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Seasoned punters will find calculating odds to be second nature but for beginners the prospect of getting to grips with what odds mean and in particular grappling with fractional odds can be a daunting one. Even if you're an experienced punter this Masterclass on understanding odds offers you the chance to refresh your thinking on identifying value based on the implied probability of odds. Traditionally, odds in the UK are expressed as a fraction. These odds can be used to calculate your net profit excluding your stake and although they seem complicated the method of calculation is relatively straightforward. This is best explained using an example. So whatever your stake is you can multiply it by 1.

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Monkey betting terms dime

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Bet: term for a wager on a casino game. Betting Limits: set by the casino, the minimum and maximum monies that players can bet. Bug : slang for the Joker card. Buy-in: monies converted to casino chips before playing casino games. Cage: refers to the location of the friendly casino cashiers.

Capping : cheating at the tables by placing additional chips on top of the original bet once the game round has begun. Card Sharp: expert card player, found at the money games like poker, blackjack and baccarat. Carpet Joints : casino terms referring to 5 star luxury casinos. May you visit often. Casino: origin of the word refers to a public music and dance hall. Casino Advantage: casino or house edge when playing the games, usually reported as a percentage.

Example: the casino advantage for double-zero roulette is 5. Chase: after losing, casino players will attempt to get back monies with additional bets. Cheques: the historical, correct term used in reference to playing chips. Chips : round discs with designated currency denominations and colors that are played instead of real money. Obvious tip here--they are real money! Chip Tray: holds the chips stock placed nearby the dealer—another case of real money.

Cold: term for a player, craps table or slot machine that is no longer on a winning streak. Coloring Up: when you take those five-dollar chips and exchange for larger denominations, possibly hundred-dollar chips, then you are coloring-up. Comp: as in freebie or points, these are the dining, beverage, hotel rooms and benefits received by casino players based on their wagering and time played. See listing of US Mega club cards for several properties under letter U in this casino terms glossary.

Cracking the Nut: casino lingo for a net profit after all gambling expenses deducted. Credits : 1 credit is equal to 1 cash unit. Crossfire: the dealers chatting it up about everything else but the live game in front of them. Croupier : it is French, mon ami, for the dealer of the gaming table. Dirty Money: the losing bets gathered by the dealer. Game examples are Baccarat, Blackjack and Poker. Double or Nothing: wager that pays out the original bet or even-money. Down to the Felt : busted or broke in casino terms.

Drop: amount of monies lost by players or casinos. Drop Box: located at a gaming table, it holds all cash, markers and chips. Edge: advantage over the casino or other player. Eighty-Six or you are outta there, man. Eye in the Sky : watches the action as the casino staff surveys the floor. Face Cards : casino jargon for kings, queens or jacks.

Firing: casino lingo for betting large amounts at money games. Fish: losing player. Flat Betting: a method of betting wherein the player bets the same amount each time, neither raising nor lowering. Not known as a wise strategy. Flea: irritating player who has high expectations for casino comps and benefits while not deserved. Foreign: these are cheques from another casino. Grind: this term is used for playing it out on a consistent basis at the tables.

Handicapper: player who does the research beforehand to make knowledgeable bets. This data includes statistics, news, weather and injuries at sportsbetting. Fade: To fade means to bet against, particularly when referring to betting against a person. Heater: A heater is a series of events in any game of chance occurring within a short, concise time frame, and resulting in a positive outcome for the player involved.

Handle: In sports betting lingo, the term handle is often used by the bookmakers to describe the total amount of money wagered over a specific period of time. Hedge: In online sports betting, to hedge means to make a bet or a series of bets that take the opposite site of your original position in order to reduce the risk involved or lock in some profit. Juice: Juice , also referred to as vigorish, vig, the take or the cut, is the amount charged by a live bookmaker or a sports betting site for its services.

Kitty: In home poker games, a kitty is a pool of money that has been built by collecting small, predetermined amounts from specific pots or even every single pot. Marker: Casino and card room markers are special credits that allow players to receive easy access to large amounts of money on the spot. Middle: In sports betting, playing the middle means placing two bets on opposite teams or totals with advantageous point spreads or lines, usually at different sports books.

