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Betting Tutorial - Gaming Terms

 
 
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

A

Action: A bet or wager.

Active Player: In poker, one who is still in play.

Added Game: A game added to the Nevada Rotation Schedule after schedule was initially published. Added game could be a new game or the result of a postponed game.

Add-on: In poker, the facility to buy additional chips in tournaments.

Aggregate Limit: Total payout liability of a casino during any one game.

All-in or Going All-in: In poker, to call with all your chips. If another player bets more chips than you have in a No Limit game, you can go All-in and stake your total stack against an equivalent amount of your opponent's stack.

Angle: Using trends regarding teams and how often they cover the point spread in particular situation, and using those trends to predict the results of future events.

ATS: Against the spread.
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B

B.R.: Bankroll.

Bad Beat: Tough loss.

Beard: Messenger bettor; Someone who places a bet for someone else in order to conceal the indentity of the real bettor.

Beef: Dispute.

Bet: To risk something on the outcome of a future event. Also called "Wager."

Book: Short for Sportsbook; An establishment that accepts bets on the outcome of sporting events.

Bookie: A person who accepts bets.

Bookmaker: A person or establishment who accepts bets.

Buck: A $100 Bet. Also called a "Dollar" wager

Buy Points: To pay an additional price on point spread games in order to receive half a point or more in your favor. Also called "Move the Line".

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C

Canadian Line: A line type that combines point Total/Goal line and money line in hockey. The amount to lay is determined by the money line, and the team wagered on must win by the Total/Goal spread.

Chalk or "Betting the Chalk": The favorite. In horse racing, also refers to horse with most money bet on it.

Chalk Eater: A person who usually only bets on favorite team or horse.

Churn: The effect of betting and rebetting money.

Circled Game: Game where action is limited due to uncertainties about weather, injuries, etc; These games cannot be included in parlays or teasers.

Cover: Win by more than the pointspread

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D

Degenerate: Compulsive gambler

Dime: A $1,000 bet.

Dime Line: a line where the juice is 10%, indicated with a -110 or +110 side.

Dog: The underdog; The team or horse predicted to lose.

Dog Player: A person who mostly bets on underdog team or horse.

Dollar: a $100 bet. Also called a "One Dollar" bet or a "Buck" wager.

Double Action: The subsequent selection of an 'If Bet' which is processed if the preceeding selection is a win, push (tie), no action, or cancelled.

Double Bet, Double pop, or Doubling Up: a bet that is twice the size of a persons usual wager.

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E

Earn: Practical hold percentage.

Edge: To have advantage.

Even Money: A bet where no juice is laid, and can be indicated with a -100 or +100 side; Odds are 1/1.

Exotic Bet: any wager other than a straight bet or parlay, such as a Prop bet.

Exposure: The amount of money the house actually stands to lose on a game or a race.

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

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F

Favorite: The team or horse predicted to win.

Fifty Cents: A $50 bet. Also referred to as a "Half a Dollar".

Figure: Amount owed by or to a bookmaker.

First Half Bet: a wager placed on the first half of a game. In baseball, it is a wager placed on the first 5 innings of a game.

Firing: Betting frequently. A player who is "firing" is wagering large sums.

Flea: A person who wants something for nothing; a bettor who places a small wager and expects to be comped for his action.

Form: What performance is to be expected according to how a team looks on paper.

Future or Futures: A wager on an event that is happening sometime in the future. Example: to place a bet at the start of the football season on which team will win the Superbowl.

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G

Gamble or Gambling: To risk money on the outcome of an event.

Get Down or Getting Down: Make a bet.

GOY: Game of the year.

Grand Salami: A Total/Goal spread wager that includes the total goals scored in all the Hockey games of the day.

Gross Win: Win before expenses.

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H

Half a Dollar: A $50 bet. Also referred to as a "Fifty Cent" bet.

Handicapper: One who studies and predicts outcomes of sporting events or races.

Handicapping: Attempt to predict the outcome of sporting events.

Handle: Total amount of bets taken

Hedge or Hedging: Bet the opposite of your original wager in order to dilute the amount of action you have on a game in order to reduce risk, cut losses, or guarantee a minimum amount of winnings.

Hold: The percentage the house wins.

Hook: Half point in point spreads, as in "lost by the hook"

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.

Hoops: Basketball

Hot Game: a game that is drawing a lot of action on one side.

Hot Tip: Information the bookmaker is not yet privy to.
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I

If Bet: a type of bet that consists of at least two straight bets joined together by an 'if' clause that determines the wager process. If the first selection complies with the condition clause, then the second selection will have action.
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J

Juice: Bookmaker's commission, most often refers to the 11 to 10 football bettors lay on straight wagers; Also referred to as "Vigorish" or "Vig".
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K
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L

Laying the Points Bet the favorite on the spread line.

Lay a Price or Laying the Price Bet a favorite by laying money odds.

Layoff Bet: A wager made by one bookmaker with another to help balance his action and reduce his risk on one side or one horse.

Limit: The maximum amount a bookmaker will allow you to bet before he changes the odds.

Line: The betting proposition on a game and/or payoff odds on the bet; The current odds or point spread on an event.

Linemaker: The person who sets the betting lines for a sportsbook. Also referred to as an Oddsmaker.

Line Move: a change in the odds on a particular team by the linemaker.

Listed Pitchers: A clause when betting baseball in which the bet is only placed if both of the pitchers scheduled to start a game actually start.

LN: Last Night.

