The Ultimate Sports Betting Terms Glossary
When visiting a bookmaker’s website for the first time, a novice bettor or those who are not familiar with betting terms will quickly discover that there is a special language involved in betting that they must be proficient in if they want their bets to win. Similar techniques and knowledge are required to place wise bets whether you’re using the bookies’ mobile app, visiting a physical betting shop, or placing a wager on a live race or event.
Because they are often used, the key terminology in betting can be quickly learned and will be useful for years to come. If you want to learn the difference between handicap betting, spread betting and evens, you’ve come to the right place. MrBetting’s team of betting experts have put together the ultimate list of terms to improve your skills and teach you all that you need to know to place a bet like a pro using the best betting sites!
When I See Terms Related to Betting That I Don’t Understand, What Should I Do?
We’ve done everything we possibly could to provide you with the most thorough explanation of all the important betting terminology available. Whether you’re looking for definitions of terms related to football, horse racing, or other general betting, this glossary might serve as a helpful resource to help you avoid misunderstanding.
However, some sports bettors might feel that there are other things that they don’t understand; maybe a website has a unique method of expressing things that we haven’t seen. In that situation, don’t simply leave it and hope for the best if you don’t know what anything signifies. Our recommendation is to get in touch with customer support.
Sports Betting Terms Explained
There are many different betting terminologies for each form of betting that players may encounter across betting worlds, so they should get familiar with them. It should be easier for you to make better betting judgments if you grasp the meanings behind these betting terminology in addition to enhancing your basic betting knowledge. We constantly update this guide to help you keep up with the latest betting terms to improve your betting IQ and experience overall.
Below are all the current betting terms, as well as betting term explanations.
Accumulator – Also known as parlay betting, it’s one bet that combines many selections is known as an accumulator wager. For the wager to be profitable, every option must win.
Acca Insurance – There are only accumulator bets eligible for this kind of offer. If your bet fails by one option, you will receive your money back.
Alphabet – With this type of bet, you place up to 6 selections. These six choices include one sixfold accumulator, one Yankee bet, and two Patent bets. There are 26 bets in the Alphabet bet.
Arbitrage Betting – When you use odds from several bookies to back every scenario that might occur during an event, you can mathematically ensure a profit. Remember that there are a lot of dangers involved with this type of bet, so it’s better for professional bettors.
American Odds – A sort of odds preferred by American bookmakers and typically found in American sports. A negative symbol represents the favourite’s odds, whereas a positive sign represents the odds of the underdog.
As an example, to win £100, the amount you would need to stake is shown by the negative sign. It would take £500 to win £100 if your chances were -500. The amount you would earn for every £100 bet is indicated by the plus symbol. This means that if you bet £100, you would earn £500 at +500.
Ante-Poste – This type of bet is more commonly seen in greyhound and horse racing. It allows for bets to be placed before the race has started.
Asian Handicap Betting – A sort of handicap betting common in Asia. In sports with mismatched teams, this kind of betting seeks to level the playing field.
Asian Corners – A common sort of Asian market, similar to the Asian handicap and Asian goal line. Depending on the amount of corners in this market, you it is possible that your wagers are refunded.
Asian Goal Line – In this bet, the total number of goals scored in a football match is predicted. The availability of half and quarter-goal markets is the primary distinction between this and the conventional over-and-under markets. For instance, in a market with an above 2.5 coefficient, you would win if you scored three goals or more and lose if you scored two or fewer.
Bookmakers – A popular name for sportsbooks and betting websites. The markets and odds are provided by the operator at which you have registered. If your placed bets are successful, that’s also where you will get your payout. Also known by the shortened term “bookies.”
Booking Points – Usually a football-based market. This kind of market is determined by the number of red and yellow cards given in a game.
Both Teams to Score – This market sees you win your bets if both teams score after 90 minutes. The outcome of the match has no meaning on this market.
Both Teams to Score and Win – A typical two-way wager. In this case, your bet would be successful if both teams scored and if the team you have backed won. It provides odds that are higher than what any market would provide on its own.
