Encyclopedia
A comprehensive A-Z glossary of sports betting, casino, and lottery terminology. Every term explained with examples and key takeaways.
A
Accumulator
An accumulator is a single bet that links together two or more individual bets and is dependent on all of those bets winning for a return.
Across the Board
An across-the-board bet is a wager in horse racing that combines three separate bets on one horse: to win, to place, and to show.
Action
A bet or wager of any kind. Also refers to the total amount of money wagered.
Against the Spread (ATS)
Betting on a team to cover the point spread rather than simply win the game outright.
Ante Post
An ante-post bet is a wager placed on a future sporting event, often weeks or months in advance.
Arbitrage
Placing bets on all possible outcomes of an event across different sportsbooks to guarantee a profit regardless of the result.
Asian Handicap
Asian Handicap betting eliminates the draw option by giving a handicap to one team, creating a 50/50 outcome.
B
Backdoor Cover
When a team covers the point spread with a late, often meaningless score.
Bad Beat
A loss that occurs in an unlikely or devastating fashion, often when the bettor was heavily favored to win.
Banker Bet
A banker bet is a selection within a multiple bet that the bettor considers a near-certainty to win.
Bankroll
The total amount of money a bettor has set aside specifically for gambling.
Beard
A beard is a person who places bets on behalf of another bettor to conceal the true identity of the wagerer.
Beard
In the context of gambling, a 'beard' is an individual who places a bet on behalf of another person to hide the true identity of the actual bettor. This practice is often used by professional or successful gamblers who have been limited or banned by bookmakers, allowing them to continue placing wagers without detection.
Bet the Farm
Betting the farm means wagering an extremely large or reckless amount on a single bet, risking everything.
Betting Exchange
A betting exchange is a platform where bettors wager against each other rather than against a bookmaker.
Betting Ring
A betting ring is the area at a racetrack where bookmakers set up to take bets from the public.
Betting Slip
A betting slip is the physical or digital receipt confirming the details of a placed wager.
Betting Tax
A betting tax is a government-imposed levy on gambling activities or winnings.
Betting Unit
A betting unit is a standardized measure of the size of a bet, used to manage a betting bankroll effectively. It represents a certain percentage of the total bankroll, typically 1-2%. Using a unit system helps bettors maintain consistency in their wagering and track their performance over time, regardless of the actual monetary value of their bankroll.
Blind Bet
A blind bet is a forced wager made by one or more players before any cards are dealt. This is a fundamental component of many poker variations, such as Texas Hold'em and Omaha. The 'small blind' and 'big blind' are the two most common types of blind bets, and they rotate around the table to ensure that all players contribute to the pot.
Blocker
In poker, a 'blocker' is a card in a player's hand that reduces the number of possible strong hands an opponent can have. For example, holding an ace of a certain suit makes it less likely that an opponent has a flush in that suit. The concept of blockers is crucial for advanced hand reading and bluffing strategies.
Bluff
In poker, a bluff is a bet or raise made with a hand that is not considered to be the best. The goal of a bluff is to deceive opponents into folding a stronger hand, thereby winning the pot without a showdown. Bluffing is a key element of poker strategy and requires a good understanding of opponents' tendencies and the game situation.
Board Price
The board price refers to the odds displayed on the bookmakers' boards at a horse or greyhound racetrack. These are the current, live odds available from on-course bookmakers. When a bettor "takes the board price," they are accepting the odds shown at that exact moment, as opposed to taking the starting price (SP), which is determined at the beginning of the race.
Bonus Abuse
The act of strategically exploiting promotional offers from online gambling sites to gain an unfair advantage or guaranteed profit.
Book
A book, short for sportsbook or bookmaker, is an individual or establishment that accepts bets on sporting events and other outcomes.
Bookie
A person or organization that accepts and pays off bets on sporting events and other outcomes.
Bookie's Edge
The bookie's edge, also known as the margin, vigorish, or juice, is the built-in advantage or profit margin that a bookmaker includes in their odds. This ensures that the bookmaker makes a profit regardless of the outcome of an event. It's the reason why the total implied probability of all outcomes in a betting market is greater than 100%.
Bridge Jumper
A bridge jumper is a slang term in horse racing for a bettor who places a very large wager on a heavy favorite to show (finish in the top three). The potential profit is small, but the probability of winning is high. The term comes from the idea that if the horse fails to show, the bettor might as well 'jump off a bridge' due to the significant financial loss.
Buck
In gambling slang, a "buck" is a bet of $100. This term is commonly used in sports betting and other forms of wagering to refer to a standard, significant bet size. The term originates from the historical use of buckskins as a form of currency.
Bug
In some poker variations, a 'bug' is a joker that is added to the deck and acts as a limited wild card. It can typically be used as an ace, or to complete a straight or a flush. It cannot be used as any other card, which distinguishes it from a fully wild card.
Bullet
In poker, a 'bullet' is a slang term for an ace. A pair of aces as a starting hand is often referred to as 'pocket bullets' and is the best possible starting hand in Texas Hold'em. The term is also sometimes used to refer to a tournament buy-in, especially in the context of re-entry tournaments.
Buying Points
Paying extra juice to move the point spread in your favor by half a point or more.
C
Canadian Bet
A Canadian bet, also known as a Super Yankee, is a type of wager that involves five different selections in different events. The bet consists of 26 individual bets: 10 doubles, 10 trebles, 5 four-fold accumulators, and a five-fold accumulator. To get a return, at least two of the selections must be successful.
Carpet
In UK betting slang, "carpet" refers to odds of 3/1. The term is often used by bookmakers and experienced bettors. It can also refer to a traditional, upscale casino with carpets on the floor, as opposed to a "sawdust joint".
Cash Out
Cash Out is a feature offered by many online sportsbooks that allows bettors to settle a wager before the event has finished. The amount offered for cash out will fluctuate depending on the current state of the event. It allows bettors to lock in a profit or minimize a loss.
Catch
In lottery games, a "catch" refers to matching a drawn number with a number on your ticket. The more numbers you "catch," the larger the prize. In some contexts, particularly in older gambling slang, "catch" can also mean to win a large sum of money unexpectedly.
Chalk
The favorite in a betting matchup. Betting chalk means betting on the favorite.
Chalk Eater
A sports bettor who predominantly wagers on the favorites, or the 'chalk', often accepting lower payouts for a higher perceived chance of winning.
Chase
Chasing in gambling refers to the act of trying to win back money that has been lost, often by making larger and riskier bets. This is generally considered a dangerous and irrational betting strategy that can lead to significant financial problems. It is a common sign of problem gambling.
Cherry Picking
In the context of gambling, cherry picking refers to the practice of selectively choosing the most favorable bets or games. This can involve seeking out games with the best odds, taking advantage of promotional offers, or exploiting a bookmaker's mispriced lines. It is a strategy used by professional and astute gamblers to maximize their expected value.
Circled Game
A circled game is a sports betting event where the sportsbook lowers betting limits due to uncertainty, often because of player injuries or weather.
Closing Line Value (CLV)
A measure of whether you consistently beat the closing line — the most efficient odds available just before an event starts.
Cold Number
A cold number is a number that has not appeared in a lottery or other game of chance for a long time. Some players believe that cold numbers are more likely to be drawn in the future, while others believe that each draw is independent and the concept of cold numbers is irrelevant. This is an example of the gambler's fallacy.
Color Up
In a casino, to color up is to exchange smaller denomination chips for larger denomination chips. This is typically done when a player is leaving a table or wants to consolidate their chips for easier handling. It is a common courtesy to color up before leaving a table to make it easier for the dealer and other players.
Combination Bet
A combination bet is a type of wager that involves multiple selections, where not all selections need to win for the bettor to receive a payout. This is a broad category that includes system bets like a Trixie, Yankee, or Canadian. These bets offer a higher chance of winning than a standard accumulator but with lower potential payouts.
