Definition of Chalkeater
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What does the term "chalkeater" mean in the world of sports betting? What is the definition of the term "chalkeater"?
In sports betting, a "chalkeater" is a person who only bets on favorites. The skills sports bettor will look for situations where an underdog is providing good value, while "chalkeaters" will strictly be on the favorites. In most cases, "chalkeaters" are the amateur players who sports books make all of their profits from.
Let's say that the New England Patriots are playing at home against the Jacksonville Jaguars. The New England Patriots are 1.20 straight up to win, while the Jaguars are 5.80 to win on the road.
The "chalkeater" will say - "there is no way that Brady and the Patriots will lose at home - not against the Jaguars. I'm betting on them at 1.20."
This is the fastest way for amateur gamblers to lose their money - a seasoned gambler will never bet on a line such as this. The seasoned gambler will either look for another situation or consider taking the Jags, if he/she feels that there is good value in doing so.