Betting Terms Glossary A-Z: Complete Guide to Betting Terminology 2025

Welcome to the most comprehensive betting terms glossary available online. Whether you're a complete beginner or an experienced bettor looking to brush up on terminology, this A-Z guide covers over 100 essential betting terms with clear definitions and practical examples.

Understanding betting terminology is crucial for making informed betting decisions and navigating the complex world of sports betting. This glossary covers everything from basic concepts to advanced strategies, bookmaker-specific terms, and betting exchange terminology.

Quick Reference: Most Common Betting Terms

Before diving into the complete alphabetical glossary, here's a quick reference table of the most frequently used betting terms:

Term	Simple Definition	Example
Accumulator	Multiple bets combined into one	4 teams to win at 2.00 each = 16.00 total odds
Bankroll	Total funds for betting	Starting with £1,000 for the month
Handicap	Giving one team a virtual advantage/disadvantage	Team A -1.5 goals
Odds	Probability of outcome as a number	2.00 = 50% chance
Stake	Amount wagered on a bet	£10 bet
Value Bet	Odds higher than true probability	40% chance priced at 3.00+
BTTS	Both Teams To Score	Yes/No market
Each Way	Bet split between win and place	Win at 10.00, place at 2.50
Lay Bet	Betting against an outcome	Laying a draw on exchange
Over/Under	Total goals above or below a line	Over 2.5 goals

Alphabetical Betting Terms Glossary

A

Accumulator (Acca)

A bet combining multiple selections into one wager, where all selections must win for the bet to pay out. Also called a parlay in US betting. The odds multiply together, creating potentially large returns from small stakes.

Example: A 4-fold accumulator with selections at 2.00, 1.80, 2.50, and 1.90 odds = 2.00 × 1.80 × 2.50 × 1.90 = 17.10 total odds. A £10 stake returns £171.

Across the Board

A horse racing term for betting on a horse to win, place, and show. In football betting, it refers to backing all possible outcomes.

Example: Betting £10 across the board means £10 on win, £10 on place, £10 on show = £30 total stake.

Action

Any type of gambling activity or having an active bet running. Also refers to the amount of money wagered overall.

Example: "I've got action on three games today" means having bets placed on three matches.

Added Time

Also known as injury time or stoppage time. The extra minutes played at the end of each half. Important for live betting and goal-related markets.

Example: 5 minutes of added time in the second half can be crucial for Over/Under bets close to the line.

Against the Spread (ATS)

Betting on a team to beat the point spread rather than winning outright. Common in American sports but applies to Asian Handicap betting in football.

Example: Manchester United -1.5 ATS means they must win by 2 or more goals.

Aggregate Score

The combined score across multiple legs of a competition, typically in knockout tournaments.

Example: Two-leg Champions League tie: Team A wins 2-1 away, Team B wins 2-0 at home = 3-2 aggregate to Team B.

All-In

A betting rule where all bets stand regardless of non-runners or changes. Opposite of "not a runner" refund policies.

Example: In a tournament outright market, all bets remain active even if a team withdraws early.

Alternative Lines

Different handicap or Over/Under lines offered at different odds, giving bettors more options.

Example: Standard Over 2.5 goals at 1.90, or alternative Over 3.5 goals at 3.20 for higher risk/reward.

Ante-Post Betting

Betting on an event well in advance, typically on tournament winners or league champions. Usually offers better odds but with "no non-runner refund" rules.

Example: Backing a team to win the Premier League in July before the season starts.

Arbitrage (Arbing)

Exploiting differences in odds between bookmakers to guarantee profit regardless of outcome. Also called "sure betting."

Example: Backing Team A at 2.10 with Bookmaker X and Team B at 2.10 with Bookmaker Y guarantees 5% profit.

Related: Matched Betting Guide

Asian Handicap

A handicap betting market that eliminates the draw by giving one team a virtual head start, often using quarter-goal increments.

Example: Team A -0.75 means half your stake on -0.5 and half on -1.0. If they win 1-0, half wins, half pushes.

Related: Complete Asian Handicap Guide

B

Backdoor Cover

When a team scores late to cover the spread but doesn't affect the match outcome. Often frustrating for spread bettors.

Example: Team losing 3-0 scores in injury time to make it 3-1, covering the +2.5 handicap but still losing the match.

Banker

A selection considered extremely likely to win, often used as the foundation of accumulator bets.

Example: Manchester City at home to a relegation-threatened team might be considered a "banker."

Bankroll

The total amount of money set aside specifically for betting. Proper bankroll management is essential for long-term success.

Example: Setting aside £500 per month as your betting bankroll, never risking more than 1-2% per bet.

Betting Exchange

A platform where bettors bet against each other rather than against a bookmaker. Allows both backing and laying bets.

Example: Betfair is the largest betting exchange where you can lay (bet against) outcomes.

Betting Market

A specific type of bet offered on an event, such as match result, total goals, or first goalscorer.

Example: The "Over/Under 2.5 goals" market is separate from the "Both Teams To Score" market.

Bonus Bet

Free bet or promotional bet offered by bookmakers, usually with terms and conditions attached.

Example: "Bet £10, get £30 in bonus bets" promotion where the bonus has wagering requirements.

