Sports Betting Terminology

A

Accumulator

Accumulator, denoted as ACCA in sports betting, refers to a betting type with multiple selections. Accumulator bets are only won when all the selections actually happen.

Accumulator Insurance

Accumulator insurance refers to a security that returns a player's wager in an event where only one out of his/her selections in the accumulator bet turns fails to happen.

Action

Action in sports betting refers to the total amount of money a player has placed as a bet on predicting an outcome. It is also used to refer to the number of contests.

Added Game

An added game in sports betting is used to describe a game that has been added to the main list of the games to be played on a particular day.

Against The Spread

To bet against the spread means to make a bet predicted that your selected team must win over the opposing team with a particular amount of points.

All In

When a player goes all-in, this means that the player decided to bet all of the funds in his bankroll on a single prediction.

Ante-Post

Ante-post refers to a bet that is placed on a date previous to the day of the event.

Arbitrator

An arbitrator in sports betting refers to a bettor that takes advantage of the variation of odds and predicts different outcomes of the same event on different betting sites such that he/she is always guaranteed profit.

Asian Handicap

Asian handicap refers to a two-way type of bet which assists in evening out the strength imbalance.

B

Back

Back in sports betting refers to placing a wager on the prediction of a specific outcome of an event.

Bad Beat

A bad beat is to lose a wager which appears to be won.

Banker

The Banker in any selection is a secure bet. This is the kind of bet which is believed to be the most likely to win.

Bankroll

Bankroll in sports betting describes the amount of money that has been set aside or placed in an account for betting. A bettor's bankroll rises with each winning and decreases with each loss.

Bar

The minimum value of odds for any runners in a race that have not been cited with a price during early shows.

Beard

A beard is someone (also a runner) who places wagers for professional bettors so they can hide their identity.

Bet

A bet is a prediction of the outcome of an event wagered at a sportsbook, casino, racebook or poker room. A stake is attached to its success or failure. Money is almost always the stake.

Best Odds Guaranteed

This means you will get the best price for any pre-event placed bet. And even if the odds change, it'll be with better odds. It is mostly associated with horse racing.

Bet Constructor

Bet constructor service that allows bettors to build groups of selections of actual sporting events as opponents and place wagers on them. The wagers are settled based on the combined total points scored in the particular group of events.

Bet Live

To bet live means to place a bet on an event that has started. It is also known as in-play or in-running betting.

Bet Builder

Bet builder is a tool provided by a bookmaker which allows the bettor to create his own wager using a wide range of market combinations.

Bet Calculator

A tool that can be quickly used to calculate your wager profits.

Bet Slip

Bet slip refers to a betting document that shows all the bettor's betting choices and where all the data about the bet is stored. The bettor puts the bet amount on the bet slip before placing the bet, and it also calculates the returns of all the choices.

Betting Exchange

Betting Exchange is a peer-to-peer network where bettors wager against and between themselves rather than against the bookmakers, and the wager of other uses determines the odds.

Betting Limits

Betting limits refer to the highest or lowest amount you can wager as a bettor.

Betting Market

The betting market refers to all types of wagers that bettors can place a wager on during an event. It is also called the betting category. Examples include the over/under markets, fixed odds market, spread betting markets, handicaps etc.

Betting Odds

An expression of the possibility of an outcome. They are also used to calculate the bet returns.

Betting Ring

A betting ring is a region where bookmakers operate at a race event.

Betting Strategy

Betting Strategies in sports betting refers to the various tactics that bettors use to get a head start on bookmakers. This requires adequate bankroll management and extensive research and studies before placing bets.

Bismarck

Bismarck is a situation where the bookmakers expect the favorite bettor to lose. At times they encourage promotions and bets in the direction of the favorite.

Board Price

Board price refers to the price and odds shown on the bookies' board before the event begins. Mostly used in horse racing.

Bookmaker

A bookmaker is an operator authorized to offer wagers, your wagers are set against them, and they provide markets for you to choose from. They are also referred to as bookies, or books for short.

Booking Points

Usually associated with a football market. This market is based on how many red or yellow cards are given to the football players during the game.

Bore Draw

A bore draw is an event ending in a 0-0 draw.

BTTS

An acronym for "Both Teams To Score." It is a betting market that relates to seeing if both teams would score at least once by the end of the event.

Both Teams To Score And Win

A double wager where a bet that both teams would score at least once and the team the bettor backs should win the game is placed. If, at the end of the game, the bet meets both conditions, then the bet is successful.

Buck

A bust is used to describe a $100 bet

C

Cash Out

Cash-out is a feature offered by sports betting sites that allows players to settle a bet before the event has ended.

Cashback

Cashback refers to a kind of promotion only offered by bookmakers on a few sports betting sites. Cashbacks provide security for punter's bets, such that if they lose their bet, they still get back their stake.

Chalk

Chalk in sports betting is synonymous with the word "favorite." It is used to describe a favorite player or team.

Circled Game

Circled games in sports betting refer to a game with a lot of restrictions in terms of betting action or bet selections.

Clean Sheet

A clean sheet is recorded when a team does not concede a single goal in a game.

