We take a look at all the terms that you might need to understand when betting on sports.
Sports Betting Terms
Main Betting Terms To Know
Learning how the American odds format (minus and plus odds) works is crucial to betting. Those unfamiliar with the odds may find it baffling, but you can quickly get used to them. Other terms such as betting units, underdogs, push, bet settlements and handicapping are often things you will hear thrown about in betting circles.
We explain these betting terms and show you how they apply to your betting, even exploring strategies associated with particular betting terms.
Advanced Betting Terms
Learning more advanced betting terms is highly useful if you want to read sports betting blogs, understand the language used in sports betting media and hone your betting vocabulary.
It can also change the way you look at your bets and help you get the best bang for your buck. Just off the top of my head, if you learn about how closing line value works, the importance of juice or when its good to place fade bets, you will know the following:
- (Closing line value) What trends can affect the odds and when the odds are longest, to get the best value for your money
- (Juice) Which sportsbooks offer the most favorable odds on your bet (and where to look to find the best prices)
- (Fade) When to go against popular opinion and pick an underdog, especially when the odds on the underdogs are inflated
Professional bettors are not only experts at their respective sports, but they also know how to make the most of their budget and hunt for longer odds where they can.
Know the Types of Bets on Offer
When you enter an online sportsbook and open up the betting markets for NFL, NBA, MLS, MLB, NHL, or any other top US sport, you will find an abundance of betting markets. You may be familiar with some, such as moneylines, point spreads and totals bets. However, there are tons of bets to explore, and if you have never tried out the different betting markets, it may feel a bit daunting placing money on new wagers.
We are here to help you explore new betting markets, through our bet and strategy guides. If you have a bigger net to cast when picking your bets, then there is more to take advantage of. For example, instead of settling for a moneyline or spread that you are unsure about, you can instead pick an alternative spread or even bet on the first quarter or half of the game.
The possibilities are endless, and in our guides we also point out some useful data that you can research and show you some winning strategies for each type of bet.
How to Start Betting on Sports
These betting terms and the types of bets are a good foundation for any bettor. The insight can be used at any sportsbook, and after signing up you can start exploring the betting markets and planning your wagers.
However, the selections can vary greatly between sportsbooks. There are lots of factors that will play into your decision when picking an online sportsbook to bet at.
State Availability
Sadly, not all states allow online sports betting, and in those that do, the choice may be limited. There are states such as New Jersey, New York, Pennsylvania, Michigan and Massachusetts in which you have a plethora of betting sites to pick from. On the other end of the spectrum, bettors in New Hampshire, Rhode Island or Maine will have only one legally recognized sportsbook to pick from. Some states only allow retail sports betting, in which case you can only place bets if you travel to your local sportsbook (usually located within a regulated casino). For more information on states and legality, head on to our states page, where we show you all the options within your state.
Legal States for Sports Betting
Legality
This segues nicely into our next topic of concern: legality. We only review legal betting sites that are regulated in the US. You can also find betting sites online that do not operate legally in the US, but instead may be licensed through the Government of Curacao or other international gambling regulators. We strongly recommend you avoid these sites, as they are operating illegally in the US.
There are lots of reasons why you should not join illegal betting sites, but the main reason is that they are not actually obliged to pay out your winnings. If you want to file a complaint or appeal to a higher power, the betting site can simply say that you joined from an “excluded territory” and therefore it is under no obligation to pay out any winnings. It is better to just avoid the headache.
Which Sportsbook Suits Your Betting Style
Providing that you are betting in a state where there are numerous online sportsbooks to pick from (legal of course), you will want to find the one with the best offering to cater to your needs. There is no be all end all sportsbook that does it all, as each betting site has a slightly different offering. For example, if you are an NFL fan, then we can guide you towards the following sportsbooks (and their key features):
- Caesars – Has live HD NFL streams, along with Watch & Bet feature
- BetMGM – Huge NFL bonuses and contests
- DraftKings – Unrivalled NFL game and player props bets
- FanDuel – Competitive betting lines
All four are good, and you can find hundreds of betting markets, advanced betting options and great prices. However, there are small differences in each of the offerings. We can’t pick which is best for you, but we can highlight the key features of each sportsbook and show you how to get started, picking up your awesome welcome offer through our links and bonus codes.
Pick From the Best US Legal Sportsbooks
Time to take your newfound betting terms and knowledge to the best sportsbooks in the USA. We only review sports betting sites that operate legally in the US, and always keep an eye out for new betting sites. Here are our most highly recommended online sportsbooks, and what each has to offer.
