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Sport Wager

Sport wager is a game of skill. The challenge is to gather and analyze as much information as you can about a game, weigh the probabilities of each team winning, and subsequently compare your opinion to the oddsmaker's. Make the right judgment and you win. It's as simple as that.

While luck may be a deciding factor in the outcome of any single game, and will inevitably go against you on occasion, it will balance out in the long run. Being a consistent winner in the area of sport wager is not about luck but whether you are prepared to invest the time and effort to become knowledgeable about the sports you bet on, whether you can weigh all the factors in a cool, objective fashion, and whether you adopt a consistent, disciplined, long-term approach to your betting. Do all these and you will come out a winner. Remember, it's you against the oddsmaker, not the bookmaker.

The bookmaker is simply a middle-man who operates on a small profit margin and, ideally he likes to see half the money wagered on one team and half on the other, assuring him of a profit. If too much of the money goes on one team, the bookmaker will move the line or pointspread to encourage bets on the other team in an effort to balance his book. The person you are attempting to beat is the oddsmaker and his views on each team's chances. Just by flipping a coin you will be right 50 percent of the time. At odds of 10/11 only 52.4 percent of your bets have to win for you to overcome the bookmaker's profit and break even, so you only need a very small edge to become a winner. Do your homework and bet selectively. 55% winning bets is definitely achievable and 60-65% is a realistic target. At those levels you will have an extremely profitable and enjoyable hobby.

Commonly Used in Sport Wagering

ACTION
The amount of money being wagered on a game.

BAD BEAT
A hard loss.

BOOKIE
A person or organization that sets the lines and books the bets in sports.

BANKROLL
The amount of money the player plans to gamble.

BEARD
A messenger bettor. Someone who places bets on behalf of another person so that the bookmakers will not know the identity of the actual bettor.

BEEF
A Dispute

BUCK
A $100 wager.

CHALK
The team favored to win.

CHALK PLAYER
A person who usually wagers on the favored teams. A.K.A Favorite Freddie, chalk eater

CIRCLE GAME
A game where the betting action is severely limited due to uncertainties about key injuries, inclement weather conditions, or unsubstantiated rumors regarding a team.

COVER
To win by more than the pointspread.

DEGENERATE
A compulsive gambler.

DIME BET
A $1000 wager.

DOG
The underdog in any betting proposition. A.K.A. Puppy

DOG PLAYER
A person who usually bets on the underdog.

DOLLAR BET
A $100 wager.

DOUBLE BET
A wager twice the amount of one's normal wager.

EARN
The practical hold percentage

EDGE
An advantage

EVEN MONEY
A wager on which the odds are 1-1.

EXOTIC BET
A bet other than a straight bet or parlay

EXPOSURE
The amount of money the house will risk losing on a game or race.

EXTENSION
The amount of money the house theoretically stands to lose on a game or race.

FIGURE
Amount of money owed to or by a bookmaker.

FIRING
Wagering huge sums of money.

FLEA
An annoying person who wants something for nothing. One who expects to be comped for a $2 wager.

FORM
The performance expected of a team according to how they look on paper.

FUTURE BET
Bets accepted well in advance of the events.

GETTING DOWN
Making a bet.

GOING DOWN
Losing a bet or bets.

GROSS WIN
The amount of winnings before subtracting the expenses.

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