Moose: In sports betting, a moose is simply the equivalent of a poker bad beat — a bet that goes horribly wrong despite the fact that everything was progressing just as planned and the punter seemed to have the odds going in his favor. Mush: To mush means to create bad luck for others in gambling situations.

Over Under: In sports betting, an over under bet refers to a wager in which the sports book predicts a number for a statistic in the game in question, and the bettors have to wager whether the actual result will exceed that prediction or end up being lower. Parlay: In sports betting, a parlay , also known as an accumulator, is a combo wager that links together two or more individual bets.

Press: In gambling, particularly in sports betting, to press means to bet a larger amount than usual or to double up. Push: In poker and other competitive gambling games, to push means to go all in. Shark: A card shark is an expert card player whose skills enable him to take advantage of weaker players.

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When betting the money line or moneyline , the favorite will be designated with a minus sign next to the number. The higher the number, the greater the odds the favorite has to win, but the lower the payout. The underdog will be designated with a plus sign next to the number. The higher the number, the lower the odds the underdog has to pull off an upset, but the larger the payout will be should the upset occur.

Off the Board : When a sportsbook or sports betting operating removes a wager from its offering and is no longer taking bets on the event. Oftentimes, an operator will take a bet off the book when deciding to change the odds. Leaving the bet up could expose the oddsmaker to increased risk.

Opening Line or Open : The initial point spread or betting line on a game or competition. Parlay : A wager that includes multiple bets within one greater bet. To win, a bettor must hit all the individual bets. Point Spread : The point spread is how teams or sides are handicapped against one another. For more on point spread betting, click here. Prop Bet or Proposition Bet : A prop bet, short for proposition bet, is a type of side bet that is placed on something not determined by the final outcome of a game, such as a specific statistic for a given player.

Instead of altering the points given, bookmakers will adjust the odds on these lines. Reverse Line Movement : When a line moves opposite of the betting percentages, or opposite the public. Round Robin : A wager that allows a bettor to place multiple parlay wagers within a single bet.

Sharp : A professional sports bettor or a bettor deemed to have an enhanced advantage. Square : A casual, hobby sports bettor. Not a professional and considered to be just a member of the general public. Straight Bet : A bet that is made without using a point spread. In other words, another way to classify a money line bet. Take the Points : The opposite of laying the points, taking the points means a bettor is receiving points from the other side.

Betting the underdog. Teaser : A bet that allows the bettor to adjust the point spread by adding or subtracting points. The adjustment comes at a cost, though, as the bettor will be faced with a lower return determined by the amount of the adjustment. Tout : A person who sells his or her picks and sports betting knowledge to others. Wise Guy : Another term for a sharp bettor used to describe a professional bettor or someone deemed to have an enhanced advantage.

Opposite of underdog. Takes the opposite of the majority of bettors. Cover : The act of winning a point spread bet. Edge : The advantage a bettor has before placing a wager. Even Money : A wager that pays out exactly the amount you bet. Exotic : Any wager other than a straight bet or parlay.

Exposure : The maximum amount of money a sportsbook stands to lose on a game. First Half Bet : A bet placed only on the first half of the game. Future Bet : A bet on events that will happen further in the future. Such as who will win a division or a championship well in advance. Handicapper : A person who studies, researches, and wagers on sporting events.

Handle : The total amount of money wagered on a game. Hedge : Betting opposite of a previous bet to guarantee winning at least a small amount of money, or cutting losses. Hook : A half-point in the spread. In-Play : Bet Bets made after a game started. Laying Points : Betting the favorite by giving up points.

Limit : The most money a sportsbook will take on a single event. Linemaker : The person who established the betting lines for a sportsbook. Longshot : A team or horse perceived to be unlikely to win. Middle : When you bet on both sides of a game and have an opportunity to win both bets. Moneyline : A bet made if a team will win or lose outright with no point spread.

