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900K on sports betting in Feb. Action: Having a wager on a game. If a team is 5-2 ATS, it means it has a 5-2 record against the point spread, or more commonly referred to simply as the “spread. Backdoor cover: When a team scores points at the end of a game to cover the spread unexpectedly. Bad beat: Losing a bet you should have won. It’s especially used when the betting result is decided late in the game to change the side that covers the spread. Bookie: A person who accepts bets illegally and charges vig.
Buying points: Some bookies or sportsbooks will allow customers to alter the set line and then adjust odds. For example, a bettor might decide he wants to have his team as a 3-point underdog instead of the set line of 2. He has then “bought” half a point, and the odds of his bet will be changed. Chalk: The favorite in the game. People said to be “chalk” bettors typically bet the favorite. Closing line: The final line before the game or event begins. The pick, and its percentage, provides insight as to what side the public is taking in a game. Cover: The betting result on a point-spread wager. Sports bettors might feel they have an edge on a book if they think its lines aren’t accurate.
Even money: Odds that are considered 50-50. Favorite: The expected straight-up winner in a game or event. Depending on the sport, the favorite will lay either odds or points. For example, in a football game, if a team is a 2. 5-point favorite, it will have to win by three points or more to be an ATS winner. Fixed: A participant in a particular game who alters the result of that game or match to a completely or partially predetermined result. The participant did not play honestly or fairly because of an undue outside influence. Futures bet: A long-term wager that typically relates to a team’s season-long success. Common futures bets include betting a team to win a championship at the outset of a season, or betting whether the team will win or lose more games than a set line at the start of the season.
Handicapper: A person trying to predict the winners of an event. Handle: The amount of money taken by a book on an event or the total amount of money wagered. Hedging: Betting the opposing side of your original bet, to either ensure some profit or minimize potential loss. This is typically done with futures bets, but can also be done on individual games with halftime bets or in-game wagering. If a team is a 7. 5-point favorite, it is said to be “laying seven and a hook. In-game wagering: A service offered by books in which bettors can place multiple bets in real time, as the game is occurring. Juice: The commission the bookie or bookmaker takes. Layoff: Money bet by a sportsbook with another sportsbook or bookmaker to reduce that book’s liability.