Understanding Sports Betting Terms

Sports Betting Terms

Action - Is normally known as having money in a game (bet), but when you wager on baseball and you choose action, it means that you don't mind which pitchers are starting the game.

Bad Beat - Tough loss

Balance - To have equal action on either side of a game.

Beard - Messenger bettor. This is a person betting on another's behalf, often to conceal the identity of the actual bettor.

Beef - Dispute

Buck - $100

Chalk - The favorite

Chalk Eater - A player who wagers in the favorite.

Churn - The effect of betting and re-betting money

Circle Game - Game where action is limited due to uncertainties about weather, injuries, etc.

Cover - in by more than the point spread

Degenerate - a person with a gambling problem.

Dime - $1000

Dog - The underdog or team expected to lose.

Dollar - $100

Earn - Practical hold percentage

Edge - Advantage

Exotic Bet - Action other than a straight bet or parlay

Favorite - The team expected to win.

Figure - Amount owed by or to a bookmaker
Get Down - Make a bet

Gross Win - Win before expenses

Handicapper - One who studies sports and predicts outcomes.

Handle - Total amount of bets taken or total betting volume.

Hedge - Bet the opposite of your original wager in order to reduce the amount of action you have on a game

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 the familiarity with the arena and effect of travel on the visiting team.

Hoops - Basketball

Hot Tip - Information the bookmaker is not yet privy to

Juice - Bookmaker's commission, most often refers to the -110 football bettors lay on straight wagers; also the vig or vigorish

Lay Off - To bet make bet on a game to reduce the exposure or risk. A bookmaker who has accepted too much action on one side of an event may lay off by placing a wager with another bookmaker to ensure that he is not over exposed.

Lay A Price - Bet a favorite, lay the points

Limit - Maximum bet accepted by the house before the price will be changed

Line - The betting proposition on a game and/or payoff odds on the bet

Long Shot - Large underdog

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.

Minus Pool - In pari-mutuel wagering, when after the take is extracted, there is not enough money left to pay winning patrons the minimum bet. The track must then make up the difference

Mutual - Price paid on a winning pari-mutuel wager

Neutral Site - Arena, court, or field where neither side has a home field advantage

Nickel - $500

Off The Board - Game where no bets are being accepted

Out - Bookmaker, usually refers to an illegal bookmaker Overplay - When the odds on a proposition are in favor of the bettor rather than the house

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 or Pick’em - A game where neither team is favored

Player - Bettor or gambler

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

Puppy - Underdog

Push - A tie

Round Robin - A series of parlays. A three team round robin consists of three two-team parlays.

Rundown - Line update

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 odds.

Score - To win a lot of money

Scratch - Withdraw; cancel

Sharp - Wise guy

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.

Square - Recreational gambler

Steam - Heavy action on one side

Straight Bet - A bet on just one team against the spread.

Sucker Bet - Bet with a large house edge

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

Toss Up - Game where the line is close to Pick’em

Tout Service - A business that sells opinions on sporting events

Underlay - When the odds on a proposition are in favor of the house

Value - An overlay

Vigorish - Often called the Vig or Juice

Wise Guy - Established and successful sports bettor