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All-in:
with all-in betting there are no refunds given for scratched or withdrawn
competitors or teams in an event where a bet is placed. Should an event be
cancelled then the amount bet will be refunded.
All up:
This involves picking the winners of more than one event. A single wager
amount is placed on more than one outcome, whereby the stake and winnings
of the first selection will be rolled over into the second selection
and so on.
Book:
see SPORTSBOOK.
Bookmaker
(Bookie):
Person who is licensed to accept bets on the result of an event based on
their provision of odds to the customer.
Dividend:
means the agreed payout or return on any bet.
Draw:
Where competitors in an event finish evenly. Where there is a draw and
this is not offered as a betting option, the return will be divided by the
number of joint winners. Note that some sports have processes such as
extra-time or play-offs to determine an event winner that are included as
part of the bet where others are not. This may affect some bets and you
should always be sure how an event would be decided in this instance.
Double:
Select the teams or players you believe will win two separate specified
events or two parts of the same event, e.g.: Winners of a rugby and league
game, or the half and full time leaders in the same game. All bets are
placed prior to the first event.
Even Money:
Odds when you will double your money. E.g. for a $1 stake the dividend
would be $2.
Favorite:
The competitor seen as having the greatest chance of winning. Typically it
has the most money bet on it.
Field:
All the individual competitors in an event.
Fixed Odds:
Your dividend is fixed at the odds when you placed your bet. No matter how
much the odds fluctuate the odds at the time you bet are fixed. Your
dividend for winning is paid at the value stated on your ticket, no matter
what happens after you have placed your bet.
Futures:
Fixed Odds betting which is taken well in advance of the event.
Head to Head:
Select the team, or player, you believe will win the game or an event.
In the Red:
See ODDS ON
Juice:
This is a slang term meaning the commission that you must pay if you bet
against the spread. You must have a winning average of over 52.38% in
order to come out ahead.
Line Betting:
See POINTS START.
Long Odds:
Generally greater then $11 (or 10/1)
Long Shot:
A competitor at long odds not given as high a chance of winning as other
competitors.
Margin:
The amount a competitor in an event finishes in front of another
competitor.
Money line bet:
The difference
between a pointspread bet and a moneyline bet is that there are no points
involved. Instead, money odds are wagered on the favorite or underdog.
There is a different moneyline total for either side on a money line bet,
a negative side (the favorite) and a positive side (the underdog): Dallas
-170 Washington +150 What this means is that Dallas is the favorite
and for every $17 you bet on Dallas, you win $10 if they win. For every
$10 you bet on Washington, the underdog, you win $15 if they win. By
offering different odds for each team the sportsbook is able to balance
action on both teams.
Multiples:
This involves picking the winners of more than one event. A single wager
amount is placed on more than one outcome, whereby the stake and winnings
of the first selection will be rolled over onto the second selection and
so on. See DOUBLE, TREBLE, and PICK 4.
Odds:
Chances of winning expressed in dollar (monetary) terms. Dividends
displayed in dollar terms are inclusive of the unit of outlay. Odds can
also be expressed in fractional terms showing the ratio of Win to Stake.
Example: The New Zealand All Blacks to win the Rugby World Cup shows a
dividend of $5. In fractional terms they would be quoted at 4/1 - for a
stake (bet) of 1 unit you win 4 units for a total return of 5 units.
Odds Against:
The odds when you will win more than double your money. E.g. for a $1
stake the dividend would be anything more than $2.
Odds Assessor:
See Bookmaker
Odds-On:
The odds when you will win less than double your money. E.g. for a $1
stake the dividend would be anything less than $2. Also known as odds
being "in the red".
Parlay:
A parlay
bet is a single wager involving multiple propositions. The bettor must
chose the winner of each proposition in order to win the parlay (point
spreads are applicable). Payout odds increase as the number of included
propositions increases.
Placegetter:
Typically the competitors
finishing first, second and third in an event. In some events the number
of places paid may vary.
