A
Accumulator – A multiple bet where the punter makes simultaneous selections on 2 or more sporting events with the intent of placing the winnings of one bet on the bet of the following event. As a result the returns for a winning accumulator bet are larger than placing separate bets. For the punter to win all their selections must come in. Also known as Parley/ All up.
Action – If a bet or wager is valid it is deemed “Action”. Whether a bet is action or not varies between different sports.
Ajax – Betting tax (UK slang)
All in - Betting that takes place before the day of a major sporting event. Can be as much as a year before the event. Attraction of all in betting is that punters might be offered longer odds than they would on the day. However stakes are lost if the selection is disqualified/pulls out. Also known as ante-post/futures.
All Up - A multiple bet where the punter makes simultaneous selections on 2 or more sporting events with the intent of placing the winnings of one bet on the bet of the following event. As a result the returns for a winning accumulator bet are larger than placing separate bets. For the punter to win all their selections must come in.Also known as Accumulator/ Parley.
Ante-post betting – Betting that takes place before the day of a major sporting event. Can be as much as a year before the event. Attraction for punter is that they might be offered longer odds than they would on the day. However stakes are lost if the selection is disqualified/pulls out. Also known as futures/ All in.
Arbitrage - Where a variation in odds between two or more bookmakers enables players to back both teams and still guarantee a cash win. Also known as spread betting. See bet brain.com.
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B
Backed - A “backed” team is one which has had a lot of bets made on it. i.e a team which is the favourite to win.
Banker- A selection which is expected to easily win. A sure bet. The strongest selection within an accumulator.
Bankroll - This is the term given to money put aside specifically for gambling rather than the money you live on. Also known as “roll” or “wad”.
Bar Price – Term given to the odds of the selections at the last quoted price and bigger. The bar price represents the minimum odds given to the remaining selections not quoted. For example the English Premiership outright winners markets might read Chelsea 2/1, Liverpool 3/1, Man Utd 6/1, Arsenal 8/1, 12/1 Bar. Every other side is given as 12/1 or bigger.
Bees wax – Betting tax (UK slang).
Betting exchange - Enables punters to bypass the bookmakers. Punters can choose to take a price (given by another member of the public) or alternatively choose to lay odds against a team/individual during a sporting event (play the part of the bookmaker). Best known betting exchange is betfair.
Beard (US) - name given to a friend/contact who is used as a betting mule. That is they place bets on behalf of someone who does not want their identity to be known to the bookmaker. Common in the US where sports betting is illegal.
Bettor – US term for someone who places a bet. Also known as a punter.
Betting tax- Tax applied to a bookmaker’s turnover. In the UK betting tax used to be passed onto the punter by deducting it from returns or by paying tax on the stake but the tax was famously lifted in July 2001. Bookmakers are now taxed on their gross profits at a rate of 15%.
Book – The term given to odds being quoted and accepted on a given sporting event. E.g A “bookmaker” provides these services.
Bookie (UK) – The individual or establishment that offers odds on sporting events. The bookmaker.
Bookmaker – The individual or establishment that is licensed to provide betting services to its customers. Also known as a sportsbook (US).
Bridge-Jumper (US) – A punter who places substantial bets on the odds-on favourite of a sporting event.
Buck (US) – Term given to a bet of $100.
Burlington Bertie – The price of 100/30.**
Buy Price – Index/spread betting term given to the higher price quoted.
Buy the Rack (US) – When a punter purchases every possible daily-double or other combo ticket.
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C
Canadian - Name given to an epic combination bet which involves placing 26 bets including 5 selections in different events The bet consists of 10 doubes, 10 trebles five 4-folds and a 5-fold. Sometime known as a Super Yankee.
Carpet Joint (US) – Slang name given to a luxury casino.
Case money – Money which is to be used for emergency purposes only.
Century (UK) – Term given to £100. Also get back money that was lost on a previous bet. known as a ton.
Chase – Desperate bet placed in an attempt to
Chalk – Name given to the favourite in a sporting event.
Chalk Player (US) – A punter who tends to bet on the favourites.
Circled game (US) - A game that has a maximum betting limit. The bookmaker will limit the amount of bets they take on a game/sporting event if there are doubts about key players.
Closing line – The final list of point spreads offered before a game starts.
Combination Bet - Selecting multiple horses to come in at first or second place.
Cover - In sports betting, to beat the spread by the required number of points.
Credit Betting – To bet using credit acquired from a bookmaker.
C of E (UK) – Slang term for Customs and Excise.
