Top 30 Betting Terms & Gambling Phrases You Should Know

For novice gamblers, gambling terms may sound difficult, especially if you don't understand the language of bettors. There are numerous idioms, phrases, and words that you only hear on a casino floor or at a betting café. As such, a good grasp of the gambling lingo may be necessary for a smooth betting experience.

Read on to learn about some commonly used gambling phrases and betting terms that will come in handy during betting.

Table of Contents

1. Betting Terminology: Gamblers Have Their Own Language
2. 15 Sports Betting Terms You Should Know
3. 15 Gambling Phrases You Should Know
4. How to Gamble with Bitcoin on 1xBit

Betting Terminology: Gamblers Have Their Own Language

Betting terminology refers to the words and phrases specifically associated with gambling. For instance, juice may be a beverage to everyone, but in betting, it refers to a commission earned by sportsbooks from every wager.

In addition, there are phrases used along the terms in gambling to make up a unique gambler's language. For avid bettors, clearly understanding of these terms and phrases may be the difference between losing and winning from your wagers.

15 Sports Betting Terms You Should Know

To help you understand the betting language, here is a glossary for the commonly used betting terms and phrases.

• Action: It refers to live betting or placing a wager on any sporting event.
• Bad Beat: It is a bet that a gambler loses despite it looking like they would have won.
• Bookie: Short for bookmaker, this term refers to a person/company allowed by law to accept bets and offer odds to gamblers.
• Ante-post: Common in dog racing and horse racing, ante-post refers to odds provided before an event, usually a day before it begins.
• Bankroll: This is money you set aside for betting purposes only.
• Edge: Refers to a slight advantage a bettor may have over a bookie before the wager is placed.
• Dog: Short for the underdog, it denotes a team that is least likely to win a match.
• Fav: This is the short form for ‘favorite’ and refers to a team most likely to emerge as the winner in an event.
• Exposure: The amount of money a bookie or gambler may lose in any bet.
• Limit: The maximum amount of money you are allowed to wage on a single bet.
• Parlay: A type of bet where you wager on multiple sports for a high payout.
• Stake: Also known as outlay, this is the money you use on a specific wager.
• Playthrough: Called the wagering requirement by some, it is the number of times you need to place a bet with a bonus amount before making a withdrawal.
• Payout: The money you receive whenever your bet is won.
• Lines: Refers to the betting odds offered by bookmakers.

15 Gambling Phrases You Should Know

Here are the top phrases used in gambling that may be helpful to familiarize yourself with.

• Ace in the hole: This means a gambler's unseen advantage over other poker players, which they can then use at an appropriate time.
• Betting the farm: The phrase refers to risking vast amounts with an expectation to win.
• Down to the wire: It refers to an event with an unpredictable result, whose outcome can go in either direction.
• All bets are off: Commonly used when wagers are considered null and void.
• Playing the percentages:  Refers to placing bets that are likely to occur or ones set up on statistical percentages.
• Sweeten the pot: Mostly used in poker, it means increasing the number of game winnings.
• Throwing the game: This is frequently used when a gambler loses a game intentionally.
• Upping the ante: A phrase referring to the increment of stakes in a game.
• Put your money where your mouth is: This means you need to back up your statements regarding a particular game by placing a wager.
• In the cards: Originally used by tarot readers, the phrase refers to outcomes and results of wagers.
• Hit the jackpot: It is used to describe a favorable outcome in a game when a player wins the biggest winning combination in a game.
• Break the bank: It generally refers to gamblers who have exhausted their gambling finances.
• Cash in one's chips: This means to change one’s betting chips in exchange of money. Usually done at the end of a game, or if one wants to stop playing. 
• Hold all the aces: Being in a very strong position in a game.
• Run the table: it is commonly used when a gambler is winning every game.

How to Gamble with Bitcoin on 1XBit

1xBit is a leading bookmaker that capitalizes on letting gamblers place wagers using cryptocurrency. Here is a quick guide on how you can bet on the sportsbook with Bitcoin.

• Visit 1xBit.com and tap on the green registration button. On the page that appears, enter the required information and click on the 'REGISTER' icon. Typically, you only need to provide an email, create a password, and confirm both.

• Once you’ve confirmed your email, you can log into your account to start betting. To do this, provide your email address and the password you created, then perform a CAPTCHA.

• After logging in successfully, the next step is to deposit BTC in your account. You do this by tapping on the deposit button and clicking on the Bitcoin symbol. The site displays your 1xBit Bitcoin wallet address and a QR code which you will use to deposit from your crypto wallet.

• After your account is been funded, you can proceed to place wagers. Go to the 1xBit menu and settle on the sports you want to bet on. There are numerous options, ranging from sports, slots, and esports to live casinos.

• Once you have settled on a specific sport, select your desired bet markets and stake the wage amount. On the left side of the site, a bet slip appears. Click on the 'PLACE A BET" button.

• Sit back and wait for your betting results.

For ardent gamblers, nothing beats betting on a superb platform that considers all your betting needs. 1xBit fits the bill as it allows you to bet on various gaming genres, all provided with competitive odds.

Register on 1xbit.com today and be part of the revolutionary Bitcoin betting experience.