Betting from A to Z

Betting from A to Z: Glossary of Terms

The betting world has developed a vocabulary of its own that may sound like pure gibberish to the layman. But don't be discouraged! You can look up every important betting term ever coined right here in our glossary of terms.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Livebet Terms beginning with A

Accumulator (a.k.a. Multiple, Parlay, Roll Up, All On)
An accumulator is a bet involving four or more selections for one stake, with the winnings plus stake being invested on to each successive selection. For less than four selections, it is called a multiple bet. Also called “parlay” (U.S.), “roll up” or “all on". Doubles and trebles are popular multiples for football match betting. A double is one bet involving two separate selections in different events, both of which must be successful for the bet to win. The odds for a double are calculated by multiplying the individual odds for both single bets. Accumulators contain four or more selections. Often, the only limit to the number of selections included within an accumulator bet is the bookmaker's maximum allowable payout on a single bet.
Across the Card
Betting across the card means to bet in doubles or more on simultaneous races.
Action
An action is a general term for any kind of bet or wager.
Against the Spread
A punter betting against the spread is predicting that a team will cover the point spread, even though that team might not necessarily win the match.
All On
See “Accumulator”.
All Up to Win
In horse races of four runners or less, the place portion of an each-way bet goes on to win as there is no place betting returned in such cases.
Ante Post
An ante-post bet is a bet made at an agreed price some time before the event is decided. For example, bets on the outcome of major events such as the Football World Cup can be made weeks, months and sometimes even years in advance. The term ante post was originally used in horse racing, where such bets were potentially lucrative once it became clear that a particular team was favored to win.
Asian Handicap
Asian handicaps are, as the name suggests, a special type of handicap betting popular in the Far East and commonly used in football betting. In addition to typical +1, 0, and -1 handicaps seen in standard handicap football match betting, Asian handicap allows for a ¼ goal, ½ goal and a ¾ goal start. On the face of it this may not seem to make a lot of sense, since any team that beats (or loses to) a ½ goal start will also beat (or lose to) a ¼ goal start. However, there is more to ¼ and ¾ ball betting than meets the eye. As for normal handicap betting, the underdog will be awarded a head start of a handicap, and the favourite will concede a handicap of the same magnitude. For the purposes of bet settlement, the predetermined number of the handicap will be added to the real number of goals. Where no handicap is awarded (0:0 handicap), a drawn game will result in a tied bet and returned stakes. if either side wins, bets backing that team will win, whilst bets backing the other will lose. Similar rules apply for 1 goal (0:1) and 2 goal (0:2) Asian handicaps. When ½ ball handicaps are applied, bets can only be won or lost - a tied bet is impossible. If the handicap is set at ¼ (or ¾, 1¼, 1¾ etc) of a goal, then any bets on the match will be settled as a split stakes bet, with half the stake going on the handicap ¼ of a goal less than the quote and half on the handicap a ¼ of a goal more. For example, with a ¼ ball handicap, half the stakes will be settled as though the handicap was 0, and half as though the handicap was ½. It follows, then, that if a team beats a ¼ ball handicap by ½ or more, the backer will win the whole bet; if they lose by ½ or more, the backer will lose the whole bet. It is only when the result falls within ¼ of the handicap that the result is different from a conventional handicap. When a team beats the handicap by a &f rac14;, the backer receives half stakes on a win, and half returned. For example, if €10 were staked at odds of 1.95 for a ¼ ball advantage, a drawn game would return a profit of €4.75. This is known as a "win ½". If a team loses by a ¼, the backer has only half his stake returned. This is known as a "loss ½".

Livebet Terms beginning with B

Bar
During betting forecast announcements, bar indicates the lowest odds against the horses not mentioned in the forecast. For example, “50 to one bar” means that the odds on the remaining horses are 50:1 or higher. Bookmakers do not usually lay the bar price against any named horse.
Banker
A banker is a strongly favored bet selection. The term traditionally signifies the banker's (bookmaker's) most favored selection. When included as a bet instruction, that selection must win.
Beard
A person, often a friend or acquaintance, who places a bet in order to conceal the identity of the true bettor.
Bet
A money wager on the correct prediction of a given outcome. Also used as a verb to describe the act of placing a money wager on such a prediction (“I've bet my money on the red team”).
Betting Exchange
to come
Betting Forecast
The betting forecast announces the odds of a race as predicted by the daily newspapers or bookies.
Board Price (a.k.a. Show Price)
The board price is the price, relayed from the race course, which may be taken by punters. This is the price at which bets are settled, regardless of the final returned starting price.
Bookmaker (a.k.a. Bookie, Layer)
A bookmaker (or “bookie”) is a company or agent licensed to accept money bets on the results of particular events, based on the provision of odds to the customer.

