BETTING TERMS
BY XPERTBET
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ODDS Odds are referred to as the "price" for a horse in a race. The bookmakers set the prices according to what they believe are the horse's chance of winning. The more likely they think a horse is to win, the shorter the horse's price will be. For example if a horse is priced at 3/1 then the bookie is saying that if that exact race was run 4 times that horse would win it once. Or in percentage the horse has a 25% chance of winning. There are three different ways odds can be presented. Depending on which market the bookmaker targets. Odds are presented by either the American, British or European standard.
American Odds
The American system is different the odds can be positive or negative. The system is based on “evens” (1/1) being expressed as 100.00. If an event is odds on then the figure is preceded by a minus “-” and represents the amount you have to stake in order to win 100 units. If an event has odds greater than evens then it is a positive figure and represents the amount you win for every 100 units staked.
British – Factional Odds
The traditional British way is to describe the odds as a fraction e.g. 6/1 or "Six to One". When the first figure is higher than the second it is called "odds against". The 3 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
amount won will be greater than the original stake. For example if the odds offered were 6/1 then for every £1 staked you would win £6. When the first figure is smaller than the second it is called "odds on" and the amount of winnings will be smaller than the stake. For example if the odds offered were 4/8 then for every £8 staked you would win £4.
European – Decimal Odds
Unlike the British fractions the European system deals in decimals. The figure quoted is the return a punter receives (including the stake) based on a bet of 1 unit. To transfer from British odds to European odds simply divide the first number by the second number and add 1. So odds of 4/1 become 5 (4 ÷ 1 + 1 = 5) and odds of 4/8 become 1.67 (4 ÷ 8 + 1 = 1.50) The betting exchanges all use the European odds system so it is something you are going to have to learn to recognize.
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LAYING Laying a bet means you are betting on something not to happen. Laying its like being a bookmaker where you offer odds on sports. With the introduction of betting exchanges like Betfair, you can now offer odds on horse to win, and hence profit when they lose.
Why do you want to lay?
The attraction of laying (or offering odds) is that it offers you a lot of flexibility because you are offering odds on the event rather than accepting odds given to you by a bookmaker.
How does Laying work?
To be able to lay a bet with Betfair you need to have enough cash in your account to be able to pay out if the event you are offering odds on happens. For example if you wanted to lay a horse at 5/1 (6.00) and you had £100 in your account, you would be able to take bets up to a total stake of £20. If the horse wins you have to pay out £100 to the people who have bet £20 with you at 5/1. If it loses, you get to keep the £20 people have bet with you.
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STAKE A staking plan is a method of controlling how much each bet should bet. There are simple staking plans and there are more complicated plans. But at the end of the day all staking plans have the same purposes: To ensure that the possibility of going bust is kept to a minimum and to try to get as high a return as possible! Human beings are notorious about being lazy, over optimistic or fall foul of one of many of our many foibles which make up the human condition. Without a staking plan it is so easy to see one's betting bank go under. I have seen people go bust (when one's betting account reaches zero) because they thought that they didn't need a staking plan. I have never seen anyone succeed without one no matter how disciplined they are or, more accurately, how disciplined they claim to be. There are two aspects to successful betting; the first is to have the right selections. Without a decent set of selections one is never going to make a profit no matter what one does. The other aspect is the money side of things; how much does one put onto the next bet? This is the function of the staking plan; without this one could be placing the wrong stake onto the wrong horse. Ultimately betting without a staking plan will negate good horse selection. My advice is that your stake must be a maximum of 0.5% to 1% of your bank. No matter if you lose or win your stake will be always 0.5% to 1% of you last bank. 6 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
TERMS Bank or house (casino): The organization that conducts gambling activity (gaming or wagering). In a house-banked game, the player is gambling against the house; that is, the house is a player in the game. In a player-banked game, the players make wagers against one another, and the bank or house is a neutral observer, usually receiving a set fee regardless of which player wins the game. Book, bookie: The taking of bets on races or sports events or on the drawing of numbers. A person who makes book, or takes the bets, is called a bookie, although that term is usually reserved for one who takes bets where gambling is illegal. Chance: An outcome that is determined by a randomly occurring risk that can be calculated. The odds—the probabilities—of a game of chance are known, and a person makes wagers with the knowledge that a random event will determine the outcome. In pure chance games the player cannot affect the outcome with the use