Sports Betting Slang
Sports Betting Lingo - Bettors Slang Bookmakers and bettors have had their own 'Lingo' or 'Slang' for many years. Much of this slang came about as a means to hide their activities from the law. Like many other industries, the sports betting world has its own jargon and many terms, lingo can be confusing. Our Sports Betting 101 Glossary provides a quick and simple definition of often-used terms that you may read on VegasInsider.com or hear at your local sportsbook. Sports betting and gambling laws vary by jurisdiction. We are not able to verify the legality of the information we provide, or your ability to use any sites that are linked to on this site, for every combination of your location, the sites’ location, and the type of service those sites provide.
Long before this new era of legalized sports betting swept the nation, fans and gamblers were forced to conceal their illicit wagers from prying eyes.
And whenever an industry moves underground, a whole litany of slang terms and special lingo is developed to keep outsiders out of the loop. Bookies and bettors alike have developed a unique language within their close-knit community, and that language is decidedly defined by old-school influences.
Below, you’ll find seven slang terms that can be commonly heard in any Las Vegas sportsbook.
1. Chalk
Back in a bygone era, before giant LED displays showed bettors the latest odds, horseracing tracks wrote their lineups and lines on a basic chalkboard.
And because the general public liked to bet on the favorites over the longshots, favorites would see their lines erased and updated more often. Thus, the side offering the best odds on any given matchup has come to be known as the “chalk” to this day.
- Seasoned sports bettors routinely refer to backing the favorite side as “taking the chalk.”
- An inexperienced bettor who never takes an underdog and blindly bets the favorite is derisively seen as a “chalk eater.”
There’s nothing wrong with betting on a team laying points or charging a high moneyline – those teams are favored for a reason, after all. But when the “juice” or “vig” – the fee sportsbooks charge on both sides to ensure themselves a profit – is factored in, betting predominately on the chalk does have its drawbacks.
Favorites will only win slightly over 50% of the time, mind you, so paying the vig means chalk bettors seldom wind up in the black by season’s end.
2. Wise Guy
In the world of sports betting, the term “wise guy” has taken on an almost holy connotation, covering the industry’s most connected and successful bettors.
The phrase itself stems from sports betting’s age-old relationship with the Italian mafia, as the mobsters who used to control underground betting called themselves wise guys. Today, the criminal implication has been essentially removed thanks to the end of a federal ban on the industry a few years back.
A modern wise guy is nothing more than a professional bettor who always seems to bet big bucks, get the best number, and use inside information to gain an edge. When you hear a bookmaker refer to “wise guy money coming in” on a particular side, they’re just saying that well-respected pros have been firing sizable wagers.
Wise guys are so well-respected that most sportsbooks tend to adjust their odds accordingly to offset the “sharp” action. If an NFL underdog is getting 6 points against the favorite, and the wise guys start pounding the ‘dog, you better believe the books will push that number down to -5 soon enough.
Corporate sportsbooks like to make a big show about accepting enormous bets from their “whales,” but these wagers are usually placed by wealthy “fish” instead. A true wise guy who consistently beats the books will usually wind up seeing their action limited by special caps on their action.
3 . Beard
And when that happens, a wise guy has nowhere else to turn but their favorite “beard.”
The term beard, also known as a “runner,” refers to nondescript and unknown folks employed by the wise guys to get their bets down unbeknownst to the bookmaker. The casino might have a marked wise guy’s photo and ID on file, so they know to cap that player’s action when he or she shows their face.
Beards in Las Vegas can make a pretty penny when they know how to blend in and do the wise guy’s bidding well. Of course, the jig is up once a beard starts consistently cashing out major tickets, so wise guys tend to cycle through a long lineup of new beards as time goes by.
4. Bailout
Let’s say you’ve lost $500 of you $1,000 bankroll on a series of $100 losers. You’ve been close in each game though, only losing by a point here and buzzer-beating play there.
Knowing your process is spot on, even while the results might be lacking to this point, you pick one last side and fire all $500 you have left.
This moon shot bet made in hopes of recouping all previous losses in a single score is colloquially called a “bailout.” Obviously, bailout betting is the purview of casual punters and tourists who don’t want to leave Las Vegas with a hole in their wallet. You’ll seldom see a wise guy or a sharp resort to a bailout bet, because they know chasing losses with bigger action is a recipe for disaster.
Even so, many bettors can’t resist the allure of shooting for the bailout, largely because all it takes is one correct side to erase several previous losses.
But when a bailout bet goes down in flames, these bettors are left scrambling and searching for the nearest loan shark to get back in the action.
5. Middle
One of the coolest ways to win a sports bet is to successfully “middle” each side, thereby winning twice on the same game.
Middles occur in point spread betting after the sportsbook has adjusted its initial opening lines.
Just like that, you’ve middled the sportsbook and doubled up your winnings on just one contest.
Online sportsbooks consider middling to be a telltale sign of a sharp bettor, so don’t expect to try this strategy too often for large sums before betting limits are imposed.
6. Hook
In point spread betting, the “hook” refers to any half-point increment attached to the line.
