Sports Betting - Betting Terms
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Sports Betting - Betting Terms

Terms and Definitions

ACTION

The amount of money being wagered on a game.

BAD BEAT

A hard loss.

BOOKIE

A person or organization that sets the lines and books the bets in sports.

BANKROLL

The amount of money the player plans to gamble.

BEARD

A messenger bettor. Someone who places bets on behalf of another person so that the bookmakers will not know the identity of the actual bettor.

BEEF

A Dispute

BUCK

A $100 wager.

CHALK

The team favored to win.

CHALK PLAYER

A person who usually wagers on the favored teams. A.K.A Favorite Freddie, chalk eater

CIRCLE GAME

A game where the betting action is severely limited due to uncertainties about key injuries, inclement weather conditions, or unsubstantiated rumors regarding a team.

COVER

To win by more than the pointspread.

DEGENERATE

A compulsive gambler.

DIME BET

A $1000 wager.

DOG

The underdog in any betting proposition. A.K.A. Puppy

DOG PLAYER

A person who usually bets on the underdog.

DOLLAR BET

A $100 wager.

DOUBLE BET

A wager twice the amount of one's normal wager.

EARN

The practical hold percentage

EDGE

An advantage

EVEN MONEY

A wager on which the odds are 1-1.

EXOTIC BET

A bet other than a straight bet or parlay

EXPOSURE

The amount of money the house will risk losing on a game or race.

EXTENSION

The amount of money the house theoretically stands to lose on a game or race.

FIGURE

Amount of money owed to or by a bookmaker.

FIRING

Wagering huge sums of money.

FLEA

An annoying person who wants something for nothing. One who expects to be comped for a $2 wager.

FORM

The performance expected of a team according to how they look on paper.

FUTURE BET

Bets accepted well in advance of the events.

GETTING DOWN

Making a bet.

GOING DOWN

Losing a bet or bets.

GROSS WIN

The amount of winnings before subtracting the expenses.

HANDICAPPER

A person who studies sports and predicts its outcome.

HEDGING

Betting on the opposite side in order to cut losses or guarantee winning a minimal amount of money.

HOLD

The percentage the house wins.

HOLDING YOUR OWN

Neither winning or losing, just breaking even.

HOOK

A half point in pointspreads.

HOOKED

Losing a bet by exactly one-half a point.

HOME FIELD ADVANTAGE

The edge the home team is expected to have as a result of familiarity with the playing area, fan support, and the effect of travel on the visiting team.

HOOPS

Another term for Basketball.

HOT GAME

A game that draws a significant amount of action on one side by knowledgeable handicappers.

HOT TIP

Insider information that the bookmaker cannot divulge.

JUICE

Bookmaker's commission, also known as the vig or vigorish.

LAYING THE POINTS

Betting on the favorite. A.K.A. lay a price

LAYOFF BET

A bet made by one bookmaker with another in order to balance the action and reduce the risk on one side.

LIMIT

The maximum bet accepted by a house or bookmaker before he changes odds and/or the points.

LINE

The listed odds on a game and/or payoff odds on the bet.

LINEMAKER

The person who establishes the original and subsequent betting lines.

LOCK

A sure winner.

LONGSHOT

A large underdog where the odds of winning is quite steep. Hence the term "Not by a longshot".

"THE MAN"

The Bookmaker.

MIDDLES

To win both sides of a game.

MONEY LINE

The odds expressed in terms of money.

NEUTRAL SITE

Venue of a sporting event where neither side has a home field advantage.

NEWSPAPER LINE

The betting lines appearing in the daily newspapers.

NICKEL

A $500 wager.

ODDSMAKER

The same as a linemaker.

ODDS ON FAVORITE

A horse, team or individual so favored by the public that the odds are less than even.

OFF THE BOARD

A game on which no bets are accepted.

OFF LINES

The difference of amount the Las Vegas pointspread has compared with the computerized mathematical line.

OFFICIAL LINE

The line that the bookmaker uses for wagering purposes.

OUT

An illegal bookmaker

OUTLAW LINE

An early line which is not an official line

OVERLAY

When the odds of a given proposition are more in favor of the bettor than the house.

OVER & UNDER

A wager for the total score by both teams will more or less than the total posted by the sports book.

PARLAY

A bet with two or more teams where all the teams beat on must win in order for the bettor to win the wager.

PAST PERFORMANCE

What has occurred previously to the forthcoming games.

PAST POST

To make a bet after the event has begun.

PICK'EM GAME

A game where team is favored.

PLAYER

A bettor, or gambler

POINTSPREAD

The amount of points the bettor must give to take on any given game.

POST TIME

The scheduled starting time.

PRACTICAL HOLD PERCENTAGE

The amount won by a bookmaker divided by the total amount booked.

PRESS

Betting a larger amount than usual.

PRICE

The odds or pointspread.

PROPOSITION BET

A wager on a particular aspect of the game such as how many field goals will be made.

PUPPY

The underdog.

PUSH

Where neither team wins and all money is returned to the bettors.

ROUND ROBIN

A form of parlay betting in which we wager various combining team wagers. A 3-team robin is team 1 to 2, 1 to 3, and 2 to 3. 4-team robin is team 1 to 2, 1 to 3, 1 to 4, 2 to 3, 2 to 4, and 3 to 4. 5-team, etc.

RUN DOWN

A line update.

RUNNER

A.K.A. Beard

SCALPER

A person 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 big.

SCRATCH

To withdraw or cancel a wager.

SCOUTS

Person(s) who study team plays and/or practice and report findings to handicappers.

SIDE

Winning one side of a wager and tieing the other side.

SMART MONEY

Sides that are bet on by the more knowledgeable handicappers.

SPORT PLAYER

A person who waits for what he thinks is an unusually strong wager.

SQUARE

Unsophisticated gambler.

STAR

Rating.

STEAM

When heavy action occurs on one side.

STRAIGHT BET

A bet on just one team.

THE STORE

Bookie.

STUCK

Behind, losing, buried, down for the week.

SUCKER BET

Betting on the underdog.

TAKE A PRICE

Bet the underdog, take the points.

TAPPED OUT

Broke, busted, common result of pressing.

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 bonus.

TOSS UP

A game where the line is close to pick-em.

TOUT SERVICE

A business that sells opinions on sports or horse wagers.

TRIPLE SHARP

The sharpest of the sharp.

UNDERLAY

Having the odds of a proposition lean in favor of the house.

VALUE

Getting the best available odds on a betting proposition.

VIRGORISH

The commission the bookmaker receives.

WAGER

Any Bet.

WISE GUY

A sophisticated and successful sports bettor.
GambleGnome Sports Betting - Betting Terms


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