Move the Line : A player pays an additional price to receive half a point or more in his favor on a point spread game. Odds : The likelihood of the outcome occurring. Outlaw Line : The earliest line in sports betting. An overnight line. Parlay : A bet with two or more teams in which all teams must win or cover for the bettor to win and receive a higher payout. The spread is a line of 0. Point Spread : The predicted scoring differential between two opponents set by a sportsbook.

Press : To wager a larger amount than usual. Prop Bet : A bet on something other than the outcome of a game. Such as passing yards, or points scored by an individual player. Almost always 1. Push : When neither team covers the spread, no one wins the bet and all bets are refunded. Reverse-Line : Movement Betting line movement that contradicts the public betting percentages. Round Robin : A series of three or more teams in 2-team parlays. Runner : A person who places bets for another person.

Scouts : People who wait for what they consider an unusually strong wager.

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This is also known as the vig or vigorish. Middle — This occurs when bets on both sides of a game can win both bets. Moneyline — A bet on a team in a game to win straight-up without point spreads. The spreads are replaced with odds. Off the Board — A game or event that is unavailable to bet on. This usually occurs due to an uncertain injury status of a key player s. This may refer to the total combined points that will be scored in a game or the total wins for a team in a season.

Parlay — A bet consisting of multiple bets at least two and combines them together to make a single wager. All bets in the parlay needs to cover to win this type of bet. If one of the bets in the parlay is a push, but all other bets cover, the parlay pays out the odds as if the push bet was not made.

For example, a 4 game parlay pays 13 to 1 odds. If 3 of these games cover wins and the 4th game pushes, the parlay pays out 6. There is not point spread for these games. Prop Bet — Short for proposition bet or an exotic bet. This is a bet on anything other than the outcome of a game. Push — This occurs when a bet ends without a winner. For example, this happens if the favorite wins by the exact spread amount, like a bet on the Rams at -3 ends in a push if the Rams win the game with a final score of In this case, all bet amounts are refunded.

Reverse-Line Movement — Betting line movement that contradicts the public betting percentages. This would indicate that sharp money is shorting this team. Return on Investment ROI — A performance measurement used to determine the return rate of an investment.

Steam — A sudden, drastic line change on a game due to a recent circumstance. This may occur when a large amount of money is simultaneously bet on a particular side, for whatever reason. Teaser — A bet in which you are able to adjust the point spread or total for a game or multiple games. All games must cover to win this type of bet. Units — This refers to a standard monetary measurement.

The commission the bookie or bookmaker charges for wagers. This glossary covers some of the common definitions and slang in used in sports betting. Action — Any type of bet. Bad beat — Losing a bet that had a strong expectation of winning. Bookie Bookmaker — Someone who offers odds, bets, and charges vig.

Chalk — The favorite pick in a game. Closing line — The final line before a game starts. Consensus pick — A favorite pick from an accumulation of multiple sources. Dog — Short for underdog. The team expected to lose a game. Exotic — Any type of wager other than a straight or parlay bet. Favorite — The team expected to win a game. Handicapper — Someone who attempts to predict the winners of a game. Limit : The most money a sportsbook will take on a single event.

Linemaker : The person who established the betting lines for a sportsbook. Longshot : A team or horse perceived to be unlikely to win. Middle : When you bet on both sides of a game and have an opportunity to win both bets.

Moneyline : A bet made if a team will win or lose outright with no point spread. Move the Line : A player pays an additional price to receive half a point or more in his favor on a point spread game. Odds : The likelihood of the outcome occurring. Outlaw Line : The earliest line in sports betting. An overnight line. Parlay : A bet with two or more teams in which all teams must win or cover for the bettor to win and receive a higher payout.

The spread is a line of 0. Point Spread : The predicted scoring differential between two opponents set by a sportsbook. Press : To wager a larger amount than usual. Prop Bet : A bet on something other than the outcome of a game. Such as passing yards, or points scored by an individual player. Almost always 1. Push : When neither team covers the spread, no one wins the bet and all bets are refunded. Reverse-Line : Movement Betting line movement that contradicts the public betting percentages.

Round Robin : A series of three or more teams in 2-team parlays. Runner : A person who places bets for another person. Scouts : People who wait for what they consider an unusually strong wager. Sharp : A professional sports bettor. Sides : The names of the two teams playing. The underdog and the favorite.

