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 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 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 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 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.
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.
This betting term refers to your favourite for an event. A banker bet is thought highly likely to win.
When a punter wagers a certain amount of money on an outcome to happen.
A peer-to-peer online betting platform that matches gamblers together. They take on no bets as a traditional bookmaker does.
Bookmakers or bookies are licensed betting companies which provide odds and take bets from punters.
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 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.
The chalk is another term for the favourite.
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.
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 is a betting market in which the punter predicts the exact score of an outcome. It’s often used in football betting.
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 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.
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 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.
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.
The amount of money a bookmaker or punter stands to lose. This is important when placing bets at a betting exchange.
The most likely to win a certain event is called the favourite. The runner or player with the lowest odds.
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 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 is a betting term that refers to when a bookmaker increases the odds for a certain market.
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 refers to the favourite for a certain event. The odds are below evens (2.0 or 1/1).
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.
An outsider is a runner, team or individual that is deemed unlikely to win an event. Outsiders have high odds.
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.
The odds of a given market can also be referred to as the price.
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.
A bookmaker that is used by professional punters.
This betting term refers to the process in which traders look to profit from market movements rather than the outcome of an event.
The underdog is the opposite of the favourite. They’re unlikely to win an event.
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.