Bookmaker (Bookie)

A company or person that accepts bets and sets odds. Traditional bookmakers profit from the overround built into their odds.

Example: Bet365, William Hill, and Ladbrokes are well-known bookmakers.

Both Teams To Score (BTTS)

A popular market betting on whether both teams will score at least one goal. Simple yes/no proposition.

Example: Liverpool vs Arsenal BTTS Yes at 1.70 wins if the score is 1-1, 2-1, 2-2, 3-2, etc.

Related: BTTS Betting Strategy

Bought Points

Paying extra to move the point spread or total in your favor, resulting in lower odds but safer bet.

Example: Moving Over 2.5 goals to Over 2.0 goals by accepting reduced odds from 1.90 to 1.60.

Boxed Bet

A combination bet covering all possible outcomes of selected horses or teams. Expensive but comprehensive.

Example: Boxing three teams in a Trixie means covering all doubles and trebles.

British Odds

See "Fractional Odds" - the traditional UK odds format like 5/1 or 2/1.

Buying Points

See "Bought Points."

C

Canadian

A combination bet with 5 selections creating 26 bets: 10 doubles, 10 trebles, 5 four-folds, and 1 five-fold accumulator.

Example: Selecting 5 teams creates 26 different combinations. Only 2 need to win for returns.

Cash Out

A feature allowing bettors to settle bets before the event concludes, either to secure profit or minimize losses.

Example: Bet on Team A to win at 2.00 for £100. At halftime they lead 1-0, cash out offered at £160.

Related: Complete Cash Out Guide

Chalk

The favorite in a betting market. Originates from horse racing when favorites were written in chalk on bookmaker boards.

Example: "Manchester City is the chalk" means they're the strong favorite.

Closing Line

The final odds available just before an event starts. Often considered the most efficient price.

Example: Odds moving from 2.00 to 1.80 by kickoff means the closing line was 1.80.

Combination Bet

Any bet involving multiple selections combined in various ways (doubles, trebles, etc.). Also called a "combination forecast."

Example: A Trixie is a combination bet with 3 selections in 4 bets (3 doubles + 1 treble).

Commission

The fee charged by betting exchanges on winning bets, typically 2-5%.

Example: Winning £100 on Betfair with 5% commission means receiving £95 profit.

Correct Score

Betting on the exact final score of a match. High odds due to difficulty but popular market.

Example: Predicting Manchester United 2-1 Liverpool at odds of 9.00.

Related: Correct Score Betting Guide

Cover

Successfully winning a bet, particularly beating a handicap spread.

Example: "Team A covered the -1.5 spread" means they won by 2+ goals.

Crossbar Challenge

Not a betting term but popular in betting marketing. Refers to hitting the crossbar from distance.

D

Dead Heat

When two or more selections tie for position. Stakes are divided by the number of tied participants.

Example: Two players both score first in a multi-game parlay. Your £10 bet is treated as £5 on each at full odds.

Decimal Odds

The European odds format showing total return including stake. Most common format globally.

Example: Odds of 2.50 mean £10 returns £25 (£15 profit + £10 stake).

Related: How Betting Odds Work

Derby

A match between local rivals, often producing unpredictable results and unique betting opportunities.

Example: Manchester United vs Manchester City, Arsenal vs Tottenham, Liverpool vs Everton.

Dog

Short for underdog - the selection less likely to win according to the odds.

Example: "Taking the dog at +2.5" means backing the underdog with a handicap advantage.

Double

A bet combining two selections where both must win. The odds multiply together.

Example: Team A at 2.00 and Team B at 1.80 creates a double at 3.60 odds.

Double Chance

A market covering two of the three possible outcomes (Home Win or Draw, Away Win or Draw, Home or Away Win).

Example: Backing "1X" (Home Win or Draw) at 1.40 covers two outcomes.

Draw No Bet (DNB)

A bet that refunds your stake if the match ends in a draw. Only wins or losses count.

Example: Backing Liverpool DNB at 1.70. If they win, you win at 1.70. If it's a draw, stake refunded.

Related: Draw No Bet Complete Guide

Drift

When odds lengthen (increase) before an event, indicating decreased confidence in that outcome.

Example: Odds drifting from 2.00 to 2.50 suggests the market believes the outcome is less likely.

E

Each Way (E/W)

A bet split equally between a win bet and a place bet. Common in horse racing, less common in football but used in tournament markets.

Example: £10 each way (£20 total) at 10.00 odds (1/4 place terms): Win returns £100, place returns £25.

Early Payout

A bookmaker promotion paying out early if certain conditions are met, even if the bet later loses.

Example: "2 goals ahead early payout" means winning if your team goes 2-0 up, even if they draw 2-2.

Edge

The advantage a bettor has over the bookmaker, typically through superior analysis or finding value bets.

Example: "I have an edge in BTTS markets" means consistently finding profitable opportunities in that market.

Enhanced Odds

Promotional odds boosted above standard market prices, usually for new customers or special events.

Example: Standard odds 2.00 enhanced to 5.00 for new customers (often with maximum stake limits).

European Handicap

Traditional handicap betting where the draw is a possible outcome, unlike Asian Handicap.