Livebet Terms beginning with C

Canadian (a.k.a. Super Yankee)
A Canadian (also known as a Super Yankee) consists of 26 bets involving five separate selections. This includes ten doubles, ten trebles, five fourfolds and an accumulator.
Chalk
The chalk is another term for the favorite.
Chalk Player
A chalk player is someone who typically places bets on the chalk (favorite).
Circled Game
In U.S. sports, a game is said to be circled when the betting activity is limited by the bookmaker. This is usually the case when bad weather or injury may significantly affect the outcome of the game, thus making predictions more uncertain.
Conditional Bet
A conditional bet is dependent on a specific condition being met. Examples: if-win, if-lose, any-to-come, etc.
Computer Forecast
Computer forecasts are the returns used by bookmakers to calculate forecast bets.
Correct Score
Correct-score betting is popular in football (soccer), where the total number of goals in a game tend to be limited. The odds depend on the actual match odds between the two teams.
Credit Limit
The credit limit is the amount a backer is allowed to lose by a bookmaker in a given time frame before settlement is required.
Cumulative Odds
Cumulative odds is an ante-post term denoting full accumulative odds for a double event as at starting price.

Livebet Terms beginning with D

Dog
A dog is team, horse, runner etc. expected to lose a contest. Also known as an “underdog”.
Dog Player
A dog player typically places bets on the dog (underdog).
Double
An accumulator with two selections for one stake where the winnings and stake are invested from one to the other. Both must be successful to win the bet.
Double Action
An if-bet that proceeds only if the previous bet has won, tied or been canceled.
Double Chance
In football, bookmakers may occasionally reduce the three possible outcomes of a match (win, lose, draw) to only two. In double-chance betting, a single price is offered on a win/draw. If the backed team wins or draws, the bet wins; if the team loses, so does the bet. However, the win/draw odds will always be lower, since the chances of this outcome are greater than the chances of only a win or only a draw.
Double Result
Some bookmakers offer bets on half-time and/or final scores. A bet on both the half-time and final score is called a double result or double-chance bet.
Drift
When the price of a selection begins to rise – often due to a lack of support – it is said to be “on the drift”.

Livebet Terms beginning with E

Each Way
An each-way bets actually consists of two bets: one bet to win and a second bet to place among the top ranks. In this case, the odds are calculated as a fraction of the win odds. The exact fraction varies by sport and game, but will be displayed wherever bets are offered each way. Consider the example of a €10-bet on England to win the World Cup using 10:1 odds. This bet can be made more attractive by offering it each way, in which case, the odds might be 10:1 on first place and 5:1 on first, second or third place. if England won the World Cup, the payout would amount to €150 in total – €100 for first place, plus an additional €50 for being under the top three. If England made it to the finals but lost the match and came in second in the Cup, the payout would nonetheless amount to €40 – €50 for top three, minus the initial €10-wager.
Edge
Edge is a term for a punter's advantage in any bet.
Exotic
Any bet other than a straight bet or parley falls under the general term “exotic”. An exotic bet is also known as a prop or a proposition.
Exposure
Exposure is the maximum amount of money a sports bookmaker stands to lose in a game.

Livebet Terms beginning with F

Favorite
The favorite is the selection quoted at the lowest rate of odds in any event.
First Goal
A first-goal bet is a wager on a specific player to shoot the first goal of the match.
First-half Bet
A first-half bet is placed solely on the first half of a game.
Fold (as in Fourfold, Fivefold, etc.)
The suffix -fold indicates multiple selections in an accumulator. For example, a fourfold accumulator consists of one bet involving four separate selections. All must be successful in order to get a return.
Forecast
A forecast is a wager where the backer is required to predict the finishing order of the first and second horses or greyhounds.
Form
A team's form describes how it is currently performing (e.g. “the team is in good form this season”).

Livebet Terms beginning with G

GamCare
The U.K. National center for information, advice and counseling with regard to the social impact of gambling.
Goliath
A Goliath consists of 247 bets involving eight separate selections. This includes 28 doubles, 56 trebles, 70 fourfolds, 56 fivefolds, 28 sixfolds, eight sevenfolds and an accumulator. At least two selections must be successful in order to get a return.

