- Action - To have action is to have a bet or wager on a game.
- Parlay - A parlay is a type of bet in which more than one team is chosen. It can also be called an accumulator.
- Spread - A spread is what the bookmaker thinks the game will be won or lost by therefore making the bet an evens bet with only the bookmakers edge added. An example being an NFL line at +3.5 with odds of 1.90.
- Hook - A hook is the 0.5 that bookmakers use in spreads and will eliminate the possibility of a draw or tie, meaning that unless the game is called off all bettors on the game have action.
- Moneyline - A moneyline is a wager made that does not involve a spread or run line. It is made on the outright win.
- Wager - A wager is to place a bet on the outcome of any event.
- Favorite - The favorite is the team or person that is expected to win an event.
- Underdog - Opposite to favorite. The underdog or ‘dog’ is the team, or person that is not expected to win the event.
- Futures - A future wager is a bet placed on something in the future, i.e to win the Superbowl 2014 or World Cup 2014 winner.
- Sportsbook - The sportsbook or ‘book’ is the establishment at which the person places their wagers.
- Beef - Beef is to have a dispute with a sportsbook. This is usually over the way in which an event has been settled or graded.
- Dime - A dime, in gambling terms is $1000
- Circled Game - A circled game is an event in which the bookmaker has placed limits on the amount available to wager upon it.
- Edge - The edge is the house advantage on any bet. It may also be called vig or juice.
- Exotic - An exotic is a type of wager that would not normally been seen in a book. An example being who will be the next pope.
- Hedging - hedging your bets is to lay money off on the other side of the bet to either minimize losses or create a small win.
- Limit - The limit is the highest amount that you may wager on any given event.
- Nickel - A nickel in gambling terms is $500.
- No Action - No action is to have nothing at stake on a game, or for the game to be a tie and therefore all bets returned.
- Pick - A pick is a game in which there is no spread and therefore evenly matched.
- Prop - A prop is a type of wager that can be made apart from the regular lines available. An example being, who will score the first Superbowl touchdown.
- Run Line - Is a bet made on MLB games. It is the another word for the spread and only used in MLB.
- Sharp - A sharp is a person that regularly beats the book.
- Straight - A straight, or straight bet is a wager where only one team is involved.
- Push - A push is a tie in an event meaning that your wager is returned and that there is no action.
- Total - The total is the amount of points that are scored in a game. Wagers on the total are always either under or over an amount set by the bookmaker.
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