10cent line, 20cent line, (etc) -  Expresses the amount of difference between the moneyline odds on the favorite and the odds on the dog at a book.  If a book offers Cleveland +170/Detroit -180, then the difference is said to be 10 cents.  10 cent lines are sometimes known as "dime lines".

-2, -3 (etc) - A BullsBetting scalping  expression used to describe the amount of loss taken between two wagering lines in a scalp.  Betting -180 vs. +177 would be a "-3".  

Accumulator - A multiple bet with increased odds. All the selections made must win for you to win the accumulator.  See also "Parlay" and "multiple".

Action - 1.  A bet.  2.  The point at which a bet becomes valid.  For example, some books require a baseball game to go at least 8 innings before there is action on your bet.  3.  When betting on MLB, you can choose whether you want to bet the game using only the listed starting pitchers, or action - meaning you will still keep your wager even if there is an announced change in the pitching line-up before the game starts.

American odds - A method of expressing odds in terms of $100.  For positive American odds, the number is the amount won if $100 is wagered.  For example, if the odds are stated as +250, then  wager of $100 will win $250 if it hits.  For negative American odds, the number is how much you need to wager in order to win $100.  For example, if the odds are stated as -250, then a wager of $250 will win $100 if it hits.

Arbitrage - A situation where a variation in available odds between two books allows a bettor to back both sides and guarantee a win.

Arbing - A BullsBetting expression used to describe the betting style of looking for or having an arbitrage bet.  "I am arbing the Detroit/Cleveland game".  

Betting exchange - A place for bettors to offer wagers for sale or to purchase wagers from other bettors.  The bettors themselves set the line.  There is no bookmaker involved.    

Book, Bookie, Bookmaker, Sportsbook  - An establishment that accepts bets on the outcome of horse racing and sporting events.

Burning or Book Burning - Making a book ineligible for reload bonuses.  Some books offer reloads as long as you are a net loser.  If you hit a streak where you win heavily at a book and must cash out to continue your bonus chasing, you are said to have "burned that book".

Bust out - A BullsBetting scalping expression used to describe having lost all of your money in one book.

Capper - Short for "Handicapper".  Someone who studies, rates and wagers on sporting events and/or races.

Cash Bonus - A bonus that is paid in cash and can be used for placing bets just like deposited funds.

Chalk - The favorite.

Chalk Player - someone who usually only plays the favored teams, rarely betting on the underdogs.

Churning - 1.  Making enough wagers to total all the money in your account.  A rollover.  2.  A BullsBetting expression to describe progress toward meeting a wagering requirement for a bonus without busting out.  

Circled game - A game where the maximum bet is limited. The sportsbook or bookmaker puts a limit on the amount of action they are prepared to take on the game. This is most often due to doubts about key players, inclement weather, or unsubstantiated rumors regarding a team. 

Collared - When a book reduces your maximum betting limits below the normal maximum betting limits, you are said to have been "collared".  Books may collar a bettor for being sharp or for scalping.

Cover - When a favorite wins by more than the required number of points.

D+B - A BullsBetting expression meaning "Deposit + Bonus".  

Decimal odds - A method of expressing odds as the amount that will be paid out to the bettor, multiplied by and including his stake.  For example, if the odds are stated as 1.85, then a wager of $10 will return $18.50 [$10 original stake plus $8.50 of winnings].  Also known as European odds.

Dime - A wager of $1,000.

Dog - The team perceived to be most likely to lose.

European odds - A method of expressing odds as the amount that will be paid out to the bettor, multiplied by and including his stake.  For example, if the odds are stated as 1.85, then a wager of $10 will return $18.50 [$10 original stake plus $8.50 of winnings].  Also known as decimal odds.

Evens - 1.  A bet whose odds are 1/1.  2.  A bet with no juice.  3.  A BullsBetting expression for a break even scalp.  Betting +180 vs. -180 is said to be finding an evens.

Favorite - The team perceived to be most likely to win.

Futures - Bets placed in advance predicting the outcome of a future event.  Picking the winner of the World Series on opening day, for example.

Handicapper - Someone who studies, rates and wagers on sporting events and/or races.

Juice - The amount charged by a bookmaker for his services.  Also known as overround, vig and vigorish.

Lay - Make a wager.

Layoff - Make a wager that reduces exposure to losses should a previously made bet lose.  

Limit - The maximum amount that a book will accept on a wager.

Line - The current odds or point spread on a particular event.

Line moves - Changes in the odds from the original line.

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

Listed Pitchers - 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.

Middle - When you have two opposing bets on an event where it is possible to win them both.  i.e. if you have the Browns at +7.5 and the Steelers at -6.5, you can win both bets if the Steelers win by exactly 7.

Moneyline - Fixed odds for the winner of an event.

Multiples - A multiple bet with increased odds. All the selections made must win for you to win.  Also known as accumulator or parlay.

Negative Figure - Fancy language for gambling losses.  If you lose $200 gambling for the week you have a $200 negative figure for the week.  Many sportsbooks will offer reloads only to clients with a net negative figure, meaning only to clients who have more gambling losses than wins during the lifetime of their account.

Nickel - A wager of $500.

Overnight lines - Lines for a game posted a day in advance.

Overround - The amount charged by a bookmaker for his services.  Also known as juice, vig and vigorish.

Parlay - A multiple bet with increased odds. All the selections made must win for you to win.  Also known as accumulator or multiple.

Public team - A team with a large loyal following that attracts lots of wagering by square bettors.

Puckline - In hockey, a spread used instead of a moneyline.

Punter - British expression for "bettor".

Rollover - Making sufficient bets so that the total wagered equals all of your money on account.  

Runlines - In baseball, a spread used instead of a moneyline.

Scalping - Betting both sides of the same event in hopes of making a profit.

Sharp - A savvy, sophisticated bettor.

Sides - 1.  The names of the two teams competing in an event.  2.  A wager in which the winner of an event is selected in advance.

Spread - The predicted scoring differential between two opponents as quoted by a sportsbook

Square - A new or unsophisticated bettor.

Steam - When a line starts to move rapidly. Steam does not necessarily reflect objective circumstances, but may occur when a mass of bettors are drawn to a particular game for some reason.

Stuck - A BullsBetting expression used to describe the situation where a bettor was scalping for a bonus, but got all of his bankroll into one book before meeting the minimum wagering requirements for being able to withdraw the bonus from that book.

Teaser - A special type of parlay in which the bettor adjusts the point spread or total of each individual play. The price of moving the point spread (teasing) is lower pay off odds for winning wagers.

Totals - A proposition bet in which the bettor speculates that the total score by both teams in a game will be more or less than the line posted by the sportsbook.

Vig, Vigorish - The amount charged by a bookmaker for his services.  Also known as overround or juice. 

Wagering requirement - The minimum amount of wagering the sportsbook requires before releasing a bonus.

Wiseguy - A knowledgeable bettor.  Similar to a Sharp.