One of the most important steps when you start a price per head bookmaking business is to be familiarized with the vocabulary used in the industry. Here you will learn the definitions of the most commonly used words and phrases. In each part of this series of articles, I will cover 10 common terms used by bookies, bettors and betting businesses.
11-10: 11-10 is the traditional bet with a bookmaker in which the gambler puts up $11 to win $10.
Favorite: The favorite is the predicted winning team in a particular contest.
Hack: A hack is a sportswriter who provides extraordinary loyalty to a particular team or sport in order to maintain his access and sources.
Handicapper: One who determines the conditions and sets the odds that will equalize two teams in an upcoming game.
Handle: The total amount of money bet on a particular game or series of contests is called the handle.
Hedge: Also called a layoff, a hedge is the covering of a bet with a second bet.
High roller: A high-stakes gambler.
House: The operator of any gambling business.
Injury report: A description of the status of an injured player, which is frequently used as a variable in betting equations.
Inside information: The data obtained on a particular team or its players and/or staff that may impact upon the final outcome of a game.
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