Bet365 sports betting glossary
Basic terms
Start with the building blocks: stake, odds, payout, moneyline, spread and sportsbook. These few terms underpin almost everything else you will encounter when betting.
Every bet is built from a handful of basic ideas. Your stake is the amount you wager. The odds express how much you stand to win relative to that stake and imply the probability of the outcome. Your payout is what you receive if the bet wins, including your stake back on most bet types. The sportsbook is simply the operator — Bet365 — that takes the bet and sets the odds.
Two core bet types appear constantly. The moneyline is a straight bet on which team or competitor wins, with no margin involved. The spread (or point spread) is a margin handicap: the favorite must win by more than the spread, while the underdog can lose by less than it or win outright for the bet to cash. Grasping moneyline and spread is most of what you need to read a typical US game.
- Stake: the amount you bet
- Odds: the price, implying win amount and probability
- Payout: what you receive on a winning bet
- Moneyline: a straight bet on the winner
- Spread: a margin handicap on favorite and underdog
Master these basics and the rest of the glossary builds naturally on top of them.
Stake, odds, payout, moneyline and spread are the building blocks; understanding them makes most US betting markets immediately readable.
Odds formats
US sportsbooks default to American odds, shown as positive or negative numbers. Decimal odds are an alternative, and understanding hold or vig explains the book's built-in margin.
American odds are the US default and the format you will see on Bet365 by default. A negative number (e.g. -150) shows how much you must stake to win 100 — the favorite. A positive number (e.g. +130) shows how much you win on a 100 stake — the underdog. The bigger the negative number, the heavier the favorite; the bigger the positive number, the longer the underdog.
Decimal odds are an alternative format, common internationally, where the number (e.g. 2.50) multiplied by your stake gives your total return including stake. Many books, including Bet365, let you switch the display to decimal if you prefer. The key concept behind all formats is hold (also called vig or juice): the book's built-in margin, the reason the two sides of a market do not pay exactly even. Understanding hold is what tells you the odds always include a cost to bet, which is why line-shopping for better prices matters.
| Term | Meaning |
|---|---|
| American odds | US default; +/- numbers vs a 100 baseline |
| Negative (-150) | Stake to win 100 — the favorite |
| Positive (+130) | Win on a 100 stake — the underdog |
| Decimal odds | Multiply stake for total return; switchable display |
| Hold / vig | The book\'s built-in margin in every market |
Get comfortable reading American odds and aware of the hold, and you can judge any price the sportsbook shows.
American odds use +/- numbers and are the US default; knowing them and the built-in hold lets you read and compare any price.
Main markets
The main markets are the spread, the total (over/under) and player props. Together they cover most of how Americans bet on games, from the result to individual performances.
Beyond the moneyline, three markets dominate US betting. The spread, covered above, handicaps the margin. The total — also called the over/under — is a bet on the combined score of both teams being over or under a number the book sets; you are betting on how high-scoring the game is, not who wins. Totals are popular because they let you bet a view on pace and style rather than picking a side.
Player props (proposition bets) are wagers on individual performances rather than the game result — a quarterback's passing yards, a guard's points, a pitcher's strikeouts, over or under a set line. Props have exploded in popularity and are central to modern betting, especially when combined in a Same Game Parlay. Futures round out the main markets: long-term bets on outcomes like a championship or an award, placed well in advance.
- Spread: a margin handicap on the favorite and underdog
- Total (over/under): the combined score over or under a line
- Player props: bets on individual performances
- Futures: long-term bets on championships and awards
Spread, total and props cover most everyday betting, and knowing each lets you express almost any view on a game.
Spread, total and player props are the main US markets, letting you bet the margin, the scoring, or individual performances on any game.
Advanced concepts
Advanced terms include the parlay and Same Game Parlay, live or in-play betting, Cash Out and bankroll. These shape how experienced bettors build and manage their wagers.
