Betting Terms and Definitions (A-Z) – March 2025 Curriculum

Back – Known as to wager or bet, this terminology implies you're betting on a particular outcome. For instance, a 'backed' horse has a wager put on it.

Banker – A gamble believed to likely win. But remember, nothing is ever certain.

Bar Price – The lowest odds set on a betting line for any contenders not priced during initial showings.

Beard – An intriguing term when someone places bets for someone else to hide their identity.

Bet – An anticipation of what might occur, paired with a stake based on its possible outcome. Usually, this stake is monetary.

Bet Slip – A record where all your bet details reside, automatically computing returns from all selections.

Best Odds Guaranteed – This ensures you receive the highest odds from when your bet is placed until the race kicks off, even if they improve. Typically linked with horse racing.

Bet Calculator – A convenient tool allowing quick calculation of bet returns and potentially converting odd types to perceived probabilities.

Bet Builder – Yet another bookmaker-provided tool enabling you to tailor your bets using many market combinations. Now standard among leading operators.

Betting Exchange – A departure from routine methods, a betting exchange lets you wager against others, with odds established by fellow user bets.
Example: Betfair Exchange, Matchbook, and Smarkets represent betting exchanges.

Betting Market – Denotes any and all forms of bets, often used interchangeably to describe individual wagers or betting groups.
Example: 'The Over/Under betting markets' or 'Ronaldo is favored in first goal scorer markets'.

Betting Odds – Reflects the implied outcome probability as judged by the bookmaker, known as 'prices', also employed to measure betting returns.

Betting Ring – The active site at a racetrack where bookmakers carry out their operations, applying to both horse and greyhound racing.

Betting Limits – Defines the maximum and minimum wagerable amounts, usually at the bookmaker's discretion.

Bismarck – A rarely heard term for when bookmakers don't expect the favorite to win, often accompanied by generous promotions.

Bookmakers – The entity against whom your bets are made, offering market and odds selection. They pay out your winnings when successful, often called 'bookies'.
Example: bet365, William Hill, and Ladbrokes serve as bookmakers.

Booking Points – A betting method reliant on cards shown in a game, typically football-based.
Example: Sky scores 10 points per yellow card and 25 for a red. Thus, a +30 booking points market could be clinched with one card of each color.

Both Teams to Score – Your wager wins if both teams manage to score within the regulation 90 minutes, irrelevant of the game's winner.

Both Teams To Score & Win – A popular double wager requiring both teams to score and the team you've bet on to win for successful payout, proposing better odds than separate markets.

Bottle – UK slang for odds of 2/1.

Cash Back Bonus – Any deal allowing a refund, typically part of risk-reducing bets where your full or partial stake is returned if lost.

Cash Bonus – A bonus issued as cash, contrasting with free bets where these funds are readily withdrawable.

Canadian – Sometimes referred to as a Super Yankee, comprising 26 bets across five events: 10 doubles, 10 trebles, 5 fourfolds, and one fivefold.

Carpet – UK slang for odds of 3/1.

Cryptocurrency Betting Sites – Betting platforms accepting cryptocurrency for financial transactions. Bitcoin betting sites are widespread, though they may limit promotional engagement.

Correct Score Betting – A bet on what the accurate scoreline will be, lower chance of mistakes means usually longer odds.

Corners Match Bet – Predicts which team gains the most corners, captivating for football multiples or when not backing a team to win.

Cash Out – A real-time option letting you forego a bet before an event ends. Partial cashouts reclaim a percentage, while auto-cashouts trigger when a certain value is reached.

Chalk – US-based lingo for a sports event favorite, rooted in horse racing.

Clean Sheet – Football terminology when a team allows no goals, bettable at most bookmakers.

Deposit methods – The method for adding money to your betting account, taking transaction times and fees into account.
Examples: Banking transfers, debit cards, and e-wallets rank among the most used deposit approaches, typically instant and fee-free.

Decimal Odds – An odds format that's pretty common in European betting circles, although fractional odds still hold sway.
Example: 1.2 carries an 83.3% implied probability, an alternate method expressing the same odds as the American example above.

Double – A dual selection bet; both selections need to be correct for a successful outcome.

Draw No Bet – In 'draw no bet' market rules, if the game reaches a draw, your stake is given back. Since this limits market outcomes typically from three down to two, expect reduced odds.

