Sports betting has its own vocabulary, and a lot of it is American slang, British slang and maths jargon at once. This glossary covers 65 terms you’ll see on Canadian betting pages and sportsbook menus, in plain language, with the maths where it matters. Worked examples use illustrative odds unless a source is named. Jump to a letter:
A · B · C · D · E · F · H · I · J · K · L · M · O · P · R · S · T · U · V
A
Accumulator (acca). The British name for a parlay: several selections combined into one bet, where every leg must win. See parlay.
Against the spread (ATS). A team’s record or a bet measured with the point spread applied, rather than on wins and losses.
American odds. Odds shown as a positive or negative number. +150 means C$150 profit on a C$100 stake; -110 means you stake C$110 to win C$100. Our odds guide covers all three formats.
Asian handicap. A soccer handicap that removes the draw. Whole lines refund the stake on an exact result; quarter lines such as -0.25 split the stake across the two nearest lines. A published study of 84,230 European matches found Asian handicap bets carry lower margins than 1X2. Our soccer guide works through each line.
B
Bankroll. The money set aside only for betting, sized so you could lose all of it. See our bankroll management guide.
Bet builder. A sportsbook tool for building a same-game parlay from several markets in one match.
Bonus bet. Bonus credit for placing bets, often from a welcome offer. Like a free bet, it usually pays winnings without returning the stake.
Book (sportsbook). The operator taking the bet. Outside Ontario and Alberta, the provincial option is PlayNow (B.C., Saskatchewan, Manitoba), Mise-o-jeu (Quebec) or Atlantic Lottery; other books are licensed outside Canada.
Buying points. Paying a worse price to move a spread or total by half a point. Moving from -3 at -110 to -2.5 at -125 raises break-even from 52.38% to 55.56%.
C
Cash out. An offer from the book to settle a bet early for a set amount. A fair offer equals the potential return divided by the current decimal odds; anything below that is extra margin. See our live betting and cash out guide.
Closing line. The final odds before an event starts.
Correct score. A bet on the exact final score, or in esports the exact series score (2-0, 2-1). Many outcomes means a bigger margin.
Cover. To win against the spread. A -6.5 favourite that wins by 7 covers.
D
Decimal odds. The total return per C$1 staked, stake included. C$10 at 2.50 returns C$25. Provincial sites such as Mise-o-jeu display decimal odds.
Double chance. A soccer bet covering two of the three 1X2 outcomes, such as home win or draw.
Draw no bet. A bet on one team where a draw returns the stake. It equals an Asian handicap line of 0. Fair price = win odds x (1 - 1/draw odds).
E
Each-way. Two equal bets: one to win, one to place at a fraction of the win odds (often 1/4 or 1/5). Common in golf and horse racing. C$10 each-way at 21.0 with 1/5 place terms over 3 places returns C$260 if it wins and C$50 if it only places.
Even money. Odds of 2.00, +100 or 1/1: profit equal to the stake.
Expected value (EV). The average result of a bet if it could be repeated many times. At fair prices it’s zero; with a book’s margin it’s negative.
F
Favourite. The side the odds rate most likely to win, shown with the shorter price.
Fractional odds. Profit per unit staked, shown as a fraction. 3/2 means C$3 profit for every C$2 staked; decimal = 1 + 3/2 = 2.50.
Free bet. A stake credited by the book, usually with the stake not returned on a win. A C$10 free bet at 2.00 is worth about C$4.77 on average in a 4.55%-margin market. Our free bets guide runs the maths.
Futures (outrights). Bets on season-long results, such as the Stanley Cup or a league champion. Your stake stays tied up until the season ends.
H
Handicap. A head start or deficit applied to a team. Called the spread in football and basketball, the puck line in hockey, the run line in baseball.
Hedge. A second bet against your first, to lock in part of a result or cut a loss. It pays the margin twice.
Hold. The share of money wagered that books actually kept after results. Nevada’s books held 7.69% across all sports over the twelve months to July 2026, and 8.73% on hockey.
I
Implied probability. The chance the odds suggest: 1 divided by the decimal odds. 1.91 implies 52.4%. The odds converter does it for any format.
In-play. Betting after an event has started, also called live betting. A 2019 scoping review found it “has the potential to be more harmful” than other forms because of its pace.
J
Juice. American slang for the bookmaker’s margin. Same as vig.
K
Key numbers. Margins of victory that come up more often than others because of how a sport is scored, most often discussed in football. They make half-points around them worth more.
L
Leg. One selection inside a parlay.
Line. The number on a spread or total, or the odds on a market in general.
Line movement. A change in odds or a line between opening and the event, driven by money, news or the book’s own view.
Live betting. See in-play.
M
Map handicap. Esports handicap in maps. In a best of three, -1.5 maps means a 2-0 win. See our esports betting guide.
Margin. The bookmaker’s built-in edge: 1 - 1/overround. About 4.55% on a -110 two-way line. Our margin guide shows the full method.