Example: Team A -1 European Handicap loses if they win 1-0 (becomes 0-0 after handicap).

Even Money

Odds of 2.00 in decimal format, 1/1 in fractional, or +100 in American odds. Doubling your money.

Example: A £10 bet at even money returns £20 (£10 profit).

Evens (EVS)

Another term for even money - odds of 2.00.

Exotic Bet

Any bet that isn't a straightforward win/loss wager. Includes accumulators, correct scores, first goalscorer, etc.

Example: Betting on first goalscorer, time of first goal, and correct score in one bet.

Expected Value (EV)

The average amount you can expect to win or lose per bet based on probability and odds. Positive EV bets are profitable long-term.

Example: 40% chance at 3.00 odds has +20% EV: (0.40 × 3.00) - 1.00 = 0.20

Related: Value Betting Strategy

F

Favorite (Favourite)

The selection most likely to win according to bookmaker odds, indicated by lower odds.

Example: Manchester City at 1.40 is the favorite against a Championship team at 8.00.

First Goalscorer

A market betting on which player will score the first goal in a match. Stakes refunded if your player doesn't start.

Example: Erling Haaland first goalscorer at 4.50. Returns £45 on £10 stake if he scores first.

Fixed Odds

Odds that remain locked in when you place your bet, regardless of later market movements.

Example: Backing at 2.00 fixed odds means you get 2.00 even if odds later move to 1.80 or 2.50.

Fold

Refers to the number of selections in an accumulator bet (4-fold, 5-fold, etc.).

Example: "I've got a 6-fold acca running" means 6 selections combined in one accumulator.

Form

Recent performance record of teams or players, crucial for betting analysis.

Example: "Team has won 5 straight" or "WWDLW" (Won, Won, Draw, Lost, Won).

Related: Match Analysis Guide

Fractional Odds

Traditional UK odds format showing profit relative to stake (5/1, 11/4, etc.).

Example: 5/1 odds mean £5 profit per £1 staked. £10 bet returns £60 (£50 profit + £10 stake).

Full Cover

A combination bet including all possible multiples from your selections but excluding singles.

Example: Trixie (3 selections, 4 bets), Yankee (4 selections, 11 bets), Canadian (5 selections, 26 bets).

Full Time Result (FT Result)

The outcome of a match at the final whistle, excluding extra time. The standard match result market.

Example: Home Win (1), Draw (X), or Away Win (2) at full time.

G

Gambler's Fallacy

The mistaken belief that past results affect future independent events (e.g., "it's due to happen").

Example: Believing a team is "due" to lose after winning 5 straight, despite each match being independent.

Related: Biggest Betting Mistakes

Going

Refers to ground conditions in horse racing but sometimes used in football for pitch conditions affecting play.

Example: Heavy going (wet pitch) might favor defensive teams and Under goals bets.

Goliath

A massive combination bet with 8 selections creating 247 bets (28 doubles, 56 trebles, 70 four-folds, 56 five-folds, 28 six-folds, 8 seven-folds, 1 eight-fold).

Example: Selecting 8 matches creates 247 different combinations. Minimum 2 winners needed for returns.

Grand Salami

Betting on the total combined goals/points across all matches in a day or league.

Example: "Over 25.5 goals" across all 10 Premier League matches on a Saturday.

H

Half Time/Full Time (HT/FT)

Betting on the result at both half time and full time in one market.

Example: "Home/Draw" at 8.00 means home team leading at HT but match ending in draw.

Handicap

Giving one team a virtual advantage or disadvantage to create a more balanced market. Multiple formats exist.

Example: Chelsea -1.5 handicap means they must win by 2+ goals for the bet to win.

Related: Asian Handicap Betting

Hedging

Placing bets on different outcomes to guarantee profit or minimize loss regardless of result.

Example: Backing Team A to win tournament at 10.00, then laying them in the final at 2.00 to lock in profit.

Heinz

A combination bet with 6 selections creating 57 bets: 15 doubles, 20 trebles, 15 four-folds, 6 five-folds, 1 six-fold.

Example: Named after Heinz's "57 Varieties." Need minimum 2 winners for returns, 3+ for profit.

High Roller

A bettor who wagers large amounts of money regularly. Also called a "whale."

Example: A high roller might bet £10,000+ on a single match.

Home Advantage

The statistical benefit of playing at home, reflected in odds. Important factor in betting analysis.

Example: Home teams typically win 45-50% of matches across major leagues.

I

In-Play Betting (In-Running, Live Betting)

Betting on matches after they've started, with constantly updated odds based on match events.

Example: Backing Over 1.5 goals at 1.60 after a 0-0 first half when pre-match odds were 1.25.

Related: In-Play Betting Strategy

Injury Time

See "Added Time." The additional minutes played after 90 minutes for stoppages.

Example: 4 minutes of injury time can be crucial for late goal markets.

Jolly

British slang for the favorite in a race or market.

Example: "The jolly won easily at 1.50 odds."

K

Kelly Criterion

A mathematical formula for determining optimal stake size based on your perceived edge and bankroll.

Example: With 5% edge and 20% win probability, Kelly suggests staking 2.5% of bankroll.

