Wagering Terminology
I use these terms all of the time in my writing so if you want any clue as to what is going on, Study Up.
Action - Having money on a game.
ATS - Short for against the spread. You will often see handicappers refer to at team's record ATS.
Buying the Hook - Buying an extra half point on a spread. If a team is a +6.5 point underdog some books will allow you to "buy the hook" up to +7. Of course they charge you a significant amount of juice to do this. I never, ever buy hooks.
Chalk - The favorite in the game, the team laying points on the spread.
Cover - A point spread victory. If I have Chicago +5 points and they lose 20-17, my bet still covers the spread, and I win even though Chicago technically lost.
Dime - Slang for a $1000 wager. People who bet this amount often are referred to as 'dime players'.
Dog - The team that is expected to lose a sporting event, the team getting points on the spread. See underdog.
Down On - Being down on something means you have action on that thing. I am down on Tennessee to win the 07-08 NCAA Mens Basketball National Title.
Even Money - A rare bet where juice is not involved. With even money bets you risk 1 to win 1.
Fade - To bet against something or someone.
Favorite - The team that is expected to win a sporting event, the team laying points. See Chalk.
Futures - Bets in advance on long term events such as who will the win the Super Bowl or World Series.
Handicapper - Someone who breaks down ATS betting options using statistics, trends, and models with the hopes of finding an edge. Even though I bet on sports everyday, I do not fancy myself a handicapper.
Handicapping - Attempting to predict the outcome of a game, final score and all.
Hedging - Protecting an existing bet with a second bet, Suppose you have a futures' bet on Seattle to win the Super Bowl, if they get to the Super Bowl then you could bet on their opponent and ensure a profit. Bets on individual games can also be hedged either with a 2nd half bet or via live betting. This is an advanced technique.
Hook - A half of a point on a betting line.
Juice - The reason Las Vegas hotels are so immaculate, this is the percentage of your wager that the house (the book) automatically takes. For instance if you bet $100 on a game at 10% juice (-110) and your bet wins, then you get paid $90 (plus you get your initial initial stake back).
Laying the Points - Betting on the favorite and giving up the points (according to the spread). If Cleveland is favored by 5 points than they must win the game by more than 5 points for people betting on them to win.
Line - The current odds or point spread for a game. The line for Ohio St vs Florida in the National Title game is currently Ohio St -8 over Florida.
Linesmaker - The person who is responsible for setting the spreads for every sporting event.
Middle - Sometimes when you hedge a bet with a 2nd half bet you can win both your original bet and the second half bet. This is called hitting the middle. This is tough to do.
Money Line - A bet on the outright result of a sporting event. No point spreads involved. With money line odds, the favorite might be -150 and the underdog +140. If you bet the favorite you must bet $150 to win $100. If you bet the underdog you must wager $100 to win $140.
Nickel - A $500 sports wager.
Off the board - Usually listed as OTB at most books. You'll see this when a sports book temporarily removes a line from play in order to reevaluate their number. An injury is usually responsible for a game going OTB.
Opening Line - The original line that is posted for every sporting event.
Outright - An outright victory is when a team wins the actual sporting event itself without help from a point spread. Usually this term is used when discussing underdogs
Over - When the total points scored by both teams in a game is more than the set total for that game then the game has gone 'over'.
Parlay - If you parlay two or more bets than every single bet you parlay must win in order for you to get paid. I haven't played a parlay in years and likely never will again.
Pick Em - When neither team is favored in a game it is consider a pick em contest. These are becoming more and more rare for whatever reason.
Point Spread - A number set by the sports books in an attempt to create equal action on both sides of a game.
Price - A fancy term for the odds or point spread on a betting option.
Push - A gaming tie. If Indy is -3 to win against Cincy and Indy wins the game 20-17 then the game pushes and both Indy and Cincinnati bettors are returned their initial stakes.
Sharp - Most sports books define a sharp player as someone who consistently makes money wagering on sports.
Side - A bet on either the under dog or the favorite with or against the spread.
Steam - A very rapid shift in a sports betting line in one direction.
Taking the Points - Betting on the underdog. If you bet on San Diego as a 4 point underdog then you can win your bet if San Diego wins the game outright or loses the game by less than 4 points.
Teaser - Similar to a parlay only the books give you six extra points per side. I don't waste my time with these either.
Totals Wager - A bet on the amount both teams will combine to score in a game. You can either bet under or over a total.
Tout - Someone who sells sports gambling advice. 99.9% of these guys are nothing more than used car salesman. Never in my life will I purchase sports picks.
Under - The opposite of an over. If the total on a SD/IND football game is 48, you would take the under if you think both teams will combine to score less than 48 points.
Underdog - The team that is supposed to lose a sporting event, the team getting points against the spread.
Wager - Betting money on a sporting event