Client (US) – A person who buys betting information from a tipster.
Clocker (US) – Someone who record the times of workouts, for betting info purposes.
Consolation double (US) - When a horse is pulled out of the 2nd race after daily double betting begins, money is put aside to pay those who have bought tickets pairing this horse with winner of 1st race.
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D
Drop - The amount of money lost.
Dime bet (US) - Term given to a $1000 wager.
Dividend – The payout agreed by the bookmaker in the event of a win.
Dog (US) - Term given to the underdog in a sporting event.
Dog Player (US) – Punter who likes to bet on the underdog.
Dollar Bet – Term given to a $100 wager.
Double(s) – A twin bet on two different sporting events or two distinct parts of the same event. A type of accumulator.
Double or nothing –A bet that pays the exact amount wagered. So if £10 was wagered the return would be £20 (£10 winnings +£10 stake) Also known as Even money.
Draw - 1.) When competitors finish equally in a sporting event. 2.) The draw for which the position a horse shall occupy in the stalls at the start of a flat race is made on the day before the race at the overnight declarations office and is drawn by lot.
Drift - Term given to odds that have lengthened.
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E
Each way bet (UK) - To bet each way is to stake equal amounts for a win and a place. So if you bet £10 e/w (each way) on a horse you would be betting £10 for it to win and £10 for it to be placed (£20 in total).
Even Money - A bet that pays the exact amount wagered. So if £10 was wagered the return would be £20 (£10 winnings +£10 stake) Also known as double or nothing.
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F
Favourite/favorite – The team or individual that bookmakers think are the most likely to win in a sporting event. Will have the shortest odds in the field.
Field – 1.) The total number of competitors in a particular sporting event. 2.) In horseracing betting terms it means the shortest-priced horse in any given field (favourite) i.e. “six to four the field”.
Fixed Game – A sporting event where the participants purposefully act to fix the final score of a game.
Fixed Odds – If you place a bet with fixed odds, your potential returns are fixed at those odds regardless of any future fluctuation in the betting market.
Flag – A bet made up of 23 bets on 4 selections in different events.
Flash (US) – Term given to a change in the odds info section of the tote board.
Fold - A fold indicates the number of selections in any given accumulator (e.g. 4-fold = 4 selections).
Forecast - A bet where the punter has to correctly predict 1st and 2nd place for a particular sporting event.
Full Cover – All the doubles, trebles and accumulators involved in a given number of selections.**
Futures - Betting that takes place before the day of a major sporting event. Can be as much as a year before the event. Attraction for punter is that they might be offered longer odds than they would on the day. However stakes are lost if the selection is disqualified/pulls out. Also known as Ante Post betting.
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G
Goliath – Term given to a huge multiple bet consisting of 28 doubles, 56 trebles, 70x4-folds, 56x5-folds, 28x6-folds, 8x7-folds and one 8-fold (247 bets in total with 8 selections in different events.
Going – The state of the ground for a race meeting. The following official categories appear in the form book and are given in advanced forecasts I the newspapers: hard; firm; good to firm; good; good to soft; soft; heavy. In muddy conditions the form book may also note “soft with heavy patches”. The state of the going is perhaps the most important random factor in determining the outcome of the race.
Grand (UK) – Term given to £1000.
Grand Salami (US) - over/under total for the combined score of all the hockey contests on the schedule for that day.
Grand Slam - In tennis, to win all four of the world’s major tennis tournaments: Australian Open, French Open, US open and Wimbledon. In golf, to win all four of the world’s major tournaments: The British Open, Masters, PGA Championship and the U.S. Open.
Get on – To have you bet accepted.
Group bet –Betting between a selected group of teams or players, not necessarily in direct competition with each other.**
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H
Handicap – In horseracing, a handicap is a race in which horses are allotted different weights in order to give each of them, theoretically, an equal chance of winning.
Hang Cheng – The Asian equivalent for “Point Spread”.
Heinz – Term given to a large multiple bet consisting of 15xdoubles, 20xtrebles, 15x4-folds, 6x5-folds and one 6-fold (57 bets in total with 6 selections in different events).
Home Field Advantage - The perceived advantage a home side feels they have when they play at their home ground.
Hoops (US) - Slang term describing basketball.
I
Index Betting – Also known as spread betting
In the Red – The favourite in a sporting event.
IBF - International Boxing Federation.
