Glossary
Glossary of bets offered by UK bookmakers
Contents
5 Full cover bets with singles
6 ‘Any to Come’ (ATC) or ‘if cash’ bets
USA
Aside from simple wagers—betting a friend that one’s favorite baseball team will win its division, for instance, or buying a football “square” for the Super Bowl–sports betting is commonly done through a bookmaker.
Proposition bets. These are wagers made on a very specific outcome of a match. Examples include guessing the number of goals each team scores in a handball match, betting whether a player will score in a football game, or wagering that a baseball player on one team will accumulate more hits than another player on the opposing team.
Parlays. A parlay involves multiple bets (usually up to 12) and rewards successful bettors with a large payout. For example, a bettor could include four different wagers in a four-team parlay, whereby he is wagering that all four bets will win. If any of the four bets fails to cover, the bettor loses the parlay, but if all four bets win, the bettor receives a substantially higher payout (usually 10-1 in the case of a four-teamer) than if he made the four wagers separately.
Progressive parlays. A progressive parlay involves multiple bets (usually up to 12) and rewards successful bettors with a large payout, but not as large as normal parlays. However in a progressive parley, unlike a regular parley, some of the bets can lose, and a reduced payout will still be made.
Teasers. A teaser allows the bettor to combine his bets on two or more different games. The bettor can adjust the point spreads for the two games, but realizes a lower return on the bets in the event of a win.
Run line, puck line or goal line bets. These are wagers offered as alternatives to straight-up/moneyline prices in baseball, hockey or soccer, respectively. These bets feature a fixed point spread that (usually) offers a higher payout for the favorite and a lower payout for the underdog (both in comparison to the moneyline). For example, the above-described Brewers/Cubs baseball game might offer a run line of Milwaukee -1.5 (+100) and Chicago +1.5 (-120). A bettor taking Milwaukee on the run line can avoid risking $200 to win $100 on the moneyline, but will collect only if the Brewers win by 2 runs or more. Similarly, a run line wager on the Cubs will pay if Chicago loses by no more than a run, but it requires the bettor to risk $120 to win $100.
Bettors may also wager on so-called alternate run, puck, or goal lines, which offer decreased payouts on the favorite and increased payouts on the underdog. Once again using the Brewers/Cubs baseball game as an example, a sportsbook might offer an alternate run line of Milwaukee +1.5 (-300) and Chicago +1.5 (+270).Future wagers.
While all sports wagers are by definition on future events, bets listed as “futures” generally have a long-term horizon measured in weeks or months; for example, a bet that a certain NFL team will win the Super Bowl for the upcoming season. Such a bet must be made before the season starts in September, and winning bets will not pay off until the conclusion of the Super Bowl in January or February (although many of the losing bets will be clear well before then and can be closed out by the book). Odds for such a bet generally are expressed in a ratio of units paid to unit wagered. The team wagered upon might be 50-1 to win the Super Bowl, which means that the bet will pay 50 times the amount wagered if the team does so.
Head-to-Head. In these bets, bettor predicts competitors results against each other and not on the overall result of the event. One example are Formula One races, where you bet on two or three drivers and their placement among the others. Sometimes you can also bet a “tie”, in which one or both drivers either have the same time, drop out, or get disqualified.
Totalizators. In totalizators (sometimes called flexible-rate bets) the odds are changing in real-time according to the share of total exchange each of the possible outcomes have received taking into account the return rate of the bookmaker offering the bet. For example: If the bookmakers return percentage is 90%, 90% of the amount placed on the winning result will be given back to bettors and 10% goes to the bookmaker. Naturally the more money bet on a certain result, the smaller the odds on that outcome become. This is similar to parimutuel wagering in horse racing and dog racing.
See also Sports betting systems
Odds
Odds for different outcomes in single bet are presented either in European format (decimal odds), UK format (fractional odds), or American format (moneyline odds). European format (decimal odds) are favoured in continental Europe, Canada, and Australia. They are the ratio of the full payout to the stake, in a decimal format. Decimal odds of 2.00 are an even bet. UK format (fractional odds) are favoured by British bookmakers. They are the ratio of the amount won to the stake. Fractional odds of 1/1 are an even bet. US format odds are favoured in the United States. They are the amount won on a 100 stake when positive and the stake needed to win 100 when negative. US odds of 100 are an even bet.
Terminology
| You don’t need an advanced degree to understand the language of sports gambling. Just refer to this page when you see an unfamiliar word or phrase.Across the Board – A method of wagering on a horse to win, place and show.Action – A baseball wager where no pitcher is specified. Also refers to the number of bets being placed on a certain event.
