Like anything else, sports betting can sometimes seem complicated at first look. But knowing the lingo behind the jargon is an excellent way to start to learn what other bettors (sports betting gamblers) are talking about, too. Study this popular sports betting glossary in order to further advance your understanding and knowledge about betting on sports. Let’s take a look at some of the most important terms used in this field of endeavor.
In order to place your bets, you’ll need to know a few things about the game you are betting on. Gambling is simply the act of buying or betting on the outcome of a game, using a set amount or value of money as a wager. There are two types of bets in sports gambling, wagers on events (or games) and wagers on combinations of events. Combination wagers are a mixture of two or more events that may be placed in a single sports bet. The value of a combination bet can change from one game to the next. Example: If a bet on MBL basketball resulted in a win, it can then be re-sized to cover another upcoming basketball game.
A “low” selection is simply any bet on an event that has a low likelihood of winning. For example, if you were placing a bet on the Heat taking on the defending NBA champs in an Eastern Conference series, your “low selection” would be the Heat taking on the Pistons. On the other hand, a “high” selection is any bet on an event that has a very high likelihood of winning. For example, if you were betting on the Heat taking on the defending NBA champs in an Eastern Conference series, your “high selection” would be the Heat taking on the Warriors. To determine your “high selection,” add together the odds of both teams, then divide them by the total number of games in the series.
Another word associated with sports wagering is “close” or “tied.” These terms generally refer to bets that are within a few points of the final line, but are not necessarily close enough to affect the overall outcome of the bet. For instance, a team may have a very low odds of winning their next game, but still be able to win their last game. In this case, it would be considered a “close” bet.
An accumulator is another word commonly used to describe sports wagers. An accumulator is simply the person who completes the entire wager, as well as the bet itself. Anyone can complete an accumulator. Typically, people will purchase a specific amount of tickets for each game in a series, and then will bet the total amount of tickets purchased plus the total amount of the premiums on those tickets, plus the total amount of money wagered on the entire bet. Premiums are what all wagers are based on.
The final word that describes the betting process is “betting,” which means to place a bet on an event. Online sites offer many different betting options, including sports bettors. However, all online betting processes will follow the same general format, which includes placing the bet, taking the win into account, adding the odds to the total, and finally subtracting the total from the odds to determine the final bet. Anytime that a bet is placed and the total exceeds the predetermined amount, the bet will be called “called off.” A bettor may, however, add the odds to the total to make a “better” bet, so long as they do not exceed the predetermined amount.