Here are some of the terms defined in a simple manner to help you get started in Sports betting:
Action- a bet of any kind.
Book- an institution or organization that accepts bets for any sporting event.
Bookie- the person assigned to accept bets. Also called the bookmarker.
Buy points- For the favor of the bettor, he can adjust the point spread.
Chalk- also known as the Favorite or the preferred winning team.
Chalk Player- a player that usually bet on the Favorite and rarely on the Underdogs.
Dog- also known as the Underdog or the second best.
Dog Player- one who usually plays bet on the Underdogs and seldom on the Favorite.
Exotic Wager- a bettor who uses various betting styles such as parlays, teasers, etc., other than the usual or straight bet.
Favorite- the preferred team or player.
Figure- the amount of money owed by the bookie.
First half bet- a bet that is placed on the first half of the game.
Future- this is also called the future bet because odds are posted in advance.
Getting down- the action of creating a bet.
Hedging- the bettor places his bet on both sides or teams to still gain an amount and avoid losses.
Half- time bet- bet placed on the second half of the game.
Handicapper- creates predictions on the outcome based on past results of the game.
Limit- the maximum amount of bet allowed by the bookie before changing the spread points.
Middle- may also be called Middling which is used to gain wins on both sides of the game.
No action- no money is lost or won.
Odds- refer to the likelihood or probability that a game or team will win.
Parlay-a bet made with two or more teams.
Point Spread- the predicted scores between two teams.
Prop bet- also called the proposition bet. A bet for special topics of the game.
Round Robin-a type of parlay that involves bets on several teams.
Square- a beginner in sports betting.
Teaser- a type of parlay in which a bettor can change the point spread in the game.
Trends- past performance of a team or player.
Value- highest advantage of bets.
Wager- a term used for betting.
Wise Guy- a knowledgeable handicapper or bookie.
Most bettors rely on Sport Picks in deciding for the game or team to place a bet onto.