Sports betting information (Glossary)
In the world of sports betting, you always stumble across specific terms that you maybe do not know. But don’t you worry! In our Sports Betting Glossary, we will make sense of the sports betting lingo.
A
Accumulator Bet
Special form of a combination bet. The betting site sets a minimum number of single bets, most of the time it’s three to four bets. This results in an accumulator, also known as acca.
American Odds
In America, odds are quoted differently than in other parts of the world. American odds only show the pure profit. In addition, there are mathematic symbols (+ with outsider odds starting at 2.0, – for odds below)
With the (+) sign, it shows the net profit a bettor makes if they win a bet with a 100 Dollar stake. With the (-) sign, it shows the stake, which a bettor must bet in order to make a net profit of 100 Dollars if they win.
Examples:
- American Odds + 150: With a stake of 100 Dollars, the bettor makes 150 Dollars pure profit in case of a win, meaning a total of 250 Dollars in return. This equals European odds of 2.5.
- American Odds – 150: The bettor needs to invest 150 Dollars to make 100 Dollars pure profit in case of winning. Meaning 250 Dollars in return. This equals European odds of 1.66.
Ante Post Bet
A long-term bet.
Arbitrage
Also known as Sure Bets; placing several bets on different outcomes of the same event with different betting sites. If you bet on Team A with one betting site and on Team B with another, you are guaranteed to win. This is worth the effort if the outcome of an event is so uncertain that the odds are vastly different to each other.
Asian Handicap
Variation of a handicap bet in which a team does not get full goal advantages. Instead, there are quarter, three fourths or half goals.
B
Back
The opposite of Lay. A bet on a certain outcome of an event (e.g., Win)
Banker
A supposedly 100% certain bet.
Bet
A wager on the outcome of an event.
Betting Deposit
Your available money for sports betting. Your betting deposit is in your betting account and comes about through a direct deposit or bonus offers.
Betting Exchange
A platform for sports betting similar to a betting site. The bookie, however, is a private person and not a company.
Betting Office
Another term for bookie or bookmaker. Alternatively, a term for the physical establishment of a bookie.
Betting Site
An online company with which you can place bets, also known as bookmakers or bookies.
Betting Slip
The confirmation of your bet, containing all important data surrounding your bet. Nowadays, betting slips appear mostly digitally, in actual betting offices you get a paper receipt.
Betting Tax
Bookies all around the world must pay taxes. The percentage varies from country to country. This tax is either deducted from the bettor’s stake or winning, or the bookie pays the tax out of their own pocket.
Bonus
A gift from the betting site for new or existing customers. This bonus is often better odds, free bets or raising your deposit by a certain percentage. Every Bonus Offer is linked to conditions, for example minimum odds, a minimum stake or the bonus has to be rolled over multiple times before pay out.
Bookie/ Bookmaker
Another word for betting site / betting office.
Bookmaker Margin
A synonym of overround or vigorish; the bookie’s profit margin, which is included usually in the odds.
C
Cash Out
A type of safeguard when betting. When a bookie offers cash out in an event, you can back out of a bet early. For example, if you bet on an underdog winning and they get in the lead you can back out of the bet in that moment and get a small win. However, the amount you win is significantly smaller than what you would have gotten if you had kept going and won.
Cashback (Bet)
A type of money-back-guarantee. I case of losing, the bettor gets back part of their stake. For example, if you lose a 100 Dollar bet with 15 per cent cashback, you get 15 Dollars back.
Combination Bet
Another term for Accumulator Bet. Multiple events are combined in one bet.
Correct Score Bet
A bet on the exact outcome of an event (for example 1:2 in a soccer match).
D
Double
A combination bet of two events, also known as double bet. The bettor has to get both bets correct in order to win.
Double Chance
A type of bet in which you can bet on two outcomes, for example team A wins and a draw. This holds a higher chance of winning, but the odds are extremely low.
Draw No Bet
A bet on winning. However, if the game ends up in a draw, the stake is refunded. This provides more security, but the odds of winning are significantly lower than for a regular bet.
Dutching
A mathematical method to spread the stakes on multiple outcomes so that the profit stays the same regardless of the outcome. Basically a self-made double chance.
E
English Odds
Also known as UK Odds or British Odds. The common method of showing odds in the United Kingdom and Ireland. English odds are written as fractions and show the net profit.
For Example:
Stake: 100 Dollars, odds 7/4. The second number signifies the wagered units, meaning 4 units = 100 Dollars, 1 unit = 25 Dollars. The first number signifies the pure profit in case of winning, meaning 7 units = 175 Dollar.
The stake itself is also added – so a successful bettor wins 275 Dollar. This equals European odds of 2.75. However, there is a way easier way of converting these odds. You divide the first number by the second number and receive the net profit in European Odds. 7 by 4 = 1.75, plus the stake of 1 = 2.75.
