In sports betting, “chalk” refers to the favorite in an event, typically characterized by lower odds and a higher probability of winning.
A futures bet is a wager placed on the outcome of an event occurring in the future, often weeks or months ahead, such as predicting the winner of a championship or league.
Handicap betting assigns a virtual advantage or disadvantage to a team or player to level the odds and create a more balanced betting market.
In-play betting allows bettors to place wagers on a sporting event while it is happening, with odds that fluctuate based on the real-time events of the game.
Juice, or vig, is the commission that bookmakers charge on bets, ensuring they make a profit regardless of the outcome of an event.