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Glossary Of Betting & Gambling Related Terms

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Action 
A wager of any kind. 

Book
An establishment that accepts wagers on the outcome of horseracing and sporting events. 

Bookie
Person who takes clients bets.

Bankroll 
Your available gambling money. 

Beard or also known as "Runner"
A friend, acquaintance or other contact who is used to place bets so that the
bookmakers will not know the identity of the actual bettor. Many top handicappers and persons occupying sensitive positions use this method of wagering. 

Buck
A $100 wager.

Buy Points 
Buy Points means that you can move the pointspread so that you give away less points with the favorite or get more points with the underdog, for both football and basketball. To do this you must pay an extra 10% for each ½ point you buy in your favor. For the NFL and NCAA football, you will pay an additional 15% to buy on or off of 3 points - also know as Key Points.

Chalk
The favored team. 

Chalk Player or also known as "Bridge Jumper"
Someone who usually only Picks the favored teams. Rarely bets on underdogs. Also known as Favorite Freddie. 

Circled Game
A game in which the betting action is severely limited. Usually occurs in those games that feature key injuries, inclement weather, or unsubstantiated rumors regarding a team.

Cover 
To bet the spread by the required number of points. If such occurs you have "covered the spread". 

Dime Bet
A $1000 wager. 

Dog
The underdog in any betting proposition.

Dollar Bet
A $100 wager.

Edge
Advantage. 

Even Money 
A wager in which no vigorous or juice is laid. 

Exotic Wager 
Any bet other than a straight bet, i.e., parlays, teasers, if bets, reverses, round robin, round robin box reverses, etc.

Fixed
Point shaving.

Future Bet
Bets accepted well in advance. 

Futures
Odds posted on the winners of various major sport championships in advance of the event, including the Super Bowl, the World Series, the Stanley Cup and the NBA championship.

Getting Down
Making a wager. 

Handicapper
One who studies and rates sporting events. 

Handle
Total amounts of bets taken. 

Hedging
Placing bets on the opposite side in order to cut losses or guarantee winning a 
minimal amount of money. 

Hook
A half point added to football and basketball betting lines. 

Hooked
Losing a wager by exactly one-half a point.

Hot Game also known as "Steam Play" or "Wise Guy Move"
A game which is drawing a lot of action on one side by knowledgeable handicappers. 

Juice
The bookmaker's commission, also known as virgornish. 

Laying The Points
Betting on the favorite 

Limit 
The maximum amount a bookmaker will allow you to bet before he changes odds
and/or the points. Also the "cap" on what you can personally wager.

Line
The listed odds on a game ( points or money line ).

Linemaker
The person who establishes the original and subsequent betting lines. 

Lock
Easy winner, can not lose. 

Longshot 
A team or horse that is unlikely to win and has been determined to be a huge underdog.

Middles
To win both sides of the same betting proposition; betting the favorite team at -1.5 with one bookmaker and then taking +3.5 with another bookmaker; the game ends up with the favorite winning by exactly 3 points, you have then "middled the game." 

Money Line 
A money line is offered when no handicap is given, such as a point spread or run line, and the odds are not therefore fixed. Payouts are then based on true odds rather than fixed odds. The favorite and underdog are given odds to win a game or fight. 
The minus sign (e.g.-130) always indicates the favorite and the amount you must bet to win $100. The plus sign (e.g.+150) always indicates the underdog and the amount you win for every $100 bet. 

Nickel
A $500 wager.

Oddsmaker
The same as a line maker. 

Off The Board 
A game on which the bookmaker will not accept action. 

Official Line
The line that the bookmaker uses for wagering purposes. The line which comes from Las Vegas is quite often referred to as the official line; however, the line that your bookie offers you is actually your "official line". 

Outlaw Line 
An early line which is not an official line. Quite often line makers allow specially
selected bettors to wager into the "outlaw line" before entering the line to the public.
The linemakers respect these individuals and use their input to create a final opening
number. 

Over & Under 
A wager for the total score by both teams will more or less than the total posted by the sports book.

Parlay Cards 
Wagers on a minimum of 3 and up to 15 propositions; the more you pick, the higher the payoff. 

Pick'em Game
Neither team is favored. Take your pick and lay 11 to 10. 

Point Spread
The point spread - also called "the line" - is used as a margin to handicap the favorite team. The odds maker - "gives" points (or goals) to the underdog - for betting purposes only. The bettor must take either the favorite or the underdog. The favorite is always indicated by a minus sign and the underdog by a plus sign. 

Post Time 
The Schedule starting time. 

Price 
The odds or pointspread. 

Proposition Bet
A wager on a particular aspect of the game such as how many field goals will be made.

Puck Line 
Hockey combines both a handicap/spread and odds. This is called the Puck Line. Example line: 
Flyers +0.5 (+120)
Redwings - 0.5 (-140)

Push
If the result of a game lands exactly on the pointspread or is a tie in the case of betting a moneyline, or if the exact score of the game matches exactly the Sportsbook's posted game total (Total), then the game is a "Push" or "No Action" and all wagers are released back to the Available Account Balance . 

Run Line
A line used when wagering on baseball. 

Scouts 
Person(s) who study team Picks and/or practice and report findings to handicappers. 

Smart Money 
Sides that are bet on by the more knowledgeable handicappers. 

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.

Score 
To make a big win. 

Scratch
To call off a wager.

Smart Money
Sides that are bet on by the more knowledgeable handicappers. 

Sucker Bet 
A bet that is very disadvantageous to the player such as a public opinion game. 

Taking
Wagering on the underdog; taking the odds.

Totals
Total combined point/runs/goals scored in a game. 

Value 
Getting the best odds on a betting proposition; the highest possible edge. 

Virgornish
The commission paid to the bookmaker. 

Wager
Any Bet. 

Wise Guy
A sophisticated gambler. 

Wood
Laying points.