Closing Line

The closing line in sports betting refers to the value of final betting odds posted before a game starts.

Co Favorite

The term "Co Favorite" describes a situation where two teams have the same probability of winning.

Combination Bet

A combination bet can be described as a bet that consists of at least two selections.

Correct Score

A correct score is achieved when a punter's prediction of a game's outcome comes true.

Cover

To cover a point spread means for the team you are backing to win a higher score or point than you predicted.

D

Dead Heat

Dead Heat in sports betting refers to a situation where two opponents end up with a tie, and the victor and loser cannot be recognized for betting purposes.

Deposit

To deposit means to fund your sports betting account from a personal bank account.

Dime

A dime is used to describe a $1000 bet.

Dog

Dog in sports betting refers to the team that everyone assumes will lose.

Dog Player

A dog player refers to a gambler who likes to place his/her on underdogs.

Doubles

Doubles refers to a single bet that has two selections.

Double Action

Double action in sports betting is used to describe a bet with at least two selections on events at separate times of the day.

Double Bet

A double bet refers to a bet in which the amount doubles the normal betting wager, thereby increasing the potential winnings of the bettor.

Double Chance

Double chance refers to a betting market that gives a player a higher chance of winning by covering 2 out of 3 possible outcomes of an event.

Double Result

To bet on a double result means to bet on two outcomes of a game; the outcome at halftime and the outcome at the end of the game.

Draw

A draw in sports betting can only occur when the game falls exactly on the spread; there is no loser or winner. In this case, the bettor will receive their money back. It is also known as Push.

Dutching

Dutching is a technique in sports betting that involves a player supporting multiple outcomes of an event.

E

Each Way Bet

An each-way bet Is a type of bet that contains two different bets (win bet & place bet).

Early Price

Early price in sports betting refers to the fixed odds, which are normally offered long before the event or game has commenced.

Edge

Edge in sports betting is used to describe the advantage a bettor has over the bookmaker before the bet has been placed.

European Handicap

European Handicap refers to a betting market where the greater edge is either given to the underdog or subtracted from the favorite.

Evens

Evens are at odds with a value of 2.0.

Exotic

An exotic is a non-traditional type of bet. It is different from multiple or straight bets and is most times listed as a prop bet in the sportsbook.

Expected Value

Expected value in sports betting is a calculation

Exposure

Exposure is used to describe the amount of money a sportsbook could potentially lose for a specific game.

F

Favorite

The favorite in sports betting refers to the team the bookmakers believe has a higher chance of winning.

First Goalscorer

A first Goalscorer refers to a bet that involves the prediction of the first player to concede a goal in a particular game.

First Half Bet

A first-half bet can be described as a bet that involves the prediction of an outcome that will only happen in the first half of the game.

Fixed Odds

Also known as Moneyline odds. Fixed odds refer to place bets that the bookmaker has accepted, and the payout amount doesn't change.

Flag Bet

A flag bit is a type that consists of 23 bets, all across four selections.

Fold

Fold refers to the amount of selection that is in an accumulator bet.

Form

Form in sports betting refers to the current performance level of either a player or team.

Free Bet

Free bet is a type of promotion offered by bookmakers that reward players for their loyalty and also entices new players to employ their services.

Future Bet

A future bet is a bet that involves the prediction of an event that is set to take hold in the distant future.

G

Gambler

A gambler is an individual that places money bets on the prediction of the outcome of a game or event.

Goal Line

Goal line betting refers to a betting system that predicts the number of goals that will be scored in a particular game.

Goliath

Goliath refers to a type of bet that includes 247bet across eight selections.

Graded Bet

A graded bet in sports betting is a bet that is officially marked by the bookmaker either as a push, winner or loser after the event or game has ended.

H

Half Time Bet
Halftime bet refers to the types of bet in sports betting that are placed on the second half of an event.
Halftime Result
A halftime result refers to the types of bet where the bet is settled at half the time of the event/game.
Hedging
Hedging refers to a betting strategy that involves betting on more than one predictable outcome in order to gain profit.
Heinz
Heinz refers to a sports betting bet with 57 bets across six selections.
High Roller
A high roller refers to an individual that is known to bet huge amounts of money. It's also known as a whale.
Hook
The hook is a half point

I

Play/Live Betting
In-play betting/Live betting refers to a type of betting that involves placing bets on the prediction of an event or game that has already started.

J

Jackpot
A jackpot can be described as the prize with the highest payout amount any casino can offer.
Joint Favorite
Joint favorite refers to at least two competitors that the bookmakers consider to have the same chances of winning.
Juice
Juice is the fee that the bookmaker charges for taking a bet.

L

Lay Betting
Lay betting refers to placing a bet on the prediction that an outcome will not happen.
Layoff Betting
Layoff betting refers to a system of betting where a bettor limits his/her losses by backing the two sides of an event.
Lengthen
To lengthen an odd means to reduce the chances of something happening.
Lock Bet
A lock bet refers to a type of bet that is considered a sure win.
Longshot
A Longshot refers to a bet placed on predicting an outcome that is very unlikely to happen. Longshots have higher odds and consequently give high payouts when won.
Lose-to-Win Accumulator
A lose-to-win accumulator is a bet on at least two selections over different events/games.