Bottle – Another UK term for odds of 2/1.
Back – This phrase, more commonly known as to bet or wager, simply indicates that you are placing a wager on a particular sport or event. By backing a horse, it means you have selected that particular horse to place your bet on. It’s also commonly used as slang, i.e “backing a team”.
Banker – A wager that is seen as having a strong winning chance.
Bar Price – This means the lowest odds offered to any racer who hasn’t had a price quotation during early betting shows.
Beard – An expression for the act of placing a bet to hide one’s identity on behalf of another.
Bet – A prediction of a result with a stake linked to its success or failure. In reputable betting, money is nearly always at risk.
Bet Slip – All of the data related to a wager that you make is kept in this location. All of your selections’ returns should be automatically calculated by this.
Best Odds Guaranteed – This implies that, even if the odds improve, you will still get the greatest deal from the moment you place your bet until the race begins. The best odds guaranteed are usually found in horse racing.
Bet Calculator – A handy tool for rapidly figuring out the returns on your wagers.
Bet Builder – A bookmaker’s tool which lets you create your wagers by combining a large number of different market combinations. Today, most sportsbooks offer this option.
Betting Exchange – An exchange for bettors allows you to wager against other users and choose your odds, as opposed to traditional operators where you wager against the bookmaker.
Betting Market – All bets are included under this term. Both individual bets and betting categories are referred to by it.
Betting Odds – An indication of the implied likelihood of a result, according to the bookmaker in question. They are also used to calculate bet returns and are also referred to as “prices.”
Betting Ring – The central region of a racetrack where the bookies are situated.
Betting Limits – The maximum or minimum amount you are allowed to gamble. This usually depends on the bookmaker’s terms and conditions.
Bismark – A lesser-known expression that is used to describe the situation in which the bookmaker believes the favourite will lose. To promote bets in the direction of the favourite in this particular scenario, you will frequently see large limits and substantial incentives.
Cash Back Bonus – This is a bonus that offers a money-back guarantee. This often happens as a part of a risk-free wager in which, should you lose, all or a portion of your deposit will be reimbursed.
Cash Bonus – A cash bonus is any bonus sum which is received as cash, as opposed to as a free bet. You can take this money out immediately.
Canadian – This is a form of system bet that is sometimes referred to as a Super Yankee. It consists of 26 wagers spread over five distinct events. It consists of five 4-folds, one 5-fold, ten trebles, and ten doubles.
Carpet – Another UK term for odds of 3/1.
Cryptocurrency Betting Sites – Any betting website that takes cryptocurrencies as payment and deposit options. The most popular are Bitcoin betting sites. Nonetheless, this can limit your capacity to take advantage of deals.
Correct Score Betting – A market where you win by predicting the correct score exactly. There’s no room for error, so the odds are usually long.
Corners Match Bet – This involves betting money on the team with the most corners. For multiples or if you choose not to support a winning club, this is a tremendously intriguing football market.
Cash Out – You can cash out before your selected event has finished. Additionally, automatic cashouts are available, in which your bet is paid out when the offer reaches a predetermined level, and partial cash outs, in which you only cash out a portion of your wager.
Chalk – An American way of referring to the favourite in any sport. It originated in horse racing, where it’s most likely to be heard or said in the UK.
Clean Sheet – A football team often keeps a clean sheet when they don’t give up any goals. On the majority of bookies, you may place a betting forecast on whether or not you believe that this will happen.
Deposit Methods – How money is added to your betting account so that you may place bets. Other crucial factors to take into account are fees and transaction delays. As an example: Debit cards, Credit cards, bank transfers, and e-wallets such as Skrill, Neteller, Boku, PayPal, Paysafecard or Bitcoin are popular ways to make deposits. Most are free of further costs and can be deposited immediately.
Decimal Odds – An odds structure that is widespread in European markets, although not quite as popular as fractional odds.
Double – A bet consisting of two separate picks. To be successful, the bet needs to be on both of them.
Draw No Bet – If you wager on a team to win under the draw no bet market regulations, you will get your money back if the match finishes in a tie. This does come at the expense of lower odds because it often limits the number of viable markets from three to two.
