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ROUND ROBIN — A series of parlay bets.

RUNDOWN — A complete update of the lines, usually in one particular sport, but conceivably covering everything on the board. This usually happens when a player calls a bookmaker at his office – he will ask for a “rundown” and the bookmaker (or his clerk) will read the lines.

RUNNER — This is generally the same as a beard, although in some cases, like in Las Vegas, it could be someone who goes from sportsbook to sportsbook grabbing the lines and feeding them into a central source.

SCRATCH — A cancellation. Most often used in horse racing, but may also refer to a player not appearing in a particular game.

SHARP — A wise player.

SIDE — When betting both sides of a proposition, to win on one side and tie on the other side. It’s half as good as a middle.

SMART MONEY — This represents the wagers made by people who are thought to possess the most expertise, i.e., the “wise guys.”
SQUARE — An unsophisticated bettor.

STEAM — A heavy volume of action on a game. It tends to move the line, because it comes in very quickly.

STORE — A bookmaker’s operation.

SUCKER BET — A wager where the house is at a huge advantage.

TAPPED OUT — Broke. Out of money.

TOUT — A handicapper that makes his plays in public, often selling such a service.

UNDERLAY — A proposition where the odds greatly favor the bookmaker.

WISE GUY — A sports bettor who is smarter and sharper than the vast majority of other bettors.

VIGORISH — The commission the bookmaker retains from taking a sports bet.