Double Chance – In a tri-market, you can opt for the home team, the away side victory, or a draw. A double chance lets you pick any two outcomes, winning if either happens.

Dead Heat Betting – When an event finishes with two or more exactly level competitors, it's a dead heat. It can occur elsewhere, and two winners would divide potential earnings in half.

Drift – When a wager's price increases.
Example: The horse's odds increased as the race progressed.

Dutching – This involves securing if the first choice and the second choice win. With several contenders, it’s often useful in race settings.

Each-Way — In the realm of horse racing, there's a wagering approach called an each-way bet. This isn't just a single gamble but rather a combination of two: one part where you place your hopes on a win, and another where you’re betting on the racer to make it to the top ranks. The idea of placing varies based on how prestigious the race is, sometimes rewarding up to five runners in larger events. Interestingly, you’ll find this strategy quite popular in the world of golf too.

Edge – This term is all about getting that upper hand. Essentially, when people talk about the bookmaker’s edge, they’re referring to how much the odds are skewed in their favor. There's more to explore with similar terms like the concept of 'overround'.

Esports — Welcome to the world of esports, where video games have transformed into serious competitive sports, capturing the interest of the largest betting platforms worldwide.
Examples: Ever heard of Counter-Strike, Dota 2, or League of Legends? These giants aren't just popular; they're some of the biggest money makers in esports globally.

Enhanced Odds Meaning — Let's talk promotions. Enhanced odds are a delightful surprise from bookmakers; they mean you could get more bang for your buck on chosen wagers. Sometimes, you're even in the driver's seat to decide which markets get this special treatment.

European Handicap — Imagine a version of betting that sits alongside the Asian handicap. European handicapping introduces the prospect of a draw, offering a distinct twist.

Exposure – This is all about the financial risk a bookmaker takes during an event. It might seem distant from your own betting experience, but it can influence the upper caps on bets you’re allowed to make.

Expected Goals meaning — Meet the metrics marvel! Expected Goals, known as xG, is the calculator of likelihood in football—a scientific guess on whether a shot turns into a goal, underpinned by historical insights.

E-wallet – The speed demon in the world of online payments, e-wallets are the go-to for both depositing and cashing out quickly. Especially handy when you're waiting on those fast payouts!
Examples: When it comes to e-wallets, heavyweights like PayPal, NETELLER, and Skrill lead the charge in popular choices.

Favourite (Fav) – Also affectionately termed the 'jolly'. This is your go-to choice for the one most tipped to triumph in a match, often reflected by the shortest odds.

Fees – Normally, fees are the little extras you pay, and in the betting bubble, these often relate to banking operations, like getting charged for withdrawing funds with certain methods.

Fixed Odds – This term signifies the odds locked in at the time of your bet placement. No matter what twists and turns happen as game day approaches, your odds are set in stone.

First Corner – Fancy sprucing up the early minutes of a football game? The first corner market lets you wager on which team will kick things off with a corner.

First Half Bet – When you invest in just the opening half of a game, your wager is squarely on the initial timeframe, across varied market choices. More about these in our 'H' category.

Form – Whether it’s teams, players, or horses, gauging their form involves delving into recent performance stats to paint a picture of their current prowess.
Example: 'Bagging three straight victories, Arsenal’s streak screams stellar form.'

Fold – This term describes the number of selections in an accumulator bet. So, a 5-fold would signify wagering on five different outcomes.

Forecast Betting — Fancy a challenge? Try forecasting both the winner and the runner-up in events like horse or greyhound races. A staple of keen punters everywhere.

Fractional Odds – Hugely favored across most European betting platforms, fractional odds express probabilities in a ratio form. Easily switched to, should they simplify your betting game.
Example: Odds marked as 1/5 equate to a probability of 1.2 in decimal and -500 in American terms, clocking in at 83.3%. Just different ways of seeing the same picture.

Free Bet – This is a risk-free spin of the wheel where no initial stake from you is necessary. Do anticipate that winnings might come with some strings, like wagering conditions.
Example: Coral’s tempting offer - stake £5 and snag £25 in free bets.
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Full-Time Result — Known as the 1X2 market, full-time result betting lets you decide the winner or predict a draw by the end of the game. It remains the most loved betting market in team sports.

GamCare — Within the UK, this organization is a lifeline for those grappling with gambling issues, with their contact details readily flagged on many betting platform guidelines.

