With internet betting catching up at full speed, this sports betting glossary will prove to be useful for new bettors. With very simple and easy to understand terminology, this core glossary is sure to give a general knowledge of betting jargon. Go Ahead, Read on!
Ante Post Also known as future bets, these wagers are made even before the day the event takes off. With no chances for stakes to be returned, risky for punters if their choice pulls out or gets cancelled.
Beef A disagreement regarding a bets outcome. Usually a dispute arising from conflicting demands between a player and his bookmaker or a casino dealer.
Combination Bet A bet on any number of selected teams/horses to finish first and second in either order.
Canadian A type of combination bet with 5 selections instead of 4. Made up of 10 doubles, 10 trebles, five 4-folds and one 5-fold. Popularly also known as Super Yankee.
Deposit Betting - Betting in which money is deposited in advance with a bookmaker.
Dog Player - A bettor who mainly bets on the team that is most likely to lose.
Even Money A bet whose odds are 1:1, without any juice. Betting $10 would win $10. So if $10 is staked, the return would be $20 ($10 win plus $10 staked).
Flea A bettor who expects to rake in big returns for a petty amount, wanting something for nothing. Very annoying!
Goliath - With a total of 247 bets, this is a multiple bet involving 8 selections in different events. The breakdown is 28 doubles, 56 trebles, 70x4-folds, 56x5-folds, 28x6-folds, 8x7-folds and one 8-fold.
Home Field Advantage Advantage enjoyed by the home team due to familiarity with the playing area, favorable demographics and effect of travel on the visiting teams.
IBF Short for International Boxing Federation.
Juice - The amount earned by the bookmaker as commission. Also known as Vigorish or Vig.
Kite Slang used for cheque in UK.
Layoff Bet made by one bookmaker with another in order to help balance the excess action he has accepted from his customers.
Money Line - The amount that is required to be wagered to win $100. Typically, more money is risked to wager on a strong team, less money is risked on the weaker team.
Nickel Referring to the size of a bet, a nickel is a $500 wager.
Odds The likely chances of a competitor winning in the view of the bookmaker.
Over/Under A bet on whether the combined scores or points of two teams will be over or under a specified number.
Permutations - Refers to combination of selections. For example, if 3 selections (A, B and C) are made, all the possible doubles can be combined, i.e. AB, AC, and BC; a total of 3 individual bets, or lines. Similarly for 4 selections (A, B, C and D) possible doubles would be AB, AC, AD, BC, BD, CD totaling to 6 individual bets.
Punter Slang for Bettor. Return- The total winnings from a bet.
Steam When a betting line starts moving rapidly, because of many bettors betting on it.
System - A method of betting used by a punter to try to get an advantage. Usually influenced by past games where similar conditions delivered winning results.
Trebles A type of multiple bet which places a triple bet on three events.
Underdog - The team that is expected to lose.
Value - Getting the best odds or the highest edge or advantage on a wager.
Welsh/Welch Failure to pay a gambling bet. Wise Guy - A successful and well-informed bettor who wins due to his knowledge rather than just by chance.
Yankee A combination bet of four selections. It consists of eleven bets combined by six doubles, four trebles and one fourfold.