by Farid Karimov

arbitrage - risk-free bet

bank - a sum of money used for wagering

bettor - a person who bets money on the outcomes of different events

capper - a person who sells his betting advice

favourite - a player or a team that according to a bookmaker has more chances to win

handicap - a bet on the difference of something

line - all the events and odds given by a bookmaker

odds - numerically expressed possibility of winning given by a bookmaker

outsider - a player or a team that according to a bookmaker has fewer chances to win

parlay - a combination of straight bets, in order to win a parlay all the bets in it should win

stake - sum of money risked by a bettor to win a larger sum

straight bet - bet on the outcome of only 1 event

total - a kind of bet

vigorish (juice) - percent, taken by a bookmaker

Article courtesy Farid Karimov from BettingInfo.NET