Note: Different countries may use different terms for how to bet and also for the types of bets.
Sportsbook or Sports book (US) = Bookmaker or Bookies (UK)
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A
Accumulator - (Also, Parlay) A multiple bet. A kind of 'let-it-ride' bet. Making simultaneous selections on two or more games with the intent of pressing the winnings of the first win on the bet of the following game selected, and so on. All the selections made must win for you to win the accumulator.
Action - A bet or wager of any kind is deemed Action if valid. Different rules apply in different sports in determining if a bet is action or no action (e.g. baseball bets are action when the game gets beyond 4½ innings).
Ajax - UK slang term for 'Betting Tax'.
All-In - With all-in betting there are no refunds given for scratched or withdrawn competitors or teams in an event where a bet is placed. Should an event be cancelled then the amount bet will be refunded.
All Up - (Also, Accumulator) This involves picking the winners of more than one event. A single wager amount is placed on more than one outcome, whereby the stake and winnings of the first selection will be rolled over into the second selection and so on.
Ante Post - (Also, Futures) Bets placed in advance predicting the outcome of a future event. Ante-post prices are those on major sporting events, usually prior to the day of the event itself. In return for the chance of better odds, punters risk the fact that stakes are not returned if their selection pulls out or is cancelled.
Arbitrage - Where a variation in odds available allows a punter to back both sides and guarantee a win.
B
Backed - A 'backed' team is one on which lots of bets have been placed.
Banker - Highly expected to win. The strongest in a multiple selection in a parlay or accumulator. In permutation bets the banker is a selection that must win to guarantee any returns.
Bar Price - Refers to the odds of the selections at the last quoted price and bigger. The bar price is the minimum odds for any of those selections not quoted. For example, in a large field, the Serie A outright markets may read Juventus 3/1, AC Milan 7/2, Inter Milan 4/1, Lazio 5/1, 8/1 Bar - meaning every other side is quoted at 8/1 or bigger.
Beard (US) - A friend or acquaintance or other contact who is used to placing bets so that the bookmakers will not know the identity of the actual bettor. Many top handicappers and persons occupying sensitive positions use this method of wagering.
Beef - A dispute or claim involving a player and his bookmaker or a casino dealer. A dispute over the outcome of a bet. A problematic situation involving a bet.
Beeswax - UK slang term for betting tax. Also known as 'Bees' or 'Ajax'.
Betting Tax - Tax on a Bookmaker's turnover. In the UK this is a 'Duty' levied on every Pound wagered. Common methods of recouping this by the punter are to deduct tax from returns (winnings) or to pay tax with the stake/wager. In the latter case, no tax is deducted from the punter's winnings.
Bettor (US) - Someone who places or has a bet. A 'Punter' in the UK.
Book - A bookmaker's tally of amounts bet on each competitor, and odds necessary to assure him of profit. Running a 'book' is the act of quoting odds and accepting bets on an event and the person doing it is called the 'Bookmaker'.
Bookie - (U.K.) Short for bookmaker. The person or shop who accepts bets.
Bookmaker - Person who is licensed to accept bets on the result of an event based on their provision of odds to the customer. (Sportsbook US).
Bottle - UK slang, odds of 2 to 1.
Bridge-Jumper (US) - Bettor who specializes in large show bets on odd-on favourites.
Buck (US) - A bet of US$ 100 (also known as a 'dollar bet').
Burlington Bertie - The price of 100-30.
Buy Price - In Spread or Index betting, the higher figure quoted by an Index bookmaker.
Buy the Rack (US) - Purchase every possible daily-double or other combination ticket.
C
Canadian - Also known as a Super Yankee. A Canadian is a combination bet consisting of 26 bets with 5 selections in different events. The combination bet is made up of 10 doubles, 10 trebles, five 4-folds and one 5-fold.
Carpet - UK slang for Odds of 3 to 1 (also known as 'Tres' or 'Gimmel').
Century - GBP£ 100 (also known as a 'Ton').
Chalk - The favored team.
Chalk Player - Bettor on favourites.
Circled Game - A game where the maximum bet is limited. The sportsbook or bookmaker puts a limit on the amount of action they are prepared to take on the game. This is most often due to doubts about key players, in games that feature key injuries, inclement weather, or unsubstantiated rumors regarding a team. Most bookies 'Circle' all Ivy League Games.
Closing Line - The final list of point spreads offered before game time.
Combination Bet - Selecting any number of teams/horses to finish first and second in either order.
Correlated Parlay - Correlation is the degree to which the results of two bets are related. An example of two bets that are correlated is the Giants to lead at the half and the Giants to win the game. A correlated parlay is essentially a bet that is tied into another positively, in that if one bets wins, it increases the odds of the other bet winning. A more blatant example would be parlaying the first half over to the second half over to the game over. If you win the first half over wager and the second half over bet, you're obviously going to win the wager for the game.
Cover - To bet the spread by the required number of points.
Credit Betting - Betting using credit with a bookmaker.
D
Dead Hit - Finishing equal. Both win.
Deposit Betting - Betting with money deposited in advance with a bookmaker.
Dime bet - A $1000 wager.
Dividend - The agreed payout or return on any bet.
Dog (US) - The underdog in any betting proposition.
Dog Player (US) - A bettor who mainly wagers on the underdog.
Dollar Bet - A $100 wager.
Double(s) - A twin bet on two separate specified events or two parts of the same event. A form of parlay or accumulator.
Double Carpet - UK slang for Odds of 33 to 1, based on 'Carpet'.
Double or Nothing - An even-money bet, a bet that pays off exactly the amount wagered.
Draw - Where competitors in an event finish evenly. Where there is a draw and this is not offered as a betting option, the return will be divided by the number of joint winners. Note that some sports have processes such as extra-time or play-offs to determine an event winner that are included as part of the bet where others are not. This may affect some bets and you should always be sure how an event would be decided in this instance.
Drift - Odds that 'Lengthen', are said to have drifted, or be 'On the Drift'.
E
Each Way - UK term for betting on a team or individual to win and/or 'Place'. The bet is automatically split into two, 50:50 and the odds for each bet are different. If your selection wins, the Place bet wins automatically. Therefore, you could win either both bets or Place only.
Even Money - A 1:1 odds bet. A $1 stake would return $2 dividend ($1 win plus $1 staked).
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