When it comes to sports betting, there are countless terms and phrases that you might come across. Some of which you might know, some of which you might not. But no matter how much or how little you know about the betting world, it’s important to keep your eye on the ball — or, in this case, the literal ball – the one that you’re on the hook for in case you win.
What Does Btts Mean in Betting?
Brain Team Takedown
One of the most recognizable terms in betting is ‘brain team’ which is typically made up of experienced betting analysts and calculators who use sophisticated software and a vast array of statistics to make accurate predictions about the outcome of sporting events.
This group of people is usually referred to as ‘traders’ and as the name would suggest, their job is to trade (that is to say, to buy and sell betting contracts) on the open market. So if you’ve ever wondered what those fancy-looking people in the sportsbooks at the casinos are doing all day, it’s because they’re trading on your behalf!
What Does Btts Mean in Betting?
The opposite of a brain team is an ‘army of fans’ which, as the name would suggest, is made up of passionate followers of a particular sports team. Armies of fans are sometimes known as ‘retainer groups’ because they often retain the services of sports analysts who work for the teams they support. So while the traders are busy analyzing stats and form, the fans are busy showing up at the games to cheer on their teams.
What Does Btts Mean in Betting?
Banker
Anyone who participates in sports betting knows that when there is a wide discrepancy between the spread (the amount of money that is wagered on a particular side) and the total (the total amount of money that is bet on that particular game) the ‘banker’ gets involved. This is typically a person (or persons) who operate the game (that is, set the lines for sports betting) and who have the duty of ensuring that all the bets that have been placed (that is, that the money is in fact placed) are settled. So if you’ve ever wondered who is responsible for making sure that your wagers are all taken care of, you’re looking at him (or her)!
What Does Btts Mean in Betting?
This responsibility can be a heavy one and the role of the banker can be a very stressful one. What happens is this: you may place a wager on whether the Chicago Cubs will beat the San Francisco Giants at any particular game. Now the odds may be 3-to-1 in the Cubs’ favor, so if you’re looking to make some money (legit or otherwise), you could potentially place a wager worth $100 on the Cubs. However, the lines may move in such a way that the total amount of money wagered on the game becomes $140 – in which case, the bank would be responsible for making up the $30 that you didn’t have. Not a pleasant prospect!
What Does Btts Mean in Betting?
Basis Of Comparison
When you compare two or more teams (that is, their “competitions” – for example, the Boston Red Sox and Tampa Bay Rays in the American League, or Manchester United and Liverpool in the English Premier League), you are performing a “basis of comparison”. This simply means that you are looking at the different aspects of the teams’ performances when they play against each other and comparing them to determine which is the best overall.
So if you want to compare the Red Sox and Rays, you would look at their games against each other (assuming of course that they’ve eachother), noting the results and then creating a list of pros and cons for each team. For example, the Red Sox have a significantly better offense than the Rays, but the latter have a much deeper roster (more players who can actually contribute).
What Does Btts Mean in Betting?
Bookmaker
If you follow sports betting closely, you might have heard of something called ‘bookmakers’. These are the people who, as the name would suggest, make the books for sports betting. But aside from the obvious fact that they are the ones who record your bets, ‘bookmakers’ also have a significant impact on the betting world. For instance, most sportsbooks will only take your wager if the total amount of money placed (that is, the sum of all the money wagered on the game) does not exceed a certain amount. This is to ensure that they aren’t held liable under the law for taking your wager. If the total amount of money placed does exceed the upper limit set by the bookmaker, they will, in most cases, withhold payment for expenses (like paying off the ‘brain team’ and settling with the ‘banker’ mentioned above) because the implied monetary value of the wager is less than what they’re “allowed” to take in (this varies by jurisdiction).
What Does Btts Mean in Betting?
Straddle
While you might think that comparing two teams in an effort to find the best one is an easy task, the fact is that there is more than one way to compare sports teams. One of these comparison methods is via ‘straddling’. Simply put, straddling is when you take a position on both sides of a given event (in this case, a matchup of two teams).
What Does Btts Mean in Betting?
In the case of straddling, you would be positioned either way depending on the outcome of the game. So if you’re feeling particularly adventurous (or perhaps, lucky), you could potentially make a killing whether your team wins or loses! Of course, straddling is generally only used in cases where there is a significant discrepancy between the spread (the amount of money that is wagered on a particular side) and the total (the total amount of money that is bet on that particular game). In most cases, it’s considered a worse idea to straddle than to bet on a single side, particularly if the odds are in your favor. However, certain types of games (like prop bets and parlay bets) are designed for exactly this type of situation and can, in fact, be used to great advantage by a skilled straddler!
Lay
As the name implies, a lay is when you place a wager without backing it up with any solid evidence. A common example of a lay would be if you bet on the favorite in an American Football game, even though you don’t know much about the opposing team or the game itself. While most people would consider this to be a reckless wager, there is more than one way to look at it. For one, you might consider it a test run. Perhaps you’ve always wanted to try your hand at sports betting but didn’t know how? By laying down a $10 bet on the Detroit Lions without knowing a thing about the Green Bay Packers, you’re giving yourself the opportunity to “learn by doing”.
What Does Btts Mean in Betting?
The most important thing to keep in mind about all of this jargon is that, as a general rule, betting-related terms tend to be used in a professional setting to refer to things that happen at the sports level. That is to say, the terms above wouldn’t typically be used in everyday conversation, unless perhaps you were discussing your latest sports wager or the merits of a particular team (in which case, the fans might be inclined to cut you some slack!).