of any skill he or she may possess. Drop: The amount of money that the players put into action with their play. This is the money the player brings to the game and puts at risk. For a casino, it can be measured by the sale of chips from the cage and tables and also by counting cash bets made. For instance, if a gambler brings $100 with him to a blackjack table and plays for several hours (winning and losing), the drop is $100. On the other hand, the handle (q.v.) may be several multiples of $100, as the player could accumulate large wins and then keep playing them until he or she decides to leave the table. Exotic bets: These are combination bets at horse tracks, dog tracks, and jai alai games. They include the daily double, exacta, trifecta, and quinella. In the daily double betting combination, the bettor makes a wager on which two horses (or dogs) will win two designated races. Both must win for the wager to be successful. The exacta is a combination bet in a specific horse or dog race in which the bettor seeks to predict the first- and secondplace finishers in the race in exact order. In a trifecta, the bettor makes a wager on the first three finishers in order. Another combination bet is the quinella. Here the bettor picks the first two finishers, and if they are first and second or second and first, the bettor wins. 7 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
Gambling: An all-encompassing term covering activities in which a player places something of value at risk in order to win a prize of greater value should a chance (or an event determined at least in part by chance) occur. The chance events are usually determined by the outcomes of card or dice games, roulette or big wheels, contests, or the drawing of lots or raffle tickets. The legal definition of gambling contains three main elements: consideration, chance, and prize. Gaming: Gambling activity at games in which a player (gambler) is a participant, as opposed to bets on the outcomes of contests involving other people (sports or racing) or bets on the drawing of lots or raffle tickets. The term gaming is the preferred term used by casino executives to describe the activities taking place in the facilities. Grind joint: A casino or gambling facility that seeks to gain revenues from smaller gamblers by having maximum levels of play. This type of casino is the prevalent form in riverboat and Native American jurisdictions. This kind of play is found in Nevada in casinos that cater to local residents. Also, most of the play in Atlantic City is a grindtype play. The grind casino is contrasted with high-roller, tourist-oriented casinos such as Caesars Palace and the Venetian, found on the Las Vegas Strip, as well as finer European facilities such as Baden- Baden and casinos in Monaco. Handle: The total amount of money that is gambled (played) on games or contests over a period of time. For lotteries and horse races, it would include all the bets made; for machines, it would include all the coins placed into the machine, regardless of the number that came out as a result of player wins. For a casino table game, the handle is difficult to determine, as it consists of all the bets made in every game, whether by chip or by cash play. Hit: There are various uses for the term hit. It indicates a player’s desire to have another play or, in the game of blackjack, to have another card dealt to him or her. The term is also used to designate a onetime bet of a player against another player or against the house (casino). Casinos operate on the principle known as the law of large numbers. Using this principle, they may allow high rollers to make very large bets with the understanding that such a player will continue to make the large bets over a period of time. A onetime hit is very risky for a casino, as the casino cannot use its long-term-odds advantage over the player to make up for occasions when the player will win the hit. Therefore most casinos will limit the size of single bets they allow a player to make. 8 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
Hold: The amount of money that the house wins from the player over a period of time. If the player drops $100, plays for a period of time, and then leaves the table with $80, losing the rest, the casino has held $20. Junket: A junket is an excursion that is organized to bring a large number of players to a casino so that they will gamble, in most cases, a large amount of money. Quite often the casino will pay much if not all of the travel expenses of the players (such as transportation, room, food, beverage, as well as entertainment) in addition to giving a fee to a junket organizer. In exchange for the discounts or free gifts, the player will agree to gamble a certain amount of money over a specified period of time. Although mid-market and low-market casinos (often called grind joints, as they wish to grind their profits out of players) will have bus tours for daytime or weekend players, the term junket is usually applied to tours arranged for wealthy players by the more upscale casinos. The junkets are closely supervised by gambling regulators as well as by the casinos. Junket players are very often playing on credit lines. Junkets have been used to skim (take money illegally) from casinos. Sometimes players will use false credentials (sometimes false identities) to establish their large credit lines, and they will not play all the money advanced to them. Unscrupulous junket operators may extract fees from casinos as payoffs for illegal (unlicensed) ownership of the casino. Also junket operators may be loan sharks operating on behalf of the casinos. Where used properly, however, the