Double Chance – There are three possible outcomes in a three-way market: the home team winning, the away team winning, or a draw. You may choose two of these three options in a double chance bet, and you will win if one of the predictions comes true.
Dead Heat Bets – A dead heat arises when two or more horses in a horse racing event finish at the same time. If there is a dead heat and there are two winners, you will get half of your possible profits. This also applies to other athletic markets.
Drift – Whenever the cost of a choice grows (expands).
Dutching – In this case, you would use your wager on the second favourite to support your first choice. It’s frequently used in racing marketplaces due to its multi-participant nature.
Each Way Bets – An each-way bet, another popular phrase in horse racing, consists of two wagers: one is for the chosen horse to win, and the other is for the chosen horse to place. The definition of a “place” varies according to the event’s size; larger races may have up to five places. Another popular expression in golf is “each-way.”
Edge – A slang phrase meaning an advantage. When discussing how much the odds favour the bookmaker, for example, the term “bookmaker’s edge” is frequently used.
Esports – Any computarised sport or betting on video games, which is becoming a popular option for most major bookmakers (best eSports betting sites).
Enhanced Odds – One of our most well-liked bonus types. If a bookmaker offers better odds (i.e., a higher return) on a few markets, those are called enhanced odds. Certain markets allow you to select which ones have better chances.
European Handicaps – Another sort of handicap betting, similar in idea to Asian betting.
Exposure – This is used to describe the possible loss of money for a bookmaker on an occasion. Although it might not seem very important to you, this could result in smaller betting limits.
Expected Goals – A statistic that evaluates the likelihood of a goal from a shot depending on a number of variables, including past performance.
E-wallet – A deposit option that allows you to easily deposit and withdraw online into virtual wallets. For quick withdrawals, they are quite helpful.
Favourite – The option with the lowest odds is the one thought to have the best chance of winning an event.
Fees – A fee is an amount you will be charged. When discussing betting, it generally relates to bank costs, such as a transaction fee for making a withdrawal using a certain payment method. These are usually rare.
Fixed Odds – These are the odds that are currently offered by a bookmaker. It implies that, even if they change as the event approaches, you are locked in at that price.
First Corner – A market where you stake on which team will get the first corner. This is an excellent choice for adding intrigue to the first few minutes of a football game.
First Half Bet – A bet put entirely on the first half of an event.
Form – The recent performances of a team, player, horse, or whatever is significant for that specific sport. It’s usually calculated via statistical data from recent events.
Fold – An indicator of the size of an accumulator. For instance, 5-fold means 5 selections.
Forecast Betting – A stake in which a bettor must accurately guess the winners and runners-up of a certain event. It’s most often seen and used in dog or horse racing.
Fractional Odds – These are the most common sort of odds, accessible on all European betting sites. If fractional odds are more convenient for you to deal with, you may switch to them on many websites if they aren’t already available.
Free Bet – One of the most loved by bettors type of bonus is a free bets. Essentially, it’s any bet which you can place without needing to place your own stakes. It’s quite possible that the earnings you receive won’t cover the bet and will be subject to extra conditions, including wagering restrictions.
Full-Time Result – Complete Time Result (1X2), which is typically used in team sports, lets you predict who will win or if it will result in a draw after the full time. It is the type of athletic market that is most in demand.
Futures – A futures bet is a wager on the result of an event that has many stages, like a season or a competition. Futures can relate to club and player markets, such as predicting a team’s division, number of points in the league, how likely they are to win a championship, or a player’s league MVP or Rookie of the Year award.
Goalscorer – The markets for goalscorers are diverse. A few of them include Anytime Goalscorer, where you stake on a player to score at any moment throughout the game, and First Goalscorer, where you stake on who will score first. First Team to Score lets you predict which team will score first to win the game outright and gives you more options.
Goliath – A bet type with 247 bets totalling 8 picks across various events. This stake consists of an accumulator, 70 4-folds, 56 5-folds, 28 6-folds, 8 7-folds, 56 trebles, and 28 doubles. To receive a refund, at least two of your choices must be accepted.
