- Action: In sports betting terms, all "action" really means is to have a bet.
Example: Because John was going to the Dodgers game, he placed a bet on the them because he wanted action.
- Angles: Past game results or trends to predict what will happen in the future are considered "angles." There can be hundreds of "angles" out there when handicapping a game.
Example: When researching a teams last 10 games, Corey would look for any angles that could give him an advantage.
- Against The Spread(ATS): Generally this is in reference to how often a team covers the point spread. When you bet "against the spread", you are betting that a team will win or lose within a
particular amount of points(the spread).
Example: The Kansas City Chiefs are 2-14 straight up and 4-12 against the spread.
Example: Jim bet against the spread that the Bears (-3) would beat the Vikings. What this means, is the Bears would have to win by more than 3 points in order for Jim to win his bet.
- Arbitrage: To arbitrage or hedge, is to make a combination of bets that will
eliminate or greatly reduce your risk. This is a very difficult thing to do but there are times when you can arbitrage or hedge a particular game.
Example: John was able to bet the Red Wings at -140 for there game against the Stars. However, when he was
looking at another sportsbook he was able to bet the Stars at +145, thus giving himself an arbitrage.
- Bad Beat: When losing a wager at the very last second due to a hail mary, half
court shot, fluke or any other scoring play that would cause you to lose the bet.
Example: Sam had all but collected his money before suffering a bad beat when the opposing team completed a
hail mary pass to score a touchdown with no time left on the clock.
- Beard: A person that places bets for another person, typically because that person
is not allowed to bet at the sportsbook for one reason or another.
Example: Since Craig was banned from the sportsbook, Vince was used as a beard to make Craig's wagers.
- Bet: To risk money, or anything of value, on the outcome of a sporting event.
Example: Jason made a bet on the Royals to beat the Indians.
- Bet Limit: The maximum bet that a sportsbook will take on a sporting event.
Example: Jake's bet limit for NBA games at ABC sportsbook is $10,000.
- Board: This is where available bets are listed for various sporting events at a
sportsbook.
Example: Since it was just released the QB would not play, the game was taken off the board.
- Book: A person, company, or establishment that accepts bets.
Example: Mark called his book to place a bet on the baseball game.
- Bookie: A person who accepts sports bets, typically used to refer to someone who
accepts bets illegally.
Example: Vinnie called his local bookie to place a bet on the football game.
- Bookmaker: A person, company, or establishment that accepts bets. Most commonly used as "bookie."
Example: Frank placed a bet through his bookmaker.
- Buck: A "buck" is equal to $100.
Example: Jason bet a buck on the Jets.
- Chalk: The team or person that is favored to win a game or event.
Example: Fred loves betting big chalk on home teams.
- Cherry Pick: Only betting games where you think you have a very large advantage.
Example: Since Rob usually cherry picks, he only bets a few times a month.
- Circled: A game that has a lower betting limit usually because of some unknown,
possibly due to weather, injuries, etc.
Example: Because of the unknown status of the QB, the game was circled by bookmakers.
- Cover: The team that wins against the spread.
Example: Although the Bulls lost the game to the Raptors by 8, they still covered the 10 point spread.
- Credit Betting: Betting without having to put the money up front. You only pay if you lose. Typical with a local bookie. Can be very dangerous without a strict money management strategy.
Example: Jim liked credit betting with the local bookie because he only had to pay if he lost.
- Dime: A "dime" is equal to $1000.
Example: Since money wasn't an issue for Tony, it wasn't unusual for him to bet a dime on an NBA game.
- Dime Line: The difference between the favorite and the underdog when the
moneyline is only 10 cents (Dodgers -140; Reds +130). Most of the time a sportsbook will charge a 20 cent line. Smart
bettors look for dime lines.
Example: Joe always put in the time to find sportsbooks that offer dime lines on baseball.
- Dog: The team or individual that is expected to lose.
Example: Stan loves to bet on NFL teams that are dogs when playing at home.
- Early Line: The first line posted for a game.
