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Thread: Sports Betting Term Glossary ..........

  1. #1 Sports Betting Term Glossary .......... 
    Super Moderator Betallsports's Avatar
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    A

    ACTION A type of baseball bet
    ATS Against the spread


    B

    B.R. Bankroll
    BAD BEAT Tough loss
    BEARD Messenger bettor
    BEEF Dispute
    BUCK $100

    CHALK Favorite
    CHALK EATER Favorite bettor
    CHURN The effect of betting and re-betting money
    CIRCLE GAME Game where action is limited due to uncertainties about weather, injuries, etc.
    COVER Win by more than the point spread


    D

    DEGENERATE Compulsive gambler
    DIME $1,000
    DOLLAR $100


    E
    EARN Practical hold percentage
    EDGE Advantage
    EXOTIC BET Action other than a straight bet or parlay.
    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.


    F

    FIGURE Amount owed by or to a bookmaker.
    FIRING Betting a lot. A player who is "firing" is wagering large sums.
    FLEA An annoying human parasite who wants something for nothing; a $2 bettor who expects to be rewarded for his action.
    FORM What performance is to be expected according to how a team looks on paper.


    G

    GET DOWN Make a bet
    GROSS WIN Win before expenses


    H

    HANDICAPPER One who studies sports and predicts outcomes.
    HANDLE Total amount of bets taken.
    HEDGE Bet the opposite of your original wager in order to reduce the amount of action you have on a game.
    HOLD The percentage the house wins.
    HOOK Half point in pointspreads, 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 TIP Information the bookmaker is not yet privy to.


    J

    JUICE Bookmaker's commission, most often refers to the 11 to 10 football bettors lay on straight wagers; vigorish.


    L

    LAY A PRICE Bet a favorite, lay the points.
    LAYOFF BET A wager made by one bookmaker with another to help balance his action and reduces his risk on one side or one horse.
    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.
    LONGSHOT Large underdog


    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.

    N

    NEUTRAL SITE Arena, court or field where neither side has a home field advantage.
    NICKEL $500


    O

    OFF THE BOARD Game where no bets are being accepted.
    OUT Bookmaker, usually refers to an illegal bookmaker.
    OVERLAY When the odds on a proposition are in favor of the bettor rather than the house.


    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 OR PICK'EM A game where neither team is favored.
    PLAYER Bettor, 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 Tie


    R

    ROUND ROBIN A series of parlays. A three-team round robin consists of one three-team parlay and three two-team parlays.
    RUNDOWN Line update
    RUNNER See Beard


    S

    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; cancel
    SHARP 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.
    SQUARE Unsophisticated gambler.
    STEAM Heavy action on one side.
    STRAIGHT BET A bet on just one team.
    SUCKER BET Bet with a large house edge.


    T

    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.
    TOKE A tip or gratuity.
    TOSS UP Game where the line is close to pick-em.
    TOUT SERVICE A business that sells opinions on sporting events.
    TRIPLE SHARP The sharpest of the sharp. (Note: There is no such term as "Double Sharp").


    U

    UNDERLAY When the odds on a proposition are in favor of the house.


    V

    VALUE An overlay
    VIGORISH See Juice

    W

    WISE GUY Established and successful sports bettor.
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  2. #2  
    Super Moderator Betallsports's Avatar
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    What does ATS mean?
    ATS stands for 'against the spread'.


    What does SU stand for in stats?
    SU in our stats page stands for straight-up win.


    What exactly is the 'moneyline'?
    Betting lines are based on money value. Imagine using a unit wager of $100 for our example.


    If Boston is listed as -165 over Tampa Bay and you wanted to bet on Boston - you would then risk $165 to win $100 - since you are betting the favorite.

    If you wanted to bet on Tampa you would risk $100 to win $155 - since they are the dog. The $10 difference is called the juice.

    Why do sportsbooks change their lines?
    A line moves because the book is trying to balance out the money being laid on either side. If the public favors one team too much, the line moves to attract support to the other team.


    If you see a line move significantly, the public may be responding to a situation you are not aware of, like a suspension. Or it might simply be one team is overly popular.

    What does the over/under ('total') mean?
    Sportsbooks set a 'total', which is the predicted number of points the teams will score combined. You can bet on whether you think the actual outcome of the game will fall 'under' the predicted 'total', or 'over' it.


