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Gambling Glossary
Action:
A wager of any kind.
Book:
An establishment that accepts wagers on the outcome of horseracing and
sporting events.
Bookie:
Person who takes clients bets.
Bankroll:
Your
available gambling money.
Beard:
A friend, acquaintance or other contact who is used to place bets so that
the bookmakers will not know the identity of the actual bettor. Many top
handicappers and persons occupying sensitive positions use this method of
wagering.
Buck:
A $100 wager.
Buy
Points: Buy Points means that you can move the pointspread so that you
give away less points with the favorite or get more points with the
underdog, for both football and basketball. To do this you must pay an extra
10% for each Ѕ point you buy in your favor. For the NFL and NCAA football,
you will pay an additional 15% to buy on or off of 3 points - also know as
Key Points. And if you buy through 3 points, you will pay an additional 20%.
NOTE: There are NO Key Points for basketball. You pay a flat 10% for each
1/2 point you buy. An example of how to buy off of 3 points: the Kansas City
Chiefs (-3) are 3 point favorites. To buy 1/2 point and make them a 2.5
point favorite, you would need to lay $125 to win $100.
Buy
Point Table (Football Key Points):
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Buy
1/2 point to 3
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100/125
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Buy
1/2 point off 3
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100/125
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Buy
1 point to 3
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100/135
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Buy
1 point off 3
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100/135
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Buy
1/2 point any other
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100/120
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Buy
1 point any other
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100/130
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Canadian
Line: A combination point line and moneyline in hockey.
Chalk:
The favored team.
Chalk
Player: Someone who usually only plays the favored teams. Rarely
bets on underdogs. Also known as Favorite Freddie.
Circle
Game: A game in which the betting action is severely limited.
Usually occurs in those games that feature key injuries, inclement weather,
or unsubstantiated rumors regarding a team. Most bookies "circle"
all Ivy League Games.
Cover:
To bet the spread by the required number of points. If such occurs you have
"covered the spread".
Dime
Bet: A $1000 wager.
Dog:
The underdog in any betting proposition.
Dog
Player: One who mostly plays the underdog.
Dollar
Bet: A $100 wager.
Double
Bet: A wager for twice the size of one's usual wager.
Due
For: A team that is "due for" whether it is a win or a loss;
many bettors like to play "due for" situations.
East
Coast Line: Mainly used in hockey, which has a split-goal line e.g. - NY
Rangers (1 - 1 Ѕ) favorite over the Vancouver Canucks as opposed to goal
spread plus moneyline (-1/2 -180).
Edge:
Advantage.
Even
Money: A wager in which no virgorish or juice is laid.
Exotic
Wager: Any bet other than a straight bet, i.e., parlays, teasers, if
bets, reverses, round robin, round robin box reverses, etc.
Fixed
Point shaving: Never say to a client that a game is fixed!
Future
Bet: Bets accepted well in advance.
Futures:
Odds posted on the winners of various major sport championships in advance
of the event, including the Super Bowl, the World Series, the Stanley Cup
and the NBA championship.
Getting
Down: Making a wager.
Going
Down: Losing.
Handicapper:
One who studies and rates sporting events.
Handle:
Total amounts of bets taken.
Hedging:
Placing bets on the opposite side in order to cut losses or guarantee
winning a minimal amount of money.
Holding
Your Own: Neither winning or losing, just breaking even.
Hook:
A half point added to football and basketball betting lines.
Hooked:
Losing a wager by exactly one-half a point.
Hot
Game: A game which is drawing a lot of action on one side by
knowledgeable handicappers.
Jucie:
The bookmaker's commission, also known as vigorish.
Laying
The Points: Betting on the favorite
Limit:
The maximum amount a bookmaker will allow you to bet before he changes odds
and/or the points. Also the "cap" on what you can personally
wager. Line The listed odds on a game ( points or money
line ).
Linemaker:
The person who establishes the original and subsequent betting lines.
Lock:
Easy winner,can not lose.
Longshot:
A team or horse that is unlikely to win.
"The
Man": Bookie.
Middles:
To win both sides of the same betting proposition; betting the favorite team
at -1.5 with one bookmaker and then taking +3.5 with another bookmaker; the
game ends up with the favorite winning by exactly 3 points, you have then
"middled the game"; a favorite betting method of "Wise
Guys".
Money
Lline: A moneyline is offered when no handicap is given, such as a
pointspread or runline, and the odds are not therefore fixed. Payouts are
then based on true odds rather than fixed odds. The favorite 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.+110) 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 favorite. For the underdog, you win $110 for every $100 bet.
Newspaper
Line: The betting line which quite often appears in the daily
newspapers. The lines are only approximate and quiet often totally
inaccurate and misleading.
Nickel:
A $500 wager.
Oddsmaker:
The same as a linemaker.
Odds
On Favorite: A horse,team or individual so favored by the public
that the odds are less than even.
Off
The Board: A game on which the bookmaker will not accept action.
Off
Lines: The amount the Las Vegas pointspread differs from our
computerized mathematical line.
Official
Line: The line that the bookmaker uses for wagering purposes. The
line which comes from Las Vegas is quite often referred to as the official
line; however, the line that your bookie offers you is actually your
"official line". Many smart bettors like to know the Las Vegas
official line so that they can compare to their local bookies in order to
determine how badly they are being "faded".
