Payout

A result in which the final score lands exactly on the point spread or total, resulting in a tie between the bettor and the bookmaker. In a push, the stake is returned. For example, if the spread is -3 and the team wins by exactly 3, the bet is a push. Half-point lines (e.g., -3.5) are used to prevent pushes.

A virtual advantage or disadvantage applied to a team or player to level the playing field in a sporting event. For example, a -1.5 goal handicap means the team must win by 2 or more goals for the bet to win. Handicaps are used to create more balanced betting markets.

A numerical representation of the likelihood of an outcome and the potential return on a bet. Odds can be displayed in decimal (2.50), fractional (3/2), or American (+150) format. Higher odds indicate a less likely outcome but a larger potential payout.

The amount of money a bettor risks on a single wager. Proper stake sizing is a critical component of bankroll management. Most professional bettors recommend risking between 1% and 5% of your total bankroll on any single bet to minimize the risk of ruin.

The commission or fee built into the odds by the bookmaker. Also known as vigorish (vig), it represents the bookmaker's profit margin. For example, if both sides of a coin flip are priced at 1.91 instead of 2.00, the difference is the juice. Lower juice means better value for bettors.

The percentage above 100% that the implied probabilities of all outcomes in a market add up to. A market with odds that imply 103% total probability has a 3% margin. Lower margins mean fairer odds for bettors. Also called the overround or book percentage.