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by CRB

July 13, 2020

There are many sports betting jargons/glossaries that are popular among the Indian bettors. Especially it is essential to know the betting glossaries to have a clear insight about the betting process. So here we are going to present some general sports betting jargons/glossaries that could be helpful to bring the odds in your favour. 

Sports Betting

Action: If you place your wager in the game, it is termed as action. 

ATS (“against the [point] spread”): It indicates taking or laying points contrary to elevating a game. 

Backdoor cover: When any sports team show unexpected results covering the spread 

Bad beat: It indicates that you have lost the bet that you probably should have won. It happens at the end of the game when the betting result is decided. 

Beard: If someone places your bet on behalf of you to hide your real identity, it is termed as Beard. 

Book: It is a short form for sportsbook or bookmaker. Generally, if the bookmaker takes bets from customer and keeps records of the total bet amount, it is termed as Book. 

Bookie: It is another term for a bookmaker who accepts bets from the bettors and charges specific percentages on it. 

Buying points: You can alter the set line and adjust the odds depending on the bookies or sportsbook. If your bookies permit you to do so, you can change your set line of 2.5 to 3 points on any of your favourite team. At this point, you would be buying half points from the bookies, and your betting odds will be changed as well.

Chalk: As in sports, many people like to bet on their favourite team that has a higher chance of winning. And the one who only bet on their favourites is referred to as ‘Chalk’ bettors. 

Circle game: If there will be doubt about the players’ physical form or weather conditions, the bet will be limited for a game. It is defined by the term Circle game. 

Closing line: The final line that is available before the game commences is referred to as the closing line. 

Consensus pick: The consensus means general agreement and Pick means to choose. As a whole, consensus pick means how many people have chosen a specific team over other teams. Variety of sportsbook gathers the consensus data in Pickcenter. It assists the bettors to gain insights about public support on a particular side. 

Cover: In simple term, cover means a bet won by a bettor. If a team achieves a sweeping victory over other teams by enough points, they cover the spread. A team could also lose the game by lesser points as opposed to spread prediction. 

Dime: It is a jargon used for a $1000 bet. If you bet “three dimes,” on a particular team, you have waged $3000. 

‘Dog: It is a US slang term referred to a team who has less chance of winning the game or event. It is an abbreviation of Underdog. 

Dollar: It is a simple term to understand. If you bet ten dollars, you place $1000 wager on a match. Bookies used this term to state a dollar bet as $100 wager. 

Edge: Denoted as an advantage to sports betters if they find the lines aren’t perfect to have an edge on a book. 

Even money: t is called an odds bet of 1:1. If you win even money, bet you will receive the exact double of your original wager. 

Exotic: It is also called as “Prop” or “Proposition Wager”. It refers to the wager other than teaser, parley or combination type of bet. 

Favourite: The much-favoured teams on the sports are favorite. Depending on the sports, a favourite team has to win by certain points if a bettor wants to win his bet. For example, in cricket, if India is 2.5 point favourite, it should win by three points to cover the spread. 

Fixed Game: If any players on a team or the competitor manipulate the game to fulfil the interest of certain groups or bettors, then it is referred to as a fixed game. 

Futures bet: It is a type of bet that is placed to foretell a future outcome. This type of bet is used to predict which team will win the tournaments or events in the future. 

Halftime bet: This bet is placed after the first half of the game ends. A bettor usually gains the game insight during the first half and bets before the start of the second half. Halftime bet is relevant for football and basketball games. 

Handicapper: Anyone who tries to predict the outcome of a game or event is referred to as Handicapper. 

Handle: The total sum of wagered money held by a book or an event is called handle. 

Hedging: Sometimes in sports betting, a large number of bettors bet only on one team. It may create a large imbalance of wagering money. At this situation, bookie adopts a strategy to reduce his loss which is known as hedging. A bettor could also use this strategy 

to ensure some profit or to minimize potential loss. 

High roller: A prodigal gamblers who love to take a risk and win big. 

Hook: A half-point is referred to as Hook. If a team is a 5.5-point favourite, it means it is laying five and a hook. 

In-game wagering: If a bettor wishes to place his multiple bets during the live game broadcast, he could do so. Usually, bookies offer In-game wagering service to bettors to encourage them to bet. 

Juice: Juice is commonly used term in sports betting that denotes the commission. If a player puts a bet, a bookie or bookmaker takes a certain commission

from that bet. It is also called the ‘Vig/Vigorish’. 

Kite: A slang word used in the UK to refer to cheque(check). 

Layoff: Money bet by a house with another sportsbook to reduce the Book’s liability. 

Limit: It is a maximum bet set by the book. Bookies will decide whether to accept your bet after the betting limit get crossed. Suppose a book has a betting limit of $10,000. After receiving this bet, it may adjust the line to allow the bettor to bet again. 

Lock: A term that implies a bettor is sure to win or almost there to win. 

Middle: A person has a chance to win bets on both sides in a sports betting event. A bettor can place a middle wager and win both sides with minimal risks. 

Let us suppose, a bettor bets on one team as 3.5 point favourite. If the line movies to 4.5, he can bet on opposing team at 4.5 hoping that the favourite wins by four points. If the outcome of the game resembles the predicted value, then he will win both sides of the bet.

Money line: It is a type of wager where there will be no point spread. Since there will be no points, your team only needs to win. Here, odds substitute the point. 

Mush: It is referred to a bettor or gambler who is assumed to bring bad luck. Or they are considered as the epitome of bad luck.

Nickel: It is popular sports betting jargon used with bookies to denote $500. If you bet “a nickel’, it means you are placing $500 wager in a game. 

Oddsmaker (also linemaker): Bookmaker and Oddsmaker are separate terms. Even though it appears like they have the same role, oddsmakers set the lines for the people who will ultimately book the bets. 

Off the board: During unexpected time regarding team participation and game forfeits, a book or bookie will take down a bet. Under such circumstances, your bet will not be accepted by them.

Over/under: It is generally used in prop bets to describe the total combined points in a game. This term is also used to explain the number of games that a team is likely to win in a season. 

Parlay: It is a bet placed on the outcome of two or more than two teams. Parley bet only wins if a player makes the right choice while betting on a team. You can place parley bet either on the money line or against the spread. In such type of bet, you have to bet on more team to enhance your winning odds. 

Pick ’em: It is a game where there are no favourites or underdogs. 

Point spread: Here, the less favoured team or the underdog is allotted certain points to rank up for the betting needs with the favourites. 

Proposition (or prop) bet: This type of bet is most popular on the major sporting events. Unlike other bets, it focuses on different features within the game such as the first team to score, yards covered by players and so on.  If you could predict which team will first net a goal on soccer, or which player will cover the longest yard on super Bowl, you can try this bet. 

Push: Your wagers are returned to you if the outcome lands on the betting number.

Sharp: This term is used for a professional sports bettor.

Square: A bettor who bets without any plans or hard and fast rules. 

Straight up: A team which is sure to win the game or which has dominance on the money line. 

Underdog: The team which doesn’t have much chance to win the game. You can either bet on the team predicts that it will lose by fewer points or win over the favourite team. 

Wager: In simple term, a wager is a bet that bettor place in a game. 

Welch: One who fails to pay a gambling bet or debt is referred to as Welch. 

Wiseguy: It is a term given to a seasoned player who has long expertise in a betting game. Wiseguy is also considered as another term for ‘Sharp’.

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by CRB