Sports Betting Glossary and Terminology 

Accumulator

A term for a single bet with multiple selections. For gamblers to win an accumulator, all selections must be accurate.

Acca Insurance

A type of promotion in accumulator bet. In an Acca Insurance, players can keep a portion of their stake if the bet loses by a single bet.

Alphabet

Alphabet is a system bet with a total number of 26 bets divided into six selections. An alphabet consists of the following six selections: 1 sixfold accumulator, one Yankee bet, and two Patent bets.

Arbitrage

This is a risky strategy for getting profits by stacking multiple odds with different bookmakers.

American Odds

Largely preferred by American bookmakers, and it is quite common in American sports bets.

Ante Post

An Ante Post is a bet placed before the betting period, especially in horse and greyhound. Gamblers must place this bet at least 24 hours before the betting period.

Asian Goal Line

A type of bet that requires players to predict the number of goals in a football match.

Asian Handicap

A handicap bet popular in Asian countries.

B

Backer

Another term for a wager or bet. It means staking an amount on an outcome in a sports bet.

Banker

A bet with a high chance of winning.

Bar Price

In early betting, a Bar Price is the minimum odds for a runner in a race without a price quote.

Beard

The act of placing a bet on behalf of another player or gambler in a sports bet. Players perform a beard to hide the identity of the real player.

Bet

The act of staking a certain amount of cash on a predicted outcome. Money is the most common stake in sports betting.

Bet Slip

A physical or digital document that contains data on all placed bets. Most bet slips provide information on expected earnings from the bets.

Best Odds Guaranteed

A term commonly used in horse racing, and it means you have a high chance of getting the best outcome.

Bet Calculator

A feature available on most online sports betting platforms for calculating bet returns. Players can also use this feature to provide probability based on different odds types.

Bet Builder

A tool that enables players to build their own bet combinations from a wide selection of combinations. Bookmakers are typically responsible for providing this tool to players.

Betting Exchange

A platform where users can place bets against other users’ bets. This is different from conventional betting operations where players can bet against the house.

Betting Market

A term for describing all types of bet on a betting platform. In addition, this term can also refer to a specific bet category or individual bet.

Betting Odd

The proposed probability of an outcome. Bookmakers are in charge of deciding the odds for an outcome.

Betting Ring

A region at a race course allocated to bookmakers. This term is often used in horse and greyhound racing.

Betting Limits

The minimum or maximum amount you can bet. Most times, bookmakers decide the betting limit for a sport.

Bismarck

An unpopular phrase in sports betting, Bismarck describes a situation when bookmakers expect the favorites to lose. During a Bismarck, bookmakers often increase the betting limit and offer numerous bonuses to encourage players to place bets on the favorites.

Bookmakers

Bookmakers are operators responsible for providing the betting market and calculating the odds. Furthermore, they are the “house” that you are betting against.

Booking Point

A football-based betting market that enables players to place bets on the number of yellow or red cards issued in a game.

Both Teams to Score

A betting market that allows you to win if both teams score before the end of a match. The winner of the game is irrelevant in this game.

Both Teams to Score and Win

A double bet in which the players expects both teams to score, and for a selected team to win the game. Typically, this generates an attractive odd on most sports betting platforms.

Bottle

Another name for 2/1 odds.

C

Cash Back Bonus

A type of risk-free bet in which gamblers receive their bet money back if the game is lost.

Cash Bonus

A cash amount returned to the gambler for taking a particular action on a betting platform. This is an alternative to promotions, such as free bet.

Canadian

This is a system bet that consists of five different events, and a total of 26 bets. Also referred to as Super Yankee, a Canadian is made up of one 5-fold, 10 trebles, five 4-folds, and ten doubles.

Carpet

Another name for a 3/1 odd. This slang is common in the UK sport betting markets.

Cryptocurrency Betting Sites

Betting platforms that accept cryptocurrency as a payment or withdrawal option. Bitcoin or USDT is often the most accepted cryptocurrency on these platforms.

Correct Score Betting

A type of bet that requires players to predict the exact score. There’s no error margin in a correct score betting.

Corners Match Bet

A type of bet in which you predict the team with the highest number of corners in a game. Players often place these bets due to a larger error margin.

Cash Out

An online tool for receiving your earnings before the market ends. There are different types of cash outs on most betting platforms. For example, some operators allow users to cash out a percentage of their earnings, while others enable you to cash out when the offer hits a certain amount.

Chalk

A term often used in horse racing to describe a favorite in a race.

Clean Sheet

Clean Sheets occur when football teams do not concede any goal. Players can stake a bet on the probability of a clean sheet in a match.

D

Deposit Methods

The method of adding funds to a betting account. Betting platforms use different despot methods, from debit/credit card transfers to direct bank transfers. Cryptocurrency is also a now-popular deposit method in most platforms.

Decimal Odds

Quite common in European betting platforms, decimal odds calculate probabilities as decimal points.

Double

A sports bet consisting of two different selections. Double bets are successful when both predictions are correct.

