Definition of Welch

What does the term "welch" mean in the world of betting? What is meant by the term "welch"?

When it comes to betting, a "welch" is somebody who doesn't pay out on a bet.

For instance - let's say that you make a $1,000 bet with your friend on the winner of the Super Bowl.

You take the Rams, and he takes the Bengals.

After the Rams win the game, your friend starts to look at backing out of the wager.

"I don't have the money right now"

"I was drunk when I made the bet"

If somebody makes a bet and doesn't pay out, this means that they are "welching" on the bet.

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This is why it is always a good idea to place your bets with actually sportsbooks instead of with individual people.

When it comes time to collect your bet, you'll want to make sure that you can actually receive it.