junket is a very important element for marketing casino products. Las Vegas Line: The betting odds or point spreads that are offered for sports betting in Las Vegas casinos. These odds and point spreads are listed in the larger casinos first and then they are imitated by smaller casinos and also by illegal betting operations that operate throughout the country (and the world) and through the Internet. Luck: The experience of success following a randomly occurring event. Games of luck are tied essentially to randomness, and the risks of the successful random events are subject to laws of probability. The player cannot affect the results by his or her efforts on a single play, but the odds of attaining success are subject to calculation. (Synonymous with chance, q.v.) Odds: The advantage that one side of a wager has over the other. In housebanked games, the casino will have an odds advantage in an actual game, or it will have an advantage in the payoff structure used in the game. 9 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
Player: The person making the bet, wager, or gamble. Other terms for players include bettor, gambler, gamer, punter, or plunger. Rake: A part of the pool of funds that the casino (or house) takes from a game such as poker, in which the players are competing against one another. It is essentially the same as the portion of the bets that a racetrack takes from all bets on a race. Skill: The ability of a player to affect the outcome of a game by utilizing a talent either as the result of personal qualities or training or study. Where skill may be a major factor in determining the outcome of the game, the game is called a skill game. For game players, most athletic contests are considered skill games—that is, a skilled football team will defeat a less-skilled team a large proportion of the time if they meet in games repeatedly. Games such as dart games are skill games. In casinos, card counters have the ability to use skills at blackjack games. Wagering: The betting or staking of money on the outcome of an event such as a sports contest, a horse race, or a dog race. Win (casino), or gross gaming win: The amount of money the casino (house) holds over a period of time. The gross gaming win is actually the amount bet minus the prizes given back to the players. This is also referred to as the casino’s gaming revenue. GENERAL BETTING Single
A Single is 1 bet on 1 selection, player or team in a particular event. Your selection must win that event for you to get a return.
Double
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A Double is 1 bet made up of 2 selections, players or teams in 2 different events. For you to be successful both selections have to win.
Treble
A Treble is 1 bet made up of 3 selections, players or teams in 3 different events. For you to be successful all 3 selections have to win.
Accumulator
An Accumulator is 1 bet with 4 or more selections, players or teams taking part in 4 or more different events. For you to win all of your selections must be successful.
Trixie
A Trixie is a full-cover multiple bet made up of 3 selections in different events. A Trixie is made up of 4 bets - 3 doubles and 1 treble. To get a return, a minimum of 2 selections have to win.
Yankee
Similar to a Trixie, but consisting of 4 selections from different events. A Yankee is made up if 11 bets - 6 doubles, 4 trebles and 1 accumulator. A minimum of two selections have to win for you to receive a return. 11 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
Canadian
Another full-cover multiple bet, this time with 5 selections from 5 different events. A Canadian has 26 bets - 10 doubles, 10 trebles, 5 fourfolds and one accumulator. A minimum of two selections have to win for you to receive a return.
Heinz
A full-cover multiple bet, this time with 6 selections from 6 different events. A Heinz has 57 bets - 15 doubles, 20 trebles, 15 fourfolds, 6 fivefolds and one accumulator. A minimum of two selections have to win for you to receive a return.
Patent
A Patent is a full-cover multiple bet with singles. It consists of 3 selections and is made up of 3 singles, 3 doubles and 1 treble. With this bet only one selection has to win for you to receive a return.
Lucky 15
Similar to a Patent but with 4 selections from 4 different events. A Lucky 15 is made up of 15 bets - 4 singles, 6 doubles, 4 trebles and 1 fourfold. Only one selection has to win for you to receive a return. 12 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
Each-Way
An Each-Way bet means 2 bets; one bet on your selection to win, and one bet on your selection to place. More...
Forecast
This bet consists of 2 or more selections from one event, and is available on horseracing and greyhound racing, subject to a minimum number of runners taking part. To win your two selections must finish in 1st and 2nd place, in the order you specify. Forecasts are available in singles, doubles and trebles. Reverse forecasts are also available whereby your two selections can finish in either order. The stake for this bet is doubled.
Tricast
A Tricast consists of 3 or more selections from one event, and is available on horseracing and greyhound racing, subject to a minimum number of runners participating. In this bet you must successfully nominate the first 3 past the post in the correct order. Tricasts can be placed "straight" with 3 selections, or "combinations" (permed) with 3 or more selections. Tricasts are available as singles only. 13 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
Race Dual Forecast
(Formula 1) A Race Dual Forecast is similar to a Forecast (above). You must precict the two drivers to finish 1st and 2nd (in any order).
