Common betting terms you need to know... 

For your reference, here are some definitions of the different terms you might need to know when making your MMA or sports bets:
 
Bookie: These are the folks that take your bet.  Usually less than professional and much happier taking your money than paying it. 
 
Chalk: The expected winner of the fight, and usually the guy with the best odds; almost always negative odds
 
Dog: The guy that is not expected to win - the Underdog.  Usually has positive odds, and if you've done your research, you can cash in big time if he wins.
 
Edge: What you know over what the sportsbooks know about the upcoming fight.  The more of an edge you have, the better the chances that you will walk away with some green in your jeans, all because you took the time to research the fighters.
 
Even Money (EVN): When two fighters are evenly matched, it's even money if either one wins. 
 
Favorite: The fighter that is expected to win - and almost always with odds that just aren't worth it.  If the risk is too much for too little reward, wait for a fight that gives you a better chance of figuring it out.
 
Handle: This is the value of all of the bets put on one sportsbook for one particular fight. 
 
Limit: This is the most that you can bet at your sportsbook.  This is to ensure that you don't lose too much, as well as allow the house to limit how much they have to pay out.
 
Line: The odds, or moneyline, of a fight. 
 
Moneyline: This is how you can tell which fighter the sportsbook figures will win.  These are expressed in positive and negative values.   Negative numbers indicate that the fighter is expect to win the match, positive values mean they think he's the underdog.
 
Odds: This is the info that determines how the bets will be placed.  The better the odds, the less likely that the fighters are matched evenly.  
 
Opened: This is what the monelyline was when it first opened.  The moneyline will shift as you get closer to the day of the fight.
 
Parlay: This is a good opportunity to make some serious cash, but you have to be exactly right on your fight predictions. Once all of your fighters win, you will often get a multiplier of your initial bet.  This is much easier explained that it is done - good luck!
 
Push: A draw - no fighter is crowned winner, and your money is given back to you.
 
Sportsbook: The online website that will determine the value of the moneyline, as well as where you can actually place your beet.
 
Underdog: The fighter that is not the favorite.  Usually with + odds.  When betting on the underdog, be sure you have all of the applicable research that shows how and why he will win.
 
If you'd like to bet on the next big MMA fight, check out our guide on betting on mixed martial arts or check out the home page for the best UFC odds.