Daily
Double: A horse racing bet where a player must
pick the horses to win each of 2 designated races.
Dead Heat: When two horses finish in a tie.
Dime bet: A $1000 wager.
Dog: The team perceived to be most likely
to lose. Underdog.
Dog Player: Some who usually bets on the
underdog.
Dollar Bet: A $100 wager.
Double Action: An "if bet" that
is processed if the precedent bet wins, ties or
cancels.
Edge:
An advantage.
Even Money: A wager on which neither side
lays any odds or vigorish. The odds are 1/1.
Exacta: A player must select the two first
horses on a race to win.
Exotic Wager: A bet posted for customer accommodation
such as first half, second half, futures, run lines
or money line wagers.
Exposure: The amount of money the house will
risk losing on a game or race.
Favorite:
The entry expected to win an event. The odds
reflect the extent to which the choice is favored.
Filly: A female horse aged 4 or under.
Fifty Cents: $50.00.
Final Four: Remaining four college teams
from a field of 64. They meet to determine the National
Champion.
First Half Wager: A bet placed on only the
first half of a game.
Four Majors: Golf's Most Prestigious events:
the Masters, the US Open, PGA in the US and the
British Open.
Furlong: A unit of distance used in horse
racing equal to 1/8 or a mile or 220 yards.
Futures: Odds posted on an event or outcome
taking place some time in the future,such as the
Super Bowl, World Series, the Stanley Cup, and the
NBA Championship.More Info
Gross
Win: The amount of winnings before subtracting
the expenses.
Grand Slam: The four most important tournaments
in tennis: the Australian Open, The French Open,
The US Open, and Wimbledon.
Grand Salami: The grand total of goals scored
in all the hockey games of the day. It can be wagered
to go Over/Under.
Half
A Dollar: $50.00.
Half Time Bet: A bet placed only on the second
half of the game. ( Includes Overtime).
Handicapper: One who studies and rates and
wagers on sporting events/races.
Handicapping: The attempt to predict the
outcome of sporting events.
Handle: The total amount of bets taken.
Hedging: Placing bets on the opposite side
in order to cut losses or guarantee winning a minimal
amount of money.
Hold: The percentage the house wins.
Home Team: The team playing in it's own
town.
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.
Hook: A half point in pointspreads.
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.
In
The Money: In horse racing, a horse that finishes
first, second, or third.
Juice:
The bookmaker's commission, also known as vigorish.
Laying
the points: Betting the favorite by giving up
points.
Laying the price: Betting the favorite by
laying money odds.
Limit: The Maximum amount a bookmaker will
allow you to bet before he changes the odds and/or
the points.
Lines: The current odds or point spread on
a particular event.
Linemaker: The person who establishes the
original and subsequent betting lines.
Listed Pitchers: In baseball wagering, a
bet which will be placed only if both of the pitchers
scheduled to start a game actually start. If they
don't the bet is cancelled.
Lock: A sure winner.
Longshot: A team or horse that is perceived
to be unlikely to win.
Mare:
A female horse aged 5 or more.
MLB: Major League Baseball(divided into 2
leagues: the National and the American).
Middle(s): To win both sides of the same betting
proposition. Betting the favorite team at -2 1/2
with one bookmaker and then taking +3 1/2 with another
bookmaker. The game ends up with the favorite winning
by exactly 3 points, you have then "middle
the game". A favorite betting method of "wise
guys".
Money Line: Odds expressed in terms of money.
The amount you must bet to win 100 or the amount
you win if you bet 100. Whenever there is a (-)
minus you lay that amount to win a hundred dollars,
where there is a plus (+) you get that amount for
every hundred dollars wagered. More
Info....
Move The Line: A player pays an additional
price to receive half a point or more in his favor
on a point spread line.
MVP: Most Valuable Player. Leagues give MVP
Awards to the best regular-season and to the outstanding
player in championship games or series.
NBA:
National Basketball Association.
NCAA: National Collegiate Athletic Association.
NFL: National Football League.
NHL: National Hockey League.
Neutral Site: Venue of a sporting event where
neither side has a home field advantage.
Nickel: A $500 wager.
Nickel Line: A line where the juice is 5%.
No Action: A bet in which no money is won
or lost.
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 Lines: The line that the bookmaker
uses for wagering purposes.
Overlay: When the odds of a given propositon
are more in favor of the bettor than the house.
Over/Under: The Over/Under, (aka-totals),
this type of bet is very simple. Calculate the combined
scores of both teams competing in the game being
wagered on. You bet whether the total score will
be over or under the expected total.
Parlay:
A bet with two or more teams in which all teams
must win or cover for the bettor to win and receive
higher payouts. More Info....
