Bet - To lay money on the correct prediction of an outcome. Also to lay, gamble
and wager.
Bookmaker - The person who takes your bet.
Cent line - The cent line is the US system of prices. The type of cent line used
determines the difference in price between the favourite and the underdog, and
also determines the incremental difference between one line move and the next.
Circled Game - Applies to US sports. A game where the betting activity is limited
by the bookmaker; this usually happens where bad weather or injury may
significanlty alter the chances of either team winning, thereby making the
outcome far more uncertain.
Dead Heat - Applies to Tournament-type bets, Three Balls (golf) and Top Batsman
(cricket); where two or more competitors both qualify for an equal place.
Dog
- Abbreviation of Underdog
Favourite - The team or player considered by the oddsmaker to have more chance of
winning than their opponents.
Fixed-odds sports - Applies to US sports, namely NFL, College Football, NBA and
College Basketball, where the price for the Side rarely moves from -1.10.
Gamble
- See bet. Also wager and lay.
Gross Win - Your total payout, i.e. including your stake.
Handicap - A term usually associated with International sports. The handicap is
the advantage given to the underdog, and the disadvantage given to the
favourite, in order to even up the possible outcome of the event and give the
bet more value. Known as the Spread in US sports.
Lay To
- stake money on an outcome; to bet, wager or gamble.
Line - The odds, or the price. The figure by which you multiply your stake to
calculate your winnings.
Net Win - The profit on your payout, i.e. excluding your stake.
Non fixed-odds sports - Applies to US sports, namely Major League Baseball and Ice
Hockey, where the price for the Side is not fixed at -1.10 (see Fixed-odds
sports).
Odds - Also the line, or the price. The figure by which you multiply your stake to
calculate your potential winnings.
Oddsmaker - The person who establishes the odds.
Outright
- The price to come first in a Tournament, as opposed to winning a place.
Payoff - The winnings on your bet
Payout
- The winnings on your bet
Place - Applies to Tournament-type bets only, where a set number of valid places
are declared by the bookmaker (e.g. first, second and third), and your place bet
will win if your selection comes within this range.
Pointspread - Applies to US sports. The pointspread is the advantage given to the
underdog, and the disadvantage attached to the favourite, in order to even up
the outcome of the event and give the bet more value. See also Spread and
Handicap.
Price - The odds or the line.
Push - A tie or a draw. There is no winner, therefore all bets become void and the
stakes are returned.
Range - Applies to Tournament-type bets only. The number of places declared valid
for betting purposes.
Return - Your winnings, including your stake.
Rule 4 - Applies to Tournament-type bets only. A ruling which may be applied at
the bookmaker's discretion, when a competitor withdraws from an event thereby
altering the other competitors' chances of winning.
Split
- Applies to Tournament-type bets only. The figure by which the outright
odds are multiplied in order to calculate the payout for a place.
Spread - See Pointspread.
Starting pitchers - Applies to baseball. The pitchers that are declared to be
opening the game for either team. If one or both pitchers are changed, the bets
attached to them may be voided or the recalculated.
Stake
- The amount of money wagered.
Tournament - A competition / championship where a number of competitors all aim to
take first place.
Underdog - The team or player considered by the oddsmaker to have less chance of
winning than their opponents.
Value - Good odds / a good price.
Wager - To bet, lay or gamble.
Winnings - The money you win (your profit) if your bet is successful.
|