Goalscorer – In football betting, goalscorer markets let you make myriad predictions. From who scores first, or anytime within the game, to which team breaks the deadlock. Anytime Goalscorer — Imagine a gargantuan bet split into 247 pieces. Involving 8 selections across various events, it calls for at least two successes to yield returns, showcasing a fascinating combination play.

Goliath — For those glued to the first half's outcome in a match, this market focuses only on who’s leading at halftime, detached from what transpires later.

Half Time Result — In this intriguing bet, you predict outcomes twice: both at halftime and after the final whistle. Accuracy in both fronts equals victory.

Half Time Full Time Half Time Score – A market for precision bettors, where getting the exact halftime score right can turn predictions into profit.

— Shift the focus away from team allegiance: here’s a chance to wager on whether the first or second half will see more goals, taking team loyalty out of the equation.

Half With Most Goals — This strategy involves spreading multiple bets to reduce potential losses, a concept so universal it's made its way beyond the betting world’s borders.

Hedging — Say hello to a collection of 57 bets involving 6 selections in different events, forming a web of doubles, trebles, and other combinations.

Heinz — Standing for the Independent Betting Adjudication Service, this body steps in to mediate when disputes between bettors and bookmakers reach an impasse.

IBAS — Remember the odds talk: implied probability is where the bookmakers lay their cards on the table regarding the likelihood of an event occurring.

Implied Probability Example: Odds of 100/1 equate to a slim 1% chance, indicating the bookmaker sees it as a long shot.
Joint-Favourites – When two competitors are equally anticipated to seize the victory, that's where you find the joint-favourites' category.

Jolly – Slang for the odds-on favorite, the jolly is your go-to for a low-odds, high-confidence choice to win.

Lay – Often seen in betting exchanges, laying a bet means you’re wagering against a certain outcome, banking on it not happening rather than it succeeding.

Lengthen – When odds get longer, they’re growing, meaning the payout potential is climbing if the bet comes through.

— Welcome to the nail-biting zone of live betting, where odds shuffle and change as events take place, letting you bet in the heat of the moment.

Live Betting — Many online platforms enhance the betting experience by streaming live events, sometimes requiring a placed bet to unlock the watch feature.

Live Streaming Long-Shot – This isn't just a gamble; it’s a high-risk pick on something deemed unlikely to win, referred to as an outsider in some circles.

— Designed to keep you loyal, these reward programs, occasionally branded as VIP clubs, give back to punters who consistently use a betting site.

Loyalty Programme — A betting puzzle, involving 15 interconnected bets across 4 selections. Includes a medley of singles, doubles, trebles, and one 4-fold.

Lucky 15 — Explore a betting venture with 31 bets featuring 5 selections in different matches, crafting a web of various bet types including a 5-fold.

Lucky 31 — Dive into the labyrinth of 63 bets linked by 6 distinctive picks, harmonizing complex singles to an almighty 6-fold.

Lucky 63 — This limit caps the largest lump sum you can cash out from your winnings in one fell swoop on any given platform.

Maximum Bet — Setting the low bar for bets, this is the minimum figure bookmakers demand for you to engage in any given wager.

Minimum Bet — Betting has gone portable, with apps letting you carry the bookmaker in your pocket, whether through tailored apps or mobile-optimized sites.

Mobile App Mobile Betting – Simply put, any wager you make through your mobile device falls under the realm of mobile betting, be it an app or a browser.

Mobile Bonus – While promos mostly span platforms, some bookmakers sprinkle incentives solely for the mobile punters, weaving a unique bonus charm.

Money Line – While succinctly capturing a full-time bet result, this American-originated term delves deeper into the betting lingo via + and - lines.

Monkey – In British betting slang, a 'monkey' isn't about fauna but rather denotes a sum of £500.

— Take a swing at predicting various possible total goals in an event, embracing the challenge of aligning your guess with the actual tally.

Multi-Goal Betting Example: Opting for a 2-4 range in a football clash means you’re in with a win if the goals land within this buffer; anything more or less, and it’s curtains.
Nap – The tipster's gem, this vote of confidence marks their strongest bet of the day. But take it with a pinch of salt; it isn't always sage wisdom.

— This is a little gem, a no-deposit free bet just waiting for your registration. Though beware, claiming actual winnings might mean jumping through a few hoops like making a small deposit.

No Deposit Free Bet Non-Runner – Quite literally—not in the race at all. This term surfaces when your pick, be it a racehorse or greyhound, sits out any given event. Luckily, most reputable bookmakers typically offer a refund in these cases.

