Common Terms Used In Sports Betting

A

Accumulator Bet

An accumulator bet can be described as a single wager placed on predicting multiple outcomes. Every predicted outcome must happen for an accumulator bet to be won

Acca Insurance

Acca(aka accumulator) insurance refers to an offer given to players to refund their wager in an event where only one of their predicted outcomes fails to happen.

Action

Action is a term used to describe a placed bet/wager.

Added Game

Added games are game events that appear on the boards after the major lists have been displayed. An added game may be a rematch, for example.

Against The Spread

Betting against the spread in sports involves placing a bet on the prediction of a player winning by an extended range of points.

Ante-Post

Ante-post is a term commonly used in horse racing, and it's used to describe wagers placed a day at the least before the game.

Arbitrage Betting

Arbitrage betting is a betting style involving placing bets on every predictable outcome at odds that guarantees a profit.

B

Back

In sports betting, to back something means placing a wager on predicting an event to occur.

Bad Beat

A bad beat happens when a player loses a bet that initially seems like it was going to be won.

Banker

Banker refers to a bet that is considered safe and has a high chance of winning.

Bankroll

Bankroll is the total sum of money a player brings to a game to bet with.

Bankroll Management

Bankroll management refers to the practice of managing a betting budget. It involves creating wagering limits, shopping for the best odds, staking only what one can afford to lose, etc.

Bar

Bar refers to the lowest value of odds beyond which competitors are listed.

Beard

Beard, also known as Runner, is used to describe a person who places a bet on behalf of another individual.

Best Odds Guaranteed

Best odds guaranteed refers to an offer usually given in racing sports by the bookmaker. When taken up, this offer allows players to have more odds when their ante-posts win.

Bet

A bet in sports betting can be described as the attachment of funds to the prediction that an event will happen. If the prediction is correct, the bettor makes more money, but if wrong, the bettor loses his/her original stake.

Bet Slip

A bet slip refers to a piece of paper used to place a bet. It displays players betting selections and also helps to confirm a player's bet amount before the bet is drawn.

Book

A book, also referred to as a bookie/bookmaker, is a betting official who is licensed to offer odds and accept players' bets. It is also where players get their funds when their bets are successful.

Bore Draw

A bore draw describes a game that concludes in a 0-0 draw.

Buck

A buck in sports betting is used to describe a bet that is not less than $100.

C

Cash out

Cash out, also known as a Buyout, can be described as a feature that bettors use to receive a payout that is less than the potential win before the end of the competition.

Cashbacks

Cashbacks are promotions offered by online bookmakers which give players a percentage of their lost stake. Most online sport betting platforms offer cashbacks so they can attract customers.

Chalk

Chalk in sports betting is used to describe the clearly strong and favorite side of a bet.

Circled Game

A circled game can be described as a game in which the betting limits or the number of selections are restricted.

Clean Sheet

A clean sheet is a term commonly used in football. It occurs when a team does not concede a single goal. A lot of bettors bet on whether or not there will be a clean sheet in a football match.

Commission

Also known as juice or vigorish, a commission in sports betting is the percentage a bookmaker takes away from any bet. It is also known as the fee taken away from betting exchanges.

Cover

Cover is a bet where a favorite wins with a point score higher than the point spread.

D

Dead Heat

Dead heat in sports betting is a situation where two or more runners at the end of the race finish at the same time and end up as ties. In this event, if you place your bet on one of these winners, you are still entitled to your full payout.

Deposit

To deposit in sports betting means to transfer funds into your betting account.

Dog Player

The term dog player refers to a player who places his bet on a less favorite side of the game.

Double Bet

A double bet is a bet that contains only 2 selections. The two selections must win before a double bet is said to be won; this makes the payout of this kind of bet bigger.

Double Chance

A double chance is when a player's bet covers 2 out of 3 possible events, thereby increasing the chances of winning.

Dime

Dime refers to a $1000 bet.

Draw No Bet

Draw no bet is an option that provides safety for players' stakes. If you back a side to win under the "draw no bet" rule, your original wager will be returned to you if the games end in a draw.

Drift

A drift is said to occur when the odds of a selection increase.

Dutching

Dutching refers to a betting style that involves a player backing different possible outcomes of a single event. This technique increases the chances of a player earning from at least one selection.

E

Each Way Bet

An each-way bet can be described as a single wager commonly used in racing sports. It contains 2 separate bets; a win bet and a place bet.

Early Price

Early price refers to the odds offered before the game's commencement.

Edge

An edge in sports betting refers to the advantage the bettor has over the book before the bet is placed.

Evens

Evens refers to odds of 2.00. Once an evens bet is won, you get to win the exact amount of money you staked with, e.g., You wagered with $50 to win $50 extra.

Exotic

Exotic, also known as a prop bet, refers to bets that are different from a straight or multiple bet.

Exposure

Exposure refers to the total amount of money a bettor can lose in a specific bet.

