In regards to betting terms, the companies providing games in the industry offer various odds for the games. Most of you know that you can tip the match winner, but more than that, there is a number of games that are more difficult to understand. Because of this, we have written a useful guide where different game terms that appear in betting and odds are explained. We hope that this guide will help you get better oriented in the world of betting. Take a further look at the betting terms.
The various betting terms and betting terminology
We feature betting terminology on horse racing, soccer, rugby and every sport under the sun. For all the bettors that are eager to take the plunge and place a bet on their first line, this guide it intended just for you. Betting Terms Explained. Here are some of the common terms that a new beginner wagering on sports games for the first time.
- Here's a look at some common sports betting terms someone new to the game might need to place those bets – and hopefully cash a few tickets. Accumulator – This is similar to a parlay in that it involves a series of bets in one wager. Each of the bets must win in order for the wager to win. If one leg of an accumulator loses the wager loses.
- Betting Exchange – A betting platform where people wager against one another instead of betting against a sportsbook. The exchange operator takes a small percentage of winning wagers. This is often seen as the most efficient market for sports betting. Betting Unit – A betting unit is the amount of a typical wager. Bettors may have different sized bankrolls and a unit is a way to share how much was bet without giving away a specific dollar amount.
The term 1X2
1X2 is among the most popular kinds of betting. You can bet on three different results in a match. In the case you bet one, you will be backing the home team. In the case you bet X you are wagering on a draw and in the case you bet two you will be supporting the visitor team. There are sports like tennis where you are not able to bet X as there are just two potential outcomes.
The term American odds
When it comes to betting terms explained, odds are presented in a special way in the USA. The format for American odds, also popular as Money line, could be either a positive or a negative number. The American odds will be negative in the case the points is 2.0 or lower in decimal format. A negative American odds shows you every time the amount you need to bet in order to win a hundred, the decimal odds equivalent of the minus two hundred American odds is 1.50.
You need to bet two hundred to win one hundred. If the decimal odds are more than 2.0, for example 4.0, then the American odds become positive, plus three hundred, this gives you information how much your net profit will be when you wager one hundred. Bear in mind that if, for example, the decimal odds are 2.0, then the American odds will be either minus hundred or plus hundred.
The betting terms betting exchange
A betting exchange behaves in a very similar way to the stock market, but you trade wagers instead of trading shares. Instead of wagering against your bookmaker, you wager against other players and players are those who set the odds. On a betting exchange, you have two betting options, you can either place a 'lay bet' – in this case, you place a bet against something to happen, or you can place a 'back bet' – in this instance you place a bet on something to happen. It is known that betting exchanges provide excellent odds. The biggest betting exchange in the world is Betfair.
The betting terms fractional, or British odds
In the United Kingdom, the odds are in fraction format, for example, 6/1, 11/4, ½. The easiest way to read fractional odds is when you look at the first digit as being the part you win and the other number as being the part you have to wager on. In regards to the odds of ½, you have to place a bet two to win one; these odds equal 1.50 in decimal format.
The betting terms both teams to score (BTTS)
This is one of the betting terms explained simply by the name; you wager on both teams to score in a certain game.
The betting terms combo bet/combination bet/accumulator
Combo bet is when you combine two or more wagers that when taken together make bigger odds. If you are to win the combo bet, you have to win all the selections you have made within the combo.
The betting term double
There are two selections within a double; it is a wager that multiplies the odds of two wagers into one.
The double chance betting term
Double chance is another variation on 1X2 meaning that you wager on two results in a game with three potential results. You can place your bet one 1X, X2 or twelve. If you wager on 1X, then you win when a home win or a tie occurs. If you wager on X2 then you win in case the visitor team wins or in case there is a tie. If you wager on twelve, then you win in case either the home or away team wins.
The DNB (draw no bet) term
Draw No Bet means you receive a refund for your stake if the game finishes in a draw. You wager on either the home or visitor team, however, if the game results in a draw, you receive your money back.
The decimal odds or European odds term
In Europe, there is a common use of decimal odds. If, for example, the decimal odds are 2.50 and you place a ten pounds bet on it and then you win, your total return will be ten pounds multiplied by 2.50 which equals twenty-five pounds.
The halftime/fulltime term
Betting Terms Explained Horse Racing
Whenever you wager on halftime/fulltime you have to predict the outcome of a game at halftime and fulltime. For instance, you can wager on the visitor team to have a lead at halftime and for the game to finish in a draw at the fulltime.
