| Wagering Glossary | |
Term |
Definition | |
Action |
A bet | |
BM |
Bookmaker | |
BR |
Bankroll | |
Back door |
A 'cover' that occurs in the waning moments of a game | |
Bad beat |
Losing under unusual circumstances | |
Beard |
A runner; one who places a bet for another | |
Beef |
A dispute over the outcome of a bet | |
Bow-wow |
An underdog | |
Chalk |
A favorite | |
Circled game |
A contest on which betting limits are reduced (injuries and weather are the primary reasons for games to be circled) | |
Cover |
A pointspread win | |
Degenerate |
A compulsive gambler | |
Dime |
$1,000 | |
Dollar |
$100 | |
Earn |
Percentage hold | |
Exotic |
Any wager other than a straight bet or parlay (also referred to as a proposition or prop) | |
Exposure |
The maximum amount of money a sports book stands to lose on a game | |
Figure |
Amount owed to or by a bookmaker | |
Form |
A tabloid used for horse racing data | |
Getting down |
Placing a bet | |
Handicapper |
A person who studies factors such as statistics, injuries, weather and news to predict the outcome of games | |
Handle |
Total amount of money wagered | |
Hedge |
To reduce amount of action by wagering on the opposite side of a previous bet | |
Hook |
A half-point | |
Juice |
Amount of commission kept by the house (also referred to as vigorish or vig) | |
Laying a price |
Playing a favorite | |
Layoff |
Money bet by a house with another bookmaker to reduce its liability | |
Limit |
Maximum amount of money accepted for one wager | |
Line |
The odds on a game (also referred to as price) | |
Lock |
A surefire winner (there really is no such proposition) | |
Matador |
A cover that occurs in the waning moments of a game (also referred to as a back door cover) | |
Middle |
Betting both sides of a game at different prices with the hope of winning both wagers (An example: if a bettor played Maryland (minus-4) and Duke (plus-6), and Maryland won, 100-95, he would win both bets -- or "catch a middle") | |
Mush |
A bettor who is bad luck | |
Nickel |
$500 | |
Off the board |
A game on which bookmakers are not accepting wagers (generally because of injuries) | |
Overlay |
A situation in which the odds on a game favor the bettors rather than the house | |
Parlay |
One bet ticket written with at least two wagers (all must win for the ticket to cash) | |
Past post |
To place a wager after an event has started | |
Pick'em |
A game with no favorite (the straight-up winner also would win bets) | |
Price |
The odds on a game | |
Puppy |
The underdog | |
Push |
A tie | |
Round robin |
A single ticket with comprised of more than one parlay | |
Rundown |
A list of odds on a particular day's games | |
Runner |
One who places bets for another | |
Scalper |
Someone who bets both sides of a game | |
Score |
A big win | |
Sharp |
A sophisticated or professional sports bettor | |
Square |
A novice sports bettor | |
Steam |
Heavy action on one side of a game | |
Straight bet |
One wager (as opposed to a parlay) | |
Sucker bet |
Parlays, teasers or exotics (anything bookmakers use to entice squares to bet more) | |
Taking a price |
Betting an underdog | |
Tapped out |
Broke from gambling | |
Teaser |
A sucker wager that allows bettors to add and subtract points from posted odds | |
Tout service |
A company that sells selections on games (most in the United States are dishonest) | |
Underlay |
A situation in which the odds on a game favor the house rather than bettors | |
Value |
An overlay | |
Vigorish |
Amount of commission kept by the house (also referred to as juice or vig) | |
Wise guy |
A professional sports bettor |