Race Match Betting
(Formula 1) Bet on which of two drivers places best in a race.
Points Finish
(Formula 1) Bet that a driver will finish on one of the points places (the six first places).
Podium Finish
(Formula 1) Predict a driver will finish 1st, 2nd or 3rd.
FOOTBALL BETTING
Asian Line
You must either select the favoured team to overcome a handicap (framed in goals) or oppose the favourite with the handicap. More... 14 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
First Player to Score
In this bet the customer predicts the footballer who will score the first goal in a specified match. This bet is available on selected matches only. More...
Goal Crazy
Predict the total number of goals to be scored in a match from 3 options. Minimum trebles accepted.
Halftime/Fulltime
For Half Time/Full Time betting, predict the outcome at half-time and at the end of regulation 90 minutes play. More...
Season Match Bet
Predict which of two teams will place highest in the league at the end of the season.
Correct Score
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A Correct Score bet is a bet predicting the final score in a football match, at the end of 90 minutes play. Correct Score bets can be placed as singles, doubles and upwards, subject to our Football Rules.
Scorecast
A single bet consisting of two selections from the same event, with the customer forecasting the Correct Score and also the First Player to Score.
List of sports betting terms Below is a list of sports betting and gambling terms:
Accumulator: A cumulative bet where the bettor designates a selection in several races or events and bets on the first one; if he wins, the winnings become his bet on the next; and so on (also see fold bets).
Action: A wager of any kind and the total amount of money being wagered on any game. In baseball betting, this means placing a bet regardless of the listed pitchers.
Across the Board: Where (particularly US horse racing) win, place and show pools are offered, this is a bet of equal stakes on each outcome.
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Action: A bet or wager of any kind is deemed Action if valid. Different rules apply in different sports in determining if a bet is action or no action (e.g. baseball bets are action when the game gets beyond 41/2 innings).
Ajax: UK Slang term for Betting Tax.
Also Ran: Any selection not finishing 1st, 2nd, 3rd or 4th in a race or event.
Ante-Post: Ante-post prices are those on major sporting events, usually prior to the day of the event itself. In return for the chance of better odds, punters risk the fact that stakes are not returned if their selection pulls out.
Any To Come (ATC): Term used to describe when the whole or part of returns from one wager are automatically reinvested on a subsequent bet.
ATS: "Against the Spread". The outcome of using a point spread. Ex. The Ravens were a -7.5 favorite to win and actually won the game by 8. This means they won "against the spread".
Arbitrage: Where a variation in odds available allows a punter to back both sides and guarantee a win.
Bankroll: The total amount of money the bettor plans to gamble with. 17 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
Bet: Any wager that is risked on the outcome of any sporting event or any event for that matter.
Blind Bet: A bet made by a racetrack bookmaker to draw other bookmakers' attention away from his sizeable betting on another horse- and thus to avoid a shortening of the odds on the other horse.
Book: A bookmaker's tally of amounts bet on each competitor, and odds necessary to assure him of profit.
Bookmaker: A person or company who accepts bets from the public, usually on racing or sports events (also known as a "bookie").
Buck: A $100 bet.
Canadian Line: In sports betting the Canadian line is a combination point spread and money line in hockey.
Chalk: A team or player that is favored to win.
Chalk Player: A player who mostly wagers on favored teams and rarely bets on underdogs.
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Circled Game: A game where the maximum bet is reduced and cannot be included in parlays or teasers. Betting action is limited due to uncertainties of key injuries, weather conditions or rumors regarding a team.
Client: Purchaser of betting information from horseman or other tipster.
Clocker: Person who times workouts, usually for betting information.
Close: Final odds on a horse (e.g. "closed at 5 to 1"). Confusingly equates to "Starting Price" in the UK.
Cover: To win a bet against the point spread.
Daily Double: A horse racing wager where a player must pick the horses to win in each of two designated races.
Dead Heat: When two horses finish in a tie.
Dime bet: A $1000 wager.
Dog: The team or player predicted to likely lose a game or matchup. The dog always has a + sign on lines and point spreads. Also known as the underdog.
Dog Player: A bettor who usually bets on underdogs. 19 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
Dollar Bet: A $100 wager.
Double Action: An "if bet" that is processed if the precedent bet wins, ties or cancels.
Edge: An advantage.
Even Money: A wager on which neither side lays any juice or vigorish. The odds are even for both teams.
