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Odds - The sportsbook's or bookmaker's view of the chance of a competitor winning (adjusted to include a profit).
Odds-against - Where the odds are greater than evens (e.g. 5 to 2).
Odds Compiler - Same as 'Oddsmaker' below.
Odds-on - An Odds-on bet has a Minus sign in front and is worked out in reverse. It is the amount you wager to win $100. In the U.K. it is a bet on odds below evens 1:1. In Europe, it is a bet on odds below 2:1.
Oddsmaker - A person who sets the betting odds. (Sportsbooks or Bookies don't set the odds. Most major sportsbooks use odds set by Las Vegas oddsmakers.)
Off the Board (US) - A game or event on which the sporstbook will not accept action.
Outsiders - Those contestants that are not expected to win. The opposite to the favorite, usually offered at lengthy odds.
Over/Under - A bet on whether the total points or goals scored by the two teams will be over or under a specified number.
Parlay - (Also, Accumulator) A multiple bet. A kind of 'let-it-ride' bet. Making simultaneous selections on two or more games with the intent of pressing the winnings of the first win on the bet of the following game selected, and so on. All the selections made must win for you to win the parlay.
Patent - A Patent consists of 7 bets involving 3 selections in different events, i.e. a single on each selection, plus 3 doubles and 1 treble.
Permutations - To 'perm' selections. For example, if you have made 3 selections (A, B and C) you can 'perm' all the possible doubles. In this case all the doubles possible are AB, AC, and BC; a total of 3 individual bets, or lines. Similarly, if you have made 4 selections (A, B, C and D) you can also 'perm' all the possible doubles from these four. Now the doubles are AB, AC, AD, BC, BD, CD; a total of 6 individual bets, or lines.
Picks - Betting selections, usually by an expert.
PK or Pick - Evenly matched teams.
Place - Finish in the top three, top four and sometimes also top five in a competition or event. A Place bet will win if the selection you bet on is among those placed. Different sportsbooks have different Place terms and you should check their rules before placing a bet.
Point Spread - (Also, Handicap) The points allocated to the 'underdog' to level the odds with the 'favorite/favourite'.
Price - The odds.
Pucks - A slang word used to indicate the game of hockey.
Punter - Bettor.
Push - A game that is tied when the point spread is factored in.
Return - Your total winnings on a bet.
Round Robin - A bet consisting of 10 bets (3 pairs of 'Single Stakes About' bets plus 3 doubles and 1 treble) involving three selections in different events. (US, A series of three or more teams into two-team wagers).
Scalper - One who attempts to profit from the differences in odds from book to book by betting both sides of the same game at different prices.
Shorten - The opposite of 'Lengthen'. Referred to odds getting shorter, that is, less attractive to the bettor.
Shut Out (US) - What happens to a bettor who gets on the betting line to late and is still waiting in line when the window closes. Also, in sports betting, when the losing team do not score.
Single - A Straight bet on one selection to win one race or event, also known as a straight-up bet.
Single Stakes About (or SSA) - A bet consisting of 2 bets on two selections (1 single on each selection any to come 1 single on the other selection reversed).
Sportsbook - The person, shop or website who accepts bets.
Spread - Point Spread.
Spread Betting - (Also, Action Line or Money Line) The amount that must be wagered to win $100, or the amount won for a $100 wager. A bet is won or lost according to whether you correctly predict the result of an event (also known as 'action line' or 'money line'). Returns or losses are calculated in proportion to how right or wrong the bettor is, and can lead to huge returns or losses.
Stanley Cup - Championship of Hockey.
Steam - When a betting line starts to move quite rapidly, usually caused by many bettors betting on it.
Store (US) - A sportsbook or a bookie.
Super Bowl - NFL Championship game.
Super Heinz - A Super Heinz consists of 120 bets involving 7 selections in different events, i.e. 21 doubles, 35 trebles, 35 four-folds, 21 five-folds, 7 six-folds and 1 seven-fold.
Super Yankee - Alternative name for a multiple bet known as Canadian, a Super Yankee is a Yankee type bet with five selections instead of four.
System - A method of betting, usually mathematically based, used by a punter or bettor to try to get an advantage.
Teaser (See also "In and Out Teaser" above) - A bet on two or more teams where the bettor can add or subtract points from the spread to make their bets stronger in return for reduced odds. All results must match the selections to win the teaser.
Thick'un - A big bet.
Tie - A push, stand-off or a draw.
Tips - Picks. The selections and predictions of competitors performance for an event from an expert or observer.
Totals - Sports bet on whether the combined number of points or goals scored by the two teams will be over/under a given mark.
Tote - Short for Totalisator. A system introduced to Britain in 1929 to offer pool betting on racecourses.
Trebles - A triple bet on three events. A form of parlay or accumulator.
Trixie - A Trixie consists of 4 bets involving 3 selections in different events, i.e. 3 doubles plus 1 treble.
True Odds - The real odds of something happening as opposed to what the bookies offer.
Two and Three Balls Betting - A golfing bet that involves predicting which player from either a group of two or three will shoot the lowest score over 18 holes.
Underdog - The team that receives a point start in a handicap.
Union Jack - A bet consisting of 8 trebles on 9 selections A to I: ABC, DEF, GHI, ADG, BEH, CFI, AEI, and CEG.
Value - Getting the best odds on a wager.
Vigorish or Vig. - The commission paid to the bookmaker.
VS - Versus, against.
WBA - World Boxing Association.
WBC - World Boxing Council.
Welsh/Welch - To fail to pay a gambling bet.
Win Only - Betting on a competitor to win an event. Also known as 'Straight Out' or 'Money Line' betting.
Wise Guy - A knowledgeable handicapper or bettor.
WNBA - Womens National Basketball Association.
World Series - Championship of Major League Baseball (MLB). The final seven games of the baseball playoffs between the two league champions to determine the world champion.
Yankee - The term used for a bet that consists of four selections, combining them into six doubles, four trebles and one fourfold - i.e. eleven bets.
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