| Bankroll: |
Also known as
'roll' or 'wad' (colloq.) This is gambling money or risk money, as
opposed to the money you live on. |
| Book: |
Running a
'book' is the act of quoting odds and accepting bets on an event. Hence the
term 'Bookmaker'. |
| Case money: |
Emergency
money. |
| Chase: |
Having lost
money on a bet, "chasing" is having another bet simply to try and get back the
loss, usually on a random wager. |
| Drop: |
Money
lost. |
| Get on |
Have your bet
accepted |
| Group bet: |
Betting
between a selected group of teams or players, not necessarily in direct
competition with each other. |
| Juice: |
(U.S) See 'Vig'.. |
| Lay: |
Take a bet on,
like a Bookmaker. |
| Line Betting: |
It is an
even-money paid bet where you take a position either side of two possible
outcomes of the event. e.g. England runs vs. Australia may quote 225-230
(a bit like a spread), thats called the Line. Selling the Line
means you win if they score less than 225 and Buying the line
means winning if they score more than 230. This is popular in the
U.S. |
| Match Bet: |
A bet between
two teams or people, not necessarily in competition with each other. e.g. two
golfers who will be trying to win their tournament, not beat each other or be
aware that the bet exists |
| Odds: |
The ratio to
which your bet will be paid if your bet wins. e.g. 3-1 means for every £1
you bet, you will receive £3 of winnings |
| On tilt: |
Losing the
ability to rationalise bets and betting wildly on everything. |
| Overlay: |
This is a
price offered on a particular result that is higher than the
true odds of it actually happening. |
| Pool: |
A pool is a
sum of many collected as bets on a horse race. It is intended to be distributed
amongst those punters that successfully wagered on the podium
places. |
| Price: |
Noun ~
The quoted odds for an event to happen (like a horse to win)
Verb ~
The process of giving Prices to possible results. |
| Shorten: |
Odds that
reduce, say from 10-1 to 8-1, are said to have shortened. |
| Tote: |
"Tote" is
short for Totalisator, a system introduced to Britain in 1929 to offer pool
betting on racecourses. |
| True Odds: |
The real odds
of something happening as opposed to what the bookies offer. |
| Vig: |
Vig is short
for the word 'vigorish'. Also referred to as 'juice' (US). The edge that one
side of a bet has to make their advantage. |
| White meat: |
 Profit. |
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