Livebet Terms beginning with H

Half-time Bet
A half-time bet is a wager placed on the half-time results of a match.
Half-time Result
A bet that involves the punter correctly predicting the result of a match at half time.
Handicap
A system of handicaps is used by bookmakers to make one-sided bets more attractive to punters. As an example, a football team may start with an advantage of one goal. In U.S. sports, this is called the “spread”. For fractional handicaps (½, ¼, etc.) there is no possibility of a draw. If the margin of victory is the same as the quoted handicap, all bets on the selected team will lose.
Handicapper
A person who studies, rates and bets on sporting events and/or races.
Hedging
Hedging is a strategy by which punters may insure the value of their bet against an opposite bet. In other words, a punter may place a bet on the opposite outcome of his/her original bet in order guarantee winnings or at least cut losses.
Heinz
A Heinz consists of 57 bets involving six separate selections. This includes 15 doubles, 20 trebles, 15 fourfolds, six fivefolds and an accumulator. This bet was named after Heinz tomato ketchup for its “57 varieties”.
Hook
A hook is a half point added to betting lines in football or basketball.

Livebet Terms beginning with I

IBAS (Independent Betting Adjudication Service)
A U.K.-based arbitrator that resolves betting disputes between punters and bookmakers.

Livebet Terms beginning with L

Lay, Layer
In the U.K., a bookmaker is sometimes also known as a layer, as in one who “lays” odds. A punter may also “lay himself” (U.K.) or “lay down” (U.S.) on betting exchanges.
Lay Off
A bookmaker may lay off his bets to another bookie, meaning he is passing on all or part of a bet to another bookmaker.
Lengthen
When there is little activity on a particular outcome, bookmakers may choose to lengthen (extend) the available odds.
Line
Line describes the current odds or spread on a particular event.
Lock
In the U.S., the term “lock” describes a near-certain winner.
Long Shot
A long shot is the opposite of a lock, i.e. a team or horse that is unlikely to win.
Lucky 15
A Lucky 15 consists of 15 bets involving four separate selections. This includes four singles, six doubles, four trebles and a fourfold accumulator. If one selection wins, returns are paid to double the odds as a consolation prize. If all four selections win, a bonus of ten percent is added to the total returns. In each-way bets, the consolation prize is paid only on the winning part of the bet. Lucky 15 bets are accepted for horse and greyhound races only. Also see Lucky 31 and Lucky 63.
Lucky 31
A Lucky 31 consists of 31 bets on five separate selections. This includes five singles, ten doubles, ten trebles, five fourfolds and a fivefold accumulator. This is equivalent to a Canadian plus five singles. One winning selection will guarantee a return.
Lucky 63
A Lucky 63 consists of 63 bets on six separate selections. This includes six singles, 15 doubles, 20 trebles, 15 fourfolds, six fivefolds and a sixfold accumulator. One winning selection will guarantee a return.

Livebet Terms beginning with M

Match Betting
The most popular and common fixed-odds betting market is called match betting. In standard match bets for two teams, winning odds are provided for both teams and the wager will either win or lose, depending on the outcome of the event. Often, a draw is also offered as a betting option.
Monkey
A monkey is bookie slang for €500.
Multiple
See “Accumulator”.
Multiplied Odds
Multiplied odds is a term usually applied to ante-post doubles where the odds are multiplied, e.g. 10:1 and 10:1 equals odds of 100:1.

Livebet Terms beginning with N

Nap
The nap is a tipster's best bet of the day.
No action
A no-action bet is one where money is neither lost nor won.
Number Spread
The number spread is an index based on the number of runs, goals and points scored in an event.

Livebet Terms beginning with O

Odds (a.k.a. Price)
The odds indicate the returns offered by a bookmaker on a particular selection.
Odds Against, On
When speaking of odds, “against” and “on” describe the chances of a particular horse as quoted by the bookmakers. If a horse is quoted at "six to one against", its chances of success are 1:7; if it is quoted at "six to one on", its chances are 6:7.
Outsider
The outsider is the opposite of the favorite, i.e. a player, runner, etc. not expected to win.
Over/Under
In football betting, an increasingly popular fixed-odds market is total goals betting, also known as over/under betting. In this form of betting, the punter predicts a minimum or maximum amount of goals to be scored. A commonly available over/under bet available in football is over/under 2.5 goals. By introducing a decimal, this removes the possibility of a draw, leaving only two possible outcomes. Some bookmakers like to introduce an extra outcome to the book. 3 outcomes might include: fewer than 2 goals; exactly 2 goals; and more than 2 goals. Other bookmakers introduce even more, although this is done usually with a view to increasing their profit margin on the books.
Over-round
In theory a betting book should be 100%, so a toss of a coin would be even money heads, even money tails. However the bookmakers' profit margins mean the figure is usually above 100%. In cases where it is less this is referred to as 'over-round'.

