Sports Betting Glossary
From A to Z
P
Parlay
Another term for an accumulator; a bet that contains multiple selections. Every selection must come in so the bet can win.
Parlay banker
The selection in a parlay or accumulator with the highest chance of winning to which other selections are added. Usually, this selection will be an odds-on favorite, and more speculative games are added to increase the odds.
Payout
The amount a bettor will receive from a winning wager. At most sportsbooks, the original wager is included in the payout.
Pick’em
A bet with the same odds on both sides. For example, Salt Lake City (-115) vs. Reno (-115) would be considered a pick’em wager.
Point Spread
Similar to a handicap, these are odds that are designed to level the playing field between teams with varying skill levels. An underdog will be given a head start with a positive point spread, and the favorite will start with a deficit using a negative point spread. If you bet on the underdog, your bet will win if they lose within their point spread. For example, if you bet on Chicago with a point spread of +8.5, but they lose the game 25-20, your bet will still win.
Power rankings
A ranking system that takes in a variety of criteria to grade teams within a league from best to worst.
Proposition bet
Often called a prop bet, a proposition bet is another term for an exotic bet or novelty bet; these are bets that go beyond a standard game total, point spread, or moneyline bet, such as a bet on who will win the coin toss.
Proxy
A group or individual that makes bets on behalf of another person. The term is often used for people who make bets on behalf of people who don’t have access to a certain sportsbook, such as Las Vegas residents making bets for non-residents.
Public money
The amount of money that the majority of people are betting on a certain side of a bet. For example, if 70% of bets made in the Nashville vs. Atlanta game are on Nashville, then you would say that the public money is on Nashville.