Half Time Result – Select who you believe will be the winner (or if you think the result will be a tie) at the end of the first half.
Half Time Full Time – In order to win this bet, you must accurately predict both the halftime and final scores. For both to succeed, both must be accurate.
Half Time Score – A market where you need to properly predict the precise score at the end of the first half to end up with a profitable bet.
Half With Most Goals – Here, you’ll bet on which half of the game will result in the most goals, as opposed to picking a team.
Hedging – Placing many bets to limit your chance of losing.
Heinz – A system bet involves 57 bets involving 6 selections in distinct events. 20 trebles, 15 4-folds, 6 5-folds, and 1 6-fold are all included in the bet.
IBAS – In the event that there is no other method to settle a disagreement between you and the bookmaker, this stands short for the Independent Betting Adjudication Service.
Implied Probability – The bookmaker’s estimate of the prediction’s likelihood of success is called the implied probability. An example would be if 100/1 had an implied probability of 1%, indicating that the operator believes there is very little possibility that the event would occur.
Joint-Favourites – A favourite is a team or competitor that is considered as most likely to win. The joint favourite is where there are two who seem equally likely to win.
Lay – You will most often find this common betting term on betting exchanges. Placed bets are bets against the outcome of another player.
Lengthen – Extended odds indicate a rise in probability. By greater, we mean that as the odds become longer, you will receive higher profits, compared to shorter odds.
Live Betting – Any type of in-play betting on live events that takes place. Since the relevant event is in real-time, live betting odds frequently change based on the dynamic.
Live Streaming – Live-streams allow you to see the event you’re betting on as it unfolds. In certain cases, using a live stream will be contingent upon having placed a bet.
Long – Shot – An expression used to describe a choice that is very unlikely to win.
Loyalty Programmes – A loyalty program is any form of promotion that gives points for frequent usage of the website. They could also be referred to as VIP programs.
Lucky 15 – A bet made up of 15 bets on 4 choices in different events. There are 4 singles, 6 doubles, 4 trebles, and 1 4-fold in the bet.
Lucky 31 – A bet consisting of 31 bets comprising 5 picks in events. Ten doubles, ten trebles, five 4-folds, and one 5-fold are all included in the bet.
Lucky 63 – A betconsisting of 63 bets involving 6 selections in events. There are six singles, fifteen doubles, twenty trebles, fifteen 4-folds, six 5-folds, and one 6-fold in the bet.
Max Bet – This is the maximum sum that bettors are allowed to take out of a betting site all at once. There is a maximum payout for every betting website.
Min Bet – This is the minimum amount you may betwith the bookmaker. Depending on the activity or occasion, it may vary.
Mobile Betting – Whether it’s through an app or just a mobile desktop version of the website, any bets done on a mobile device qualifies as mobile betting (best mobile betting sites).
Mobile Bonus – Though most promos are accessible on both desktop and mobile devices, bookies occasionally make an effort to promote mobile betting by offering deals, depending on the sport, that are solely available to mobile bettors.
Money Line – An American expression for staking on the full-time result. The plus and minus “lines” on American Odds are the basis for its name.
Monkey – British slang referring to £500.
Multi-Goal Betting – You may choose from a variety of potential end goal totals when you bet this way. For instance, you may bet on a football game with a 2-4 goal market. Your stake is successful if the total number of goals is within this range; it is unsuccessful if it is less than two or greater than four.
No Deposit Free Bet – This is a free bet that is often awarded after registration; you may obtain it without ever needing to make a deposit. As per the terms and conditions, keep in mind that you will most likely need to make a deposit in order to withdraw your wins.
Non-Runner – This phrase refers to when a horse or greyhound is unable to run. Refunds are something that reputable bookies ought to offer you if you have bet on a non-runner.
Odds – The bookie’s estimate of the likelihood that market will succeed. It also reflects what you should anticipate in terms of return.
Odds-Against – When a pick has odds bigger than even money (e.g. 5/2).