Entertainment Betting
A bet outside of the world of sports. There are hardly any limits to entertainment bets. It can be on political events like elections, social events or even TV shows like Survivor.
European Odds
The common method of showing odds in Europe (except the UK), also known as decimal odds. European Odds are written as decimal number and show the gross profit. For Example: Odds of 1.5 mean that the bettor wins 1.5 x their stake. With a stake of 100 Euros the bettor wins 150 Euros, meaning a net profit of 50 Euros.
F
Fair Odds
Odds that exactly reflect the exact probability.
Fantasy Bet
A bet on an event, which does not take place in that constellation. For Example: On one weekend there are the matches A vs B and C vs D. However, the bet is on the outcome of A vs C, which is a match that does not take place. The outcome of this bet is the actual goals of team A and C in their respective matches. It is basically a bet on which team scores more goals in their respective matches.
Financial Bet
A bet on the price development of a share, security, or index.
First Goal Scorer
A bet on the first player who scores a goal in a match.
Free Bet
Common bonus offer. In a free bet, you get the stakes for one or more bets for free. This is directly deposited into your betting account.
Full Time Result Bet
Another term for correct score bet; a bet on the exact result (outcome) of a match in goals or points.
G
Goal Bet
A bet on which team scores the first goal. Sometimes a synonym for a correct score bet, so the exact outcome in the number of goals.
Goal Scorer Bet
A bet on which player will score one or more goals. There are multiple variations of this bet such as “first goal scorer of the match”, “scorer with the most goals in a match”, “player scores at least two goals” and many more.
Greyhounds
The most common dog breed in dog races, also known as English Greyhound.
H
Half Time/ Full Time Bets
A bet on the result at half and full time of a match. You can bet on Win A, Win B or X for a draw at half time and at the end of a match. The respective prediction is separated with a slash. Half time goes first and full time second (HT/FT).
Handicap Bet
In a Handicap Bet one team gets an advantage from the bookie, which is added to the actual result of the event. This way, matches in which one team has the clear upper hand are made a little more exciting – at least for the bettors. To win the bet, not the regular outcome is the deciding factor, but the result including the added advantage.
Head-to-Head
A direct comparison of two competitors (Head2Head comparison) and the term for a bet on which of the two competitors will have the upper hand, for example in ski racing, motor sports or horse racing.
High Roller
A bettor that bets a large amount of money.
I
In-Play
Another term for live betting, meaning bets that are placed while an event is already happening.
J
Juice
American term for overround or vigorish. The opposite, No Juice, means betting without a profit margin for the bookie. These bets are often a bonus offer.
L
Last Minute Bet
A bet that is placed very shortly before a match starts. This can be profitable because sometimes the odds rise in the last few minutes before an event starts.
Lay (Bet)
A bet against (instead of on) a certain outcome of an event. For Example: Lay Team A = I bet that Team A does not win.
Line (System Bet)
The individual combination of the possible outcomes of a system bet.
Live Bet
A bet that is placed on an already running event. Options and odds change constantly, depending on the score.
Live Score
Display of the current score. Most bookies offer an overview of the live scores on their website and/ or their app.
Livestream
A broadcast in real time; a possibility to follow an event live on screen. Other than a “regular” stream, the livestream on the betting site must arrive at the bettor’s screen without delay so that they can react appropriately and in time.
Live Ticker
Continuous reporting of a current event. With a live ticker you can stay up to date on what’s happening when there is no TV broadcast or you are unable to watch it.
Long Term Bet
A bet that is placed over a longer period. For example: championship titles, division championships or for the top scorer.
M
Maximum Stake
The highest amount of money you can wager on a specific bet. This amount is far lower in bonus or free bets, apart from those it can vary a lot.
Maximum Winnings
Alternative to the maximum stake; the maximum amount of money that you can with a specific bet.
Minimum Deposit
The lowest amount of money you have to pay into your Betting Account to be able to place bets. The lower this amount, the more customer friendly the bookie.
Minimum Stake
The lowest amount of money you have to wager on a bet to be able to place it. This amount varies from bookie to bookie and depending on the event and type of bet.
Money Line Bet
An American term for a single bet.
Money Management
Generally meaning the overview of your own money, in the context of sports betting meaning the overview of your betting deposit.
Moneybookers
Former name of Skrill, a secure online payment service.
N
No-Bet
An event with such an uncertain outcome that a bet would be too risky.
O
Odds
The Odds show how much you win with a successful bet. The stakes multiplied with the odds result in the possible profit. If you bet 100 Dollars with odds of 2.0 you get 200 Dollars if you win. The less likely the win, the higher the odds.
Oddset
A bet with fixed odds.
