. Whether you're a seasoned bettor or just starting out, familiarizing yourself with these commonly used sports betting phrases will surely enhance your overall understanding and enjoyment of the game.