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I took this off another website but this is for you newbs or inexperienced players.
ACTION the total amount risked on one or more bets. "I have $500 in action on baseball today," or, "I had two dimes in action yesterday."
BAD BEAT an improbable loss, such as due to a last-second Hail Mary pass or a bad official's call or an unlikely error, fumble, interception, missed foul shot, etc.
BAD WIN there is no such thing as a "bad win." Every win happens because you knew it would.
BANKROLL the total amount of money one has available for betting (See 'FANTASY')
BETTING SYSTEM any pre-planned method of sizing one's bets, usually based on recent events, designed to make more profit than you deserve (See 'TOO GOOD TO BE TRUE')
BOOKIE, BOOKMAKER the man who 'holds the money' between bettors, charging a commission for his service; like a banker, only a lot more honest (See also: 'HEARTLESS S.O.B.')
BUCK $100 (See also: 'DOLLAR')
CHALK the favorite; the team expected by the general betting public to win the game; the team requiring you to lay odds to bet on them
CHALK-EATER (1.) someone who bets on the favored team. (2.) someone who habitually bets on favorites
CIRCLED GAME a game or proposition with special limitations assigned to it by the bookmaker, usually due to special circumstances involving uncertain weather conditions, questions about who will play in the game, or other unusual conditions
COMP any gift from a casino or bookmaker to a customer, ranging from a free soft drink to a lunch buffet to show tickets to a free hotel room to free airline tickets to a suite of rooms to the-sky's-the-limit, all depending on the size of the customer's action
COVER (verb) a favored team covers when they win the game by more than the pointspread; an underdog covers when they either win the game outright or lose by less than the pointspread
DIME $1,000
DIME LINE having to risk 105 to win 100 on either side of a proposition. The bookmaker keeps slightly less than 5 percent of the winnings as his commission (See also: MONEYLINE, 'POINTSPREAD', 'SIX-TO-FIVE LINE', 'THIRTY-CENT LINE', 'TWENTY-CENT LINE')
DOG the team expected (according to the posted line) to lose the game; the underdog
DOLLAR $100
EDGE advantage
EXOTIC BET action other than a standard bet or simple parlay (See also: 'QUICKSAND')
FAVORITE the team expected to win the game, according to the posted odds; the team requiring you to lay odds to bet on them (See 'CHALK')
FORTY-CENT LINE having to risk 120 to win 100 on either side of a proposition. The bookmaker keeps slightly less than 17 percent of the winnings as his commission. (See also: 'DIME LINE', 'MONEYLINE', 'POINTSPREAD', 'SIX-TO-FIVE LINE', 'THIRTY-CENT LINE', 'TWENTY-CENT LINE', and especially 'STUPID GAMBLERS')
FUTURE BET, FUTURES a bet on something that will happen in the future, such as which team will eventually win the World Series or Super Bowl (See also: SKY-HIGH VIGORISH)
GAMER gambler (See also: 'PLAYER, PUNTER, HANDICAPPER')
GET DOWN place a bet
HANDICAP (pronoun) The predicted pointspread (margin of victory) or difference in odds between the favored team and the underdog. (verb) to study stats, conditions, etc., ultimately to predict the margin of victory between two sports teams
HANDICAPPER one who studies the teams and conditions in order to predict the outcome of a game, especially the probable margin of victory
HANDLE the total amount risked over a given period, or over a certain number of bets; the total of all action, especially the total at risk by a bookmaker (See also: 'ACTION')
HEDGE BET a bet in opposition to an existing bet, thereby reducing the total amount risked on a particular proposition (See also: 'BAD IDEA')
HOME FIELD ADVANTAGE the sum of the subjective advantages enjoyed by a team when playing in their own stadium or arena as opposed to having traveled to a strange town to play in a strange environment
HOOK the half-point added to a whole number pointspread, such as an NFL favorite laying 3.5 points rather than 3.0 points
JUICE the bookmaker's commission, similar to a stockbroker's commission, or to a Realtor's commission; the percentage of total monies risked kept by the bookmaker after paying the winners (See 'VIGORISH')
KELLY CRITERION a betting system wherein the bigger your estimated advantage, the higher your bet should be (See also: 'KAMIKAZE CRITERION')
LAY THE CHALK, LAY THE POINTS to place a bet on the favorite
LIMIT the maximum amount allowed by the bookmaker to be bet at the posted odds
LINE the posted odds on a sporting event, either the pointspread or the moneyline (See also: 'DIME LINE', 'MONEYLINE', 'FORTY-CENT LINE', 'POINTSPREAD', 'SIX-TO-FIVE LINE', 'THIRTY-CENT LINE', 'TWENTY-CENT LINE')
LIVE DOG an underdog that is considered to have a chance to win the game outright
LOCK, LOCK BET a bet that can't possibly lose; a sure thing, a bet that's already "locked away" before the game starts (See also, 'FAIRYTALE', 'SPORTS TOUT')
MARTINGALE BETTING SYSTEM in its simplest form the Martingale is a method wherein you risk one 'unit' and so long as you win your bet you continue risking one unit. When you do lose a bet, however, you double the size of the next bet, and if you lose again you redouble and keep doubling until you finally win a bet, whereupon you revert again to betting one unit. So long as you win one more bet before you die, of course, you cannot lose with this system - unless you go broke from redoubling your bets, - and you will most definitely go broke!
