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Betting glossary

betting terminolpgyWhether you are a seasoned bettor or just starting your journey into sports betting, there are many terms you may not be familiar with. Each time you are unsure about a type of bet or certain terms & conditions, you can get back at this page and sort things out. Without further ado, here is the complete betting glossary as per the bookmakers.bet betting experts team.

a

A

Accumulator: A multiple bet, where you have to win all the selections made to gain profit. The risk is high and so is the payout.

Against the Spread: Popular in spread betting, you try to find which team will cover the spread and not win the match.

All In: When you bet your entire bankroll on one betslip.

All Out: The whopping effort of a team to score in the last minutes or a horse at the last meters of the race.

Angles: Another term for the analysis a bettor does, trying to predict a match result from past data.

Ante Post Betting: All bets placed before the start of an event (usually a competition or league).

Apprentice: An inexperienced jockey gaining weight allowance over more experienced ones.

Arber: A punter who is seeking even the slightest sure profit. This is usually done by taking advantage of the different odds on various online bookies and placing bets on all outcomes.

Arbitrage: The procedure of an arber, gaining profit by backing all aspects.

Asian Handicap: A type of bet popular in Asia, where the favorite is given a handicap, and the underdog a head start respectively, to make the bet more balanced.

B

Bags: An abbreviation of Bookmakers’ Afternoon Greyhound Service, usually written in lowercase letters.

Banker: A bet considered surely a winner.

Bankroll: The total amount of money available for sports betting.

Bar:  A term meaning  50/1 or higher odds for a horse not mentioned in the betting forecast

Betting Exchange: A website platform which allows punters to back and lay bets against each other. The exchange's profit comes from taking a small commission from the winner.

Bismarck: A slang word for an overrated horse, considered the favorite but likely to lose the race.

Blinkers: Also blinders. The leather covers fitted to a horse’s head to restrict its field of vision.

Blanket Finish: When more than two horses finish a race in a really short distance. 

Bookmaker: A registered company that offers odds and accepts bets on the result of sporting or other events.

C

Canadian: A five selection multiple bet, placed on doubles, trebles, fourforlds and a fivefold.

Chalk player: A bettor who almost always backs favorites.

Chasing: A bet placed for the purpose of recovering lost money. Usually done so immediately after a loss.

Circled Game: A well balanced game, where both teams have equal chances of winning, and the betting activity is limited

Clerk of the Scales: The official responsible for weighing the jockeys correctly at the end of a race.

Co-Favourite: A joint favourite at a race or event with more than two competitors, where at least two of them are offered with same odds.

Correct Score: One of many football (soccer) betting types, where you try to predict the correct score of a match between more than 20 different outcomes.

Covering the spread: The same as betting against the point spread and winning.

D

Dam: A female horse.

Dead-Heat: When even the photo-finish cannot separate the finishing positions of two or more horses.

Dog player: A bettor who backs the underdog of an event.

Double: A multiple bet with two selections.

Double Chance: Placing a single bet on two outcomes of an event, usually a football match(e.g. 1X, 12)

Drifter: When odds are increasing on a team or horse, as bettors are massively backing the opponent.

Ducking: When the bookmakers offers shorter odds on a team or a horse to avoid big liabilities.

Dutching: Betting on more than one selection on an event (but not all of them) to make equal profit regardless of the winner.

Double Result: A betting result depending on the outcome of two different time periods of the game (usually half time and full time in football matches).

E

Edge: A punter’s advantage in a bet.

Each-way: A single bet on a winner of a horse race.

Exacta: A multiple bet including the first two horses of a race in the correct order of finish.

Exotic: A slang word meaning any other bet besides the ordinary ones, straights or parlays.

Exposure: The maximum amount of money a sports book can afford to lose in a game.

F

Favourite: The selection in an event with the lower odds.

First Goalscorer: A bet placed on a player to score the first goal in the match.

First half bet: A bet placed on the halftime result of a sports tie.

Fold: The number of selections in an accumulator bet. A four-fold consists of four different events.

Form: A team’s performance according to the latest data.

Furlong: This is a standard distance unit in racing, equal to nearly 200m. A mile is divided to eight furlongs

G

Going: A term about the ground condition during a race.

Goliath: A multiple bet including 8 different selections. The bet includes 28 doubles, 56 trebles, 70 four-folds, 56 five-folds, 28 six-folds, 8 seven-folds and one eight-fold.

H

Half time result: A bet that involves the Punter correctly predicting the result of a match at half time.

Handicapper: A punter who studies, rates and bets on sporting events.

Handicap race: When horses carry different weights based on their official rating or greyhounds get a head start based on their ability.

Hedging: When you back the opposite outcome in an event you have already wagered on to decrease or minimize the risk.

Heinz: A multiple bet of six selections. The bet includes 15 doubles, 20 trebles, 15 fourfolds, 6 fivefolds and an accumulator.

Hook:  The half goal or point added on football or basketball betting lines to exclude the draw.

I

IBAS: The Independent Arbitration Betting Service, which solves betting disputes between punters and bookmakers.

In- Running: When bets are placed during an event.

J

Jolly: Another slang word to describe the favorite.

L

Lay: This term is used in betting exchanges, where players act as bookmakers. By laying bets, they offer betting options to backing bettors.

