When the sportsbook reads all the available lines to a customer, this is referred to as the “rundown.” Sometimes the board on which odds and prices are listed is called the “rundown” as well.

This is a euphemism for “bookie,” used by some gamblers on message boards and in email as a kind of secret code. For example: “My accountant offered me a half-point at a decent price, so I took it.”

This word refers to a valid and active wager. It’s opposite, “no action,” refers to bets that have been invalidated, either because of a rain-out, postponement, or other suspension of game play. The word is also used to refer to the complete amount of bets a gambler places at a time: if you place 20 bets of $10 apiece, your total action is $200. [..]

Arbs, as they’re sometimes called, are differences between odds at different books that allow players to wager on both sides for a guaranteed win. Arbitrage can make sports betting a positive expectation gamble.

This slang word refers to a $100 wager. Sometimes called a one dollar bet, the term probably originated in the early days after the passage of the Federal Wire Act to disguise how much money was actually being bet.

Sometimes a bookie will let you change the point spread or the over/under on a game that you think will give you an advantage. Sports bettors buy points one half-point at a time. Generally, each half-point costs the gambler an extra 10% in juice.

Another slang term originally used to disguise gambler’s bets; a dime actually means a wager of $1,000. You’ll still hear people use the term “dime” or “dime bet,” though these colorful slang terms are not as common at online books.

Yet another bet size slang word, a wager of fifty cents is actually a bet of $50.

This term refers to any bet you make on a sporting event in the future. The most common Futures bet in the Western world are wagers placed on who will win the Super Bowl before the NFL season even starts. The idea behind a future wager is to get a better line now than after the season starts and your team’s performance means the bookmaker shifts th [..]

This gambling term has made it into the common parlance; to hedge your bet means to wager the opposite side of a wager you’ve already placed in order to limit your potential losses. Placing hedge bets is a way to shield your bankroll from exposure.