Example: Brett always bets the early line since he feels he can get an advantage.
- Early Money: Bets that are placed as soon as the lines are released to the
public.
Example: Steve always liked to see what team the early money came in on before placing his bets.
- Edge: An advantage when placing a bet.
Example: Craig will spend hours researching trying to find an edge.
- Even Money: Risking the same amount to win the same amount. Not paying
juice for a bet. Odds are typically bet 11 to win 10.
Example: Larry bet $20 to win $20 on the Royals, since it was an even money wager.
- Exotic: Not the traditional side or total bet. Examples are teasers, parlays,
etc.
Example: Shawn liked to bet exotics on the NBA.
- Fade: To bet against a particular handicapper or person.
Example: Since John was such a horrible bettor, his friends loved to fade his picks.
- Favorite: The team or person expected to win the game or event.
Example: Harold always likes to bet on home team favorites.
- First Half Bet: Betting on a game where the result is determined by the halftime score.
Example: Arnold liked to place first half bets on NCAA basketball games.
- Futures: Bets placed in advance of the actual sporting event.
Example: Greg placed a futures bet that the Rams would win more than 7 games in the regular season.
- Gamble: To risk money or anything of value on the outcome of a sporting event.
Example: Kirk loved to gamble on Major League Baseball.
- Halftime Bet: To place at bet at halftime of a sporting event. New lines are
posted for the second half once the first half is complete.
Example: Sampson would always make a halftime bet if he was at the game.
- Handicap: To research and analyze a sporting event with the possibility of placing a bet.
Example: George would spend hours handicapping games in the NFL.
- Handicapper: A person who handicaps or researches and analyzes sporting events with the possibility of placing a bet.
Example: Because Nathan spent hours researching games, he was known to his friends as a very knowledgeable handicapper.
- Handle: The total amount of money taken by sportsbooks from placed bets.
Example: The handle from game 7 of the NBA finals was over 100 million dollars.
- Hedge: To bet the opposite of your original bet in order to offset a loss or to guarantee a profit no matter how small.
Example: Hedging is normally done for defensive purposes. If you bet a 5 team parlay and the first four teams have already covered then you may want to bet the opposite on the last game to guarantee a profit.
- Hook: A half point in a point spread.
Example: Vick had the Lions at +6.5 but they ended up losing 28-21, losing by the hook.
- If Bet: The linking together of two or more bets. A bet that's placed only if the
outcome of another bet has occurred. You placed $100 on Team B if Team A covers the spread. If Team A covers then the $100 bet on Team B is placed. If Team A doesn't cover then the bet on Team B is canceled.
Example: George placed an if bet on the Patriots monday night but the Eagles first needed to cover on Sunday night.
- Juice: The amount charged by bookmakers on losing bets, basically the bookmakers
commission.
Example: Most of the time the juice on a football game is -110 meaning you would risk $110 to win $100.
- Laying: Betting on the favorite in a sporting event. You are laying or giving points to bet on a favorite.
Example: Dwight didn't mind laying 20 points to bet on Duke against Holy Cross.
- Line: The same thing as the point spread. If the Bulls are favored by 8 points then the line is -8.
Example: The line on the Jets game is -7. If you were to bet on the Jets -7 then you would need the Jets to win by at least 8 in order for you to win your bet.
- Linesmaker: The person or establishment that sets the point spread or odds for a particular sporting event. A linesmaker sets the odds while a bookmaker takes bets. They are two separate entities.
Example: The linesmaker released the Giants as 3 point underdogs.
- Longshot: A large underdog that isn't expected to win.
Example: The Giants were a longshot to win the Super Bowl against the Patriots in 2008.
- Middle: When placing a bet on the same game but betting on both teams and having the possibility of winning both bets.
Example: Ed placed a bet on the Raiders against the Chargers at +9 on Monday. When he looked at the spread on Friday, the Chargers were now only favored by 6. He placed a bet on the Chargers -6 trying to middle the game.
- Money Line: Betting on the straight up winner of a game, not against the spread.
