Glossary
- SHARP: Slang term for a Professional Sports Bettor where individual wagers tend to be larger, as do the percentage of winners. Sharps generally have an edge through experience, proven systems, information networks, multiple betting outlets, etc. that the general betting public does not. Their goal is to have a winning percentage of 53% or bettor which, when betting larger amounts, will result in hefty profits at the end of the year.
- SQUARE: Slang term for the general betting public where individual wagers tend to be smaller, as do the percentage of winners.
- HOUSE: Slang term for a Sports Book.
- POINT SPREAD: (the Line) The number of points the oddsmaker believes one team should be favored to win by over another. This number is not necessarily what the odds maker actually believes will happen in a given game but rather how he feels the public will bet the game.
- JUICE: Slang term for the extra odds a bettor must lay when making a straight bet with a point spread at a sports book. For football and basketball the odds are 11-10 in favor of the house. Essentially the sports book is charging the bettor an extra 10% for accepting his wager. The Juice only comes into play when a bet results in a LOSS.
- OPENING LINE: This is the original line set by the odds maker for a given game. This line will move up or down depending on the amount of action taken on a given team. If you prefer a certain team it is critical that you lock in the best line as a half point here and there can affect your overall bottom line by thousands of dollars through a season.
- PUSH: A push occurs when the final score lands exactly on the point spread. This is considered a NO BET and the wager is null and void. The wager amount is returned to the bettor.
- STRAIGHT BET: A single wager where you are betting on one team to beat another using the point spread. The odds for this wager are 11-10 in favor of the sports book. For example if you bet $110 to win $100, and win the bet, you receive $210 back (your original $110 risk + your $100 winnings).
- PARLAY: Combining two or more teams in a single bet (up to 10 teams in some sports books). All teams must win with a parlay bet but the payoff is larger than with a straight bet. Typical odds for the most common parlays are: 2 teams 13-5. 3 teams 6-1. 4 teams 13-1. If one team in your parlay results in a PUSH the parley is then reduced by one level. For example, a 3 team parlay would be reduced to a 2 team parlay. Many sports books will also allow cross sport parlays where a football game may be combined with a basketball game, for example.
- BUYING POINTS: Some sportsbooks offer the bettor the option of buying a half point or a full point where the bettor gains an advantage but at a cost. In football the cost is even higher should the bettor wish to buy off of the key numbers of 3 and 7. For example, let’s say a bettor likes the Browns +7 but would feel better if he had +7.5 since so many games land on 7. A sportsbook may allow him to buy the half point to +7.5 but may charge him -130 rather than the normal -110.
- TEASER: A wager where two or more teams are combined and where the bettor may move the point spread up or down. For football the bettor may move the line on each team up or down 6, 6.5 or 7 points. For basketball the line may be moved 5, 5.5 or 6 points. The more points the bettor chooses to move the point spread the less odds he will receive. All teams within the teaser must win for the play to be graded as a Winner. In the event of a TIE with a 2 team teaser the play will be graded as a No Bet. In the event of a tie with a 3 or more team teaser you would need to check the rules with that particular Sportsbook. It may become a No Bet or it may stay in play but be reduced to the next lower number of teams. For example a 3 team teaser would become a 2 team teaser. The rules at individual Sportsbooks can vary greatly with any exotic bet so always know the rules before you play. Generally using teasers is more favorable in football betting.
- MONEY LINE: A money line wager is where the bettor chooses to simply pick the winner of a game without using the point spread. For example, if the Steelers are -6 point favorites over the Browns the Money Line odds may be Steelers -260 and the Browns +220. So a Steeler backer would need to risk $260 to win $100 but he would not have to cover the -6 point line. If the bettor preferred the Browns he would Risk $100 to win $220 but the Browns would need to win the game outright, rather than just covering the +6 point spread. Many bettors will choose to use a Money Line favorite in parlays rather than laying such a high price.