In and Out Teaser - An "in and out teaser" is when the player picks the favourite, underdog, over and under of the same game. For example: NY +3 1/2, Dallas -3 1/2. An in and out teaser would have a player take both NY and Dallas, and tease both, to increase the odds of winning the wager. So, if you teased both teams by 7 points, you would have: NY +10 1/2, Dallas +3 1/2. So long as the spread is covered, your wager will be a win. ***
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J
Joint – The name given to the bookmakers temporary “establishment” on a race course.
Joint Favourites - If a bookmaker or sportsbook cannot pick out a clear favourite in a sporting event, two or more competitors may become equal favourites. Odds given for these individuals to win will be equal.
Jolly – The bookmakers term for a favourite in a sporting event.
Juice – The cut the Bookmaker’s takes during the betting process.
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K
Kite (UK) – Slang term for a cheque.
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L
Lay a bet – A bookmaker accepting a bet.
Layer – A Bookmaker
Layoff – A bet made between two bookmakers when one has accepted too much betting action from their customers. Lay a Bet - A bookie accepting a bet.
LBO (UK) - Licensed Betting Office.
Lengthen - When odds lengthen it means that the bookmaker will pay more out for a given selection.
Line Betting - It is an even-money paid bet where you take a position either side of two possible outcomes of the event. e.g. England runs vs. Australia may quote 225-230 (a bit like a spread), thats called the Line. Selling the Line means you win if they score less than 225 and Buying the line means winning if they score more than 230. This is popular in the U.S.
Lines – Term given to the odds offered to the punter.
Linemaker - Name given to the person/establishment who compiles or sets the original betting lines.
Lock (US) - A firm favourite. Very likely to win.
Long odds – Terms given to odds grater than 10-1.
Lucky 15 - A Lucky 15 consists of 15 bets involving 4 selections in different events, i.e. 4 singles, 6 doubles, 4 trebles, and 1 fourfold. As a consolation if you only have one winner it will be paid at double the odds. If you get all four winners, a 10% bonus will be added to your returns. **
Lucky 31 - A Lucky 31 consists of 31 bets involving 5 selections in different events, i.e. 5 singles, 10 doubles, 10 trebles, 5 four-folds plus 1 five-fold. . As a consolation if you only have one winner it will be paid at double the odds. If you get all five winners, a 20% bonus will be added to your returns. **
Lucky 63 - A Lucky 63 consists of 63 bets involving 6 selections in different events, i.e. 6 singles, 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and 1 six-fold. As a consolation if you only have one winner it will be paid at double the odds. If you get all six winners, a 25% bonus will be added to your returns. **
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M
Margin – The degree in which a competitor finishes in front of their rivals in a sporting event.
Match Bet – A bet between two teams or people, not necessarily in competition with each other. e.g. two golfers who will be trying to win their tournament, not beat each other or be aware that the bet exists.***
MLB (US) – Major League Baseball
Money Line – Odds favoured by American bookmakers given on a straight-up game outcome. E.g If money line is quoted to be $400 for a team it means that a $100 wager will win $400 (4/1). If the money line is quoted to be negative for team e.g -$400 it means that you would have to put on $400 to win $100.
Multiples – When many bets are combined.
MVP – Most Valuable Player.
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N
Nap – A sports journalist’s tip of the day (Napoleon).
NBA – National Basketball Association.
NCAA – National Collegiate Athletic Association
NFL - National Football League
NHL - National Hockey League
Nickel – Term given to a $500 wager.
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O
Odds – The traditional way that bookmakers represent the probability that a given team or individual will win a sporting event. E.g Odds of 4/1 mean that for every £1 staked £4 will be received in winnings. The way odds are displayed can vary from country to country.
Odds-against - When the odds offered are greater than evens. E.g the bookmaker does not see this competitor as a favourite e.g 4/1. **
Odds Compiler – A person/organisation who sets the sportsbetting odds. In US most sportsbooks use odds set by a Las Vegas odds compiler. Also known as an oddsmaker.
Odds-on – An odds on bet means the bookmaker thinks the selection is likely to win. In the US, an odds-on bets have a minus in front e.g. -$200 (that is $200 must be wagered to receive $100 in winnings). In UK it is a bet where the odds are below evens 1:1. In Europe it is a bet on odds below 2:1.
Oddsmaker - A person/organisation who sets the sportsbetting odds. In US most sportsbooks use odds set by a Las Vegas oddsmaker. Also known as an odds compiler.
Off the Board (US) - A sporting event where the sportsbook will not take any bets from punters.
