NHL Betting Glossary
Complete guide to 112+ betting terms and definitions. From basics to advanced strategies.
Betting Basics
52 terms
Action
Having a wager on a game. If you have 'action' on a game, you have money bet on it.
Bankroll
The total amount of money a bettor has set aside for sports betting. Proper bankroll management is crucial for long-term success.
Bettor
A person who places wagers on sporting events. Also called a 'punter' in some regions.
Book
Short for sportsbook. The establishment or service that accepts bets on sporting events.
Bookie
A person (often illegal) who accepts bets on sporting events. In modern context, refers to legal sportsbooks.
Chalk
The favorite in a game or matchup. Betting on the 'chalk' means betting on the favorite.
Dog
Short for underdog. The team expected to lose the game.
Edge
An advantage a bettor has over the sportsbook. Finding 'edges' is key to profitable betting.
Even Money
Odds of 1:1, typically displayed as +100 or -110. A $100 bet wins approximately $100.
Favorite
The team expected to win the game. Indicated by negative (-) odds.
Handicapper
A person who analyzes games and provides betting recommendations or predictions.
Handle
The total amount of money wagered on a game or event by a sportsbook.
Hedging
Placing a bet on the opposite side of an original wager to guarantee profit or minimize losses.
Hook
A half-point in the point spread or total. A line of -3.5 has a 'hook' at the half.
Juice
The commission the sportsbook takes on a bet. Also called 'vigorish' or 'vig'. Typically -110 means you need to bet $110 to win $100.
Laying Points
Betting on the favorite and giving up points in the spread.
Limit
The maximum amount a sportsbook will allow you to bet on a particular game or market.
Line
The current odds or point spread offered by a sportsbook on a game.
Longshot
A bet with very low probability of winning but high potential payout. A heavy underdog.
Middle
When a bettor wins both sides of a game by betting on different lines. For example, betting +3.5 and -2.5, and the favorite wins by 3.
Nickel
Slang for $500. A 'nickel bet' is a $500 wager.
Odds
The probability of an outcome expressed as a ratio of payoff. Determines how much you can win on a bet.
Oddsmaker
The person or team at a sportsbook responsible for setting the initial betting lines.
Off the Board
When a sportsbook removes a game from betting due to uncertainty (injury, weather, etc.).
Overlay
When the odds are favorable to the bettor. The opposite of an underlay.
Pick 'Em
A game where neither team is favored. Both teams have equal odds, typically -110 for each side.
Public
Casual bettors who typically bet on favorites and popular teams. Also called 'squares'.
Push
When a bet lands exactly on the line, resulting in a tie. Your original stake is returned.
Sharp
A professional or highly skilled bettor. Sharps move lines with their large, well-informed wagers.
Square
A casual or recreational bettor. The opposite of a sharp.
Steam
Rapid line movement caused by heavy betting action, often from sharp bettors.
Ticket
A bet. 'Writing a ticket' means placing a wager.
Underdog
The team expected to lose. Indicated by positive (+) odds.
Unit
A standard betting amount, typically 1-5% of your bankroll. Used to track performance objectively.
Vig
Short for vigorish. The commission charged by the sportsbook. Same as juice.
Wager
A bet. The amount of money risked on a sporting event.
Bad Beat
An unlucky loss where you were in a winning position but lost in an unlikely or frustrating way.
Beard
A person who places bets on behalf of another to hide the true bettor's identity.
Bonus
Promotional offers from sportsbooks, such as deposit matches or free bets.
Circled Game
A game with reduced betting limits due to uncertain factors like injuries or weather.
Dime
Slang for $1,000. A 'dime bet' is a $1,000 wager.
Dollar
Slang for $100. Also called a 'buck'.
Dead Heat
A tie in a futures or prop bet where multiple selections finish equal. Payout is divided.
Lock
A bet that seems like a sure winner. Be cautious - there are no true 'locks' in sports betting.
Odds Boost
Enhanced odds offered by sportsbooks as a promotion, providing better value than standard lines.
Past Performance
Historical results of teams or players. Used for handicapping but not always predictive.
ROI
Return on Investment. A percentage showing profitability: (Profit / Total Wagered) × 100.
Runline
Baseball's version of the point spread, typically 1.5 runs. Similar concept to puck line.
Smart Money
Bets placed by sharp, professional bettors. Often moves lines.
Tout
A person who sells betting picks or advice. Quality varies widely.
Welch
To fail to pay a gambling debt. Considered highly unethical.
Wiseguy
Another term for a sharp bettor. Someone who consistently beats the books.
Bet Types
23 terms
Moneyline
A straight-up bet on which team will win the game. No point spread involved. The favorite has negative odds, the underdog positive.
Puck Line
NHL's version of the point spread. Almost always set at 1.5 goals. The favorite must win by 2+ goals, the underdog must win outright or lose by 1.
Point Spread
A handicap given to the underdog and taken from the favorite to level the playing field. The favorite must win by more than the spread.
Totals
Also called Over/Under. A bet on whether the combined score of both teams will be over or under a set number.
Over
A bet that the total combined score will be higher than the sportsbook's line.
Under
A bet that the total combined score will be lower than the sportsbook's line.
