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 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.

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.

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.

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.

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.

Half Time/Full Time Bet

This 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.

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.

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 no 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 a number of goals, cards, corners etc.

Payout

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.

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 the number of goals in a game for example.

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.