People who have been successful in betting on sports for a long time often try to convince newbies or beginners that it is simple. Some experienced sports gamblers might say that you can get in on the action by placing a minimum of 10%. Then the bookie will receive the opening line from Vegas. However, the oddsmaker may move the line to protect the vig. You’ll also want to be attentive to the spread. This is basically a handicap that sportsbooks use for increased game competition from your point of view. It also affects your overall handle. What? What?
BETTING VOCABULARY YOU MUST KNOW
Action: All types of betting activities, including sports betting.
Bankroll: The total amount you are willing shbet to risk on all your sports bets.
Bookie: A person who accepts and processes wagers.
Handicap is a term used in sports betting to refer to a strategy that gives one team or opponent an advantage or score. This is done to try to level the playing field. Handicapping refers to the art of predicating the outcome of a competition, such as betting against the spread. The game is won by the favored team if they win less than the point spread, but all other bets against them would be lost.
Handle: The sum of all bets placed on a specific sporting event.
Juice: A charge made by a bookie for their services. It is the same as profit and vig.
Money Line: This is a handicapping tool that can be used in low-scoring sports such as baseball, ice hockey and soccer instead of point spreads.
Oddsmaker: People who study and research sport and make the money.
Sportsbook: An organization that accepts and processes wagers.
Spread: Also known as the “point spread”, this handicap is used in high-scoring sports like basketball and football to make matches and games more competitive from the perspective of bettors.
Vig: A percentage of all bets the sportsbook or bookie makes as profit. This includes commissions on losing bets and charges for bets placed by casinos or other gambling establishments. [Origin] Short for “Vigorish”, derived from the Yiddish term “Vyigrish”, which refers to Russian “winnings”.
Although the above sports betting vocabulary list can be used to get you started, it is only a “tip of an iceberg” when it comes to how to make money betting on sporting events. I trust you found this useful.