Key Betting Terms & Expressions
Sports betting has been around for quite a while, at during all the time a specific kind of lingo has developed around it. Knowing what these words and expressions mean is necessary for a newbie to get your footing in sports betting, so we have compiled a useful list of all the most important ones.
Accumulator – Also known as accas, parley bets, multiples, or combi-bets. A combination of several bets where each individual bet, or “leg”, takes the previous ones’ winnings as a stake. The more bets you add, the riskier it becomes, but the potential winnings grow exponentially.
Action – Any kind of bet.
Arbitrage Betting– a technique where a punter places bets on all the possible results of a match with different bookmakers. Takes advantage of the occasional difference in odds to get a small, but guaranteed profit. Frowned upon by most online bookies.
Asian Handicap – A special type of handicap where the side less likely to win gets an initial advantage to level the playing field. In football betting, this is usually a +1 or +1/2 goal added to their score before the match begins.
Betting Exchange – A betting service that allows punters to bet one against the other, as opposed to traditional sportsbooks where punters bet against the bookmaker.
Bookmaker – also known as a bookie. A licenced company who accepts bets as a service.
Both Teams To Score – Shortened to BTTS. A type of betting where the bettor predicts that both teams will score at least one point.
Cash Out – an option with online betting which allows you to settle a bet before its end, either to minimise losses or take smaller winnings before things can turn around against you.
Double Chance – A variant on the classic “win-draw-win” bet which allows you to select two of the possible options. If either of these happens, you win the bet.
Dutching – A practice in which you spread your stake over several possible outcomes of an event.
Each Way – Essentially, two bets placed as a single one, where one wagers on a tournament or league win, and the other is for a high placement. The bet confirms even if the team you bet on doesn’t actually come out on top, but at decreased odds.
Evens – Betting term for a 50/50 shot.
Half time – A bet placed on the results of the first half of the game.
Hedging – A betting strategy involving betting on opposite results in order to guarantee some profits, or cut your losses.
IBAS: Independent Arbitration Betting Service. A service which deals with resolving betting disputes.
Lucky 15 – A special bet consisting of 4 singles, 6 doubles, 4 trebles, and 1 fourfold. Accepted for horse races and greyhounds only.
Odds – In betting terms, refers to the ratio between the stake and the potential winnings for a specific bet.
Over/Under – A fixed odds football betting market, in which you attempt to predict whether the match will have more or fewer goals than a specified number (Usually 2.5.)
Punter – Bettor; a person who places a bet.
Singles – The simplest possible bet, where you place a single amount on a single outcome of a single event.
Underdog – A team or player expected to lose. Sometimes referred to simply as the “dog”.
Value Bet – A complex notion, but this is the gist: a bet in which the odds offered by the bookmaker are better than the actual statistical chance of the selection happening. Many believe value betting to be essential for long-term profits.
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