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Sports Betting Glossary

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Take the Points	A bet on the underdog in a point spread event.
Take the Price	A bet on the underdog.
Taking	Wagering on the underdog; taking the odds.
Tapped Out	Broke, busted, common result of pressing.
Teaser	US term for a bet based on the point spread where the punter can adjust the line in his favour in return of reduced odds.
"The Man"	Bookmaker.
Theoretical Hold Percentage	The edge the bookmaker would have if the odds guaranteed him a constant commission regardless of the outcome.
Tic-tac	The sign language with which bookmakers on the racecourse communicate.
Tie	Another term for draw.
Tips	Betting selections chosen by an expert.
Tipster	A person who sells to punters his selections on sports events.
Toke	A tip or gratuity.
Toss Up	Game where the line is close to pick-em.
Totals	US term for over/under bets.
Tote	A form of pool based betting system. All the money bet on the Tote for an event is split between all the people who bet on the winner.
Tout	US term for tipster.
Tout Service	A business that sells opinions on sporting events.
Treble	A bet in which you make three selections, and all must come in for the bet to be successful - e.g. three winners in three races. The proceeds from the first bet are carried forward as stake onto the next bet and so in - until a horse loses, in which case all the money is lost. Of course, all 3 may win, in which case the odds are multiplied together to calculate your winnings.
Trifecta	A bet where you choose three selections which will finish first, second and third in an event and say in which order. All three must come in for a return.
Triple Sharp	The sharpest of the sharp. (Note: There is no such term as "Double Sharp").
Trixie	Four bets based abound three selections, a treble and three doubles. In other words, a patent without the singles. At least two bets must come in to get a return.