Chalk

Another term for a bet. A wager is an agreement to risk money on the outcome of an event at agreed-upon odds. The term is commonly used in the United States and in formal or legal contexts related to sports betting.

A bet that is cancelled and the stake is returned to the bettor. Bets can be voided for various reasons including event cancellation, player withdrawal, or if the bet was placed in error. In accumulators, a voided selection is removed and the bet is recalculated with the remaining selections.

A virtual advantage or disadvantage applied to a team or player to level the playing field in a sporting event. For example, a -1.5 goal handicap means the team must win by 2 or more goals for the bet to win. Handicaps are used to create more balanced betting markets.

The amount of money a bettor risks on a single wager. Proper stake sizing is a critical component of bankroll management. Most professional bettors recommend risking between 1% and 5% of your total bankroll on any single bet to minimize the risk of ruin.

The advantage a bettor has over the bookmaker on a particular bet. An edge exists when the bettor's estimated probability of an outcome is higher than the implied probability of the odds offered. Finding and exploiting edges is the foundation of profitable betting.

The total amount returned to a bettor when a bet wins, including the original stake plus the profit. For example, a $10 bet at odds of 3.00 returns a payout of $30 ($10 stake + $20 profit). Payout is calculated as Stake x Odds in decimal format.