Past Post: To make a bet after the event
has begun.
Perfecta: In horse racing, a wager in which
the player selects the two horses in a race to finish
in 1st and 2nd places in exact order.
Pick'em Game: A game where no team or betting
option is favorite. Also called pick.
Place: A horse racing wager in which you
collect if your horse finishes first or second.|
Pleasers:
A pleaser is a group of NFL side straight bets combined
into one bet.More Info.
Pointspread: The handicap, or head start,
which the favorite gives to the underdog for betting
purposes.More Info...
Post Time: The scheduled starting time.
Press: To bet a larger amount than usual.
Price: The odds or pointspread.
Puckline: Giving odds of a goal spread instead
of using the Canadian line, where both a goal spread
and moneyline are played.
Push: A game which, with the pointspread,
is tied or when the combined scores of the two teams
ties the total.
Proposition Bet: A wager on a particular
aspect of the game such as how many field goals
will be made. More
Info...
Quinella:
In horse racing, a wager in which the player selects
the two horses in a race to finish in 1st and 2nd
places in either order.
Rained
Out: A game cancelled due to weather.
Reverse: In horse racing, to ask for a second
exacta wager which specifies two horses in reverse
order of the first exacta wager.
Round Robin: A series of three or more teams
in 2-team parlays.
Run Down: A line update. All the lines for
a specific date, sport, time, etc.
Run Line: In baseball, a spread used instead
of the money line.
Scratch:
In horse racing, a horse that has been withdrawn
from a race before the start. Wagers on this horse
are refunded.
Show: A horse racing bet in which you collect
if the horse finishes first, second, or third.
Sides: The names of the two teams playing:
the underdog, and the favorite.
Sided: When one side of a betting proposition
wins and opposite side ties.
Single: A bet on a single result or outcome.
Single Action: An "if bet" that
is processed only if the precedent bet wins.
Spread: An abbreviated form of point spread.
Square: Unsophisticated Gambler.
Stanley Cup: Championship of Hockey. Best
of Seven Series between the Eastern and Western
conference champions in the NHL.
Straight Bet: A bet on just one team. More
Info....
Sucker Bet: Betting on The Underdog.
Super Bowl: NFL Championship game.
Taking
the points: Betting the underdog and its advantage
in the point spread.
Taking the price: Betting the underdog and
accepting money odds.
Teaser: A bet on 2 or more teams where the
line on each team is adjusted in the favor of the
bettor by a fixed number of additional points. Like
a Parlay, all selections must be correct for the
teaser to win. More Info...
Ticket: A Wager.
Tie: A bet in which no money is lost nor
won because the teams' scores were equal to the
number of points in the given line.
Toss Up: A game where the line is close to
a pick-em.
Total: The combined number of points/goals
scored by the two teams during the game, including
overtime.(see over/Under).
Totals Bet: A bet in which the bettor speculates
that the total score by both teams in a game will
be more or less than the line posted.
Trifecta: A horse racing bet in which a player
selects three horses in one race to finish first,
second, & third in exact order.
Under:
A sports bet 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.
Value:
Getting the best available odds on a betting proposition.
Vigorish: The commission paid to the bookmaker.
Wager:
Any Bet.
Win: A horse racing wager in which you collect
if your horse finishes first.
Wise Guy: A well-informed and knowledgeable
handicapper or bettor.
World Series: Championship of Major League
Baseball.
Pointspread
The point spread (aka-"the spread",
or "the line") - is used as a margin to
handicap the favourite team. The odds maker - also
called the 'handicapper' - adds points (or goals)
to the underdog to even out the odds. The bettor must
take either the favourite or the underdog with their
respected margin of handicap. The favourite loses
pts (eg. -2.5), and the underdog gains pts. (eg. +2.5).
You can determine who is the underdog and who is the
favourite because the favourite will be followed with
a minus sign (-) and the underdog will be followed
with a positive (+) sign.
To determine the winner, look at the final score of
the game and find the margin of victory. If the favourite
wins, and wins by more than the spread (eg. Spread
is -2.5, Score is 104-100 for the favourite, he wins
since he won by a margin greater than 2.5 pts.), he's
a winner. If the underdog loses by less than 2.5 points,
the underdog is the winner. If the underdog loses
by more than 2.5 points, he loses the bet.
If the "line" is put in at a half point
(e.g. -5.5 for the favourite Orlando) by the odds
maker then there can be no "push." In this
case, there is "action" at any final game
score point spread. In a point spread, you must wager
$110 to win $100 ($210 is returned to the winner).
10/11 is the standard for point spread bets at most
sportsbooks.
Straight
Bet
A straight bet is a bet on the outcome
of a single event or game that, for betting purposes
only, is determined by a Point spread, a Money line
or a Game Total.