🧮 Margin by market type, worked examples
| Two-way -110 / -110 | 4.55% |
|---|---|
| Soccer 1X2 (1.90 / 4.76 / 3.17) | 4.93% |
| NHL 60-minute three-way | 6.38% |
| Four-runner futures market | 8.36% |
Method of victory. A UFC or boxing bet on who wins and how: knockout, submission or decision. See our UFC betting guide.
Moneyline. A bet on who wins, with no spread. In hockey and baseball the default moneyline usually includes overtime or extra innings.
O
Odds boost. A promotion raising the odds on a selected bet. Check the boosted price against the margin before treating it as value.
Outright. See futures.
Over/under. See totals.
Overround. The sum of the implied probabilities across a market. Anything above 100% is the book’s edge.
P
Parlay. Several bets combined; every leg must win. Odds multiply, and so does the margin: a four-leg parlay of coin flips at -110 hits 6.25% of the time and carries about 16.98% edge. The parlay calculator prices any ticket.
Period bet. A bet on one period of a hockey game. Third-period bets exclude overtime.
Player prop. A bet on one player’s numbers, such as points or shots. Each prop carries its own margin.
Puck line. Hockey’s spread, usually +/-1.5 goals. The shootout winner is usually credited one goal. See the NHL betting guide.
Push. A tie with the line: the stake is returned. Only whole-number lines can push.
R
Regulation time. The scheduled length of a game before overtime. Hockey’s 60-minute lines settle on it, and can land on a draw.
Rollover. How many times a sports bonus must be staked before it can be withdrawn, often at minimum odds. Illustrative: C$100 at 5x is C$500 of bets, about C$22.75 in average cost at a 4.55% margin.
Rouge. The CFL’s single point. From 2026 it no longer scores for a missed field goal that goes wide of the goalposts. See the CFL betting guide.
Run line. Baseball’s spread, usually +/-1.5 runs.
S
Same-game parlay. Several legs from one game. The legs are correlated, so books reprice them; no published margin figure exists.
Settlement. How and when the book decides a bet won, lost, pushed or was void, per its house rules.
Shootout. The NHL’s regular-season tiebreaker after a five-minute overtime. Playoff games have no shootout.
Single. One bet on one outcome, as opposed to a parlay. Single-event betting became possible at provincial sportsbooks on August 27, 2021.
Spread. A handicap that evens out two teams. Whole numbers can push.
Stake. The amount you bet.
Stake not returned. A free-bet rule: a winning free bet pays the profit only.
T
Three-way market. A market with a draw as the third outcome, such as soccer’s 1X2 or hockey’s 60-minute line.
Totals. An over/under bet on the combined score. 44 can push; 44.5 can’t.
Turnover. The total amount staked. The margin applies to turnover, not to your bankroll.
U
Underdog. The side the odds rate less likely to win, shown with the longer price.
Unit. A standard stake, usually 1%-2% of the bankroll.
V
Vig (vigorish). Another word for margin or juice.
Void. A bet cancelled and refunded, for example when an event doesn’t take place under the book’s rules.
Odds formats side by side
| Decimal | American | Fractional | Implied probability |
|---|---|---|---|
| 1.25 | -400 | 1/4 | 80.0% |
| 1.50 | -200 | 1/2 | 66.7% |
| 1.91 | -110 | 10/11 | 52.4% |
| 2.00 | +100 | 1/1 (evens) | 50.0% |
| 2.50 | +150 | 3/2 | 40.0% |
| 3.00 | +200 | 2/1 | 33.3% |
| 6.00 | +500 | 5/1 | 16.7% |
| 11.00 | +1000 | 10/1 | 9.1% |
Computed in our sports betting research pack from the standard conversion formulas.
🍁 Where to go next
The sports betting hub brings together sport pages, offers and guides, and the betting sites list ranks sportsbooks for players aged 19 or over outside Ontario and Alberta. Current offers sit on the sports bonus page, and every provincial helpline is on our responsible gambling page.
FAQ
What is the difference between margin, vig and juice?
They're three names for the same idea: the edge a bookmaker builds into its odds. On a two-way market priced -110 on both sides, the implied probabilities add up to 104.76%, and the book's margin is about 4.55%. Hold is different: it's what books actually kept after results.
What does push mean in sports betting?
A push is a tie with the line. If a team at -3 wins by exactly 3, or a total of 44 lands on exactly 44 points, the bet neither wins nor loses and the stake is returned. Half-point lines such as -3.5 can't push.
What is the difference between a puck line and a run line?
Both are point spreads, usually set at 1.5. The puck line is hockey's version, the run line is baseball's. A favourite at -1.5 has to win by two or more; an underdog at +1.5 covers by losing by one or winning outright.
What is implied probability?
The chance of an outcome that the odds suggest, before you remove the margin. For decimal odds, divide 1 by the odds: 2.00 implies 50%, 1.25 implies 80%. Add the implied probabilities on every outcome in a market and the amount above 100% shows the book's built-in edge.
What is a 60-minute line in hockey?
A three-way bet on the result after regulation time: home win, draw or away win. Overtime and the shootout don't count. Standard moneylines, puck lines and totals usually include overtime and the shootout, so check which family a market belongs to.
