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| Glossary Terms |
| A |
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| Action:
A live bet or bets. ("They have a lot of action on that game." "I have action on this
game.")ATS:
Against the spread
Arbitrage:
Betting the same event at separate sports books in order to lock in a profit by taking advantage of
different betting lines.
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| B |
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| Back Door:
A 'cover' that occurs in the waning moments of a gameBad Beat:
A very tough, often emotional, betting loss that is characterized by rotten luck.
Bankroll:
Total capital available for betting sports.
Beard:
A person who is betting someone else's money for that other person; a messenger.
Beef:
Dispute
B.M.:
Bookmaker
Board:
A presentation of all the games and events available for betting in a sportsbook. If wagers are being
taken on a game, the game is "on the board. Otherwise, it is "off the board."
Bookmaker (or bookie):
A person who accepts bets.
Bow-wow:
An underdog.
Buck:
$100. Also see "dollar."
Buyback:
The money that comes in on the underdog after a favorite is bet heavily enough to move the line.
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| C |
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| Chalk:
A favorite (usually a heavy favorite).Chalk Eater:
Bettors who like to bet big favorites (often a derogatory term).
Churn:
The effect of betting and re-betting money.
Circled Game:
A game in which the sports book has reduced its betting limits, usually because of weather or the
uncertain status of injured players.
Cover:
Winning against the point spread. (A 10-point underdog that loses 20-14 has covered, or "covered the
spread.")
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| D |
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| Degenerate:
Compulsive gambler.Dime:
$1,000 (A "five-dime" bet is a $5,000 bet).
Dime Line:
A betting line with a 10-cent straddle, often used in baseball. With a dime line, if the favorite is
minus 120, the underdog is plus 110.
Dog:
See "underdog.
Dollar:
$100. (If a sports book has a $500 maximum on a particular type of bet, you could say it's a
"five-dollar limit").
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| E |
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| Earn:
Practical hold percentage.Edge:
Advantage
Exotic Bet:
Action other than a straight bet or parlay.
Extension:
The amount of money the house theoretically will risk losing on a game or a race.
Exposure:
The degree of risk that a sports book will lose money on a given game, result or proposition. (If a
book is "highly exposed" on the Cubs in World Series futures betting, it will lose a lot of money to
bettors if the Cubs win the World Series.)
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| F |
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| Fade:
To take the opposite side of another bettor's wager or to accept that bet
yourself.Favorite:
A team (or player) that, according to the odds, is the stronger or strongest in a given match-up or is
regarded as such by the betting public or is expected to win.
Figure:
Amount owed by or to a bookmaker.
Firing:
Betting a lot. A player who is "firing", is wagering large sums.
First-half betting:
Wagers that involve the outcome of the first half of a game only.
Flea:
An annoying bettor always wanting something for nothing; a $2 bettor who expects to be rewarded for his
action.
Form:
What performance is to be expected, according to how a team looks on paper.
Freeroll:
A bet you can win or push but not lose.
Futures:
A type of wager involving the outcome of a season or how a particular team or player will perform over
the course of a season.
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| G |
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| Get Down:
Make a bet.Gross Win:
Win before expenses. |
| H |
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| Halftime Betting:
Wagers based on betting lines that are posted at halftime, which involve the outcome of the second half
of a game only.Handicap:
To study and research sports, in order to make predictions on the results of upcoming games and events.
Handicapper:
One who studies sports and predicts outcomes.
Handle:
The amount of money in wagers accepted. ("The handle was down this year on the Super Bowl").
Hedge:
To make a bet that takes the opposite side of your original position, usually to reduce risk or lock in
some profit.
Hold:
The percentage the house wins.
Home Field Advantage:
Edge the home team is expected to have as a result of familiarity with the playing area, favorable
demographics and effect of travel on the visiting team.
Hook:
A half-point in the betting spread. ("I lost by the hook").
Hoops:
Basketball
Hot Tip:
Information the bookmaker is not yet privy to.
House:
The casino, sports book or bookmaker.
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| J |
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| Juice:
Bookmaker's commission and most often refers to the 11 to 10 football bettors lay on straight wagers.
Also see "vigorish". |
| L |
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| Lay A Price:
Bet a favorite and/or lay the points.Layoff:
A type of wager made by one bookmaker with another, often larger, bookmaker in order to balance action
or reduce risk.
Limit:
The maximum wager accepted by a sports book.
Line:
The point spread or odds on a game or event.
Lock:
A bet that cannot lose; a term that is often misused and abused by disreputable touts.
Long Shot:
Big underdog.
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| M |
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| Matador:
A cover that occurs in the waning moments of a game (also referred to as a back door
cover).Match-up Propositions:
A betting option that pits two players against one another in a contest or event. This is often times
used in golf and auto racing wagering.
