Date: 3rd August 2020 at 2:37pm
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Sports betting can have a lot of confusing terms that if you are a newbie, it can easily feel as if the language spoken within the community is entirely foreign. Knowing and understand the terms and jargon used in sports betting will help you be more knowledgeable and a more confident bettor.

If you are looking for odds updates and betting tips, you can visit Silentbet, where you can also find bookie ratings, reviews, and recommendations. On the other hand, here are some of the top football betting terms that you should be familiar with as a beginner.

The bankroll

If you plan to gamble and bet on sports, one thing you should have, first and foremost, is money. However, not just money but money dedicated only to gambling. Sure, you can bet and wager from your salary and from your daily or monthly budget, but doing that will expose you to the risk of overspending or misspending and, eventually, financial downfall.

The bankroll refers to a pool of money you have set aside to be used only for gambling. This is not a fixed amount, though, as you can add from it from time to time if you want to. However, the entire concept of a bankroll is to have money for gambling that is not taken away from your budget for necessities like food, clothing, and utility fees. In simpler terms, if you cannot afford to have a bankroll for gambling and betting, you cannot afford to gamble at all.

The odds

In the simplest of terms, the odds refer to the statistics and predictions of how much percentage a team can win or lose. Most of the time, the odds are calculated and presented by the bookies themselves, although there are also people dedicated to presenting the odds, called the oddsmaker or linemakers.

The “juice”

The “juice,” or sometimes also called as the “vigorish,” the “vig,” and many more is the amount of money the online sports bookmaker earns for every bet wagered through them. After all, running a bookmaker service is not charity work. At the end of the day, it is still a business, and as with all other types of businesses, it needs to earn money. The juice is how they do it.

If you have been playing in a casino, either land-based or in an online casino, you will probably be familiar with the concept of the house edge. In the same way that the house edged refers to the money the casino earns for every bet wagered, the juice in sports betting works in the same.

To better understand how the juice works, take this for an example: if you bet on a favorites team with an odds of -115, and you won the bet, you will have a total profit of $100 for every $100 you wagered., this is in the situation of the bookie taking in the $15 as the “juice.”

Remember that although the juice remains to be fairly similar among bookies, some do offer lower juice than others. However, it is always good to look into the fine print of even seemingly good offers like a lower or even no juice at all.

Over/under

The concept of an over or under is pretty simple and straightforward. Depending on the type of over and under, this number shows you a certain value, and depending on whether you think the final outcome based on the game would be over or under, and that would be your bet. It could be the predicted total number of goals of the two teams combined, the total number of assists, blocks, and many more.

Then, the core concept of an over and under would be for you to guess if the projected number would be over or under the game’s actual outcome.

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