Betting Terms (L-P)

Laying the points - Betting the favorite by giving up points.

Laying the price - In sports wagering, laying the price means betting the favorite by laying money odds.

Layoff - sports betting term for money bet by a house with another bookmaker to reduce its liability.

Limit - In sports betting limit is the maximum amount a bookmaker will allow you to bet before he changes the odds and/or the points.

Line - In sports betting, the current odds or point spread on a particular event.

Linemaker - In the sports betting industry this is the person who establishes the original and subsequent betting lines.

Listed Pitchers - In sports gambling a listed pitcher is a baseball bet which will be placed only if both of the pitchers scheduled to start a game actually start. If they don't, the bet is cancelled.

Longshot - In sports wagering this is a team or horse perceived to be unlikely to win.

Middle - To win both sides of the same contest in sports betting event. Wagering on the underdog at one point spread and the favorite at a different point spread and winning both sides.

Money line - odds expressed in terms of money. With money odds, whenever there is a minus (-) you lay that amount to win a hundred dollars, where there is a plus (+) you get that amount for every hundred dollars wagered.

Move the line - A player pays an additional price to receive half a point or more in his favor on a point spread game.

Nickel - $500.00, in on a sports gambling wager

Nickel line - A sports wagering line where the juice is 5%.

No action - A wager in sports betting in which no money is lost nor won.

Off the board - In sports betting this is a game on which the bookmaker will not accept action.

One dollar - $100.00 in sports betting action.

Outlaw Line - Term for the earliest line in sports betting. This is an overnight line which only a handful of players are allowed to bet into.

Over - In sports gambling the "over" is a sports bet in which the bettor guesses that the combined point total of two teams will be above a specified total.

Parlay - In sports wagering, a bet with two or more teams in which all teams must win or cover for the bettor to win and receive higher payouts

Pick 'em - When neither team is favored. Also called a "pick" in sports betting terms.

Point spread - In sports betting this is the predicted scoring differential between two opponents as quoted by a sports book.

Press - In sports betting this means to wager a larger amount than usual.

Price - Sports betting term for the odds or point spread.

Prop (Proposition) Bet - In sports gambling this is a special wager offered by the sports book on unique and various topics. These wagers can be on sporting events, politics, and even trial outcomes. The wagers use the money line format of pay off odds and might included who scores the first touchdown in the super bowl, who will win the next presidential election, or whether or not O. J. will be found guilty.

Puckline - A puckline for sports wagering is giving odds of a goal spread instead of using a Canadian Line in hockey, where both a goal spread and money line are played.

Puppy - The underdog

Push - When the contest ends with no winner or loser for wagering purposes.