Learn the terms your Bookies use.
Courtesy of Linesmaker Sportsbook.
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Action - Is normally known as having money in a game (bet), but when you wager on baseball and you choose action, it means that you don't mind which pitchers are starting the game.
Bad Beat - Tough loss
Balance - To have equal action on either side of a game.
Beard - Messenger bettor. A person betting on another's behalf, often to conceal the identity of the actual bettor.
Beef - Dispute
Buck - $100
Chalk - The favorite
Chalk Eater - A player who wagers in the favorite.
Churn - The effect of betting and re-betting money
Circle Game - Game where action is limited due to uncertainties about weather, injuries, etc.
Cover - in by more than the point spread
Degenerate - a person with a gambling problem.
Dime - $1000
Dog - The underdog or team expected to lose.
Dollar - $100
Earn - Practical hold percentage
Edge - Advantage
Exotic Bet - Action other than a straight bet or parlay
Favorite - The team expected to win.
Figure - Amount owed by or to a bookmaker
Get Down - Make a bet
Gross Win - Win before expenses
Handicapper - One who studies sports and predicts outcomes.
Handle - Total amount of bets taken or total betting volume.
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 point spreads, 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 visiting team.
Hoops - Basketball
Hot Tip - Information the bookmaker is not yet privy to
Juice - Bookmaker's commission, most often refers to the -110 football bettors lay on straight wagers; also the vig or vigorish
Lay Off - To bet make bet on a game to reduce the exposure or risk. A bookmaker who has accepted too much action on one side of an event may lay off by placing a wager with another bookmaker to ensure that he is not over exposed.
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
Long Shot - 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
Mutual - 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 Overplay - 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 or gambler
Practical Hold Percentage - The amount won by a bookmaker divided by the total amount booked
Press - To bet a larger amount than usual
Price - Line
Puppy - Underdog
Push - A 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 odds.
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 same game and the favorite wins by 3 you have SIDED the book. The book has been SIDED.
Square - Recreational gambler
Steam - Heavy action on one side
Straight Bet - A bet on just one team against the spread.
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
Theoretical 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 - Often called the Vig or Juice
Wise Guy - Established and successful sports bettor
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