Ever since betting became legal in the early 1930s, America’s greatest game has been wagered on. When the NFL and AFL merged in 1970, betting enthusiasts began licking their lips as the merger provided fans the opportunity to bet on more games and cheer for more players. By allowing more teams to join the NFL, more terminology was created that only the most experienced NFL bettors would understand. To combat that, online sportsbooks have made it part of their business to teach new gamblers the basics by creating glossaries for them to reference.

Today we look at 10 key terms from the NFL betting glossary that will help make you an expert in no time.

A)    Chalk - The favorite in a game.

B)    Bad Beat - a tough loss. This is a term said when your team loses in the final few minutes of the game after giving up a lead.

C)    Cover- Winning by more than the point spread.

D)    Extension - Amount of money the house is willing to lose.

E)     Firing - Dropping a large bet on a team.

F)     Handicapper- A bettor who studies the odds and possible outcomes before they place bets.

G)    Home Field Advantage - The theoretical edge the home team should have against an opponent. In football, a team with home field advantage ideally knows things about the field better then the opponent.

H)    Layoff Bet - When two bookmakers collaborate to make a bet equal by reducing the risks.

I)       Long shot- A huge underdog. For instance when the Super Bowl champion plays the worst place team the following year, the worst place team is seen as a long shot to upset the champions.

J)       Square - A new gambler who knows very little. Usually seen as a derogatory name to call a new gambler.