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What Does it mean? Doc's Sports How-To Sports Betting Library

Be sure to read our Sports Betting Terms Explained.

sportsbook layout


by Doc's Sports - 10/11/2014

The sports betting term "sportsbook" refers to a company, or even just a single person, who accepts bets on sports. They will take your bets and pay you if you win. They take a commission on winning bets. More formally, sportsbooks can be known as race and sports books. In Europe and elsewhere they are known as bookmakers, which can be shortened to bookies. In North America we'll frequently refer to sportsbooks as just books.

square man


by Doc's Sports - 10/11/2014

In order to become one of the heavy hitters in the sports betting industry, you must start out at the bottom and work your way up, earning respect and tailoring your betting methods along the way. Once you become established and can prove a solid winning percentage to your peers, you can shake the moniker of being called a "square" and graduate to a "sharp." However, this switch doesn't come easy. Everyone thinks they can be the next best gambler, but in reality they are all just "squares" betting high-priced favorites and playing four or five-team parlays.

steam


by Doc's Sports - 10/11/2014

In sports betting, blindly tailing a sharp or betting syndicate may seem like a great idea since they are perceived to "know what they are doing." However, doing so is usually a solid way to drain your bankroll since you do not have key pieces of information as to why they are doing it. A "steam move" is something sharps and betting syndicates use for a number of reasons, including profit and to create a new line to bet into. As a new bettor, you never wanted to be fooled by a false "steam move" and find yourself on the wrong side of a game.

Denver Broncos QB Peyton Manning


by Doc's Sports - 10/11/2014

If you're looking for a get-rich quick scheme, you are most certainly reading the wrong article. Betting favorites is not for those who lack patience and enjoy slowly building their bankroll. While betting favorites may ensure a very high winning percentage, the return on your investments will be laughable. Not to mention, betting favorites on the money line makes bankroll management a daunting task since one or two losses in a row could see you lose hundreds of dollars in a short period of time. However, if you are still inclined to bet on the favorites, this article will help you understand what you are getting yourself into.

Green Bay Packers quarterback Aaron Rodgers


by Doc's Sports - 10/11/2014

Sports betting has grown exponentially over the last 15-20 years with more betting options available now than ever before. I believe that the amount of information available and how easily accessible that information is has a lot to do the boom in sports betting. While the serious bettors still prefer the simple/straightforward kind of bets - money line, point spread, totals - the general public has grown fond of the prop bet opportunities. Prop bets offer up a quick win or loss which feeds right into society's terrible attention span. These bets are also known as exotic bets, which means they are bets that bettors wouldn't ordinarily think to make.

Garrett Gomez riding Lookin At Lucky


by Doc's Sports - 10/11/2014

To understand an exacta wheel we need to start with a refresher on what an exacta is. It is one of the simplest kinds of exotic bets available in horse racing - only the quinella is simpler. What you have to do is pick the horses that are going to finish first and second in a race, and pick them in the correct order. An exacta can also be known as an exactor, perfecta or forecast bet.

Calvin Borel aboard Rachel Alexandra in the 2009 Preakness.


by Doc's Sports - 10/11/2014

An exacta is one of the simplest of the exotic bets available at the horse races. It is a bet in which you have to correctly pick the top two finishers in a race, and correctly pick the order in which they can finish. The only exotic bet that is simpler is the quinella - when you pick the top two horses but don't have to worry about the order. Though exacta is the most common name for this type of bet, it can also be known depending upon where you are as the exactor, perfecta, or even as a forecast bet. All different names for the same thing.

Jockey Edgar Prado.


by Doc's Sports - 10/11/2014

To understand what an exacta box is, we have to start by understanding an exacta. That is an exotic bet in which you have to pick the horses that will finish first and second in a race. To win you have to also correctly pick the order in which they will finish. It's one of the simpler exotic bets available to bettors.