In the example above, Miami would be “laying the hook” with a -10.5 spread instead of -10. Conversely, New York would be “getting the hook” at +13.5 instead of +13.
For this reason, many bettors who like the chalk will wait until the hook has been removed, or back the ‘dog that benefits from getting the hook. Sportsbooks even let you pay additional juice on your bet to “buy the hook” and erase it altogether.
7. Steaming
When one side of a given game is attracting a ton of action, forcing the bookmaker to adjust their odds in a major way, the line is said to be “steaming” in one direction.
Many factors can cause a line to steam one way or another, including injury news, weather updates, roster additions, and playoff implications. But once the moneyline or spread starts to steam, savvy bettors try to get the best number or spot opportunities to middle the game.
If you get a line like +5 and it starts steaming down to +1 by kickoff, you can rest assured you got your action in when the getting was good.
Conclusion
Sports bettors are a breed all their own. They’re gamblers who seldom hit the table games or machines, but they’re gamblers deserving of the title nonetheless.
In fact, a public bettor who always backs the chalk will quickly become known as a square in most bet shops. If you enjoy having a little money down on the next big game, try working some of these slang terms into your vocabulary in 2021 and beyond.
Like many other industries, the sports betting world has its own jargon and many terms, lingo can be confusing. Our Sports Betting 101 Glossary provides a quick and simple definition of often-used terms that you may read on VegasInsider.com or hear at your local sportsbook.
Sports Betting Resources and Terms
Action: Any bet.
Added Game: A matchup that is not part of the daily betting rotation. 'Added Games' are often make-up or rescheduled games that were expected to be played on a previous date. In pro baseball, it's likely Game 2 of an unscheduled double-header from a rainout.
Alternate lines: Some sportsbooks may offer different (or alternate) point spreads that pay different odds for the same game. These provide bettors more options to wager on certain games.
ATS: Against the spread
Arbitrage: Savvy bettors who try to scalp the market by playing both sides of a particular matchup, with hopes of cashing a middle. The hope is to guarantee getting money back regardless of the outcome.
Bankroll: The total amount of money a bettor can spend on a betting app.
Beard: Messenger bettor, used at brick and mortar casinos and sportsbooks if the real bettor wishes to remain anonymous.
Beef: Dispute
Betting Trends: Stats that show the total amount of money wagered on a game
Buck: $100
Buying Points: Paying additional money to move the point-spread in a direction of your preference. Often used in football, bettors will buy 'on' or 'off' key numbers to avoid losing by a point or two.
Chalk: Favorite in a game by a large margin
Chalk Eater:Bettor who is known for betting on the favorites consistently
Churn: The effect of betting and rebetting money, similar to Arbitrage
Circle Game: Game where action is limited due to uncertainties about weather, injuries, etc
Cover: Win by more than the point-spread
Dime: $1,000
Dollar: $100
Dog: Abbreviation for Underdog, team expected to lose the game
Draw: A tie, used often in Soccer and sometimes in Boxing or Mixed Martial Arts
Earn: Practical hold percentage
Edge: Advantage
Even Money: When a selection has no juice or vig involved. A $100 wager will win $100, while normal wagers would make bettors lay $110 to win $100.
Exotic Bet: Action other than a straight bet or parlay, often unusual bets you won't see in many places. Can be listed under prop bets in sportsbooks.
Exposure: The amount of money the house actually stands to lose on a game or a race.
Mgm Sports Betting
Extension: The amount of money the house theoretically will risk losing on a game or a race.
Favorite: The team in a sports betting matchup that is expected to win. In football and basketball, the favorite gives points while in moneyline sports, the favorite has to lay a higher price in order to cash a ticket.
Figure: Amount owed by or to a bookmaker
Firing: Betting a lot. A player who is 'firing' is wagering large sums
Fractional Odds: Not used commonly in the United States. These are odds used mainly in Europe. Odds are listed in fraction form (1/10) instead of as a moneyline (-100).
Futures: Wagers where bettors can invest in the future outcome of a team to win a particular event, even if it isn't in the near future. Example – bettors often choose a team to win the World Series or Super Bowl and receive higher payouts based on the numbers from the oddsmakers depending on how far out the event is.
Grand Salami: A popular NHL wager where bettors handicap the total number of goals scored in all games for one day. Some sportsbooks may offer alternate versions for home, away, or periods of games during the day. Some sportsbooks may offer a similar bet for runs in Major League Baseball but this is mostly used in hockey.
Gross Win: Win before expenses
Handicapper: One who studies sports and predicts outcomes of teams and players.
Handle: Total amount of bets taken
Hedge: Bet the opposite of your original wager in order to reduce the amount of action you have on a game
Hold: The percentage the house wins
Hook: Half point in point-spreads, as in 'lost by the hook'
Home Field Advantage: Edge the home team is expected to have as a result of familiarity with the playing area, favorable demographics and effect of travel on the visiting team
Hoops: Basketball
Hot Tip: Information the bookmaker is not yet privy to
In-Game Wagering: The ability to bet on a sporting event after the game has already started and until it concludes.Also known as live betting.
juice: Bookmaker's commission, most often refers to the 11 to 10 football bettors lay on straight wagers; vigorish
Key Numbers: Most often heard in pro football, the key numbers are the most common margins of the final outcome. The key numbers in the NFL are 3, 7 and 10 points.