Longshot: Team or horse with only a slight chance of winning. Large underdog. A bet made at great odds.
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M

Middle: To win both sides of a game. For example, if you bet the underdog +3 1/2 and the favorite - 2 1/2 and the favorite wins by 3, you've "Middled" the book. The book has been "Middled".

Money Line: Odds expressed in terms of money for a team to when straight up. If the money line has a minus (-), you lay that amount to win a hundred dollars; If the money line has a plus (+), you get that amount for every hundred dollars wagered.

Move the Line: To pay an additional price on point spread games in order to receive half a point or more in your favor. Also called "Move the Line". Also referred to as "Buy Points".

ML: Money line.
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N

Neutral site: Arena, court or field where neither side has a home field advantage.

Nickel: A $500 bet.

No Action: A wager in which no money is lost nor won.
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O

Odds: The likelihood of the outcome occurring, stated in numbers form.

Off the Board: Game where no bets are being accepted.

One Dollar Bet: a $100 bet. Also referred to simply as "Dollar Bet"

Opening Line: The first line posted for an event.

Out: Bookmaker, usually refers to an illegal bookmaker

Outlaw Line: The first line posted for an event that only a handful of players are allowed to bet into.

Over: a bet that the combined point total of two teams will be above a specified total.

Overlay: When the odds on a proposition are in favor of the bettor rather than the house
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P

Parlay: A bet with two or more teams where all the teams must win for the bettor to be successful.

Past Post: To make a bet after an event has started.

Pick, Pick'em, or PK: A game where neither team is favored.

Player: Bettor, gambler.

Point Spread: The scoring differential between two opponents predicted by a linemaker. When placing a bet on the spread line, the favorite is represented with a minus (-), and the underdog is represented with a plus (+). Also referred to simply as "Spread."

Power Ratings: The strength of a team in comparison to another team.

Practical Hold Percentage: The amount won by a bookmaker divided by the total amount booked

Press: To bet a larger amount than usual

Price: Line

Prop Bet or Proposition Bet: A bet made regarding the occurrence or non-occurrence during a game which does not directly affecting the game's final outcome. An example would be a wager made on which football team will score the first touchdown.

Puck Line: A spread line in hockey where the spread is fixed at 1.5 goals.

Puppy: The underdog.

Push: a bet which results in no winner or loser.
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Q
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R

Round Robin: A series of parlays. A three-team round robin consists of one three-team parlay and three two-team parlays

Rundown: All the curent lines for an specific date, sport, time, etc.

Runner: Messenger bettor; Someone who places a bet for someone else. Can also be called a "Beard"
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S

Scout: A bettor who waits for what he perceives to be an unusually strong wager.

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 or cancel.

Sharp: A perfessional gambler. Also referred to as a "Wise Guy."

Shortstop: A small bettor.

Side: To win one side and tie the other. For example, if you lay -2 1/2 and take 3 on the same game and the favorite wins by 3 you have "Sided" the book. The book has been "Sided."

Sides: The names of the two teams playing, which is the underdog and the favorite.

Single Action: The subsequent selection of an 'If Bet' which is processed if the preceeding selection is a win (Must be a Win).

Sportsbook: A company that accept bets. Can also be referred to as a "Bookmaker" or "Store".

Spread: The scoring differential between two opponents predicted by a linemaker. When placing a bet on the spread line, the favorite is represented with a minus (-), and the underdog is represented with a plus (+). Also referred to as "Point Spread."

Square: An unsophisticated gambler.

Steam: Heavy action on one side resulting in rapid line moves.

Straight Bet: A bet on just one team.

Straight-Up: A bet on a team to win without any regards to the point spread.

Sucker Bet: Bet with a large house edge.
Systems: Using consistent trends from past games to predict future outcomes.
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T

Taking the Points: To bet the underdog and take the points advantage.

Take a Price or Taking the Price: To bet the underdog and accept the money odds.

Tapped Out: Broke, busted, common result of pressing.

Teaser: A special type of parlay in which you adjust the point spread or total of each individual play. The price of moving the point spread (teasing) is lower pay off odds winning wagers.

Theoretical Hold Percentage: The edge the bookmaker would have if the odds guaranteed him a constant commission regardless of the outcome

Ticket: a bet, which got it's name from the ticket you would receive from betting at a sportsbook counter.

Tie: a wager in which no money is lost nor won because the teams' scores were equal to the number of points in the given line. Also called a "Push".

Toke: A tip or gratuity.

Toss Up: Game where the line is close to pick-em.

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

Totals Bet: A bet in which the bettor speculates that the total score by both teams in a game will be more (Over) or less (Under) than the line posted by a bookmaker.

Tout or Tout Service: A person or business that sells opinions on sporting events.

Trends: Using the past to predict the future focusing on one team only.

Triple Service: The sharpest of the sharp, (Note: There is no such term as "Double Sharp")
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U

Under: An under is a wager in which the bettor guesses that the total points scored by two teams will be under the Total posted by a bookmaker.

Under Dog: The team or horse predicted to lose.

Underlay: When the odds on a proposition are in favor of the house.
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V

Value: An overlay

Vigorish: Bookmaker's commission, most often refers to the 11 to 10 football bettors lay on straight wagers. Also called "Juice".
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W

Wager: To risk something on the outcome of a future event. Also called a "bet."

Whale: A bettor that consistently makes very large wagers.

Wise Guy: Established and successful sports bettor. Also called a "Sharp"
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X
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Y
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Z
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