Equal Sign


by Doc's Sports - 10/11/2014

There are two absolute guarantees in life and while we all know the first one, taxes are probably the one we complain about the most. Everything has a tax (depending your state) and unfortunately there is nothing really that can be done about it. In the sports betting industry, there is a form of tax sportsbooks use called "juice" or "vig". This is to ensure that the sportsbooks turn a profit regardless of the outcome of a particular game. However, sometimes the sportsbooks feel generous enough to offer up a "tax-free" line. This line is known as "even money" and offers up a chance to double your money - no questions asked.

two one dollar bills


by Doc's Sports - 10/11/2014

We live in a society where greed and the desire to make as much money as possible is the new norm. In the sports betting industry, it is no different. Bettors are very rarely satisfied with a modest 1-0 or 2-0 day, while profiting a small amount. Instead, we have terms like "double bet" where bettors decide to risk more than they normal would on a single bet and try to increase the bankroll with one big payout. If they are successful in doing so, great. If not, the bankroll suffers a major hit and it'll be much harder to make up the lost money. This is why bettors should tread carefully when thinking about making a "double bet".

wise guy


by Doc's Sports - 10/11/2014

Without getting to philosophical or anything, the world will always have leaders and followers. It's just human nature. Some people are born to go against the grain and question the status quo while most are content with just floating downstream to avoid rocking the boat. In the sports betting industry, it is no different. The leaders are the ones making smart bets and getting the sportsbooks to react to their action, while the followers are usually mixed in with the general betting public and stuck betting on favorites with terrible lines and odds. In the sports betting industry, we call the aforementioned leaders "wise guys" and we call the followers squares.

whale


by Doc's Sports - 10/11/2014

One would think that if a gambler had an endless supply of money to bet with and constantly wagers five or six figures per game, they would have a nickname that sounds a bit more appealing. Instead, these walking ATM's have the dubious distinction of being called a "whale". I guess when you are rich, it doesn't matter what your nickname is, but I have to believe there are about 20 other nicknames that would be more appropriate for someone who drops $100,000 on a game and doesn't even think twice about it.

sportsbook


by Doc's Sports - 10/11/2014

Don't over think this one. A wager is just a slightly fancier way of saying the word bet. Nothing more, nothing less. When you wager on something, you are always risking a certain amount of money - or anything else for that matter (i.e. case of beer) - on the outcome of an game or event that hasn't yet happened.

Dollar Sign


by Doc's Sports - 10/11/2014

If you've ever been to a store during one of their huge "sales" you are often times looking to buy products at a discounted price. Buying at a discounted price not only saves you money, but it gives buyers a chance to feel like they got plenty of value for the money they spent. The same can be said in the sports betting world. Value is one of those things that bettors chase and live for. If they see value in a certain play, they are absolutely going to play it. If not, they may wait until another opportunity with the same value presents itself - much like waiting for something to go on sale again at a different store.

robin bird


by Doc's Sports - 10/11/2014

I am probably just speaking from experience, but I can also guarantee you that I am not alone in saying the worst feeling in sports betting is losing a massive parlay by one team. That losing team is usually the last team you put in and are just not quite sure about them, but you do it anyways for the potential of a nice juicy payout. If only there was a way to cash in on all the hard work and research that went into picking the other five winning teams. This is a prime example of when you need to know about the round robin bet and how to place one so that your time and effort doesn't go unrewarded.

circle chalk


by Doc's Sports - 10/11/2014

We've all been in a situation before where we've debated with ourselves whether or not we should bet a specific game. The reasons for doing so could range from the uncertainty of a key players health, a travel delay, the weather in an outdoor game or perhaps even the absence of a coach.

bookmaker


by Doc's Sports - 10/11/2014

The term "bookmaker" is a more formal term for the commonly used slang term bookie. Though bookie can have a shady, illegal connotation, that isn't always the case. The word bookmaker, which is more common in the UK can than the US, can be used interchangeably with sportsbook, or the shortened form of book. A bookmaker simply take bets on sports, and guarantees a return at agreed upon odds if the bet is successful.

nickel


by Doc's Sports - 10/11/2014

It today's world, the English language has taken a back seat to slang. Whether it be on social media, instant messaging platforms, through text or email, every body is using some sort of slang which saves them the slightest bit of time and makes them sound like a goof. In sports betting, it is no different. There is a short form for pretty much anything you can think of including the currency used to place a bet.

hot twins


by Doc's Sports - 10/11/2014

In today's world, convenience is king. Being able to do something without having to exert any extra time or energy is how most millennials live their life. However, being a successful handicapper is far from convenient. The amount of time and energy all great handicappers put can't be measured because it never stops. They are always looking for their next move and always looking for the right opportunity to maximize their profit. The "double action" betting option offers some semblance of convenience. This is a great bet if you know you are going to be away from the sportsbook or computer for a time period and can't get your bets in.

hound dog


by Doc's Sports - 10/11/2014

Sometimes people are lazy. The term "dog" in sports betting is for people who don't want to spend the time and effort required to say the entire word underdog. If you really want to change things up, an underdog can also be referred to as a puppy. Simply, the underdog is the team or individual that is determined - first by linemakers and then by the betting public - to be less likely to win a game.

