Gambling Terms

 

ACTION
A bet
B.R.
Bankroll
BAD BEAT
Tough loss
BEARD
Messenger bettor
BEEF
Dispute
BUCK
$100
CHALK
Favorite
CHALK EATER
Favorite bettor
CHURN
The effect of betting and rebetting money
CIRCLE GAME
Game where action is limited due to uncertainties about weather, injuries, etc.
COVER
Win by more than the pointspread
DEGENERATE
Compulsive gambler
DIME
$1000
DOLLAR
$100
EARN
Practical hold percentage
EDGE
Advantage
EXOTIC BET
Action other than a straight bet or parlay
FIGURE
Amount owed by or to a bookmaker
FORM
What performance is to be expected according to how a team or horse looks on paper
GET DOWN
Make a bet
GROSS WIN
Win before expenses
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
HOOK
Half point in pointspreads, as in "lost by the hook"
HOME FIELD ADVANTAGE
Edge the home team is expected to have as a result of the familiarity with the arena and effect of travel on the visting team.
HOOP
Basketball
HOT TIP
Information the bookmaker is not yet privy to
JUICE
Bookmaker's commission, most often refers to the 11 to 10 football bettors lay on straight wagers; vigorish
LAY A PRICE
Bet a favorite, lay the points
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
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.
MINUS POOL
In pari-mutuel wagering, when after the take is extracted, there is not enough money left to pay winning patrons the minimum bet. The track must then make up the difference.
MUTUEL
Price paid on a winning pari-mutuel wager
NEUTRAL SITE
Arena, court, or field where neither side has a home field advantage
NICKEL
$500
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
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 be a bookmaker divided by the total amount booked
PRESS
To bet a larger amount than usual
PRICE
Line
PUPPY
Underdog
PUSH
Tie
ROUND ROBIN
A series of parlays. A three team round robin consists of three two-team parlays.
RUNDOWN
Line update
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
SIDE
To win one side and tie the other. For example, if you lay -2 1/2 and take 3 on the smae 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 on team
SUCKER BET
Bet with a large house edge
TAKE A PRICE
Bet the underdog, take the points
TAPPED OUT
Broke, busted, common result of pressing
THEORICAL HOLD PERCENTAGE
The edge the bookmaker would have IF the odds guaranteed him a constant commission regardless of the outcome
TOSS UP
Game where the line is close to pick-em
TOUT SERVICE
A business that sells opinions on sporting events
UNDERLAY
When the odds on a proposition are in favor of the house
VALUE
An overlay
VIGORISH
Juice
WISE GUY
Established and successful sports bettor