Come Bet
In the game of craps, a come bet is a wager made after the point has been established. It is similar to a pass line bet, but it is made on the next roll of the dice. If the next roll is a 7 or 11, the come bet wins. If it is a 2, 3, or 12, the come bet loses. Any other number becomes the 'come point'.
Comp Points
Comp points, short for complimentary points, are rewards given to players by casinos for their loyalty and continued play. These points can usually be redeemed for cash, bonuses, or other perks like free meals, hotel stays, or merchandise. The rate at which comp points are earned varies depending on the game and the amount wagered.
Comps
Complimentary rewards given by casinos to players based on their level of play, including free rooms, meals, and show tickets.
Contrarian Betting
A strategy that involves betting against the public consensus, based on the theory that the public is often wrong.
Correct Score
A correct score bet is a wager on the exact final score of a sporting event. This is a difficult bet to win, but it offers high odds and potential payouts. It is a popular bet in sports like football (soccer) and tennis.
Correlated Parlay
A correlated parlay is a type of parlay bet where the outcomes of the individual legs are related to each other. For example, betting on a team to win and the same team to score the first goal. Bookmakers often restrict or disallow correlated parlays because they can give the bettor a significant advantage.
Counter
In gambling, a counter is a player who uses a strategy to gain an advantage over the casino. The most common example is a card counter in blackjack, who keeps track of the cards that have been dealt to determine when the remaining deck is favorable to the player. Casinos actively look for and may ban counters.
Coup
In gambling, a coup is a successful and often large bet or a series of successful bets. It can also refer to a clever or unexpected move that results in a win. The term is often used to describe a significant and memorable win against the odds.
Cover
When a team wins by enough points to beat the point spread.
Craps
A casino dice game where players bet on the outcome of rolls. Features some of the best and worst bets in the casino.
Credit Bet
A credit bet is a wager made on credit, rather than with cash. This is a practice that is generally discouraged and is often illegal in regulated gambling environments. It can lead to serious debt problems for the bettor and is a sign of problem gambling.
Crossover
In sports betting, a crossover is a type of bet that involves two different sports. For example, a bettor might parlay the winner of a football game with the winner of a basketball game. These bets can be a fun way to combine interest in multiple sports.
D
Daily Double
A Daily Double is a type of bet in horse racing where the bettor must correctly select the winners of two consecutive races. This is a popular bet that offers higher payouts than a simple win bet. Many tracks offer a 'rolling' Daily Double, where a new Daily Double is offered in each race.
Dark Horse
In sports and horse racing, a dark horse is a competitor that is not expected to win but has a chance of doing so. Betting on a dark horse can be very profitable if they pull off an upset victory. The term comes from horse racing, where a horse that is not well known to the public is a 'dark' horse.
Dead Heat
A dead heat is a term used in sports betting to describe a situation where two or more competitors tie for a particular finishing position in an event.
Dime
In gambling slang, a 'dime' refers to a bet of $1,000. This term is commonly used by high-stakes bettors and bookmakers. A 'nickel' is a $500 bet.
Dime Line
A dime line is a betting line with a 10-cent straddle on the moneyline, most commonly found in baseball.
Dog
Short for underdog — the team or player expected to lose a matchup.
Dog Player
A 'dog player' is a bettor who predominantly places wagers on the underdog in a given sporting event. This strategy involves betting on the team or individual less likely to win, which offers higher potential payouts.
Dollar Bet
In sports betting jargon, a 'dollar bet' refers to a wager of $100. This term is commonly used between bettors and bookmakers to quickly and clearly communicate the amount of the wager.
Don't Come Bet
In the game of craps, a 'Don't Come Bet' is a wager made after the come-out roll has established a point. It is a bet that the shooter will roll a 7 before they roll the point number again.
Don't Pass
A 'Don't Pass' bet is a fundamental wager in craps placed on the 'Don't Pass Line' before the come-out roll. A player making this bet is wagering that the shooter will 'seven out' (roll a 7) before rolling the point number again. On the come-out roll, a Don't Pass bet wins if a 2 or 3 is rolled, and loses if a 7 or 11 is rolled. A 12 is a push.
Double Chance
A 'Double Chance' is a popular betting option in soccer that allows a bettor to cover two of the three possible outcomes in a match with a single wager. The options are: Team A wins or draws, Team B wins or draws, or Team A wins or Team B wins.
Double Down
In blackjack, doubling your initial bet in exchange for receiving exactly one more card.
Double or Nothing
'Double or Nothing' is a type of wager where the outcome is either the doubling of a previous loss or the cancellation of that debt. It's a high-stakes bet often made by a player who has just lost a wager, in an attempt to recoup their losses in a single bet.
Draw (Lottery)
The event where lottery numbers are randomly selected, determining winners.
Draw No Bet
A betting market that removes the outcome of a draw, refunding stakes if the match ends in a tie.
Drift
In betting, 'drift' refers to the lengthening of a selection's odds (the price gets bigger). This usually happens when there is a lack of market confidence in the selection, and bookmakers increase the odds to attract more bets and balance their books.
Drop
In the context of betting, a 'drop' refers to a decrease in the odds of a particular outcome. This often happens when a large amount of money is wagered on a selection, causing bookmakers to shorten the price to reduce their liability.
Dutch Betting
Dutch Betting, or 'dutching,' is a strategy where a bettor backs multiple selections in the same event to ensure an equal profit regardless of which selection wins. This is achieved by calculating the stake for each bet so that the potential return is the same for each outcome.
E
Each Way
An Each Way bet is a two-part wager, with one part on the selection to win and the other on the selection to place.
Early Cash Out
Early Cash Out is a feature offered by many bookmakers that allows bettors to settle a bet before the event has concluded. The amount offered for cash out is based on the live odds and can be more or less than the original stake, allowing bettors to lock in a profit or minimize a loss.
Edge
A mathematical advantage over the opposing side. The house has an edge in casino games; sharp bettors seek an edge in sports betting.
Edge Sorting
Edge sorting is a controversial advantage play technique used in casino card games like baccarat and blackjack. It involves identifying subtle, unintentional differences on the backs of playing cards to gain an advantage over the house.
Eight Ball
In some gambling contexts, particularly in the United States, an 'Eight Ball' is slang for a bet of $800.
Encash
Encash, in a betting context, is another term for cashing out or redeeming a winning bet for its monetary value. It is the process of converting a successful wager into actual funds.
European Handicap
European Handicap is a form of handicap betting where the draw is a possible outcome. A whole number of points or goals is given as a handicap to one of the teams, and the bettor can bet on a home win, draw, or away win after the handicap is applied.
Even Money
An even money bet is a wager that pays out at a 1-to-1 ratio, meaning the potential profit is equal to the amount of the original stake.
Exacta
An Exacta is a popular wager in horse racing where the bettor must correctly predict the first and second place finishers in a race, in the exact order. It is also known as a 'perfecta' in some regions.
Exotic Bet
An Exotic Bet is any wager other than a straight win, place, or show bet, typically involving multiple outcomes or horses. These bets are more complex and offer higher potential payouts, but are also more difficult to win.
Expected Value (EV)
The average amount a bettor can expect to win or lose per bet if the same bet were placed many times. Positive EV (+EV) bets are profitable long-term.
Exposure
In sports betting, exposure refers to the total amount of money a bookmaker stands to lose on a particular event or outcome. It is the bookmaker's financial liability and a key factor in how they manage their odds and betting lines.
F
Face Cards
Face cards are the King, Queen, and Jack in a standard deck of 52 playing cards. In many card games, such as blackjack and poker, face cards have a specific value, often 10.
Fade
In sports betting, to 'fade' a team or a bettor is to bet against them. It is a strategy of wagering on the opposite outcome of what a particular person or the general public is betting on.
False Favorite
A False Favorite is a team or competitor that is favored to win an event but is considered by some bettors to be overvalued. These are often popular teams that attract a lot of public money, driving their odds down to a point where they no longer represent good value.
