With the arrival of the web, many bookmakers (also called bookies) have found a new outlet. The recent explosion of online gambling sites has been linked to the increasing number in people with a gambling addiction. These websites however, only accept bets from countries where online gambling is not prohibited and from people who are over 18 years of age.

Fundamentally, gambling is not an exact science. Some of these words used in the betting jargon might be of some use to the first timers.

Bookmakers:

A bookmaker will usually create equal odds for the game in order to attract the same amount of wagers on both sides.

What’s the meaning of vigorish?

Also known as the cut, it’s the amount charged for a bookmaker’s service. By using this practice, the bookies make money off the wager regardless of the game’s outcome. By minimizing his risk, he collects a small amount from the vigorish.

Parlays

A parlay is a bet which strings across multiple point spreads and total scores to bring in a larger payout.

Exotic betting:

Exotic betting is a term usually used in horse racing. Unlike straight betting methods, in order to carry out exotic betting you will need an in-depth knowledge in handicapping information.

Ante post:

These bets are usually placed on the game before the runners are confirmed.

Point spread:

The point spread is the adjustment made in the final score of a game. This decision is usually left to the betting website or the bookies. In order to win a wager, a team must win the game by a point higher than given in the spread.

The reason behind the point spread is it makes it more attractive to the bettors to wage on the underdog of the two teams.

Spread betting:

Spread betting is used as a handicap for the beginners. The basic purpose is to create a balance on both sides of the wager. By using the spread method, the wager gains by placing a number of bets on the higher or lower sides rather than the outcome being either winning or losing. In any event, a strong team is put up against a weaker team, in this way the wagers placed on the strong team increases.

Correlated parlay:

Correlated parlay means there is correlation between the two outcomes. In a parlay, both the outcomes are separated while in a correlated parlay has only one result.

Betting on second half’s:

While betting on second half’s has its ups and downs. This strategy makes it hard to get multiple parlays and keeps the focus on straight bets.

List of the top five online betting games:

Baccarat:

Baccarat, also known as mini baccarat, it is a card game played in casinos throughout North America. The rules of this game are structured in such a way that the banker always has an upper hand over the wager. Being purely a game of chance the player’s moves depend on the cards being dealt.

Craps:

Craps, also known as shooting dice, is a dice game in which the bettors wage on the outcome of the dice throws. This game also is purely based on chance.

Online poker:

Online poker, by far is the most famous of the card games. The winner of this game is determined by the ranks of the player’s cards. Betting limits vary amongst different poker games. In this game the first player makes a forced bet and all other players follow making bets that their hand is the highest ranked.