Eavesdropping on veteran bettors can be confusing if you’re new to the scene. There is a special vernacular associated with sports betting, poker, and table games. We’re going to cover some of our favorite terms and sayings each week and share them with you! Got a favorite word or saying you’d like to add to the list? Hit the comments and let us know.
Vigorish is just fancy talk that means the same thing as “the juice.” What’s “the juice” you ask? It’s simply the cut the bookmaker takes on losing bets. You’ll often see moneyline odds listed in the sportsbook as -110 to 100 for a win/lose proposition on the outcome.
Let’s say the Patriots are listed as -110 to +100 moneyline bet. This means that if you bet on them to win, you put in $110 and if they win, you make $210. If they lose the game you lose your $110. On the other side of that bet, is another bettor who is risking $110 to win $210 if they lose. In effect there is $220 in total wagers, but the house only pays out $210 to the winner.
The $10 left over is the vigorish that goes to the book for facilitating the wager. This is an example of fair odds betting. The goal of the sportsbook is to set the moneyline so that they get equal action on both sides. This puts their risk at zero and they simply make the commission, or vigorish, off of each losing bet.
Similar terms: the juice, the vig, cut, take
Now you can impress your date with this new-found knowledge! Just don’t promise a vigorish back rub. That would be weird.
This is a pretty common saying you’ll hear often at table games and poker games. Coloring up is the simple act of consolidating your low value chips into fewer high value chips. Each denomination has a different color associated with the value. Hence the term “color up.”
Example: Suppose you have 5 $1 pink chips, 4 $5 red chips, and 3 pink & green $25 chips. If you ask to color up, the dealer will take all your chips and return you one $100 black chip, as pictured above.
It’s common to color up before leaving the table, so you don’t have to walk to the next game or the cage with pockets full of chips. During poker play you can also color up your stack so that it’s more manageable and easier to gauge wagers.
Example usage: “Hey bro, let’s color up our roulette winnings and go hit the blackjack tables!”
This term is most commonly heard in a craps game. Boxcars refers to a pair of sixes on traditional dice. Aligning the dice with the dots running horizontally resembles two boxcars on a railroad track.
You may hear the stickman call boxcars when a pair of sixes are rolled. You can also use the term boxcars to bet on a 12 being rolled. This is a high paying bet usually with 30:1 odds.
Similar terms: Midnight, cornrows, 12 craps
If you have a word or term you’d like explained, or have a favorite your want to share, be sure to hit up the comments and we’ll include it in a future post.
Stay lucky and we’ll see you in the pit!