Fast Market
A fast market is a type of in-play bet that allows wagering on specific, short-term events within a game or match. These markets are settled quickly, often within minutes or even seconds of the bet being placed.
Favorite
The team, player, or outcome expected to win. Indicated by negative odds on the moneyline.
Favorite-Longshot Bias
The favorite-longshot bias is a market inefficiency where favorites are under-bet and longshots are over-bet, leading to favorites having higher than expected returns and longshots having lower than expected returns. This bias is often attributed to bettors' risk-seeking behavior.
Field Bet
In craps, a field bet is a one-roll bet that the next roll will be a 2, 3, 4, 9, 10, 11, or 12. It pays even money for 3, 4, 9, 10, and 11, and typically pays double or triple for 2 and 12.
Fifth Street
In stud poker games, Fifth Street is the fifth card dealt to each player and marks the third round of betting. In community card games like Texas Hold'em and Omaha, it is the fifth and final community card, also known as the river.
Figure
In betting terminology, a 'figure' refers to a specific amount of money, usually a round number like $100 or $1,000. It is often used by bookmakers and professional bettors.
Fire Bet
A Fire Bet is a side bet in craps that pays out if a shooter makes a certain number of different points before sevening out. The more unique points made, the higher the payout.
First Basket
A popular bet in basketball where you wager on which player will score the first basket of the game. This can also be expanded to which team will score the first basket.
First Five
A bet on the outcome of the first five innings of a baseball game. This is similar to a moneyline, run line, or totals bet, but only for the first half of the game.
First Goal Scorer
A bet on which player will score the first goal in a soccer or hockey game. This is a popular player proposition bet with attractive odds.
First Half Bet
A wager placed on the outcome of only the first half of a sporting event, settled at halftime.
First Touch
In sports betting, particularly for soccer, a 'first touch' bet is a wager on which team will have the first touch of the ball after kickoff. It is a niche market offered by some bookmakers.
Fixed Odds
A betting system where the odds are agreed upon at the time the bet is placed and do not change.
Flat Betting
A bankroll management strategy where you bet the same amount on every wager regardless of confidence level.
Floating
In poker, floating is an advanced bluffing technique where a player calls a bet on one street with a weak hand, with the intention of betting and taking down the pot on a later street if their opponent shows weakness.
Floor
In a casino or poker room, the 'floor' or 'floorman' is the supervisor who makes rulings and decisions in disputes. Their decision is final.
Flush
In poker, a flush is a hand that contains five cards all of the same suit, but not in a sequence. It is a strong hand, ranking above a straight and below a full house.
Fold
In poker, to fold is to discard one's hand and forfeit interest in the current pot. A player who folds is not required to contribute any further bets to the pot.
Forecast
A forecast bet, common in horse and greyhound racing, is a wager on predicting the first and second place finishers in the correct order. A reverse forecast allows the two selections to finish in either order.
Form
In sports betting and horse racing, 'form' refers to a competitor's recent performance and results. Bettors analyze form to help predict future outcomes.
Four-Fold
A four-fold is a type of accumulator or parlay bet that consists of four separate selections. All four selections must win for the bet to be successful.
Free Bet
A free bet is a promotional offer from a bookmaker that allows a bettor to place a wager without risking their own money. The stake is not returned with the winnings.
Free Card
In poker, a free card is a card dealt to a player's hand on a betting round where no player opened the betting, allowing them to see the next card without having to call a bet.
Freezeout
A freezeout is the most common type of poker tournament. In a freezeout, players start with a fixed number of chips, and once they lose all their chips, they are eliminated from the tournament. There are no rebuys or re-entries.
Front Runner
A front-runner is a horse that has a running style of starting quickly to get on or near the lead at the start of the race and stay there for as long as possible. This term is most commonly used in horse racing.
Full Cover Bet
A full cover bet is a wager that consists of all possible multiple bets over a given number of selections. This type of bet increases the chances of a return, as not all selections need to win.
Full Ring
A full ring game in poker is a cash game with more than six players, typically nine or ten. This is the standard for live poker games and is known for a tighter and more conservative style of play.
Futures
A bet on an event that will be decided in the future, such as which team will win the championship.
Futures Market
In sports betting, a futures market is a market where you can bet on the outcome of an event that will happen in the future, such as the winner of a championship. These markets are available long before the event starts.
G
Gambler's Fallacy
The mistaken belief that past random events affect the probability of future random events.
Gambler's Ruin
Gambler's ruin is a statistical concept that demonstrates that a gambler with a finite amount of money playing a game with a negative expected value will eventually go broke, regardless of their betting system.
Gap Concept
The Gap Concept is a poker principle that states you need a better hand to call a raise than you do to make the initial raise. This is because the original raiser has already shown strength.
Getting Down
Getting down is a slang term in sports betting that means to place a bet. It is commonly used in the United States.
Getting Value
In poker, getting value means betting in a way that maximizes your winnings when you believe you have the best hand. The goal is to get your opponent to call with a worse hand.
Goliath Bet
A Goliath bet is a type of full cover bet that consists of 247 bets on 8 selections in different events. It is a massive wager that includes 28 doubles, 56 trebles, 70 four-folds, 56 five-folds, 28 six-folds, 8 seven-folds and an eight-fold accumulator.
Grand Salami
A single wager on the total combined score of every game on a given day's schedule for a specific league.
Green
In sports betting, being in the green means that you are profitable. It is a term used to describe a positive return on investment.
Grind
A disciplined, long-term approach to betting that focuses on small, consistent edges rather than big scores.
Gross Win
Gross win is the total amount of money won from betting activities before any deductions for expenses, such as the original stake. It is the total revenue generated from wagers.
Guarantee
In poker tournaments, a guarantee is the minimum prize pool that is promised to be paid out to the players, regardless of the number of entrants. If the buy-ins do not cover the guarantee, the tournament organizer makes up the difference.
Gutshot
A gutshot, or inside straight draw, is a poker hand that is one card away from being a straight, where the missing card is in the middle of the sequence. For example, holding 8-7-5-4, you need a 6 to complete the straight.
H
Half Ball
In sports betting, a half ball is a type of handicap or spread that is expressed in halves to avoid the possibility of a push (a tie). For example, a team might be favored by -0.5 goals.
Half Time Full Time
A half time/full time bet is a wager on the result of a match at both half time and full time. There are nine possible outcomes for this type of bet.
Handicap Betting
Handicap betting, also known as spread betting, is a type of wager where one team is given a virtual advantage or disadvantage to level the playing field. This is common in sports where there is a significant difference in ability between the two teams.
Handicapper
A person who studies and analyzes sporting events to predict outcomes and find profitable betting opportunities.
Handle
The total amount of money wagered on an event or at a sportsbook over a given period.
Hardway
In the game of craps, a hardway bet is a wager that a specific number (4, 6, 8, or 10) will be rolled as a pair of identical dice before it is rolled any other way or a 7 is rolled. For example, a hard 8 is a pair of 4s.
Head to Head
A head-to-head bet is a wager on the outcome of a competition between two participants. This is common in sports like golf, tennis, and motorsports, where you are betting on one individual to finish ahead of another.
Heat
In poker, heat refers to the pressure that is put on a player by the casino or other players for suspected cheating or collusion. It can also refer to the scrutiny a player is under from the authorities.
Heinz Bet
A Heinz bet is a type of full cover bet that consists of 57 bets on 6 selections in different events. It is named after the Heinz company's '57 varieties' slogan and includes 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and a six-fold accumulator.
Hold
The percentage of the total handle that the sportsbook keeps as profit.
Hook
A hook is the half-point (0.5) added to point spreads and totals in sports betting to avoid a push (tie).
Hot Hand Fallacy
The belief that a person who has experienced success has a greater chance of further success in additional attempts.
House Edge
The mathematical advantage the casino or sportsbook has over the player, expressed as a percentage of each bet.
