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Main article: Bookmaker. Sports betting legal. Sports betting illegal. Arbitrage betting Betting pool Financial betting Friendly political wager Parimutuel betting Point shaving Sports betting systems Statistical association football predictions Virtual sports. February 19, Retrieved April 25, Retrieved November 14, International Journal of Mental Health and Addiction. Archived from the original PDF on July 23, Journal of Prediction Markets. Retrieved May 9, Chris Christie: "Let them try to stop us" from sports betting".
Associated Press. May 25, A Nation of Bettors? The National Law Review. Retrieved May 27, November The New York Times. Retrieved September 28, The Washington Post. September 26, Legal Sports Report. November 12, Retrieved May 31, Retrieved June 5, Kim Reynolds approves bill to legalize sports betting in Iowa". Detroit Free Press. Retrieved January 29, Bleacher Report. Retrieved August 9, April 18, Sports Handle.
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Banker — this is a term generally used in sports betting when a favorite is expected to produce a win in a match. Beard — a term that represents a third-party person whose job is to place the bet to hide the real identity of the bettor who wants to be anonymous. Bet aka Wager — placing the specific amount of money on the outcome of the event with the potential return measured by the odds. Betting Exchange — in short, the betting exchange is a peer-to-peer betting network.
Unlike traditional sportsbooks where players are only allowed to place bets, betting exchanges are places where bettors can place their bets but also accept bets from other players. Betting Strategy — is an organized and systematic approach in sports betting with a goal to generate a long-term profit. Bookmaker aka Bookie, Sportsbook — is a legal and licensed company, who provide betting services to the registered customers. Bonus — there are several types of bonuses that the customer can get at the sportsbook.
Still, in general, bonuses represent a certain amount of free money that the sportsbook gives to the newly registered customer or a loyal customer. If you want to know more about the types of bonuses and promotions, we suggest you read our special Bonus article. BOTD Bet of the Day — an abbreviation commonly used on social networks Facebook, Twitter , mostly by punters who share their personal bets with followers. To win this bet, both teams need to score at least one goal in the game.
Canadian — a multiple bet system that consists of 26 separate bets ten doubles, ten trebles, five four-folds and one five-fold. This system is also known as the Super Yankee system. Cash Out — is the betting option offered by sportsbooks to the bettors. This feature allows bettors to settle the bets before the end of the game.
Cash Out is a good option for those who like to play safely, who do not want to gamble until the end of the game, or in situations when you see that your bet is going in the wrong direction, and you want to save some of your initial stakes. Circled Game — a game where the bets limits are lowered as a reaction to bad weather, injury of the important player, or shady betting patterns.
Closing Line — this term represents the last available odds offered by the sportsbook before the start of the game. Beating the closing line regularly is a sign of a profitable bettor. Commission aka Margin, Juice, Vig — the commission is the price of placing a bet at the sportsbook.
Registering at sportsbooks that have a low margin is one of the most important things that bettors should consider when they choose the perfect sportsbook. Link to How to Choose the Perfect Book article. Dog aka Underdog — the term dog represents a team or a player who is expected to lose a game. Double — An accumulator bet which involves two selections. Both selections must be successful to win the bet.
Double Chance — one of the basic soccer bets. With double chance bet, bettor reduces three outcomes of a soccer match to two. A double chance is a low-risk bet, but for that reason, the odds are low in that market. Dutching — is a betting system in which bettor divides his initial stake into several selections.
That way, bettor covers all the outcomes and makes a safe bet that will bring him profit regardless of the outcome. This betting system is mostly used in horse race betting. Each Way — a bet that consists of two independent bets, one for the winner and one for the placement of the same horse or a player.
This type of bet is mostly used in horse and greyhound racing, and golf betting. Edge — this term represents the imaginary advantage that bettor perceives over the bookmaker. This happens when abettor feels that the odds or lines are not set correctly and considers that bet to be of great value.
Even money means that sportsbooks think the game has chance to finish either way. Favorite — his term indicates that the player or team is deemed by the bookmaker to win the match or a game. You will be able to identify favorites easily by looking at odds as favorites rank from 1. Fractional odds — a type of odds shown in fractional format mostly used in the United Kingdom. Gamblers Anonymous — GA is a twelve-step program for people who have a gambling problem.