Points Start:
Betting is a handicap system
whereby the punter concedes or receives a start designed to make an event
a more even betting proposition. Also known as LINE BETTING.
Proposition/future bet:
A proposition bet is a bet offered with conditions and odds
determined by an oddsmaker. These bets are usually exotic bets like which
quarterback will complete the most touchdown passes, which team will score
the last points in a game, or which will complete the longest fieldgoal.
Many prop bets are offered at 11-10 odds, but some will be offered at
better or worse odds, depending on the bet.
Return:
Your total winnings on a bet
Roughie:
see LONG SHOT
Side/Straight Bet:
Straight
bet is one of the most common forms of sports betting: The bettor picks
which team will win the game. For football, basketball, or hockey there
will generally be a point spread as part of the bet. If the favorite is
chosen then the points are subtracted from the final score and if the
underdog is chosen the points are added to the final score.
Sportsbook:
A collection of all the bets taken
on a fixed odds betting event.
Stake:
The amount of money that is bet.
Straight Out:
see Win Only.
Teaser:
A teaser,
like a parlay, involves multiple propositions. When betting a teaser
additional points are either added to the underdog or subtracted from the
favorite. Odds are changed in accordance to the number of points the
spread is moved and the number of teams combined to form the teaser.
The Spread:
Odds makers need a way of making even bets possible. They assign a point
advantage to a weaker team that is expected to lose by a certain number of
points. If you bet on the stronger team, they need to win by more than the
point advantage (covering the spread) in order for you to win. Half-point
spreads are also possible and available for purchase.
Tips:
The selections and predictions of
competitors performance for an event from an expert or observer.
Total or over/under wager:
A total wager is a bet on the number of points scored in the game (both
teams combined).
Treble:
Select the teams or players you
believe will win three separate specified events, e.g.: Winners of three
games of rugby union. All bets are placed prior to the first event.
Win Only:
Betting on a competitor to win an event. Also known as 'straight out' or
'money line' betting.
Payoff
odds for side/straight bets:
For football, basketball, and hockey the payoff is $100 for every $110
wagered, unless otherwise noted. Therefore, $110 will be wagered if you
specify a $100 straight bet.
Payoff odds
for totals or over/under bets:
For football and basketball the payoff is $100 for every $110 wagered,
unless otherwise noted.
Payoff odds
for parlay wagers:
Webbookmaker’s parlay payoffs are as outlined in the following table:
Select the teams or players you believe
will win two separate specified events or two parts of the same event,
e.g.: Winners of a rugby and league game, or the half and full time
leaders in the same game. All bets are placed prior to the first event.
Even Money:
Odds when you will double your money. E.g. for a $1 stake the dividend
would be $2.
Favorite:
The competitor seen as having the
greatest chance of winning. Typically it has the most money bet on it.
Field:
All the individual competitors in an
event.
Fixed Odds:
Your dividend is fixed at the odds
when you placed your bet. No matter how much the odds fluctuate the odds
at the time you bet are fixed. Your dividend for winning is paid at the
value stated on your ticket, no matter what happens after you have placed
your bet.
Futures:
Fixed Odds betting which is taken well in advance of the event.
Head to Head:
Select the team, or player, you believe will win the game or an event.
In the Red:
See ODDS ON
Juice:
This
is a slang term meaning the commission that you must pay if you bet
against the spread. You must have a winning average of over 52.38% in
order to come out ahead.
Line Betting:
See POINTS START.
Long Odds:
Generally greater then $11 (or 10/1)
Long Shot:
A competitor at long odds not given as high a chance of winning as other
competitors.
Margin:
The amount a competitor in an event finishes in front of another
competitor.
