GLOSSARY OF BET TYPES

Having some problems keeping up with today's betting lingo? Fret no more, because here are the different terminologies ya'll can use to keep up with the best. Yup, you can do that because the best come here, and now, you're one of 'em.

Action

means having a wager or a bet.

Air Move

when a sportsbook changes the line on a game not in reaction to bets they receive but rather in response to another book changing their line

Angles

when you use past game results to predict future results

Against The Spread

means making a wager that will be decided by adding points to one team or the other after the game is played

Arbitrage

means making a combination of bets so that if one bet loses, another wins

Bar

to refuse someone from placing a bet in a given sportsbook

Beard

a person who makes bets for another person

Bet

to risk money on the outcome of an event

Bet Limit

maximum bet size accepted by any given sportsbook

Betting Exchange

a form of betting available on the Internet in which two parties are brought together to bet against each other

Bet To Win

a wager on an individual to win an event

Chalk

the favorite

Churn

the betting and re betting of money

Circled

a game on which the book or bookie has placed a lowered maximum bet limit

Cover

to win against the spread

Credit Betting

betting without needing to have up front money on account to place a wager

Data Mining

means sorting through a large volume of data, usually statistics, searching for profitable situations to bet on the future

Dime Line

a line that charges only half of the juice of standard football bets

Dog / Fav Money Line Differential

the difference in money lines between the favorite's lay price and underdog's take back

Early Line

the first line posted for a game

Edge

the belief that you have an advantage when placing a bet

Even Money

betting a dollar to win a dollar without laying any juice

Exotic

a bet other than the more conventional side or total bets

Favorite

the team expected to win

Field

a group of the entrants whose odds are not individually listed to win an event, usually longshots

Flea

a small bettor who wants something for nothing

Front Running

following betting lines on a computer, and betting in the same direction of line moves

Futures

bets placed far in advance of the sports event

Gamble

to risk money on the outcome of an event

Handicap

to handicap is to analyze a contest and then to predict the outcome

Handle

total amount of money taken by sportsbooks from placed bets

Hedge

to bet the opposite of an original bet to offset the possible loss on the original action

Hook

the half point in a point spread

If Bet

allows you to link together two or more individual bets, similar to parlay

Juice

the amount charged by the bookmaker for taking bets

Line

used to even the odds of a particular sporting event

Longshot

a large underdog who is not expected to win

Matchup Betting

a bet based upon one individual competing head to head against another individual or a group of individuals

Middle

to have separate bets on competing teams and for there to be the possibility of winning both bets

Money Line

odds strictly on the straight up game outcome with no consideration for a point spread

Odds

the likelihood of an outcome occurring, stated in number form

Off The Board

if a game is off the board, the sportsbook is no longer taking bets on it

Offshore Sportsbook

a sportsbook accessed online over the Internet that offers several betting advantages due to convenience and competitive lines

Opening Line

the first line posted for a particular sporting event

Over

to bet that the final combined score of both teams in a game will exceed the Over / Under total posted for betting purposes

Over / Under Bet

a bet on the combined scores or total points scored by both teams in a game

Parlay

a single bet that links together two or more individual wagers and is dependent on all of those wagers winning together

Parlay Card

a set of sides, totals and prop bets printed on a card

Pick

any bet recommended by a handicapper

Point Spread

used to even the odds of a particular sporting event

Post up Betting

betting from an already funded account

Power Ratings

numbers that handicappers assign to teams to estimate how likely one team is to beat the other and/or by how many points

Proposition Bets

additional, more exotic betting options on major sporting events

Public Money

betting action coming from unsophisticated bettors or squares who get information from newspapers and TV preview shows

Round Robin

a series of parlays

Side

to bet on a single team to win a game against the spread

Square

an unsophisticated gambler who uses the same information in the same way as everybody else does

Straight up

winning straight up means simply winning on the scoreboard without any regard to the point spread

System

using past game results to predict future results

Teaser

similar to parlay, a teaser bet is a single bet that links together two or more individual wagers but is different in that it also allows you to adjust the point spread of each individual wager

Total

a number set by a sportsbook for total points to be scored by both teams during a game

Trend

using past game results to predict future results

Under

to bet that final combined score of both teams in a game will fall short of the Over / Under total posted for betting purposes

Vig

the bookmaker's commission

Wiseguy

a successful bettor or handicapper whose insight comes from knowledgeable connections rather than his own handicapping

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GLOSSARY OF BET TYPES