I
J
Jackpot
The top prize in a lottery or slot machine, often accumulating over time until won.
Juice
Another term for vigorish (vig) — the commission charged by the sportsbook on every bet.
Juice Bet
The "juice" is the commission a sportsbook charges for taking a bet, also known as the "vig" or "vigorish". This fee ensures the sportsbook makes a profit regardless of the outcome and is typically factored into the odds.
K
Kelly Criterion
A mathematical formula for determining the optimal bet size based on your perceived edge and the odds offered.
Keno
Keno is a lottery-like game played in casinos and online, where players select numbers (typically from 1 to 80). Twenty numbers are then drawn randomly, and players are paid out based on how many of their selected numbers match the drawn numbers.
Key Number
In sports betting, particularly in football, a key number is a common margin of victory. The most common key numbers are 3 and 7, as many games end with a score difference of a field goal or a touchdown.
Key Numbers
In football betting, the most common margins of victory (3 and 7) that significantly impact point spread betting.
Kick Back
A kick back, often referred to as a rebate or cashback, is a type of promotion where a portion of a player's losses or total wagers is returned to them. This is a common loyalty incentive offered by casinos and online betting sites.
Knockout Bet
A knockout bet is a wager placed on a fighter to win a combat sports match by knockout. This is a specific type of method-of-victory bet and typically offers higher odds than a simple moneyline bet on the fighter to win.
L
Lame Duck
In poker, a lame duck is a player who is all-in and cannot win the main pot, but can still win a side pot. This situation occurs when a player is all-in for less than the full bet or raise of other players in the hand.
Last Longer
A last longer bet is a side bet made between two or more players in a poker tournament. The player who remains in the tournament the longest wins the bet. It's a private wager independent of the official tournament prize pool.
Lay Bet
A lay bet is a wager that a particular outcome will not happen. This is the opposite of a traditional back bet, where you bet on an outcome to occur. Lay betting is a key feature of betting exchanges.
Lay the Points
Laying the points means betting on the favorite in a point spread market. To win the bet, the favorite must win the game by a margin greater than the point spread.
Layoff
In sports betting, a layoff is a bet made by one bookmaker with another to reduce their liability on a particular outcome. This is a way for bookmakers to balance their books and avoid a large potential loss.
Lengthen
In betting, to lengthen means for the odds on a particular outcome to increase. This usually happens when there is a lack of betting interest in the outcome or when new information emerges that makes the outcome less likely.
Limit
A limit in gambling refers to the minimum or maximum amount of money a player can wager on a single bet, hand, or in a specific timeframe.
Line Movement
Changes in the odds or point spread between when a line opens and when the event starts.
Line Shopping
Comparing odds across multiple sportsbooks to find the best available price before placing a bet.
Listed Pitcher
In baseball betting, a listed pitcher is the starting pitcher for a team that is specified at the time the bet is placed. If the listed pitcher does not start the game, the bet is typically voided or 'no action'.
Live Betting
Live betting, also known as in-play betting, allows you to place wagers on an event after it has already started. The odds are updated in real-time based on the action in the game.
Live Odds
Live odds are real-time, dynamic prices for a wager on a sporting event that is already in progress, constantly updating to reflect the current state of the game.
Lock
A "lock" is a bet that is considered to be a guaranteed win, often due to a significant mismatch in skill between the competitors.
Long Ball
In sports, a long ball refers to a pass or shot that covers a long distance. In betting, a 'long ball' bet is a wager on a high-risk, high-reward outcome, similar to a longshot.
Longshot
A longshot is a team or individual that is considered very unlikely to win. Betting on a longshot offers a large potential payout, but the probability of winning is low.
Look Ahead Line
A look ahead line is an early point spread or odds for a game that is not scheduled to be played in the immediate future. These lines are released by sportsbooks to gauge early betting interest and can change significantly as the game approaches.
Lottery Pool
A lottery pool is a group of people who combine their money to buy multiple lottery tickets, with an agreement to share the winnings if any of the tickets are successful. This increases the chances of winning without having to spend a large amount of money individually.
Lottery Syndicate
A group of people who pool their money to buy more lottery tickets, sharing any winnings proportionally.
Lottery Wheeling
Lottery wheeling is a system of picking a set of numbers and playing them in various combinations to increase the chances of winning a prize. It's a strategy used by some lottery players to cover more possible winning combinations.
Low Roller
A low roller is a gambler who wagers small amounts of money. This is in contrast to a high roller, who bets large sums. Casinos often cater to low rollers with low-stakes tables and slot machines.
Lucky 15
A Lucky 15 is a type of combination bet that consists of 15 bets on four selections in different events. The 15 bets are: 4 singles, 6 doubles, 4 trebles, and 1 four-fold accumulator. A single winner can generate a return.
M
Martingale System
A betting system where you double your bet after every loss, theoretically recovering all losses with one win. It doesn't work long-term.
Matched Betting
Matched betting is a technique to profit from free bets and promotions by placing bets on all possible outcomes of an event, effectively removing risk.
Middle
Betting both sides of a game at different point spreads, creating a window where both bets can win.
Moneyline
A bet on which team or player will win the game outright, without a point spread.
N
O
Off the Board
A game or event that a sportsbook has temporarily removed from its betting menu, making it unavailable for wagering.
Over/Under (Total)
A bet on whether the combined score of both teams will be over or under a number set by the sportsbook.
Overlay
An overlay is a betting opportunity where the odds are more favorable than the true probability, offering positive expected value (+EV) to the bettor.
P
Pace Handicapping
A method of handicapping in horse racing that focuses on the running style of each horse and the probable pace of the race. It helps predict which horse will have a tactical advantage based on how the race is likely to unfold.
Pair
In poker, a pair is a hand containing two cards of the same rank. It is one of the fundamental poker hands and its strength depends on the rank of the paired cards and the kicker.
Pari-Mutuel
Pari-mutuel betting is a system where all bets are pooled, the house takes a commission, and the remaining money is shared among the winners, with odds determined by the betting public.
Parlay
A single bet that combines two or more individual wagers. All selections must win for the parlay to pay out.
Parlay Card
A physical or digital card offered by sportsbooks that lists a series of games and their point spreads or odds. Bettors can select multiple teams to win, creating a parlay bet with a potentially high payout.
Parlay Insurance
A promotion offered by some sportsbooks that provides a refund or a free bet if a bettor loses a parlay by only one leg. This reduces the risk of placing multi-leg parlays.
Pass Line
A fundamental bet in the game of craps, made on the come-out roll. A Pass Line bet wins if the shooter rolls a 7 or 11 and loses if they roll a 2, 3, or 12.
Past Performance
A compilation of a horse's racing history, including information on previous races, finishing positions, speed figures, and other data. It is a critical tool for handicapping horse races.
Patent Bet
A type of multiple bet that consists of seven bets on three different selections. It includes three singles, three doubles, and one treble, providing a return even if only one selection wins.
Pay Table
A chart displayed on a slot machine or video poker machine that shows the payouts for each winning combination of symbols. It is essential for understanding the potential winnings of a game.
Payout Percentage
Also known as the Return to Player (RTP), this is the percentage of all wagered money that a slot machine or casino game will pay back to players over time. A higher payout percentage is more favorable for the player.
Penny Line
A moneyline in baseball betting where the difference between the favorite and the underdog is only 10 cents. This is a type of dime line, offering better value to bettors.
Percentage Player
A bettor who consistently makes wagers that have a positive expected value (+EV). They focus on making mathematically sound bets rather than relying on gut feelings or biases.
Pick 3
A type of wager in horse racing or lottery where the bettor must correctly select the winners of three consecutive races or numbers. It offers a higher payout than a single bet but is more difficult to win.
Pick 4
Similar to a Pick 3, a Pick 4 requires the bettor to select the winners of four consecutive races or numbers. The payouts for a successful Pick 4 can be substantial.
