Sports betting is not a new activity. Just as with most other endeavors, there is a certain jargon specific to sports betting. Here is a list of some of the basic terms that you have to know for sports betting.
Action – a bet
Air move - this happens when the line on a game is changed by a sportsbook due to another book’s changing their lines. This move is not a result of the bets they receive.
Angles - A method of predicting the result based on past game results.
ATS – against the spread. This means to make a bet that will be decided by adding points to one team or the other after the game is played.
Bad beat - a tough loss. This is usually not deserved.
Barroom bookie - the local bookie who takes in your bets. He usually offers limited options and does not offer deposit bonuses.
Beard - a person who makes bets in place of another person. He usually does this because the sportsbook does not want to accept bets from that person.
Bet - to place money on the result of a certain event.
Bet limit - the highest amount a sportsbook will accept for a bet.
Book - a person or a group of people (entity) who accepts bets.
Bookie - a person who takes bets. However, this usually refers to illegal entities.
BR – bankroll
Chalk - the team that is expected to win; also known as favorite
Cover - to win against the spread
Credit Betting - a form of betting wherein you do not have to place money upfront. Most commonly used with barroom bookies.
Dime - $1,000
Even money - betting a dollar to win a dollar without having to lay any juice
Fade - to place a bet against
Favorite - the team slated to win; also chalk
Flea - a person who bets small time and wants something for nothing
Futures - bets that are placed well before the sports event is set to happen
Handicap - a verb; to analyze a match and then to predict the results
Juice - what bookmakers charge for every bet made
Odds - the chances or likelihood of a result or outcome. Odds are stated in the form of a number.
Sportsbook - a person or a group who accepts bets
Underdog - the team that is expected to lose
Upset - when the underdog beats the favorite team
Wager - also known as bet