Betting Terms


Nickel:

$500 bet


Dime:

$1000 bet


50 cents:

$50 bet


Dollar:

$100 bet


Chalk player:

A bettor that almost always bets on favorites


ATS:

Against the Spread (a bet involving the point spread)


SU: Straight up

(the outright winner of a game, regardless of point spread. Moneyline bets rely on who wins a game straight up not ATS.


Covering:

To cover the spread is when you win your bet against the point spread. You may have the Falcons +3.5 over the Panthers. Carolina wins the game straight up 23-20, but the Falcons cover thanks to receiving the points as an underdog.


Buying points:

Most sportsbooks will allow you to buy a ½ point or more on individual games. Say the Rams are favored by 3.5 over the 49ers but youre worried Los Angeles might win by just 3, so you buy the hook down to -3. The sportsbook will charge you a higher rate of juice (or vig). Instead of the standard -110 you may have to pay -125 (or more) to buy the ½ point down to 3, but if the Rams win by exactly 3 you bought yourself a push instead of losing at -3. Knowing if and when to buy points is a critical aspect of sports wagering that Wagerpro can assist you with. Many recreational bettors needlessly buy points in situations that dont mathematically call for it.


Hedge bet:

Hedging a bet is betting the opposite side of your original pick to ensure a profit. While many recreational sports bettors think it might be wimpy or stupid to hedge your bets, professional wagerers use this technique often when the time calls for it. Lets say you did a 4-team NFL parlay for $100 to win $1000. The first 3 games all came in for you on Sunday and the last leg is the Jets +8 on Monday Night Football. Normally you bet $100 to $200 per game, but now all of a sudden the Jets game is worth $1000 to you. It doesnt make sense for a small bettor to let that much profit goto risk on a single game, so in this case we will do a hedge bet to guarantee a profit. A Wagerpro rep may advise you to put $440 (to win $400) on the Jaguars -8 in that MNF game against the Jets. This ensures you make money either way. If the Jets end up covering the +8, you win your parlay ($1000 profit) minus the $440 hedge bet and still come out $560 ahead. If the Jaguars crush the Jets, you lose your $100 parlay investment but you make $400 on the hedge bet and still come out $300 ahead. Hedge bets are an important weapon to have at your disposal when the right situation comes up and Wagerpro will help you understand exactly when that time is.


Dime Line in baseball:

A dime line means there is a standard 10-cent (or 10 percent) gap between the favorite and the underdog prices. If the Cardinals are a -145 favorite over the Nationals, the Nats would be priced at +135 (a 10-cent gap) on the dime line. In general a dime line is a good price too look for when finding a baseball sportsbooks. You want to avoid books that put a 20-cent gap (Cards -145/Nats only +125) or more in their prices.


Prop bet:

A prop bet or proposition bet is a fun bet that varies from the usual point spread, over/under or moneyline bets. Prop bets garner a lot of attention during the Super Bowl when you can bet something like whether the coin toss result bet Heads or Tails. While many prop bets are whimsical and should only be used for small entertainment wagers, there are some that have great value and can be used to make a nice profit. Monday Night Football games often offer a lot of prop bets such as Russell Wilson over/under 1.5 touchdown passes. Wagerpro takes a look at all of these options and will often find a gem or two worth hammering for real profitability.


Betting a middle:

See the Hedge Bet explanation above when thinking of a middle. Lets say we had the Jets +8 locked in early in the week against the Jaguars for the Monday Night football game. But as the week went on, the Jags lost several key starters due to injury and the line has moved to Jacksonville -6. We now have a golden opportunity to go for a middle. We already have money on Jets +8 and now we can come back with a play on the Jags -6. If the game happens to land with Jacksonville winning by exactly 7 we hit the middle and cash BOTH bets! Even if the final margin is 6 or 8 we get a win-push profitable scenario. The worst you can do when betting middles is split the bets and lose a small bit of juice or vig. As always, your Wagerpro rep will help you decide when to take a shot on a middle.


Pickem or Pick:

A game is said to be a pickem when the point spread is literally 0. When the Seahawks played the Patriots in the Super Bowl a few years back, the betting public was so split on who would win the sportsbooks posted the line as a dead-even pickem. In this case, there is no point spread, its just a matter of which team wins the game.


Sports handicapper:

A professional who wagers on sports full-time. A good handicapper uses a variety of methods to pick his games, constantly researching and analyzing current and historical data while factoring in all key categories such as line movement, injuries, motivation, home field, weather and much much more.


Line value:

A pro handicapper can often identify when the public is over-betting one side of a given game thus creating line value for the other side. If the Yankees open as -220 favorites over the Royals and are suddenly bet up to -275 by overeager bettors, the line value for the Royals can increase enough to make them worth a shot mathematically. Failure to identify which sides have line value is a huge downfall of many recreational bettors. Wagerpro makes money year after year by playing the games with the best line value.


Sharp money:

Money coming into a sportsbook from a well-respected gambler or group. Sportsbook managers will often adjust their lines if sharp money is showing up on one side, whereas a public bet may not warrant movement even for the same dollar amount.


Juice or vig:

The vigorish — also known as vig or juice — is the price sportsbooks charge for making a bet. The most common vig used for each side of a wager is -110. That means for every $11 wagered the bettor can win $10. The house makes its profit by attracting even money on both sides of a game thanks to the Vig. Say Mike bets $110 to win $100 on the Giants +3, while Tim like the Cowboys -3 and also puts up $110 to win $100. The sports book collects a total of $220 from the bets but will only have to payout $210 to the winner ($110 stake plus $100 profit). The $10 vig goes to the house every single time.