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Sports Betting Terms & Definitions

Below are some of the Sports gambling Terms and definition specifically to the sports gambling industry.

ACTION
A wager of any kind. The current amount of money in play.All In
A dramatic bet by a player of all his chips on one hand in poker. Ante
A Poker term referring to the first wager of a particular hand, usually describing a minimum 'buy-in' to be included in that hand.

ATS - "Against the spread,"
There are two common ways of betting sides: the moneyline and against the spread. To bet against the spread is to make a wager that will be decided by adding points to one team or the other after the game is played.

BOOKIE
Person who takes clients bets

Bankroll
Your available gambling money

BEARD
A friend, acquaintance or other contact who is used to place bets so that the bookmakers will not know the identity of the actual bettor. Many top handicappers and persons occupying sensitive positions use this method of wagering.

BUCK
A $100 wager

CHALK
The favored team

CHALK PLAYER
Someone who usually only plays the favored teams. Rarely bets on underdogs. Also known as Favorite Freddie. CIRCLE GAME
A game in which the betting action is severely limited. Usually occurs in those games that feature key injuries, inclement weather, or unsubstantiated rumors regarding a team. Most bookies "circle" all Ivy League Games.

COVER
To bet the spread by the required number of points. If such occurs you have "covered the spread".

DIME BET
A $1000 wager

DOG
The underdog in any betting proposition

DOG PLAYER
One who mostly plays the underdog

DOLLAR BET
A $100 wager

DOUBLE BET
A wager for twice the size of one's usual wager.

EVEN MONEY
A wager on which neither side lays any odds or vigorish

FIXED
Point shaving. Never say to a client that a game is fixed!

FUTURE BET
Bets accepted well in advance.

GETTING DOWN
Making a wager

GOING DOWN
Losing

HANDICAPPER
One who studies and rates sporting events

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

HOLDING YOUR OWN
Neither winning or losing, just breaking even

HOOK
A half point added to football and basketball betting lines

HOOKED
Losing a wager by exactly one-half a point

HOT GAME
A game which is drawing a lot of action on one side by knowledgeable handicappers.

JUICE
The bookmaker's commission, also known as vigorish

LAYING THE POINTS
Betting on the favorite

LIMIT
The maximum amount a bookmaker will allow you to bet before he changes odds and/or the points. Also the "cap" on what you can personally wager.

LINE
The listed odds on a game ( points or money line )

LINE-MAKER
The person who establishes the original and subsequent betting lines.

LOCK
Easy winner, can not lose

"THE MAN"
Bookie

MIDDLE'S
To win both sides of the same betting proposition by the point spread.

MONEY LINE
Odds expressed in terms of money

NEWSPAPER LINE
The betting line which quite often appears in the daily newspapers. The lines are only approximate and quiet often totally inaccurate and misleading.

NICKEL
A $500 wager

ODDS-MAKER
The same as a lines-maker

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 the bookmaker will not accept action.

OFF LINES
The amount the Las Vegas point-spread differs from our computerized mathematical line.

OFFICIAL LINE
The line that the bookmaker uses for wagering purposes. The line which comes from Las Vegas is quite often referred to as the official line; however, the line that your bookie offers you is actually your "official line". Many smart bettors like to know the Las Vegas official line so that they can compare to their local bookies in order to determine how badly they are being "faded".

OUTLAW LINE
An early line which is not an official line. Quite often line makers allow specially selected bettors to wager into the "outlaw line" before entering the line to the public. The line makers respect these individuals and use their input to create a final opening number. This process is also called "ironing" or "flattening" the line.

OVERLAY
An advantage for the bettor in which the price on a given wager is greater than the real probability of its success.

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

PARLAY
The number of teams in the parlay must all hit or the parlay loses. 2-team parlay pay 13-5 odds. 3-team parlay pay 5-1 odds. 4-team parlays pay 8-1 odds.

PAST PERFORMANCE
What has occurred previously to the forthcoming games

PICK'EM GAME
Neither team is favored. Take your pick and lay 11 to 10.

POINT-SPREAD
Or "line". The amount of points the bettor must give to take on any given game.

POST TIME
The Schedule starting time.

PRICE
The odds or point-spread

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

PUSH
Tie. Neither side 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

SCOUTS
Person's who study team plays and/or practice and report findings to handicappers.

SCORE
To make a big win

SCRATCH
To call off a wager

SIDE
When one side of a wager wins and the other side ties.

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.

"STAR"
Rating

STEAM
When a betting line starts to move quite rapidly. Most "steam games" do not necessarily reflect the "right side", but are games that the mass of bettors somehow decide to key on.

"THE STORE"
Bookie

STUCK
Behind, losing, buried, down for the week

SUCKER BET
A bet that is very disadvantageous to the player.Straight-up- Straight-up- Winning the game outright without any taking into account the point spread.Systems- Using trends from the past to predict future outcomes.Taking the points
Betting the underdog and its advantage in the point spread.

Taking the price
Betting the underdog and money odds.

Teaser
sports betting parlay in which you adjust the point spread or total of each individual play.

Ticket
sports betting wager.

Tie
Sports wager in which no money is won or lost because the score were equal to the points spread.

Total
The combined amount of runs, points or goals scored by both teams during the game, including the overtime.

TOUT
Someone who sells his opinions on sports or horse wagers.Trends-  following a general course, Using the past to predict future outcomes.

Under - sports wager in which the bettor guesses that the total points scored by two teams will be under a certain figure.

Underdog - The team perceived to be most likely to lose. Also known as the "dog" in sports betting terminology.


VALUE
Getting the best odds on a betting proposition; the highest possible edge.

VIRGORISH
The commission paid to the bookmaker, also known as juice.

WAGER
Any Bet

WISE GUY
A sophisticated gambler

Basic Types of Sports Bets (A guide of basic types of sports bets available)

 

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