Draw No Bet

Under the Draw No Bet rules, players will receive their stakes if the game ends in a draw. Draw No Bets often have smaller odds.

Double Chance

There are three options for players in a three-way market - for the match to end in a draw, for the home team to win, or for the away team to win. A Double Chance bet, however, allows players to pick two outcomes out of three options, and win if either predictions are accurate.

Drift

An increase in the betting odds.

Dutching

A betting strategy in which players place a bet on both the favorite and second-favorite. Dutching is quite common in racing markets due to the activity of multiple participants.

Each Way

An each-way bet is a double bet in which players place bets for the selection to get a rank, and for the selection to win. Each-way bets are mostly common in horse racing markets.

Edge

A perceived advantage over the odds in a game.

Esports

A sports game based on video games. Esports are now popular with major bookmakers. Examples of Esports are the League of Legends and Counter-Strike.

Enhanced Odds

These are odds with the possibility of higher returns. Bookmakers offer enhanced odds promotion in certain betting markets.

European handicap

A type of handicap betting that provides a draw option. European handicap bets have a similar concept to Asian handicap betting.

Exposure

The estimated amount bookmakers may lose during a sports event.

Expected Goal

A set of rules, based on historical data, used in predicting the probability of a shot resulting in a goal.

E-wallet

A deposit method for online deposit and withdrawal of funds.

F

Fold

A number that shows the size of an accumulator.

Forecast Betting

A bet for predicting the first and second place position for a sports event. Forecast betting is common in racing events.

Fractional Odds

Fractional odds are commonly found in European betting sites. Unlike decimal odds, the odds use fractions to represent probabilities.For example, a ⅕ odds is the same as a 83.3 percent probability.

Free Bet

A promotional offer that enables players to place bets without staking any amount. Note that free bet offers are subject to the operator’s terms and conditions.

Full-Time Result

Full-time results enable gamblers to predict the winning team at the end of a match. In addition, players can also predict if the game will end in a draw.

G

GamCare

An organization that provides mental support for gambling addicts in the UK. Players can find their contact details on most UK betting sites.

Goalscorer

In a goalscorer bet, players predict a player or any teammate to score during a match. There are different types of goalscorer bets in the betting market. For example, the first goalscorer bet is a prediction on the first team to score the first goal. In contrast, gamblers can use the anytime goalscorer bet to predict a player scoring a goal during the match.

Goliath

A bet consisting of 8 selections in different events, and a total of 247 bets. Goliath bet includes an accumulator, 70 4-folds, 28 doubles, 56 5-folds, 56 trebles, 8 7-folds, and 28 6-folds. Players can win a Goliath bet by winning at least two of the selections.

H

Half Time Result

A bet to predict the winning team at the end of the first half.

Half Time Full Time

A double bet that requires gamblers to predict the half-time and full-time result. Note that the Half Time Full Time bet is successful when both predictions are accurate.

Half Time Score

A betting market that requires players to accurately predict the exact score at the end of a first half.

Half with Most Goals

Betting on which half of the match will have the most goals. This time, players are not betting on a particular team.

Hedging

The act of placing different bets to minimize the risk of losing.

Heinz

A bet consisting of six selections in different events, featuring an overall of 57 bets. Heinz bets include one 6-fold, 20 trebles, six 5-folds, 15 doubles, and 15 4-folds.

I

IBAS

An abbreviation for the Independent Betting Adjudication Service. The IBAS is an organization that resolves disputes between betting operators or bookmakers and players.

Implied Probability

Bookmakers use Implied Probability to measure how likely a prediction will happen.

J

Joint-Favorites

A situation where there are two favorites in a sports event. The favorite may be a team or an individual participant.

Jolly

Another name for a favorite.

L \

Lay

The act of betting against another player's chances of winning.

Lengthen

In sports betting, the term "lengthen" refers to odds that have grown larger due to certain events. Thus, the more an odd lengthens, the higher the returns.

Live Betting

A bet on a live event. Live bet odds fluctuate as the sports event unfolds.

Live Streaming

An online feature on most betting platforms that enables players to view sports events in real time.

Long Shot

A term for an odd with an extremely low probability of winning. Long Shot is also another name for an outsider.

Loyalty Programme

An incentive that rewards long-term usage of betting sites. Users may get free bets or cash bonuses as a loyalty programme.

Lucky 15

A bet containing four selections in different events, and a total of 15 bets. The Lucky 15 includes one 4-fold, 6 doubles, 4 singles and 4 trebles.

Lucky 31

A bet consisting of five selections in different events, with a total of 31 bets. The Lucky 31 includes 10 trebles, 5 singles, 5 4-folds, 10 doubles, and 1 5-fold.

Lucky 63

A bet involving six selections in different events with a total of 63 bets. The Lucky 63 includes 1 6-fold, 15 doubles, 6 5-folds, 6 singles, and 20 trebles.

M

Minimum Bet

This is the lowest amount a player can bet on a sports betting platform. Note that the minimum amount differs depending on the event.

