A
- Accumulator: A bet that includes multiple selections; everything must be correct for the bet to be successful.
- Action: Any live betting option, as well as the sum total of all bets placed on a particular event. Bookmakers take action on all of the odds that are shown.
- AET odds: After extra time odds, often known as AET odds, are placed largely on football matches. These odds are provided after extra time is extended at the conclusion of regular time as a result of stoppages that occurred throughout the game. The odds based on AET are included in the live betting choices.
- All-in: A betting action where the player bets all remaining chips/funds.
- Arbitrage: Arbitrage betting, sometimes abbreviated as “ARB,” refers to a method of betting in which all of the outcomes of a single game are taken into consideration. The only time that bookmakers provide betting options on ARBs is when they cannot agree on how accurate the odds should be for a certain game.
- Asian Handicap: A specific type of handicap betting that originated in Asia is famous for football betting.
B
- Bad Beat: Losing a bet in unlikely and particularly unfortunate circumstances.
- Banker: A bet that is considered almost certain to win.
- Bankroll: An amount of money allocated for bets.
- Bet Limit: The minimum and maximum amount a player can bet.
- Betting Exchange: A betting platform that eliminates the need for a bookmaker, allowing punters to bet directly against each other.
- Bettor: The person making a bet.
- Bonus: Players are offered a special offer to encourage loyalty, attract new players, and incentivize existing players to play more.
- Bookie: A commonly used abbreviation of “bookmaker” (sportsbook).
- Bookmaker: A individual or organization that takes bets on a professional basis.
- Buying points: The act of paying to receive half a point or more in your favor on a point spread bet.
C
- Cash Bonus: Free money offered to new players at an online casino; these usually come with attached T&Cs.
- Cashback: A refund credited to a player’s account, usually based on a percentage of his losses.
- Chalk Player: Someone who generally endorses favorite teams/players.
- Chalk: A term for your favorite team/player.
- Circled Game: A game where the betting action/max bet is limited.
- Combo Bet: Any bet with more than one selection.
- Commission: The casino commission takes all winnings; this is how casinos make a profit.
- Cover The Spread: Any bet in which the favorite wins and the final score is higher than the point spread placed on the game.
- Croupier: French for “dealer in roulette,” the operator of the roulette wheel.
D
- Decimal odds: One of the three primary methods for expressing odds is represented using the numeral two.
- Deposit: The player’s actual cash payment to the online casino to play the games.
- Dog:An acronym for the underdog.
- Double: A bet consisting of two separate options.
- Draw: The results of a draw, usually a lottery drawing.
E
- Each Way: A two-way bet. The first part of the bet is on the selection to win, and the second part of the bet is on the same selection to finish in the top three places.
- Edge: The lead over the opponent.
- Even Money: Bet where you stand to win the exact amount you bet.
- Exotic Bet: A term used to describe a non-standard bet.
- Expected Value: A theoretical measure of how likely a bet is to win over the long term.
F
- Favorite:The selection in a betting market is more likely to win.
- FIFA World Cup: The tournament of the World Cup, which takes place once every four years, is the most watched football competition on the whole planet.
- Final Four: The four remaining teams in a competition.
- Fixed odds: Odds agreed upon when a bet is placed. They do not change even if the odds for their selection move in the future.
- Form: Recent achievements of a team or individual.
- Fractional Odds: One of the three main formats used to express odds, commonly used in the UK.
- French Open: The second of four Grand Slam tennis championships for both men and women, which takes place over the course of two weeks between the end of May and the beginning of June.
- Future Bets: Bets on an event that will occur in the future.
G
- Game total bet: Gambling on the total number of goals, points, or runs that will be scored in a game using the Over/Under system.
- Graded Bet: A bet that, once a competition has come to a finish, is formally marked by bookmakers as either a winner, a loss, or a push. After a bet has been graded, either the winnings or any push refunds will be handed out.
- Grand Salami: A bet for ice hockey on the total number of goals in all ice hockey games on a specific day.
- Grid: In online sports betting systems, the display of all potential bets is referred to as a grid.
H
- Halftime Bet: A bet placed on the first half of the game only.
- Halftime Bet: A bet placed on the second half of the game only.
- Handicap Betting: Is a kind of betting in which a bookmaker may potentially add points or goals to the underdog in order to determine the result of the bet.
- Handicapper: Refers to a bettor who pays great attention to statistics and several other important aspects in an effort to make accurate predictions.
- Hedging: The placing of bets against previously placed bets to help reduce risk or secure profits.
- Home Field Advantage: The expected advantage of having a home field.
