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Bad beat: Losing a bet you should have won. It's especially used when the betting result is decided late in the game to change the side that covers the spread. Also used in poker, such as when a player way ahead in the expected win percentage loses on the river last card. Book: Short for sportsbook or bookmaker; person or establishment that takes bets from customers.
Buying points: Some bookies or sportsbooks will allow customers to alter the set line and then adjust odds. For example, a bettor might decide he wants to have his team as a 3-point underdog instead of the set line of 2. He has then "bought" half a point, and the odds of his bet will be changed. Chalk: The favorite in the game. People said to be "chalk" bettors typically bet the favorite. Consensus pick: Derived from data accumulated from a variety of sportsbooks in PickCenter.
The pick, and its percentage, provides insight as to what side the public is taking in a game. Cover: The betting result on a point-spread wager. For a favorite to cover, it has to win by more than the spread; an underdog covers by winning outright or losing by less than the spread.
Edge: An advantage. Sports bettors might feel they have an edge on a book if they think its lines aren't accurate. Exotic: Any wager other than a straight bet or parlay; can also be called a "prop" or "proposition wager. Favorite : The expected straight-up winner in a game or event.
Depending on the sport, the favorite will lay either odds or points. For example, in a football game, if a team is a 2. Fixed : A participant in a particular game who alters the result of that game or match to a completely or partially predetermined result. The participant did not play honestly or fairly because of an undue outside influence. Futures bet : A long-term wager that typically relates to a team's season-long success. Common futures bets include betting a team to win a championship at the outset of a season, or betting whether the team will win or lose more games than a set line at the start of the season.
Halftime bet : A bet made after the first half ended and before the second half begins football and basketball primarily. Handle : The amount of money taken by a book on an event or the total amount of money wagered. Hedging : Betting the opposing side of your original bet, to either ensure some profit or minimize potential loss. This is typically done with futures bets, but can also be done on individual games with halftime bets or in-game wagering. Hook : A half-point. In-game wagering : A service offered by books in which bettors can place multiple bets in real time, as the game is occurring.
Juice : The commission the bookie or bookmaker takes. Standard is 10 percent. Layoff: Money bet by a sportsbook with another sportsbook or bookmaker to reduce that book's liability. Limit : The maximum bet taken by a book. Middle : When a line moves, a bettor can try to "middle" a wager and win both sides with minimal risk. Suppose a bettor bets one team as a 2.
She can then bet the opposite team at 3. She would then win both sides of the bet. Money line noun , money-line modifier : A bet in which your team only needs to win. The point spread is replaced by odds. Oddsmaker also linemaker : The person who sets the odds. Some people use it synonymous with "bookmaker" and often the same person will perform the role at a given book, but it can be separate if the oddsmaker is just setting the lines for the people who will eventually book the bets.
Off the board : When a book or bookie has taken a bet down and is no longer accepting action or wagers on the game. This can happen if there is a late injury or some uncertainty regarding who will be participating. Also used in prop bets. Parlay : A wager in which multiple teams are bet, either against the spread or on the money line. The more teams you bet, the greater the odds. Pick 'em : A game with no favorite or underdog. The point spread is zero, and the winner of the game is also the spread winner.
Point spread or just "spread" : The number of points by which the supposed better team is favored over the underdog. Proposition or prop bet : A special or exotic wager that's not normally on the betting board, such as which team will score first or how many yards a player will gain. Sometimes called a "game within a game. Push : When a result lands on the betting number and all wagers are refunded.
Here, we're going beyond betting on which team will win the game. Instead, we have to determine what is the likely margin of victory, so a lot of factors need to be considered to arrive at an informed decision. Since you usually have a clear favorite and a clear underdog in any matchup, the point spread was created by Charles McNeil an ex-math teacher-turned-bookmaker before World War II as a means to level the playing field, and induce more money to be wagered on the games.
Instead of wagering on which team wins, you're wagering on the margin of victory. When we dive into the numbers, everything will become more evident. The best way to illustrate the way point spreads work is to use an example. It's an exciting match with the Spurs being the favored team. The bookmaker assigns points to both teams, giving the bettors the following betting lines:. The first thing you'll notice is the fact that there are two different numbers alongside each team.
In this example, the Spurs are the favorite, and need to win the game by more than 7. The Lakers, on the other hand, are the underdog, and would have to win outright, or not lose by more than 7. The second number alongside each team are the betting odds. You'll find these associated with any wager type. But unlike a moneyline wager, they are much closer to each other in a point spread bet. That's a lot of money to risk for many bettors, so a point spread might be a better alternative.
Most sportsbooks have standard odds for football and basketball games. But some, like our 1-rated sportsbook, BetAnySports , offer reduced juice, which is a huge benefit for gamblers. Then, the two teams in a football or basketball game would have odds of just As you can see in the example above, the point spread numbers carry a half-point rather than a round number.
Bookies came up with this to more easily balance their books, so they can have equal action on both sides, and earn their vigorish with less risk. When a wager ends in a tie, bettors get a refund of their stake, as no team covers the spread. The reason for this is because football and basketball are the most popular sports for the point spread bet.
Nevertheless, you can bet against the spread in hockey, baseball and soccer, as well -- but because there is a lot less scoring, most bettors in those sports still favor betting on the moneyline. This allows bettors to wager on baseball, hockey and soccer without having to deal with games of or higher odds.
As you can see, with a little research, and a little experience, point spread betting can be easily mastered. It's the most popular form of wagering for a reason. Now, with anything popular, there comes a lot of competition.
Of course, you're betting against the house, but every bettor has the opportunity to do as much research as he wants to gain an edge. We've been at this for a long time, and have gained tons of experience over the years. To give you a headstart over other bettors, we're sharing some of these lessons with you.
The moment a sportsbook publishes the betting lines for any matchup, bettors can start wagering. Bear in mind that not every sportsbook will publish its initial odds at the same time. Some, like BetOnline , BetAnySports , or BookMaker , are extremely early in their publication, while others will come to market later, after the early odds have been bet into, and settled a bit.
Sharp bettors will have accounts at many of the early books. If you notice a soft line, you can get down before it moves.