For someone who is new to the world of online betting, some of the terms of the betting terminology which are bandied by the hardened pros will seem alien to you. If you are one of them, then you should work on getting yourself acquainted with those terms. They are used more often than you think. It is important that you understand the meaning of those terms when they are used so that your wagers are placed right. Misinterpreting them can be disastrous! You will become familiar with the latest terms if you involve yourself in betting forums and discussions. This article will not give you all of them. It will introduce you only to a few popularly used terms.
Some common terms
Betting terminology is not that far from the terms that are used in the real world. Some of them can be related to the betting world easily with some common sense. For example, ‘a wager’ refers to the amount that is bet on something. Any kind of betting is called ‘action’. ‘A beard’, refers to a person who lays a false bet to conceal the identity of the real better. ‘A chalk’, is the favourite for that day or the one on who most bets are likely to be placed on. ‘A dog’, is used to refer to someone who is the underdog.
‘Edge’ is used to point to an advantage someone might have. ‘Form’, refers to the current performance of a team or a player. ‘A handicapper’ is a person who studies the sport and rates the bet. ‘Lay’ is the term used when placing a bet. ‘Lock’ is the term used when you are mentioning about a guaranteed winner. When the bet placed does not win or lose any money, it is called as ‘no action’. ‘Odds’ are used to mention the price. The opposite of a favourite is called ‘the outsider’. ‘A punter’ is someone who lays the bets. A popular or good handicapper is called ‘the wise guy’. These are some of the commonly used elements of betting terminology.
Betting specific terminology
There are some terms which can even confound a relatively experienced punter. Do not use your commonsense in interpreting these. You will definitely end up on the wrong side!
Asian handicap: A type of betting that is common in the Asian region; it involves complex terminologies where there is a mix of bets placed on the match. This is commonly used in football betting.
Canadian: It is also called ‘A Super Yankee’. It consists of 26 bets involving 5 selections in different events.
Monkey and Pony: Bookies use it to refer to 500 pounds and 25 pounds respectively.
Lucky 15: It involves 15 bets in 4 different selections.
Hedging: In this, a bet is placed on the other outcome of the punter’s original choice so that winnings or losses are guaranteed.
Heinz: 57 bets which involve 5 different selections in different events are called together as Heinz.
Although all this betting terminology seems too easy and complicated at the same time, you will get acquainted with them with time as they are regularly used. It will not only ensure that you hold your own against seasoned punters but also make you aware of the different types of bets available.