- Hook: A half-point element used in point spreads and totals bets.
- House Edge: The likelihood of the casino winning any money.
I
- If Bet: A bet consisting of at least two separate bets joined by an “if” clause determines the betting process.
- Implied Odds: Odds that do not currently exist but are calculated based on the expected payouts when a hand hits.
- Implied Probability: The theoretical probability of a particular outcome based on the odds on that outcome provided by a bookmaker.
- In-play wagering: Bets are placed after an event has begun.
J
- Jackpot: A large cash prize
- Joint favorite: There are at least two different players posting the same odds for betting on the same event.
- Juice: Bookmakers add a margin or profit to the odds that they give, which is referred to as “juice.”
L
- Lay: To accept a bet; for example, a bookmaker accepts bets from punters.
- Laying the Points: The act of betting on the favorite with a point spread.
- Limit: The most a bookmaker will allow a punter to bet before changing the odds or points.
- Line: The odds or point spread that are given by a bookmaker are referred to as the “line”.
- Linesmaker: The person or persons who set the odds/lines at a bookmaker.
- Live betting: Once a sporting event has begun, live betting, which is sometimes referred to as “in-play betting,” is made available. As a match progresses, the spreads, moneylines, and totals will be modified and re-posted accordingly. There are additional prop alternatives, like who will score the next goal and what the right ultimate score will be.
- Lock: A bet that is considered almost certain to win.
- Longshot: A choice in a betting market that is thought to have a low chance of winning.
M
- Margin: The amount by which the winner of an event finishes ahead of the competitor.
- Matchplay: Same as a cash bonus.
- Moneyline Bet: A simple type of bet on a selection to win the relevant match/event.
- Moneyline Odds: One of the three primary forms for presenting odds, moneyline odds, is most often used in the American market.
- Multiple: A term used to describe any bet that contains more than one selection.
N
- No Action: A sports bet where no money is won or lost.
- No Limit: A game with no limit on the bet amount per round.
- No-Deposit Bonus: Free money given as a thank you for joining an online casino that requires no initial cash deposit from the player.
O
- Odds against: the odds are higher than the stake; you can win more than your bet.
- Odds compilers: People who set the odds/lines at a bookmaker and adjust them as needed to create an even book.
- Odds: Determines the potential payout of a bet.
- Off Board: A game on which the bookmaker offers no action at the moment.
- Over/Under Bet: A bet on the total number of something (such as points or goals scored in a match). The bookmaker sets a total and you bet on whether the actual total will be higher or lower.
- Overlay: Odds that are stacked in favor of the player and are greater than they should be.
P
- Parlay: A bet with more than one choice that must all win for the bet to pay out.
- Payoff: A victory results in a payoff, which is defined as the money won.
- Payout: The amount of money received by a bookmaker following a win.
- Point Spread: The money received from a win where the bookmaker awards points or targets to the underdog to create a theoretically level playing field. The points awarded are also called the “point spread.”
- Price: An alternate term for odds.
- Proposition Bet: A bet on a specific outcome in a sporting event, for example, the first player to score.
- Push: A tie bet where the stake is returned to the punter.
S
- Short Odds: Low odds are also often referred to as “short odds.”
- Sides: The game’s two opposing teams, the underdog and the favorite.
- Single: A bet with one selection.
- Sportsbook: An alternate term for a bookmaker.
- Spread betting: A bet where the amount the bettor wins/loses is determined by the margin by which the value of a specific outcome varies from the expected value quoted by a bookmaker.
- Steam: Describes a substantial move in a line of bets or odds, usually caused by the amount of money wagered.
T
- Taking Points: Betting on the underdog and his advantage in the point spread.
- Teaser: A point spread bet with multiple selections where the punter can adjust the spread for each selection in their favor.
- Ticket: The sports betting slip.
- Totals Bet: A bet on the total number of something (such as points or goals scored in a match). The bookmaker sets a total, and you bet on whether the actual total will be higher or lower.
- Triple: A bet made up of three different selections.
U
- Under: In-game total betting is the opposite of the Over option.
- Underdog: The selection in a betting market that is least likely to win.
V
- Vigorish: The profit margin that bookmakers build into the odds they offer. Commonly referred to as “vig” or “juice.”
W
- Wager: Putting money on any of the events that are being provided in a casino, racebook, or sportsbook.
- Wimbledon: The women’s and men’s tennis competitions that make up the third Grand Slam are contested over the course of two weeks in late June or early June, depending on the year.
- Wiseguy: An expert bettor.
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