Related: Bankroll Management Guide

Kickoff Time

The scheduled start time of a match. Important for accumulator timing and in-play betting strategy.

Example: All selections in an acca must kick off after the bet is placed (unless pre-match acca).

L

Lay Bet

Betting against an outcome on a betting exchange. Acting as the bookmaker.

Example: Laying the draw at 3.50 means you win if the match doesn't end in a draw. You risk £25 to win £10 (liability).

Related: Matched Betting Guide

Liability

The potential loss on a lay bet on a betting exchange. The amount you must pay if the selection wins.

Example: Laying at 3.00 for £10 profit means £30 liability (you pay £30 if the bet loses).

Limit

The maximum stake a bookmaker will accept on a bet, often reduced for winning bettors or high-risk markets.

Example: "Maximum stake £50" means you cannot bet more than £50 on that selection.

Line

The handicap or Over/Under total set by bookmakers for betting purposes.

Example: "The line is 2.5 goals" for Over/Under betting.

Listed Pitcher

A baseball term occasionally used in football for "listed lineup" where bets void if certain players don't start.

Example: Some bookmakers void first goalscorer bets if the player doesn't start.

Live Betting

See "In-Play Betting."

Lock

A bet considered extremely likely to win. Often overconfident bettors' term before losing.

Example: "That's a lock!" - famous last words in betting.

Long Odds

High odds indicating low probability, typically 5.00 (4/1) or higher.

Example: Relegation-threatened team to win at 7.00 against league leaders.

Long Shot

A selection with a low chance of winning, reflected in high odds.

Example: Backing a team at 15.00 to win the league.

Lucky 15

A popular combination bet with 4 selections creating 15 bets: 4 singles, 6 doubles, 4 trebles, 1 four-fold. Includes singles unlike a Yankee.

Example: £1 Lucky 15 = £15 total stake. Returns on any winner, bonus if all 4 win.

Lucky 31

A combination bet with 5 selections creating 31 bets: 5 singles, 10 doubles, 10 trebles, 5 four-folds, 1 five-fold.

Example: Extension of Lucky 15 with one more selection and double the bets.

Lucky 63

A combination bet with 6 selections creating 63 bets, following the Lucky pattern with singles included.

M

Margin

The bookmaker's profit margin built into odds, also called "overround" or "vig." Lower margins mean better value for bettors.

Example: True odds 2.00/2.00 offered as 1.90/1.90 creates a 5.3% margin.

Market Mover

A selection experiencing significant odds movement due to betting patterns or news.

Example: Odds shortening from 3.00 to 2.00 after injury news makes it a market mover.

Matched Bet

A bet placed to qualify for a bookmaker promotion, then laid off on an exchange to minimize risk. Core of matched betting.

Example: Backing Team A at 2.00 with a bookie, laying at 2.02 on exchange, using free bet to profit.

Related: Complete Matched Betting Guide

Match Result

The standard market betting on the outcome: Home Win, Draw, or Away Win. Also called 1X2.

Example: Manchester United vs Liverpool: 1 (Home), X (Draw), 2 (Away).

Maximum Bet

The highest stake a bookmaker will accept on a particular selection or market.

Example: "Max bet £100" limits your stake to £100 even if you want to bet more.

Middle

A betting strategy where you bet both sides of a line at different numbers, allowing both bets to win.

Example: Backing Over 2.5 at one bookie and Under 3.5 at another. If exactly 3 goals, both win.

Minimum Bet

The smallest stake accepted by a bookmaker, typically £0.10-£1.00.

Example: "Minimum bet £1" means you must stake at least £1.

Money Line

American term for betting on outright winner without handicaps. Standard match result in football.

Example: Money line odds: Team A -150, Team B +200 (American odds format).

Multiple

Any bet combining two or more selections, including doubles, trebles, and accumulators.

Example: A 5-fold accumulator is a multiple bet with 5 selections.

N

Nap

A tipster's strongest selection of the day, derived from "Napoleon" suggesting confidence and importance.

Example: "My nap today is Manchester City to win at 1.60."

Next Goal

A live betting market on which team will score the next goal in a match.

Example: At 1-1, backing Home Team next goal at 2.20.

No Action

When a bet is void and stakes refunded, typically due to event cancellation or rule violations.

Example: Match postponed due to weather = no action, stakes returned.

Non-Runner

A horse/player that doesn't start in an event. In football, often applies to first goalscorer bets.

Example: Player scratched from lineup before kickoff = non-runner, stakes refunded.

Not a Runner (NR)

See "Non-Runner."

O

Odds

The numerical representation of probability for an outcome, determining potential returns.

Example: Odds of 2.00 represent 50% probability and return £20 from £10 stake.

Related: Understanding Betting Odds

Odds Against

When odds are greater than 2.00 (evens), meaning you profit more than your stake.

Example: 3.00 odds are odds against - profit of £20 on £10 stake.

Odds Boost

A promotional enhancement of standard odds offered by bookmakers, usually with stake limits.

Example: Standard 2.00 odds boosted to 3.00 for maximum £10 stake.

Odds Compiler

The person or algorithm that sets betting odds for bookmakers. Also called "trader."

Example: Odds compilers analyze data and market movements to set accurate prices.