MIDDLE (verb) to win both sides of the same game, such as when betting on the favorite at -2.5 and also on the underdog at +3.5, then having the favorite win the game by precisely 3 points. (See also: 'BOOKMAKER'S NIGHTMARE')
MONEYLINE odds offered on a team to win a game outright, without taking or giving points as a handicap. A team listed as -150 means you must risk 150% of whatever you stand to win on that team - (15 to win 10, or 75 to win 50, or 100 to win 67, etc.) A team listed as being +150 means you must risk 66.67% of whatever you stand to win - (10 to win 15, or 50 to win 75, or 100 to win 150, etc.) See also: 'DIME LINE', 'SIX-TO-FIVE LINE', 'TWENTY CENT LINE')
NICKEL $500
OFF THE BOARD a game where no bets of any kind are being accepted by the bookmaker (See: 'CIRCLED GAME')
ONE-STAR, TWO-STAR, THREE-STAR a betting system employing various sizes of bets; usually espoused by sports touts to denote the strength of their opinion on assorted games. (See also: 'ONE-SUICIDE, TWO-SUICIDE. THREE SUICIDE.....')
OUT a bookmaker, often used to refer to an illegal bookmaker
OVER/UNDER (1.) the number of games a team is expected to win over an entire season, usually used in conjunction with NFL teams before the regular season begins (2.) the posted total number of points expected to be scored by both teams in a given game, basketball, football, baseball, hockey, etc. (See also: 'TOTAL LINE')
PARLAY a bet that includes two or more events wherein the two (or more) events must both (or all) win for the bettor to collect. "I want to bet $100 on Team A to beat Team B, and if that happens I want to risk everything on Team C to beat Team D..."
PICK, PICK'EM a proposition in which both sides are considered equally likely to win (See also: 'TOSS-UP')
PLAYER a veteran bettor, an experienced gambler (See 'PUNTER')
POINTSPREAD the predicted margin of victory of the favored team in a sporting event over the underdog, allowing bettors to risk the same on either team. A bettor can "lay" the points with the favorite or "take" the points with the underdog
PRESS A BET to risk more than usual on a particular proposition, to add a second bet to an existing similar bet
PRICE the odds on a certain bet, usually the moneyline but also the pointspread
PUNTER a bettor (See 'PLAYER')
PUSH a tie bet, such as when a favorite that's favored by 3 points wins the game by precisely 3 points, or when a game with a posted total of 37 points ends with a total score of precisely 37 points
QUARTER $25
ROUND ROBIN a series of interrelated parlays. A 3-team round robin consists of 1 three-team parlay and 3 two-team parlays - Teams A & B are one parlay, Teams A & C, are the second parlay, and Teams B & C are the third parlay
RUBE an inexperienced gambler, an unsophisticated bettor, a sucker, a square
SCRATCH cancel
SIX-TO-FIVE LINE a forty-cent line; having to risk 120 to win 100 on either side of a proposition. The bookmaker keeps slightly less than 17 percent of the winnings as his commission. (See also: 'DIME LINE', 'MONEYLINE', 'POINTSPREAD', 'THIRTY-CENT LINE', 'TWENTY-CENT LINE' and 'WALK-INTO-THE-PROPELLOR')
SQUARE an inexperienced gambler (See 'RUBE')
STEAM (pronoun) unusually heavy action on one side of a proposition.....(verb) when a team is getting unusually heavy action it is said to be "steaming" or it is referred to as being a "steamer"
SUCKER BET a bet with an unusually high disadvantage to the bettor, or with an unusually high commission being charged by the bookmaker (See also: 'KENO')
TAP CITY a mythical place populated by destitute gamblers; the poorhouse
TAPPED OUT broke; busted
THIRTY-CENT LINE having to risk $115 to win $100 on either side of a proposition. The bookmaker keeps approximately 13 percent of the winnings as his commission (See also: 'DIME LINE', 'MONEYLINE,' 'POINTSPREAD' 'SIX-TO-FIVE LINE', 'TWENTY-CENT LINE')
TICKET the receipt which proves you laid a bet; the note you must present to collect your winnings