Layers Liability: The exact amount of money a layer or a bookie can afford to lose if the selection wins.

Lengthen: When bookmakers offer better odds on a possible outcome in order to increase activity.

Line: The odds or point spread offered at a sports event.

Lock: A slang word about a minimum risk bet.

Longshot: A risky bet, having slim chances of being confirmed.

LSP:  Abbreviation of Level Stakes Profit. Calculating the profit you would make if all your stakes had been flat.

Lucky 15: A multiple bet consisting of four selections. The bet include singles, doubles, trebles and a fourfold.

Lucky 31: A multiple bet consisting of five selections. The bet includes singles, doubles, trebles, fourfolds and a fivefold.

Lucky 63: A multiple bet consisting of six selections. The bet includes singles, doubles, trebles, fourfolds, fivefolds and a sixfold.

M

betting termsMartingale: A betting strategy that requires doubling the stake after every loss.

Match Betting: Another name for the popular 1X2 or 3-way betting.

Multiples: A bet that includes more than one selection. You win this bet if all your selections are successful.

Maiden: A horse that has never won a race.

N

Nap: The safest horse racing bet of the day.

Nb: The second best bet of a tipster.

No action: Another term describing “push”, when your stake is refunded after a bet.

Non-Runner: A horse that originally was declared to run but is not racing.

NRNB: Abbreviation of “Non Runner No Bet” term, if a horse does not show up the stake is refunded as the bet is considered void.

Number Spread: How many goals will be scored in a match.

O

Odds: A number showing the profit you’ll get if you bet on the specific outcome.

Odds Against: A price that is greater than Evens (1/1 or 2.00).

Odds On: A price that is lower than Evens (1/1 or 2.00).

On the Nose: Betting on a horse to win a race.

Outsider: A team or horse considered the underdog.

Over: Betting on a higher number of goals or points than the bookmaker offered line. For example, betting on over 2,5 goals means that you expect at least three goals.

Overlay: When the odds of a selection surpass what is considered normal.

Over-round: The profit a bookmaker will gain from a certain event.

P

Pari Mutuel: The name of the only betting system existing in France.

Parlay: Another term for an accumulator bet.

Patent: A multiple bet including three selections. grouped in 3 doubles, a treble and a single on each selection.

Photo Finish: The procedure of determining the results of a horse race when the distance between the first two or more finishing horses is really close.

Picks: A tipster's selected bets.

Permutations/Perms: The maximum number of bets that can be formed from a number of selections.

Point spread: The goal or points advantage a bookmaker gives to a team before the match starts.

Price: Another word for odds.

Punter: Also called bettor or simply player. A person who places bets.

R

Rag: Another word for an outsider.

Round Robin: A type of horse racing bet, including 3 different races, grouped in 3 doubles, 1 treble and 6 single stakes.

Reverse Forecast: A type of horse racing bet, where the player predicts the first two finishers, but not necessarily in the correct order.

ROI: Abbreviation for Return of Investment. A number deriving from the division of profit and the total stake.

Runner: A person who places a bet on behalf of another, an intermediate.

S

Scout: A punter who wagers occasionally and only on valuable bets.

Sharp: A punter who make a living by betting.

Silks: The different colors of a jockey and a horse.

Single: The easier betting type, including only one selection.

Sire: The male parent of a horse.

SP: Abbreviation for Starting Price. The price of a horse when the race starts.

Special Bet: Every betting type besides the full time match result (1X2 bet).

Spread Betting: A betting type where the bookmaker gives a team a point or goal advantage (handicap) before the match. The total profit or loss depends on the final point or goal difference compared to the handicap.

Steamer: A bet that has become very popular among players.

Stewards Enquiry: An investigation into on goings in a horse race.

Straight Forecast: A bet type for horse racing, where the punter has to predict not only the first two horses of the race, but also their correct order of finishing.

Super Heinz: A seven selection multiple bet . It includes 21 doubles, 35 trebles, 35 fourfolds, 21 fivefolds, 7 sixfolds and an accumulator.

Super Yankee: The same bet type as a Canadian (five selections).

T

Tipster: A person who offers or sells his betting predictions.

Tissue: A betting forecast with the purpose of predicting the odds of each runner.

Tongue-Tie: A strip of cloth that helps the horse stabilize its tongue.

Treble: A multiple bet consisting of 3 selections.

Tricast: A horse racing bet type where the punter has to pick 3 selections in the correct order of finishing.

Trixie: A three-selection multiple bet that includes 3 doubles and a treble.

U

Under: Betting on a lower number of goals or points than the handicap offered by the bookmaker.

Underdog: A competitor or team that is unlikely to win.

Up-and-Down: A bet on two selections, that is placed as two single bets.

V

Value Bet: A bet that is considered to have better chances of winning than the odds offered.

Vigorish: Also called vig. The percentage a bookmaker charges for accepting a punter's bet. Vig is embedded to the odds offered.

Visor: A device similar to a cowl, that is fitted to a horse's head to restrict its field of vision.

W

Win: A single or multiple bet that makes profit.

Walkover: A race where there is only one runner left, as all the others are non runners.

Y

Yankee: A multiple bet of four selections, including 11 bets, involving 6 doubles, 4 trebles and an accumulator.

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