Listed below are terms (glossary, definitions) related to sports betting.

Juice: (or Vigorish) is the sportsbooks commission on a losing bet, often referred to as 11/10.

Favorite sets: It’s when a bookmaker can’t determine who is the underdog and the favorite because both teams seem to have an equal chance of winning.

cheerful: is the favorite Example sentence: The Australian NRL Club West Tigers are the favorites for the NRL Grand Final.

Long odds: they are odds of 10 to 1 or better.

Placement Points: is when a bettor gives up points and backs the favourite.

Close with key: means a guaranteed winner, a sure thing. Example Sentence: My brother Glen made a serious rookie mistake thinking he had a lock, a sure winner in a promising boxing match, he made a $2000 bet and lost it all, what was worse, he went and got it. told everyone else. he was a lock, other people probably lost money due to bad advice from him.

Placement price: It is betting on the favorite and betting for money.

Lay off: This is when a sportsbook places money with another sportsbook to reduce its risk.

limit: in sports betting this is the maximum bet you can make before the bookmaker adjusts the odds.

Line: current points/odds spread in a sports match.

Line Creator: a person working in a sports betting establishment who sets the betting line for a match.

LBO: is the acronym licensed betting office which is region specific and generally only used in the UK.

Long throw: is when you place a bet on a team that is not likely to win. Example Sentence: Sometimes I like to bet on the long odds because the long odds pay a lot more and I’m a sucker for underdogs.

To enlarge: This is when the odds of a particular outcome in a sports match increase and therefore pay out more as a result.