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47 Betting Vocabulary, Sports Betting Terms, Slang Terminology You Must Know

To increase your chances of achieving significant wins in sports betting, it is crucial to familiarize yourself with the extensive lexicon of slang and specialized betting vocabulary associated with the activity. Understanding all your betting options and conducting thorough research are key factors in maximizing your success. However, comprehending the gambling lingo can be daunting, especially for newcomers to sports betting. Listening to experienced bettors using sports betting terminology can feel like encountering a completely foreign language. By exploring this alphabetized list, you'll soon be able to confidently speak the language and fully immerse yourself in the world of sports betting.

Gambling Glossary Betting Vocabulary Lingo

 

Accumulator A popular term used to describe a wager that combines multiple bets into a single bet is an accumulator. In an accumulator bet, all individual bets included in the wager must be successful for the overall bet to be a winner. This type of bet is highly favored by gamblers due to its potential for substantial payouts.

Alternate Lines Certain casinos provide modified spreads, totals, and handicaps, which come with corresponding adjustments to the money odds for the bets.

American Odds

Moneyline odds, a popular format in the US, represent the likelihood of winning a bet and are denoted by a number preceded by a minus sign for favorites or a plus sign for underdogs. These numbers indicate the potential profit relative to the bet amount. For instance, odds of -150 require a $150 wager to yield a $100 profit. Conversely, betting on the underdog at +150 would result in a $150 profit for every $100 bet. Angles Angles refer to additional pieces of information or factors that can impact the outcome of a game or a player's performance. These angles are utilized by gamblers who seek to gain an advantage by incorporating supplementary insights into their betting strategies. Ante-Post The odds provided prior to an event, often referred to as early odds, offer bettors the opportunity to secure more favorable betting odds. However, there is a risk involved as the bettor may lose their entire wager if the selected participant withdraws or is unable to compete in the event. Arbitrage

Arbitrage is a strategic approach to betting that capitalizes on the variations in betting lines offered by different sportsbooks. By identifying discrepancies in the lines, it becomes possible to place bets on both sides of an outcome and secure a guaranteed profit. This technique is akin to betting the middle when there are shifts in a casino's line.

ATS A team's against the spread (ATS) record indicates the number of times it has successfully exceeded the point spread set for their games. For example, if a team has a record of 3-2 ATS, it means they have beaten the point spread three times and fallen short of beating it twice. Backdoor Cover When a team is behind in the game and manages to score enough points near the end to cover the point spread.

Bad Beat A poker term that describes a situation where a player loses despite being in a strong position to win, and sports gamblers also use the term bad beat. In sports, it typically refers to an unexpected event that occurs late in the game, resulting in the loss of a bet, such as a turnover touchdown in football. Betting the Limit

Placing a bet at the highest allowable limit set by the casino or sportsbook. Betting Ring A coordinated collective of professional gamblers collaborating together, sometimes referred to as a syndicate. Betting Line The numerical representation of the likelihood or point difference assigned to a game or event. Buying Points

Occasionally, bettors have the option to adjust the lines and odds established by the sportsbook. Buying points involves modifying the point spread of a wager in favor of the bettor's chosen team. However, in exchange for this adjustment, the bettor must accept less favorable odds for the potential payout of the bet.

Chalk or Chalk Bettors Chalk is a colloquial term used to describe the team or player who is expected to win. Chalk bettors are individuals who consistently place their bets on the favorite and rarely on the underdog. Circled Game At times, you may come across games highlighted with a red box on a sportsbook's betting board. This indicates that the game has reduced betting limits. Casinos and sportsbooks typically mark games with a red box when key players are injured, as it introduces uncertainty to the betting lines. Consensus Pick A consensus pick refers to the collective bets placed by the betting public on a particular game. Some bettors employ a strategy that involves betting against the consensus pick, as they believe that the majority of people are often mistaken in their predictions. Cover (Cover the Spread) When a team "covers the spread," it means that they have achieved a victory by a margin greater than the point spread established by the sportsbook. In the case of the favorite team, they cover the spread by winning the game by a larger margin than the spread itself. On the other hand, the underdog covers the spread by either winning the game outright or losing by a smaller margin than the point spread.

Dog/Dog Player In gambling terminology, an "underdog" refers to the team or player that is expected to lose in a particular match or event. It is often abbreviated as "dog." A bettor who frequently places wagers on the underdog is commonly referred to as an "underdog bettor." Double Action A "conditional bet" is a type of wager that is dependent on the outcome of a preceding bet. It is designed to be activated or become valid only if the preceding bet meets certain conditions, such as winning, tying, or being canceled. In other words, the conditional bet is contingent upon the specific result of the preceding bet. Even Money Bets that offer approximately a 50 percent chance of winning and provide a payout equal to the amount wagered are commonly referred to as "even money bets." This means that if you win an even money bet, you will receive a payout that is equal to your original wager. Exotic

A special category of proposition bets that rely on specific outcomes other than which team wins the game. Futures Bet A futures bet is a type of proposition bet where you place a wager at the start of a season or event on the team or individual you believe will win a division or championship. It involves predicting the outcome well in advance, usually before the season begins, and the bet is settled once the event or season comes to a conclusion. Halftime Bet Halftime bets are a popular option in sports like basketball and football. These bets are placed during the halftime break, after the first half of the game has concluded but before the start of the second half. The bookmaker takes into account the performance and outcome of the first half and adjusts the original point spreads, lines, and odds accordingly. This allows bettors to place new wagers based on their analysis of the first half and their predictions for the remaining half of the game. Hedging

Hedging is a strategy commonly used in betting to reduce risk or secure a guaranteed profit. It involves placing additional bets that are opposite or contrary to your original bet. Hedging is often employed in futures bets, where bettors place early wagers on long-term outcomes. However, it can also be utilized in live betting, also known as in-game betting, where bets are made during the course of an ongoing event. By hedging, bettors aim to balance their potential losses or lock in a profit regardless of the final outcome.