Odds On

When odds are less than 2.00 (evens), meaning you must stake more than your potential profit.

Example: 1.50 odds are odds on - £10 stake returns £15 (£5 profit).

Offer

Alternative term for odds or betting market available.

Example: "What's the offer on Manchester United to win?" means "What are the odds?"

Official Result

The final declared result used for settlement, sometimes different from apparent result if protests succeed.

Example: Match result changed from 3-0 to 0-3 forfeit after ineligible player found.

Outright

Betting on the overall winner of a tournament or competition rather than individual matches.

Example: Backing Manchester City to win the Premier League at 2.50 before season starts.

Over/Under (O/U)

Betting on whether the total goals/points will be above or below a specified line.

Example: Over 2.5 goals at 1.90 wins with 3+ goals, loses with 0-2 goals.

Related: Over/Under Goals Betting

Overround

The total percentage when all probabilities implied by odds exceed 100%, representing the bookmaker's margin.

Example: Three outcomes at 40%, 35%, 30% = 105% overround = 5% margin.

P

Parlay

American term for an accumulator - multiple selections combined where all must win.

Example: 3-team parlay with each selection at 2.00 = 8.00 combined odds.

Patent

A combination bet with 3 selections creating 7 bets: 3 singles, 3 doubles, 1 treble. Only 1 winner needed for returns.

Example: £1 Patent = £7 stake. Returns on any single winner, more if multiple win.

Payout

The total amount returned from a winning bet, including stake and profit.

Example: £10 at 3.00 odds = £30 payout (£20 profit + £10 stake).

Pick

A selection or betting recommendation, often from tipsters or experts.

Example: "My top pick today is Liverpool to win at 1.80."

Place Bet

Betting on a selection to finish in the top positions (typically top 3 or 4). Common in horse racing, used in football tournament markets.

Example: Each way bet on team to reach Champions League final - place terms pay 1/2 odds for reaching final even if they lose.

Point Spread

American term for handicap betting. The margin by which favorites must win.

Example: Team A -6.5 point spread must win by 7+ points.

Positive EV

See "Expected Value." Bets with positive expected value are mathematically profitable long-term.

Example: 35% chance offered at 3.00 odds = +5% EV = profitable bet.

Postponed

When a match is delayed to a later date. Typically results in all bets being void unless rescheduled within specific timeframe.

Example: Match postponed from Saturday to Tuesday - most bookmakers void bets, some carry them forward.

Profit

The amount won from a bet, excluding the returned stake.

Example: £10 at 3.00 odds returns £30, profit is £20.

Punter

British term for a bettor or gambler. Someone who places bets.

Example: "The average punter loses money long-term" - importance of strategy.

Push

When a bet results in a tie and stakes are refunded. Common with whole number handicaps.

Example: Backing -1.0 handicap and team wins 1-0 = push, stake refunded.

Q

Qualifier

A bet placed to meet requirements for a promotion or bonus, often matched on an exchange to minimize loss.

Example: Placing a £20 qualifying bet to unlock a £20 free bet offer.

Related: Matched Betting Guide

Quarter Line

Asian Handicap using quarter-goal increments (0.25, 0.75, 1.25, etc.). Stake split between two handicaps.

Example: -0.75 handicap splits stake between -0.5 and -1.0.

R

Refund

Return of your stake, typically when bet is void or specific promotional conditions met.

Example: "Bore Draw refund" returns stakes if match ends 0-0.

Return

The total amount received from a winning bet including stake and profit. Same as payout.

Example: £10 bet at 4.00 odds = £40 return.

Risk

The amount that could be lost on a bet. On exchanges, refers to liability on lay bets.

Example: Backing £10 risks £10. Laying at 3.00 for £10 profit risks £30.

ROI (Return on Investment)

Percentage profit or loss relative to total stakes. Key metric for betting success.

Example: £1,000 staked, £1,100 returned = +10% ROI.

Rollover

The amount that must be wagered before bonus funds can be withdrawn, typically 1x-10x the bonus amount.

Example: £20 free bet with 5x rollover requires £100 wagering before withdrawal.

Round Robin

A type of combination bet creating multiple parlays from a set of selections.

Example: 3-team round robin creates three 2-team parlays from combinations of selections.

Rule 4

A deduction applied to winning bets when a non-runner affects the market, common in horse racing.

Example: Non-runner at 3.00 odds triggers 25% Rule 4 deduction on winning bets.

Runner

A participant in an event, whether team, player, or horse.

Example: "All runners in today's matches" refers to all teams playing.

Running Ball

See "In-Play Betting" - betting during live action.

S

Scalping

A trading strategy on exchanges to guarantee small profits by backing and laying at different prices.

Example: Backing at 2.00, odds move to 1.90, lay at 1.90 to lock in 5% profit.

Sharp

An experienced, professional, or highly knowledgeable bettor. Opposite of "square."

Example: "Sharp money came in on the underdog" means professional bettors backed them.

Short Odds

Low odds indicating high probability, typically below 2.00.

Example: Manchester City at 1.30 to beat a League Two team = short odds.

Single

A bet on one selection only, the simplest form of betting.

Example: £10 on Manchester United to win at 2.00 = one single bet.

