Sports Betting Glossary

Sports betting Glossary

If you’re new to betting it’s so difficult to know where to start. We’re blessed today that every betting market is expansive and almost every sport is covered.

With that of course comes a whole heap of jargon that can even leave the most experienced punter every now and then.

At Betting Apps we welcome all types of player and to give you a helping hand before heading to download the best mobile betting apps, we’ve put together a complete sports betting glossary.

Below you’ll find some of the most common terms in betting and the meanings behind them…

Full betting glossary - Every phrase about gambling you'll ever need to know

Accumulator

One of the most popular bets to place, an accumulator is a series of bets combined into one. This means that if one of the bets in that series fails, your bet loses. All parts of the bet must come through to win.

Against The Spread

Going against the spread is a wager similar to a handicap bet with extra goals or points given to a team. The winning side must then win taking that handicap into account. It’s often found in NFL betting.

American Odds

One of three different types of odds. As you can probably guess American odds are popular in the USA and work by having a – or a + in front of three figures. The + figure is the amount you’ll receive back should you back the bet with $100 with the – figure being the number you need to bet to receive $100 back.

Ante-Post

Ante-Post Betting is a type of bet found in horse racing and is ultimately a wager that’s placed before the confirmation of the runners for a race.

Asian Handicap

An Asian Handicap is a type of handicap betting that alters the bias of two competing teams. It is notably different to handicap betting as it eliminates the draw.

Bankroll

Your bankroll is ultimately just the amount of money you currently have to bet with in your account.

Best Odds Guaranteed

Best Odds Guaranteed is often offered by bookmakers across horse racing selections and essentially if the Start Price on a horse is longer than when you placed the bet, the bookie will pay out the Start Price to you should it win.

Bonus

A bonus is an offer a bookmaker will give in various forms essentially as a gift. Free bets and welcome bonuses are most common and you’ll find most betting apps will offer them.

Cash Out

Cash Out is a popular feature with punters that allows you to take a partial return before the outcome of a selection has completed. The return you’ll receive depends on the particular circumstance in the game including current scoreline, time played and general gameplay.

Correct Score

Correct Score is a market popular across most sports, most notably football betting, and simply involves punters backing the correct score of a match.

Decimal Odds

Like American Odds, this is another form of betting odds with the odds displayed in decimals. They’re incredibly common and you can work out your winnings by simply multiplying your wager by the decimal.

Double

A double is a single bet made up of two different markets. In order for you to win the bet both selections within the single bet must win. If just one selection wins, your bet loses.

Draw No Bet

With a Draw No Bet wager, your stake will be returned if the event finishes a draw. This means you can ultimately just back a winner or loser.

Edge

This ultimately means the advantage. The bookmakers will almost always have the edge, but there are ways in which you, the punter can have the edge when value is found.

Each-Way

Each-Way betting is a market in horse racing that involves placing a wager on a horse but splitting that into two separate bets, one on the horse winning and one placing.

Favourite

The favourite in a betting market is simply the outcome which is most likely to win according to Bookmakers.

First/Last Goalscorer

This is a popular market across football, rugby and many other team sports in which punters bet on the player who will score first or last in a game.

Fractional Odds

Fractional Odds are the most common form of odds in the UK and work in the sense of the number of the left being the number of times an outcome will lose of the combined fraction’s total and the number on the right being the number of times the outcome will win.

So if the odds on a team were 3/1, the bet would likely win once out of four attempts.

Futures Bet

This is a bet that is made on a future event and is designed to offer a payout in the long term rather than short. This could be a bet on a team to win the Premier League for example.

Goliath

A Goliath is a huge wager that’s made up of 247 bets on 8 selections, built in order to maximise your profits and ensure you get some form of payout. The bet is made up of a series of doubles, trebles, and accumulators up to 8-fold.

Half Time/Full Time Bet

Half Time/Full Time betting is essentially a match result bet but split into two. In order to win you must correctly predict the team to be winning at half time and then at full time. You only win the bet if both outcomes are predicted correctly.

Handicap

This wager slaps a handicap on an outcome in order to balance the evenness of a tie. For example, if it was a football match, the favourite would be handicapped a goal or two, with the odds reflecting this.

In order to win, the team must then overcome that handicap.

In-Play Betting

In-play betting is relatively simple to understand and ultimately involves just placing a bet while the action is live.

Lucky 15

Lucky 15 is a big wager that uses four different selections to place 15 bets. This is in order to increase your chance of making a profit on your bets. The bet is built up of 4 singles, 6 doubles, 4 trebles and a 4-fold accumulator.

Matched Betting

One of a number of popular betting strategies, matched betting is designed to ensure your bets don’t make a loss by covering all eventualities.

Match Result/Money Line

This is a wager that is simply betting on the winning outcome of a fixture.

Moneyback Specials

Moneyback specials are often offered by major betting platforms like the Paddy Power Sports app and will ultimately refund losing bets if certain circumstances happen in the event. You’ll often find these in the offers section on betting sites and advertised well on social media.

Multiple

A multiple is a way of combining more than one bet in order to boost your odds. A Double is betting on two outcomes with both having to come through to win. A Treble is three and an accumulator is also a form of multiple betting.

There are also more complex wagers that fall into this category such as Trixie, Lucky 15 and Yankee.

Non-Runner

What is a non-runner in horse race betting_

A non-runner is mostly found in horse racing and is a selection that is not longer starting. In many cases you will receive your stake back under the non-runner no bet rule.

Odds

Odds are what you’ll receive on every market and are simply the probability of each outcome happening.

Outright

This is a bet on an overall winner across a particular competition or tournament. For example the World Cup or Wimbledon.

Over/Under

This is a betting market in which the outcome is over or under a specific figure. In football for example this could be an amount of goals, cards, corners etc.

Patent

A patent is a popular betting system used in horse racing, among other sports, and sees 7 bets placed on three selections. These are made up of 3 singles, 3 doubles and a treble.

Payout/Return

This is the figure you’ll receive should you win a bet.

Prop Bet

This is a bet that involved something that will happen within a match. For example in football this might be corners or cards.

Single

A single is one single bet that’s made on one selection.

Start Price (SP)

The Start Price is simply the odds of each horse winning when the race begins.

Totals Bet

This is a bet in which you wager on the total outcome across both opponents. This could be number of goals in a game for example.

Trixie

One of the more popular betting systems is a trixie. It’s easy to use and is made up of four bets on three selections. It’s made up of 3 doubles and a treble and is built to maximise your chance of a payout.

Value

Value is found when a bookmaker is offering odds that are offered as having a lower chance of winning as they probably should. This would, therefore, give you a bigger profit.

Yankee

A yankee bet is a system use by more experienced punters that sees 11 bets made across four different selections. It’s made up of 6 doubles, 4 trebles and a 4-fold accumulator.

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