The handicap betting term
The handicap betting is a term of the betting terminology that has turned out to be much more common. Lately, the bookmaker gives the less strong side a virtual goal advantage so it can even up the market.
The live betting term
In regards to this one of the betting terms explained, these days most of the internet bookmakers provide live betting, meaning that you can wager on the ongoing game you choose. Understandably, there is a fluctuation of the odds all the time during the sporting event.
The ML (Money line) term
The money line comes in use when you wager on a contest winner where no point spread is used and the bettor only has to choose the winner, victory's margin is of no importance whatsoever. The term money line is in some situations spelled as moneyline.
The goal line (number of goals) term
The goal line bet is pretty much the same as the common under/over bet; the only difference is that it comes with more outcomes than simply lose or win. For instance, you will get a refund for your stake if the total of goals is the same as the goal line you have played. In addition, goal lines are appearing like this: 1.25, 1.75. If you wager on more than 1.25, this means that you have got half of your stake on more than one and also half of your stake on the more than 1.5 goal line. It means that if the game finishes with a single goal, you will receive half of your stake back because the more than 1 part is a push and you will also lose on the more than 1.5 part.
The over/under (number of goals) term
This is a very popular kind of betting; you simply have to place your bet on over or under a given number of goals in a particular game. For instance, you can place your bet on over 2.5 goals, or you can place it on under 2.5 goals. If in your opinion there will be two goals or less, you place your bet on under 2.5 goals. And if you believe that the game will be with three goals, you place your bet on over 2.5 goals.
The scorecast term
A scorecast bet is when you combine two bets. First, you have to properly choose the initial goal scorer (it is also possible to be the last goal scorer or a goal scorer from any time) and then you pick the right match outcome. Scorecast wagering is very appealing to novice players because of the probability of large returns on tiny bets.
The single bet term
This is a bet you place on only one choice or market. The betting experts highly suggest single bets as they provide larger winning percentages and they are quite likely the most secure and safe way to long-term winnings.
The arbitrage bet/ safe bet/sure bet term
The sure bet, also popular as arb or arbitrage bet, is a wager on an event which ensures a profit. This is possible because of the odds differences at various betting sites and by wagering on the difference outcomes on the bookmakers with the top odds you can get a guaranteed profit, no matter the result of the game. This kind of betting requires a huge bankroll as the average betting you get per single betting round is just 2.5 -3.0%. You have to keep in mind that bookmakers do nott welcome this at all and will promptly close or limit your account if they have any suspicions.
The timecast betting terms
A timecast bet is when you combine two predictions which are the first goal scorer and when exactly the goal will occur within the game. This kind of bet generates huge odds because it is tough to make an accurate prediction.
The units term
Units are a part of the betting terminology that are a measurement for the relativity of a bet. A unit equals a percentage of the total bankroll, which is usually one percent. The purpose of units is that players with different bankrolls can make a comparison between the sizes of their bets.
The valuebet term
A valuebet is when you think that the odds are larger than the exact probability of a certain outcome. Many players struggle to discover such odds where they assume that the bookmaker has mistakenly quoted the odds. For instance: in your opinion, England possesses a sixty percent chance of winning a home game against its opponent France. You discover odds of 2.00 offered for a home win, and now you have to see if the wager has value. When you use a simple formula, you make the calculation that 0.6 (60%) X 2.00 = 1.2, and because the result is more than one, it is in fact considered a value bet.
The void betting terms
Nfl Betting Terms Explained
This is any bet that was canceled because of some rule or a reason and when you get your stake refunded to your account.
The wincast term
This is a kind of bet where you can make a prediction for the first goal scorer (it could be any time or last) as well as a prediction for the winning team.
The winning margin bet betting terms
This is a kind of bet part of the betting terminology where you make a prediction about the extra number of goals by the winning team the match will be won with. For instance, if you have placed a bet on a winning margin of two goals, the team has to win with 2-0, 3-1, 4-2. It does not matter which team will win the game with the margin you have selected when you place a winning margin bet; it is enough only one of the teams to win with the chosen margin.
Just getting started with betting? If so, this betting term explainer guide is for you.
The betting industry is full of different betting terms and explanations making it quite confusing and sometimes offputting for any newbies out there. That's why we've put together this sports betting glossary to help you get started as quickly as possible and minimise any confusion you may have.
