A-Z Sports Betting Glossary & Terms

The sports betting world has its own terminology and jargon. Some terms can be confusing, especially for new players. Oddspedia’s Sports Betting Glossary let’s you find a quick and simple definition of often-used terms.

Betting Glossary A to Z

Acca Insurance

Accumulator insurance is an offer from a bookmaker which refunds the bettor's stake if only one selection in their accumulator bet is lost.

Accumulator

An accumulator is a type of bet consisting of multiple selections. The accumulator bet wins if all selections are winning.

Learn more: ACCA Betting

ACCA

Short for accumulator.

Action

A slang term for betting in general. It is a way of saying that somebody has placed a wager on an event.

Against the Spread

When a bettor bets against the spread he does not only need to select the winner but also the team/competitor needs to win by more than a set amount of points.

All-In

A term usually used in casino betting when a player bets all his bank.

All-Weather

Usually refers to surfaces. All-weather surfaces allow races all year round no matter the conditions.

Ante-Post

A term used for bets placed at least a day before an event. It is generally used in horse racing.

Arber

Short for arbitrator. A bettor that takes advantage of odds variation and backs different outcomes of one event on different betting sites thus guaranteeing himself a profit.

Arbitrage Betting

This is a betting technique in which a player takes advantage of odds variation and places bets with different bookies, thus guaranteeing himself a profit no matter the outcome.

Learn more: Arbitrage betting

Asian Handicap

A type of bet that evens out the imbalance of strength between two teams or players. It is common for many sports. Asian Handicap also eliminates the draw outcome in traditional 1X2 betting.

Learn more: Asian Handicap

Back

To back something in betting means betting on an event to happen. For example, a team or a player to win.

Bad Beat

To lose a bet which has been seemingly considered won.

Banker

A bet that is considered very safe, almost a certain win.

Bankroll

The amount of money a player has set aside for betting.

Bar

A term that represents the minimum value of odds beyond which competitors are not listed.

Beard

A term used generally in sports betting referring to a person placing a bet on behalf of another. Also Runner.

Best Odds Guaranteed

A bookmaker’s promotion usually offered on horse or greyhound racing. It allows players to get better odds for any pre-event placed bet if it wins.

Bet

Placing money on odds offered by a sportsbook on an outcome of an event.

Bet Constructor

A service that allows players to build two groups of 5 selections of actual sporting events as opponents and place bets on them. The bets are settled based on the combined total goals or points scored in the particular group of events.

Bet live

See Live Betting.

Bet Slip

An area that shows a player’s betting selections and where he puts the bet amount before confirming the bet.

Betting Exchange

A platform/marketplace where bettors place bets against each other rather than against the bookmaker.

Betting Markets

Everything offered by a bookmaker that a bettor can place a wager on during an event. Popular markets include winner, over/under markets, handicaps, scorecasts, etc.

Board Price

Used in horse or greyhound racing. Board price is the price/odds showed on the bookmakers’ boards at a racetrack before a race begins.

Bookie

Short for bookmaker.

Bookmaker

A company/organisation/person that is authorised to offer odds and accept bets.

Bore Draw

A term referring to a game that ends in a 0-0 draw.

BTTS

An abbreviation for “both teams to score”. A betting market that relates to the result of whether both teams will score at least once during a match.

Learn more: Both teams to score

Cash out

A feature that allows players to settle a bet before an event has ended.

Cashback

A popular type of promotion offered by bookmakers that allows punters to get their stake back if a bet is lost.

Chalk

A strong, clear favourite.

Circled Game

A term for games that have a severely limited betting action, either a restriction on the amount a player can bet or restriction in terms of selections.

Clean sheet

A clean sheet refers to a team not conceding a goal in a game.

Closing Line

The final value of odds on a particular event before it begins and the betting on this event closes.

Co-Favourite

A situation when two or more teams/opponents have the same odds of winning.

Combination Bet

A bet that consists of two or more selections.

Combination Forecast

A type of bet generally used in horse and greyhound racing. Using three to six selections, you must guess the first two finishers in a race in any order.

Combination Tricast

A type of bet generally used in horse and greyhound racing. The three selected runners can finish in any order.

Correct Score

A betting market in which the punter must predict accurately the final score of a game. The correct score betting market can be adjusted to every part/half of a game.
Learn more: Correct score betting

Cover

To make a second “safer” bet in order to cover losses from a previous riskier one.

Dead Heat

When two opponents finish exactly even and cannot be separated for betting purposes.