Layoff Bet: A wager made by one bookmaker with another to help balance his action and reduce his potential risk or losses
Limit: Bet the opposite of your original wager in order to reduce the amount of action you have on a game
Line: The betting proposition on a game and/or payoff odds on the bet
Live Betting: See In-Game Wagering. Becoming more popular as most betting apps seem to have this feature now.
Lock: An easy betting win.
Long Shot: Large underdog
L3, L5, L10: Last Three, Last Five, Last 10
Marker: Credit offered at Casinos.
Moneyline: Used often in sports like baseball, hockey and soccer -- these odds are set on the straight up winner of the matchup. There is no point-spread with moneylines. Just pick the winner!
Middle: To win both sides of a game. For example, if you bet the underdog +3 1/2 and the favorite - 2 1/2 and the favorite wins by 3, you've MIDDLED the book. The book has BEEN MIDDLED.
Neutral Site: Arena, court or field where neither side has a home field advantage. For example the Super Bowl most years.
Nickel: $500
Odds: Numbers used to determine the favorite and underdog of a sporting match. Unless the game is a pick 'em, there is always a favorite or underdog.
O/U: Over/Under
Off the Board: Game where bets are no longer being accepted. This often happens when there is unknown about a key player's injury status.
Overlay: When the odds on a proposition are in favor of the bettor rather than the house
Parlay: A bet with two or more teams where all the teams must win for the bettor to be successful. The more events in a parlay, the more money there is to cash in on but the harder it becomes to win the wager.
Past Post: To make a bet after an event has started
Pick or Pick'em: A game where neither team is favored
Point-Spread: A number or line set by oddsmakers to provide an advantage or disadvantage based on the margin of victory or defeat for the teams in the matchup. There is always a favorite (-) and an underdog (+). The most popular type of betting in the United States, mainly used in both football and basketball.
Practical Hold Percentage: The amount won by a bookmaker divided by the total amount booked
Press: To bet a larger amount than usual
Public Dog: When betting trends lean heavily to an underdog
Public Trends: Betting Percentages showing money and ticket count for games
Puppy: Underdog
Push: Tie. The bettor doesn't win or lose money, almost as if the bet didn't happen (Parlays not included).
(ROI): Return on Investment.The amount of money you win on a wager, or your return on your investment or stake.
Reverse-Line Movement: When a line (point-spread) moves in the opposite direction of the betting percentages. Some pundits believe you can follow sharp money with reverse-line movement, especially when the trends and lines differ drastically.
Round Robin: A series of parlays. A three-team round robin consists of one three-team parlay and three two-team parlays
Rundown: Line update
Run-Line: A popular pro baseball wager where the favorite (-1.5) must win by two plus runs to win or the underdog (+1.5) must win or lose by less than two runs to win.
Runner: See Beard
Score: To win a lot of money
Scratch: Withdraw or cancel
Sharp bettors: Money wagered by bettors be that a sportsbook operator respects. Sharp money often comes from large wagers placed by professional bettors. It should be noted that not all large wagers are considered Sharp.
Side: To win one side and tie the other. For example, if you lay -2 1/2 and take 3 on the same game and the favorite wins by 3 you have SIDED the book. The book has been SIDED
Steam: When the odds change because of the money wagered on a game or participant is primarily one-sided for a team. Some bettors will chase the steam thinking the other bettors know something they may not but instead they are just mostly all following the trend.
Straight Bet: A bet on just one team
Sucker Bet: Bet with a large house edge
system: When bettors and handicappers develop angles based on historical or seasonal stats.
Take a Price: Bet the underdog, take the points
Tapped Out: Broke, busted, common result of pressing
Teaser: A wager used in football and basketball that allows bettors to combine two or more selections together while adjusting the points on those selections.
Tissue Price: The initial odds offered by the sportsbook. This price is usually considered a much fairer deal for the bettor.
Toke: A tip or gratuity
Toss Up: Game where the line is close to a pick-em and either side is expected to win.
Tout Service: A business that sells opinions on sporting events
Trend: Daily, Weekly and Seasonal angles that bettors and handicappers often follow or fade in their wagers.
Triple Sharp: The sharpest of the sharp, (Note: There is no such term as 'Double Sharp')
Unit/s:Amount bet on a game.
Sports Betting Terms For Dummies
Wager: A bet
Win Totals: A future wager that allows bettors to handicap the number of victories and losses of a team during the course of a regular season.
Underdog: The team in a sports betting matchup that is not expected to win. In football and basketball, the underdog receives points while in moneyline sports, the 'dog can net a positive return if it wins.
Underlay: When the odds on a proposition are in favor of the house
Value: An overlay
Wire-to-Wire Commonly seen in the NBA, a bet where a team will lead after every quarter for the entire game.