In-Game Betting Numerous online sportsbooks offer the option to place bets in real-time while a game is still ongoing. Referred to as live betting or in-game betting, this type of wagering adds an element of excitement and provides opportunities for astute gamblers to gain an advantage. The odds and lines for in-game bets are continuously adjusted by the sportsbook, allowing bettors to capitalize on favorable conditions as they unfold. Juice An alternative term for the fee imposed by the casino or sportsbook on bets. Laying Points When you wager on the favorite team and concede points based on the spread, it is referred to as laying points. This is in contrast to taking points. Laying the Odds When you place a moneyline bet on the team that is expected to win, you will receive less favorable money odds, which is referred to as laying the odds. This is the opposite of taking odds.

Teaser (Two-Team Teaser) Teasers provide the option to combine bets on multiple games and modify the point spreads in favor of your preferred teams. However, the drawback is that both of your chosen teams must win in order for your teaser bet to be successful. Additionally, if you decide to adjust the spreads, the potential payout will be lower if you do win. Total (Points Total) The final score achieved by both teams at the end of a game. Bettors utilize the points total to place over/under bets. Longshot A high-risk bet with a potentially large payout that is considered unlikely to be successful. Middle (Betting the Middle) Betting the middle refers to a strategic opportunity that arises when the line on a game shifts. It involves placing bets on both sides of the new line, which allows the bettor to potentially win both bets if the final outcome falls within a specific range. For instance, if you initially wagered on a team as a 3.5-point favorite and the line later moves to 2.5 points, you can place a bet on the opposing team. This way, if the favorite wins by exactly three points, you would win both bets. It's a favorable situation because even if the favorite doesn't win by three points, you are still guaranteed to win one of your bets. Moving the Line This term is similar to buying points and involves a gambler exchanging more favorable money odds in order to gain an additional half-point on the spread. Off the Board When a casino or sportsbook eliminates a betting line or option just before the game commences, typically due to factors such as key player injuries or uncertainties surrounding the game. Outlaw Line The initial betting line established for a game or event, exclusively available to a select group of gamblers. Over/Under Over/under is a commonly placed sports bet where you predict the total number of points that will be scored by both teams combined. The sportsbook sets a line, and you can choose to bet whether the final score will be higher (over) or lower (under) than that line. Parlay Parlay bets are unique wagers that combine two or more individual bets, often involving multiple games. In order for a parlay bet to be successful, all of the individual bets within it must win. Despite being less likely to win, gamblers are attracted to parlays due to the potential for significant payouts. Prop Bets (Proposition Bets) Props, short for proposition bets, are unique wagers that focus on specific elements unrelated to the final outcome of a game. These bets have gained popularity, especially during events like the Super Bowl, and are increasingly common in regular-season games of major sports. Props can encompass a wide range of possibilities, such as predicting which team will score first or determining the winner of the coin toss. Occasionally, particularly intriguing props are referred to as exotics.

Risk-Free bet This term is used when a user registers with a sportsbook and makes their initial wager. The first bet is considered risk-free because if the bet results in a loss, the user will be reimbursed with a credit equal to the amount they wagered. This credit can be used for future bets within the sportsbook. Steam This term is used to describe a situation in which a betting line is shifting or increasing due to a significant amount of bets being placed on it. This movement can occur when professional bettors exploit a vulnerable line or when a large portion of the general public is placing bets in the same direction. Straight Up Winner A straight-up bet is a type of wager where the sole requirement is for the team to win the game outright, without considering the point spread. It is often associated with betting on the money line.

Syndicate A ring in the gambling world refers to an organized collective of professional gamblers collaborating and working together. It is a term used to describe a group of individuals who join forces to maximize their chances of success in gambling activities. Taking Points (Taking the Points) Taking points, in contrast to laying points, refers to a betting strategy where you place a wager on the underdog team. When taking points, you are given a certain number of points as an advantage in the point spread. This means that your chosen team can either win the game outright or lose by a specified margin of points for your bet to be successful.

Taking the Price (Taking Odds) Taking odds, as opposed to laying the price or laying the odds, refers to a betting approach where you place a wager on the underdog team. When taking odds, you accept more favorable money odds in exchange for betting on the less favored team. This means that if your chosen underdog team wins, you stand to receive a higher payout relative to the amount you wagered. Teaser (Two-Team Teaser) Teasers provide an opportunity to merge multiple game bets into a single wager while modifying the point spreads in favor of your preferred teams. This allows you to increase your chances of winning. However, it's important to note that in order to win a teaser, all the teams you selected must win their respective games. Additionally, if you choose to adjust the point spreads in your teaser, the potential payout will be lower compared to a standard bet. Value The term "value" is commonly used to describe the advantage or favorable odds that a bettor perceives in a particular wager. It is often associated with situations where the betting line or odds offered by the sportsbook are considered advantageous or potentially more profitable than they should be. Vig (Vigorish) The term "vig" or "juice" is used to describe the commission or fee that a casino or sportsbook charges on bets placed by bettors. It represents the portion of the wager that the house keeps as profit for facilitating the betting process.


 

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JILI178- Betting Vocabulary


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