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BETTING 101

ATS - against the spread
10 Cent Line - The moneyline difference (10 cents) between what a bettor would lay with the favorite or take back with the underdog
20 Cent Line - The moneyline difference (20 cents) between what a bettor would lay with the favorite or take back with the underdog
Beard - Messenger bettor
Buck - $100
Chalk - Favorite
Circled Game - Game where action is limited due to uncertainties about weather, injuries, etc.
Cover - Win by more than the pointspread
Dime - $1000
Dime Line - Slang used to designate the 10 cent money line.
Dog - Underdog
Dollar - $100
Edge - Advantage
Even Money - A wager on which neither side lays any odds or vigorish
Exotic Bet - Action other than a straight bet or parlay
Exposure - The amount of money one actually stands to lose on a game or race
Firing - Betting a lot. A player who is " firing" is wagering large sums.
Futures - Wagers made, or lines/odds posted on an event or outcome taking place in the future. For example, betting on who will be next year's World Series champs.
Grand Salami - A slang word for the over/under total for the combined score of all the hockey contests on the schedule for that day
Halftime Line - A line on only the first half, or only the second half scoring of a football or basketball game
Hedge - Bet the opposite of your original wager in order to reduce the amount of exposure you have on a game
Hook - Half point in pointspreads
Juice - Bookmaker's commission, most often refers to the 11 to 10 football bettors lay on straight wagers. Also known as vigorish.
Laying Points - A wager on a favorite in a pointspread contest
Line - Moneyline, odds, or pointspread
Middle - To win both sides of a game. For example, if you bet the underdog +3 1/2 and the favorite -2 1/2 and the favorite wins by 3, you've middled the book. The book has been middled.
Moneyline - The amount you must bet to win 100 or the amount you win if you bet 100
Nickel - $500
Off The Board - Game where no bets are being accepted
Over/Under - A bet on whether the combined total of the points/goals scored by the two teams will exceed or be less than a specified number
Overlay - When the odds on a proposition are in favor of the bettor rather than the house
Parlay - A bet with two or more teams where all the teams must win for the bettor to be successful
Pick or Pick'em - A game where neither team is favored
Pointspread - The handicap, or head start, which the favorite gives to the underdog for betting purposes
Press - To bet a larger amount than usual
Push - A tie between the bettor and the bookmaker that is the result of the score of an event falling exactly on the pointspread number
Round Robin - A series of parlays. A three-team round robin consists of one three-team parlay and three two-team parlays
SU - Straight up win, winner of a contest regardless of spread
Score - To win a lot of money
Scratch - Withdraw; cancel
Sharp - Wise guy, seasoned, successful bettor
Side Bet/Side Wager - A wager on a particular team, or side, to win a contest
Soft Line - A wagering line that is not current with the true posted line. A line that has been adjusted or moved as a result of action and does not reflect the true line as posted.
Spread - An abbreviated form of pointspread
Steam - When a betting line starts to move quite rapidly because many bettors are playing on one side of the game
Straight Bet - A single wager on a selected side or over/under
Take The Points - A wager on the underdog in a pointspread contest
Teaser - A bet on 2 or more teams where the line on each team is adjusted in the favor of the bettor. Like a Parlay, all selections must be correct for the teaser to win
Total - The line on a given contest, representing the combined number of points/goals scored by the two teams
Underlay - When the odds on a proposition are in favor of the house
Value - An overlay
Vigorish - Bookmaker's commission, most often refers to the 11 to 10 football bettors lay on straight wagers. Also known as juice.
Wise Guy - Established and successful sports bettor

Types of Betting

Straight Bets

The team that is wagered on must win by the point spread given at the time of the wager. For straight wagers, the odds are $1.10 to win $1.00. Games that tie are considered a push and money is re-deposited back into your account. The point spread may fluctuate at any time.

Example: A bettor wagers $110.00 on Chicago -3 to beat Detroit. If Chicago wins by more than 3, the player wins $100.00, meaning the total payout, including the initial bet, is $210.00. If Chicago only wins by 3 points, then the game is considered a push and all money is returned to the bettor. If  Chicago wins by less than 3 points or lose outright, the wager is lost.

Totals O/U

Betting whether the combined score of both teams will be over or under a given " total." All totals lay $1.10 to win $1.00 unless it is otherwise indicated.

Example: The player lays $110.00 on the UNDER in the same Chicago-Detroit game mentioned above. If the total for the game is 40 and the score is 27-20 (47 total), the bettor pockets $100 plus the original $110 wager. If the score is 20-19 or any other figure UNDER the total of 40, the bet is lost. A 20-20 final is a push and the bet is refunded.

Money Line Wagers

Moneyline wagering is simply betting on the contest based on a given price rather than a pointspread. The team wagered on simply has to win the game. Money line is more common for betting hockey and baseball. In hockey, there is also a Puck Line, which is simply wagering on the contest based on a pointspread and a moneyline combined. The team wagered on must win by the pointspread.

Example: A Posted Money Line on a hockey game might read: Pittsburgh -155 at Boston Bruins +135

A bettor has two choices: Bet the Penguins -155 and if they win, the bettor wagered $155 to win $100. Bet the Bruins and if they win, the bettor pockets $135 for betting $100.

Or for a puck line, you might see Pittsburgh -1.5 +130 at Boston Bruins +1.5 -150

A bettor has two choices here as well. Betting the Penguins would mean that if the Penguins win by 2 goals or more, you win $130 (+130) on a $100 wager. Conversely, playing on the Bruins and they either win or lose by just one goal, bettor would pocket $100 for betting $150 (-150).

Parlays (aka multiples or combos)

This is a bet of 2 or more teams, but all teams wagered on in a parlay must win. Canadian sports lotteries such as Sport Select's Pro-Line is an example of a parlay. If there is a tie or a push among the selections, then the parlay bet reverts down to the next lowest number for payoff. In the case of a 2-team parlay, if one game is a push, the bet becomes a straight one-team wager. You may not play a parlay where games are connected. You would not be permitted, for example to play a first-half score OVER with the full-score OVER because one id connected to the other.

Teasers

A Teaser is a bet of two or more teams in one wager where the point spread is adjusted in your favor. The number of teams selected and the number of points selected dictates your payout odds.

Futures

Wagering in mid-season on who will win the league championship is a futures bet. There are typically preseason odds for individual teams and the likelihood they will win their division or conference.

Props (aka Exotics)

Propositions or exotic bets typically involve specific events within a game. For example, betting on the number of points a basketball player will score in a game or picking the scorer of the first goal or touchdown are props. These are also referred to as 'prop' bets.