Sports betting is the betting activity that allows you to bet on various sports matches. You will need to predict the outcome of each match and bet on it. You will earn money if you are betting on the right outcome, and you will lose your money to the bookmaker if you bet on the wrong outcome. Here are 3 sports betting terms every bettor must know:
- Buck, Dime, Nickel and Dollar
The first set of sports betting terms you need to know include Buck, Dime, Nickel, and Dollar. These are the terms that determine the value of bets you are placing on a specific game. Buck means you are placing a $100 bet. Dime means you are placing a $1,000 bet. Nickel means you are placing a $500 bet. Dollar means you are placing a $100 bet.
These are the terms you need to know, as you often see it on sports betting websites or apps. Also, there is the term Book or Sportsbook, which determines the place you are placing your bet on. It can be an offline betting venue or an online betting site.
- Even, Bad Beat, Favorite and Edge
The next set of betting terms you need to know include Edge, Bad Beat, Favorite and Even. What is Even or Even Money? Even is the term you will use when you bet $100 to win $100. You will call this Even or Even Money. It’s the bet that gives no profit to you. Next, you will need to know about the term Bad Beat. What is Bad Beat? Bad Beat is the term you will use when the one placing bet looks like he is having an advantage or he is about to win, but he doesn’t. It is when you place a bet, almost win in your bet, and then end up losing.
Then, what is the term Favorite? The term favorite in sports betting means the team you favor in your bet, and you hope this team will win the match. What is Edge? The term Edge in betting means that the one placing bet has an advantage even before he places his bet. The advantage can be anything based on various factors.
- Limit, No Action, Off the Board and Parlay
The third set of betting terms includes Limit, No Action, Off the Board, and Parlay. What is Limit? Limit means the maximum amount of wager you can place on a single bet. You can’t put a wager exceeding the Limit. What is No Action? No Action happens when a game can no longer take any bet, and all wagers will get refunded if this is the case.
Off the Board means a game that you can’t put any wager on. It means the game is off the board for you and you can take part in it. Parlay is the term for a bet that combines various games in it. You can use Parlay if you want to maximize the amount of earnings you could make, while also maximizing your risks.
You need to understand these sports betting terms if you want to take part in online sports betting activities. The more you keep these terms in mind, the more you will feel familiar with the sports betting activities you are taking part in.