Square : A beginner sports bettor. Steam Move : When a line starts to move rapidly. Usually do to heavy betting on one side. Taking the Points : Betting an underdog against the spread. Taking the Price : Betting the underdog and accepting money odds. Teaser : A type of parlay in which you adjust the point spread or total of each individual play.

Results in lower pay off. Ticket : A sports wager. Total : The combined amount of runs, points or goals scored by both teams during a game. Tout : A person who sells their picks or their sports betting expertise to others.

Units : A standard monetary measurement of how much you typically bet. Wager : A bet placed at a sportsbook. Wiseguy : A well-informed handicapper.

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New players can impress their game-playing friends, while veterans are sure to find some distinctive casino gamerisms where they can exclaim, I did not know that! Casino players are about to learn about casino jargon often heard at the tables, slots and sports books. Most of these casino terms have a long history and will surely add a unique quality to your next casino experience.

These are general casino terms only. For players who want to explore their favorite games, there are 8 other casino gamerisms units at this site. They are blackjack, poker, slots, video poker, roulette, craps, bingo and sportsbetting. Each of the glossaries presents casino terms, rules, graphics and an introduction to include strategy tips.

Links for these casino money games are provided below. Be sure to check out our page on how to find the best casinos online to win money. A full service casino will also offer sportsbetting and bingo. Either way, casino players can count on plenty of action. Aggregate Winnings : terms for total winnings. All or Nothing: refers to a Keno ticket where the payout occurs only when all picked numbers are drawn or alternatively, none of the picked numbers are revealed.

Automat Club or Videomat Casino : encompasses a gambling venue like an arcade, bingo hall or slot hall that provides automatic games where there is not a necessity for a casino operator. Examples: slot video machines or horseracing.

Bankroll: term for total funds available to support betting action. Bet: term for a wager on a casino game. Betting Limits: set by the casino, the minimum and maximum monies that players can bet. Bug : slang for the Joker card. Buy-in: monies converted to casino chips before playing casino games. Cage: refers to the location of the friendly casino cashiers.

Capping : cheating at the tables by placing additional chips on top of the original bet once the game round has begun. Card Sharp: expert card player, found at the money games like poker, blackjack and baccarat. Carpet Joints : casino terms referring to 5 star luxury casinos. May you visit often.

Casino: origin of the word refers to a public music and dance hall. Casino Advantage: casino or house edge when playing the games, usually reported as a percentage. Example: the casino advantage for double-zero roulette is 5. Chase: after losing, casino players will attempt to get back monies with additional bets. Cheques: the historical, correct term used in reference to playing chips. Chips : round discs with designated currency denominations and colors that are played instead of real money.

Obvious tip here--they are real money! Chip Tray: holds the chips stock placed nearby the dealer—another case of real money. Cold: term for a player, craps table or slot machine that is no longer on a winning streak. Coloring Up: when you take those five-dollar chips and exchange for larger denominations, possibly hundred-dollar chips, then you are coloring-up. Comp: as in freebie or points, these are the dining, beverage, hotel rooms and benefits received by casino players based on their wagering and time played.

See listing of US Mega club cards for several properties under letter U in this casino terms glossary. Cracking the Nut: casino lingo for a net profit after all gambling expenses deducted. Credits : 1 credit is equal to 1 cash unit. Crossfire: the dealers chatting it up about everything else but the live game in front of them. Croupier : it is French, mon ami, for the dealer of the gaming table. Dirty Money: the losing bets gathered by the dealer.

Game examples are Baccarat, Blackjack and Poker. Double or Nothing: wager that pays out the original bet or even-money. Therefore, this round is called the fifth street. Eventually, they use up all of their bankrolls. In a casino, George is the gambler who tips the dealer. Grease: There is a term to hide every illegal activity in casinos. Grease is bribe which is offered to a dealer in a casino. Hard Count: It is the act of counting coins in a room protected by security guards and cameras.