Exacta: The first two horses to place in a race.
Exotic Wager: A bet such as first half, second half, futures, run lines or money line wagers.
Exposure: The amount of money the bookmaker will risk losing on a game or race.
Favorite: The team or player expected to win an event. The odds reflect the extent to which the choice is favored.
First Half Wager: A bet placed on only the first half of a game.
Form Player A bettor who makes selections from past-performance records. 20 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
Furlong: A unit of distance used in horse racing equal to 1/8 of a mile or 220 yards.
Futures: Odds posted on an event or outcome taking place some time in the future, such as the Super Bowl, World Series, the Stanley Cup and the NBA Championship.
Goliath: A multiple consisting of 247 bets (28 doubles, 56 trebles, 70 4-folds, 56 5folds, 28 6-folds, 8 7-folds and 1 8-fold) involving 8 selections in different events.
Gross Win: The amount of winnings before subtracting the expenses.
Grand Salami: The grand total of goals scored in all hockey games of the day. It can be wagered to go Over or Under the total.
Half Time Bet: A bet placed only on the second half of the game. ( Includes Overtime).
Handicapper: One who handicaps, studies, rates and wagers on sporting events or horse races.
Handicapping: Studying and predicting the outcome of sporting events.
Handle: The total amount of bets taken. 21 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
Hedging: Placing a bet on the opposite side in order to cut losses or guarantee a profit from the same previous wager.
Hold: The percentage the house wins.
Hook: A half-point in point spreads.
Hot Game: A game that draws a significant amount of action on one side by professional handicappers.
In the Money: Describes the horses in a race that finish 1st, 2nd and 3rd (and sometimes 4th) or the horses on which money will be paid to bettors, depending on the place terms.
Joint Favourites (jt-fav) When bookmakers cannot separate two horses or teams for favouritism, they are made joint favourites.
Jolly The favourite.
Juice: The bookmaker's commission, also known as vigorish.
Laying points: Betting the favorite by giving up points.
Laying the price: Betting on the favorite by laying money line odds. 22 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
Limit: The maximum amount a bookmaker will allow you to bet before he changes the odds and/or the points.
Lines: The current odds or point spread on any particular sporting event.
Linemaker: The person who establishes the original and subsequent betting lines.
Listed Pitchers: When betting on baseball, a wager placed that pitchers scheduled to start a game, actually start. If they don't, the bet is voided.
Lock: A sure winner.
Longshot: A team or horse unlikely to win or have a chance at winning. (e.g. 100 to 1)
Middle: To win both sides of the same betting proposition. Betting the favorite team at -2 1/2 with one sportsbook and then taking +3 1/2 with another one. The game ends up with the favorite winning by exactly 3 points, you have then "middle the game". A favorite betting method of "wise guys".
Moneyline: Odds expressed in terms of money. The amount you must bet to win 100 in favorites or the amount you win on underdogs. Whenever there is a (-) minus you 23 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
lay that amount to win a hundred dollars, where there is a plus (+) you receive that amount for every hundred dollars wagered.
Morning Line: Forecast of probable odds
Move The Line: A player pays an additional price to receive a half-point or more in his favor on a pointspread.
Mutuel Pool: Total amount bet to win, place or show in a race. Also total amount bet on daily double, exacta, quinella, etc...
Nickel: A $500 wager.
Nickel Line: A line where the juice is 5%.
No Action: A bet in which no money is won or lost. A cancelled or voided wager.
Odds: Odds are the bookmaker's view of the chance of a competitor winning (adjusted to include a profit).
Odds-Against: Where the odds are greater than evens (e.g. "5 to 2").
Odds Compiler The person working for the bookmaker who sets the odds following research and his own feelings. 24 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
Off the Board: A game on which bets are no longer accepted.
Off-Track: Betting conducted away from the track.
Official Lines: The line that the sports books use for wagering purposes.
Overlay: When the odds of a given propositon are more in favor of the bettor than the house.
Over/Under: The combined scores of both teams competing in a game being wagered on. Betting whether the total score will be over or under the expected posted total.
Pari-Mutuel: A means of gambling on races in which all bets are pooled and winners are paid according to size of pool and the number of other winners. Often shortened in US to mutuel.
Parlay: A single bet including two or more teams in which all teams must win or cover for the bettor to win and receive higher payouts.