A parlay combines multiple selections into one bet where all must win, for a larger combined payout and lower probability. A Same Game Parlay (SGP) combines selections from a single game, priced for their correlation. Live or in-play betting is wagering on a game while it is happening, with odds that update in real time — a Bet365 specialty. Cash Out lets you settle a bet early for a live-calculated value, before the event ends.
The most important advanced concept is not a bet type at all: bankroll, the money you set aside specifically for betting. Bankroll management — staking a small, consistent percentage of your bankroll per bet rather than wagering wildly — is what separates disciplined bettors from those who go broke on a bad run. Line shopping, comparing odds across books to take the best price, is the other habit that compounds into a real edge over time. These concepts matter more to long-term results than any single clever bet.
- Parlay / SGP: combined bets where all legs must win
- Live / in-play: betting during a game on updating odds
- Cash Out: early settlement for a live value
- Bankroll: money set aside for betting, managed carefully
- Line shopping: comparing prices across books for the best odds
Bankroll management and line shopping are the advanced ideas that most affect long-term results, more than any individual bet type.
Parlays, live betting and Cash Out are key bet types, but bankroll management and line shopping are the advanced habits that most shape long-term results.
Practical tips
The practical takeaways tie the glossary together: manage your budget, shop for the best line, understand the hold, and keep responsible gaming central to everything you do.
Knowing the terms is only useful if you apply them well, and a few practical habits turn vocabulary into better betting. First, manage your budget: decide a bankroll you can afford to lose, stake a small consistent fraction per bet, and never chase losses. Second, line-shop — because every market carries a hold, taking the best available price across books is a genuine, compounding edge that costs nothing but a few seconds.
Third, understand what you are betting before you bet it: read the market, know how it settles, and check offer terms rather than assuming. Avoid the trap of large prop parlays as a path to value — they are entertainment, priced in the book's favor. And above all, keep responsible gaming central. Set deposit and time limits, treat betting as paid entertainment rather than income, and use the support resources if it ever stops being fun. The 1-800-GAMBLER helpline is there for anyone who needs it, and 21+ rules apply to all betting.
- Budget management: a set bankroll, small consistent stakes, no chasing
- Line shopping: take the best price to beat the hold
- Understand the bet: know how a market settles before staking
- Responsible gaming: limits, perspective and 1-800-GAMBLER
Apply these habits and the glossary becomes a foundation for betting that is informed, disciplined and under control.
Budget management, line shopping, understanding each bet and keeping responsible gaming central turn glossary knowledge into disciplined, informed betting.
Frequently asked questions
What are American odds?
American odds are the US default format, shown as positive or negative numbers around a 100 baseline. A negative number like -150 is the favorite and shows how much you stake to win 100; a positive number like +130 is the underdog and shows what you win on a 100 stake. Bet365 displays them by default and lets you switch to decimal.
What is the difference between the moneyline and the spread?
The moneyline is a straight bet on which team wins, with no margin. The spread is a margin handicap: the favorite must win by more than the spread, while the underdog can lose by less than it or win outright. The moneyline rewards picking the winner; the spread evens out mismatched teams.
What does "hold" or "vig" mean?
Hold, also called vig or juice, is the sportsbook's built-in margin — the reason the two sides of a market do not pay exactly even. It is the cost of betting embedded in every price. Understanding the hold is why line shopping matters, since taking the best price across books reduces that cost.
What is bankroll management?
Bankroll is the money you set aside specifically for betting. Bankroll management means staking a small, consistent percentage of it per bet rather than wagering wildly, and never chasing losses. It is the habit that most separates disciplined long-term bettors from those who go broke on a bad run.
What is a Same Game Parlay?
A Same Game Parlay combines multiple selections from one game — such as a spread, a total and player props — into a single bet at a combined price, with all legs needing to win. Because the selections come from one game, the price accounts for how they correlate. They are fun but carry a higher margin, so stake them small.