Pick 6
A challenging wager in horse racing or lottery that requires selecting the winners of six consecutive races or numbers. Winning a Pick 6 often results in a life-changing jackpot payout.
Pick'em
A Pick'em is a sports betting scenario where two teams are considered evenly matched, with no point spread and bettors simply picking the outright winner.
Pigeon
A slang term for an uninformed or unsophisticated bettor who is likely to make poor betting decisions. Sharp bettors often profit from the predictable mistakes made by pigeons.
Place Bet
A bet in horse racing where the selected horse must finish in either first or second place. It offers a lower payout than a win bet but has a higher chance of success.
Player Props
Player proposition bets are wagers on the statistical performance of a specific player in a game. These can include bets on points scored, yards gained, or other individual achievements.
Pleaser
A type of parlay bet in sports betting where the bettor gets a higher payout in exchange for moving the point spread against their favor. It is the opposite of a teaser.
Pocket Cards
In community card poker games like Texas Hold'em, pocket cards (or hole cards) are the private cards dealt face down to each player. These are the cards that only the player can see and use.
Point Buy
An option in sports betting that allows a bettor to adjust the point spread in their favor in exchange for a higher price (juice). This can increase the chances of winning a bet.
Point Spread
A number set by oddsmakers that represents the expected margin of victory. The favorite must win by more than the spread.
Point Spread Betting
Point spread betting is a form of wagering where the bet is on the margin of victory in a game. The favorite is assigned a negative point spread, which they must win by for a bet on them to be successful, while the underdog is given a positive point spread.
Pool Betting
Pool betting, also known as parimutuel betting, is a system where all bets of a particular type are placed together in a pool. The winners share the pool of money, after taxes and a 'house-take' are deducted.
Position
In poker and other card games, 'position' refers to a player's location at the table relative to the dealer button. Acting after other players is considered being 'in position' and is a strategic advantage.
Positive Expected Value
A bet has a positive expected value (+EV) when the probability of it winning is greater than the odds offered by the sportsbook imply. Consistently making +EV bets is a key strategy for long-term profitability in sports betting.
Post Time
Post time is the scheduled start time of a horse race. All betting on that race is closed at post time.
Pot Limit
Pot limit is a betting structure in poker where the maximum a player can bet or raise is the total amount of money in the pot at that time. This includes the active pot, all previous bets on the current street, and the amount the active player must first call before raising.
Pot Odds
In poker, the ratio of the current pot size to the cost of a contemplated call, used to determine if a call is mathematically correct.
Power Rating
A power rating is a numerical value assigned to a team in a particular sport to represent its strength. Bettors and oddsmakers use power ratings to create their own point spreads and identify value in the betting market.
Powerball
A multi-state lottery game with jackpots starting at $20 million. Players pick 5 numbers from 69 and 1 Powerball from 26.
Press
To 'press' a bet means to wager a larger amount than usual, or to double a previous bet. In some contexts, like golf betting, it can also refer to starting a new, concurrent bet for the same stakes as the original wager.
Price
In betting, the 'price' refers to the odds or the payout of a particular wager. It represents the amount a bettor can win relative to their stake.
Progressive Jackpot
A progressive jackpot is a prize pool for a slot machine or other casino game that increases each time the game is played but the jackpot is not won. A small percentage of each wager contributes to the jackpot, which can grow to be very large.
Progressive Parlay
A progressive parlay is a type of parlay bet that allows for some incorrect selections and still pays out. Unlike a traditional parlay where every leg must win, a progressive parlay offers reduced payouts for a certain number of losses.
Prop Bet
A bet on a specific occurrence within a game that doesn't directly relate to the final outcome, such as player stats or game events.
Prop Builder
A prop builder is a tool offered by some sportsbooks that allows bettors to create their own proposition bets. Bettors can combine various player and game props into a single wager.
Proposition Player
A proposition player, or 'prop,' is someone hired by a casino to help start or fill seats in a poker game. They play with their own money but are compensated by the casino for their time.
Public Bet
The 'public bet' refers to the side of a wager that the majority of the general betting public is on. Often, sharp or professional bettors will bet against the public.
Public Money
Public money refers to the total amount of money wagered by the general public on a particular event or outcome. This is often contrasted with 'sharp money,' which comes from professional bettors.
Pull Tab
A pull-tab is a type of lottery ticket where a player pulls back a perforated tab to reveal symbols or numbers. A winning ticket has a combination of symbols that matches a predetermined prize list.
Puppy
In betting, 'puppy' is a slang term for the underdog in a matchup. It is the team or player that is not expected to win.
Push
A push is a tie between the bettor and the house, resulting in the refund of the original stake.
Push Notification
A push notification is a message that pops up on a mobile device from a betting app. These notifications can alert bettors to promotions, live betting opportunities, or the results of their wagers.
Q
Quarter Bet
A quarter bet is a wager placed on the outcome of a single quarter of a game, such as football or basketball. These bets are independent of the final score of the game.
Quick Pick
A quick pick is a feature in lottery games where the lottery terminal randomly selects the numbers for the player. This is an alternative to the player choosing their own numbers.
Quinella
A bet type, most common in horse racing, where the bettor selects two horses to finish in first and second place in any order. As long as the two selected horses are the top two finishers, the bet is a winner.
R
Rabbit
In poker, a 'rabbit hunt' is the act of revealing the cards that would have been dealt if a hand had not been folded. This is generally discouraged as it can give information to other players.
Rag
In poker, a 'rag' is a low-value community card that is unlikely to improve any player's hand. These cards are often insignificant to the outcome of the hand.
Rainbow
In poker, a 'rainbow' flop is one where the three community cards are all of different suits. This makes it impossible for any player to have a flush after the flop.
Rake
The commission fee taken by a casino or cardroom from a poker pot. It is the primary source of revenue for the house in a poker game.
Random Number Generator
A computational or physical device designed to generate a sequence of numbers or symbols that cannot be reasonably predicted. In gambling, RNGs are used to ensure the fairness and randomness of outcomes in slot machines and online casino games.
Rank
The numerical value of a playing card. In most games, the Ace has the highest rank, followed by the King, Queen, Jack, and then the numbered cards.
Rated Player
A casino customer whose gambling activity is tracked by the casino. This is typically done through a player's card, and the casino uses the data to award comps and other rewards.
Ready
A term indicating that a participant in a race or event is in position and prepared to start. In betting, all wagers are typically voided on a participant who is not ready at the start of the event.
Rebate
A partial refund of a player's net losses or a percentage of their total wagers over a specific period. Rebates are a common promotion offered by casinos and sportsbooks to reward loyal players.
Recreational Bettor
A casual gambler who bets for entertainment and enjoyment rather than as a primary source of income. Recreational bettors are the target audience for most sportsbooks and casinos.
Red Zone
In American football, the area of the field between the opponent's 20-yard line and the end zone. It is a critical area for scoring, and many proposition bets are offered on red zone performance.
Regression to Mean
A statistical concept that suggests that an outcome that is extreme on a first measurement will be closer to the average on a second measurement. In betting, this means that a team or player with an unusually high or low performance is likely to perform closer to their average in the future.
Reload Bonus
A bonus offered to existing customers when they make a subsequent deposit into their account. Reload bonuses are a way for gambling sites to encourage customer loyalty.
Rematch
A second or subsequent game or contest between the same two opponents. Rematches often have a different dynamic than the first meeting, as both sides have a better understanding of each other's strategies.
Repechage
A practice in some multi-stage competitions that allows participants who have lost a heat to have another chance to qualify for the next round. This is common in sports like rowing and wrestling.
Replay
In the context of gambling, a replay can refer to a re-run of a race or event, often due to a technical issue or other unforeseen circumstance. In such cases, bets may be voided or 'no actioned'.
Responsible Gambling
A set of initiatives and policies aimed at promoting safe and healthy gambling habits and minimizing the potential for harm. This includes measures like self-exclusion programs, deposit limits, and providing resources for problem gambling.
