With online sports betting becoming more and more popular amongst people one needs to be well aware of the different terms and phrases used within the events and the community so that they don’t feel like an outsider. Sports betting has been gaining a lot of popularity in the past couple of years as more and more bookies have popped up both online as well as offline. It is now easier to become a bookie in some simple steps and with the help of Bookie Software, one can try and do it for a living.
The below mentioned are some of the most common terms used in the industry and are common amongst the peers of the trade.
Bankroll: This is the total amount of money a person is willing to bet during an event or game.
Bonus: this is a form of incentive that makes sure that bettors return to a particular bookie or stick with their existing bookie. This is a great way to promote and get people to start placing wagers and make money in the process. Usually, bookies offer a signup bonus amount to people willing to start betting so that they use a particular bookie.
The betting consensus: this is a breakdown of the wagers expressed in percentage to show which team has more bets on, for instance, out of 1000 wagerers 700 wager for team X and 300 wager for team Y the consensus reads team X 70% team Y 30%.
Opening line: this is the very first set of odds that are listed for a particular event or game, this is to give the bettors an idea of what the odds look like and where they should put their money on.
Evens: in betting when you bet on a racehorse that is quoted “evens” you stand to win a sum that is equal to the amount you are willing to put at stake for the particular event that horse takes part in. For example, if you bet a million dollars on a horse that is quoted evens and the horse wins the race, you will win million-dollar prize money and walk away with the money.
Beard: a beard is a person who charges a small amount of fee and bets for a person who does not wish to reveal their identity. A beard gives you the freedom to take part in a betting event with your identity concealed.
Chalk: this is the betting favourite in an event, it can be a team or a particular horse for example.