Whether you are new to gambling or an expert gambler, it is important to understand the different gambling terms. Knowing the right terms can be the difference between losing and winning a bet. Make sure you study this gambling glossary to improve your chances of winning big.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

A

Accumulator – To add winnings from the previous race or event to the current bet. The player’s goal is to reinvest all previous winnings to the next bet. However, all picks must be correct to win.

Ante-Post Bet – In horse racing, it is the bet you place before the race track opened its betting market.

B

Banker – A form of wager where you bet on three or more picks on a single bet slip. You must be confident with your selections if you are going to choose this type of wager.

Bookie Pay Per Head – A sportsbook platform that provides bookie software, online casino, and other services. Customers only need to pay for active players each week.

C

Canadian Line – A moneyline and combo spread usually used in hockey.

Chalk – Another term for favorite. Players betting big on favorites are known as chalk eaters.

D

Dead Heat – When two or more horses reach the finish line at the same time.

Decimal Odds – Also known as European odds. It is when odds are written in decimal format.

E

Edge – Advantage. Players feel they have the edge on a sportsbook when they think the lines are not accurate.

Exposure – The amount of money a bookie or player will lose on a sporting event.

F

Favorite – The individual or team expected to win a sporting event. The odds reflect which side is favored to win.

First Half Bet – Betting on the results of the first half of the game only.

Futures Bet – A long-term bet involving the success of a team in the upcoming season. Most common futures wagers include who will win the championship.

G

Grand Salami – A special type of over/under wager available only in hockey games.

Getting Down – Another term for making a bet.

H

Half-Ball Handicap – A handicap that is half or 0.5 of a point or goal.

Hook – Another term for half-point.

I

In and Out Teaser – When a bettor picks the favorite, underdog, under, and over of a single game.

In-Game Wagering – A service provided by the sportsbook in which players can place wagers in real time as the game is still on-going.

J

Jolly – What the British call a favorite.

Juice – The commission earned by the sportsbook.

K

Kelly Criterion – When the stake is proportional to the perceived advantage.

L

Layoff – A wager made by a bookie with another bookie to reduce the former’s liability.

Lay Odds – To offer a bet with odds that are favorable to the other gambler.

M

Middle – When the line moves, a player can try to middle the bet and win both sides.

Moneyline – Wagers that don’t consider the point spread.

N

Nap – The most confident picks of a tipster.

Nickel Line – a sports betting line when the bookie gets five percent.

O

Oddsmaker – The individual who creates the odds. Also known as a linemaker.

Over/Under – Bets on whether the combined total score will be over or under the number set by the sportsbook.

P

Payout – The money you get when you win a bet.

Picks – Another term for bets.

Point Spread – The head start provided to the underdog for sports betting purposes only.

Push – When a match ends with no winner.

Q

Quinella – In horse racing, a bet where the person chooses the horses that will win the first two places in a race.

R

Run Down – A list showing the lines for a specific sport, date, time, or place.

Run-Line – Offered in baseball games instead of a moneyline.

Runner – A person who places wagers for another individual.

S

Scalping – Betting on different sportsbooks to make a profit due to their bonus or price differences.

Sports Betting Software – A program that is the main tool of an online sportsbook. It creates lines, monitors players’ activities, and generate reports.

Straight Bet – Place a bet on just a single athlete, horse, or team, no matter what the odds are.

T

Teaser – Placing a wager on multiple teams and adjusting spreads in all games. One needs to pick all games correctly to win.

U

Under – A bet that the total points of both teams will be below a specified number.

Underdog – Team unlikely to win the game.

V

Vig – The commission the sportsbook earns from each bet. Also known as vigorish or juice.

W

Wager – Betting on the odds set by a bookie.

Wiseguy – An expert handicapper or player.

X

X – A draw during soccer events.

Y

Yankee – A set of 11 bets on four selections in various events. The set includes six doubles, four trebles, and a 4-fold.

Z

Zero – When neither team is favored, the match has a zero line.