Listed below are sports betting terms (glossary, definitions).
Juice: (or Vigorish) is the sportsbooks’ commission on a losing bet, and is often referred to as 11/10.
Joint Favorites: is when a bookmaker cannot determine who is the underdog and the favorite because both teams seem to have an equal chance of winning.
cheerful: is the favorite Example sentence: The Australian NRL Club West Tigers are the favorites for the NRL Grand Final.
Long odds: they are odds of 10 to 1 or more.
Placement points: is when a punter gives up points and backs the favourite.
To close: means a guaranteed winner, a sure thing. Example sentence: My brother Glen made a serious rookie mistake thinking he had a lock, a sure winner in an up and coming boxing match, he placed a $2000 bet and lost it all, what was worse he went and took it he told everyone else. he was a lock, other people probably lost money because of his bad advice.
Placement price: is betting on the favorite and betting for money.
Let: It is when a sports bookmaker places money with another bookmaker to reduce their risk.
limit: in sports betting this is the maximum allowed bet you can make before the bookmaker adjusts the odds.
Line: current points/odds spread in a sports match.
Line creator: a person who works at a sports betting establishment who sets the betting line for a match.
LBO: is the acronym licensed betting office which is region specific and generally only used in the UK.
long shot: is when you place a bet on a team that is not likely to win. Example sentence: Sometimes I like to bet on the long shots because the long odds pay a lot more and I’m a sucker for losers.
To enlarge: it is when the odds of a particular outcome in a sports match increase and therefore pay more as a result.