Sportsbook

An establishment or website that accepts sports bets. American term for bookmaker.

Example: "I use three different sportsbooks to compare odds."

Spread

See "Handicap" or "Point Spread." The margin set by bookmakers.

Square

A recreational bettor who makes decisions based on emotion rather than analysis. Opposite of "sharp."

Example: "Square money" backs popular teams regardless of value.

Stake

The amount of money wagered on a bet. Your risk.

Example: £10 stake at 3.00 odds risks £10 to win £20 profit.

Steam

Rapid, significant odds movement caused by heavy betting action, often following sharp money or injury news.

Example: Odds steaming from 3.00 to 2.20 in 10 minutes suggests major betting interest.

Super Heinz

A combination bet with 7 selections creating 120 bets: 21 doubles, 35 trebles, 35 four-folds, 21 five-folds, 7 six-folds, 1 seven-fold.

Example: Named as bigger version of Heinz. Minimum 2 winners needed for returns.

Sure Bet

See "Arbitrage." A guaranteed profit by backing all outcomes at different bookmakers.

Example: Exploiting odds differences to guarantee 3-5% profit regardless of result.

System Bet

A type of combination bet with multiple selections where not all must win for returns.

Example: 3/5 system bet means 3 correct selections from 5 returns profit.

T

Teaser

A type of parlay where point spreads are adjusted in bettor's favor for reduced odds. More common in American sports.

Example: 6-point teaser moves -7.5 to -1.5 and +3.5 to +9.5 at reduced odds.

Ticket

A betting slip or receipt showing your bet details.

Example: "I've got a ticket on Liverpool to win" means an active bet.

Tipster

Someone who provides betting predictions or tips, either free or for payment.

Example: Professional tipsters often track their ROI and provide detailed analysis.

Total

See "Over/Under." The combined score/goals line for betting.

Example: "Total is 2.5 goals" for Over/Under betting market.

Treble

A bet combining three selections where all must win. Odds multiply together.

Example: Three selections at 2.00 each = 8.00 treble odds. £10 returns £80.

Trixie

A combination bet with 3 selections creating 4 bets: 3 doubles and 1 treble. Minimum 2 winners needed.

Example: £1 Trixie = £4 total stake. More value-focused than Patent as no singles included.

True Odds

The actual probability of an outcome without bookmaker margin applied.

Example: 50% probability = 2.00 true odds. Bookmaker offers 1.90 with margin.

U

Underdog (Dog)

The selection less likely to win, indicated by higher odds.

Example: Championship team at 8.00 is the underdog against Premier League team at 1.30.

Under

Betting on the total being below the specified line.

Example: Under 2.5 goals wins with 0, 1, or 2 goals scored.

Unit

A standard betting amount representing 1% of bankroll, used for consistent stake sizing.

Example: £1,000 bankroll = £10 per unit. "Betting 2 units" = £20 stake.

Related: Bankroll Management

V

Value Bet

A bet where the odds are higher than the true probability suggests, offering positive expected value.

Example: Team has 40% win chance (2.50 true odds) but offered at 3.00 = value bet.

Related: Value Betting Strategy Guide

Vig (Vigorish)

See "Margin." The bookmaker's commission or profit margin built into odds.

Example: Offering both sides at 1.90 instead of 2.00 creates 5% vig.

Void

When a bet is cancelled and stakes refunded, as if the bet never happened.

Example: Match abandoned at 60 minutes typically results in void bets.

W

Wager

Another term for a bet. The act of betting or the amount staked.

Example: "I have a wager on tonight's match" means an active bet placed.

Whale

See "High Roller." A bettor who wagers very large amounts.

Example: A whale betting £50,000 per match can move markets.

Win Only

Betting solely on a selection to win, not place. Opposite of each way betting.

Example: Win only bet on tournament winner needs them to win, not just reach final.

Winning Streak

Consecutive winning bets or consecutive match wins by a team.

Example: "On a 7-bet winning streak" or analyzing teams on 5-game winning runs.

Y

Yankee

A combination bet with 4 selections creating 11 bets: 6 doubles, 4 trebles, 1 four-fold. Minimum 2 winners needed.

Example: £1 Yankee = £11 stake. Popular alternative to 4-fold accumulator as it returns on 2+ winners.

Odds Format Comparison Table

Understanding different odds formats is essential when betting internationally:

Probability	Decimal	Fractional	American	Implied Probability
Strong Favorite	1.20	1/5	-500	83.3%
Favorite	1.50	1/2	-200	66.7%
Slight Favorite	1.80	4/5	-125	55.6%
Even Money	2.00	1/1	+100	50.0%
Slight Underdog	2.50	6/4	+150	40.0%
Underdog	3.00	2/1	+200	33.3%
Long Shot	5.00	4/1	+400	20.0%
Very Long Shot	10.00	9/1	+900	10.0%

Related: Complete Odds Guide

Common Combination Bets Reference

Understanding the structure of combination bets:

