What Is a ‘Nickel’ in Betting Terms?

Nickel in sports betting is a term used to describe a bet of $500. It’s typically used in the context of making a wager on a single sporting event. A nickel is a relatively large wager and is usually reserved for more serious or experienced sports bettors. As an example, if someone was to place a ‘nickel’ on a team to win a game, they would be wagering $500 on that outcome in a moneyline bet.