Since online sports betting has become a popular activity, many new bettors are eager to get in on the action and start making money by placing cash wagers on their favourite teams, players and events. Before any betting takes place, new bettors should become familiar with some of the common terms associated with betting online. By learning these terms, bettors will have a better understanding of how online sports betting works. Additionally, they will enjoy a rewarding and exciting experience when they visit their favourite sportsbooks.
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Sports Betting Terminology
Common terms may not apply to all types of bets. However, if bettors have an idea of what is being referred to, they will have better chances of placing successful bets. The following list contains common terms and their meanings that form part of our betting dictionary for the US players.
- Action – refers to any type of wager and the amount of money that is being bet.
- Blind Bet – this is a bet that is made by a racetrack bookie that will draw the attention of other bookies away from them betting on another horse. This shortens the odds.
- Dime Bet – refers to a wager that is worth $1000.
- Even Money – a wager that is placed when there are even odds, thus producing even chances at winning.
- Futures – these are odds that are posted on an event that will take place in the future, such as league championship games.
- Hedging – this occurs when a bet is placed on the opposite side to cut losses or create a guarantee for profits from a previous wager.
- Juice – this is the commission that is made by the bookmaker.
- Odds – these are the views of the chances of any competitor winning an event. Most bettors will place their cash bets on the best odds.
- Parlay – this is a single bet that will include two or more teams or players. With this bet, all teams must win in order for winnings to be generated.
- Proposition Bet – a specific wager that is placed on a certain aspect of a game. This could be how many touchdowns will be scored or how many home runs will be hit in a game.
- Winning Margin – a bet that will predict the margin if the win between one team and another.