ACTION-Wager
AGENT-Person that sends players to books for commission
AWOL-Person that skips town on their book without paying
BACK DOOR COVER-A team comes back in the end to cover the spread
BAD BEAT-Sure winner turned to a loser
BANKROLL or BR-Your gambling money
BEARD-Person making wager for a wiseguy
BEEF-A dispute over the outcome of a bet
BM-Bookmaker
BOOKIE-Person who takes bets or "action"
BONUS-Addition to your deposit. Usually 10%-20%
BUCK-$100 wager
CHALK-Favored team
CHALK PLAYER-Bettor who almost always plays favorites
CIRCLED GAME-A game in which limits may be limited due to an injury, uncertainty of a player's status, or inclement weather
CLONE JOINT-A book that copies others lines
COVER-Beating the spread
DAILY DOUBLE-Horse/Dog racing wager in which you must pick the winner in consecutive races
DEGENERATE-Compulsive gambler
DIME-$1000
DIMELINE-10c separating the fav from the dog. Much better value than a 20c line!  

DOG-Team getting points or getting + odds
DOLLAR-$100
EVEN MONEY-No odds or vig
EXACTA-Horse/Dog racing wager in which you must select 1st and 2nd place in exact order
EXOTIC WAGER-Usually refers to a proposition wager
FORM-A tabloid used for horse racing
FORUM-Place where gamblers congregate to discuss the upcoming games
FUTURES-Wager in which your gambling on the result of a team relative to season wins, standings, playoff finish etc
GAMBLING-Wagering money with the intention of profiting more money.
GETTING DOWN-Placing a wager or bet
HANDICAPPER-Person who analyzes games and predicts outcomes on sporting events
HANDLE-Total amount of money wagered
HEDGING-The placing of a bet on the other side in order to cut losses or guarantee profit on a wager
HOOK-1/2 point
JUICE-Book commission
LAYING POINTS-Playing the favorite
LAYOFF-Money bet by a house with another bookmaker to reduce its liability
LIMIT-Maximum amount of money accepted for one wager
LINE-Odds or spread on a game
LISTED PITCHER-You do this when you want guaranteed action on a game. If the listed pitcher does not start your game is no action. Conversley, if you list a game as action you get whatever pitchers start
LINEMAKER-The person or group that establishes the line, spread, or odds
LOCK-Guaranteed winner
MATADOR-A cover that occurs in the waning moments of a game (also referred to as a back door cover)
MIDDLER-Gambler that takes both sides of a game hoping for result to land in middle
MUSH-A better who is bad luck
NICKEL-$500
ODDSMAKER-The person or group that establishes the line, spread, or odds
OTB or OFF THE BOARD-A game the book is not currently accepting action on. OTB is usually due to the uncertainty of the status of a player or inclement weather
OVERLAY-A situation in which the odds on a game favor the bettors rather than the house
PARLAY-A wager in which you get enhanced odds however all games in your "parlay" must win or your ticket is void
PAST POST-To place a wager after an event has started
PICKEM-Wager in which the pointspread is zero
PLACE-Horse/Dog racing wager in which your selection must come in 1st or 2nd place in order to cash
POINTSPREAD-The betting line
PRICE-Odds or spread
REDUCED VIG-A wager in which your laying less than the standard -110
PUPPY-Underdog
PUSH-Tie on wager
QUINELLA-Horse/Dog racing wager in which your two selections must come in 1st and 2nd place
ROUND ROBIN-A single ticket comprised of more than one parlay. Same as "boxing" in horse racing.
SCALPER-Gambler making a play on low odds favorite then finding higher odds underdog on same game resulting in no risk wagering
SERVICE-Handicapper(s) that sells opinions, analysis, and picks
SHARP-Astute bettor
SIDE-Picking a team to win (non total wager)
SHOW-Horse/Dog racing wager in which your selection must come in at least 3rd place in order to receive payout
SQUARE-Player that is always on favorites and overs. Also known as a gambling fool.
STEAM-Large amount of money being wagered on one side usually from a wiseguy
STRAIGHT BET-One wager (opposed to a parlay)
SUCKER BET-Parlays, teasers or exotics (anything bookmakers use to entice squares to bet more)
TAKING A PRICE-Betting an underdog
TEASER-Multi game card in which you can move the spread X amount of points (points and odds vary)
TOUT-Handicapper that sells opinions, analysis, and picks
TOTAL-Wager on the over/under in a game
TRIFECTA-Horse/Dog racing wager in which your three selections must come in 1st, 2nd, and 3rd respectively
UNDERLAY-A situation in which the odds on a game favor the house rather than bettors
VIGORISH-Amount of commission kept by the house (also referred to as juice or vig)
WIN-Horse/Dog racing wager in which your selection must win in order to cash on your selection
WISEGUY-The "steam" creator; sharp bettor; gambling pro.