Outsiders – The teams or individuals that are not expected to win in a sporting event. Bookmakers will offer long odds on outsiders making them a bet for the opportunist.
Over/Under – A type of bet where the punter must correctly predict whether the total points/goals scored by both teams in a sporting event will be over or under a specified number.
On tilt - When an individual become irrational and places bets on almost anything. Usually occurs after a large loss/sting of losses.
Overlay – A price offered by a bookmaker for a particular result that is greater than the true odds for it to happen.
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P
Paddock - Before a race, horses are led round the parade ring in the paddock area. This is a good opportunity to assess them for looks, temperament and fitness.
Parlay - A multiple bet where the punter makes simultaneous selections on 2 or more sporting events with the intent of placing the winnings of one bet on the bet of the following event. As a result the returns for a winning accumulator bet are larger than placing separate bets. For the punter to win all their selections must come in. Also known as an Accumulator.
Patent – multiple bet consisting of 7 bets involving at least 3 selections in different events.
Permutations - To 'perm' selections. E.g. if a punter makes 4 selections (A, B, C and D) they can 'perm' all the possible doubles. In this case the possible doubles are AB, AC, AD, BC, BD, CD; a total of 6 individual bets.
Picks – An expert’s recommended betting selections.
PK or Pick – When two teams or selections are equally matched.
Place – When a team or individual finishes in the top three, four or five in a sporting event (this depends on the specific bookmaker). A place bet will pay if your selection is amongst those placed at the end of the event.
Plater - Name given to a horse which usually will run in selling races.
Point Spread – The points that are applied to the underdog in order to level the odds with the favourite in a sporting event.
Pool – The total amount collected in bets on a horse race. The pool is used to pay the successful punters who correctly picked the winning/placed horse.
Price – Term given to the odds.
Pucks (US) – A game of Hockey.
Punter – A person who places bets. Also known as a bettor (US).
Push – A tied game (when you factor in the point spread).
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Q
R
Racing Calendar - Name of the official and expensive weekly publication which gives entries in full for future races, weights allocated in handicaps, as well as other information such as details of the official findings of inquiries, fines imposed, list of unpaid forfeits and other notices.
Rails – In horse betting, the rails which separate the different betting rings.
Racing plates - Lightweight horseshoes specially fitted for racing.
Ratings - Ratings are the expression in figures of a horse’s ability. Every year there is an international meeting of handicappers which includes in its findings the seasonal order of merit in Europe on the flat.
Record sequences - Most prolific winner among British-trained fillies and mares since the war was the late Branston Abby trained by Mark Johnston, who broke the existing record with her twenty-third victory in the sprint in Munich in 1996.
Result - The result is the outcome of the race. If a bookmaker “gets a result” they have made lots of money.
Return – The total winnings on a bet.
RHT - Initials of the Racecourse Holdings Trust. Formed in 1964, this is a non-profit making company whose directors receive no fees, and is a wholly owned subsidiary of the jockey club with the prime objective of preserving racecourses for horseracing.
Ringer - Name given to an older horse illegally running in a race in the name of a younger one. Because of more mature development, a four year old, for example, early in the season, has a tremendous pull in the weights if he can masquerade in a race confined to 3 year olds.
Rouf (UK) – Cockney rhyming slang for the odds of 4/1.
Round Robin – A multiple bet consisting of 10 bets involving 3 selections in different events i.e 3 pairs of “single stakes about” bets, 3 doubles and 1 treble.
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S
Scalper – A punter who profits from the differences in odds given by the various bookmakers by betting on both teams in the same game.
Selling race - This is a race after which the winner must be offered for sale at auction on the racecourse, and is sometimes abbreviated to (S) Race in the title. A reserve price has to be specified. If the winner’s owner and trainer wish to keep the horse after a bid has been made, they must bid a better price.
Shorten – Refers to odds that become less attractive to the punter i.e. a horse’s odds shorten from 20:1 to 5:1.
Shut Out (US) – When the losing side of a sporting match fail to score a point.
Single - A bet on one selection to win in a single race or sporting event. Also known as a straight-up bet.
Single Stakes About (SSA) - A combined bet consisting of 2 bets placed on 2 different selections. Any subsequent returns from a successful selection is reinvested on the other selection. Also known as vice-versa.
Sportsbook (US) - The name given to a bookmaker. • Spread – Point Spread.
Spread a plate - The expression used when a horse has damaged or lost a racing plate before the start, which is delayed while the farrier is summoned to re-shoe him/her.