Mobile Betting

These are types of betting platforms accessible via a mobile device. To place bets on mobile devices, players must either download the preferred sports betting app or use the mobile version of the platform.

Monkey

An informal term for £500.

Multi-Goal Setting

In a multi-goal setting, players are able to select a range of expected goal scores. For example, players can predict that a team will score within two to four goals in a match. The player wins if the scoreline is within two to four goals.

N

Nap

These are selections with the highest probability to win. Tipsters often release naps. Note that naps may not always win.

No Deposit Free Bet

A free bet that does not require a deposit. Betting operators usually offer a No Deposit Free Bet to new or loyal users on their platforms. Players may need to deposit a certain amount to take out their winnings from a No Deposit Free Bet.

Non-Runner

A Non-Runner occurs when a horse or greyhound cannot participate in a race. Bookmakers will provide a refund to players that placed bets on a non-runner.

O

Odds

The probability of a prediction coming true. It is also the measure of a player's earnings.

Odds-Against

An Odds-Against occurs when the money is less than the odds of a selection.

Oddsmaker

Persons responsible for setting the odds for betting markets. An oddsmaker sets odds based on the competition and current trends.

Odds-On

An odds-on occurs when an even money is greater than the odds of a selection.

On The Nose

In horse racing, an On The Nose Bet is a single bet that a horse will win.

Outlay

The amount of money wager on a particular bet.

Outsider

Also referred to as a long shot, an Outsider is a selection with a low potential to win.

Over/Under

A type of bet for predicting the number of an instance in a sports event. An over/under bet may include goals, cards, and corners.

Overround

This refers to a bookmaker's inbuilt profit margin on a betting market. The Overround is typically the remaining amount after a 100 percent.

Own Goal

An own goal is fairly common in soccer matches. Players can bet that a team will unintentionally score against their team.

P

Parlay

This is another name for an accumulator. A parlay is a single bet with multiple selections. That said, a player can only win a parlay if all the predictions are true.

Patent

A bet involving three selections in different events, consists of 7 bets. A patent bet includes one treble, three doubles, and a single on each selection.

Payout

The expected earnings from a bet. A payout includes both the winnings and the stake.

Permutations

A system bet that requires players to place different bets in a particular order in a way to strategically cover the market.

Pool

Players pay a certain amount of money into a joint account, and each receives a share of the pool after making a correct prediction.

Promotions

Betting operators offer promotions to users that have completed a certain action or fulfilled a certain criteria on a betting platform. There are numerous promotions on betting sites, and this include welcome offers, Acca insurance, Free Bets, and Enhanced Bets.

Promo Code

A code for accessing available promotions on a betting platform.

Punter

A general term for a user or player on a betting platform.

Place Betting

A type of horse-racing bet that is successful when your horse is in the top position in a race. To win in a place bet, your horse must rank in the top 5 positions.

Placepot

In a Placepot, players must select a placed horse for the first six races in a meeting.

R

Racing Card

A document containing all data on the day's races. Online betting platforms also have digital versions of racing cards.

Request a Bet

Bookmakers provide a "request a bet" option through various platforms.

Referral Bonus

You get referral bonuses when you invite other people into a betting platform. Most platforms require the referral to perform a transaction before you can obtain a referral bonus.

Round Robin

The act of combining a series of accumulator bets. A Round Robin is a mix between a system bet and a parlay.

Runner

A competitor in greyhound or horse racing.

Rule 4

This is a consistent rule in horse racing. A Rule 4 is the reduction in a player's winnings due to the presence of non-runners in a race.

S

Scorecast

A type of double bet where you predict the final score and the goal scorer in a football match.

Stake

The amount wagered on a bet.

Super Heinz

A system bet involves seven selections, consisting of an overall 120 bet. The Super Heinz includes 7 sixfold bets, 21 five fold bets, 35 fourfold bets, one sevenfold bet, 35 trebles, and 21 doubles.

Spread Betting

A type of over/under bet with a higher potential of winning or losing than normal betting.

System Bets

A combination of selection from different parts of the betting market.

T

The Gambler's Fallacy

An erroneous belief that past events decide future outcomes in a sporting event.

To Win To Nil

This involves placing a bet on a team to win and not to concede a goal in a match.

To Score In Both Halves

This involves placing a bet on a team to score in both the first and second halves.

To Win Either Half

A bet predicting that a team will win either half of a match.

To Win Both Halves

A bet predicting that a team will win both the first and second half in a match.

To Win From Behind

This is a bet placed on a team winning after conceding goals at some stage.

Treble

A treble bet contains three selections.

Tricast

A bet based on predicting the 1st, 2nd and 3rd place in a greyhound or horse racing event.

V

Value Bets

Players place a value bet when they think the game odds are wrong.

Vig

Another term for an overround.

Y

Yankee

A bet involving four selections in different events, with a total of 11 bets. Yankee bets include one 4-fold, 4 trebles, and 6 doubles.