The team or event wagered on must win by the posted
odds. A single bet may be a play on the side to win,
the total, or even a proposition or future bet. All
single bets must lay 110 to win 100 unless otherwise
noted at the time of the wager (some sportsbook or
bookie promote different odds). Games that end in
a tie are no action or push bets, in which case the
money is refunded. The odds may fluctuate at anytime
as they move with the adjustments made by the odds
makers. But once your money is placed on a team or
event at a specified point spread or game total, the
odds can no longer change for your bet.
Example:
If the money line were -145 then you would wager $145
to win your $100 bet. If the money line is a positive
number then you will wager $100 to win the money line.
If the money line were +145 then you would wager $100
to win $145.
Money
line Bet
A money line is offered when no handicap
is given, such as a point spread or runline, and the
odds are not therefore fixed. Payouts are then based
on true odds rather than fixed odds. The favourite
and underdog are given odds to win a game or fight.
The minus sign (e.g.-130) always indicates the favorite
and the amount you must bet to win $100. The plus
sign (e.g.+120) always indicates the underdog and
the amount you win for every $100 bet. Therefore based
on the above moneyline, you bet $130 to win $100 on
the favourite. For the underdog, you win $120 for
every $100 bet
Futures
This bet applies to Football, Basketball, Baseball,
Ice Hockey, Golf and any other sporting event being
played in the near future. Futures are a single wager
on the outcome of an event that will be determined
sometime in the future.
Example:
You pick St. Louis Rams to win the
Super Bowl. The odds given are 5/1. Therefore you
wager $1 and receive $5 if St. Louis wins the Super
Bowl. Future odds change continuously throughout the
season (Odds may fluctuate due to result leading up
to the event). Futures bets offer attractive (high)
odds to the bettor, but it must be noted that attractive
odds are high due to low probability.
Teasers
This bet applies to Football, Basketball,
Ice Hockey and Baseball. A teaser is a selection of
two or more teams in one wager in which either the
point spread and/or total is adjusted in the bettor's
favour. Each sport has its own range of points for
teaser selections. An adjustment to the favourite
team will decrease the disadvantage. An adjustment
to the underdog will increase the advantage. The adjustment
makes point spreads less for the favourite and more
for the underdog, depending on the selections you
make. If you select a total, the adjustment makes
totals higher-to-go-under or lower-to-go-over.
Examples:
Oakland Raiders (-6) teased by 8 points:
Oakland is +2 with the Tease.
Miami Dolphins (+4) teased by 6 points: Miami is +10
with the Tease.
NY Jets and St. Louis Rams (42 pts.) teased by 4 points:
38 pts. for the over Total
Parlay
or Combo
This bet applies to Football, Basketball,
Ice Hockey and Baseball. A parlay bet is when you
bet on two or more teams in the same wager in any
order. All teams bet on must win in order for you
to win. Also, there is no "juice" or commission
on this style of bet.
Your wager may combine different sports along with
different styles of bets (i.e. over/under, point spread,
etc.) In the parlay style bet your original winnings
are invested back into the next game. If one of your
games is cancelled or ties, the parlay drops to the
next lowest number.
Propositions
Proposition bets are offers and conditions
chosen by the sportsbook or bookie. These bets can
be trivial bets like which team will score the most
points in the 1st quarter, which team will shoot the
most three pointers, which running back will rush
for the most yards, etc. Most proposition bets are
offered at 11-10 odds, but some of the more outrageous
bets will be offered at better or worse odds, depending
on the bet.
Pleasers
A pleaser is a group of NFL side straight
bets combined into one bet. The difference between
a pleaser and a teaser is that with a pleaser the
line you bet against for each individual wager is
moved against your favour by 6 points. These are not
as common for other sports other than NFL. If the
regular line is -5 and you play a pleaser then your
line would be -11.
Examples:
Odds: Colts (-7) over Cowboys
Ravens (-3) over Browns
A "Two Team Pleaser" on the Colts and Ravens
would be:
Colts (-13) and Ravens (-9)
A "Two
Team Pleaser" on the Cowboys and the Browns would
be: Cowboys (+1) and Browns (-3) (Cowboys were +7,
+7 - 6= +1, Browns were +3, +3 - 6= -3)
Most of
these bets are a little risky until you understand
them well. I advise you to make some "test bets"
(Bets without money) yourself to see how good you
are at picking a winner. For gamblers who want to
keep it simple, I would stick with point spreads,
straight bets, and over/under bets since these give
you very reasonable odds. When you begin betting on
parlays and pleasers your odds are greatly reduced.
Overall, test yourself and do your homework.
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