Spreads - Term given to handicaps.
Spread betting - A form of betting where returns or losses are calculated in proportion to how right or wrong the punter is, unlike fixed odds where potential winnings and losses are set at the time the bet struck (or at the time the event starts in the case of SP).
Sprinter - The term given to horses that specialise at racing at the minimum distances on the Flat (i.e. five or six furlongs).
Stanley Cup - Championship of Hockey.
Starting price - Usually abbreviated to “SP”. Starting prices are the odds which appear in the newspaper results columns, are broadcast on television and radio, and form the basis for the pay-out in betting shops and by credit bookmakers.
Stayer - The term given to a horse which specialises at racing over the longest distances on the Flat- that is two miles plus.
Steam – Term referring to when a betting line starts to increase in pace, the main cause of which is an increase in punters betting on it.
Store – Name for the bookmaker/sportsbook.
Straight up – Even money
Stuffy horse - A horse that needs a lot of work to keep its breathing clear (opposite to a “clean-winded” horse)
Super Bowl - NFL Championship game.
Super Heinz - A combination bet which involves placing 120 bets including 7 selections in different events. E.g. 21 doubles, 35 trebles, 35 four-folds, 21 five-folds, 7 six-folds and 1 seven-fold.
Super Yankee - Name given to a combination bet which involves placing 26 bets including 5 selections in different events The bet consists of 10 doubles, 10 trebles five 4-folds and a 5-fold. Sometime known as a Canadian.
System – A method, mathematical or otherwise, that is used by a punter to give them an advantage over using traditional gambling methods.
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T
Teaser – A bet on two or more teams where the bettor can add or subtract points from the spread to make their bets stronger in return for reduced odds. All results must match the selections to win the teaser. **
Tic-tac - Betting moves, money put on, who has put it on- all by signalled by the white-gloved representatives of bookmaker firms, and read by their own tic-tac men. Basically a form of secretive sign language used in the business in Scotland and England. Gradually being replaced by the use of walkie-talkies.
Thick’un – A large bet.
Tie – Alternative name for a draw/push.
Tips – The recommended betting selections put forward by a betting expert.
Totals – A bet where the punter speculates on whether the total number of points/goals scored by both teams is above or below a given mark.
Tote - The usual abbreviation for the Horse Totalisator Board. The Tote is also more popularly known as “the nanny” (Nanny goat = Tote cockney rhyming slang). It provides an alternative means of betting to the bookmakers, and was instituted by Act of Parliament in 1928.
Trebles – A combination bet on 3 events. A form of accumulator.
Triple Crown - Winning the 2000 guineas, Derby and St. Leger constitutes the English “Triple Crown”.
Trixie - A combination bet consisting of 4 bets which involve 3 selections in different events.
True Odds - The actual odds of a particular event occurring as opposed to those offered by the bookmaker.
Turn on foot - A commonly used expression meaning a horse’s capability for speed and/or acceleration which also is sometimes referred to as “toe”.
Two and Three Balls Betting - A bet in golf in where you must predict which player out of a group of 2 or 3 will achieve the lowest score over 18 holes.
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U
Underdog – The team that is not favoured to win and as a result it will receive a point start in a handicap.
Union Jack – A combination bet consisting of 8 trebles on nine different selections.
Under starter’s orders – When the official starter of the race is satisfied that all the runners in the race are at the start (in flat races, in the stalls) and ready to race, a flag is raised signalling that the field is under orders and 'off'. Bets on any runner failing to start after this signal, are lost. ***
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V
Value – When you get the best odds available on a wager.
Vigorish (Vig) – Bookmakers commission.
Vice-versa - A combined bet consisting of 2 bets placed on 2 different selections. Any subsequent returns from a successful selection is reinvested on the other selection. Also known as Single Stakes About (SSA)
VS - Versus
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W
WBA – Abbreviation for the World Boxing Association
WBC - Abbreviation for the World Boxing Council.
Welsh/Welch – When someone fails to pay for a bet.
White meat – Slang term for profit.
Win Only – A bet that backs a certain competitor to win a sporting event. Also known as Straight Out/ Money Line betting.
Wise Guy – An experienced and knowledgeable punter.
WNBA - Women’s National Basketball Association.
World Series – Name given to the Championship of Major League Baseball (MLB) in the United States.
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X
Y
Yankee – An accumulator consisting of 11 bets made up six doubles, four trebles and one 4-fold.
Yearling - Horse of either sex from 1 January to 31 December of the year following its birth.
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Z
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