Betting Glossary
(Horse
Racing Glossary here)
Bet : To stake money on an
accurate forecast of an event or outcome. Also
referred to as lay, punt, gamble or wager.
Bookmaker : The company or person
accepting a players' bet (bookie)
Cent line : represents the United States system of showing prices. The type of
"cent line" used calculates the pricing variance between the favorite and the underdog, and
also the incremental difference between a line move and the next line
move.
Circled Game : Applies to American
sports where the betting activity is
capped
by the bookie; which usually happens when bad weather or injury could change or
affect the chances of either team winning,
and as a result make the outcome of a game more uncertain.
Dead Heat : Applies to Tournament style bets, Golfing
3 Balls and Cricket
top batsman
- where 2 or more players qualify for an equal place.
Dog : Abbreviation or shortening
for Underdog, the team or player that is most likely to lose or come 2nd / 3rd
or last!
Favourite : The team or player considered by the sport book to have
the best
chance of winning.
Fixed-odds sports : Applies to American sports, including
NFL, College Football, NBA and
College Basketball - where the price for the Side bet hardly ever moves from -1.10.
Gross Win : The bet payout including the
punters' stake.
Handicap : Usually applies to International
sports, and represents the advantage given to the underdog, and the disadvantage
placed on the
favorite, to even out the betting activity on the event and
offer more value on the bet. Known as the Spread in US sports.
Line : The odds or price, or the number by which
a punter will multiply his stake to
calculate his winnings.
Net Win : The profit on a punters' payout, which excludes
his stake.
Non fixed-odds sports : Applies to US sports,
(Major League
Baseball and Ice Hockey), where the price for the Side is not fixed at -1.10.
Odds : The line or price for a bet.
Oddsmaker : The entity - company or
person, who determines the odds (bookie).
Outright : The price to come 1st in a league or tournament,
as opposed to winning a place.
Payoff : The profit on a punters' bet
Payout : The total winnings on a
punters' bet
Place : Applies to Tournament-style bets only, where a
certain number of places
are declared by the bookie (i.e: 1st or 2nd) and the punters' place bet
will win if his selection came within the range of places declared.
Pointspread : Applies to US sports
but is identical to "handicap". It is the advantage given to the
underdog, and the disadvantage placed on the favourite, so as to even out the outcome of the event and give the bet more value.
(also known as spread)
Price : The odds or line.
Push : A tie or draw. Stakes are
refunded to punters.
Range : Applies to Tournament style
bets, where the number of places that are valid
for betting purposes is defined.
Return : A punters winnings and stake.
Rule 4 : Applies to Tournament style bets
only - A ruling which can be applied at
the bookies discretion, when a competitor withdraws from an event or race that
then changes the other competitors' chances of winning.
Split : Applies to Tournament style bets. The figure by which the outright
odds are multiplied, so that the payout for a place can be calculated.
Starting pitchers : W.r.t
Baseball. The pitchers named to be opening the game for their teams - if 1 or both pitchers are changed, the bets
attached to them may be voided and refunded
Stake : The amount of money bet.
Tournament : A competition or championship
game where a number of players or competitors compete for 1st place.
Underdog : The team or player considered by the
bookie to have less (or the least) chance of
winning.
Value : Good odds or a good price for a
bet.
Winnings : The money won or profit from
a bet.
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