Restriction
A limit placed on a player's betting account, which may include a maximum bet size, deposit limits, or a ban from certain promotions. Restrictions are often placed on professional or 'sharp' bettors.
Result
The final outcome of a sporting event or other gambling proposition. The result determines whether a bet is a winner or a loser.
Return on Investment
Return on Investment (ROI) is a performance measure used to evaluate the efficiency of a bet or series of bets. It calculates the net profit as a percentage of the total amount wagered, offering a clear view of a bettor's profitability over time.
Return to Player (RTP)
The percentage of all wagered money that a casino game will pay back to players over time. The inverse of house edge.
Reverse
A reverse bet is a type of wager that consists of two 'if bets' placed in reverse order. This means the outcome of the first bet determines if the second bet is placed, and vice-versa, effectively creating two separate conditional wagers.
Reverse Line Movement
Reverse line movement occurs when a betting line moves in the opposite direction of the public betting percentages. This is often an indicator of 'sharp' or professional money being wagered on the less popular side.
Risk Free Bet
A risk-free bet is a promotional offer from a sportsbook where a bettor's first wager is insured up to a certain amount. If the bet loses, the stake is refunded to the bettor, usually in the form of site credit or a free bet.
Risk Management
In gambling, risk management refers to the strategies and techniques used to minimize the financial risks associated with betting. This includes practices like bankroll management, staking plans, and diversifying bets to protect against significant losses.
River
In community card poker games like Texas Hold'em and Omaha, the river is the fifth and final community card dealt on the board. This card is followed by the final round of betting.
ROI (Return on Investment)
A measure of betting profitability calculated as net profit divided by total amount wagered, expressed as a percentage.
ROI Tracking
ROI tracking is the process of systematically monitoring and calculating the Return on Investment of one's betting activities. This helps bettors to analyze their performance, identify profitable strategies, and make more informed decisions.
Roll Over
In the context of online gambling bonuses, roll over (or rollover) refers to the requirement to wager a certain amount of money before bonus funds or winnings can be withdrawn. It is a multiple of the bonus amount, and sometimes the deposit amount as well.
Rollover Requirement
A rollover requirement is a condition imposed by online gambling sites on their promotional bonuses. It specifies the total amount of money that must be wagered before a player can withdraw the bonus funds or any winnings derived from them.
Roulette
A casino game where a ball is spun on a numbered wheel. Players bet on where the ball will land.
Round Robin
A round robin is a type of wager that involves creating a series of smaller parlay bets from a larger list of selections. This method allows for a payout even if not all selections win, as opposed to a traditional parlay where all legs must be successful.
Run Down
In sports betting, a run down is a summary of all the games, point spreads, and odds for a particular day or sport. It provides a quick overview of the betting landscape for bettors to review.
Run Line
The run line is baseball's version of the point spread, typically set at 1.5 runs, where the favorite must win by a certain margin or the underdog can lose by a certain margin.
Runner
In horse racing, a runner is a horse that is scheduled to participate in a race. The term is also used more broadly in gambling to refer to a person who places bets on behalf of someone else.
Rush
In poker, 'Rush Poker' is a fast-paced online poker format where players are immediately moved to a new table with new opponents after they fold their hand. This eliminates the waiting time for the next hand to be dealt.
S
Same Game Parlay
A same game parlay is a type of parlay bet that allows a bettor to combine multiple selections from a single game into one wager. This offers the potential for a higher payout than placing each bet individually.
Scalper
In the context of betting, a scalper is a type of bettor who engages in arbitrage, which is the practice of placing wagers on all possible outcomes of an event across different bookmakers to guarantee a profit, regardless of the result. They exploit discrepancies in the odds offered by different sportsbooks.
Scalping
Scalping is a sports betting strategy that involves placing multiple bets on different outcomes of an event to lock in a small but guaranteed profit from minor price fluctuations.
Scratch
In horse racing, a scratch occurs when a horse is withdrawn from a race before it starts. All bets placed on a scratched horse are typically refunded.
Season Win Total
A season win total is a type of futures bet where a wager is placed on the total number of wins a team will accumulate during the regular season. Sportsbooks set a line, and bettors can wager on whether the team will win more (over) or fewer (under) games than that line.
Second Half Bet
A second half bet is a wager placed on the outcome of only the second half of a game. The score is considered to be 0-0 at the start of the second half, and the bet is settled based on the points scored in that half alone.
Seed
In a tournament, a seed is a ranking given to a team or player to determine their position in the bracket. Higher seeds are generally considered stronger and are often matched against lower seeds in the early rounds.
Sell
In sports betting, to 'sell points' is to adjust the point spread in exchange for a different payout. A bettor can sell points to get a better price on their wager, but this also increases the risk as the team must cover a larger spread.
Sequence Bet
A Sequence Bet is a type of wager that involves a series of bets that must be won in a specific order. These bets are often part of a larger betting system or strategy, where the outcome of one bet determines the next.
Session
In a gambling context, a session refers to a continuous period of play. It is often used for tracking wins and losses for tax purposes or for personal bankroll management. A session begins when a player buys in and ends when they cash out.
Settle
In sports betting, a bet is settled when the event has concluded and the outcome is officially confirmed, leading to the payment of winnings or the collection of losing stakes. The settlement process finalizes the wager, and the funds are adjusted in the bettor's account accordingly.
Seven Out
In the game of craps, a 'Seven Out' occurs when the shooter rolls a seven after a point has been established but before rolling the point number again. This results in a loss for Pass Line bettors and a win for Don't Pass Line bettors.
Sharp
A professional or highly skilled bettor who uses mathematical analysis and data to find edges.
Sharp Action
Sharp action refers to the betting activity of 'sharps,' who are professional or highly knowledgeable sports bettors. When a significant amount of money is wagered on a particular outcome, causing the betting line to move, it is often attributed to sharp action. Bookmakers and other bettors pay close attention to sharp action as it can indicate a valuable betting opportunity.
Sharp Money
Sharp money is a wager placed by a respected bettor or betting group with a proven track record of success, which can influence betting lines.
Shorten
In betting, to shorten the odds means to decrease the payout for a particular outcome. This typically happens when a large amount of money is wagered on that outcome, making it a favorite. Bookmakers shorten the odds to reduce their liability and balance the action on both sides of a bet.
Shot Clock
In poker, a shot clock is a timer that limits the amount of time a player has to make a decision. It is used to speed up the pace of play and prevent players from taking an excessive amount of time to act. If a player fails to act before the shot clock expires, their hand is automatically folded.
Show Bet
In horse racing, a show bet is a wager that a horse will finish in first, second, or third place. It is one of the least risky bets in horse racing, but it also offers the lowest payout. A show bet is a good option for bettors who are new to horse racing or who want to make a conservative wager.
Showdown
In poker, the showdown is the final phase of a hand where all remaining players reveal their cards to determine the winner. This occurs after the final round of betting is complete. The player with the best hand according to the game's rules wins the pot.
Shut Out
In sports betting, a shut out occurs when a team or player fails to score any points in a game or match. Bettors can often wager on whether a shut out will happen, with odds varying based on the sport and the teams involved. It is a relatively rare event in most sports, making it a potentially high-payout bet.
Side Bet
A side bet is an additional wager placed on an outcome that is not related to the final result of the game. These bets are offered in many casino games and sports betting, providing extra opportunities to win or lose, independent of the main bet.
Signal
In gambling, a signal is a non-verbal cue or gesture used by players to communicate their intentions to the dealer or other players. Signals are crucial in casino games like blackjack to indicate actions such as hitting, standing, or splitting, ensuring clarity and security at the table.
Single Bet
A single bet, also known as a straight bet, is the simplest form of wagering where a bettor stakes money on a single outcome of an event. If the prediction is correct, the bettor wins; if not, the stake is lost. This type of bet is common across all forms of gambling.