Deposit

To transfer money from a personal bank account into a betting account.

Dog player

A punter who prefers placing bets on underdogs.

Double Action

A bet that consists of two or more selections on events that are at a different time of the day.

Double Bet

Two selections combined in one bet, increasing the potential winnings.

Double Chance

A betting market that covers two out of the three possible outcomes of an event. The double chance betting market gives a player a greater chance of winning.

Learn more: Double chance betting

Double Result

When betting on a double result, players bet on two outcomes - the outcome at half time, and the outcome after full time of a game.

Learn more: HT/FT betting

Doubles

A single bet that consists of two selections.

Draw No Bet

A betting market that eliminates the draw as a result on three-way markets. Players are left with only two options - home and away win; and if the game ends in a draw, the stake is refunded to the player.

Learn more: Draw no bet

Drifter

A term commonly used in horse and greyhound racing. When the odds on a selected horse are getting bigger.

Dutching

A betting technique in which a player backs multiple outcomes on the same event. The purpose of this is to get a profit from at least one of the selections.

Each Way

An each-way bet is a wager that consists of two separate bets. The first one is a win bet while the second one is a place bet. It is commonly used in horse and greyhound racing.

Early Price

Fixed odds that are offered before an event has started. In horse racing, Early odds are those offered in advance, before those at the race track.

Edge

An advantage against the bookmaker in the sense of finding bets with a higher chance of happening than the offered odds.

European Handicap

A betting market in which advantage (goals, points, etc) is given to the underdog or subtracted from the favourite.

Learn more: European Handicap

Evens

Odds of 2.00. When betting on evens, a winning bet will return a profit equal to the stake.

Exacta

A term used in horse racing. With this kind of bet, a punter must correctly pick the first two horses in a race in the right order.

Exotic

Any bet that is different from a straight bet or a multiple. It is often referred to as a prop bet.

Exposure

The potential losses a bettor is exposed to when placing a bet.

Favourite

A team or a competitor that bookmakers consider have the highest chances of winning.

First Goalscorer

A market that relates to picking the correct player to score the first goal in a particular game.

First half bet

A bet that relates to results only from the first half of an event.

Fixed Odds Betting

A type of betting against odds offered by a betting site. In this type of betting, once a player has placed his bet, the payout amount cannot be changed due to the fluctuation of the odds.

Flag Bet

A type of wager that includes 23 bets across four selections.

Fold

A term used to establish the number of selections included in an accumulator bet.

Forecast

A single wager that predicts the exact position of two participants in a sporting event, first or second.

Form

The latest performance results of a team or an individual.

Free Bet

A common bonus provided by bookmakers in order to reward players for their loyalty or to entice them to use their services.

Gambler

A person that places money bets on events with an uncertain outcome.

GamCare

A UK organization that provides help, support and advice for people with gambling problems.

Goal line

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

Goliath

A type of wager that includes 247 bets across eight selections.

Half time bet

A sports betting term that refers to bets placed on the second half of an event.

Half time result

Similar to the match result market, however, the bet is settled at the halfway point of a game.

Handicap

An advantage or disadvantage given to the weaker or stronger team respectively.

Handicapper

A punter that tends to place wagers on handicap markets.

Head to Head Betting

Betting on an outright 2-way betting market - win or lose.

Hedging

A betting strategy that refers to betting on more than one possible result of an event in order to protect yourself against losses.

Heinz

A type of wager that includes 57 bets across six selections.

High roller

A player that consistently wagers great amounts of money.

Hook

A half-point.

IBAS

Independent Betting Adjudication Service

In-play Betting

Placing a wager on an event that has already started.

Jackpot

The biggest prize a casino game has to offer.

Joint Favourite

A term that refers to two or more competitors that are considered with an equal chance of winning according to bookmakers.

Jolly

A bet on the favourite.

Juice

The amount charged by a bookmaker for taking a bet.

Last Team to Score

A betting option in which the punter bets on the last team that will score a goal in a game. The wager is a winning one when the team you have selected scores the last goal of the game.

Lay Betting

To bet something NOT to happen.

Layoff Betting

When sportsbooks place a bet at another sportsbook in order to reduce their liability; or when a bettor limits losses by backing the two sides of a particular market.

Lengthen

To lengthen the odds mean to make something less likely to happen.

Line

Another word for odds or price.

Live Betting

Placing a wager on an event that has already started.

Lock

A lock bet is a bet that is considered a must-win.