Example: The money line on the Padres was -200 against the Giants. This means you would need to wager $200 to win $100 if you were to bet on the Padres.
- Nickel: A nickel equals $500.
Example: Jim always bets a nickel on games he really likes.
- Odds: Refers to the lines, point spreads, money lines, etc. of sporting events.
Example: First thing in the morning, Ish always liked to look at the odds of all the games for the day.
- Oddsmaker: The person or establishment that sets the point spread or odds for a particular sporting event. An oddsmaker sets the odds while a bookmaker takes bets. They are two separate entities.
Example: The oddsmaker released the Giants as 3 point underdogs.
- Off the Board: A game where bets are no longer being accepted. It could be because of an injury to a key player or due to weather.
Example: Curt wanted to bet on the Texans but the game was taken off the board because of the injury to the QB.
- Online Sportsbook: A sportsbook that accepts bets over the internet.
Example: Online sportsbooks are typically the easiest way to bet on sports because of easy access.
- Opening Line: The first line offered by a sportsbook.
Example: Chris bet the opening line just in case it moved in the opposite direction from what he wanted.
- Over: To bet that the total amount of combined points will go above the over/under(total) listed for a particular game.
Example: The total points scored in the Spurs/Mavericks game was 235, easily going over the total that was set at 201.
- Over/Under: A bet that's made on the combined score or total points scored by both teams.
Example: The over/umder for the Cubs/Cardinals game was set at 8.5.
- Parlay: A combination of two or more bets that are linked together and all of the bets must win in order to win the parlay bet. There are higher payouts for a parlay because you must win all of your bets. If one bet loses then you lose your parlay.
Example: Jon bet a 3 way parlay on the Bears, Rams, and Vikings. He must win all three wagers in order to win. This type of parlay pays 6 to 1 odds.
- Past Post: To place a bet after the game/race has started. Most of the time this term is used in horse racing.
Example: James noticed a past post and tried to bet it, but the online sportsbook realized it and canceled his bet.
- Pick'em: A game where neither team is favored.
Example: Since the Seahawks and Cardinals were very evenly matched, the game was listed as a pick'em.
- Point Spread: The line that is placed on a game from an oddsmaker. If the Lakers are favored by 15 points over the Jazz, then the point spread is 15. If you bet on the Lakers, they must win by 16 or more points in order for you to win your bet. If you bet on the Jazz, they must lose by 14 or less points in order for you to win your bet. If the Lakers win by 15 points then the game is a push and you neither win nor lose.
Example: The point spread on the Bucks game was set at 6.
- Power Ratings: A number that a handicapper assigns to teams to determine how good or bad one team is and can be used to determine who will win and by how many points.
Example: Lawrence always checks the power ratings when handicapping a game.
- Press: Betting more money than you normally would in hopes of recouping losses. DO
NOT PRESS, STICK TO YOUR MONEY MANAGEMENT PLAN.
Example: After losing all his games during the week on baseball, Ryan began to press on Saturday.
- Price: The odds or money line placed on a sporting event.
Example: The price of the A's was +180, meaning you would bet $100 to win $180.
- Proposition/Prop Bets: Exotic bets that are placed on things happening during a game, such as team to score first, team to make the first field goal, team to score first touchdown, etc. The bigger the game (Super Bowl) the more prop bets are listed.
Example: There can be hundreds of prop bets on the Super Bowl.
- Public Money: Bets that are being placed by the general public or unknowledgeable bettors.
Example: Fred always liked to bet against the public money since they are usually wrong.
- Puppy: The team that is expected to lose or another name for underdog.
Example: Evan prefers to bet the puppy in NFL games.
- Push: Refers to a wager where you neither win nor lose. A tie.
Example: The Bengals were favored by three and ended up winning by three therefore resulting in a push for all bets placed on the side for that game.
- Revenge Game: A team playing an opponent that they lost to in there previous game.
Example: Since the Tigers lost to the Indians the last time they played, when they play again, it will be a revenge game for the Tigers.