Sit and Go
A Sit and Go (SNG) is a type of poker tournament that has no scheduled start time. It begins as soon as the required number of players have registered. SNGs are popular online and are available in a wide range of formats and buy-ins.
Six Point Teaser
A six-point teaser is a type of parlay bet in American football where the bettor can adjust the point spread or total for two or more games by six points in their favor. In exchange for the more favorable lines, the payout for the teaser is lower than a traditional parlay.
Skin
In golf betting, a skin is a prize awarded for winning an individual hole. Each hole is assigned a monetary value, and the player with the lowest score on the hole wins the skin. If there is a tie, the value of the skin is carried over to the next hole.
Sleeper
In sports betting and fantasy sports, a sleeper is a team or player that is undervalued by the public and bookmakers but has the potential to perform better than expected. Identifying sleepers can lead to profitable betting opportunities as their odds are often longer than they should be.
Slip
In a casino or betting shop, a slip, or betting slip, is a paper form that a bettor fills out to specify the details of their wager. This includes the event, the type of bet, the selection, and the stake. The slip is then given to a cashier who processes the bet and provides a receipt.
Slots
Casino games where players spin reels and win based on symbol combinations. They have some of the highest house edges in the casino.
Smart Money
Smart money refers to the wagers placed by experienced and professional bettors, who are believed to have a better understanding of the market and are more likely to win. Bookmakers and other bettors often monitor smart money to gain insights into which side of a bet has more value.
Snapper
In card games, particularly blackjack, a 'snapper' is a slang term for a natural blackjack, which consists of an Ace and a ten-value card (10, Jack, Queen, or King) dealt as the first two cards. It is an automatic winner unless the dealer also has a blackjack.
Soft Line
A betting line that is perceived to be favorable to the bettor, often because the bookmaker has not adjusted it to reflect the true probability of the outcome. These lines are often created to attract bets on one side of a matchup.
Soft Total
In card games like Blackjack, a soft total is a hand that includes an Ace that can be counted as either 1 or 11 without causing the hand to bust. This gives the player more flexibility.
Special Bet
A type of wager on an event that is not a typical moneyline, point spread, or totals bet. These can include proposition bets on player performance, specific game events, or even non-sporting events.
Speed Figure
A numerical rating that reflects a horse's performance in a race, adjusted for the track conditions and other factors. It is used by handicappers to compare horses and predict future performance.
Split
In card games like Blackjack, to split a pair of cards of the same rank into two separate hands. This requires an additional bet and allows the player to play each hand independently.
Spot Bet
A wager on a specific, pre-determined aspect of a game or event, often unrelated to the final outcome. This is a type of proposition bet.
Spread Betting
A type of wagering where the bet is on whether the outcome of an event will be above or below a 'spread' offered by the bookmaker. The more right you are, the more you win, and the more wrong you are, the more you lose.
Square
A casual or unsophisticated bettor who wagers for entertainment rather than profit, often without in-depth research.
Staking Plan
A predetermined strategy for managing a betting bankroll, dictating the size of bets based on factors like confidence, odds, and bankroll size. This helps to minimize losses and maximize long-term profits.
Stale Line
A betting line that has not been updated to reflect the latest information, such as injuries, weather, or market sentiment. Bettors can sometimes find value in stale lines.
Stand
In card games like Blackjack, to decline another card from the dealer. This indicates that the player is satisfied with their current hand.
Standard Deviation
A statistical measure of the amount of variation or dispersion of a set of values. In betting, it can be used to quantify the risk or volatility of a betting strategy.
Starting Price
The odds on a horse at the moment the race begins. This is the price that is used to settle all bets placed on the 'SP' market.
Steam
A sudden, drastic, and uniform movement of odds across multiple sportsbooks. This is usually caused by a large amount of money being wagered on one side of an event by respected bettors.
Steam Move
A sudden, dramatic line movement caused by heavy sharp action hitting multiple sportsbooks simultaneously.
Stick
Another term for 'stand' in the game of Blackjack, meaning to not take any more cards.
Stiff
In horse racing, a horse that is not expected to win and is being ridden with little effort from the jockey. In other gambling contexts, it can refer to a player who does not tip.
Stop Loss
A predetermined limit on the amount of money a bettor is willing to lose in a given period or on a specific bet. It is a risk management strategy to protect the bankroll.
Straight Bet
A straight bet is a single wager on the outcome of a single game or event, such as a moneyline, point spread, or total.
Straight Forecast
A bet in which the bettor must correctly predict the first and second place finishers in a race, in the exact order.
Street
In poker, a 'street' refers to a round of betting. For example, the flop, turn, and river are all different streets.
String Bet
In poker, an illegal move where a player makes a bet or raise in more than one motion without declaring their intention to raise. This is done to gauge the reaction of other players before committing the full amount.
Stud
A variant of poker where players are dealt a combination of face-up and face-down cards over multiple betting rounds. Seven-Card Stud is a popular example.
T
Teaser
A type of parlay where you can adjust the point spread in your favor on each leg, in exchange for a lower payout.
Three Way Handicap
A three-way handicap, also known as European handicap, is a betting market where one team is given a goal advantage, and there are three possible outcomes to bet on: a home win, a draw, or an away win. This differs from a traditional handicap where a draw is not an option.
Ticket
A ticket is a receipt that confirms a bet has been placed. It contains all the details of the wager, including the selection, stake, odds, and potential winnings. In online betting, the ticket is digital and stored in the user's account history.
Tie
A tie, also known as a draw or a push, is a betting outcome where there is no winner or loser between the bettor and the sportsbook. This occurs when the result of the event, including the point spread, is exactly as the sportsbook predicted. In this case, the original stake is returned to the bettor.
Tight Line
A tight line is a point spread or odds that is very close to the expected outcome, offering little value to the bettor. This usually happens when the sportsbook has a high degree of confidence in their prediction, or when there is a lot of balanced action on both sides of the bet.
Tilt
An emotional state where frustration or anger causes a bettor to make irrational decisions, often after a bad beat or losing streak.
Tip
A tip is a prediction or recommendation for a particular betting outcome, usually provided by a knowledgeable source or an expert known as a tipster. Tips are meant to help bettors make more informed decisions, but they do not guarantee a win.
Tipster
A tipster is an individual or a service that provides betting tips and predictions to bettors, often for a fee. A good tipster has a proven track record of success and provides detailed analysis to support their recommendations.
To Win Outright
To win outright is a bet on a team or individual to win a competition or tournament. This is a long-term bet, often placed before the event starts, and the odds can be very high for underdogs.
Toss Up
A toss-up is a game or event where the two opponents are considered to be evenly matched, and the outcome is difficult to predict. In betting terms, this is often referred to as a 'pick'em' game, where there is no point spread favorite.
Total
The total, also known as the over/under, is a bet on the combined number of points, goals, or runs scored by both teams in a game. The sportsbook sets a line, and bettors can wager on whether the final score will be over or under that line.
Totals Betting
Totals betting, also known as over/under betting, is a type of wager where you bet on the combined score of both teams in a game. It is a popular betting market in many sports, including football, basketball, and soccer.
Tout
A tout is a person or service that sells sports betting picks and advice to bettors, often with exaggerated claims of success.
Trap Game
A trap game is a game where a favored team is expected to win easily but ends up losing to a weaker opponent. This often happens when the favored team is looking ahead to a more important matchup or underestimating their current opponent.
Treble
A treble is a type of parlay bet that combines three different selections into a single wager. All three selections must win for the bet to be successful, but the potential payout is much higher than for single bets.
Trend
A trend is a statistical pattern or tendency that can be observed over a period of time. In sports betting, trends can be used to identify profitable betting opportunities, but they should be used with caution as they do not guarantee future results.
Trey
In dice games like craps, a trey is a roll of the dice that results in a total of three. In card games, a trey refers to a card with the rank of three.
