Sports betting has always been a huge aspect of human culture and society. The truth is, for as long as people compete in sports for fun, there will be those who wager on said sports. However, recently, sports betting has achieved a level of popularity unlike ever before.
Online Sportsbooks
The main reason for this is that online bookies have grown a lot more successful. For those who don’t know, sports betting websites are platforms that list odds on different sports, and allow fans to place bets on said odds. Indeed, these websites have become so popular, that many phrases used here have entered the popular vernacular.
Since betting online is becoming a lot more popular, it is important to help people understand sportsbooks, and sports betting. To do this, we have to take a look at some popular terminology that has entered popular speech, and explain where exactly it comes from.
Betting the Farm
“Betting the farm” is a phrase commonly used by high-risk punters. In betting circles, it means risking your whole bankroll on one, big bet. However, when used in popular parlance, “Betting the farm” means taking a risk, that will have financial repercussions. For example, a person leaving a stable job to pursue a dream career could be said that they are “betting the farm” on this new endeavor.
Long Shot
We’ve all said “long shot” in our life once or twice. When most people say that something is a “long shot,” they mean that the likelihood of said thing coming true is quite low. In betting, it largely means the same thing. When a player or team is said to be a “long shot,” it means that they are very unlikely to win the match that they are scheduled to play.
Underdog
The underdog is another common term you’ve heard used in common parlance. In betting, it is usually used to refer to the team or player that is less likely to win the match. However, when used in popular speech, “the underdog” refers to a person who is fighting against the odds, yet isn’t backing down. Sometimes, it is used as a derogatory term, but for the most part it is a compliment.
Even Money
In betting, the phrase “even money” means that the outcome of the game is uncertain, due to the probability of both teams winning is equal. However, when used in modern speech, the phrase just means that there is an equal chance of two things coming true. For example, if somebody is uncertain whether they can make a social gathering, they’ll say that them being there is “even money.”
Lock
“That’s a lock,” is a phrase that we all have heard a few times in our lives. We say it when we are certain that something is going to happen. For example, if somebody were to say, “it will rain tomorrow, and that is a lock!” they mean that it will certainly rain tomorrow. The term comes from sports betting, where it means that the likelihood of an outcome is close to certain.