Lucky 15

Lucky 15 is a bet that consists of 15 bets across four selections

Lucky 31

Lucky 31 is a bet that consists of 31 bets across five selections.

Lucky 63

Lucky 63 is a bet that consists of 63 bets across six selections.

M

Martingale

Martingale refers to a betting system where a punter doubles his bet after every loss in hopes to make up for the losses with the high payout amount.

Money Back Bets

Money-back bets refer to the promotion offered by a few bookmakers where players' stakes are refunded if they lose their wager.

Multiples

Multiples are used to describe a bet that consists of a combination of many single bets. In order for a multiple to be won, all the selections must be won. It is also known as Parlay.

N

No Action

No action refers to a situation where the bookmaker cancels all bets on a particular event. In this kind of situation, all the stakes are refunded to the bettors.

Non-Runner

A non runner refers to a player that is withdrawn from a game. It is mostly used in horse racing. If a player places a bet on a non-runner, the bettor's stake will be refunded.

Nuts

Nuts refer to a very strong hand that can't possibly be beaten in any circumstances by an opponent.

O

Odds

Odds refer to the tendency of an outcome to happen. It is the ratio that is employed to determine the payout of a bet.

Oddsmaker

An oddsmaker is an individual who calculates the odds of a game/event.

Off The Board

The term "off the board" is used when the bookmaker closes the window of accepting bets on a particular game or event

Opening Line

The opening line describes the initial value of the odds for a particular game.

Outright Bet

An outright bet refers to a bet placed on the prediction of the winner of a competition and not a single game.

Outside

Outside describes a team or competitor with very small chances of winning.

Over

Also known as the game total odds. It is when you bet on a prediction that a particular event would occur in a game more times than the normal threshold.

P

Patent

A patent is a wager that consists of 7 bets across three separate selections.

Permutations (Perms)

Permutations are wagers that consist of multiple wagers in separate combinations. Unlike multiples, players can still win if some selections lose.

Photo Finish

Photo finish is used when two competitors cross the finish line at the same time, and it's difficult to separate the winner from the loser. Picture footage is used to determine who the first person is.

Place

To place a bet or wager.

Point Spread

A point spread refers to a bet made on the edge of victory.

Pony

Pony is a £25 wager.

Pre-Match Bet

A pre-match bet is a bet made before the game starts.

Profit

Profit refers to the amount of money a player stands to win if he/she wins the bet.

Prop Bet

Prop bets refer to bets whose winning status can be determined without waiting for the final outcome of the game. Examples of prop bets include first goal and total fouls. It is also known as special prep.

R

Request A Bet

Request a bet refers to a feature that allows a player to create his own customized bet by asking a bookmaker to present him/her with odds.

Return

Return refers to the money that is won from a bet.

ROI

Return on investment

Round Robin

Round robin refers to a bet that consists of 10 betas across three selections.

Runner

A runner in sports betting is used to describe a person that places a bet on behalf of another person.

S

Scorecast

Scorecast is a very common wager in football that bonds two bets into 1.

Scout

A scout is a bettor who observes games, waits for the perfect bet opportunity, and then bets with a large amount.

Sharp

Sharp is an individual who has a lot of knowledge and experience in betting. They are also known as a wise guy.

Singles

Singles refer to bets that only have one selection.

Smart Money

Smart money refers to the returns made by a sharp bettor.

Stake

Stake refers to the amount of funds a bettor places as a wager.

Streak

A streak refers to a continuous series. It may be used both in terms of wins and losses. Examples; A continuous streak of wins.

Super Heinz

Super Heinz is a wager that consists of 120 bets across seven selections.

Super Yankee

Super Yankee is a water that consists of 26 bets across five selections.

T

Tapping Out

To tap out means for a player to lose his entire bankroll.

Teaser Bets

Teaser bets are bets that can be modified in terms of their spread line in order to increase or reduce their odds.

Tic-tac

Tic-tac is a method of communication popularly used in horse riding. It is employed by trackside bookies in order to announce the odds.

Tipster

A tipster is an individual who gives betting advice.

Totals

Totals refer to a type of betting which involves the total number of specific events in a game. E.g., total goal, corners.

Treble

Treble is a wager that contains three selections combined into one bet.

U

Under

To bet under means placing a bet on a prediction that a particular event will occur in less time than the average threshold.

Underdog

The underdog in sports betting refers to the least favorite team or individual in a game or event.

V

Value Bet

Value bet refers to a bet that is placed by a player who believes an edge over the bookie.

Void Bet

A bet is declared void when the bet is canceled due to specific reasons. In this case, the stake is refunded back to the player.

W

Wager

Also known as a bet.

Walk Over

Walkover is used when a player or team withdraws from a game, tournament or competition.

Win cast

Win cast refers to a type of bet where the bettor predicts the team that will win and the player that will score during the game.

Winning Margin

Winning margin refers to the range by which a team will win a game.

Y

Yankee

Yankee is a type of bet that consist of 11 bets across four selections.