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Sports Gambling and Poker Glossary
Poker and Sports Betting terms, meaning of words:
Terminology, Jargon, Slang, Vocabulary.
A
Action - A bet or wager of any kind is deemed Action if valid. Different rules apply in different sports in determining if a bet is action or no action (e.g. baseball bets are action when the game gets beyond 4½ innings).
All-In - With all-in betting there are no refunds given for scratched or withdrawn competitors or teams in an event where a bet is placed. Should an event be cancelled then the amount bet will be refunded.
Ante Post - (Also, Futures) Bets placed in advance predicting the outcome of a future event. Ante-post prices are those on major sporting events, usually prior to the day of the event itself. In return for the chance of better odds, punters risk the fact that stakes are not returned if their selection pulls out or is cancelled.
Arbitrage - Where a variation in odds available allows a bettor to back both sides and guarantee a win.
B
Betting Percentages - The proportion of bets of one side or the wager in relation to the total bets placed on the event. Also commonly referred to as public betting trends.
Bettor (US) - Someone who places or has a bet. A 'Punter' in the UK.
Book - A bookmaker's tally of amounts bet on each competitor, and odds necessary to assure him of profit. Running a 'book' is the act of quoting odds and accepting bets on an event and the person doing it is called the 'Bookmaker'.
Bookie - (U.K.) Short for bookmaker. The person or shop who accepts bets.
Bookmaker - Person who is licensed to accept bets on the result of an event based on their provision of odds to the customer. (Sportsbook US).
Buck (US) - A bet of US$ 100 (also known as a 'dollar bet').
C
Chalk - The favored team. Anti-chalk public betting trends.
Chalk Player - Bettor on favourites.
Circled Game - A game where the maximum bet is limited. The sportsbook or bookmaker puts a limit on the amount of action they are prepared to take on the game. This is most often due to doubts about key players, in games that feature key injuries, inclement weather, or unsubstantiated rumors regarding a team. Most bookies 'Circle' all Ivy League Games.
Closing Line - The final list of point spreads offered before game time.
Combination Bet - Selecting any number of teams/horses to finish first and second in either order.
Cover - To bet the spread by the required number of points.
Credit Betting - Betting using credit with a bookmaker.
D
Deposit Betting - Betting with money deposited in advance with a bookmaker.
Dime bet - A $1000 wager.
Dog (US) - The underdog in any betting proposition.
Dog Player (US) - A bettor who mainly wagers on the underdog.
Dollar Bet - A $100 wager.
Double or Nothing - An even-money bet, a bet that pays off exactly the amount wagered.
Draw - Where competitors in an event finish evenly. Where there is a draw and this is not offered as a betting option, the return will be divided by the number of joint winners. Note that some sports have processes such as extra-time or play-offs to determine an event winner that are included as part of the bet where others are not. This may affect some bets and you should always be sure how an event would be decided in this instance.
F
Fixed Game - A game in which one or more participants willfully manipulate the final outcome of a game.
Fixed Odds - Your dividend is fixed at the odds when you placed your bet. No matter how much the odds fluctuate the odds at the time you placed your bet are fixed and written on the ticket. Your dividend for winning is paid at the value stated on your ticket, no matter what happens after you have placed your bet.
Flag - A bet consisting of 23 bets (a 'Yankee' plus 6 'Single Stakes About' bets in pairs) on 4 selections in different event.
Flea - An annoying person who wants something for nothing. One who expects to be comped for a small wager
Fold - When preceded by a number, a fold indicates the number of selections in an accumulator (e.g. 5-Fold = 5 selections).
H
Handicap - Spread.
Hang Cheng - The Asian equivalent for 'Point Spread'.
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 - Slang word used to indicate the game of basketball.
I
IBF - International Boxing Federation.
J
Juice - The bookmaker's commission, also known as vigorish or vig.
L
Lay a Bet - A bookie accepting a bet.
Layer - Another term for Bookie.
Layoff - A bookmaker's bet with another bookmaker made in order to help equalize the excess action he has accepted from his customers.
LBO - Acronym for 'Licensed Betting Office' in the UK.
Lines - Odds offered to the punter.
Linemaker - One who compiles or sets the original or subsequent betting lines.
