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How To Be An Online Bookie - Lesson 2

How To Be An Online Bookie Lesson #2 – Terms You Should Know

If you want to be an online bookie agent, it will require hard work. It’s not as easy as setting up an online sportsbook, waiting for the action to come in, and then collecting on debts.

Understanding bookmaking terms is one of the best ways to encourage players to play with you.

9 Terms Every Online Bookie Should Know

Action

Sometimes called betting action. Action is the wagering dollars that go to your bookmaking business.

For example: A player bets $200 on Oakland at -4. The player has $200 of action on Oakland at -4.

Against the Spread

The classic football and basketball wager. Spread wagering requires players to choose one side or another in a spread bet.

The spread is the amount of points offered, or taken away, from the teams in the spread wager.

Check out an example:

    Oakland -4

    Kansas City +4

What the above spread wager means is that if you like Oakland, Oakland must beat Kansas City by at least 4 points for you to win your bet.

If you like Kansas City, Kansas City can lose by at least 3 points for you to win your bet.

Juice/Vig

The fee that a bookie receives to accept wagers. The juice is usually 10% or 15%. It’s shown like this:

    Oakland -4, -110

What this means is that for every $100 dollars a player wagers on Oakland at -4, your cut is $10 or 10%.

Live betting

The term refers to making bets while a game is being played.

Live betting has become an extremely important revenue stream for many pay per head agents.

PayPerHead.com offers over 80+ leagues for live betting, so your players will always find something to spend their cash on.

Marker

The amount of money in credit a player can bet without having to make a payment.

Example: He’s got a $500 marker. Once he reaches his $500 marker, I start collecting.

Money line

Sometimes spelled as moneyline. Money line bets are wagers that require players to simply bet on a team to win. Below, is a typical moneyline wager:

    Oakland +150

    Kansas City -175

The above money line wager states that for every $100 wagered on Oakland, an extra $50 is won in profit should Oakland beat Kansas City.

If players bet on Kansas City, they must wager $175 to garner $100 in profit.

Off the board

Off the board means that players cannot wager on a specific sporting event.

Example: Sometimes a game must be taken off the board due to an injury to a key player, or other information not privy to the general public.

Parlay

A wager that involves the player being right on at least 2 separate bets.

Example: I like New England -3 to over 45.

New England must win by at least 4 points. The total score must exceed 45. If neither of those two things happen, the bet is a loser.

Payout

The amount paid out after the bet. Payout is different than profit. If someone bets $100 on Oakland at -4 and Oakland beats KC by 5 points, the profit is $90. The payout is $190.

Run line/Puck line

In hockey betting, the run line is called the puck line. Run line and puck line betting requires either giving up runs or pucks, or accepting runs or pucks, for specific odds.

Here’s an example:

    Colorado +1.5 -165

    Arizona -1.5 +135

If you want to bet on Colorado at +1.5, meaning that you win if Colorado beats Arizona or only loses by a single run, you must wager $165 for every $100 profit.

If you don’t mind giving up 1.5 runs on Arizona, meaning that you believe AZ beats Colorado by at least 2 runs, you gain $135 in profit for every $100 wagered.

Teaser

Offering more points for low odds on a parlay bet that consists of at least 6 separate bets. Here’s an example of a parlay versus a teaser:

6-Team Parlay

    Wisconsin -14 

    Green Bay +4   

    Dallas - 7

    Indianapolis +10  

    Buffalo +3

   

6-Team 6-points Teaser

    Wisconsin -8

    Green Bay +10

    Dallas -1

    Indianapolis +16

    Buffalo +9

The advantage with teaser bets are always with the online bookie agent. The reason is because it’s incredibly difficult to hit a 2-team parlay.

It’s almost impossible to hit a 6-team teaser something invariably goes wrong for the player.

Thinking about starting your own sportsbook is a big decision, but we’ve got you covered. Check out last weeks How To Be An Online Bookie Lesson 1

PayPerHead.com has been in the business since 1997. They’ve helped online bookies – no matter what skill level – grow their sportsbook, and their pockets.

Get PayPerHead’s Prime Software, and all the help you need, by starting their FREE 7 DAY TRIAL. Then, before the trail is over, give one of our reps a call and find out how you can keep the Prime Package, loaded with premium tools, for just $3 per head.

Start your own sportsbook today, and sign up for PayPerHead’s premium sportsbook solution.

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