ATS (Against The Spread) – A method of referring to the result of an event that takes the pointspread into account. Also, the act of taking points rather than betting with the spread, or “laying” points. Bad Beat – A wager that loses unexpectedly. Beard – A friend or acquaintance used to place bets, to conceal the true identity of the real bettor. Book – An establishment that accepts bets on the outcome of sporting events. Bookmaker/Bookie – A person who takes wagers on sporting events. Buck – $100 (as in a “buck” bet). Buy (Points) – When a player pays an additional price to receive half a point or more in his favor on a pointspread game. Canadian Line – A combination pointspread and moneyline in hockey. Chalk – The favored team, athlete or horse. Chalk Player – Someone who usually only plays the favored teams, rarely betting on the underdogs. Also known as a “chalkeater.” Circled Game – A game where the limits are lowered, or betting options are restricted, usually due to injuries. Cover – To beat the pointspread by the required number of points. When you win, you have “covered the spread.” Dead Heat – When two or more horses finish in a tie. Dime – $1,000. Dime Line – A line where the juice is 10 percent. Dog – Short for “underdog.” Dog Player – A bettor who mostly plays the underdog. Dollar – $100. Double Action – An “if bet” that is processed when the precedent bet wins, ties or cancels. Double Bet – A wager for twice the size of one’s usual wager; also known as “double pop” or “doubling up.” Edge – A person’s advantage when it comes to sports betting. Even Money – A wager on which neither side lays any odds or vigorish. Exotic – Any wager other than a straight bet or parlay, also called a prop or proposition. Exposure – The maximum amount of money a sportsbook stands to lose on a game. Favorite – The team expected to win an event. The quoted odds reflect the extent to which the choice is favored. Fifty Cents – $50. Figure – The amount owed to or by a bookmaker. Final Four – The remaining four teams in the NCAA basketball tournament. First Half Bet – A bet placed only on the first half of the game. Futures – Bets placed on an event or outcome taking place some time in the future (e.g. betting during the season on the Super Bowl winner). Getting Down – Making a bet. Grand Salami – The grand total of goals scored in all the hockey games of the day. It can be wagered to go Over/Under. Half-A-Dollar – $50 Half Time Bet – A bet placed only on the second half of the game. Handicapper – One who studies and rates sporting events. Handicapping – The attempt to predict the outcome of sporting events. Usually involves research. Handle – The total amount of money bet on an event or group of events. Hedging – Placing wagers on the opposite side in order to cut losses or guarantee a minimum amount of winnings. Hook – A half-point. Hot Game – A game that is drawing a lot of action on one side from knowledgeable handicappers. Juice – The commission the bookie earns. Laying the Points – Betting the favorite by giving up points. Laying the Price – Betting the favorite by laying money odds. Layoff – Money bet by a house with another bookmaker to reduce its liability. Limit – The maximum amount a bookmaker will allow you to bet before he changes the odds and/or the points. Lines – Another word for odds. Linemaker – The person who establishes the original and subsequent betting lines. Also known as “oddsmaker.” Listed Pitchers – A baseball bet which will be placed only if both of the pitchers scheduled to start a game actually start. If they don’t, the bet is cancelled. Lock – An easy winner. Longshot – A team, athlete or horse perceived to be unlikely to win. Middle – To win both sides of the same contest in a sports betting event. Wagering on the underdog at one pointspread and the favorite at a different pointspread and winning both sides. Moneyline – A wager where no pointspread is involved. Move the Line – A player pays an additional price to receive half a point or more in his favor on a pointspread game. Nickel – $500. Nickel Line – A sports wagering line where the juice is five percent. No Action – A wager in which no money is lost nor won. Off the Board – A game that the bookmaker is not offering action on at that moment. Outlaw Line – The earliest line in sports betting. This is an overnight line that only a handful of players are allowed to bet into. Over/Under – A bet on whether the combined total of the points/goals scored by the two teams will exceed or be less than a specified number. Parlay – A bet on two or more teams or outcomes where the original stake and winnings are reinvested on the next wager. All selections must be correct for the parlay to win. In the event of a push or a game cancellation, the parlay reverts to the next lower number (e.g. a 4-team parlay becomes a 3-team parlay). Pick ‘em – A game where neither team is favored. Pointspread – The handicap, or head start, which the favorite gives to the underdog for betting purposes. Press – To wager a larger amount than usual. Prop (Proposition) Bet – A special wager offered by the sportsbook on unique and various topics. These wagers can be on sporting events, politics, and even trial outcomes. The wagers use the moneyline format of payoff odds and might include who scores the first touchdown in the Super Bowl, who will win the next presidential election, or whether or not someone on trial will be found guilty. Price – The odds or pointspread. Puckline – Giving odds of a goal spread in hockey instead of using a Canadian Line, where both a goal spread and moneyline are played. Puppy – The underdog. Push – When a contest ends with no winner or loser for wagering purposes. Round Robin – A series of three or more teams in 2-team parlays. Run down – All the lines for a specific date, sport, time, etc. Runline – In baseball, a spread used instead of the moneyline. Runner – One who places bets for another. Scouts – Person(s) who waits for what he thinks is an unusually strong wager. Also known as a “sports player.” Sharp – A sophisticated or professional gambler. Sides – The two teams or athletes playing – the underdog and the favorite. Single Action – An “if bet” that’s processed only if the precedent bet wins. Spread – An abbreviated form of “pointspread.” Square – A novice when it comes to sports betting. Steam – When a line starts to move rapidly. Most “steam games” do not necessarily reflect objective circumstances, but are games that draw a mass of bettors for some reason. Store – A bookie or sports betting establishment. Straight Bet – A wager on just one team, athlete or horse. Taking the Points – Betting the underdog and its advantage in the pointspread. Taking the Price – Betting the underdog and accepting money odds. Teaser – A bet on two or more teams where the line on each team is adjusted in the favor of the bettor. Like a parlay, all selections must be correct for the teaser to win. Ticket – A sports betting wager. Tie – A wager in which no money is lost nor won because the teams’ scores were equal to the number of points in the given line. Total – The combined amount of runs, points or goals scored by both teams during the game, including the overtime (see Over/Under). Totals Bet – A proposition bet in which the bettor speculates that the total score by both teams in a game will be more or less than the line posted by the sportsbook. Tout – Someone who sells his/her expertise on sports wagering. Under – A wager that the total points scored by two teams will be under a certain figure. Underdog – The team perceived to be most likely to lose. Also known as the “dog” for short. Value – Getting the best odds on a wagering proposition; the highest possible edge. Vigorish – The bookmaker’s commission on a losing bet; also known as “juice” or “vig” for short. Wiseguy – A well-informed or knowledgeable handicapper or bettor. |