Middle:
A situation in which you bet both sides in a game and win both bets, due to favorable line moves.
(Example: Bet a football favorite at minus 2 ½, then bet the underdog at plus 3 ½ at another book or
later in the week. If the favorite wins by exactly 3 points, both bets win)
Money Line:
The odds on a team winning a game outright, regardless of the point spread.
Money Management:
Any strategy used by a bettor for making the most of his bankroll.
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| N |
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| Neutral Site:
Arena, court or field where neither side has a home field advantage.Nickel:
$500. |
| O |
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| Offshore:
Term used for the organized sports betting industry outside of the United States.Off The
Board:
Game where no bets are being accepted.
Out:
A place to get bets down, whether it's a offshore sports book or illegal bookmaker. ("It's good to have
a lot of outs").
Over/Under:
See "Totals".
Overlay:
A situation in which the odds are favorable to the sharp bettor.
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| P |
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| Parlay:
A bet in which two or more events must happen in order to win; if any one of them does not happen, the
wager loses.Past Post:
To make a bet after an event has started.
Pick 'em:
An even match-up; a game with no clear favorite.
Player:
A sports bettor.
Pleaser:
A specialized form of a parlay that improves the point spread (for the book) but pays off at improved
odds.
Point Spread:
The number of points added to or subtracted from a team's actual score for betting purposes.
Power Rating:
A numerical representation of a team's strength for betting purposes.
Practical Hold Percentage:
The amount won by a bookmaker, divided by the total amount booked.
Press:
To bet a larger amount than usual.
Price:
See "Line".
Proposition (or prop):
An unusual or offbeat betting opportunity.
Public:
Average, unsophisticated or casual bettors as a whole; or, used to describe money bet by the public ("a
lot of public money came in on the Cowboys"); See "Square".
Puck Line:
In hockey, a betting structure that dictates the favorite must win by a set number of goals and/or adds
a set number of goals to the underdog's actual score.
Pup:
See "Underdog".
Push:
A bet in which the money wagered is refunded; a tie.
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| R |
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| Rotation:
The official list of all the games on the betting board, presented in a specific order.Round
Robin:
A specialized form of a parlay that uses every combination of a set of teams in a wager. For example,
there would be six two-team parlays within a four-team round robin.
Rundown:
A reading of all the games and betting lines on a particular day.
Runner:
See "Beard".
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| S |
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| Scalp:
A form of a middle in which you bet both sides in a game, taking advantage of line movements to secure a
profit.Scalper:
One who attempts to profit from the differences in odds from book to book by betting both sides of the
same game at different prices.
Score:
To win a lot of money.
Scratch:
Withdraw; cancel.
Sharp:
Savvy, highly informed; or, used to describe the money bet by sharp players ("a lot of sharp money came
in on the Patriots").
Shortstop:
A small bettor.
Side:
A variation of a middle in which you win one bet and push the other; also, a particular team in a
match-up. ("Which side do you like?").
Sportsbook:
An establishment that accepts bets on athletic contests.
Square:
An unsophisticated or casual bettor; the opposite of a wise guy; see "Public".
Steam:
One-sided action.
Straight Bet:
A single bet, usually laying 110 to win 100.
Sucker Bet:
Bet with a large house edge.
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| T |
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| Take a Price:
Bet the underdog or take the pointsTakeback:
On a money line, the price of the underdog. (In baseball, if the favorite is minus 120, the "takeback"
on the underdog is often plus 110).
Tapped Out:
Broke or busted. Oftentimes, a common result of pressing.
Teaser:A specialized form of a parlay that improves the point spread (for the bettor)
but pays off at reduced odds.
Theoretical Hold Percentage:The edge the bookmaker would have IF the odds guaranteed
him a constant commission, regardless of the outcome.
Toke:
A tip or gratuity.
Toss Up:
Game where the line is close to pick-em.
Totals:
A type of wager that involves whether a score or result will go over or under a posted number.
Tout:
A person who sells his predictions to bettors (often derogatory).
Triple Sharp:
The sharpest of the sharp. (Note: There is no such term as "Double Sharp").
20-cent line:
A betting line with a 20-cent straddle, which is standard in football and basketball. (With a 20-cent
line, if the favorite is minus 120, the underdog is even money).
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| U |
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| Underdog:
A team (or player) that (according to the odds) is the weaker or among the weakest in a given match-up,
or is regarded as such by the betting public, or is expected to lose.Underlay:
When the odds on a proposition are in favor of the house. |
| V |
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| Value:
An overlay.Vigorish (or vig):
The commission charged by the bookmaker. |
| W |
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| Guy:
A sharp, successful, established professional sports bettor.Wood:
The price of a heavy favorite. (If you bet the Red Sox as a minus 240 favorite, you "lay the wood" with
the Red Sox). |
