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Dictionary of gambling terms
MIDDLE- Playing both sides of the same game at different lines that allows the player to win both the wagers.
MLB- Major League Baseball
MONEY-LINE- A weighted amount of money is used to make both contestants attractive. The line might be -200 on the favorite and +180 on the underdog. Meaning the bettor must put up $200 to win $100 on the favorite or wager $100 to win $180 on the underdog.
MVP- Most Valuable Player
NASCAR- National Association for Stock Car Auto Racing
NBA- National Basketball Association
NCAA- National Collegiate Athletic Association
NFL- National Football League
NHL- National Hockey League
NICKEL- $500
NON-RUNNER- Contestant that did not start or was exempt from wagering.
ODDS- The price of what a contestant is paying.
ODDSMAKER- Same as Linemaker.
ODDS AGAINST- The amount you win is greater than the amount risk.
ODDS ON- Amount you win is less than the amount you risk. Slang for "the favorite". A term usually associated with horse racing.
OFF THE BOARD- A game on which the bookmaker does not except action.
OVER/UNDER- A wager on the number of points, goals, runs etc. for both teams combined. The bettor is wagering on whether this total will go over or under this number. Also used in boxing, over or under number of rounds.
PARLAY- A single wager on two or more outcomes.
PARLAY CARDS- A paper or cardboard card listing a large menu of games in which to wager on. Bettor must choose at least 3 events and all selections must cover the pointspread.
PAYOUT- The total winnings plus the original wager.
PERCENTAGES- Bookmakers set their odds according to the mathematical probabilities of a future outcome happening.
PGA- Professional Golfers Association
PICK OR PICK'EM- A contest where neither side is favored.
PLAYER- The bettor.
PLEASER- A wager where multiple choices are made but the point-spread is re-adjusted against the bettor. To compensate for the less favorable lines, higher odds are offered. A pleaser is the opposite of a teaser.
POINT SPREAD- Also called spread, line or odds. The handicap that the favorite gives to the underdog for wagering purposes.
PRESS- To wager more than normal.
PRICE- Another term for odds, line or spread.
PROPS/PROPOSITIONS- A creative wager other than a side, total or run-line.
PUCKLINE- Used in hockey, the use of pucks to set odds. An alternative to money-lines.
PUNTER- The Australian and British term for a bettor.
PUSH- A tie; usually all wagers are returned to the player. Sometimes a push is counted as a loss, mainly in teasers.
ROUND ROBIN- All possible combination's of parlays with the chosen teams (from 3 to 6 teams).
RUN-LINE- A line used in wagering on baseball. One team is handicapped by having to win by 2 runs or more.
SMART MONEY- Wagers made by knowledgeable handicappers.
SPREAD- An abbreviated term for point spread.
SPREAD WAGERING- Also known as action points. In spread betting you win or loose according to how right or wrong your prediction of the outcome of the game will be.
STAKE- The amount of a wager.
STRAIGHT BET OR WAGER- A wager on just one team or horse.
TAKING- Taking the odds or points.
TEASER- A wager involving two or more teams where the point spread is adjusted in the bettors favor. The opposite of a pleaser.
TOTALS- The total combination of points, runs or goals scored in a game. Also the number of rounds a fight goes.
TOUT- Someone who gives an opinion on the outcome of a game or race and is usually looking for some compensation for his opinion. Most touts today don't even have an opinion. They are just selling hot air.
UNDERDOG- A contestant whose odds suggest a low chance of winning.
VALUE- Getting odds higher than the true chance of it winning.
VIG- Juice or commission
WISEGUY- Over used term to describe a knowledgeable bettor. Today, anyone who cashes a ticket is accused of being a wiseguy.
WNBA- Womens National Basketball Association.
WOOD- Laying the points or laying the wood; wagering on the favorite.