stack of 100s


by Doc's Sports - 10/11/2014

If I was to get rich over night, it would take every ounce of energy I have to not flaunt my new house, car, boat, and any other shiny new toy I could buy. However, I know for a fact that nobody would care about what I do with my riches. Some of the richest people in the world wear the same clothing and try to live a relatively low-key life (minus the body guards). If you are a "dime" bettor, you might have the money to back up the life style, but flaunting your big-bet ability will only turn people against you.

dime


by Doc's Sports - 10/11/2014

If you want to become a serious handicapper, the very first rule you need to live by is bankroll management. Bankroll management mean several different things including sticking to a standard size bet whether that be $10, $25, or $100 or never play more than two percent of your entire bankroll on any game, unless you are absolutely certain the value is worth the risk. But in my opinion, the most important rule of bankroll management finding the best lines available. Don't be sucked in to betting a -120 line, when there are -110's available to be had. The line of -110 is what we call a "dime line" and is the most common line found while betting the point spread option.

miner


by Doc's Sports - 10/11/2014

This may be the most scientific part of the sports betting industry and most bettors don't know that this is a thing even that exists. Most bettors continuously look forward and only bet on the upcoming games with very little regard with any prior happenings. The smart bettors know that looking at past games can prove profitable forfuture betting opportunities. This is called "data mining" and while it may not be an easy process, it is important to do every now and then.

jump for joy


by Doc's Sports - 10/11/2014

There are two types of bettors in the sports betting industry and each of them has their own unique way of doing things. Some bettors strictly bet money lines. They say that the winner of the game should be the only thing that matters. However, the majority of the betting industry lives and breathes with betting the point spread on NFL and NBA games. They will tell you there is nothing sweeter than cashing a winning point spread ticket because they were able to "beat the Vegas line". That's probably a bit of an exaggeration, but watching your team cover the spread does feel nice.

sportsbook layout


by Doc's Sports - 10/11/2014

When it comes to the betting industry and the lines set by linemakers, the early birds really do get the worm. The opening line is the purest line you will find which makes the "closing line" the end result of the betting action. Typically, the closing line has no real impact on a sportsbook, since very few bettors will actually be able to bet into that line.

Kentucky Derby Winner Mine That Bird.


by Doc's Sports - 10/11/2014

In horse racing, when you buy the rack you buy every possible combination of a daily double or similar bet. A daily double is when you have to pick the winners of two races in a row - typically the first two races of the day. So, if there were eight horses in each of the first two races of a card, then to buy the rack you would buy 64 different combinations of bets.

bank teller


by Doc's Sports - 10/11/2014

It doesn't matter whether you are a novice bettor just learning the ropes or a serious bettor who has been in the industry for 20+ years, losing a bet by half a point is the most frustrating way to lose. Depending who you talk to, some say that if your bet loses by half a point, it is the bettors fault for not buying points and moving the line. By buying points, you are helping yourself get the best number possible, especially when you are moving the line through key numbers in football or basketball. Doing this can turn a push or loss into a win more often than you can imagine.

hundred dollar bill


by Doc's Sports - 10/11/2014

It today's world, the English language has taken a back seat to slang. Whether it be on social media, instant messaging platforms, through text or email, every body is using some sort of slang which saves them the slightest bit of time and makes them sound like a goof. In sports betting, it is no different. There is a short form for pretty much anything you can think of including the currency used to place a bet.

money bags


by Doc's Sports - 10/11/2014

The sports betting term "sharp" is more than just a word to describe a person who refers to themselves as a professional bettor. It is what all rookie bettors aspire to become and it's a sort of philosophy of betting that rookie bettors try to incorporate into their betting mentality. People who are considered "sharps" are typically ghosts in the sense that they make their plays without attracting any attention to themselves.

open hands


by Doc's Sports - 10/11/2014

There are very few things in this world worse than making plans with someone, getting excited about going out and then having them cancel on you at the last possible minute. This happens to everyone and in sports betting the same thing happens but in a different context. Imagine this - you get the rundown of the night's action and find a game that really sticks out to you. You dig a little deeper and start loving the opportunity. You can't contain your excitement and place your bet. You get yourself ready to watch the action unfold only to find out its raining and the game just got cancelled and moved to tomorrow. Your bet is now graded "no action" and you have no idea what that even means. Talk about a major disappointment.

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