BettorsNet.com® Pay per Head Sports Betting Terms
At BettorsNet.com® Price per Head services we provide all the help our sports betting agents require to successfully conducts their online businesses. The following is a quick review of some of the most common slang in the betting industry.
Action – The term action in sports betting is when you have a bet that cannot be canceled or changed. Basically, saying you have action on a game is the same as saying you have a bet on the game.
Arbitrage – This is when you bet on two opposing teams/players to guarantee a win. This may not make much sense to do but sometimes you get a bet locked in at certain odds and later on the odds for the other team player change making it +EV to bet on the opposing team.
Bankroll – How much money you have set aside for your sports betting.
Bet – A wager that gives you the opportunity to win money or lose money based on the outcome.
Bookmaker – A bookmaker is the company that accepts bets/wagers from the public. Online bookmarkers like TheSportsbook are large companies. If the bookmaker is an individual they are called a bookie.
Buck – A bet that equals $100.
Chalk -The team or players that is favored to win.
Cover – When you say that you covered a bet you have beat the point spread.
Dime Bet – A bet that equals $1,000
Dog Player – I am a dog player. This means that I typically bet on the underdog.
Edge – When one team has some advantage over the other.
Exotic Bet – A non-standard wager. Exotic bets are wagers like futures, money lines and ones that look at the halftime score instead of the final score.
Favorite – The favorite means the team that is expected to win.
Futures – When you bet on a game, match or outcome well ahead of time. Futures bets are usually made before the start of the season. They have some of the highest odds in the sports betting industry.
Handicapper – An expert in the field of sports betting. They usually help sportsbook determine the odds and are professional bettors themselves.
Juice – This is where sportsbooks make their money. The juice is a small fee charged by the company to the bettor in return for taking his/her wager.
Lines – Lines can either be odds or point spreads.
Money Line – This is a term that is very important in sports betting and many novices have trouble with it. The money line is a formula that tells the bettor who much he/she has to bet in order to win a certain amount. Here is an example: Detroit Lions +220 versus Dallas Cowboys -$270. If you bet on the Lions you will win $220 for every $100 wagered. If you bet on the Cowboys you will win $100 for every $270 wagered.
Nickel – A wager worth $500.
Parley – A wager that involves two or more teams. To win a parley you have to pick every match correctly. The payouts for parley bets are some of the most lucrative available online.
Price – The price can either mean the point spread of the odds on a certain game or match.
Prop Bet – Prop bets are very exciting. A prop bet is when you wager on something that is very odd when compared to betting on sports. A few examples would include betting on who will be the next president, betting on who will be the first person injured in game, betting on who play a certain role in any movie that is still in the cast selection phase. Prop bets offer the highest odds in the world of sports betting. I’ve seen money lines that exceeded $500,000. Here is a current example of a prop bet: Who will win FHM’s sexiest woman of 2013? The lowest money line of +$110 is for Cheryl Cole. The highest money line is +$30,000 for Lady Gaga. This means if you bet $100 on Lady Gaga and she wins you will win $30,000. This money line is from the best place to wager for people from the U.S, TheSportsbook.com.
Spread – A short form way to say or write point spread.
Straight Bet – A simple bet on the outcome of a game or event.
Teaser Bet – Teaser bets are my third favorite type of wager after prop bets and parleys. In a teaser you will be able to change the lines on a group of games any way you want. You can only make a specified number of changes so you have to use them wisely. To win you will need every pick to be correct.
Underdog – The team or player that is least likely to win.
Wager – Any form of bet.
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