Sports Betting Terminology

Dec 12, 2012Download as PPTX, PDF1 like746 views

In order to be a successful sports bettor, it is necessary to understand the terminology. Jeffrey Keim, of Oskeim Sports Consulting, LLC shares some of the lingo.

Sports Betting Terminology
In order to be a successful sports bettor,
it is necessary to understand the
terminology. Jeffrey Keim, of Oskeim
Sports Consulting, LLC shares some of
the lingo.

Sports Betting Terminology
 Beard, mule: someone who places bets for someone else with that person’s
money
 Bettor: an individual who makes wagers
 Bookie: a person who accepts bets
 Dime bet: $1000 bet
 Dollar: $100 bet
 Even money: risking a dollar to win a dollar
 Fan: someone who places a bet because they like the team
 Field: the group of all entrants not listed with their own odds (This is used in
sports with a large number of entries, such as golf or horse racing.)
 Handicap: studying and researching sports to predict the results of upcoming
games
 Juice, vig, vigorish: the built-in edge over betters for the sportsbook
 Line: the spread and terms of a bet
 Moneyline: the odds of a team winning a game
 Nickel bet: $500 bet
 Points, point spread, spread: a number set by a sportsbook to allow betting at
10:11 on each of two teams

Sports Betting Terminology
There are many other terms used in
sports betting, but these will give you
the basic knowledge you need to begin
betting with success.
Jeff Keim is the President and CEO of Oskeim Sports Consulting, LLC.

Expected value is a calculation used to determine whether a gamble or risky situation is favorable based on the probabilities and payouts of potential outcomes. The expected value equals the sum of the probability of each possible outcome multiplied by its payout. For the game described, where you pay $3 to pick a card to win $10 if you pick the Ace of Clubs, the expected value calculation would be needed to determine if the game is financially worthwhile based on the probability of winning versus the costs.

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Sports Betting Terminology

1. Sports Betting Terminology

2. Sports Betting Terminology In order to be a successful sports bettor, it is necessary to understand the terminology. Jeffrey Keim, of Oskeim Sports Consulting, LLC shares some of the lingo.

3. Sports Betting Terminology  Beard, mule: someone who places bets for someone else with that person’s money  Bettor: an individual who makes wagers  Bookie: a person who accepts bets  Dime bet: $1000 bet  Dollar: $100 bet  Even money: risking a dollar to win a dollar  Fan: someone who places a bet because they like the team  Field: the group of all entrants not listed with their own odds (This is used in sports with a large number of entries, such as golf or horse racing.)  Handicap: studying and researching sports to predict the results of upcoming games  Juice, vig, vigorish: the built-in edge over betters for the sportsbook  Line: the spread and terms of a bet  Moneyline: the odds of a team winning a game  Nickel bet: $500 bet  Points, point spread, spread: a number set by a sportsbook to allow betting at 10:11 on each of two teams

4. Sports Betting Terminology There are many other terms used in sports betting, but these will give you the basic knowledge you need to begin betting with success. Jeff Keim is the President and CEO of Oskeim Sports Consulting, LLC.

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Sports Betting Terminology

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