Oddsmaker – This individual or people are responsible for setting the odds. But remember that this isn’t just a single person’s perspective; it’s frequently dependent on betting trends and competition.
Odds-On – When a selection’s odds (such as 4/5) or when the cashout sums are less than even money.
On The Nose – In racing, a phrase meaning to lay a bet solely on “To Win” and not on any other options.
Outlay – Another term for the stake, referring to the amount of money invested on that particular bet.
Outright – Stakes put on the winner of the whole tournament and contests. Get the greatest odds by placing outright bets well in advance of the tournament.
Outsider – Another way to say “long shot” It is, once more, seen as an extremely improbable selection to win.
Over/Under – Any market in which determining whether the quantity of an instance will exceed or fall short of a specific threshold is the aim. Goals, cards, and corners are typical over/under instances.
Overround – A term for the built-in profit margin that a bookie has on any given betting market. Overround is the amount above 100% for all markets; the lesser the overround, the better.
Own Goal – An own goal occurs when a team in football unintentionally scores against their own squad. This is a reasonably prevalent betting market since it happens more often than you may think.
Parlay – An accumulator by another name. Each of these are single bets that require many right picks in order to win.
Patent – A bet consisting of 7 bets involving 3 selections in several events. There is one treble, three doubles, and a single on each option in the wager.
Payout – The amount that you win if your stake is successful. This covers the bet as well as the profits.
Permutations – This is any form of system bet where you have to cover the markets strategically by placing a number of bets in a certain sequence and combination. Examples are Goliath bets and Lucky 15s.
Pool – This involves betting where you put a set amount of money into a pool and then split it evenly among all the players who correctly guess. It’s an extremely unusual kind of betting because there are no odds involved.
Price – Another term for betting odds.
Promotions – A promotional offer from the operator that gives the user a bonus, usually when they meet certain requirements. Many different bookies often provide an enormous variety of betting offers. Free bets, welcome bonuses, acca insurance, improved odds, matched deposit bonus, no deposit bonus, cashback bonus, reload offers and Best Odds Guaranteed are a few examples of promotions.
Promo Code – A code that you have to input, usually upon registering, in order to choose to participate in a certain promotion. You can lose out on the deal in question if you don’t enter the promo code.
Punter – An alternative term for a user who bets on that website.
Place betting – This is a commonly used bet type on races where your horse doesn’t need to win, as it can finish in the top three for you to win the bet. In major races, there are up to five spots available, and this is an excellent market to combine with others.
Placepot – A bet type in which selecting a placed horse from the first six races of a meeting is mandatory.
Pony – British slang for £25.
Racing Card – This is where all the race-related data for that day is kept. Alongside the markets, online sports bet sites typically provide their own version of these cards.
Return – An alternative expression for your earnings or wins. The sum of money that you receive in the event that you win.
Request a bet – Many bookies these days let you request a wager via social media if it’s not included on the website. They will give you the odds if they accept, which you may then determine whether or not to accept.
Referral Bonus – A referral bonus can be any type of bonus reward or payment you receive in exchange for referring others to a betting website. The specifics are largely up to the sportsbook, although it would usually be a free bet or possibly a cash incentive.
Round Robin – This is where you mix a series of accumulator bets. Usually, there are several smaller accas rather than a single large one. a delightful blend of system and parlay betting.
Runner – A participant in a competition, usually in dog and horse races.
Rule 4 – This is a standard operating procedure for bookies in racing sports. Rule 4 states that awards will be reduced to account for any competitors who choose not to finish the race.
Scorecast – Predicting both the ultimate score and the goal scorer is the purpose of the scorecast bet, one of the most common types of double bets.
Stake – The amount you are wagering on that specific option is also referred to by this phrase. Saying “the stakes are high” implies that you have placed a significant wager, for example.
Super Heinz – This is not your average Heinz wager, as the name would imply. Seven choices and 120 bets make up the Super Heinz. 21 doubles, 35 trebles, 35 fourfold bets, 21 fivefold bets, 7 sixfold bets, and 1 sevenfold bet make up this breakdown.
