20 Years Experience
Action: A bet.
Beard: A proxy bettor, a front man.
Betting cards: A system of betting in which gamblers must pick between three to twenty winners from a list of upcoming games.
Betting line: The posted list of upcoming games and their point spreads.
Bookmaker: A broker who accepts wagers from gamblers and takes a commission..
Bottom sheet: A bookmaker’s accounting of gambling debts.
Circled game: A contest in which only limited action is accepted. 
Closing line: The final list of point spreads offered before game time.
Covering the spread: Beating the posted point spread.
Edge: An advantage that one believes might improve one’s ability to predict the outcome of a game.
11-10: The traditional bet with a bookmaker in which the gambler puts up $11 to win $10.
Favorite: The predicted winning team in a particular contest.
Hack: A sportswriter who provides extraordinary loyalty to a particular team or sport in order to maintain his access and sources.
Handicapper: One who determines the conditions and sets the odds that will equalize two teams in an upcoming game.
Handle: The total amount of money bet on a particular game or series of contests.
Hedge: The covering of a bet with a second bet; a layoff.
High roller: A high-stakes gambler.
House: The operator of any gambling business.
Injury report: A description of the status of an injured player, which is frequently used as a variable in betting equations.
Inside information: The data obtained on a particular team or its players and/or staff that may impact upon the final outcome of a game.
Juice: The money owed to a bookmaker.
Lay: To bet.
Layoff: A bookmaker’s bet with another bookmaker made in order to help equalize the excess action he has accepted from his customers.
Line: The posted list of games and their point spreads.
Lock: A sure winner.
Middling: Betting on both teams in a game at different point spreads, in the hope that the final score comes in between so that both bets can be won.
Moving the line: Making alterations in the line based on the volume of betting or other factors, such as injuries.
Odds: The ratio of money that may be won versus the amount of money bet.
Oddsmaker: A person who sets the line.
Off the boards: A situation in which bookmakers will accept no further action.
Opening line: The initial list of point spreads for upcoming games.
Over/under the total: Betting that the combined score of two teams in a particular game will be over/under a predicted number.
Pari-mutuel: A betting system in which the amount of money paid out to winners is based upon the total pool of bets.
Parlay: Betting on a combination of two or more games.
Player: A gambler.
Point spread: A form of handicapping in which oddsmakers predict how many points one team needs against another in order to even out the public betting on a particular game.
Power rating: A number created by a handicapper on the basis of the strength of a particular team.
Press: To increase one’s bet.
Price: Point spread.
Price per head: Outsourcing and software services used by a bookmaker for a fee based on the number of players.
Pricemaker: An oddsmaker.
Push: A bet that falls right on the point spread; a tie in terms of a money decision.
Sportsbook: A sports bookmaking business.
Stand off a bet: To tie or push.
Taking a lead: An early bet with a favorable price in anticipation of a subsequent movement in the line.
Tote board: A device that posts teams, contests, and either the odds or the line.
Underdog: The predicted losing team in a particular contest. Also called the homedog.
Vigorish: The bookmaker’s commission.
Michael Hill is an avid sports fan and a sports writer who has been in the betting and price per head industry for years. Michael writes about his experience and offers tips for other aspiring entrepreneurs who wish to make a living with sports bookmaking.
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