Longshot

A longshot is a bet with higher odds and less probability of happening. However, the higher odds bring higher payout if won.

Lose-to-Win Accumulator

A lose-to-Win accumulator is a wager on two or more selections over separate events. In order to win, at least one of the selections must be a losing one.

Lucky 15

A type of wager that includes 15 bets across four selections.

Lucky 31

A type of wager that includes 31 bets across five selections.

Lucky 63

A type of wager that includes 63 bets across six selections.

Martingale

A betting system in which a punter doubles their bet after every loss in order to cover the losses.

Learn more: Martingale system

Matched betting

Placing a cover bet using the free bet from a free bet promo at a bookmaker while placing a lay bet on the same selection at another bookmaker.

Learn more: Matched betting

Money Back Bets

Common promo offers from bookmakers that refund players’ stake if the wager loses.

Monkey

In betting, the word “Monkey” refers to a £500 wager.

Multiples

A combination of multiple single bets into one. A punter must win all selections in order for the multiple bet to pay.

Nap

A tipster’s best bet of the day.

No action

When a sportsbook cancels all wagers on a particular event/market. All stakes made beforehand are refunded no matter if they are winning or losing.

Non-Runner

A term commonly used in horse racing when a horse is withdrawn from a race.

Non-Runner No Bet

A promo offer at sportsbooks in which if a horse you backed for a particular race is withdrawn before the race, your stake will be refunded.

Novelty Bet

Another word for a prop bet - alternative or non-sports related bets, i.e. Winner of Elections.

Number Spread

Check point spread.

Nuts

The best possible hand in any circumstance that cannot be beaten by an opponent’s.

Odds

Odds represent the likelihood of an outcome happening. They are the ratio provided by a sportsbook that will determine the payout of a wager.

Odds Against

Betting odds higher than evens (2.00 or 1/1)

Odds On

Betting odds higher than evens (2.00 or 1/1)

Oddsmaker

A person that estimates the odds for an event.

Off The Board

A term that refers to when a bookmaker has stopped accepting bets for a specific event or market.

Opening Line

The starting/initial value of the odds for an event.

Outright Bet

Placing a wager on the winner of an entire competition, rather than a single match. For example, NBA winner or Premier League winner.

Outsider

A team or a competitor with very slim chances of winning.

Over

Part of the over/under betting markets. In the Over market, you bet that an event in a game will happen more times than the set threshold.

Over-round

The guaranteed profit a bookmaker makes after combining 100% of the probabilities for the outcome of an event/market.

Over-Under Betting

Betting on an event in a game happening above or below a set threshold, i.e. over/under 2 goals in a football game.

Learn more: Over/Under Betting

Parlay

Another word for multiple bet. A combination of multiple single bets into one in order to create a greater payout.

Patent

A type of wager that includes 7 bets across three different selections.

Permutations or Perms

A type of bet that combines multiple wagers in different combinations. In that way, players can still win even if some of the selections lose.

Photo Finish

A photo finish is when two or more competitors cross the finish line at almost the same time and officials cannot determine who is the winner. In this case, a photo or video footage is used to determine the winner.

Place

To place a wager; to bet.

Point spread

A point spread is a wager made on the margin of victory.

Pony

In betting, the word “Pony” refers to a £25 wager.

Pre-Match Bet

A pre-match bet is a bet made before the start of an event.

Price

Another word for odds or line.

Profit

The amount that a punter will win if a bet is successful.

Prop bet

A wager that is not tied to the final outcome of the game, i.e. total fouls, first goal, etc.

Punter

A person that places money bets on events with an uncertain outcome.

Push

A push occurs when the result of a game matches the point spread bet made by a bettor.

Quinella Bet

A type of bet that is common for horse and greyhound racing where a punter must guess the first two finishers in a race regardless of their position - first or second.

Rag

Slang term for an outsider.

Request a Bet

A feature that allows you to create a personalized bet by requesting a bookie to provide you with odds.

Return

The amount of money won from a wager.

Reverse Forecast

Similar to Straight Forecast, however in the Reverse Forecast, you do not need to guess the correct position of the first two finishers.

Reverse Forecast Double

A reverse forecast double is 4 bets, involving 2 reversed forecasts across 2 races.

ROI

Acronym for Return on Investment.

Round Robin

A type of wager that includes 10 bets across three selections.

Rule 4

When a horse is withdrawn from a race and the odds on the remaining horses are adjusted accordingly.

Runner

A term used generally in sports betting referring to a person placing a bet on behalf of another. Also Beard.

