GAMBLER'S DICTIONARY : "Common terms" 

ACTION 

 Any bet or wager.  

BOOK 

 A sports book or betting establishment that sets odds and accepts wagers on the outcome of sporting events.

CHALK 

 The favorite.  

CIRCLED GAME 

 A game in which the sports book reduces its normal betting limit usually because of an injury or weather condition.  

COVER 

 When the team wins by more than the point spread.  

DIME 

 $1000 

DIME LINE 

 A money line (no point spread involved) in which the vigorish or bookie's juice amounts to 10 percent.  

DOG 

 The underdog, or the team getting points.  

DOLLAR 

 $100  

FUTURE BET 

Bets accepted well in advance. Examples include betting on which team will win the World Series or Super Bowl months before the event.  

HEDGING 

Betting the opposite team or side of your original bet in order to try to win or to reduce the size of the original wager.  

HOOK 

Half point.  

LINE 

The current odds or point spread on an event.

LOCK 

A term meaning can't lose.

MIDDLE 

When both sides of a point spread proposition win.

MONEY LINE 

Odds expressed in terms of money. For example: 49ers minus $140; Redskins plus $130. 49ers bettor would lay $140 to win $100, while Redskins bettors would get $130 for every $100 they bet if the Redskins won. 

NICKEL

$500.00

ODDS-ON-FAVORITE

 A horse, team or individual so favored by the public that the odds are less than even.

OFF-THE-BOARD

A game in which the sports book is not taking wagers on.

OVERLAY

An advantageous situation for the bettor in which the price on a given wager is greater than the real probability of its success.

OVER-AND-UNDER

A bet in which you wager if the total score by both teams will be more or less than the total posted by the sports book 

PARI-MUTUEL

Betting pools in which the odds are determined by the proportionate amounts bet on the individual entries. 

PARLAY

A combination wager in which the person has to wager on at least two or more bets and collects higher odds if successful.

PICK'EM

The game or contest is rated even with no favorite.  

POINT SPREAD

The predicted scoring differential between two opponents listed by a sports book.  

POST TIME

The scheduled starting time. 

PROPOSITION - (prop) BET -

A wager offered by the sports book on a particular aspect of the game such as how many touchdown passes Peyton Manning will throw.

PUSH

A tie in the betting.

ROUND-ROBIN - 

A method of parlaying two or more teams in all possible two-team parlay combinations.

SIDE 

When one side of a betting proposition wins and the other side ties.

STRAIGHT-UP WIN

A victory by a point spread underdog

VIGORISH 

The juice or commission taken out by the sports book for accepting the bet, usually 10 percent. 

WAGER 

Any bet.

   WISE GUY

A sophisticated bettor.