Outcome of a Bet
- 0 or X = tie
- 1 = first mentioned team/ home team wins
- 2 = second mentioned tam/ away team wins
- 2-way-bet = only two possible outcomes (no tie possible)
- 3-way-bet = 3 possible outcomes (Team A wins/ Team B wins/ Tie)
Outright Bet
Another term for ante post or Long-Term Bet; a bet over a longer period of time, for example a term.
Over
A type of bet, the opposite of Under Bet: You bet that more than the set number of goals will be scored. For Example: More than 2.5 goals in a soccer match = if at least three goals are scored, you win.
Overround
The overround shows how high the bookie’s profit margin is. Good bookies have an overround of 90 to 95 per cent, meaning that five to ten per cent of the stakes go to the bookie as profit.
P
Pay Out Limit
The minimum amount of money you have to accumulate on your betting account for it to be paid out. This amount varies depending on the betting site and the payment method, usually between1 and 30 Dollars.
Pay-In Bonus
A frequent type of bonus offer in which the betting site raises the amount of money paid into the betting account. For example, if you pay 100 Dollars into your betting account and get 20 per cent pay-in bonus, you get gifted 20 Dollars from the betting site.
Pick
A pick is a tip or prediction given by betting experts.
Place Bet
A bet on the places 1, 2 and 3 in a race with multiple competitors. For example, in ski, car or horse racing.
Progressive Betting Systems (Positive/ Negative)
A strategy to maximise profit/ reduce losses. In this strategy, the stakes for multiple bets are adapted in a way that, in an ideal scenario, profits are maximised and wagered again. Fibonacci and Martingale are examples of negative progressive systems, whereas positive progressive systems are also known as Paroli.
Proposition Bet
A type of wager where you bet on a specific occurrence during an event, regardless of the outcome. For example, a free kick or a red card in a soccer match. This is especially profitable in live betting when you are closely following a match and expect something to happen.
Punter
Synonym for bettor, a person that gambles or places a bet with a bookmaker.
R
Rest Of Game
A live betting option. The score is reverted to zero and you bet on the number of goals that will be scored in the remaining time.
Rollover
Another term for betting requirement, meaning the requirement of how many times and to which odds you have to bet your bonus.
S
Single Bet
The original form of a bet. One bet on one event.
Skrill
a secure online payment service (formerly Moneybookers).
Special Bet
A bet on occurrences during an event, which have nothing to do with the outcome of the match itself. A goal in the first 15 minutes of play, for example. Special bets are part of every sport and bring more variety to it.
Sports Betting Licenses/ Concessions
Whoever wants to offer sports bets needs have the respective license. On our website we only show you bookies that have said license if licenses are issues by the respective country.
Spreads/ Spread Betting
The bookie grants the teams an advantage or a disadvantage, which in addition influences the outcome of the match.
Stake
The amount of money that is put on the bet.
Supertoto
A bet on 14 matches in one weekend, combined in one betting slip. To win it, you have to reach a previously set rank. Supertoto is always offered by multiple bookmakers.
Sure Bets
Also known as Arbitrage Bets; placing several bets on different outcomes of the same event with different betting sites. If you bet on Team A with one betting site and on Team B with another, you are guaranteed to win. This is worth the effort if the outcome of an event is so uncertain that the odds are vastly different to each other.
System Bet
A further developed version of a combination bet; multiple combination bets in one.
T
Tendency Bet
A standard one vs. one bet. A bet on which team/ player wins (two-way bet) respectively a draw (three-way bet).
Three-Way-Bet
Bet on an event with three possible outcomes (team A wins, team B wins or draw).
Trixie
A system bet consisting of four bets in total:
- 1x 3-pick bet
- 3x 2-pick bets
Two-Way-Bet
A bet with two possible outcomes: Team A wins or Team B wins. There is no draw possible.
U
Under
A type of bet, the opposite of the Over Bet: You bet that less than the set number of goals will be scored. For Example: Less than 2.5 goals in a soccer match = if no, one or two goals are scored, you win.
Underdog
An outsider, team/ player with a low chance of winning.
Unit (Measurement)
A fictional measurement for stakes. The betting site determines how much real money is in one unit. For example, one unit can be ten Dollars. If you bet one unit on an event, you have in reality put down ten Dollars.
V
Value (Bet)
A value or value bet is a bet with especially high odds.
Vigorish
A synonym of overround; vig for short. The vigorish is a bookie’s profit margin.
Virtual Sports Betting
A bet on events that do not take place in the real world (like virtual, imaginary soccer matches). The betting site itself fabricates what happens in the virtual event and its outcome.
W
Wager
A synonym for a bet.
Win Bet
A bet on a team/ player/ contestant winning.
Y
Yankee
A system bet consisting of eleven bets in total:
- 1x 4-pick bet
- 4x 3-pick bets
- 6x 2-pick bets