Spread Betting – The most popular type of betting is a point spread bet. In contrast to the money line, which simply places your wager on a team to win or lose, the point spread designates one team as the favourite and one as the underdog. In order to level the playing field, the point spread deducts a certain number of points from the favourite’s total.
Special Bets – Any wager that is not included in the standard betting lineup is referred to by this general phrase. For example, it may have to do with how a fight ends in an MMA market.
System Bets – This is a collection of betting recommendations designed to efficiently cover as many markets as possible.
Terms And Conditions – A web page that specifies the guidelines for that specific topic, offer, or the website overall. All bettors should carefully read these.
The Gambler’s Fallacy – The mistaken belief that something is less likely or more likely to happen based on past results.
Tic-Tac – The means of communication used by bookmakers in the UK to exchange messages while racing.
Timecast Betting – When you place a wager on a timecast, you can discover some very accurate and perhaps lengthy odds markets. You can also place a wager on the goal scorer.
Tote – The UK company founded to offer pool betting at all racetracks. It now has its own website, having previously been owned by Betfred.
To Win To Nil – A bet made on a team to win while avoiding a goal loss.
To Score In Both Halves Tips – A bet on which team will score more goals in the first and second halves.
To Win Either Half – A bet on one of the teams to win one or both halves of the game
To Win Both Halves – A bet placed on a team to win the opening and second halves.
To Win From Behind – A wager put on a team to win after trailing by at least a goal at any time.
Treble – A bet consisting of 3 selections. All must win for the bet to be successful.
Tricast – A bet which involves correctly predicting the 1st, 2nd and 3rd place in a racing event.
Trixie – A bet consisting of 4 selections involving 3 selections in separate events. The bet includes 3 doubles and 1 treble.
UK Gambling Commission – The primary governing organisation for all casinos and sportsbooks in the United Kingdom is the UK Gambling Commission. In order to determine whether an operator is reputable, UK gamers should search for these licensed sportsbooks.
Value Bet – A word for a wager in which you believe you have the advantage over the bookmaker. Value bets on situations where you think they have significantly miscalculated the game probability are the most popular.
VAR – This refers to the Video Assistant Referee. A video assistant referee, or VAR, is a match official who has access to all of the stadium cameras and evaluates judgments made by match referees. Replays in slow motion can be one of them, enabling the VAR to view the play from every perspective.
Vig – This is an American term for overround. It can also refer to any fees charged.
Virtual Sports – This is a digital recreation of prominent sports, like tennis or Formula One racing. Just as with its conventional, real-life counterparts, you may bet on these virtual sports, including the winner of the game, or which team will lose.
Wagering Requirement – An essential component of every promotion’s guidelines. The quantity of playthrough required on the bonus in order to receive payment for any winnings from a free bet is known as the wagering requirement.
For instance, to withdraw any gains from a £5 free bet with a 5x wagering requirement, you would need to place a £25 wager.
Welcome Offer – This generally refers to any type of promotion that is exclusive to new players. It’s frequently the place to locate the biggest and best promotions.
Wincast Betting – Kind of like a scorecast bet, except a little simpler. In a wincast wager, you support a side to win rather than the precise score and select an anytime goalscorer.
Winning Margin – This is the margin by which one team triumphs over another.
Withdrawals – The procedure via which funds are removed from an online betting account. Whatever method you choose to use for this, you must use the same one for both deposits and withdrawals (where applicable) at numerous bookies. In comparison to deposits, withdrawals sometimes take much longer and may incur costs.
Yankee – A bet consisting of 11 bets involving 4 selections in separate events. The bet includes 6 doubles, 4 trebles and 1 4-fold.
MrBetting’s Overview on Betting Terms
We advise contacting customer care if you have any questions since, when it comes to betting, information truly is power. You can place better wagers the more betting terminologies you are familiar with. And that applies not only to form or teams, but also to the actual betting process itself.
Mastering the lingo used in betting is the best approach to raise your betting IQ. It truly does open your eyes to the breadth and depth of the betting industry, and with that knowledge, you’ll have more resources at your disposal and more chances to find and capitalize on the markets that suit your needs.