You can find the most common betting terms in the list below along with a short description. For more information on each term, click the link and you'll be taken to a more in-depth explanation.
To start with I recommend you look at the betting terms to do with placing bets and odds. These will help you get up and running so you can enjoy your betting experience from day one.
Accumulators
Accumulators or Accas are bets that combine four or more single bets. For this to be a winning bet, you need to land each selection of your accumulator.
These bets are very popular with football betting.
Ante-post
Ante-post refers to bets placed long before an event actually starts. These bets are often placed before a punter knows which runners will take part, in the aim of accessing increased odds.
For example, you might bet on the World Cup Winner or the Grand National before the runners have been announced. Punters place bets on runners that are likely to take part.
The purpose of this type of betting is to take advantage of favourable odds. The odds typically shorten in the run-up to the event.
Arbitrage betting
Arbitrage betting or arbing is a strategy in which gamblers bet on all possible outcomes at different odds to ensure a profit no matter what the result of the event is.
This betting method involves a number of calculations in order to work out suitable stakes.
Asian handicap
Asian handicaps are a method of betting that level the playing field between runners or teams. As the name suggests, Asian handicaps are often used in football betting in the Far East.
As opposed to normal handicaps, this format allows punters the option to bet on half numbers as well as whole numbers. Asian handicaps allow for ¼ goals, ½ goals and ¾ goals.
Bar
In a horse race, certain runners may have such an outside chance that their odds are not quoted before a race. Bar refers to the odds beyond which runners are not quoted. So '60-1′ bar means runners not quoted have odds at least 60/1.
Banker bet
This betting term refers to your favourite for an event. A banker bet is thought highly likely to win.
The betting terms both teams to score (BTTS)
This is one of the betting terms explained simply by the name; you wager on both teams to score in a certain game.
The betting terms combo bet/combination bet/accumulator
Combo bet is when you combine two or more wagers that when taken together make bigger odds. If you are to win the combo bet, you have to win all the selections you have made within the combo.
The betting term double
There are two selections within a double; it is a wager that multiplies the odds of two wagers into one.
The double chance betting term
Double chance is another variation on 1X2 meaning that you wager on two results in a game with three potential results. You can place your bet one 1X, X2 or twelve. If you wager on 1X, then you win when a home win or a tie occurs. If you wager on X2 then you win in case the visitor team wins or in case there is a tie. If you wager on twelve, then you win in case either the home or away team wins.
The DNB (draw no bet) term
Draw No Bet means you receive a refund for your stake if the game finishes in a draw. You wager on either the home or visitor team, however, if the game results in a draw, you receive your money back.
The decimal odds or European odds term
In Europe, there is a common use of decimal odds. If, for example, the decimal odds are 2.50 and you place a ten pounds bet on it and then you win, your total return will be ten pounds multiplied by 2.50 which equals twenty-five pounds.
The halftime/fulltime term
Betting Terms Explained Horse Racing
Whenever you wager on halftime/fulltime you have to predict the outcome of a game at halftime and fulltime. For instance, you can wager on the visitor team to have a lead at halftime and for the game to finish in a draw at the fulltime.
The handicap betting term
The handicap betting is a term of the betting terminology that has turned out to be much more common. Lately, the bookmaker gives the less strong side a virtual goal advantage so it can even up the market.
The live betting term
In regards to this one of the betting terms explained, these days most of the internet bookmakers provide live betting, meaning that you can wager on the ongoing game you choose. Understandably, there is a fluctuation of the odds all the time during the sporting event.
The ML (Money line) term
The money line comes in use when you wager on a contest winner where no point spread is used and the bettor only has to choose the winner, victory's margin is of no importance whatsoever. The term money line is in some situations spelled as moneyline.
The goal line (number of goals) term
The goal line bet is pretty much the same as the common under/over bet; the only difference is that it comes with more outcomes than simply lose or win. For instance, you will get a refund for your stake if the total of goals is the same as the goal line you have played. In addition, goal lines are appearing like this: 1.25, 1.75. If you wager on more than 1.25, this means that you have got half of your stake on more than one and also half of your stake on the more than 1.5 goal line. It means that if the game finishes with a single goal, you will receive half of your stake back because the more than 1 part is a push and you will also lose on the more than 1.5 part.