    What does 'juice' mean?
    Juice, also known as the 'vigorish' or simply 'vig', is the commission that sportsbooks collect for taking your bet. In a perfect world the action on both sides of each game would be evenly split, and the books would use the monies collected from the losing bets to pay the winning ones. The difference (juice or vig) goes to the house. The norm is around 10-percent for most side and total bets.


    What is a 'teaser'?
    Teasers are made up of multiple selections in which the odds have been ‘teased’ in the bettor’s favor. The bettor can increase the odds of winning at a lower rate of return. Teasers are used in ATS betting and you can either tease the underdog (take more points) or tease the favorite (lay less points).


    Can you explain how hedging a bet works?
    Hedging is to reduce the amount of risk by wagering on the opposite side of a previous bet. If the situation presents itself, a bettor can guarantee a lower rate of return by betting the other side (or hedging) of a previously placed wager.


    What is a 'parlay'?
    A parlay is a one bet ticket with at least two separate wagers on it. All bets on the ticket must win for you to cash in. If you lose any of the games on the ticket; it’s a loser. The point of betting parlays is to increase the payout, however with that also comes a greater risk of losing.

    What is a 'round robin'?
    A Round Robin wager allows a player to pick between 3 - 5 outcomes and create all the possible 2 or 3 team parlays from the selected outcomes. So, for example, if you pick a five-team, three-play Round Robin, 10 three-team parlays will be created.


    Feel free to add any legitimate sport gambling term in a post in this thread and I will add them to the master post #1.
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  3. #3  
    Super Moderator Betallsports's Avatar
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    Stiff - Someone to avoid.Doesnt pay their debts.

    Fade .... meaning to bet against someone else's picks cause you think he's gonna lose (or has been on a losing streak)

    Buy Points - A bettor can pay an additional price to receive points in his favor on a point spread game.

    Dog - Short for underdog; the team not expected to win

    Laying the points - Betting the favorite on the point spread

    Puckline - Point spread for hockey games

    Straight Up - Betting on the moneyline or betting on a team to win outright, regardless of point spread

    Patent - A Patent consists of 7 bets involving 3 selections in different events. The bet includes a single on each selection, plus 3 two teamers and 1 three teamer.
    Predominately used by European soccer bettors.

    bridge jumper -a person who bets heavy money to show on big favorites at the track
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  4. #4 From Poster, The Saint 
    Super Moderator Betallsports's Avatar
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    here are some other type of bets you prolly never heard of:

    An example of the Patent

    The Patent is the perfect bet if you have 3 selections. It consists of 7 bet combinations:

    * A Single bet on each of the three selections = 3 bets
    * A bet on each of the 3 possible 2 Play Parlay/Doubles = 3 bets
    * A 3 Play Parlay/ Treble combining all three of your selections = 1 bet

    Example:

    A $5 Patent on my 3 selections would cost $35.00, at least 1 selection must win to earn a return.

    Liverpool $6.00 (+500), Philadelphia Eagles $6.00 (+500) and Tiger Woods $6.00 (+500)

    * 3 x singles @ $5 =$15.00
    * 3 x 2 Play Parlay/Doubles @ $5 =$15.00
    * 1 x 3 Play Parlay/Treble @ $5 =$5.00

    Total Cost =$35.00

    In this example, any one winner returns $30 (1 single). Any two winners return $240 (1 double, 2 singles). All three winners return $1,710.
    Multiple Bet Types Rules

    The Trixie

    4 bets consisting of 3 selections from different events

    * 3 x 2 Play Parlay/Doubles
    * 1 x 3 Play Parlay/Treble

    At least 2 selections must win to earn a return.

    The Patent

    7 bets consisting of 3 selections from different events:

    * 3 x Singles
    * 3 x 2 Play Parlay/Doubles
    * 1 x 3 Play Parlay/Treble

    At least one selection must win to earn a return.

    The Yankee

    11 bets consisting of 4 selections from different events:

    * 6 x 2 Play Parlay/Doubles
    * 4 x 3 Play Parlay/Trebles
    * 1 x 4 Play Parlay/4 Fold

    At least 2 selections must win to earn a return.

    The Lucky 15

    15 bets consisting of 4 selections from different events:

    * 4 x Singles
    * 6 x 2 Play Parlay/Doubles
    * 4 x 3 Play Parlay/Trebles
    * 1 x 4 Play Parlay/4 Folds

    At least 1 selection must win to earn a return.