Gambling addiction is a severe problem that needs to be adequately treated. If you feel that you lost control over your gambling habits link towards Responsible Gambling and Help for Problem Gamblers article you should ask for help! Goal Line Market — a type of Asian Handicap betting market in soccer. In this betting market, bettors predict a number of goals that will be scored by both teams in the game. Goliath — a multiple bet system that consists of separate bets 28 double bets, 56 treble bets, 70 four-fold bets, 56 five-fold bets, 28 six-fold bets, 7seven-fold bets, and one eight-fold bet.
To win some money, you need to predict correctly at least two from eight selections. Handicap — a numerical advantage set by the sportsbook to balance the chances of both teams in the game. Heinz — a multiple bet system that consists of 57 separate bets 15 double bets, 20 treble bets, 15 four-fold bets, 6 five-fold bets, and one six-fold bet. To win some money, you need to predict correctly at least two from six selections. In-play Betting — is a betting discipline where bettor places a bet on an event that is in progress.
The odds in the in-play market move in real-time, depending on the current score. Kelly Criterion — one of the most popular advanced staking methods.
Accumulators or Accas are bets that combine four or more single bets. For this to be a winning bet, you need to land each selection of your accumulator. Ante-post refers to bets placed long before an event actually starts. These bets are often placed before a punter knows which runners will take part, in the aim of accessing increased odds. For example, you might bet on the World Cup Winner or the Grand National before the runners have been announced.
Punters place bets on runners that are likely to take part. The purpose of this type of betting is to take advantage of favourable odds. The odds typically shorten in the run-up to the event. Arbitrage betting or arbing is a strategy in which gamblers bet on all possible outcomes at different odds to ensure a profit no matter what the result of the event is.
Asian handicaps are a method of betting that level the playing field between runners or teams. As the name suggests, Asian handicaps are often used in football betting in the Far East. As opposed to normal handicaps, this format allows punters the option to bet on half numbers as well as whole numbers.
In a horse race, certain runners may have such an outside chance that their odds are not quoted before a race. Bar refers to the odds beyond which runners are not quoted. This betting term refers to your favourite for an event. A banker bet is thought highly likely to win. A peer-to-peer online betting platform that matches gamblers together.
They take on no bets as a traditional bookmaker does. Bookmakers or bookies are licensed betting companies which provide odds and take bets from punters. BTTS is typically used in football betting. Cash out is a feature that allows punters to settle their bets before an event has finished. You can either lock in a profit or cut your losses if you feel your bet is heading the wrong way.
A sporting term used to describe when a team do not concede a goal during a fixture. A combination bet consists of more than one selection. It differs from an accumulator in that if one selection loses, the remaining bets still stand. Correct score is a betting market in which the punter predicts the exact score of an outcome. Similar to an accumulator, just with fewer selections. A double bet consists of two single selections in one bet.
You need to land both selections to win this bet. The odds of a double bet are calculated by multiplying the odds for the two single bets. These bets are popular as returns can be high. Double chance betting offers the possibility of two outcomes instead of the common three for a football match.
It allows the punter to bet on a win or a draw. This betting term refers to selecting a number of different outcomes for one event in order to ensure the same amount of winnings if any of them win. Each way bets are a type of betting format that combines two bets in one. One part of the bet is for the win and the other part is to place. An each-way bet is settled as two bets and the place part is calculated at a fraction of the win odds. The amount of money a bookmaker or punter stands to lose.
This is important when placing bets at a betting exchange. The most likely to win a certain event is called the favourite. The runner or player with the lowest odds. In-play betting refers to when you place bets after an event has started. Lay betting at an exchange is when you bet against an outcome. Lengthen is a betting term that refers to when a bookmaker increases the odds for a certain market.
Multiples are just another term for accumulators. An outsider is a runner, team or individual that is deemed unlikely to win an event. Outsiders have high odds. This is generally used when betting on horse racing.
In sports betting, it is no different. There is a short form or synonym for just about any topic you can think of. For example, if you are looking at a game between the Golden State Warriors and Brooklyn Nets, the Warriors would be considered heavy chalk. They would likely by close to 15 or point favorites and the money line odds would be close to It is believed that back in the old days long before computers , bookies used chalkboard to update odds.
Bookies used to have to change the odds on a favorite regularly as the action came in. After a while, the odds were changed so frequently that the name of the favorite was nothing but chalk dust — hence the term betting the chalk. Over time the phrase spilled over first into modern horse racing and then into sports betting in general.
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