Bet Name	Selections	Total Bets	Composition	Minimum Winners
Double	2	1	1 double	2
Treble	3	1	1 treble	3
Trixie	3	4	3 doubles + 1 treble	2
Patent	3	7	3 singles + 3 doubles + 1 treble	1
Yankee	4	11	6 doubles + 4 trebles + 1 four-fold	2
Lucky 15	4	15	4 singles + 6 doubles + 4 trebles + 1 four-fold	1
Canadian	5	26	10 doubles + 10 trebles + 5 four-folds + 1 five-fold	2
Lucky 31	5	31	5 singles + 10 doubles + 10 trebles + 5 four-folds + 1 five-fold	1
Heinz	6	57	15 doubles + 20 trebles + 15 four-folds + 6 five-folds + 1 six-fold	2
Lucky 63	6	63	6 singles + 15 doubles + 20 trebles + 15 four-folds + 6 five-folds + 1 six-fold	1
Super Heinz	7	120	Complex combinations excluding singles	2
Goliath	8	247	Complex combinations excluding singles	2

Note: "Lucky" bets include singles, providing returns from just one winner. Non-Lucky versions exclude singles, requiring minimum 2 winners.

Betting Market Categories

Understanding the main categories of betting markets:

Match Result Markets

Match Winner (1X2)
Double Chance
Draw No Bet
Half Time/Full Time
To Qualify/To Win Trophy

Goal Markets

Over/Under Goals
Both Teams To Score (BTTS)
Exact Goals
Team Total Goals
First/Last Goal
Goal in Both Halves

Handicap Markets

Asian Handicap (-1.5, -0.75, 0.0, +0.25, etc.)
European Handicap
Alternative Handicaps
3-Way Handicap

Score Markets

Correct Score
Half Time/Full Time Score
Winning Margins
Score in Both Halves

Player Markets

First/Last/Anytime Goalscorer
Player Shots/Shots on Target
Player Cards
Player Assists
Player Performance Points

Corner & Card Markets

Total Corners Over/Under
Corner Handicap
First/Last Corner
Total Cards
Player to be Booked

Special Markets

Clean Sheet
Win to Nil
Win From Behind
Score in X Minutes
Method of Victory

Frequently Asked Questions About Betting Terms

What is the difference between decimal and fractional odds?

Decimal odds (e.g., 2.50) show your total return including stake, while fractional odds (e.g., 6/4) show profit relative to stake. Decimal: £10 at 2.50 returns £25 total. Fractional: £10 at 6/4 returns £25 (£15 profit + £10 stake). Decimal is more intuitive for most bettors as it directly shows total returns.

Related: How Betting Odds Work

What does "stake not returned" mean?

"Stake not returned" means the quoted odds represent profit only, and your original stake is not included in the payout. This is the key difference between fractional odds thinking (5/1 = £5 profit per £1) and decimal odds (6.00 includes your stake). Always check which format is being used.

What is the difference between Asian and European Handicap?

Asian Handicap eliminates the draw through quarter-goal increments and refunds on whole number ties. European Handicap includes the draw as a losing outcome. Asian -1.0 pushes (refunds) if you win by exactly 1 goal, while European -1 loses. Asian Handicap is more forgiving and popular for football betting.

Related: Complete Asian Handicap Guide

How does an accumulator work?

An accumulator combines multiple selections where all must win. The odds multiply together for potentially large returns. Example: 4 selections at 2.00 each = 16.00 combined odds. £10 stake returns £160. If any selection loses, the entire bet loses. Also called parlay or acca.

Related: Accumulator Strategy Guide

What is a value bet?

A value bet is when bookmaker odds are higher than the true probability suggests, offering positive expected value. Example: You calculate 40% win chance (2.50 true odds) but bookmaker offers 3.00 odds. The 3.00 odds represent only 33% probability, so there's value. Long-term, value betting is essential for profitability.

Related: Value Betting Strategy

What does "void" mean in betting?

A void bet is cancelled, with stakes returned as if the bet never happened. Common reasons: match postponed, player doesn't start (first goalscorer bets), event cancelled, obvious pricing errors, or rule violations. Neither wins nor loses - you simply get your stake back without profit or loss.

What is the difference between back and lay betting?

Backing is betting FOR an outcome - traditional betting. Laying is betting AGAINST an outcome - acting as the bookmaker. Backing at 2.00: risk £10 to win £10. Laying at 2.00: risk £10 to win £10 from the backer. Laying is available on betting exchanges like Betfair and is core to matched betting strategies.

Related: Matched Betting Guide

How does cash out work?

Cash out allows you to settle bets before events finish, either securing profit or minimizing losses. The cash out amount is based on current probability of your bet winning. Example: £10 at 2.00 on Team A to win. They lead 1-0 at halftime, cash out offers £16. You can take £6 profit early or let it run for potential £10 profit.

Related: Cash Out Betting Guide

What does "both teams to score" mean?

BTTS (Both Teams To Score) is a yes/no market on whether both teams score at least one goal. Doesn't matter who wins or final score. BTTS Yes wins with any score like 1-1, 2-1, 2-2, 3-2, etc. BTTS No wins with 1-0, 2-0, 3-0, 0-0, etc. One of the most popular football betting markets.

Related: BTTS Strategy Guide

What is expected value in betting?