Scorecast

A type of wager common for football betting that combines two bets into one - the winner of the match and the first goalscorer.

Scout

A punter that will wait for the perfect bet opportunity (according to his opinion) and bet big.

Sharp

A bettor that is extremely knowledgeable.

Single Bet

A bet placed on a single outcome of an event/game.

Singles

A bet that covers only one selection.

Smart Money

Money bet made by a sharp bettor.

Special Bets

Another word for a prop bet - alternative or non-sports related bets.

Spread Betting

A type of betting in which the bookmaker offers a spread on the outcome of an event. The bettor then should decide whether this outcome will be higher or lower.

Stake

The amount of money a bettor places as a bet.

Starting Price

The odds value of a selection at the start of a race.

Steamer

A term used in horse racing. The opposite of a drifter. When the odds on a selected horse are getting lower because it gets backed more and more.

Straight Forecast

Similar to Reverse Forecast, however in the Straight Forecast, you do need to guess the correct position of the first two finishers.

Straight Forecast Double

A straight forecast double is 4 bets, involving 2 straight forecasts across 2 races.

Straight Tricast

Another word for trifecta. Common in horse and greyhound racing. A punter selects three horses that should finish in the exact order - first, second and third.

Streak

A continuous series of wins in case of a winning streak or losses in a losing streak.

Super Heinz

A type of wager that includes 120 bets across seven selections.

Super Yankee

A type of wager that includes 26 bets across five selections.

System Bets

A combination of multiple single bets into one. The difference between Multiples and System bets is that in system bets a punter can still win even if some of the selections lose.

Tapping out

Losing your entire bankroll.

Teaser Bets

Modified parlay bets where the bookmakers decide which games/events will be combined. In teaser bets, bettors are allowed to adjust the spread line in order to increase or lower the odds.

Tic-tac

A way of communication used by trackside bookmakers to announce the odds of the horses.

Tip

A betting prediction suggested by a third party.

Tipster

A person that provides info and suggestions for wagers.

Tissue Price

Set of odds (prices) based on ratings that are converted into probability.

Totals

A bet on the total number of an event in a game - goals, corners, bookings, points etc.

TOTE Betting

In TOTE betting, the wager you make goes into a cumulative pool that combines all same bet types. The prize money is based on how many people bet and how much money they have bet.

Treble

A type of wager that includes three single outright selections combined into one multi bet.

Tricast Bet

Another word for tricast. Common in horse and greyhound racing. A punter selects three horses that should finish in the exact order - first, second and third.

Trifecta Bet

Another word for tricast. Common in horse and greyhound racing. A punter selects three horses that should finish in the exact order - first, second and third.

Trixie

A type of wager that includes 4 bets across three selections.

Under

Part of the over/under betting markets. In the Under market you bet that an event in a game will happen fewer times than the set threshold.

Underdog

Less-favoured team or competitor in a game or event.

Underlay

When the chances of a competitor are not true and are to the bookmaker’s advantage.

Value Bet

A bet that has identified an edge against the bookmaker and takes advantage of it.

Void Bet

A bet that is cancelled due to specific circumstances and the amount staked is refunded to the player.

Wager

Another term of bet.

Walk over

A term used when a competitor/team withdraws from a race/game and the win is awarded to the other competitor/team.

Whale

Another word for a high-roller. A player that consistently wagers great amounts of money.

White meat

A casino term for gambling profit.

Wincast

A type of bet in which the bettor selects a team to win and a player to score at any time during the game.

Winning Margin

The margin by which a team will win, i.e. two or more goals in football or 10 or more points in basketball.

Wise Guy

A knowledgeable bettor.

Yankee

A type of wager that includes 11 bets across four selections.
    )    (       (       (      (            (       (
 ( /(    )\ )    )\ )    )\ )   )\ )         )\ )    )\ )     (
 )\())  (()/(   (()/(   (()/(  (()/(   (    (()/(   (()/(     )\
((_)\    /(_))   /(_))   /(_))  /(_))  )\    /(_))   /(_)) ((((_)(
  ((_)  (_))_   (_))_   (_))   (_))   ((_)  (_))_   (_))    )\ _ )\
 / _ \   |   \   |   \  / __|  | _ \  | __|  |   \  |_ _|   (_)_\(_)
| (_) |  | |) |  | |) | \__ \  |  _/  | _|   | |) |  | |     / _ \
 \___/   |___/   |___/  |___/  |_|    |___|  |___/  |___|   /_/ \_\