rebate shop n.— «Laurel Vice President Jim Mango traced the bet to the island of St. Kitts, site of a suspected rebate shop.» —“Rebates Knock Betting Off Track” by Andrew Beyer Washington Post Feb. 1, 2001...
rebate shop n. a gambling broker which guarantees to return a percentage of every bet to a bettor. (source: Double-Tongued Dictionary)
takeout n. the amount of each bet deducted by a horse-racing track to cover expenses. (source: Double-Tongued Dictionary)
whale n. a serious, heavily funded bettor; a high roller. (source: Double-Tongued Dictionary)
takeout n.— «In the Kentucky Derby on Saturday, for example, Churchill Downs will return to bettors at the track about 82 cents of every dollar wagered in the form of winnings. The remaining 18 cents, known as the takeout, will be used to...
rebate shop n.— «He bets through what are called rebate shops, which are off-shore, on Indian reservations or in states with fewer regulations. Rebate shops offer from 4 percent to 10 percent back on every dollar wagered—win or lose...