IBF

International Boxing Federation

Juice

The bookmaker's commission on a losing bet, also known as "vigorish."

Laying the points

Betting the favorite by giving up points. 

Laying the price

Betting the favorite by laying money odds.

Limit

The maximum a bookmaker will allow you to bet before he changes the odds and/or the points.

Line

The current odds or point spread on a particular event.

Linemaker

The person who establishes the original and subsequent betting lines.

Listed Pitchers

In baseball wagering, a bet which will be placed only if both of the pitchers scheduled to start a game actually start. If they don't, the bet is cancelled.

Lock

A supposedly "can't lose" wager.

Longshot

A team perceived to be unlikely to win.

MLB

Major Baseball League (divided into two leagues: the National and the American)

Money line

Odds expressed in terms of money. With money odds, whenever there is a minus (-) you lay that amount to win a hundred dollars, where there is a plus (+) you get that amount for every hundred dollars wagered. This is always a straight bet.

Move the line

A player pays an additional price to receive half a point or more in his favor on a point spread game. See "buy."

MVP

Most Valuable Player. An award given to the best regular-season players and to the outstanding player in championship games or series.

NBA

National Basketball Association

College Football

National Collegiate Athletic Association

Newspaper line

The betting line which quite often appears in the daily newspapers. The lines are only approximate and quite often completely inaccurate and misleading.

NFC

National Football Conference

NFL

National Football League (divided into American Football Conference and National Football Conference).

NHL

National Hockey League (teams divided into Eastern Conference and Western Conference).

Nickel

$500.00

NIT

National Invitational Tournament.

No action

A bet in which no money is lost nor won. See "push."