Lock - (As in 'Banker') US term for an almost certain winner. Easy winner.
Long Odds - Generally greater than 10:1.
M
MLB - Major League Baseball.
Money Line - (Also, Action Line or Spread Betting) The amount that must be wagered to win $100, or the amount won for a $100 wager.
MVP - Most Valuable Player.
N
NBA - National Basketball Association.
NCAA - National Collegiate Athletic Association.
NFL - National Football League.
NHL - National Hockey League.
Nickel - A $500 wager.
O
Odds - The sportsbook's or bookmaker's view of the chance of a competitor winning (adjusted to include a profit).
Oddsmaker - A person who sets the betting odds. (Sportsbooks or Bookies don't set the odds. Most major sportsbooks use odds set by Las Vegas oddsmakers.)
Off the Board (US) - A game or event on which the sporstbook will not accept action.
Over/Under - A bet on whether the total points or goals scored by the two teams will be over or under a specified number.
P
Parlay - (Also, Accumulator) A multiple bet. A kind of 'let-it-ride' bet. Making simultaneous selections on two or more games with the intent of pressing the winnings of the first win on the bet of the following game selected, and so on. All the selections made must win for you to win the parlay.
Picks - Betting selections, usually by an expert.
PK or Pick - Evenly matched teams.
Place - Finish in the top three, top four and sometimes also top five in a competition or event. A Place bet will win if the selection you bet on is among those placed. Different sportsbooks have different Place terms and you should check their rules before placing a bet.
Point Spread - (Also, Handicap) The points allocated to the 'underdog' to level the odds with the 'favorite/favourite'.
Price - The odds.
Pucks - A slang word used to indicate the game of hockey.
Punter - Bettor.
Push - A game that is tied when the point spread is factored in.
R
Return - Your total winnings on a bet.
Round Robin - A bet consisting of 10 bets (3 pairs of 'Single Stakes About' bets plus 3 doubles and 1 treble) involving three selections in different events. (US, A series of three or more teams into two-team wagers).
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.
Shorten - The opposite of 'Lengthen'. Referred to odds getting shorter, that is, less attractive to the bettor.
Shut Out (US) - What happens to a bettor who gets on the betting line to late and is still waiting in line when the window closes. Also, in sports betting, when the losing team do not score.
Single - A Straight bet on one selection to win one race or event, also known as a straight-up bet.
Sportsbook - The person, shop or website who accepts bets.
Spread - Point Spread.
Spread Betting - (Also, Action Line or Money Line) The amount that must be wagered to win $100, or the amount won for a $100 wager. A bet is won or lost according to whether you correctly predict the result of an event (also known as 'action line' or 'money line'). Returns or losses are calculated in proportion to how right or wrong the bettor is, and can lead to huge returns or losses.
Stanley Cup - Championship of Hockey.
Steam - When a betting line starts to move quite rapidly, usually caused by many bettors betting on it.
Super Bowl - NFL Championship game.
System - A method of betting, usually mathematically based, used by a punter or bettor to try to get an advantage.
T
Teaser (See also "In and Out Teaser" above) - A bet on two or more teams where the bettor can add or subtract points from the spread to make their bets stronger in return for reduced odds. All results must match the selections to win the teaser.
Tips - Picks. The selections and predictions of competitors performance for an event from an expert or observer.
Totals - Sports bet on whether the combined number of points or goals scored by the two teams will be over/under a given mark.
True Odds - The real odds of something happening as opposed to what the bookies offer.
Two and Three Balls Betting - A golfing bet that involves predicting which player from either a group of two or three will shoot the lowest score over 18 holes.
U
Underdog - The team that receives a point start in a handicap.
V
Value - Getting the best odds on a wager.
Vigorish or Vig. - The commission paid to the bookmaker.
W
Welsh/Welch - To fail to pay a gambling bet.
Win Only - Betting on a competitor to win an event. Also known as 'Straight Out' or 'Money Line' betting.
Wise Guy - A knowledgeable handicapper or bettor.
WNBA - Women's National Basketball Association.
World Series - Championship of Major League Baseball (MLB). The final seven games of the baseball playoffs between the two league champions to determine the world champion.
This is a gambling information website with lots of free resources as well as helpful advice and frequent updates.
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