Gambling Jargon Explained: A Guide to Common Betting Phrases
Rewritten Article:
Title: Decoding Betting Lingo: A Simplified Guide to Sports Betting Terms 🎲
By Alex Windsor and Brian Webb January 14, 2025
We all have our own lingo when it comes to betting with our pals. But here are some essential sports betting terms you should be acquainted with. This handy guide breaks each term down, explains its significance, and provides examples to help you grasp sports betting like a pro.
🔹 Betting Terms for Sports Enthusiasts
Chalk: The hot favorite in a game, or the team that's expected to win overwhelmingly. For instance, the New England Patriots could be considered "chalk" if they're facing a weaker opponent.
Closing Line Value (CLV): This term refers to the value of a bet placed at the final odds set by the bookmaker before the game commences. By understanding the CLV, bettors can evaluate the effectiveness of their bets. A good example is if a bet is placed on a team at -3, but the closing line is -2.5, the bettor has positive CLV because they secured a better line.
Draw No Bet: In this bet, you receive your wager back if the game ends in a draw. You only experience a loss if the opponent you wagered against emerges victorious. As an example, let's consider betting on Manchester United. If the game ends as a draw, you get your money back.
Expected Value (EV): This is the expected average amount a bet is expected to win or lose over multiple wagers. The EV helps bettors pinpoint whether a wager offers good value or not. If a bet carries positive EV, it's almost certainly a smart play.
Fade: It means to bet against a team, usually based on the perception that the team is overhyped by the public. For instance, fading a widely popular team like the Yankees in baseball if they face a strong pitcher.
Favorite: It denotes the team expected to win, often shown with a negative money line or point spread. For example, in a basketball game, the LA Lakers could be favorites against the Chicago Bulls.
Half-Time/Full-Time Betting (HT/FT): This refers to betting on the outcome of a game at half-time and full-time, including wagering on a team that's leading at half-time but ultimately loses the game. An instance would be wagering that Team A will lead at halftime but lose at full-time.
Handicap: In simple terms, a handicap is a tool provided by bookmakers to even the odds, by giving a points advantage or disadvantage to one team. For example, imagine Team A is a favorite in rugby and must therefore win by more than 7 points for your bet to win with a handicap.
Hedging: It's placing a bet on the opposite side of an existing wager with the intent of reducing risk or guaranteeing a profit. To explain, betting on Team A to win and then hedging with a bet on Team B can help minimize potential losses.
Juice: More commonly known as the "vig," juice is the commission a bookmaker keeps for accepting a bet. As an example, if a bettor wagers $100 on a team at -110, they'll need to win $110 to net a profit of $10, of which $10 goes to the bookie as juice.
Matched Betting: A strategy that involves placing a bet on an event and then laying off the same bet on a betting exchange to ensure a profit, typically using free bets. An example of matched betting is using a free bet to place a wager on a team to win and then laying the same bet on a betting exchange to secure a profit.
Match Odds: It's the odds presented by a bookmaker for a particular game or match, often displayed as money lines, point spreads, or over/unders. For example, in a football game, you'll see match odds in terms of moneylines, point spreads, and over/unders.
Playthrough Requirements: These are conditions that bettors must meet before they can withdraw bonus or promotion winnings. As an example, a bonus might demand wagers worth a certain amount within a specific timeframe before the bettor can cash out any winnings.
Push: When a wager produces a tie, and the bettor's investment is returned. For instance, placing a bet on over 6 points and the total amount is precisely 6 points would result in a push.
Puck Line: A particular type of point spread used in hockey with a 1.5-goal advantage given to the favorite team. To give an example, betting on the Toronto Maple Leafs to win by more than 1.5 goals.
Reuse Selections: Although not a recognized term in sports betting, it could refer to repetitively using the same bet selections multiple times. For example, repeatedly using the same parlay picks in numerous bets.
Settled Bets: Bets where the result has been determined and paid out. An example would be a concluded game where the winner and the final score are known.
Shaded Lines: This term denotes slightly unfavorable odds offered by a bookmaker to accommodate for the commission. As a case in point, a bookmaker might offer odds of -120 instead of -110 offered by other bookmakers.
Spread Alternate: An alternate point spread offering various odds and payouts than the standard point spread. As an illustration, betting on a team to win by more than 7 points rather than the regular 3 points.
Tailing: Following a bettor's wagers, often based on their expertise or success. An example would be tailing a famous handicapper's picks by imitating the same games they advise.
Trap Game: A game that appears easy for a team but might end up being challenging due to underestimating the opposition. A prime example is a top-ranked team facing a weaker opponent before a major game, potentially landing in a trap game scenario.
Underdog: It's the underestimated team expected to lose, displayed with a positive money line or point spread. As an example, in a boxing match, a challenger may be deemed the underdog against the reigning champion.
Units: A quantitative measure of the amount bet, used to track performance and risk management. For instance, a bettor might stake 2 units on a game, where each unit represents a specific sum of money.
Void Bet: A wager that is called off and the stake returned, usually because the event doesn't materialize due to unforeseen circumstances like a postponed game. To give an example, a bet on a game that gets postponed due to adverse weather conditions might be voided.
Winning Margin: This term refers to betting on the exact margin by which a team will win a game. For example, voting for a football team to win by more than 10 points.
If you find yourself baffled by any betting terms or demand more instances and explanations, feel free to contact us @our website on Twitter for more information.
Alex Windsor, with 10 years of experience in the iGaming industry and Managing Editor at our website, is an expert in sports betting and betting tools. His professional knowledge, combined with a passion for football, assists him in ensuring you have access to a reliable and helpful resource, focusing on betting tools to aid odds, accas, and other betting strategies.
- Understanding 'betting strategies' involves learning useful techniques to improve your success in sports-betting, such as 'matched betting' and 'hedging' that help ensure profits and manage risk.
- The 'terms' in casino-games and sports-betting can sometimes be complicated, but key terms like 'favorite', 'underdog', and 'point spread' provide a staple foundation.
- Some requirements for sports-betting include being aware of betting requirements and playthrough conditions, as well as meeting them to withdraw bonus or promotion winnings.
- In the vast landscape of casino-and-gambling, it's essential to familiarize oneself with various 'gaming strategies' and understanding terms such as 'puck line', 'settled bets', and 'void bets'.
- A knowledgeable sports bettor is well-versed in 'betting lingo', including terms like 'closing line value', 'expected value', and '½-Time/Full-Time Betting', which help refine betting strategies and find better opportunities.