F

Favorite

"Favorite" in sports betting refers to the side or team the book considers to have a better chance of winning.

First Half Bet

A first half bet can be described as a bet that is placed on the prediction of the results of a game's first half.

Fixed Odds Betting

Fixed odds betting is a kind of betting offered by betting sites in which the original payout amount remains fixed despite the fluctuations of the odds.

Flag Bet

A type of bet that involves 23 bets which are made from 4 different selections.

Fold

The fold is used to describe the total number of selections that an accumulator bet consists of.

Form

Form in sports betting is used to describe the current performance status of a team or person.

Free Bet

A free bet refers to a bonus bet that does not require attaching a stake to play. It is awarded to players by bookies to reward their loyalty or entice new players to use their services.

Future Bet

A future bet is a type of bet placed on a game/event that will take place at a future date.

G

Gambler

A gambler is used to describe an individual that places money on events with an unpredictable outcome.

Goal Line

Goal line betting is a type of bet that involves betting on the number of goals that will be scored in a game.

Goliath

Goliath is a kind of bet that consists of 247 bets made from 8 selections.

H

Half Time Bet

A half-time bet can be described as a bet that relates to the second half of a game. It is made after the first half of the game has been concluded.

Handicapper

A handicapper is an individual known to research the advantages/disadvantages of the reams in a game before placing a bet.

Handle

The handle refers to the total money the bookmaker receives for every game.

Hedging

Hedging is a betting strategy that involves betting on more than one predictable outcome to ensure your win. The payout of this type of bet is usually low.

Heinz

Heinz refers to a bet that includes 57 bets made from 6 selections.

High Roller

The term "High roller" describes a player that regularly wagers with a large amount of money.

Home Field Advantages

Home field advantage refers to a team's advantages over its competition when they play in familiar places.

Hook

A hook refers to a half point, i.e., a hook is 0.5 points.

I

In-Play Wagering

In-play wagering can be described as betting on a game that has already commenced.

J

Jackpot

Jackpot in sports betting refers to the largest payout/prize that can be won in a game.

Jolly

Jolly refers to a bet placed on a side/team the bookie considers to have a great chance of winning.

L

Lay Betting

Lay betting is when a player bet that an event will not happen.

Lengthen The Odds

To lengthen the odds means to make an event less likely to happen.

Limit

Limit refers to the largest amount of money a player can bet on a game or event. The limit of a game is normally set by a bookmaker.

Line

The term "line" refers to betting odds.

Lock

"Lock" in sports betting is described as a bet that a punter is very certain about.

Longshot

A Longshot in sports betting can be described as a bet that is less likely to win. They always have a higher potential payout.

Lucky 15

Lucky 15 refers to a bet that contains 15 bets that involve up to 4 selections in different events.

Lucky 31

Lucky 31 is a bet that has 31 bets that are made from 5 different selections.

Lucky 61

Lucky 61 is a bet that consists of 61 bets that are made from 6 different selections.

M

Martingale

Martingale refers to a kind of betting system where the bettor doubles his/her stake after every loss in an effort to cover the losses.

Money Line

Money line is a type of bet where you predict that a particular team will win. If the team succeeds at the end of the game, then you win.

Monkey

The term "Monkey" in sports betting is used to refer to a £500 wager.

Multiples

Also known as Parlay, Multiples are used to refer to wagers that contain more than one single bet.

Mush

Mush is used to refer to an individual who is known to have bad luck when it comes to betting.

N

Nap

Nap refers to a bet placed based on the prediction of experts.

No action

No action refers to a situation whereby the bookman cancels all bets on a particular game or event. In this situation, it doesn't matter whether your side is losing or winning; all bettors are refunded their money.

Non-Runner No Bet

Non-runner no bet refers to an offer used in horse races. It allows a bettor's stake to be refunded if the horse he/she backed is withdrawn from the race.

Novelty Bet

Novelty bet, also known as a prop bet, refers to a wager that is not connected to the game's outcome. It involves bets like the number of fouls, the side that will score the first goal etc

O

Odds

Odds in sports betting are used to measure the tendency of an outcome to happen. It is normally provided by the bookie, and they determine the payout of every bet placed.

Odds On

Odds on are used to refer to odds that are higher than 2.00.

Oddsmaker

An oddsmaker refers to an individual who estimates the betting odds of an event.

Off The Boards

Off the boards refers to a situation where a bookmaker stops accepting bets for a specific game.

Opening Line

Opening line refers to the first odds that are available for betting on a game or event.

Outright Bet

An outright bet refers to a bet placed on the winner of a tournament or competition rather than betting on the winner of a single game

Outsider

An outsider refers to a team that has a very low chance of winning.

Over

Over in sports betting refers to predicting the total number of games a team will win. It is also known as the prediction of the total number of times an outcome will happen above the bookman's threshold set by the bookmans.

P

Patent

The term "Patent" refers to a bet that consists of 7 bets made from 3 different selections.

