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A short for arbitrator. This is a bettor who uses the variations in odds and bets on different outcomes of the same event on different betting sites, guranteeing himself a profit.

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Betting runner who places bets for professional bettors so that they can hide their identity from bookmakers. Several reasons make someone use a beard rather than just placing a bet themselves.  Here are a few of the most common: It is possible for a player who has been banned from one betting website or retail betting shop to use a beard to place wagers for them. Perhaps this particular bookmaker offers the most competitive odds, or an unusual type of bet, or a sport that can’t be found anywhere else.  As a rule, if you are involved in a particular sport at a certain level (players, coaches, officials, etc) you are not allowed to bet on it. The same applies to the staff at bookmakers. The repercussions of getting caught would be quite severe, but if one of these people desperately needed to place a wager, they could use a beard.  The local resident may not want to be seen placing a wager against his or her home team. They could use a beard who is an out-of-towner and wouldn’t be recognised.  Most betting companies have limits on their games and sportsbooks. For example, if someone wanted to make a £30,000 wager but could only stake £15,000, he or she could hire a beard to make the other $15,000 wager.  Many betting companies have a list of restricted countries where you aren’t allowed to bet online. If someone living in one of these countries wanted to place an online wager, they could hire a beard in an unrestricted country to place bets for them.

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Abbreviation for bookmaker or sportbook that publishes odds and takes bets.

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Both Teams to Score, or ‘BTTS’ as it is often abbreviated, is a bet that requires each team to score during a match in order to win. In fact, it’s a parlay consisting of two wagers - Team 1 to score/not to score and Team 2 to score/not to score.  This type is divided into ‘BTTS - yes’ and ‘BTTS - no’. If at least one goal is scored by both teams, the first wager is seen as profitable. Negative (second) wager wins if at least one of the teams does not excel in the match. Otherwise, failure is what will happen. The system particularly applies to full time. Extra time and penalties are not included in calculation.

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The term chalk in sports betting simply means that side of the bet is the favorite – usually a very heavy, or strong, favorite – to win that side of the bet. This can be a team, a player/individual, a statistical outcome or a horse. Strong favorites are typically tied to very low odds, in the -300, -400, -500 variety. That means to win $100 on betting on that heavy favorite – or chalk play – you’d have to spend $300 (on -300 odds), $400 (on -400 odds) or $500 (on -500 odds) to have a return of $100 in winnings. Obviously that’s not a huge return on your investment.

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When you hear the term “circled game” tossed around in sports betting discussions, it refers to the sportsbook method of limiting the betting action for a specific game. A “circled game” cannot be included in any exotic bets such as teasers or parlays and will only be available to bet on its own. There are almost an infinite number of reasons that sportsbook resort to circling games, but in my experience the main reason is an injury to a key player, the effectiveness of said player, or if he is even going to be able to play.  Another reason for circled games could be the weather. If the weather is bad enough to impact the outcome of the game, or force the game to be rescheduled the next day (think double header in baseball), sportsbooks are usually ahead of the elements and limit the betting action. If they didn’t do this, the sportsbooks could be vulnerable to someone who knows what they are doing and that has the bankroll to try and get the better of the book.

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