Honeymoon Period: It is a fact that new casino players tend to win more than they actually can. Try and see it for yourself! Insurance Bet in Blackjack : When a dealer opens a face up ace, he asks the players if they want to wager insurance bet. For instance, dealer opens a face up ace and a player accepts the insurance bet.

If the dealer has an original Blackjack in his hand, the player loses the original bet. Irregular Playing Patterns: Online casinos usually offer some bonuses which make the online casinos more attractive than the land-based casinos. However, in order to claim these bonuses, players have to play a certain amount of spins in order to obtain the bonuses. Jackpot: A great amount of money gained through playing a slot machine or lottery.

Jacks or Better: In videopoker, players have to have Jacks or higher ranking cards in order to win. Casinos usually pay the travel costs and accommodation fees of VIP players while forcing them to play at their casinos for a minimum designate time. In Macau, the Junket system is one of the main features of the gambling industry. Layout: The clothing on a gambling table which indicates where to place the wager. Low Poker: It is a poker game in which the pot is given to the hand with the lowest poker value.

Odds: Probability of winning a bet. A player can calculate his winnings through multiplying the odds with the amount of wager. Outside Bet: Placing the bets outside of the numbers in a roulette game. If you want to learn more about how to play Roulette, you can check our Roulette for Beginners Guide. Paroli: An effective betting system mainly utilized in Roulette and Baccarat. It is based on increasing the amount of wager after a win thinking that winning streak would continue for a while.

Pat: A hand which has the value of at least 17 in Blackjack. It means that this hand does not need any more cards. Payline: It is the line where certain symbols from each reel must coincide in order to pay off in a slot game. Each slot game has to have at least one payline. However, some slot games have more than 20 paylines such as Mega Fortune Online Slot game which has 25 paylines.

Pot: It is the amount of money accumulates in the middle of the table during a Poker game. The winner of the hand gets the money. Progressive Jackpot: It is a cumulative jackpot which is offered by some online slot games. The jackpot amount increases slowly each game until somebody wins the jackpot. Provably Fair: It is an online gambling algorithm which can be analyzed and verified by the service provider. Bitcoin casino operators usually utilize this technique to show their credibility.

Qualifier: Minimum ranking hand which is eligible to get a share from the pot in a poker game. Rack: A plastic container in which casino chips, slot machine tokens and coins are carried in a casino. Rake: It is the amount which is taken by the house as commission after each round during a poker game. Most casinos give free alcohol and soft beverages within their premises.

Some of them offer packages including room, food and beverages in order to attract mainly high-roller players. In seven card stud, going to the river means staying in the game until the final fifth round of the game. Royal Flush: It is a hand in poker. It contains ten, Jack, Queen, King and Ace. It is the best poker hand. Sawdust Joint: It is an American slang term which refers to a non-luxury gambling club. Seventh Street: The 5 th and the final round of betting in seven-card stud.

It is called the seventh street because in this round, players have seven cards. Shiner: It is a tiny mirror through which a cheater can see the face down hole cards and any other unexposed cards. Shoe: A wooden box which is used for keeping cards before they are dealt. It usually consists of six or eight decks. Showdown: In the last round of a poker game, the players who remain in the pot have to reveal their hands so that the winner can be determined.

Shutter: It is a window where numbers are exhibited in a bingo game. Whenever a number is called, the sign equivalent of that particular number is crossed on the window. Sixth Street: It is the fourth round of betting in seven-card stud. The term derives from the fact that players have six cards in this round. Skimming: Transferring money from a casino to a third person in order to evade tax or fund criminal activity. Spooking: It is the act of telling information to a player regarding the hole cards of the dealer.

It is a form of cheating. Standing Hand: It is a hand in Blackjack which has a card value of 17 or more. It is quite risky to ask for one more card in this situation. Streaming: In Blackjack, a player starts playing more aggressively after a losing streak. Suit: This term identifies any of the four card groupings in a deck which consists of spades, clubs, hearts and diamonds. Surrender: A player loses half of his bet if the ball stops on zero in Roulette.

In Blackjack, a player loses half of his bet if he decides not to complete a hand. System: It is a betting method used by a gambler to gain advantage against the house.