TICKET WRITER the 'teller', or counter person at a sportbook who accepts your bet, takes your money, and issues you a receipt to confirm the bet
TOSS-UP a game wherein the two teams are considered evenly matched (See 'PICK, PICK'EM')
TOTAL LINE the total runs, goals or points predicted to be scored by both teams in a sporting event; allowing bettors to bet the game will produce more total points than predicted ('over') or fewer total points than predicted ('under') (See also: 'OVER/UNDER')
TOUT, TOUT SERVICE a man (or business) that sells predictions on which team is going to win an upcoming sporting event (See also: 'FAITH HEALER')
TREND any series of events that appears to violate what might be considered normal expectations, such as when teams in blue uniforms beat teams in green uniforms 10 or 12 times out of the last 12 times, or when teams that played in New York win (or lose) the following week 10 or 12 times in a row, etc.
TWENTY-CENT LINE having to risk 110 to win 100 on either side of a proposition. The bookmaker keeps slightly more than 9 percent of the winnings as his commission - 4.55% of the total risked on both sides. (See also: 'DIME LINE', 'MONEYLINE,' 'POINTSPREAD' 'SIX-TO-FIVE LINE', 'THIRTY-CENT LINE')
TWO BITS $25 (See 'QUARTER')
VIG, VIGORISH from the French word vignes; the bookmaker's commission, similar to a stockbroker's commission or to a Realtor's commission; the percentage of total monies risked kept by the bookmaker after paying the winners; also known as the "juice"
WISEGUY a gambler or sports bettor recognized to be successful over the long term; an expert gambler or handicapper
ACTION the total amount risked on one or more bets. "I have $500 in action on baseball today," or, "I had two dimes in action yesterday."
BAD BEAT an improbable loss, such as due to a last-second Hail Mary pass or a bad official's call or an unlikely error, fumble, interception, missed foul shot, etc.
BAD WIN there is no such thing as a "bad win." Every win happens because you knew it would.
BANKROLL the total amount of money one has available for betting (See 'FANTASY')
BETTING SYSTEM any pre-planned method of sizing one's bets, usually based on recent events, designed to make more profit than you deserve (See 'TOO GOOD TO BE TRUE')
BOOKIE, BOOKMAKER the man who 'holds the money' between bettors, charging a commission for his service; like a banker, only a lot more honest (See also: 'HEARTLESS S.O.B.')
BUCK $100 (See also: 'DOLLAR')
CHALK the favorite; the team expected by the general betting public to win the game; the team requiring you to lay odds to bet on them
CHALK-EATER (1.) someone who bets on the favored team. (2.) someone who habitually bets on favorites
CIRCLED GAME a game or proposition with special limitations assigned to it by the bookmaker, usually due to special circumstances involving uncertain weather conditions, questions about who will play in the game, or other unusual conditions
COMP any gift from a casino or bookmaker to a customer, ranging from a free soft drink to a lunch buffet to show tickets to a free hotel room to free airline tickets to a suite of rooms to the-sky's-the-limit, all depending on the size of the customer's action
COVER (verb) a favored team covers when they win the game by more than the pointspread; an underdog covers when they either win the game outright or lose by less than the pointspread
DIME $1,000
DIME LINE having to risk 105 to win 100 on either side of a proposition. The bookmaker keeps slightly less than 5 percent of the winnings as his commission (See also: MONEYLINE, 'POINTSPREAD', 'SIX-TO-FIVE LINE', 'THIRTY-CENT LINE', 'TWENTY-CENT LINE')
DOG the team expected (according to the posted line) to lose the game; the underdog
DOLLAR $100
EDGE advantage
EXOTIC BET action other than a standard bet or simple parlay (See also: 'QUICKSAND')
FAVORITE the team expected to win the game, according to the posted odds; the team requiring you to lay odds to bet on them (See 'CHALK')