#1. DraftKings
DraftKings has firmly established itself as one of the best sportsbooks in the US. It has fantastic sports coverage, providing bets on all the major US sports as well as a few niche ones too, such as jai alai, cricket, eSports and more.
The sportsbook has a unique approach to sports betting, offering a wide range of player bets and game props, all to fuel your excitement. When you have picked a sports game, you can toggle the view to browse SGP bets, making it easier to form your same game parlays.
Hundreds of thousands of Americans have downloaded the DraftKings betting app and can access all the thrilling betting markets and bonuses it has on offer. You can also take part in free picking games, survivor pools and other player contests with big giveaways. To top it off, DraftKings has a generous welcome offer for newcomers, and loads of boosts, bonus bets and other perks once you have used up your sign on bonus.
1
Up To $1,000 Deposit Bonus
- Accepts deposits as low as $5
- Hefty welcome and referral bonuses
- Available in 22 US States
#2. BetMGM
BetMGM is available in over 20 states across the US, and has a definitive range of sports bets. This platform caters to all sports fans, with hundreds of betting markets on football, soccer, baseball, basketball, hockey and loads more. It has a streamlined app that makes it easy for bettors to place their bets on the go and make quickfire live bets.
On the subject of live betting, BetMGM has a great Easy Parlay tool, with which you can quickly pick out moneylines, totals and spreads, which works for both pregame and live wagers. Bettors can form big parlays, adjust their teasers with the slider, or place complex round robin bets.
BetMGM has a great variety of bonuses, including offers relating to specific leagues such as NFL, NBA and NHL, and those promotions that can be used for any sports bets. Make sure you check out the insurance betting bonuses, odds boost and profit boost tokens.
Promocode:
GAMBLEUSA
2
Up To $1,500 First Bet Offer
- Superb range of sports
- Enticing rewards program
- Extensive catalogs of betting markets
#3. FanDuel
FanDuel welcomes bettors of all levels to a marvelous selection of betting markets. It offers a diverse range of betting markets, with lengthy odds and great betting lines. You can really make the most of your budget at FanDuel, and its really easy to make parlays, teasers and round robin bets.
On the subject of parlays, FanDuel users can check out the Parlay Hub, where the site presents all its most popular parlay bets. There are lots of social features at FanDuel, including big giveaways, contests and refer a friend bonuses.
FanDuel knows how to keep its users happy, providing exceptional bonuses and promotional offers. Keep your eyes peeled for NBA and NFL Gameweek boosts, regular odds boosts, insurance bet offers and the free games.
3
Bet $5, Get $150 In Bonus Bets
- Massive Choice of Sports
- Daily Odds Boosts
- Convenient Banking
#4. Caesars
Caesars is one of the most recognizable brands, be it through the Caesars land based casino resorts, Caesars online casino or the Caesars sportsbook. Caesars was already a top notch sportsbook before it acquired William Hill in 2021, and since then it has risen to new heights.
The betting site covers virtually every sport you can think of, providing you with top quality betting markets. Caesars has an abundance of game props, player bets, futures and other specials on offer. Don’t forget to check out the boosts section regularly, as there are loads of new boosted odds bets every day. You can also pick out thrilling combo bets with lengthened odds.
One of the biggest perks of being a member of Caesars is the epic Reward Program. You can accrue comp points and climb up the loyalty club tiers, snatching bigger bonuses and take part in exclusive tournaments. From birthday gifts to complimentary trips to Las Vegas, you always have something to look forward to at Caesars.
Promocode:
GUSA1000
4
$1,000 First Bet on Caesars
- Great Mobile App
- Brilliant Welcome Bonus
- Range Of Bet Types
#5. BetRivers
BetRivers is a fantastic destination for online sports bettors. The sheer volume of bets on offer is staggering. You can bet on any sporting event or competition from the NFL to top eSports leagues and more. If you want a little inspiration or to bet on something different, then head on to BetRivers Sportsbook’s Prop Central. There, you can find all sorts of epic player bets and game props for all the major US sports. From soccer goal scorer bets to NBA three pointers, there are thrilling props for all sports fans.
BetRivers does not stop there either. There is a Specials category where you can find anything from player futures to alternative props for games. These can apply to all the major US sports, and to some of the niche sports too. Instead of just picking out standard moneylines, totals and spreads, BetRivers delivers more options for fans of niche sports.
BetRivers may not be available in as many states as say DraftKings or BetMGM, but it has massive fanbases in the states it operates in. The BetRivers app includes both the sportsbook and the casino, making it easier for those bettors who also like to play casino games to switch over.
5
Up To $500 2nd Chance Bet
- Awesome live betting
- Multiple bet types
- Huge range of sports & markets
