Betting101 is a glossarry with most of the comun terms used in the betting sometime is difficult for new bettor since there are many terms used in the betting with this glossary we hope to everyone take a time to familiarize with all the terminology so you can be more comfortable when you place a bet or when you chat with other we tried to collect all terms possible so if you miss a term send it to us we will add it to the list.

Sports Sports Betting Glossary

-Accumulator: (Also Parlay) A series of bets on multiple outcomes, all outcomes must be successful for the player win the bet.

-Action: Any kind of bet. Different rules apply in different sports in determining if a bet is action or no action (e.g. baseball bets are action when the game gets beyond 4½ innings).

-Ajax: UK slang term for 'Betting Tax.

-All in: With all-in betting there are no refunds given for scratched or withdrawn competitors or teams in an event where a bet is placed.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.

-Ante Poste: Bets placed in advance predicting the outcome of a future event. Ante-post prices are those on major sporting events, usually prior to the day of the event itself. In return for the chance of better odds, punters risk the fact that stakes are not returned if their selection pulls out or is cancelled.

-Arbitrage: Where a change in odds allows a bettor to back both sides and guarantee a win.

-Backed:  A 'backed' team is one on which lots of bets have been placed.

-Banker:  The bettor strongest selection in a parlay or accumulator. In other works the banker is a bet that must win to guarantee any returns.

-Bar Price: Refers to the odds of the selections at the last quoted price and bigger. The bar price is the minimum odds for any of those selections not quoted.

-Beard: A contact (friend or acquaintance) who places bets for a bettor who wants to hide their identity from bookmakers.

-Beef: A dispute or claim involving a player and his bookmaker or a casino dealer. A dispute over the outcome of a bet.

-Bet: To lay money on the correct prediction of an outcome.

-Bettor: Someone who has a bet. A "punter" in the UK.

-Blind Bet: A bet made by a racetrack bookmaker to draw other bookmakers' attention away from his sizeable betting on another horse- and thus to avoid a shortening of the odds on the other horse.

-Book: A bookmaker's tally of amounts bet on each competitor, and odds necessary to assure him of profit.

-Bookie/Bookmaker: A company who is licensed to accept bets on the result of an event based on their provision of odds to the customer.

-Bottle: UK slang, Odds of 2 to 1.

-Bridge-Jumper: Bettor who specializes in large show bets on odd-on favorites.

-Buck: A bet of $100 USD (also known as a "dollar bet").

-Burlington Bertie: Odds of 100 to 30

-Buy Price: In Spread or Index betting, the higher figure quoted by an Index bookmaker.

-Buy the Rack: Purchase every possible daily-double or other combination ticket.

-Canadian: Also known as a Super Yankee. A Canadian is a combination bet consisting of 26 bets with 5 selections in different events. The combination bet is made up of 10 doubles, 10 trebles, five 4-folds and one 5-fold.

-Carpet: UK slang for Odds of 3 to 1 (also known as "tres" or "gimmel").

-Chalk: The favorite.

-Chalk Player: A person who usually places his bets on the favorite.

-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 significantly alter the chances of either team winning, thereby making the outcome far more uncertain.

-Closing Line: The final list of point spreads offered before game time.

-Combination: Selecting any number of teams/horses to finish first and second in either order.

-Correlated Parlay: Correlation is the degree to which the results of two bets are related. An example of two bets that are correlated is the Giants to lead at the half and the Giants to win the game. A correlated parlay is essentially a bet that is tied into another positively, in that if one bets wins, it increases the odds of the other bet winning. A more blatant example would be parlaying the first half over to the second half over to the game over. If you win the first half over wager and the second half over bet, you're obviously going to win the wager for the game.

-Cover: In sports betting, beating the spread by a required number of points. To "cover the spread".

-Daily Double: Form of pari-mutuel betting in which the bettor makes a combination bet on two horses in two races. If the bettor wins on the 1st race, his winnings become his stake on the 2nd.

-Dead Hit: Finishing equal. Both win.

-Dime Bet: A $1000 wager.

-Dividend: The agreed payout or return on any bet.

-Dog: Somebody who is expected to lose a fight or contest. Also known as the "underdog".

-Dog Player: A person who usually places his bets on the underdog.

-Dollar Bet: A $100 wager.

-Double: A twin bet on two separate specified events or two parts of the same event. A form of parlay or accumulator.

-Double Action: An "if-bet" that proceeds if the precedent bet is won, tied or cancelled.

-Double Carpet: UK slang for Odds of 33 to 1, based on 'Carpet'.

-Doubling or Nothing: An even-money bet, a bet that pays off exactly the amount wagered.

-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 event winners 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.

-Drift: When the price of a selection moves out (gets bigger), often due to a lack of support. That selection is said to be "on the drift".

-Dual Forecast: A “tote” bet operating in races of 3 or more declared runners in which the punter has to pick the first two to finish in either order.

-Dutch: Eliminating heavily bet non-contenders, betting on others in exact proportions necessary to yield some profit no matter which wins.

-Each-Way: A bet which consists of two wagers. The first is for the selection to win and the second is for the selection to place, at a proportional price dependant on the place terms.

-Edge: A punter's advantage in a bet.

-Evens: Odds of 1 to 1 (also known as "scotch" or "levels").

-Exotic: Any wager which is not a straight bet, e.g. round robin, parlay, teaser.

-Favorite: The team or individual the sportsbooks rate most likely to win that contest or event. Typically it has the most money bet on it.

-First half-bet: A bet placed solely on the first half of a game.

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