Glossary and Language
Here is a comprehensive list and definitions of Glossary and Language used when betting on sports which is very useful for beginners. It will help them understand the terminology when making a bet.
To help we have alphabeticalized our Sports Betting Glossary and Language terms of words used in the sports industry:
A
ACTION A bet
ATS Against the spread
B
B.R. Bankroll
BAD BEAT Tough loss
BEARD Messenger bettor
BEEF Dispute
BUCK $100
C
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 point spreads, 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.