Perfecta: In horse racing, a wager in which the player selects the two horses in a race to finish in 1st and 2nd places in exact order. 25 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
Pick'em Game: A game which neither team or betting option is the favorite. Also called a "pick".
Place: A horse racing wager in which a horse finishes first or second.
Pleasers: A pleaser is a group of NFL side straight bets combined into one bet.
Pointspread: A form of handicapping in which oddsmakers predict how many points one team needs against another in order to even out the public betting on a particular game.
Press: To bet or wager a larger amount than usual.
Price: The odds or pointspread.
Push: A pointspread that ties or combined scores of the two teams that tie the total.
Proposition Bet: A wager on a particular aspect of a game, such as how many touchdowns will be scored, etc.
Quinella: In horse racing, a wager in which the player selects the two horses in a race to finish in 1st and 2nd places in any order.
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Reverse: In horse racing, to ask for a second exacta wager which specifies two horses in reverse order of the first exacta wager.
Round Robin: A series of three or more teams in 2-team parlays.
Run Down: A line update. All the lines for a specific date, sport, time, etc.
Run Line: In baseball, a spread used instead of a moneyline. Usually set at 1½ either way.
Scratch: In horse racing, a horse that has been withdrawn from a race before the start. Wagers on this horse are voided.
Show: A horse racing bet in which you collect if the horse finishes first, second or third.
Sides: The names of the two teams playing: the underdog and the favorite.
Sided: When one side of a betting proposition wins and opposite side ties.
Single: A bet on a single result or outcome.
Single Action: An "if bet" that is processed only if the precedent bet wins. 27 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
Spread: An abbreviated form or another word for a point spread.
Square: Unsophisticated or unknowlegable gambler.
Straight Bet: A bet on one team or player.
Taking the points: Betting on the underdog and taking the advantage in the point spread.
Taking the price: Betting an underdog and accepting money odds.
Teaser: A bet on two or more teams where the line on each team is adjusted in the favor of the bettor by a fixed number of additional points. Like a parlay bet, all selections must be correct for the teaser to win.
Ticket: Any Wager.
Total: The combined number of points scored by both teams during a game, including overtime.
Totals Bet: A bet in which the bettor speculates that the total score of both teams will be more or less than the line posted.
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Trifecta: A horse racing bet in which a player selects three horses in one race to finish first, second and third in exact order.
Under: A bet in which the total points scored by two teams will be under a certain amount.
Underdog: The team perceived to likely end up losing. The team given points in a pointspread.
Value: Getting the best available odds on a betting proposition.
Vigorish: The commission paid to the sportsbooks.
Wager: Any bet.
Win: The term used to describe a 1st place finish.
Winning Margin: A bet to predict the winning margin of one team over another.
Wise Guy: A well-informed and knowledgeable handicapper or bettor.
With the Field: Having one horse linked with all the other horses in an event. It can apply to forecasts or in doubles. 29 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
Tic-tac Tic-tac (also tick-tack and non-hyphenated variants) is a traditional method of signs used by bookmakers to communicate the odds of certain horses. It is still used in oncourse betting in the UK. A tic-tac man will usually wear bright white gloves to allow their hand movements to be easily seen. A few simple examples of signals: * Odds of 9/4 ("top of the head") - both hands touching the top of the head. * Odds of 10/1 ("cockle" or "net") - fists together with the right-hand thumb protruding upwards, to resemble the number 10. * Odds of 33/1 ("double carpet") - arms crossed, hands flat against the chest. Within the UK there are some regional variations in the signals, for example in the south odds of 6/4 are represented by the hand touching the opposite ear, giving the slang term "ear'ole", whereas the same odds are indicated in the north by the hand touching the opposite elbow ("half arm") Some of the signals may be called out verbally too. These names have evolved over time in a mixture of Cockney rhyming slang and backslang. For example, 4-1 is known as rouf (four backwards). Essentially, bookmakers use tic-tac as a way of communicating between their staff and ensuring their odds are not vastly different from their competitors, an advantage the punters could otherwise exploit. In particular, if a very large bet is placed with one bookmaker, this may be signalled to the others as a way of lowering the price on all the boards. British racing pundit John McCririck uses tic-tac as part of his pieces to camera when explaining the odds of the horses for the next race. 30 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
This method of communication is used less frequently than before, due in part to the use of radio communication by betting companies.
