What is an Octopus in Betting: Betting Terms Explained

The gambling industry is developing so quickly that it’s getting hard to keep track of its vocabulary. However, it’s a worthy effort for any player because new options come with better winning opportunities – especially if you know your sport quite well. 

Take low-deposit casinos in Australia as an example. If you follow this niche, you know that it’s possible to make a $5 bet on some of the best gambling websites in the country. The ones you’ll see on this Aussielowdepositcasino list offer this kind of stuff – from minimalistic depositing requirements to the best bonuses in the business. This isn’t just a local trend because gambling providers all over the place create fresh betting options to engage knowledgeable clients. Octopus betting is one of them.

Octopus in Betting and Other Sport Betting Terms

Octopus is a pretty new concept in football betting (not to be mistaken with the real football, the one they call soccer in the US). According to media reports, it dates back to 2019 when sports journalists used the term to describe a rare feat in football. We are talking about a player who scores a touchdown just to move on and win a couple of extra points in the ensuing action. 

We did some media research to see the actual numbers. It turns out that NFL footballers made fewer than 200 Octopus plays in the last 30 years. On average, this makes some six Octopus plays during a single season consisting of 272 games. So yeah, it’s a pretty big deal in the colorful world of sports wagering. 

On the other hand, the sheer rarity of the achievement makes it difficult to win your bet. It probably pays off much more to visit the Bizzo online casino and play some games there. The RTP is 95.5% with many payment options and bonuses available, so you can probably make money faster than betting on Octopus. 

Sports Betting Slang

A colorful world of sports wagering has some pretty weird concepts, especially in their slang variants. However, knowing them might also help you make informed bets on certain occasions. 

  1. Sharp Money: Knowledgeable bettors who place quite big wagers.
  2. Bookie: Short for bookmaker, aka the person or organization accepting bets.
  3. Chalk: Refers to the favored team or player.
  4. Underdog: The team or player less likely to win, offering higher potential payouts.
  5. ATS (Against the Spread): Betting on the point spread outcome, not the outright winner.
  6. Juice: The commission or fee a bookmaker takes on a bet; also known as vigorish or vig.
  7. Handle: The total amount of money wagered on a specific event.
  8. Parlay: A bet combining multiple individual bets for higher odds; all must win for the overall bet to succeed.
  9. Hedging: Placing bets on the opposite side to minimize losses or secure profits.
  10. Total (Over/Under): Will the overall score be higher or lower than the number set by your bookie?
  11. Steam: Rapid and significant line movement, often due to heavy betting activity.
  12. Dime Line: A 10-cent difference between the odds for the favorite and underdog.
  13. Push: A tie between the bettor and the bookmaker; the stake is usually returned.
  14. Lock: A bet believed to be certain to win.
  15. Live Betting (In-Play Betting): Placing bets on a game in progress.
  16. Square: Inexperienced or casual bettors.
  17. Bankroll: The total amount of money a bettor has available for betting.
  18. Futures: Betting on an event that will occur in the future, such as championship winners.
  19. Puppy: Another term for an underdog.
  20. Handle: The total amount of money wagered by bettors on a specific event or over a specific time.

Online Betting Slang

We can dig even deeper to uncover the nuances of online betting slang. It is still developing, but we can already spot some nice terms that make it extremely interesting (at least from our perspective).

For instance, cashing out is a well-known concept for those who tend to settle a bet before the event ends. They do this to secure a partial win or minimize losses, which is a fairly known tactic among football fans who watch matches and bet live. That’s also how we get to in-play markets – betting options available while a game is in progress.

There’s also the cryptocurrency wagering. You know how this works even if you haven’t tested it yet – the idea is to place bets using digital currencies such as Bitcoin. You could also roll over to meet the requirements to unlock a bonus or simply withdraw your winnings.

Make the Most of All Betting Options

Octopus as a wagering concept is interesting, but it’s hard (if not impossible) to predict. That’s why it guarantees high payouts, but you can go easier on your bets and seize advantage of more modest but also more realistic options. The bottom line is that you have plenty of options, so have fun choosing the right one.