Perms

Perm is a type of bet that contains more than one type of bet in different combinations. This kind of bet can still be won even if you lose a few selections.

Photo Finish

A photo finish is commonly done at races, where 2 or more contestants cross the finish line at exactly the same time. It involves checking the photo or video footage to know the first person to cross the line, either by the head of clothing.

Place

To bet on something.

Point Spread

Point spread is used to describe a bet that is won by the range of success.

Pony

Pony is used to refer to a £25 wager.

Profit

A profit refers to the amount of money a better gains on a successful bet.

Punter

A punter refers to an individual that gambles or bets.

Push

** **A push happens when the outcome of an event results in a tie between the prediction of the bettor and the bookmaker. No one loses or wins when a push occurs, and the bettor's stake is refunded.

Q

Quinella Bet

Quinella bet is a term mostly used in horse and greyhound racing. It involves the punter making a guess of the first two finishers of the race, no matter the position they finish, either first or second.

R

Rag

An adjective in sports betting is used for an outsider.

Request a Bet

Request a bet is a special feature that allows a bettor to choose a combination of different outcomes and finally contact the book to be provided with its odds

Return

Return is used to refer to the profit and returned stake in a successful wager.

Round Robin

Round robin is a type of wager that consists of 10 bets picked across three selections.

Rule 4

Rule 4 is a rule commonly used in races. It gets into effect when a contestant ( a horse, for example) is removed from a game. This rule allows the odds to be adjusted, thereby increasing your chances of winning

Runner

A Runner in sports betting refers to a person placing a bet on behalf of another.

S

Scorecast

Scorecast is a different type of wager common in sports betting that merges two bet options together into one

Scout

A scout describes a staker, a professional gambler who patiently waits for a good wager and then bets big.

Sharp

Sharp is used to describe a very knowledgeable bettor.

Single bet

A single bet is a bet placed on a single outcome of a game.

Singles

Singles in sports betting is a bet that covers just one selection.

Smart money

Smart money is a term used to refer to an amount made by a sharp bettor.

Spread betting

Spread betting refers to a type of betting whereby the bookmaker advises spreading the outcome of an event. Then the bettor would decide if the outcome is to be higher or lower.

Stake

An amount a punter places on a bet

Starting price

The value of odds placed on a selection at the beginning of a race

Steamer

When the odds on a particular horse keep getting lower before or during the race because it's been bet on more and more.

Straight forecast

Straight forecast is a prediction where a bettor predicts the position of the first two finishers after a game/event.

Straight Tricast

A straight tricast is when a bettor selects three horses that he/she believes would win and finish in order.

Streak

A streak describes a continuous series of wins or losses.

Super Heinz

Super Heinz is a particular type of wager that comprises 120 bets across seven selections.

Super Yankee

Super Yankee refers to a particular wager that consists of 26 bets across five selections.

System Bets

A system bet is a combination of multiple single bets into one that can still win even if one of the selections loses.

T

Tapping out

A player is tapping out when he/she is losing his/her total bankroll.

Teaser bets

Teaser bets are modified parlay bets whereby the book select which games should be joined together.

Tic tac

A way of communication by the bookmakers to announce the odds of horses

Tip

A tip can be described as a bet predicted by a third party

Tipster

A tipster refers to a person that gives information and suggestions about the wager.

Tissue Price

Tissue price can be described as odds that are set based on rating, which is convertible to probability.

Totals

Totals refer to bet on the sum of events in a particular game

Tote Betting

TOTE betting refers to a type of betting where the wager goes to the cumulative pool that combines all the same bet types, and the bet prize depends on how many people bet and how much they bet.

Treble

Treble is a type of wager whereby three singles outright selections are combined into one multi bet.

Tricast bet

A tricast bet is a bet in which a punter selects three horses that will be won and also predicts their order of winning

Trifecta bet

Another word for tricast bet

Trixie

Trixie is a bet which includes four bets across three selections

U

Under

Under in sports betting is when you place a bet that an event in the game will occur fewer than the threshold set

Underdog

Underdog refers to the less favored team in a game

Underlay

An underlay is said to occur when the odds of a competitor are not true and are to the bookmaker's advantage.

V

Value bet

A value bet can be described as a type of bet that identifies an edge against the bookmarker and takes advantage of it.

Void bet

When a bet is canceled due to a particular circumstance and the amount staked is refunded to the punter, such a bet is regarded as a void bet.

W

Wager

Another word for bet

Walk over

Walk over implies that a particular player or team withdraws from a race, and then the win is awarded to the other competitor.

Whale

A whale refers to a punter who continuously wages with a great amount of money.

White meat

White meat term that is referred to as gambling profit

Wincast

Wincast is a type of game whereby a punter selects a team to win and a player to score at any time of the game.

Winning margin

Winning margin gap by which a team would win

Wise guy

A knowledgeable punter

Y

Yankee

A bet that comprises 11 bets across four selections.