Money line bet:
The
difference between a pointspread bet and a moneyline bet is that there are
no points involved. Instead, money odds are wagered on the favorite or
underdog. There is a different moneyline total for either side on a money
line bet, a negative side (the favorite) and a positive side (the
underdog): Dallas -170 Washington +150 What this means is
that Dallas is the favorite and for every $17 you bet on Dallas, you win
$10 if they win. For every $10 you bet on Washington, the underdog, you
win $15 if they win. By offering different odds for each team the
sportsbook is able to balance action on both teams.
Multiples:
This involves picking the winners of
more than one event. A single wager amount is placed on more than one
outcome, whereby the stake and winnings of the first selection will be
rolled over onto the second selection and so on. See DOUBLE, TREBLE, and
PICK 4.
Odds:
Chances of winning expressed in dollar (monetary) terms. Dividends
displayed in dollar terms are inclusive of the unit of outlay. Odds can
also be expressed in fractional terms showing the ratio of Win to Stake.
Example: The New Zealand All Blacks to win the Rugby World Cup shows a
dividend of $5. In fractional terms they would be quoted at 4/1 - for a
stake (bet) of 1 unit you win 4 units for a total return of 5 units.
Odds Against:
The odds when you will win more than double your money. E.g. for a $1
stake the dividend would be anything more than $2.
Odds Assessor:
See Bookmaker.
Odds-On:
The odds when you will win less than double your money. E.g. for a $1
stake the dividend would be anything less than $2. Also known as odds
being "in the red".
Parlary:
A parlay
bet is a single wager involving multiple propositions. The bettor must
chose the winner of each proposition in order to win the parlay (pointspreads
are applicable). Payout odds increase as the number of included
propositions increases.
Placegetter:
Typically the competitors finishing first, second and third in an event.
In some events the number of places paid may vary.
Points Start:
Betting is a handicap system whereby the punter concedes or receives a
start designed to make an event a more even betting proposition. Also
known as LINE BETTING.
Propostion/future bet:
A proposition bet is a bet offered with conditions and odds
determined by an oddsmaker. These bets are usually exotic bets like which
quarterback will complete the most touchdown passes, which team will score
the last points in a game, or which will complete the longest fieldgoal.
Many prop bets are offered at 11-10 odds, but some will be offered at
better or worse odds, depending on the bet.
Return:
Your total winnings on a bet
Roughie:
see LONG SHOT
Side/Straight Bet:
Straight bet is one of the most common forms of sports betting: The bettor
picks which team will win the game. For football, basketball, or hockey
there will generally be a point spread as part of the bet. If the favorite
is chosen then the points are subtracted from the final score and if the
underdog is chosen the points are added to the final score.
Sportsbook:
A collection of all the bets taken on a fixed odds betting event
Stake:
The amount of money that is bet.
Straight Out:
see Win Only.
Teaser:
A teaser,
like a parlay, involves multiple propositions. When betting a teaser
additional points are either added to the underdog or subtracted from the
favorite. Odds are changed in accordance to the number of points the
spread is moved and the number of teams combined to form the teaser.
The Spread:
Odds makers
need a way of making even bets possible. They assign a point advantage to
a weaker team that is expected to lose by a certain number of points. If
you bet on the stronger team, they need to win by more than the point
advantage (covering the spread) in order for you to win. Half-point
spreads are also possible and available for purchase.
Tips:
The selections and predictions of competitors performance for an event
from an expert or observer.
Total or over/under wager:
A
total wager is a bet on the number of points scored in the game (both
teams combined).
Treble:
Select the teams or players you believe will win three separate specified
events, e.g.: Winners of three games of rugby union. All bets are placed
prior to the first event.
Win Only:
Betting on a competitor to win an event. Also known as 'straight out' or
'money line' betting.
Payoff
odds for side/straight bets:
For
football, basketball, and hockey the payoff is $100 for every $110
wagered, unless otherwise noted. Therefore, $110 will be wagered if you
specify a $100 straight bet.
Payoff odds
for totals or over/under bets:
For football and basketball the payoff is $100 for every $110 wagered,
unless otherwise noted.
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