Expected Value (EV) is the average profit/loss per bet long-term. Formula: (Probability × Decimal Odds) - 1. Positive EV bets are profitable over time. Example: 35% chance at 3.00 odds = (0.35 × 3.00) - 1 = 0.05 = +5% EV. This means you profit 5% of stake on average, making it a good bet despite short-term variance.

How are betting odds calculated?

Bookmakers calculate odds using statistical models, team form, injuries, historical data, and market sentiment. They convert probabilities to odds, then adjust for their profit margin (overround). True 50% chance = 2.00 odds, but bookmaker offers 1.90 (52.6% probability) on both sides, creating 5.2% margin. Sharp bettors look for mistakes in these calculations.

What does "each way" mean?

Each way (E/W) splits your stake equally between win and place bets. Example: £10 E/W (£20 total) at 10.00 odds with 1/4 place terms for top 3. Win bet: £10 at 10.00 = £100 if wins. Place bet: £10 at 2.75 (1/4 of 10.00 plus stake) = £27.50 if places top 3. Common in horse racing and tournament markets.

What is in-play betting?

In-play betting (live betting) allows wagering during matches with constantly updated odds based on match events. Odds change rapidly based on score, time remaining, momentum, and match statistics. Strategy differs from pre-match betting as you can observe team performance, conditions, and tactical approaches before betting.

Related: In-Play Betting Guide

What does "double chance" mean?

Double chance covers two of three possible outcomes in one bet: 1X (Home or Draw), X2 (Draw or Away), or 12 (Home or Away). Lower odds than single outcome but doubles your chances. Example: Liverpool vs Chelsea, backing 1X at 1.30 wins if Liverpool wins OR draws. Useful for risk reduction when outcome is uncertain.

What is bankroll management?

Bankroll management is the systematic approach to managing your betting funds, including setting aside a specific budget, calculating appropriate stake sizes (typically 1-5% per bet), and tracking all bets. Essential for long-term success and preventing devastating losses. Good bankroll management prevents chasing losses and emotional betting.

Related: Bankroll Management Guide

Regional Betting Terminology Differences

Betting terms vary by region. Here are key differences:

UK vs US Terminology

Accumulator (UK) = Parlay (US)
Odds On (UK) = Minus Odds (US) or Favorites
Odds Against (UK) = Plus Odds (US) or Underdogs
Draw (UK) = Tie (US)
Treble (UK) = 3-Team Parlay (US)
Dead Heat (UK) = Tie (US) for position

European vs American Markets

Asian Handicap (EUR) = Point Spread variant (US)
Over/Under Goals (EUR) = Totals (US)
Correct Score (EUR) = Exact Score (US)
Both Teams To Score (EUR) = Both Teams Score Yes/No (US)

Advanced Betting Concepts

Closing Line Value (CLV)

Beating the closing line (final odds before kickoff) consistently indicates sharp betting and long-term profitability. If you consistently back at 2.50 and closing line is 2.20, you have positive CLV.

Kelly Criterion

Mathematical formula for optimal stake sizing: (Edge × Decimal Odds - 1) / (Decimal Odds - 1). With 10% edge at 2.00 odds: (0.10 × 2.00 - 1) / (2.00 - 1) = 0.10 or 10% of bankroll. Most bettors use fractional Kelly (25-50%) for safety.

Implied Probability

Converting odds to percentage: 1 / Decimal Odds × 100. Odds of 2.50 = 1/2.50 × 100 = 40% implied probability. Sum of all outcomes' implied probabilities shows bookmaker overround (margin).

Arbitrage Betting

Exploiting odds differences between bookmakers to guarantee profit. Example: Back Team A at 2.10, back Team B at 2.10 elsewhere. Stake £47.62 on each (£95.24 total) returns £100 either way = £4.76 guaranteed profit (5%).

Related: Matched Betting Guide

Conclusion: Mastering Betting Terminology

Understanding betting terminology is fundamental to successful sports betting. This comprehensive A-Z glossary covers 100+ essential terms, from basic concepts like odds and stakes to advanced strategies like arbitrage and expected value.

Key Takeaways:

Start with basics: Master odds formats, stake, returns, and fundamental markets before advancing
Understand value: Learn to identify positive expected value and closing line value
Know your markets: Different betting markets require different terminologies
Regional differences: Terminology varies between UK, European, and American betting
Combination bets: Understanding Trixie, Yankee, and Lucky bets enhances betting options
Risk management: Terms like bankroll, unit, and Kelly Criterion guide responsible betting
Advanced concepts: CLV, arbitrage, and hedging separate professional from recreational bettors

Continue Learning:

How Betting Odds Work - Complete odds explanation
Value Betting Strategy - Finding profitable opportunities
Bankroll Management - Managing your betting funds
Matched Betting - Risk-free profit strategies
Biggest Betting Mistakes - Avoiding common errors

This glossary is a living document. Bookmark this page and return whenever you encounter unfamiliar betting terminology. Mastering these terms is your first step toward becoming a more informed, strategic, and ultimately more successful bettor.

Remember: Knowledge of terminology alone doesn't guarantee success. Combine this understanding with thorough research, disciplined bankroll management, and continuous learning to develop a sustainable betting approach.

Last Updated: January 2025 | Mr Super Tips Expert Team