    The Super Yankee

    26 bets consisting of 5 selections from different events:

    * 10 x 2 Play Parlay/Doubles
    * 10 x 3 Play Parlay/Trebles
    * 5 x 4 Play Parlay/4 Folds
    * 1 x 5 Play Parlay/5 Folds

    At least 2 selections must win to earn a return.

    The Lucky 31


    31 bets consisting of 5 selections from different events:

    * 5 x Singles
    * 10 x 2 Play Parlay/Doubles
    * 10 x 3 Play Parlay/Trebles
    * 5 x 4 Play Parlay/4 Folds
    * 1 x 5 Play Parlay/5 Folds

    At least 1 selection must win to earn a return.

    The Heinz

    57 bets comprising 6 selections from different events:

    * 15 x 2 Play Parlay/Doubles
    * 20 x 3 Play Parlay/Trebles
    * 15 x 4 Play Parlay/4 Folds
    * 6 x 5 Play Parlay/5 Folds
    * 1 x 6 Play Parlay/6 Folds

    At least 2 selections must win to earn a return.

    The Lucky 63

    63 bets comprising 6 selections from different events:

    * 6 x Singles
    * 15 x 2 Play Parlay/Doubles
    * 20 x 3 Play Parlay/Trebles
    * 15 x 4 Play Parlay/4 Folds
    * 6 x 5 Play Parlay/5 Folds
    * 1 x 6 Play Parlay/6 Folds

    At least one selection must win to earn a return.

    The Super Heinz

    120 bets consisting of 7 selections from different events:

    * 21 x 2 Play Parlay/Doubles
    * 35 x 3 Play Parlay/Trebles
    * 35 x 4 Play Parlay/4 Folds
    * 21 x 5 Play Parlay/5 Folds<
    * 7 x 6 Play Parlay/6 Folds
    * 1 x 7 Play Parlay/7 Folds

    At least 2 selections must win to earn a return.

    The Goliath

    247 bets comprising 8 selections from different events:

    * 28 x 2 Play Parlay/Doubles
    * 56 x 3 Play Parlay/Trebles
    * 70 x 4 Play Parlay/4 Folds
    * 56 x 5 Play Parlay/5 Folds
    * 28 x 6 Play Parlay/6 Folds
    * 8 x 7 Play Parlay/7 Folds
    * 1 x 8 Play Parlay/8 Folds

    At least 2 selections must win to earn a return.
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  5. #5 From Poster, Sportsbook worker, and Friend.... jensinc 
    Super Moderator Betallsports's Avatar
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    Comeback – Underdog’s money line

    Double action - An "if bet" in sports betting that is processed if the precedent bet wins, ties or cancels.

    Eastern Line – Also called a Wide Line, is a money line divided by 20

    Exotic - any wager other than a straight bet, parlay, teaser, or if - also called a prop or proposition.

    Lock
    - Easy winner; can not lose.

    Single action - An "if bet" in sports gambling that is processed only if the precedent bet wins.
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  6. #6  
    Super Moderator Betallsports's Avatar
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    I would like to Add one for Now.....

    Mush - (verb) To create bad luck for others in gambling situations.

    (noun) An invisible force that creates bad luck in poker and gambling situations. A jinx or a hex.
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  7. #7  
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    I feel a little bit overwhelmed. I think I'm used to the oldschool 1:1 or similar way of determining odd ratios. Some of this is new to me. I don't yet understand all that yet and need to know where on this forum I can find further explanation.
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  8. #8  
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    great glossary cant complain with that
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  9. #9  
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    This is really helpful ;)
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  10. #10  
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    I find it really useful. Thanks.
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  11. #11  
    RX Junior Suzie's Avatar
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    COOLER one who actually COOL off a bettor but mostly used in Casinos old days to cool a hot player just by placing a bet or just touching that player
    I never had a bad day in my life.
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  12. #12  
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    TMOPR is another popular one here.




















    Take me off post review
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  13. #13  
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    Have seen proof of anybody hitting the Goliath??? anybody???
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  14. #14  
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    thank you,very useful
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  15. #15  
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    Absolutely, really nice info.
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  16. #16  
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    What is FWIW and TIA?
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  17. #17  
    RX Junior
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    Overwhelming but helpful! Thanks for the info!
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  18. #18  
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    complete glossary information useful..so be on it ...
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  19. #19  
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    Complete! Thanks
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  20. #20  
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    Aye, it is much info to learn here, but it is really helpful. Let the bookworm-betting period start!
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  21. #21  
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    BR Builder - someone who bets and does not request payouts for wins and instead builds the bankroll up to a certain target amount.
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