Aussie Gaming Glossary: Jargon You Need to Know 

 March 24, 2022

Aussie Gaming Glossary: Jargon You Need to Know

If you’re a fan of gambling, there’s a good chance you’re familiar with some of the jargon used in the industry. But even if you’re not, it’s important to be aware of the terminology used so that you can make informed decisions about your bets. In this article, we’ll define some of the most common gambling terms and explain what they mean. By understanding the jargon, you’ll be able to have more meaningful conversations with other gamblers and make better choices when placing your bets in Joo Casino Online. So let’s get started!

Arbitrage:

Arbitrage is the practice of taking advantage of differences in price between two or more markets. For example, a gambler might place a bet on a horse at one bookmaker and then place a bet on the same horse at another bookmaker with different odds. If the horse wins, the gambler will receive payouts from both bookmakers that will cover their initial investment and leave them with a profit.

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Bankroll:

A bankroll is the total amount of money that a gambler has available to use for gambling purposes. It’s important to manage your bankroll carefully so that you don’t run out of money before your session is over.

Dime:

A dime is a $10 bet.

Double-Up:

A double-up is a type of bet that allows you to double your money if you win. For example, if you bet $10 on a horse at 2-to-1 odds and it wins, you would receive a payout of $20 ($10 bet + $10 winnings).

Even Money:

Even money is a type of bet where the payout is equal to the amount of the bet. For example, if you bet $10 on a horse at even money odds and it wins, you would receive a payout of $10 ($10 bet + $0 winnings).

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Favorite:

The favorite is the team or individual that is most likely to win a given matchup. Favorites typically have lower odds than underdogs.

Grand Salami:

The grand salami is a type of bet that allows you to wager on the total number of goals scored in all NHL games on a given day.

Joint Favorites:

Joint favorites are two teams or individuals that are both favored to win a given matchup. For example, if Team A and Team B are both favored to win their game, they would be joint favorites.

Layoff:

A layoff is a type of bet that allows you to offset your risk by placing a bet on multiple outcomes. For example, if you’ve placed a bet on Team A to win and they’re losing late in the game, you may place a bet on Team B so that you don’t lose all of your money.

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Locked In:

A bet is considered locked in when it can no longer be changed or canceled. For example, if you place a bet on a horse and it wins, the bet is locked in and you will receive the payout regardless of what happens after the race.

Money Line:

The money line is the odds of a given event. It tells you how much you need to bet in order to win $100, or how much you will win if you bet $100.

Odds:

Odds are a way of expressing the probability of an event occurring. They are typically expressed as a ratio, such as 1-to-2 or 2-to-1.

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Over/Under:

An over/under bet is a type of bet that allows you to wager on whether the total number of points scored in a game will be over or under a certain amount.

Parlay:

A parlay is a type of bet that allows you to combine multiple bets into one. For example, if you have two separate bets on different games, you could combine them into a parlay. If both of your bets win, you would receive a larger payout than if you had placed each bet separately.

Push:

A push is a type of bet where neither the favorite nor the underdog wins or loses. This typically happens when the point spread is equal to the number of points scored by both teams. For example, if Team A is playing Team B and the point spread is 10 points, but both teams score 20 points, the bet would be a push.

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Round Robin:

A round robin is a type of bet that allows you to combine multiple bets into one. For example, if you have two separate bets on different games, you could combine them into a round robin.

Straight Bet:

A straight bet is a type of bet where you wager on the outcome of a single event. For example, if you bet on Team A to win their game, it would be a straight bet.

Totals Bet:

A totals bet is a type of bet that allows you to wager on the total number of points scored in a game. For example, if you bet that the total number of points scored in a game will be over or under 100, it would be a totals bet.

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Underdog:

The underdog is the team or individual that is expected to lose in a given matchup. For example, if Team A is playing Team B and Team B is favored to win, then Team A would be the underdog.

Vigorish:

Vigorish is the commission that a bookmaker charges for their services. It is typically expressed as a percentage of the total amount wagered. For example, if you place a $100 bet and the vigorish is 10%, then you would owe the bookmaker $10.

Wager:

A wager is a bet placed on the outcome of an event. For example, if you bet on Team A to win their game, it would be a wager.

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