odds
* Bottle - 2-1 * Burlington Bertie - 100-30 * Carpet - 3-1 * Century - 100-1 * Ching - 5-1 * Cockle - 10-1 * Double carpet - 33-1 * Double net - 20-1 * Double tops - 15-8 * Ear'ole - 6-4 * Elef - 11-1 * Elef a vier - 11-4 * Enin - 9-1 * Exes - 6-1 * Face - 5-2 * Handful or hand - 5-1 * Levels (you devils) - evens * Macaroni - 25-1 * Major Stevens - evens 31 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
* Net - 10-1 * Net and bice - 12/1 * Net and ex - 16/1 * Net and rouf -14/1 * Neves or nevis - 7-1 * Pony - 25-1 * Roof or rouf - 4-1 * Sais a wang - 6-5 * Scruffy and dirty - 100-30 * Shoulder - 7-4 * Neves to rouf - 7/4 * Shoulders or On the shoulders - 9-2 * Straight up - evens * TH - 8-1 * Tips - 11-10 * Top of the head - 9-4 * Up the arm - 11-8 * Wrist - 5-4 * Xis - 6-1
Other terms
* Beeswax - tax * Jolly - a favourite 32 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
* Kite - a cheque * Knock - not pay up when owing * Monkey - ÂŁ500 * Rock cake - a small bet
Types of bets Aside from simple wagers such as betting a friend that one's favorite baseball team will win its division or buying a football "square" for the Super Bowl, sports betting is commonly performed through a bookmaker or through various online Internet outlets. The many types of bets include: * Proposition bets are wagers made on a very specific outcome of a match. Examples include guessing the number of goals each team scores in a handball match, betting whether a player will score in a football game, or wagering that a baseball player on one team will accumulate more hits than another player on the opposing team. * Parlays involve multiple bets (usually up to 12) and will reward a successful bettor with a large payout. For example, a bettor could include four different wagers in a four-team parlay, whereby he is wagering that all four bets will win. If any of the four bets fails to cover, the bettor loses the parlay, but if all four bets win, the bettor receives a substantially higher payout (usually 10-1 in the case of a four-teamer) than if he made the four wagers separately. * Progressive parlays. A progressive parlay involves multiple bets (usually up to 12) and rewards successful bettors with a large payout, though not as large as normal 33 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
parlays. However in a progressive parlay, unlike a regular parlay, a reduced payout will still be made even should some of the bets lose. * Teasers. A teaser allows the bettor to combine his bets on two or more different games. The bettor can adjust the point spreads for the two games, but realizes a lower return on the bets in the event of a win. * If bets. An if bet consists of at least two straight bets joined together by an if clause which determines the wager process. If the player’s first selection complies with the condition (clause), then the second selection will have action; if the second selection complies with the condition, then the third selection will have action and so on. * Run line, puck line or goal line bets. These are wagers offered as alternatives to straight-up/moneyline prices in baseball, hockey or soccer, respectively. These bets feature a fixed point spread that (usually) offers a higher payout for the favorite and a lower payout for the underdog (both in comparison to the moneyline). * Future wagers. While all sports wagers are by definition on future events, bets listed as "futures" generally have a long-term horizon measured in weeks or months; for example, a bet that a certain NFL team will win the Super Bowl for the upcoming season. Such a bet must be made before the season starts in September, and winning bets will not pay off until the conclusion of the Super Bowl in January or February (although many of the losing bets will be clear well before then and can be closed out by the book). Odds for such a bet generally are expressed in a ratio of units paid to unit wagered. The team wagered upon might be 50-1 to win the Super Bowl, which means that the bet will pay 50 times the amount wagered if the team does so. 34 SAMPLE FOR FURTHER REPRODUCTION OR DISTRIBUTION 2011. www.bettingsystemprofessional.com
* Head-to-Head. In these bets, bettor predicts competitors results against each other and not on the overall result of the event. One example are Formula One races, where you bet on two or three drivers and their placement among the others. Sometimes you can also bet a “tie�, in which one or both drivers either have the same time, drop out, or get disqualified. * Totalizators. In totalizators (sometimes called flexible-rate bets) the odds are changing in real-time according to the share of total exchange each of the possible outcomes have received taking into account the return rate of the bookmaker offering the bet. For example: If the bookmakers return percentage is 90%, 90% of the amount placed on the winning result will be given back to bettors and 10% goes to the bookmaker. Naturally the more money bet on a certain result, the smaller the odds on that outcome become. This is similar to parimutuel wagering in horse racing and dog racing.
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