The over/under (number of goals) term
This is a very popular kind of betting; you simply have to place your bet on over or under a given number of goals in a particular game. For instance, you can place your bet on over 2.5 goals, or you can place it on under 2.5 goals. If in your opinion there will be two goals or less, you place your bet on under 2.5 goals. And if you believe that the game will be with three goals, you place your bet on over 2.5 goals.
The scorecast term
A scorecast bet is when you combine two bets. First, you have to properly choose the initial goal scorer (it is also possible to be the last goal scorer or a goal scorer from any time) and then you pick the right match outcome. Scorecast wagering is very appealing to novice players because of the probability of large returns on tiny bets.
The single bet term
This is a bet you place on only one choice or market. The betting experts highly suggest single bets as they provide larger winning percentages and they are quite likely the most secure and safe way to long-term winnings.
The arbitrage bet/ safe bet/sure bet term
The sure bet, also popular as arb or arbitrage bet, is a wager on an event which ensures a profit. This is possible because of the odds differences at various betting sites and by wagering on the difference outcomes on the bookmakers with the top odds you can get a guaranteed profit, no matter the result of the game. This kind of betting requires a huge bankroll as the average betting you get per single betting round is just 2.5 -3.0%. You have to keep in mind that bookmakers do nott welcome this at all and will promptly close or limit your account if they have any suspicions.
The timecast betting terms
A timecast bet is when you combine two predictions which are the first goal scorer and when exactly the goal will occur within the game. This kind of bet generates huge odds because it is tough to make an accurate prediction.
The units term
Units are a part of the betting terminology that are a measurement for the relativity of a bet. A unit equals a percentage of the total bankroll, which is usually one percent. The purpose of units is that players with different bankrolls can make a comparison between the sizes of their bets.
The valuebet term
A valuebet is when you think that the odds are larger than the exact probability of a certain outcome. Many players struggle to discover such odds where they assume that the bookmaker has mistakenly quoted the odds. For instance: in your opinion, England possesses a sixty percent chance of winning a home game against its opponent France. You discover odds of 2.00 offered for a home win, and now you have to see if the wager has value. When you use a simple formula, you make the calculation that 0.6 (60%) X 2.00 = 1.2, and because the result is more than one, it is in fact considered a value bet.
The void betting terms
Nfl Betting Terms Explained
This is any bet that was canceled because of some rule or a reason and when you get your stake refunded to your account.
The wincast term
This is a kind of bet where you can make a prediction for the first goal scorer (it could be any time or last) as well as a prediction for the winning team.
The winning margin bet betting terms
This is a kind of bet part of the betting terminology where you make a prediction about the extra number of goals by the winning team the match will be won with. For instance, if you have placed a bet on a winning margin of two goals, the team has to win with 2-0, 3-1, 4-2. It does not matter which team will win the game with the margin you have selected when you place a winning margin bet; it is enough only one of the teams to win with the chosen margin.
Just getting started with betting? If so, this betting term explainer guide is for you.
The betting industry is full of different betting terms and explanations making it quite confusing and sometimes offputting for any newbies out there. That's why we've put together this sports betting glossary to help you get started as quickly as possible and minimise any confusion you may have.
You can find the most common betting terms in the list below along with a short description. For more information on each term, click the link and you'll be taken to a more in-depth explanation.
To start with I recommend you look at the betting terms to do with placing bets and odds. These will help you get up and running so you can enjoy your betting experience from day one.
Accumulators
Accumulators or Accas are bets that combine four or more single bets. For this to be a winning bet, you need to land each selection of your accumulator.
These bets are very popular with football betting.
Ante-post
Ante-post refers to bets placed long before an event actually starts. These bets are often placed before a punter knows which runners will take part, in the aim of accessing increased odds.
For example, you might bet on the World Cup Winner or the Grand National before the runners have been announced. Punters place bets on runners that are likely to take part.
The purpose of this type of betting is to take advantage of favourable odds. The odds typically shorten in the run-up to the event.
Arbitrage betting
Arbitrage betting or arbing is a strategy in which gamblers bet on all possible outcomes at different odds to ensure a profit no matter what the result of the event is.
This betting method involves a number of calculations in order to work out suitable stakes.
Asian handicap
Asian handicaps are a method of betting that level the playing field between runners or teams. As the name suggests, Asian handicaps are often used in football betting in the Far East.
