Sports Betting 101: Betting Glossary

by | 11 Jun 2022

Hey, punters! This glossary provides clear definitions and explanations for the key terms and phrases you’ll come across as you go deeper into the realm of sports betting, from common betting types like handicaps and margins to more specialized terms like boxed multiples and exotic bets. Use this glossary as a handy reference guide to enhance your betting strategies and earn good profits. Happy betting!

Asian Handicap: A type of soccer bet that reduces the possible outcomes from three to two by removing the draw. Matches can be handicapped in 1/2 and 1/4 intervals.

Bad Beat: Losing a bet due to unusual or unexpected circumstances, such as losing to a clear favourite or losing a bet in the last few seconds of a game.

Banker: Slang term for a bet that’s highly expected to win.

Bankroll/Account Balance: The amount of funds available in a bettor’s betting account.

Bet/Wager/Stake/Punt: A gamble on the outcome of an event.

Bettor/Punter: Someone who places a wager on the outcome of an event.

Boxed Multiple/Round Robin: A multi-bet that combines one or more single bets and/or parlays, where not every selection needs to be correct to provide a return.

Dividend: The payout or return (in currency terms) from a winning bet.

Draw No Bet: A popular bet type that wins if your selected team wins and refunds your bet if the game is a draw.

Drifted/Lengthened: This means the odds on an outcome have increased, suggesting that the outcome is considered less likely to occur.

European Handicap: A wager where points or goals are added to the underdog and subtracted from the favourite to settle the bet on the outcome of the event.

Even Money: A betting outcome at 2.00 decimal odds.

Exotic Bet/Proposition Bet/Props: A bet that doesn’t directly concern the final scoreline, such as the first scorer in a game.

Exotic Multiples: Bets that combine one or more single bets and/or multiples.

Fixed Odds Bet: A form of wagering where the punter knows the exact odds they’ll receive when they place a bet, and the odds are fixed once the wager has been placed.

Form: A measure of the recent success of a participant.

Futures Bet/Ante Post: A bet on the winner of the league or tournament.

Half Ball: A popular bet type that wins if your selected team wins or draws the game.

Handicap/Line: A predetermined number of points/goals/tries that are added to the underdog’s tally, designed to create close to a 50% chance of winning for each team.

Head to Head Bet/1X2: A bet on the winner of a fixture between two opponents.

In Play/In the Run/Live: Betting on a fixture that has already commenced.

Leg/Fold: One of the selections that make up a multi-bet.

Line Bet/Handicap Bet: A bet where the underdog is given a points head start to create an even bet.

Long Odds/Long Shot: Refers to high odds on an outcome perceived to be unlikely to occur.

Margin: The amount by which one team/competitor defeats another.

Margin Bet: A bet on the amount of points/goals by which one competitor finishes an event in front of another competitor.

Moral: An absolute certainty.

Multi Bet/Multiple/Accumulator/Parlay/All-Up: A bet that includes simultaneous selections on two or more outcomes for two or more events.

Odds on Favourite: The team/competitor with the shortest odds, considered the most likely to win.

Over/Under: A wager on how many goals/tries/points there will be in the fixture, combining the tallies of both sides.

Push: Another term for a draw or tie.

Single Bet: A bet on a single outcome within a particular event or tournament.

Spread Betting: A type of betting where the win/loss is proportional to the accuracy of the wager.

Stake/Bet/Wager/Punt: A gamble on the outcome of an event.

System: A formal betting methodology based on calculated probabilities of each possible outcome.

Tips: Predictions and recommended betting selections made by an astute punter or specialist in the sport.

Tipster: Someone who offers betting tips and predictions.

Total: A wager on the total number of points scored by either one or all participants in a sporting event.

Tote Betting/Parimutuel Betting: A form of wagering where bets of a particular type are placed together in a pool. The “house-take” is removed, and the payoff odds are calculated by sharing the pool among all winning bets.

Wager/Bet/Stake/Punt: A gamble on the outcome of an event.

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