EUROPEAN PRICES (ODDS) - European prices are different from the North American style of odds. In North America, money lines are used to determine the line. In North America, a team that is +140 would be a 40 point underdog. This means that for every $100 wagered the bettor would win $140. For this to be true in a European style of betting, the odds would be 2.40-- meaning that for $100 wagered the bettor would win $140. The 2.40 represents the entire amount wagered and won by the bettor.
EXCHANGE BETTING - Match bets between sports fans with opposing views in a 'stock exchange' style format.
EXOTICS - A wager placed on a first or second half line, future, proposition or money line.
FUTURES/PROPOSITIONS - Futures are based on the outcome of events that happen each year. All wagers are final. There will be no payouts until the conclusion of the specified season. Propositions are wagers based on the outcome of events that happen each year. Odds change daily and all wagers are considered action at the odds quoted at the time of the wager.
HALFTIME (FIRST HALF/SECOND HALF) - A Halftime wager places a bet on the 1st + 2nd quarter results. A Second Half wager places a bet on the 3rd + 4th quarter results (Includes any overtime).
MONEY LINE WAGERS - The team wagered on just has to win the game.
PARLAYS (ALSO KNOWN AS MULTIPLES) - A bet on 2 or more teams or outcomes. All teams must cover by the listed point spread in order to win. In the event of a push or a game cancellation, the parlay reverts to the next lower number, e.g. a 4-team parlay becomes a 3-team parlay.
ROUND ROBIN - A series of three or more teams in 2, 3 or 4-team parlays.
SINGLE - A bet on a single result or outcome.
STRAIGHT BETS - A wager on one event whose outcome for betting purposes shall be determined by a point spread or money odds.
TEASERS - A Teaser is a selection of two or more teams in one wager in which the point spread is adjusted in your favor. All selections must be correct for the teaser to win.
TOTALS (OVER/UNDER) - The combined amount of runs, points or goals scored by both teams during the game, including the overtime. The wager involves the bettor speculating that the total score by both teams in a game will be more or less than the line posted by the sports book.
OTHER USEFUL TERMS:
10 CENT LINE - In money line contests, a ten cent difference in the money lines between the favorite and the underdog.
20 CENT LINE - In money line contests, a twenty cent difference in the money lines between the favorite and the underdog.
ACROSS THE BOARD - A method of wagering on a horse to win, place and show.
ACTION - A wager of any kind.
BOOKIE - Person who takes clients bets.
BUCK - A $100 wager.
CHALK - The favored team or horse.
CIRCLED GAME - A game where the maximum bet is restricted, usually due to injuries.
COVER - To bet the spread by the required number of points. If such occurs you have "covered the spread".
DEAD HEAT - When two or more horses finish in a tie.
DIME BET - A $1000 wager.
DOG - The team perceived to be most likely to lose (underdog).
DOG PLAYER - One who mostly plays the underdog.
DOLLAR BET - A $100 wager.
EVEN MONEY - A bet whose odds are 1/1; a wager in which no vigorish or juice is laid.
HALF DOLLAR - $50.00
HANDICAPPER - One who studies and rates sporting events.
HEDGING - Placing bets on the opposite side in order to cut losses or guarantee a minimum amount of winnings.
HOOK - A half point added to football and basketball betting lines.
HOT GAME - A game which is drawing a lot of action on one side by knowledgeable handicappers.
JUICE - The bookmaker's commission, also known as vigorish.
LIMIT - The maximum a bookmaker will allow you to bet before he changes the odds and/or the points.
LINE - The current odds or point spread on a particular event.
LOCK - Easy Winner.
MIDDLE(S) - To win both sides of the same betting proposition. Betting the favorite team at -2 1/2 with one bookmaker and then taking +3 1/2 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".
NICKEL - A $500 wager.
NO ACTION (PUSH) - A bet in which no money is lost nor won.
OFF THE BOARD - A game on which the bookmaker will not accept action.
OVERLAY - The odds of a particular wagering proposition are higher than they should be.
PICK'EM GAME - A game where no team or betting option is favorite.
POINTSPREAD - The handicap, or head start, which the favorite gives to the underdog for betting purposes.
PRICE - The odds or pointspread.
PUSH - A game which, with the pointspread, is tied or when the combined scores of the two teams ties the total.
SIDED - When one side of a betting proposition wins and opposite side ties.
SIDES - The names of the two teams playing: the underdog and the favorite.
SINGLE ACTION - An "if bet" that is processed only if the precedent bet wins.
SPREAD - An abbreviated form of pointspread.
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.
TAKING THE POINTS (LAYING THE POINTS) - Betting the favorite by giving up points.
TAKING THE PRICE (LAYING THE PRICE) - Betting the favorite by laying money odds.
UNDER - A sports bet in which the bettor guesses that the total points scored by two teams will be under a certain figure.
UNDERLAY - The odds of a particular wagering proposition are lower than they should be.
VALUE - Getting the best odds on a betting proposition; the highest possible edge.
VIGORISH - The commission paid to the bookmaker.
WISE GUY - A well-informed and knowledgeable handicapper or bettor.