Parlay
A single bet that links two or more individual wagers. All selections must win for the parlay to pay out, but offers higher returns.
Prop Bet
Short for proposition bet. A wager on a specific occurrence within a game (player stats, first goal, etc.) rather than the final outcome.
Futures
A bet on an event that will be decided in the future, like Stanley Cup winner, MVP, or division champions.
Live Betting
Placing wagers on a game while it's in progress. Also called in-game or in-play betting. Lines change in real-time.
Round Robin
A series of parlays created from a larger list of teams. Covers multiple parlay combinations automatically.
If Bet
A conditional wager where the second bet only processes if the first bet wins.
Reverse
Similar to an if-bet but works in both directions. Two if-bets combined.
Each Way
A bet split into two parts: one on the selection to win, one on it to place (finish in top positions).
Exotic Bet
Any bet other than a straight bet, including parlays, teasers, and props.
First Half Bet
A wager on the outcome of just the first half/period of a game.
Halftime Bet
A bet placed during halftime/intermission on the second half outcome.
In-Play
Another term for live betting. Wagering while the game is in progress.
Parlay Card
A pre-printed form listing multiple games for parlay betting.
Pleaser
Opposite of a teaser. You move the line against yourself for higher odds. Very risky.
Same Game Parlay
A parlay combining multiple bets from the same game. Offered by most major sportsbooks.
Odds & Lines
11 terms
American Odds
Odds displayed with a + or - sign. +150 means you win $150 on a $100 bet. -150 means you bet $150 to win $100.
Decimal Odds
Odds displayed as a decimal (e.g., 2.50). Your total payout is your stake multiplied by the decimal.
Fractional Odds
Odds displayed as fractions (e.g., 3/1). Common in UK betting. 3/1 means you win $3 for every $1 bet.
Implied Probability
The likelihood of an outcome based on the betting odds. Calculated from the odds to show the bookmaker's view of probability.
Line Movement
When the odds or point spread changes from the opening line to game time, usually due to betting action or news.
Opening Line
The first odds posted by a sportsbook for a game. Often set days before the game.
Closing Line
The final odds before a game starts. Often considered the most accurate line due to all available information being priced in.
Closing Line Value (CLV)
Getting better odds than the closing line. A key metric for sharp bettors that indicates long-term profitability.
Line Shopping
Comparing odds across multiple sportsbooks to find the best price for your bet.
Reverse Line Movement
When the line moves opposite to public betting percentages, indicating sharp money on the other side.
Consensus
The average betting line across all major sportsbooks.
Betting Strategy
13 terms
Arbitrage
Betting both sides of a game at different sportsbooks to guarantee a profit regardless of outcome. Requires line discrepancies.
Betting Against the Public
Strategy of wagering on the side that fewer people are betting on, based on the theory that the public is usually wrong.
Fade
To bet against a team, person, or system. 'Fading the public' means betting opposite of public sentiment.
Kelly Criterion
A mathematical formula used to determine optimal bet sizing based on edge and bankroll.
Flat Betting
Betting the same amount on every wager, regardless of confidence level. A conservative bankroll management strategy.
Martingale System
A betting system where you double your bet after every loss. Risky and not recommended for sports betting.
Value Betting
Finding bets where you believe the true probability of an outcome is higher than what the odds suggest.
Buying Points
Paying extra juice to move the point spread or total in your favor.
Middling
Betting both sides of a game at different numbers hoping to win both if the final score falls in between.
Steam Chasing
Following sharp money by betting immediately after seeing significant line movement.
Contrarian Betting
Going against popular opinion and public betting trends. Similar to fading the public.
Regression to the Mean
The theory that extreme performances will eventually return to average. Important for identifying betting value.
Hedge
Placing a bet on the opposite side of an original wager to lock in profit or reduce risk.
NHL-Specific Terms
13 terms
60-Minute Line
A bet on the outcome after regulation time only. Overtime and shootouts don't count. Also called 'regulation time' bet.
Three-Way Moneyline
A bet on Team A to win, Team B to win, or a tie after regulation. Higher odds than regular moneyline.
Period Betting
Wagering on individual periods of an NHL game rather than the full game result.
Grand Salami
A total bet on the combined goals scored in all NHL games on a given day. NHL-specific prop bet.
Alternate Puck Line
A puck line other than the standard 1.5. Can be -2.5, -1.5, +0.5, etc., with adjusted odds.
Empty Net Goal
A goal scored when the opposing team has pulled their goalie. Can affect puck line and total bets significantly.
Goalie Prop
Proposition bets on goaltender performance, such as saves made or goals allowed.
Hat Trick
When a player scores three goals in one game. Can be a prop betting market.
Home Ice Advantage
The statistical advantage teams have when playing at home. Important factor in NHL betting.
Back-to-Back
When a team plays games on consecutive nights. Typically disadvantageous, especially for the road team.
Rest Advantage
When one team has more days of rest before a game than their opponent. Can affect performance and betting value.
Regulation Time
The standard 60 minutes of play (three 20-minute periods). Excludes overtime and shootout.
Shootout
A tiebreaker after overtime where players take penalty shots. Affects moneyline bets but not 60-minute line bets.