Betting Terms

Sports Betting

AL – American League ( Major League Baseball )

Bigs – Sland for the “Big Leagues,” the major leagues, used primarily in baseball

Bookie, Bookmaker – The individual or business that sets the line and books the bes in sports, whether legal or illegal

Chalk – In the United States, the term is often used during the NCAA Basketball Tournament, when many casual fans project brackets in competitions.  It refers to the favorite. ( The origin of the term stems from hosrse racing.  At the track or at the off-track betting parlor, all of the horses for a race would be listed in order of expected finish, with the odds of that finish, on a blackboard.  As the odds changed and the favorite horse changed, the bookie would erase the name and put a new one in.  Therefore the favorite was always in chalk.

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 CreaseSee Distortion

DistortionAlso Crease. A sitaution where overwhelming fan support for one of the contestants creates an unbalanced line favorable for the astute bettor.

Favorite – The team favored to win the game.

Home Team Advantage – The advantage a team inherently enjoys by playing before its fans on its own field.

Hoops -Slang for basketball

Laying Money- Betting more money than one hopes to win back

Laying Points – A situation where favorite bettors must give the underdog extra points in a game to equalize the contest.

Line – The points or odds set by teh bookie which determine the conditions under which a bet is placed.

Money Line – The line in baseball and boxing where favorite bettors lay money, that is, bet more than they hope to win, while underdog bettors, take odds, win more than the amount they wager.

NBA – National Basketball Association

NFL – National Football League

NL – National League ( Major League Baseball )

Over-Under – These bets are wagers that a a team will score either more, “over,” or less “under,’ than the points listed.

Parlay – A bet combinging two or more teams together in which all the teams in the parlay must win for the bet to win.

PointspreadAlso ‘spread.’  The line used for football and basketball where favorite bettors give (lay) points and underdog bettors take points.

Sided – When a lot more money gets bet on one side of a contest, the bookie is said t obe sided.

Spread – See ‘Pointspread’

Straight-Up – Betting a game without take or giving points

Taking Odds – A Wager on the underdog where a winning bet pays more than originally wagered.

Taking Points – A situation where underdog bettors receive extra oints in a game to equalize the contest

Teaser – A wager which teies two or more games together in a bet by giving bettors incentives in the way of extra points or better odds.  All games “teased” must be won for the teaser bet to win.

Vig, Vigorish – The bookmakers commission on sports bets.

This glossary will be updated daily and includes various terms defined by gambling experts appearing on the sports talk radio program  Additionally, some terms have been defined in various gambling dictionaries and periodicals that can be found at The Gambler’s Bookstore in Las Vegas.