New to Sports Wagering? Not sure how a particular sports bet works? Well you have come to the right place! Below you can read up on specific types or bets or terms to get you started. If you still have questions please feel free to register in our forum and ask any and all questions you might have. Enjoy!
• Sports Wagering Terms
• What is a Straight Bet?
• What is a Parlay?
• Parlay Calculator
• What is a Round Robin?
• What is a If-Bet?
• What is a Reverse?
• What is a Teaser?

SPORTS WAGERING TERMS

ACTION - Any bet or wager

ATS - against the spread

BOOK - A sports book or betting establishment that sets odds and accepts wagers on the outcome of sporting events.

CIRCLED GAME - A game in which the sports book reduces its normal betting limit usually because of an injury or weather condition.

COVER - When the team wins by more than the point spread.

DIME - $1000

DIME LINE - A money line in which the vigorish or bookie's juice amounts to 10 percent. (No point spread involved)

DOG - the underdog or the team getting points.

DOLLAR - $100

EDGE - Advantage

FUTURE BET - Bets accepted well in advance. Examples include betting on which team will win the World Series or Super Bowl months before the event.

LINE - The current odds or point spread on an event.

LOCK - A term meaning can't lose. (NO SURE THING)

MIDDLE - When both sides of a point spread proposition win.

ODDS-ON-FAVORITE - A horse, team or individual so favored by the public that the odds are less than even.

OFF THE BOARD - A game in which the sports book is not taking wagers on.

POINT SPREAD - The predicted scoring differential between two opponents listed by a sports book.

POST TIME - The scheduled starting time.

PUSH - A tie in the betting.

ROUND ROBIN - A method of parlaying two or more teams in all  possible two-team parlay combinations.

SIDE - When one side of a betting proposition wins and the other side ties.

STRAIGHT-UP WIN - A victory by a point spread underdog.

TAKE THE POINTS - A wager on a underdog.

VIGORISH - The juice or commission taken out by the sports book  for accepting the bet, usually 10 percent.

WAGER - Any bet.

Straight Bet

Straight bets are wagers which may be made on any sport on a side, total, or money line; on any period of the game- this includes the full game, first half, second half, and quarters.

In Football or Basketball, straight wagers on the side usually involve a point-spread. A point spread is an amount of points added to or subtracted from a team on a particular period in order to win the wager. This also determines who the favorite team is and who the underdog is in the game.

EX: Orlando Magic -2 Chicago Bullls+2

This means that if you wagered on Orlando Magic, they must win by more than 2 points in order to win the wager. On the other hand, if you wagered on Chicago Bulls, you add 2 points to their final score and this must be greater than the opponents score in order to win the wager. When you wager on the total, you are wagering on both teams’ final scores added together to go over or under a designated number. Total wagers on the full game or 2nd half include overtime periods except in case of Soccer. Usually odds in both of these options you lay 11 to win 10. There may be some variants for example 12 to 10; in this case betters on the other side would be wagering 10 to win 10. Money Lines are used in most major sports (including football, basketball, baseball, hockey, boxing, tennis, golf, NASCAR, soccer, etc.). Money lines have no point-spread, the winner of the game is the outright winner of the wager. For every money line there is a favorite and an underdog. An example of a money line in baseball is:

Yankees -240 White Sox +200

The favorite is denoted by the minus sign and the underdog by the plus sign. In this case you would wager $240 (U.S.) to win $100 (U.S.) on the Yankees (the favorite) and $100 (U.S.) to win $200 (U.S.) on the White Sox (the underdog). First and Second Half wagers are offered on most basketball and football games. You can wager on the point-spread or the total in either case. The winner is determined in the same way as a wager on the full game side or total. Remember all second half wagers include the overtime period.

Parlay

A parlay is wager in which you select from 2 to 10 teams or totals to win. The Odds of the payouts increase as you increase the number of teams selected. You receive a larger payout for risking less money. In order for a parlay to win, all picks must be winners. As soon as there is one loosing pick, the entire parlay becomes a losing bet. If one of the picks is a push, the parlay reverts to the next lowest number of teams for payout purposes. A 2 team parlay reverts to a straight bet, laying the original risk of the parlay. The payout of the straight play is calculated with the juice of the remaining winning team.

Note: These odds are based on all -110 money lines. When a Money Line is used in the parlay it has the potential to alter the payout amount in either direction depending on the line. Want to calculate your odds on a parlay? No need for a calculator we have our own! Click Here For BTB's Parlay Calculator

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