Those who’ve learned how to make money betting on sports a long time ago frequently try to give beginners or newbies the impression that the sports betting process is easy. Seasoned sports gamblers may say things like: “Yeah, if you want to get in on the action, you just bet up to 10% of your bankroll, then the bookie gets the opening line from Vegas, but the oddsmaker may move the line to protect his vig-and of course you’ll want to pay close attention to the spread, which is essentially a handicap that sportsbooks use to increase game competitiveness from your perspective; that also affects the overall handle.” What? If that makes little or no sense to you at all, to learn sports betting vocabulary-the 1st step to make money betting on sports, just read on…
SPORTS BETTING VOCABULARY YOU NEED TO KNOW
Action: Any kind of betting activity including sports betting.
Bankroll: The overall amount of money that you are comfortably willing to lose on all of your sports bets.
Bookie: An individual [as opposed to a business organization] who accepts and processes bets.
Handicap: Within the sports betting sphere, handicap means to give one team or opponent a point or scoring advantage in an attempt to level the level the sports betting field. Handicapping is practice of predicting the result of a competition for purposes like betting against the point spread. A favored team that wins by less than the point spread still wins the game, but all bets on that favored team would lose.
Handle: The total amount of money wagered on bets for a particular sports event.
Juice: The amount charged by the bookie or sportsbook for their services; same as profit or vig.
Money Line: Used instead of point spreads as a sort of handicapping method in low-scoring sports like baseball, ice hockey, and soccer.
Oddsmaker: Those who constantly study and research sports and set the money lines.
Sportsbook: A business organization that accepts and processes bets.
Spread: Commonly known as “the point spread” is basically a handicap used in high-scoring sports such as basketball and football to make games and matches competitive from the bettors’ perspective.
Vig: The percentage of all bets that the sportsbook or bookie takes as profit; bookmaker’s commission on losing bets; charges taken on bets by casinos or any gambling establishment. [Origin: Short for “Vigorish”, which is derived from Yiddish slang term “Vyigrish”, the Russian word for “winnings”]
The preceding sports betting vocabulary list will get you started, but it’s really just proverbial “tip of the iceberg” when comes to learning how to actually make money betting on sports. I hope you have found this information useful.