Livebet Terms beginning with P

Parlay
See “Accumulator”.
Patent
A patent consists of seven bets involving three separate selections. This includes three singles, three doubles and one treble. One successful selection guarantees a return.
Permutations or Perms
There is a way to find 7 bets from only 3 selections, making use of what have incorrectly become known as permutations or perms. Consider the following 3 selections: Bolton to beat Charlton, evens Leeds to beat Liverpool, 6/4 Southampton to beat Tottenham 5/4 First off, each selection can be taken as a single match bet. Secondly, there is one treble available at odds of 11.25, calculated by multiplying together the odds for each of the 3 singles (2 x 2.5 x 2.25). However, there are also 3 doubles available too, by "perming" any 2 games from the 3 selections. Such a series of bets is commonly known as a 'Patent', or a 'Trixie' if the singles are left out leaving only 4 bets. The greater the number of selections to choose from, the greater the number of combinations available. Combinations are not, of course, restricted to doubles. If we wish to choose from 4 matches, there are 6 combinations of doubles and 4 combinations of trebles available, in addition to 1 fourfold and 4 singles.
Point Spread
The point spread is the predicted scoring differential between two opponents as quoted by a sports bookmaker.
Pony
A pony is bookmaker slang for €25.
Price
See “Odds”.
Punter
A punter is an individual making a bet.

Livebet Terms beginning with R

Roll Up
See “Accumulator”.
Round Robin
A Round Robin consists of three selections in three Up and Down bets with three doubles and one treble, for ten bets in all.
Runner
A runner is somebody who places bets for another person.

Livebet Terms beginning with S

Scout
A scout is somebody who waits to bet on unusually strong wagers.
Sharp
A sharp is a sophisticated or professional gambler.
Single
The simplest of all bets is the single. With a single bet on a football match, only one outcome is backed, and the bet can generally either win or lose, although in Asian handicap, there are other possibilities. With a simple win/lose single, a selection must be successful to achieve a return. A typical single match bet might be Liverpool to beat Manchester United at 2/1. If Liverpool win, a €10 stake would realise a profit of €20; if they draw or lose, the stake is lost. Singles odds are today generally available for almost any football game.
Special Bets
In an attempt to attract spread bettors into fixed-odds football betting, some online bookmakers have started to offer specialized betting markets. Special bets include odds on the number of corners and bookings a televised match will have, odds for team performance, or the time of the first and the last goals. These bets have their origins in the spread markets, and it is only through the availability of online gambling that fixed-odds bookmakers have been able to break into this market.
Spread Betting
to come
Stake
The stake is the amount invested on any selection.
Starting Price
The starting price are the odds returned from the race course at the time of the off.
Strike Rate
The strike rate is the ratio between winners and loses.
Super Heinz
A Super Heinz consists of 120 bets involving seven separate selections. This includes 21 doubles, 35 trebles, 35 fourfolds, 21 fivefolds, seven sixfolds and an accumulator.
Super Yankee
See “Canadian”.

Livebet Terms beginning with T

Tic-tac
The 'sign language' with which bookmakers on the racing course communicate.
Tip
A tip is information about the winning chance of a horse in any particular race.
Tipster
A tipster is an individual who collects special information concerning the chances of horses and who informs his customers accordingly, usually for an agreed fee.
Treble
A Treble consists of 1 bet involving 3 selections in different events. All must be successful to get a return.
Trixie
A Trixie consists of 4 bets involving 3 selections in different events. The bet includes 3 doubles and 1 treble. A minimum of 2 of your selections must be successful to get a return.

Livebet Terms beginning with U

Under
See “Over/Under”.
Underdog
See “Dog”.

Livebet Terms beginning with V

Void Bet
A void bet is a bet that has been declared invalid. The stake is returned without deduction.

Livebet Terms beginning with W

Wager
See “bet”.
Wise Guy
A wise guy is a well-informed or knowledgeable handicapper or bettor.

Livebet Terms beginning with Y

Yankee:
A Yankee consists of 11 bets involving four separate selections. This includes six doubles, four trebles and an accumulator.

Sources

Wettbasis.com
betstudy
footie-bet
bettingzone