Outlaw
Line: An early line which is not an official line. Quite often
linemakers allow specially selected bettors to wager into the "outlaw
line" before entering the line to the public. The linemakers respect
these individuals and use their input to create a final opening number. This
process is also called "ironing" or "flattening" the
line.
Overplay:
An advantage for the bettor in which the price on a given wager is greater
than the real probability of its success.
Over
& Under: A wager for the total score by both teams will more or
less than the total posted by the sports book.
Parlay:
The number of teams in the parlay must all hit or the parlay loses. 2-team
parlay pay 13-5 odds. 3-team parlay pay 5-1 odds. 4-team parlays pay 8-1
odds.
Parlay
Cards: Wagers on a minimum of 3 and up to 15 propositions; the more you
pick, the higher the payoff.
Past
Performance: What has occurred previously to the forthcoming games.
Pick:
Occasionally, there will be no favorite on a game. In this instance the game
is said to be a pick and you can bet 10/11 (bet $110 to win $100) on either
team.
Pick'em
Game: Neither team is favored. Take your pick and lay 11 to 10.
Pointspread:
The pointspread - also called "the line" - is used as a margin to
handicap the favorite team. The oddsmaker - also called the handicapper -
"gives" points (or goals) to the underdog - for betting purposes
only. The bettor must take either the favorite or the underdog. The favorite
is always indicated by a minus sign (e.g. -8.5) and the underdog by a plus
sign (e.g.+8.5). For betting purposes, the outcome of the game is determined
by taking the actual game score and finding the difference between the
scores of the two teams playing (called the pointspread or just the
"spread"). For example - The Green Bay Packers are 8 point
favorites over the Miami Dolphins (an 8 point spread shown as -8 beside
Green Bay on our "lines" page). If the final score is Green Bay 20
Miami 13, then the actual game score "spread" is 7 points (20
minus 13). In our example if you took Miami (called the "dog"),
you would win the bet since Green Bay had to win by 9 points or more to
"cover the spread." Green Bay needed 2 more points to
"cover" since if the game landed right on the "spread"
of 8 points it would be called a "push" (similar in concept to a
tie in Moneyline wagering, which is also called a push) and it would be
"no action" (no bet and money held in your account to cover the
wager is released back into your available balance). If the
"spread" is put in at a half point (eg. -8.5 for the favorite
Green Bay) by the Sportsbook handicappers then there can be no
"push." In this case, there is "action" at any final
game score pointspread. In a pointspread, you must wager $11 to win $10 ($21
is returned to the winner). 10/11 is the standard for pointspread bets on
most sports.
Post
Time: The Schedule starting time.
Press:
To bet a larger amount than usual.
Price:
The odds or pointspread.
Proposition
Bet: A wager on a particular aspect of the game such as how many
field goals will be made.
Puckline:
Hockey combines both a handicap/spread and odds. This is called the
Puckline. Sample line:
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Boston
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+1 (-110)
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Detroit
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-1.5 (-110)
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The
favorites are the Detroit Red Wings, who are giving the Boston Bruins 1.5
goals. To win the bet, Detroit would have to win the game by 2 goals. When
placing this bet you are getting even money, which means that for every $110
you wager, you will win $100. If you are betting on Boston, you will receive a
1.0 goal handicap, meaning that if Detroit wins by 1 goal the game is a push.
If the game ends in a tie or Boston wins, then you win the bet. The odds again
are at -110.
Push:
If the result of a game lands exactly on the pointspread or is a tie in the
case of betting a moneyline, or if the exact score of the game matches
exactly the Sportsbook's posted game total (Total), then the game is a
"Push" or "No Action" and all wagers are released back
to the Available Account Balance .
Round
Robin: A form of parlay betting in which we wager various combining
team wagers. A 3-team robin is team 1 to 2, 1 to 3, and 2 to 3. 4-team robin
is team 1 to 2, 1 to 3, 1 to 4, 2 to 3, 2 to 4, and 3 to 4. 5-team, etc.
Run
Line: A line used when wagering on baseball.
Scouts:
Person(s) who study team plays and/or practice and report findings
to handicappers.
Smart
Money: Sides that are bet on by the more knowledgeable handicappers.
Sport
Player: A person who waits for what he thinks is an unusually b
wager.
Steam:
When a betting line starts to move quite rapidly; most "steam
games" do not necessarily reflect the "right side," but are
games that the mass of bettors somehow decide to key on.
Score:
To make a big win.
Scratch:
To call off a wager.
Side:
When one side of a wager wins and the other side ties.
Smart
Money: Sides that are bet on by the more knowledgeable
handicappers.
Sport
Player: A person who waits for what he thinks is an unusually
b wager.
Star:
Rating.
Steam:
When a betting line starts to move quite rapidly. Most "steam
games" do not necessarily reflect the "right side", but are
games that the mass of bettors somehow decide to key on.
The
Store: Bookie.
Steuck:
Behind, losing, buried, down for the week.
Sucker
Bet: A bet that is very disadvantageous to the player such as a
public opinion game.
Taking:
Wagering on the underdog; taking the odds.
Totals:
Total combined point/runs/goals scored in a game; In baseball, if either of
the two listed starting pitchers don't go the bet is automatically
cancelled.
Tout:
Someone who sells his opinions on sports or horse wagers.
Value:
Getting the best odds on a betting proposition; the highest
possible edge.
Virgornish:
The commission paid to the bookmaker.
Wager:
Any Bet.
Wise
Guy: A sophisticated gambler.
Wood:
Laying points.
Taken from www.guide2sportsbooks.us
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