Term

Definition

Action

A bet

BM

Bookmaker

BR

Bankroll

Back door

A 'cover' that occurs in the waning moments of a game

Bad beat

Losing under unusual circumstances

Beard

A runner; one who places a bet for another

Beef

A dispute over the outcome of a bet

Bow-wow

An underdog

Chalk

A favorite

Circled game

A contest on which betting limits are reduced (injuries and weather are the primary reasons for games to be circled)

Cover

A pointspread win

Degenerate

A compulsive gambler

Dime

$1,000

Dollar

$100

Earn

Percentage hold

Exotic

Any wager other than a straight bet or parlay (also referred to as a proposition or prop)

Exposure

The maximum amount of money a sports book stands to lose on a game

Figure

Amount owed to or by a bookmaker

Form

A tabloid used for horse racing data

Getting down

Placing a bet

Handicapper

A person who studies factors such as statistics, injuries, weather and news to predict the outcome of games

Handle

Total amount of money wagered

Hedge

To reduce amount of action by wagering on the opposite side of a previous bet

Hook

A half-point

Juice

Amount of commission kept by the house (also referred to as vigorish or vig)

Laying a price

Playing a favorite

Layoff

Money bet by a house with another bookmaker to reduce its liability

Limit

Maximum amount of money accepted for one wager

Line

The odds on a game (also referred to as price)

Lock

A surefire winner (there really is no such proposition)

Matador

A cover that occurs in the waning moments of a game (also referred to as a back door cover)

Middle

Betting both sides of a game at different prices with the hope of winning both wagers (An example: if a bettor played Maryland (minus-4) and Duke (plus-6), and Maryland won, 100-95, he would win both bets -- or "catch a middle")

Mush

A bettor who is bad luck

Nickel

$500

Off the board

A game on which bookmakers are not accepting wagers (generally because of injuries)

Overlay

A situation in which the odds on a game favor the bettors rather than the house

Parlay

One bet ticket written with at least two wagers (all must win for the ticket to cash)

Past post

To place a wager after an event has started

Pick'em

A game with no favorite (the straight-up winner also would win bets)

Price

The odds on a game

Puppy

The underdog

Push

A tie

Round robin

A single ticket with comprised of more than one parlay

Rundown

A list of odds on a particular day's games

Runner

One who places bets for another

Scalper

Someone who bets both sides of a game

Score

A big win

Sharp

A sophisticated or professional sports bettor

Square

A novice sports bettor

Steam

Heavy action on one side of a game

Straight bet

One wager (as opposed to a parlay)

Sucker bet

Parlays, teasers or exotics (anything bookmakers use to entice squares to bet more)

Taking a price

Betting an underdog

Tapped out

Broke from gambling

Teaser

A sucker wager that allows bettors to add and subtract points from posted odds

Tout service

A company that sells selections on games (most in the United States are dishonest)

Underlay

A situation in which the odds on a game favor the house rather than bettors

Value

An overlay

Vigorish

Amount of commission kept by the house (also referred to as juice or vig)

Wise guy

A professional sports bettor