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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 sports betting 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.

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.
HANDICAPPER	A person who studies sports and predicts its outcome.
HEDGING	Betting on the opposite side in order to cut losses or guarantee winning a minimal amount of money.
HOLD	The percentage the house wins.
HOLDING YOUR OWN	Neither winning or losing, just breaking even.
HOOK	A half point in pointspreads.
HOOKED	Losing a bet by exactly one-half a point.
HOME FIELD ADVANTAGE	The edge the home team is expected to have as a result of familiarity with the playing area, fan support, and the effect of travel on the visiting team.
HOOPS	Another term for Basketball.
HOT GAME	A game that draws a significant amount of action on one side by knowledgeable handicappers.
HOT TIP	Insider information that the bookmaker cannot divulge.

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