Sportsbook Glossary

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
Beard
Messenger bettor

Beef
Dispute Buck – $100

Chalk
Favorite

Chalk Eater
Favorite bettor

Churn
The effect of betting and rebetting money

Circle Game
Game where action is limited due to uncertainties about weather, injuries, etc.

Cover
In by more than the pointspread

Dime
$1000

Dollar
$100

Earn
Practical hold percentage

Edge
Advantage

Exotic Bet
Action other than a straight bet or parlay

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

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 pointspreads, 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 visting team.

Hoop
Basketball

Hot Tip
Information the bookmaker is not yet privy to

Juice
Bookmaker’s commission, most often refers to the 11 to 10 football bettors lay on straight wagers; vigorish

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

Longshot
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. Mutuel – 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 be a bookmaker divided by the total amount booked

Press
To bet a larger amount than usual

Price
Line

Puppy
Underdog

Push
Tie Round Robin – A series of parlays.

Round Robin
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 prices

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 smae game and the favorite wins by 3 you have SIDED the book. The book has been SIDED.

Square
Unsophisticated gambler

Steam
Heavy action on one side

Straight Bet
A bet on just on team

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

Theorical 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
Juice

Wiseguy
Established and successful sports bettor