Betting on sports can be a confusing endeavor if you’re not familiar with all the jargon. From “moneyline” to “parlay,” there are a lot of terms that bettors need to know before they can start placing wagers. Here are just a few of the most common sports betting terms that you should familiarize yourself with.
Arbitrage Betting: This is a type of betting where you place multiple bets on different outcomes in order to guarantee yourself a profit. For example, let’s say that you bet that Team A will beat Team B, and also bet that Team B will beat Team C. As long as both of those bets win, you’ll make a profit no matter who actually wins the overall match-up.
Betting Line: The betting line is the odds that are set by the sportsbook for a particular match-up. The odds will usually be expressed in either American odds or decimal odds.
Chalk: Chalk is another term for the favorite in a particular match-up. For example, if Team A is favored to beat Team B, then Team A would be the chalk.
Circled Game: A circled game is a game that has special betting rules attached to it. Usually, this means that the sportsbook has lowered the maximum bet that can be placed on the game. Circled games are typically high-profile match-ups with a lot of public betting action.
Favorites and Underdogs: In any given match-up, there will always be a favorite and an underdog. The favorite is the team that is expected to win, while the underdog is the team that is not expected to win. Favorites will always have shorter odds than underdogs.
Handicap: A handicap is when the sportsbook gives one team a head start in order to even out the betting action on both sides. For example, if Team A is favored to beat Team B by 10 points, then the sportsbook may set a handicap of +10 for Team B. This means that Team B would need to win by 11 or more points in order for bettors who took them on the handicap to cash their tickets.
Hedging: Hedging is when you place a bet on one outcome in order to offset your risk on another bet. For example, let’s say that you bet $100 on Team A to win outright, but then they go down by 10 points in the first half. You could hedge your bet by placing another $100 bet on Team A to lose by less than 10 points. If they lose by 9 or less, then you’ll lose your original bet but win your hedge bet, resulting in no overall loss.
In-play Betting: In-play betting is when you place a bet after a sporting event has already started. Sportsbooks will offer different odds and lines during the course of a game or match, and savvy bettors can take advantage of these changing odds by placing their bets after the action has started.
Moneyline: The moneyline is simply the odds on a particular match-up expressed in terms of money. For example, if the moneyline on a particular match-up is +150, that means that you would need to bet $100 to win $150. Moneylines are typically expressed with American odds, but can also be expressed using decimal odds or fractional odds.
Odds Boost: An odds boost is when a sportsbook temporarily increases the odds on a particular bet in order to attract more betting action on one side or the other. Odds boosts are usually offered for specific match-ups or games, and can be an excellent way to get better value for your bets.
Parlay: A parlay is when you combine two or more bets into one single bet in order to increase your potential payout. All of your bets must win in order for you to cash your ticket, but if they do all come through then you can see some huge payouts from parlays. Just be aware that parlays are very risky bets, so only use them if you’re comfortable with potentially losing your entire stake.
Point Spread: The point spread is simply the number of points that are being used to handicap a particular match-up. For example, if the point spread on a game is 7 points, then one team must win by 8 or more points in order for bettors who took them on the point spread to cash their tickets. Point spreads are usually expressed with fractional odds (e.g., -7/7), but can also be expressed using decimal odds or American odds.
How do you understand betting terms?
When you first start betting, all of the jargon and terminology can be very confusing. But don’t worry, we’re here to help you make sense of it all. In this blog post, we’re going to explain some of the most common betting terms that you’re likely to come across.
The first thing you need to understand are betting odds. Odds represent the probability of an event happening, and they’re usually expressed as a fraction or a decimal. For example, if the odds of an event happening are 1/5, that means that for every 5 times the event happens, it will happen once. If the odds of an event happening are 5/1, that means that for every 1 time the event happens, it will happen 5 times.
The odds of an event happening are calculated by the bookmaker, and they will always try to ensure that they make a profit no matter what happens. This means that the odds are usually not a true reflection of the probability of an event happening. For example, if a bookmaker thinks that there’s a 50% chance of an event happening, they might offer odds of 4/6. This means that if you bet £6 on the event happening, you would only win £4 if it does happen – even though the probability is 50%.
Now that you understand betting odds, let’s take a look at some of the most common betting terms:
Bet – A bet is simply an agreement between you and the bookmaker where you agree to pay a certain amount of money if your prediction is correct, or lose the money if your prediction is wrong.
Stake – The stake is the amount of money that you agree to bet on an outcome. For example, if you bet £10 on a horse to win a race, your stake is £10.
Bookmaker – A bookmaker is a company or person who takes bets from punters. They will set the odds for each event and try to make a profit from the bets they take.
Punter – A punter is someone who places bets with a bookmaker.
Win – If the outcome of an event happens as you predicted, you win your bet and receive any winnings that are due to you. For example, if you bet £10 on a horse to win a race at odds of 3/1 and it does win, you would receive £40 in winnings (£10 x 3). The £10 stake would also be returned to you, so in total you would receive £50 (£40 + £10).
Lose – If the outcome of an event doesn’t happen as you predicted, you lose your bet and don’t receive any winnings. For example, if you bet £10 on a horse to win a race at odds of 3/1 and it doesn’t win, you would lose your £10 stake and wouldn’t receive any winnings.
Refund – In some cases, you might be entitled to a refund if the outcome of an event doesn’t happen as you predicted. For example, if you place a bet on a football match and it gets cancelled before it starts, most bookmakers will give you a refund on your stake.
Free Bet – A free bet is where the bookmaker gives you a certain amount of money to bet with, and you don’t have to risk any of your own money. For example, a bookmaker might give you a £10 free bet to use on their website. If you place a bet using the free bet and it wins, you get to keep the winnings but not the free bet itself. If your free bet loses, then you don’t have to pay anything back to the bookmaker. Free bets are usually given as part of a promotion or welcome offer.
Bonus – A bonus is similar to a free bet in that it’s an amount of money that the bookmaker gives you to bet with. However, with bonuses there are usually wagering requirements in place. This means that before you can withdraw any winnings from your bonus bets, you have to place further bets totalling a certain amount. For example, if a bookmaker gave you a £50 bonus with x5 wagering requirements, that means before you can withdraw any winnings from your bonus bets, you would have to place further bets totalling £250 (£50 x 5). Bonuses are usually given as part of a promotion or welcome offer.
Promotion – Promotions are offers or deals that bookmakers run in order to attract new customers or keep existing customers happy. They can take many different forms but usually involve giving away free bets or bonuses. For example, a bookmaker might run a promotion where they give away £10 in free bets for every new customer that signs up and makes a deposit on their website. Promotions can also be targeted at existing customers in order to encourage them to keep betting with the bookmaker. For example, a bookmaker might offer existing customers double odds on their first bet each week.
What is betting slang for money?
Betting slang for money is pretty much what it sounds like – slang terms that are used to describe money in the context of gambling. While there are a few different ways to describe money in gambling, betting slang is generally used to describe smaller amounts of money, or winnings. Here are a few examples of betting slang for money:
– Dough: This is a common term for money, and it can be used in a variety of ways. For example, you might say “I need to win some dough” or “I spent my last bit of dough on that hand.”
– Cabbage: This term is used to describe money in general, but it’s also often used specifically to describe winnings. For example, you might say “I won a lot of cabbage on that hand” or “I need to win some cabbage tonight.”
– Green: This term is used to describe money in general, but it’s also often used specifically to describe US currency. For example, you might say “I need to win some green” or “I won a lot of green on that last hand.”
– chips: This term is used to describe gambling chips, which can be exchanged for cash. For example, you might say “I need to cash in my chips” or “I won a lot of chips on that last hand.”