As opposed to normal handicaps, this format allows punters the option to bet on half numbers as well as whole numbers. Asian handicaps allow for ¼ goals, ½ goals and ¾ goals.
Bar
In a horse race, certain runners may have such an outside chance that their odds are not quoted before a race. Bar refers to the odds beyond which runners are not quoted. So '60-1′ bar means runners not quoted have odds at least 60/1.
Banker bet
This betting term refers to your favourite for an event. A banker bet is thought highly likely to win.
Bet
When a punter wagers a certain amount of money on an outcome to happen.
Betting exchange
A peer-to-peer online betting platform that matches gamblers together. They take on no bets as a traditional bookmaker does.
Bookmaker/Bookie
Bookmakers or bookies are licensed betting companies which provide odds and take bets from punters.
BTTS
Both teams to score or BTTS is a betting market in which both teams must score at least one goal during a fixture. BTTS is typically used in football betting.
Cash out
Cash out is a feature that allows punters to settle their bets before an event has finished. You can either lock in a profit or cut your losses if you feel your bet is heading the wrong way.
Most bookmakers offer some kind of cash out function in 2019.
Chalk
The chalk is another term for the favourite.
Clean sheet
A sporting term used to describe when a team do not concede a goal during a fixture. A clean sheet is a term that's typically used in football.
Combination bet
A combination bet consists of more than one selection. It differs from an accumulator in that if one selection loses, the remaining bets still stand.
Correct score
Correct score is a betting market in which the punter predicts the exact score of an outcome. It's often used in football betting.
Double bet
Similar to an accumulator, just with fewer selections. A double bet consists of two single selections in one bet. You need to land both selections to win this bet.
The odds of a double bet are calculated by multiplying the odds for the two single bets. These bets are popular as returns can be high.
Double chance
Double chance betting offers the possibility of two outcomes instead of the common three for a football match. It allows the punter to bet on a win or a draw.
If your selected team wins or draws, your bet wins. If your team loses, so does the bet.
Dutching
This betting term refers to selecting a number of different outcomes for one event in order to ensure the same amount of winnings if any of them win.
Each-way bet
Each way bets are a type of betting format that combines two bets in one. One part of the bet is for the win and the other part is to place. An each-way bet is settled as two bets and the place part is calculated at a fraction of the win odds.
Evens bet
A betting term for a 50/50 outcome. You'll also see this written as 2.00 in decimal odds. This bet is easy to work out as you'll win whatever your stake was. So if you bet £20, a winning bet would return £20.
Exposure
The amount of money a bookmaker or punter stands to lose. This is important when placing bets at a betting exchange.
Favourite
The most likely to win a certain event is called the favourite. The runner or player with the lowest odds.
In-play betting
In-play betting refers to when you place bets after an event has started. Most bookmakers allow you to do this and it's a very popular betting strategy in 2019.
Lay betting
Lay betting at an exchange is when you bet against an outcome. For example, you'd place a bet on Man City NOT to beat Leicester City.
These bets are only possible to place at betting exchanges.
Lengthen
Lengthen is a betting term that refers to when a bookmaker increases the odds for a certain market.
Multiples
Multiples are just another term for accumulators. They are bets that contain more than one selection and they're often used in football betting.
Odds on
Odds on refers to the favourite for a certain event. The odds are below evens (2.0 or 1/1).
Outright bet
An outright bet is one that's placed on the winner of a tournament. For example, you'd bet on the winner of the Rugby World Cup.
Outsider
An outsider is a runner, team or individual that is deemed unlikely to win an event. Outsiders have high odds.
Place bet
With a place bet, you're betting on a runner or player to finish in a certain position. This is generally used when betting on horse racing.
Price
The odds of a given market can also be referred to as the price.
Punter
An individual who places a wager on a certain outcome.
Request a bet
A relatively new feature that allows punters to build their own bets. The bookmaker must accept the bet and the odds for the bet to be placed.
Sharp bookmaker
A bookmaker that is used by professional punters.
Spread betting
This betting term refers to the process in which traders look to profit from market movements rather than the outcome of an event.
Underdog
The underdog is the opposite of the favourite. They're unlikely to win an event.
Void bet
In the case of a void bet, your selection is effectively cancelled. Your stake will be returned and you won't win or lose any money.
That's it for our list of betting terms. If you feel we've missed out some important terms, get in touch and we'll update the list above.