FORTY-CENT LINE having to risk 120 to win 100 on either side of a proposition. The bookmaker keeps slightly less than 17 percent of the winnings as his commission. (See also: 'DIME LINE', 'MONEYLINE', 'POINTSPREAD', 'SIX-TO-FIVE LINE', 'THIRTY-CENT LINE', 'TWENTY-CENT LINE', and especially 'STUPID GAMBLERS')
FUTURE BET, FUTURES a bet on something that will happen in the future, such as which team will eventually win the World Series or Super Bowl (See also: SKY-HIGH VIGORISH)
GAMER gambler (See also: 'PLAYER, PUNTER, HANDICAPPER')
GET DOWN place a bet
HANDICAP (pronoun) The predicted pointspread (margin of victory) or difference in odds between the favored team and the underdog. (verb) to study stats, conditions, etc., ultimately to predict the margin of victory between two sports teams
HANDICAPPER one who studies the teams and conditions in order to predict the outcome of a game, especially the probable margin of victory
HANDLE the total amount risked over a given period, or over a certain number of bets; the total of all action, especially the total at risk by a bookmaker (See also: 'ACTION')
HEDGE BET a bet in opposition to an existing bet, thereby reducing the total amount risked on a particular proposition (See also: 'BAD IDEA')
HOME FIELD ADVANTAGE the sum of the subjective advantages enjoyed by a team when playing in their own stadium or arena as opposed to having traveled to a strange town to play in a strange environment
HOOK the half-point added to a whole number pointspread, such as an NFL favorite laying 3.5 points rather than 3.0 points
JUICE the bookmaker's commission, similar to a stockbroker's commission, or to a Realtor's commission; the percentage of total monies risked kept by the bookmaker after paying the winners (See 'VIGORISH')
KELLY CRITERION a betting system wherein the bigger your estimated advantage, the higher your bet should be (See also: 'KAMIKAZE CRITERION')
LAY THE CHALK, LAY THE POINTS to place a bet on the favorite
LIMIT the maximum amount allowed by the bookmaker to be bet at the posted odds
LINE the posted odds on a sporting event, either the pointspread or the moneyline (See also: 'DIME LINE', 'MONEYLINE', 'FORTY-CENT LINE', 'POINTSPREAD', 'SIX-TO-FIVE LINE', 'THIRTY-CENT LINE', 'TWENTY-CENT LINE')
LIVE DOG an underdog that is considered to have a chance to win the game outright
LOCK, LOCK BET a bet that can't possibly lose; a sure thing, a bet that's already "locked away" before the game starts (See also, 'FAIRYTALE', 'SPORTS TOUT')
MARTINGALE BETTING SYSTEM in its simplest form the Martingale is a method wherein you risk one 'unit' and so long as you win your bet you continue risking one unit. When you do lose a bet, however, you double the size of the next bet, and if you lose again you redouble and keep doubling until you finally win a bet, whereupon you revert again to betting one unit. So long as you win one more bet before you die, of course, you cannot lose with this system - unless you go broke from redoubling your bets, - and you will most definitely go broke!
MIDDLE (verb) to win both sides of the same game, such as when betting on the favorite at -2.5 and also on the underdog at +3.5, then having the favorite win the game by precisely 3 points. (See also: 'BOOKMAKER'S NIGHTMARE')
MONEYLINE odds offered on a team to win a game outright, without taking or giving points as a handicap. A team listed as -150 means you must risk 150% of whatever you stand to win on that team - (15 to win 10, or 75 to win 50, or 100 to win 67, etc.) A team listed as being +150 means you must risk 66.67% of whatever you stand to win - (10 to win 15, or 50 to win 75, or 100 to win 150, etc.) See also: 'DIME LINE', 'SIX-TO-FIVE LINE', 'TWENTY CENT LINE')
NICKEL $500
OFF THE BOARD a game where no bets of any kind are being accepted by the bookmaker (See: 'CIRCLED GAME')
ONE-STAR, TWO-STAR, THREE-STAR a betting system employing various sizes of bets; usually espoused by sports touts to denote the strength of their opinion on assorted games. (See also: 'ONE-SUICIDE, TWO-SUICIDE. THREE SUICIDE.....')
