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Betting Glossary (ABC)

The Glossary section of Onlinebetting360.in clarifies betting terms that beginners may not immediately understand. For the sake of convenience, we have categorized these terms alphabetically.

betting glossary

A

Accumulator

Accumulator or Acca is type of bet where you combine lots of selections in one bet, with the aim of getting a bigger return. It will only win if all selections win.

Asian Handicap

A handicap that uses fractions to split a bet between two possible outcomes. For example, if you back a team with a -0.5 Asian Handicap, they will win your bet if they win the match, while half your stake will be refunded if they draw.

Arbitrage

Arbitrage is when a bookmaker’s odds are different from another bookmaker’s odds on the same event, thus allowing you to place bets on both which would guarantee a profit regardless of the outcome. These can also be called sure bets or miracle bets.

Action

The word action is used to refer to the total amount of money bet on a game, race, or match.

ATS

The abbreviation for Against The Spread. This is a type of bet where the spread is applied to the rest score.

B

Backdoor Cover

A backdoor cover is when a team that is losing covers the point spread in the final minutes to make the score appear closer than it actually was

Bad Beat

A bad beat is when a team or player loses despite being in a position where they would normally be expected to win.

Banker

A selection that is very likely to win, so much so that it’s used as a tiebreaker in accumulators and other multiple bets.

Bet

A selection is made by a punter who is trying to predict the outcome of an event, and if their prediction is correct, they win their bet.

Book

To “book” a bet means to place it with a bookmaker or sportsbook.

Bookie

The person who accepts bets. They determine the odds and pay the winners.

Bankroll

A bankroll is the total amount of money that a gambler or investor has available to bet.

Buying points

A way of betting on a game’s winning margin. In other words, you bet that one team is going to win by more than the spread, and one team is going to lose by less than the spread.

C

Closing Line

When we talk about the “closing line” in sports betting, we’re referring to the odds that were listed at the moment the betting window closed.

Cover/Covering The Spread

A team is said to cover the spread when a team wins by the spread number or loses by less than the spread number.

D

Dog

The “dog” or “underdog” is the team that’s seen as less likely to win the game.

E

Edge

Edge is the difference a gambler has between the total payout and the total risk. For example, if a bettor were to risk र1000 to win र1100, there would be a positive edge of 10%.

Even money

A betting term that refers to getting paid out the same amount as you have wagered. For example, if you bet र1000 on a horse, and it wins, you will get back र2000: your original bet plus र1000.

Exotic

Exotic is a type of bet that isn’t normal. It’s not just betting on the winner of the race, but rather a more complex bet like betting on two horses to finish 1st and 2nd in a particular way.

F

Favourite

The favourite is the team that has the best odds of winning. The team is marked with a minus symbol (-) and has to win by at least the number of points in order for you to win your bet.

Fixed

A fixed bet is one in which the outcome is predetermined. In this case, you can’t be certain if your bet is a good one, because you don’t know what the outcome will be.

Futures bet

Futures are long-term bets that are usually placed on the outcome of a season. They can be placed on games, events, or tournaments.

H

Halftime bet

A Halftime bet is a wager placed only on the score of the first or second half.

Handicapper

A handicapper is someone who selects the winner of horse racing events based upon statistical analysis and experience.

Handle

Handle – The amount of money taken in by the bookmaker/sportsbook.

Hedging

is the act of using the opposite side of your bet with a different bookmaker, or at a different betting exchange, in order to reduce loss.

High Roller

A high roller is a gambler who regularly wagers large amounts of money at a particular gambling establishment or site.

Hook

A hook is typically a half point added to the favorite or subtracted from the underdog for betting purposes.

I

In-game betting

In-game betting is a feature on many online sports betting websites that allows the user to bet while the event is in progress.

J

Juice

Juice is the percentage profit that bookmakers take on bets.

L

Layoff

A layoff is a betting arrangement between two or more bookmakers to reduce their liability on a particular selection by backing and laying the same bet with each other.

Limit

The maximum bet size is set by the bookmaker.

Lock

A lock is a term used in sports betting to describe the game outcome that guarantees no risk of losing the bet.

M

Money line

The money line is a term used to describe a straight-up bet that does not include any point spread.

Mush

The term mush is usually used as an adjective to describe a punter or player who makes bad decisions.

O

Oddsmaker

Is the person or group of people responsible for creating odds for upcoming sports events.

Off the board

Something that is off the board is no longer available to bet on.

Over/under

Over/Under bets are also called totals bets. You have to decide whether the total number of points scored in a game will be over or under a certain figure.

P

Parlay

Parlay is a term for accumulator bet when all wagers must win in order for you to win the bet.

Pick ’em

It is a term in sports betting which means both teams are equal and neither is given an advantage, but the bettor must predict the side.

Push

A push is when the point spread hits exactly the number set by the oddsmakers.

R

Runner

A runner is a person who places bets with a bookmaker, broker or betting exchange on behalf of someone else.

S

Sharp

Sharp is sportsbook slang for a professional bettor or tout that places a lot of bets.

Spread

Spread betting is a speculative form of betting on the outcome of an event where the pay-off is based on the accuracy of the bet and not just whether the bet was correct or incorrect.

Straight-up

A straight-up bet is a wager on the outcome of a single game for one team.

T

Teaser

A teaser is a type of proposition bet that allows you to adjust the point spread or total of each leg in the bet in exchange for reduced odds.

Total

A total is a number set by oddsmakers that asks you to decide whether the number of points scored in a game will go over or under the number.

U

Underdog

Refers to the team with fewer odds of winning.

V

Vig/vigorish

Is the commission that a sportsbook or bookie takes on a bet, usually around 10-15% for straight bets.

W

Wager

A wager is a bet someone makes on an outcome of a game or event.

Wiseguy

A Wiseguy is a professional gambler or bookmaker