Sports Betting Terms and Concepts

Last updated on December 29th, 2021

As in any other business, people use a variety of expressions that can be described as “slang” or “jargon”. Sports betting terminology can be formal, technical, or slang. You can use these terms when using the VOdds platform. 


This article will focus on the terms in sports betting and their meanings. Let’s consider the basic concepts that beginners will need.


VOdds platform


Here’s What You Need To Know Before Betting Online:


Before diving into the world of online sports betting, study some terminologies first. We will divide these jargon into three categories:


  1. Official
  2. Bookmaker
  3. Slang


Let’s take the first two categories into a separate subspecies and analyze them separately. Very often in the betting dictionary, certain expressions have a similar meaning:


  1. Official terminology is most often used at the legislative level. You can highlight such words as bet, win, bookmaker and others.
  2. The bookmaker’s terminology is in many ways similar to the official one. It is often used by bookmakers to designate certain outcomes, events, and more. As an example, we can cite the words line, coefficient, system, single, express, free bet and similar expressions. 


Let’s understand the meanings of these terminologies before you start betting:


  • Betting is a game that depends on a certain outcome, which cannot be known in advance.
  • Bet – the amount of money that the player has placed on a certain event
  • Win – the amount of money the user was able to win based on the winning bet
  • Bookmaker is a specialized firm where players can place their bets on.
  • Line – sometimes money line, are events on which the player has the opportunity to place a bet
  • Odds – a multiplier that helps you calculate the likely winnings
  • System – a strategy that contains betting selections for you to win.
  • Single – a rate consisting of one event
  • Express – a bet consisting of several events. In this case, the coefficient is summed up
  • Free bet is literally a free bet, often given to newbies by some bookmakers.


Slang Basics of Sports Betting


The slang expressions are distinguished into a separate category. They are used by players in informal conversation. Examples are the words bettor, beech, kef, value, capper, luz, popan and the like.


Let’s talk about each expression in more detail:


  • Bettor or punter – a person who plays sports betting or any type of betting activities
  • Beard – a person who places a bet on behalf of someone else
  • Kef – coefficient of a certain event 
  • Vigorish (Vig or Juice) – Commission that is built into money line or charges by the bookmakers
  • Handicapper – an experienced gambler or sports bettor who predicts odds and works for bookmakers or casinos to set the odds
  • Dog or Underdog – a weaker team that is predicted to lose the match but still have a chance to win the game
  • Sucker – an inexperienced or beginner punter who makes bad betting decisions and keep losing huge amounts of money in betting


These jargon may vary per country or location but can be used when communicating informally with other players. You can also see these words in tipster articles and forums. If you would like to apply your acquired knowledge of slang to betting, join VOdds today and start betting!


We also recommend reading our article “List of Underrated Betting Strategies” to learn about unpopular types of bets that will help you win even more!

Be one step ahead of your game by receiving our latest sports news and betting tips!

Related Topics




  1. Participants should have an active social media account. Social media platforms included in this program are as follows:
    1. Twitter
    2. Instagram
    3. VK
  2. To qualify, you must follow the mechanics required in ANY of these platforms:
    1. Twitter
      1. Participants must follow Vodds’ official Twitter account
      2. Like the tweet related to March Madness
      3. Quote retweet post with answer and hashtags #VOdds #marchmadness
    2. Instagram
      1. Participants must follow Vodds’ official Instagram account
      2. Like the post related to March Madness
      3. Share the post on story with answer and hashtags #VOdds #marchmadness
      4. Mention/Tag @vodds_official on your story
    3. VK
      1. Participants must follow Vodds’ official VK account
      2. Like the post related to March Madness
      3. Share the post on your profile with answer and hashtags #VOdds #marchmadness
  3. Other requirements:
    1. Shared posts (excluding stories) should not be deleted until the end of the campaign
    2. Social media accounts should be in public for post verification
  4. Winner selection
    1. Announcement of winners will be at 2 PM GMT+8
    2. There will be daily and grand prizes at the end of the campaign
    3. Daily winners will be draw randomly using
    4. Participants can join as many times as they want but only 1 entry per day
    5. Entries accumulated during the campaign will be added and draw at the end of the campaign for the Grand Prize
    6. Confirmed winners will be contacted and will be requested to provide the ff.
      1. Full Name
      2. Email Address
      3. Mobile Number
      4. Country
      5. Payment Method (please see the list of available payment channels here)
  5. Prizes & Withdrawal guidelines
    1. 3 random winners will win 10 USD on daily games
    2. 3 random winners will win 50 USD on the final four stage
    3. A total of 200 USD will be awarded at the end of the campaign to the grand prize winner.
    4. Prizes will be added to your VOdds account and can be withdrawn after completing of the turnover requirements
  6. Other terms & conditions
    1. This offer is valid to new customers of VOdds and existing users who have not previously deposited and can be availed from the period of March 9 – April 5, 2022 only.
    2. You must have settled bets of up to 5X of the prize before your winnings and prizes become withdrawable.
    3. Prize will be converted to your VOdds account currency using rate.
    4. This offer only applies to bets placed via VOdds website. Bets that are placed using our API will not qualify for this offer.
    5. Bets placed on Positional Orders will not qualify.
    6. If the requirements for this offer have not been met within 30 days from your first deposit, the promotion will expire.
    7. All qualifying bets must be settled before the promotion’s expiry.
    8. If you cancel your bonus after you enter the promotion or before you complete the requirements, the offer shall be forfeited.
    9. This offer cannot be used in conjunction with any other offers. You can only have one active bonus at a time. VOdds reserves the right to limit the eligibility or cancel any offer to any customer.
    10. This offer is strictly limited to one per person, family, household address, email address, telephone number, same payment account number (e.g. SKRILL, NETELLER, etc), and shared computer (e.g. public library or workplace).
    11. In case of canceled, voided, rejected, or non-runner bets, stakes will be put back into the original wallets and wagering progress is reverted.
    12. If any terms of the offer are breached (or there is any evidence of multiple bets placed by a customer from any other promotional offer resulting in guaranteed customer profits regardless of the outcome), VOdds reserves the right to reclaim the bonus or void any bets funded by the promotion.
    13. These terms and conditions operate in conjunction with VOdds’ General Terms and Conditions.