Understanding Basic Sports Betting Terms

Action
A wager of any kind, a bet. In baseball, placing the bet no matter who pitches
Bankroll
The amount of money the player plans to gamble
Bet
Any wager
Book
An establishment that accepts wagers on the outcome of horseracing and sports events
Bookie
Person who takes the client’s bets
Buck
A $100.00 wager
Buy
A player pays an additional price to receive half a point or more in his favor on a pointspread game
Chalk
A favorite
Cover
To bet the spread by the required number of points; if such occurs, you have ‘covered the spread’
Dime (or Dime Bet)
A $1,000.00 wager
Dime Line
A line where the juice is 5{84ccd47921e566787b7405b472ea36582b7bea78c60faedb5d55493d43c879f0}
Dog
The underdog in any betting proposition
Dollar Bet (Buck)
A $100.00 wager
Double Action
An ‘if bet’ that is processed if the precedent bet wins, ties or cancels

Sports Betting 101: What are Rotation Numbers in Sports Betting?

 

Edge
Advantage
Even Money
A wager in which no vigorish or juice is laid
Favorite
The entry expected to win the event. The quoted odds reflect the extent to which the choice is favored
Fifty Cents
$50.00
First Half Bet
A bet placed only on the first half of the game
Futures
Odds posted on the winners of various major sport championships in advance of the event, including the Super Bowl, the World Series, the Stanley Cup and the NBA championship
Grand Salami
The grand total of goals scored in all the hockey games of the day. It can be wagered to go Over/Under
Half a Dollar
$50.00
Half Time Bet
(2H) A bet placed only on the second half of the game (overtime included)
Handicapper
One who studies,rates and wagers on sporting events and/or races
Handicapping
The attempt to predict the outcome of sporting events
Hedging
Placing bets on the opposite side in order to cut losses or guarantee winning a minimal amount of money
Hook
A half point added to football and basketball betting lines
Hot Game
A game which is drawing a lot of action on one side by knowledgeable handicappers

 

Sports Betting 101: How to Place a Bet at a Sportsbook

 

Juice
The bookmaker’s commission, also known as the vigorish
Laying the Points
Betting on the favorite
Laying the Price
Betting the favorite by laying money odds
Line
The current odds or pointspread on a particular event
Linemaker
The person who establishes the original and subsequent betting lines
Lock
Easy winner
Middle(s)
To win both sides of the same betting proposition; betting the favorite team at -1.5 with one bookmaker and then taking +3.5 with another bookmaker; the game ends up with the favorite team winning by exactly 3 points, you have ‘middled the game’; a favorite betting method of ‘Wise Guys’
Moneyline
Odds expressed in terms of money. For example, with money odds, whenever there is a minus (-), you must lay that amount to win say a hundred dollars, where there is a plus (+), you get that amount of money for every hundred dollars wagered
Move the Line
A player pays an additional price to receive half a point or more in his favor on a pointspread game. See ‘Buy’

Sports Betting 101: Moneyline Betting Explained – How a Moneyline Works in Sports Betting

Nickel
A $500.00 wager
Oddsmaker
Oddsmaker
Off the Board
A game in which the bookmaker will not accept action
One
$100.00
Online Sports Betting
Sports betting which is facilitated in an online sportsbook
Online Sports Book
A licensed and regulated operator that offers prices on given events occurring and other betting related services online
Over
A sports bet in which the bettor guesses that the combined point total of two teams will be above a specified total
Parlay
(1) a sport bet with two or more teams in which all teams must win or cover for the bettor to be successful and receive higher payouts; (2) a wager on two or more horseraces in which the winnings are carried over to the next race
Parlay Cards
Wagers on a minimum of 3 and up to 15 propositions; the more you pick, the higher the payoff
Pick ’em Game
Neither team is favored; take your pick and lay 11 to 10
Pointspread
The ‘line’; the handicap, or head start that the favorite gives to the underdog for betting purposes
Press
To bet a larger amount than usual
Price
The odds or pointspread
Proposition Bet
A wager on a particular aspect of the game such as how many field goals will be made
Push
Tie; neither side wins and all money is returned to the bettors
Run Down
All the lines for a specific date, sport, time, etc
Run Line
A line used when wagering on baseball

 

Sides
The names of the two teams playing: the underdog and the favorite
Single Action
An ‘if bet’ that is processed only if the precendent bet wins
Smart Money
Sides that are bet on by the more knowledgeable handicappers
Spread
The predicted scoring differential between two opponents as quoted by a sports book. (See ‘pointspread’)
Square
Unsophisticated gambler
Steam
When a betting line starts to move quite rapidly; most ‘steam games’ do not necessarily reflect the ‘right side’, but are games that the mass of bettors somehow decide to key on
Straight Bet
A bet on just one team or horse
Taking
Wagering on the underdog; taking the odds
Taking the Points
Betting the underdog and its advantage in the point spread
Taking the Price
Betting the underdog and accepting money odds
Teaser
A wager combining two or more games together and giving the player a fixed number of additional points in his favor
Ticket
A wager
Toss up
A game where the line is close to a pick ’em game
Totals
Total combined points/runs/goals scored in a game. In baseball, if either of the two listed starting pitchers don’t go, the bet is automatically cancelled
Tout
Someone who sells his expertise on sports or horse wagers
Under
A sports bet in which the bettor guesses that the total points scores by two teams will be under a certain figure
Underdog
The team perceived to be most likely to lose. Also known as the ‘Dog’

 

 

Value
Getting the best odds on a betting proposition; The highest possible edge
Vig
A sportsbook’s commission, or profit margin, for making a book
Vigorish
The commission paid to the bookmaker
Wise Guy
A well-informed or knowledgeable handicapper or bettor

 

 

Teddy Covers

After graduating from the University of Michigan in Ann Arbor, Ted Sevransky, better known as Teddy Covers, burst onto the Las Vegas handicapping scene with a top 10 finish in the 1999 Hilton SuperContest. He’s been betting as a successful professional in Las Vegas ever since.Some handicappers need a detailed biography. Teddy doesn’t – a quick Google search shows how big of an impact he’s had on the sports betting world over the past two decades including 2015's remarkable 99-58 63{84ccd47921e566787b7405b472ea36582b7bea78c60faedb5d55493d43c879f0} +47.1 unit college and NFL season. And a brief look at the recap section at Sportsmemo will give you a clear idea about the type of detailed, in-depth analysis Teddy provides to his clients with each and every play that he releases.Check out some of the notority Teddy Covers has earned...Featured in the Super Bowl sports betting documentary Life on the Line.Teddy in the New York Times here, here, here and here.Teddy’s college basketball analysis on ESPN.com.Talking NFL on Vice Sports, Bloomberg TV, The Washington Post and PBS.Discussing March Madness on CBS.Breaking down the NBA for Cigar Aficionado.The list goes on and on. Teddy gets the national publicity because he’s earned it by delivering a career filled with very satisfied clients. Sign up for a weekly, monthly or seasonal package RIGHT NOW and let Teddy put his expertise to work for you!

Teddy Covers has 37 posts and counting. See all posts by Teddy Covers

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