OUT a bookmaker, often used to refer to an illegal bookmaker
OVER/UNDER (1.) the number of games a team is expected to win over an entire season, usually used in conjunction with NFL teams before the regular season begins (2.) the posted total number of points expected to be scored by both teams in a given game, basketball, football, baseball, hockey, etc. (See also: 'TOTAL LINE')
PARLAY a bet that includes two or more events wherein the two (or more) events must both (or all) win for the bettor to collect. "I want to bet $100 on Team A to beat Team B, and if that happens I want to risk everything on Team C to beat Team D..."
PICK, PICK'EM a proposition in which both sides are considered equally likely to win (See also: 'TOSS-UP')
PLAYER a veteran bettor, an experienced gambler (See 'PUNTER')
POINTSPREAD the predicted margin of victory of the favored team in a sporting event over the underdog, allowing bettors to risk the same on either team. A bettor can "lay" the points with the favorite or "take" the points with the underdog
PRESS A BET to risk more than usual on a particular proposition, to add a second bet to an existing similar bet
PRICE the odds on a certain bet, usually the moneyline but also the pointspread
PUNTER a bettor (See 'PLAYER')
PUSH a tie bet, such as when a favorite that's favored by 3 points wins the game by precisely 3 points, or when a game with a posted total of 37 points ends with a total score of precisely 37 points
QUARTER $25
ROUND ROBIN a series of interrelated parlays. A 3-team round robin consists of 1 three-team parlay and 3 two-team parlays - Teams A & B are one parlay, Teams A & C, are the second parlay, and Teams B & C are the third parlay
RUBE an inexperienced gambler, an unsophisticated bettor, a sucker, a square
SCRATCH cancel
SIX-TO-FIVE LINE a forty-cent line; having to risk 120 to win 100 on either side of a proposition. The bookmaker keeps slightly less than 17 percent of the winnings as his commission. (See also: 'DIME LINE', 'MONEYLINE', 'POINTSPREAD', 'THIRTY-CENT LINE', 'TWENTY-CENT LINE' and 'WALK-INTO-THE-PROPELLOR')
SQUARE an inexperienced gambler (See 'RUBE')
STEAM (pronoun) unusually heavy action on one side of a proposition.....(verb) when a team is getting unusually heavy action it is said to be "steaming" or it is referred to as being a "steamer"
SUCKER BET a bet with an unusually high disadvantage to the bettor, or with an unusually high commission being charged by the bookmaker (See also: 'KENO')
TAP CITY a mythical place populated by destitute gamblers; the poorhouse
TAPPED OUT broke; busted
THIRTY-CENT LINE having to risk $115 to win $100 on either side of a proposition. The bookmaker keeps approximately 13 percent of the winnings as his commission (See also: 'DIME LINE', 'MONEYLINE,' 'POINTSPREAD' 'SIX-TO-FIVE LINE', 'TWENTY-CENT LINE')
TICKET the receipt which proves you laid a bet; the note you must present to collect your winnings
TICKET WRITER the 'teller', or counter person at a sportbook who accepts your bet, takes your money, and issues you a receipt to confirm the bet
TOSS-UP a game wherein the two teams are considered evenly matched (See 'PICK, PICK'EM')
TOTAL LINE the total runs, goals or points predicted to be scored by both teams in a sporting event; allowing bettors to bet the game will produce more total points than predicted ('over') or fewer total points than predicted ('under') (See also: 'OVER/UNDER')
TOUT, TOUT SERVICE a man (or business) that sells predictions on which team is going to win an upcoming sporting event (See also: 'FAITH HEALER')
TREND any series of events that appears to violate what might be considered normal expectations, such as when teams in blue uniforms beat teams in green uniforms 10 or 12 times out of the last 12 times, or when teams that played in New York win (or lose) the following week 10 or 12 times in a row, etc.
TWENTY-CENT LINE having to risk 110 to win 100 on either side of a proposition. The bookmaker keeps slightly more than 9 percent of the winnings as his commission - 4.55% of the total risked on both sides. (See also: 'DIME LINE', 'MONEYLINE,' 'POINTSPREAD' 'SIX-TO-FIVE LINE', 'THIRTY-CENT LINE')
TWO BITS $25 (See 'QUARTER')
VIG, VIGORISH from the French word vignes; the bookmaker's commission, similar to a stockbroker's commission or to a Realtor's commission; the percentage of total monies risked kept by the bookmaker after paying the winners; also known as the "juice"
WISEGUY a gambler or sports bettor recognized to be successful over the long term; an expert gambler or handicapper
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