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Sportsbook Wagering Terms E-L

Early Line
The first line posted for a game.
Edge
Any advantage or perceived advantage when sports betting.
Even Money
Is a bet that pays 1/1 with no Vig or juice.
Exotic
An Exotic is any wager other than a straight bet or parlay.
Exposure
The maximum amount of money a sports book stands to lose on a game.
Fade
To bet against a side.
Favorite
The competitor who is expected to win the event
Field
All of the individual competitors in an event or the group of the entrants whose odds are not individually listed to win an event, usually long shots. They are grouped together so that a bettor wins his field bet if any of the long shots win. Events with a large number of entrants, like golf or NASCAR, most often offer field betting.
FIFA
Fédération Internationale de Football Association
Fifty cents
Is slang for a $50 wager.
Final Four
The last four teams playing in the annual March Madness NCAA basketball national championship tournament
First half bet (1H)
Is a wager on only the first half of an event, most common in football and basketball.
Five Inning Line
Is a bet placed on only the first 5 innings of a baseball game.
Futures
Is a wager placed on the outcome of a future event such as the winner of the World Series or Super Bowl
Gamble
To risk money on the outcome of an event
Getting Down
is making a wager on an event.
Getting Value
is getting the best odds on a wager.
Grand Salami
An Over/Under wager on the grand total of goals scored in all the hockey games of the day
Grand Slam
The four most important tournaments in tennis: the Australian Open, the French Open, the US Open, and Wimbledon
The four major golf tournaments: The Masters, U.S. Open, British Open, PGA Championship (Professional Golf Association)
In baseball, a homerun with the bases loaded, scoring four runs.
Half time bet (2H)
A wager place on only the second half of an event, most common in football and basketball.
Handicap
Is another term for Point Spread
Handicapper
A person who studies, rates, and wagers on sporting events and/or races.
Handicapping
Is what a gambler does to predict the outcome of an event.
Handle
The total amount of money wagered on an event
Head-to-Head
A bet on the results between two or more participants in an event, such as golf or NASCAR, where the wagers are decided not by the outcome of the event but by who does better between the players in the wager
Hedging
is to wager the opposite way of a previous wager in order to cut losses or guarantee a minimum profit.
Hold
The percentage the house wins.
Home Team
The team playing in its own town
Hook
A hook is the half point added to a point spread.
Hot game
Is a game that is attracting a lot of action on one side by knowledgeable handicapper.
House
Is the Sportsbook or bookmaker
If Bet
A wager that links together two straight bets, where progressing to the second bet is dependent on the first bet winning. If the first bet wins, the second bet is placed; if the first bet loses, however, the second bet isn't placed.
Juice
The bookmaker's commission on a losing bet, also known as "vigorish."
Key numbers
Are the numbers that frequently affect the outcome of wagering. for example, 20% of all NFL games are decided by 3 points so 3 is a key number in the NFL.
Laying the Odds
"Laying Odds" means that you are wagering more money than you will win if your wager comes through. In such an instance a bettor believes himself to have a better than 50% chance of winning his bet.
Laying the points
Betting the favorite by giving up points
Laying the price
In sports wagering, laying the price means betting the favorite by laying money odds.
Limit
Is the maximum amount accepted by a sportsbook before the odds or points are changed.
Line
The current odds or point spread on a particular event.
Line Quality
A line may be normal, circled or sharp. A line would be circled due to injuries, weather or any other factor that causes the bookmaker to think the line may move drastically. Circled lines or circled games have restrictions on the maximum bet that will be accepted. A line would be sharp if the bookmaker expects the line to remain unchanged and there to be lots of wagering on that event. Sharp lines or sharp games have higher betting limits.
Lines maker
Is the person who establishes the first line or point spread for an event.
Listed Pitchers
A listed pitcher is a baseball bet that will be placed only if both of the pitchers scheduled to start a game actually start. If they don't, the bet is No Action
Lock
is a bet that is expected to be an easy winner.
Long Odds
Longshot, usually 10:1 odds or greater
Longshot
Is a competitor that has very little chance of winning.
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