- Reverse: Two separate bets on the same two teams. If you place a two team reverse wagering $50, you can win $200 if both games win, but will lose $60 if one game losses or $110 if both games lose.
Example: Grant bet a $50 reverse with the Dolphins and Bucaneers.
- Reverse Teaser: A bet where the line is moved to the bettors disadvantage in exchange for a larger payout.
Example: The Texans line was -3 but Brent used a 7-point reverse teaser to move the line up to -10 because he really felt the Texans would win big.
- Round Robin: A series of parlays. A three team round robin consists of one three team parlay and three two-team parlays.
Example: A three team round robin consisting of the Giants, Jets, and Lions would look like this; three team parlay on the Giants/Jets/Lions and two team parlays on the Giants/Jets, Giants/Lions, and Jets/Lions.
- Rundown: A list or update of the odds/lines for all the days games.
Example: Max always calls his bookie at 11:00am to get a rundown of the days games.
- Run Line: Referred to in baseball betting in which you take the underdog at +1.5 or
the favorite at -1.5.
Example: Kyle likes to bet the run line on heavy favorites to avoid paying a lot of juice just in case his bet loses.
- Sharp: An intelligent, knowledgeable sports bettor.
Example: Because of his superior track record in betting football, Earl was considered a sharp.
- Shill: Someone who promotes a betting service or sportsbook in exchange for compensation.
Example: Sports betting services use shills to promote there services.
- Side: To bet on a team to win a game against the spread.
Example: Brett only bet sides on games, staying away from totals, teasers, and parlays.
- Smart Money: Money bet by smart bettors/sharps.
Example: When handicapping a game, Ralph always tried to find the smart money before placing a bet.
- Sportsbook: A person or company that accepts bets.
Example: Will made all his bets through an online sportsbook.
- Square: An unsophisticated bettor who uses the same information as everybody else and always ends up losing in the long run.
Example: Bill trys to stay away from games that squares are betting on.
- Steam: A sudden influx of money all coming in on the same side or total causing the
line to move.
Example: Sid trys to find steam plays even though he knows there's really no advantage.
- Straight Up: The winner of a game without regard to the point spread.
Example: The Broncos beat the Cowboys thus winning straight up.
- Syndicate: A group of bettors that use there knowledge in an attempt to win money at betting sports.
Example: Working with a syndicate can give you an advantage when betting on sports.
- Systems: Using specific formulas from past events to determine who to bet on in a game. The assumption is that using these past situations will help predict what will happen in the future.
Example: There are hundreds of systems that can be applied to various situations.
- Teaser: A bet that involves wagering on two or more teams where all teams must cover in order for you to win the bet. However, with a a teaser, you can adjust the point spread in your favor but will not get favorable odds like in a parlay.
Example: Nick liked playing teasers on NFL games.
- Total: A bet that's made on the combined score or total points scored by both teams.
Example: Adam bet that the the total in the Jazz/Hornets game would go under 199.
- Touts: Someone who sells his picks on sports.
Example: The tout was selling his "Game of the Month" on Monday.
- Trends: Using past results to predict future results. How specific situations
affect a team. Using those specific situations to determine future results.
Example: When handicapping a game, Ron would always try to find specific trends that could give him an advantage.
- Under: To bet that the total combined score will go below the total (over/under) set for the game.
Example: Felix loves to bet the under when two strong defensive teams play.
- Underdog: The team or person that's expected to lose.
Example: The Cleveland Browns were a 14 point underdog when playing the Patriots.
- Upset: When the underdog defeats the favorite.
Example: Since the Chiefs were a 10 point underdog against the Chargers, when they beat them straight up, it was considered an upset.
- Vigorish(Vig): The commission that the bookmaker collects when you lose a bet.
Example: The normal vig on a bet is -110, meaning you bet $110 to win $100.
- Wager: To risk money or anything of value on a sporting event.
Example: Nathan placed a wager on the Bills to beat the Giants.
- Wiseguy: A successful or knowledgeable bettor that has access to inside information.
Example: Zack was known as a wiseguy because of the contacts he had in the NFL.
