This glossary covers every spread betting term you'll encounter on licensed US sportsbooks. Bookmark it and use it alongside the Strategy hub when a line or promo leaves you scratching your head. Availability of spread betting varies by state — it's legal in 30+ states as of 2024, but prohibited in others including Utah, Hawaii, California, and Texas.

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What do all these spread betting terms actually mean?

Point Spread
A handicap set by oddsmakers. The favorite must win by more than the spread; the underdog must lose by less (or win outright). Start with What Is the Point Spread? A Plain-English Explanation if this is new territory.
Cover
A team "covers" when it beats the spread. A -6.5 favorite that wins by 7 covers. A +6.5 underdog that loses by 6 also covers.
Push
The margin lands exactly on the spread. Full wager refunded. No winner, no loser.
Vig (Juice)
The sportsbook's cut baked into the odds. Standard spread lines are priced at -110, meaning you bet $110 to profit $100. That extra $10 is the vig. At -110/-110 on both sides, the theoretical hold is roughly 4.5%.
Handle
The total dollar amount of bets accepted by a sportsbook over a given period. Big handle doesn't mean big profit for the book — that's what hold measures.
Hold
The percentage of the handle the sportsbook retains as profit after paying out winning wagers. A 4.5% hold on a balanced -110 book is the industry baseline.
Closing Line
The final spread posted right before kickoff or tip-off. Sharp bettors measure their edge by whether they beat the closing line. Getting a number better than where the line closed is a sign of quality handicapping.
ATS (Against the Spread)
A team's record of covering — or failing to cover — the spread. Different from a win-loss record. See What Does ATS Mean? Against the Spread Records Explained for the full breakdown.
Key Number
Common winning margins that show up most often in a given sport. In the NFL, 3 and 7 are the big ones. Spreads cluster around them because so many games end by exactly those margins. NFL Key Numbers: Why 3 and 7 Drive Point Spread Decisions digs into the math.
Moneyline
A straight bet on who wins the game — no spread involved. Expressed in American odds like -150 or +130.
Parlay
Two or more bets combined into one ticket. Every leg must win. Higher payout, much higher risk. Parlaying spreads compounds both variance and the house edge.
Rollover (Playthrough)
The number of times a bonus amount must be wagered before winnings derived from it can be withdrawn. Always read the full terms before claiming any offer — rollover requirements vary widely by operator and state.
Reduced Juice
Lines priced at -108 or -105 instead of the standard -110. Lower vig, better return to player. Worth hunting for when line shopping across licensed books.
Fixed-Risk Wager
A straight spread bet is a fixed-risk wager — your maximum loss is the amount you wagered. You cannot lose more than your stake on a single straight bet.

Why does the closing line matter so much?

Sharp money moves lines. When a spread shifts from -3 to -4.5 before game time, the closing line reflects all available information the market has processed. Bettors who consistently get a number better than the close are extracting real value. Bettors who consistently get a worse number are paying a premium they don't need to pay. Line shopping across FanDuel, DraftKings, BetMGM, and Caesars takes two minutes and compounds into meaningful savings over a full season.

How does rollover affect spread betting bonuses?

Bonus terms differ by operator and are only available in states where that operator holds a valid license. A rollover requirement means winnings from a bonus bet aren't yours to withdraw until you've wagered the required amount in real money. A 5× rollover on a $100 bonus means $500 in qualifying wagers before cashout. Check current T&Cs directly on each sportsbook's promotions page — terms change frequently and vary by state.