Trifecta
A trifecta is a type of bet in horse racing where the bettor must correctly predict the first, second, and third place finishers in the exact order. It is a difficult bet to win, but it offers a very high payout.
Triple Crown
The Triple Crown is a prestigious series of three thoroughbred horse races for three-year-old horses. In the United States, it consists of the Kentucky Derby, the Preakness Stakes, and the Belmont Stakes. Winning all three races is a rare and celebrated achievement.
True Odds
True odds are the actual probability of an event occurring, without any profit margin or 'vig' added by the sportsbook. The difference between the true odds and the odds offered by the sportsbook is the bookmaker's advantage.
Turbo
In poker, a turbo tournament is a type of tournament with a much faster blind structure than a standard tournament. The blinds increase at a rapid pace, forcing players to make decisions more quickly and creating a more action-packed game.
Turn
In community card poker games like Texas Hold'em and Omaha, the turn is the fourth community card that is dealt face up on the board. It is also known as 'fourth street'. The turn is followed by a round of betting.
Turnover
In sports betting, turnover refers to the total amount of money wagered on an event or over a specific period. It is a key metric for sportsbooks to measure their business volume. In sports like basketball and football, a turnover is when a team loses possession of the ball to the opposing team.
Twenty One
Twenty-One, also known as Blackjack, is a popular casino card game where players aim to have a hand total closer to 21 than the dealer without exceeding it. It is a comparing card game between one or more players and a dealer, where each player in turn competes against the dealer.
Two Ball
A two-ball bet is a wager in golf tournaments on two selected players to perform better than the rest of the field. This is a less common format than the traditional three-ball, but is often used in the final rounds of a tournament when the field has been reduced.
U
Umbrella
In the context of sports betting, particularly in horse racing, an "umbrella" or "umbrella spread" is not a standard term. It might be used colloquially or in specific contexts to refer to a type of combination bet covering multiple outcomes, but it is not widely recognized.
Under Dog
The underdog is the team or individual in a sporting event that is considered less likely to win. Betting on the underdog typically offers a higher potential payout if they are successful.
Under the Gun
In poker, the player who is "under the gun" is the first to act in a betting round. This is considered a disadvantageous position as they have the least information about their opponents' hands.
Underlay
An underlay is a bet that has a lower probability of winning than the odds suggest, representing poor value for the bettor. It is the opposite of an overlay, which is a bet with a higher probability of winning than the odds suggest.
Unit
A standardized bet size, typically 1-3% of your total bankroll, used to measure and compare betting performance.
Unit Size
Unit size refers to the standard amount of money a bettor uses for their wagers, typically a percentage of their total bankroll. This allows for consistent and disciplined betting, helping to manage risk and track performance.
V
Value Bet
A bet where the probability of winning is greater than what the odds imply, giving the bettor a mathematical edge.
Variance
The statistical measure of how results deviate from expected outcomes over time. The reason short-term results are unreliable.
Vig
Short for vigorish — the commission or fee charged by the sportsbook on each bet. Also called juice.
Vig Rebate
A vig rebate, or vigorish rebate, is a discount or cashback offered by a bookmaker on the commission they charge for taking a bet. This is a promotional tool used to attract and retain customers.
Vigorish Explained
Vigorish, often called "vig" or "juice", is the commission a bookmaker takes for accepting a bet. It is essentially the bookmaker's profit margin built into the odds, ensuring they make money regardless of the outcome.
Virtual Sports
Virtual sports are computer-generated simulations of sporting events that people can bet on. These events are driven by a random number generator, and the outcomes are not influenced by real-world factors.
Void Bet
A void bet is a wager that has been declared invalid, and the stake is returned to the bettor. This can happen for various reasons, such as a cancelled event, a non-runner in a race, or a mistake in the odds.
W
Wager
A wager is the act of risking a sum of money or a valuable item on the outcome of an uncertain event, forming the basis of all gambling activities.
Wagering Requirement
A wagering requirement, also known as a rollover or playthrough requirement, is a condition attached to a bonus or promotion that specifies the amount of money a player must bet before they can withdraw their winnings.
Walk
In baseball, a walk, also known as a base on balls, occurs when a pitcher throws four pitches that are deemed to be balls by the umpire. The batter is then allowed to advance to first base without the possibility of being put out.
Wash
In betting, a wash is a situation where the net result of a series of bets is zero, with wins and losses canceling each other out. It can also refer to a bet that is a push, where the stake is returned.
Watch List
A watch list is a list of teams, players, or horses that a bettor is monitoring for future betting opportunities. This allows them to track performance and identify favorable betting situations.
Weak Line
A weak line is a betting line that is considered to be inaccurate or not a true reflection of the probabilities of an outcome. This can create a profitable betting opportunity for astute gamblers.
Whale
A whale is a high-roller, a gambler who consistently wagers large sums of money. Casinos and bookmakers often provide special treatment and perks to attract and retain whales.
Wheel
In horse racing, a wheel bet is a type of wager where a bettor selects one horse to finish in a specific position (usually first) and then combines that horse with all other horses in the race for the other positions in an exotic bet like an exacta or trifecta.
Wheeling System
A lottery strategy that involves playing multiple combinations of a selected group of numbers to guarantee certain prize tiers if some numbers are drawn.
Whip
In horse racing, a whip is a tool used by jockeys to encourage a horse to run faster. The use of whips in racing is a controversial topic, with regulations in place to ensure animal welfare.
Wide Open
A wide-open race or competition is one where there is no clear favorite and many contestants have a realistic chance of winning. These events can be exciting for spectators and challenging for bettors.
Wild Card
A Wild Card is a team or individual that gains entry into a tournament or playoff without having met the standard qualification criteria. In card games like poker, a wild card is a card that can be substituted for any other card to form a winning hand.
Win Bet
A Win Bet is the most basic type of wager in which you bet on a specific competitor, such as a horse or a team, to finish in first place. If your selection wins, you win the bet; if they finish in any other position, you lose.
Win Margin
A Win Margin bet is a wager on the exact difference in points or goals between the winning and losing teams in a game. This type of bet is common in sports like basketball and soccer, where the final score difference is a key statistic.
Win Place Show
Win, Place, and Show are three separate bets in horse racing. A Win bet is on a horse to finish first. A Place bet is on a horse to finish first or second. A Show bet is on a horse to finish first, second, or third.
Win Rate
Win Rate is a percentage that represents how often a bettor wins their wagers. It is calculated by dividing the number of winning bets by the total number of bets placed. While a high win rate is desirable, it doesn't guarantee profitability, as the odds of the bets also play a crucial role.
Wire to Wire
A Wire to Wire bet is a wager on a team or individual to lead a competition from the start to the finish, without ever relinquishing the lead. This term is commonly used in sports like horse racing, motorsports, and basketball.
Wise Guy
A Wise Guy is a term for a respected and knowledgeable sports bettor who has a deep understanding of the betting market. Their opinions and wagers can often influence the betting lines.
Withdrawal
In the context of gambling, a withdrawal is the process of transferring funds from a betting or casino account back to a personal bank account or e-wallet. It can also refer to the physical and psychological symptoms experienced by a person with a gambling addiction when they stop gambling.
Wood
In betting slang, 'laying the wood' means to bet on a heavy favorite, where you have to risk a large amount of money to win a small profit. The term 'wood' refers to the large negative odds (e.g., -300), which are often written on the betting board.
Wrap
In poker, specifically in Omaha, a Wrap is a straight draw that has nine or more outs. This is possible because players hold four hole cards, which can create many combinations with the community cards to form a straight.
Y
Yankee Bet
A Yankee Bet is a multi-bet that consists of 11 bets on four selections in different events. The 11 bets are: 6 doubles, 4 trebles, and a four-fold accumulator. A minimum of two winning selections is required to get a return.
Yield
Another term for ROI in betting — net profit divided by total amount wagered, expressed as a percentage.
The Daily Heater
Best odds across 15+ sportsbooks, delivered daily.