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Exacta, or Perfecta Box - horse betting terms referring to the method of betting on a horse race in which the first and second place horses (two or more) are picked to cross the finish line in any order.
Exotic Wager - action other than a straight wager, e.g., teasers, futures, round robins etc.
Exposure - the amount of money the player or book stands to lose on any action.
Extension - the amount of money the book, theoretically, risks losing on an event.
Favorite - the team, side, horse or contestant, competing in any given event, that is considered to be the most talented or, otherwise, has the best chance to win.
Figure - an amount owed by, or to, a bookmaker, based on a player's wins or losses.
Final 4 - the remaining four teams in the NCAA basketball tournament.
Firing - the wagering of large sums of money, i.e., a player who does so is said to be firing.
Fixed - a slang term referring to the outcome of a race, contest or game that has been illegally pre-determined. No one in the mainstream sports betting world, on either side of a wager, cares for this term.
Flea - a derogatory term describing the wanna-be players who wager little, and expect something for nothing.
Foots - a slang term sometimes used to refer to the game of football.
Form - the expected performance of contestants or teams according to how well they look on paper.
Futures - a type of wager made, or lines/odds posted, on an event, or outcome, that will be determined sometime in the future, e.g., betting during the season on which team will win the SuperBowl, World Series, NBA Championship or Stanley Cup etc.
Get Down - make a wager.
Going Down - losing a wager, or series of wagers.
Gross Win - winnings before expenses.
Handicapper - a person who analyzes, studies and rates sporting events.
Handle - total amounts of wagers taken.
Hedge - to wager the opposite of your original wager in order to reduce your exposure.
Hold - The percentage the house wins.
Holding Your Own - the result of breaking even, i.e., neither winning nor losing, during a wager, or series of wagers.
Home Field Advantage - the edge the home team is expected to have as a result of playing on home turf. For example, it would normally be more familiar with the playing area, enjoy greater fan support, and avoid the effects of travel endured by the visiting team.
Hook - a half point added to football and basketball point spreads, as in 3.5 or 3 and a hook.
Hooked - the loss of a wager by exactly a half point.
Hoops - a slang term referring to the game of basketball.
Hot Game - a game which is attracting a good deal of action, on one side, by skilled handicappers.
Hot Tip - wagering information/data not yet in the hands of the bookmaker.
IBF - an abbreviation for International Boxing Federation.
Juice - the bookmaker's commission. Often refers to the 11/10 players lay on straight wagers on football games. Juice is also known as vigorish, or simply vig.
Lay the Points - a wager on a favorite in a point spread event.
Lay the Price - a wager on a favorite in a money line event.
Layoff Wager (Bet) - a wager made by one bookmaker with another bookmaker to help him to balance his action, and reduce his risk, on a horse, contestant or team.
Limit - the maximum wager accepted by the house, or bookmaker before the odds, points or price will be changed. In a sense it is a cap on the amount the player will be allowed to wager.
Line - refers to the listed odds, points, money line or point spread for any given event.
Linemaker - the person who establishes the original and subsequent betting lines for an event.
Listed Pitcher (LP) - the pitcher, or pitchers, listed by the Las Vegas oddsmakers as probable starting pitchers for a scheduled baseball game.
Lock - an easy winner, or a clear no lose situation.
Longshot - an extreme underdog.
Middle(s) - to win both sides of the same betting proposition. Placing a wager on the favorite team at -2 1/2 with one bookmaker, then taking +3 1/2 with another bookmaker. When the game ends up with the favorite winning by exactly 3 points, the player has middled the game. Middling is a favorite betting method of wise guys.
Middler - a player who tends to middle his/her bets.
MLB - an abbreviation for Major League Baseball.
Money Line - the amount the player must wager to win $100.00, or the amount the player wins on a wager of $100.00. No handicap is given, such as a point spread or run line. The team wagered on just has to win the game. Payoffs are based on true odds rather than fixed odds. The amount the player lays or takes may vary each time.
MVP - an abbreviation for Most Valuable Player. The leagues give MVP awards to the best of the regular-season, and to the outstanding player in championship games or series.
NBA - an abbreviation for National Basketball Association.
NCAA - an abbreviation for National Collegiate Athletic Association.
Neutral Site - an arena, a court, ring, rink or field where neither side has a home field advantage.
Newspaper Line - the lines which appear in various daily newspapers. These lines are only approximate and can be downright inaccurate and misleading.
NFL - an abbreviation for National Football League.
NHL - an abbreviation for National Hockey League.
Nickel - a $500.00 wager.
NIT - an abbreviation for National Invitational Tournament.
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