– An each-way bet is a engaging betting term frequently used in horse racing as well as in golf. Essentially, it consists of two separate wagers: the first anticipates your choice to come in first, while the second wager presumes your selection finishes among the top places, which can vary based on the event's size, with larger races offering up to five places. Non-Runner No Bet

Odds Edge – This term describes the advantage someone may hold. Typically, a bookmaker's edge refers to their favorable position regarding odds, offering them a profitable margin also known as the 'overround'.

– Esports has emerged as a significant branch in the world of sports betting, utilizing video games as its core medium, and is now extensively featured in the offerings of many mainstream bookmakers.

Examples: Some of the most popular and lucrative esports include Counter-Strike, Dota 2, and League of Legends, drawing massive global audiences.

– Enhanced odds promotions are one of our top picks, where bookmakers increase the odds on selected markets, allowing higher returns. Sometimes, you even get to choose which markets get boosted.

– European handicap betting slightly differs from the Asian version by including the possibility of a draw, adding an additional layer to the betting options.

Exposure – This term relates to the potential financial loss a bookmaker faces on an event. While it might seem distant to your interests, it can influence betting limits imposed by the bookmaker, affecting your choices.

Outright – A sophisticated metric that evaluates the likelihood of a shot resulting in a goal, based on historical and contextual factors.

E-wallet – An essential tool for bettors, allowing swift online deposit and withdrawal of funds; notably beneficial for quick transactions.

Over/Under Examples: Popular e-wallets include PayPal, NETELLER, and Skrill, facilitating smooth monetary exchanges.
Favourite (Fav) – Often referred to as the ‘jolly’, this represents the option deemed most probable to win, hence carrying the lowest odds.
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Overround Fees – Within the betting scene, fees usually pertain to banking charges, such as those incurred during withdrawals with certain payment methods.

Own Goal Fixed Odds – Representing the odds locked in at the moment of placement, meaning the initial price stands even if subsequent shifts occur closer to the event.

First Corner – A betting market where you predict which team will earn the first corner, adding excitement to the outset of a football match.

Patent First Half Bet – An entire betting market dedicated to the first half of a game, where you can explore various wagers specific to this portion of the event.

Form – A reflection of recent performance, whether it pertains to a team, player, horse, or relevant sport, drawing from statistical results of recent engagements.

Example: Let's take Arsenal for instance, they have shown outstanding form with three consecutive victories.

Pool Fold – This signifies the number of selections in an accumulator, like a 5-fold means you are betting with five selections.

– This intriguing bet requires you to accurately nail the first and second positions in an event, commonly appearing in horse and greyhound racing.

Promotions Fractional Odds – Predominantly featured on European betting platforms, these odds are widely preferred. Even if not immediately showcased, most platforms offer a choice to switch them to fractional odds for ease.
Example: Consider fractional odds of 1/5; they share the probability with 1.2 decimal odds and -500 American odds, all reflecting approximately 83.3% likelihood.

Promo Code Free Bet – A type of bet allowing you to place a wager without using your funds. Be mindful, though; winnings usually exclude the stake itself and come with additional stipulations like wagering needs.

Example: Coral proposes a promotional offer of 'Bet £5 Get £25 In Free Bets'.

– Widely used in team sports betting, Full Time Result bets (or 1X2) enable you to predict the outcome at the final whistle, or whether it'll conclude as a draw, dominating the landscape of sports markets.

Placepot – The leading organization supporting problem gamblers throughout Great Britain, with their ample contact details easily accessible within responsible gaming sections across many betting sites.

Pony – British slang for £25.

Goalscorer – Diverse markets are available for goalscorers. Options include First Goalscorer, requiring you to predict the player scoring first,

, as well as betting on a player to score at any point, or which team gets the first goal, and other options.

Request a bet – Known for its complexity, this wager involves 247 separate bets across 8 selections in different events and requires at least two successful outcomes for a return.

– A bet made on outcomes by the end of the first half, uninfluenced by what may occur later in the event.

Round Robin – Here, you aim to predict correctly both the halftime and fulltime results to win, demanding accuracy for a successful outcome.

Half Time Score – Predicting the exact score at the half-time mark serves as the essence of this market, targeting a precise forecast for a winning bet.

Rule 4 – Shying away from team dedication, this market invites you to guess which half will boast the most goals, offering an engaging way to approach game dynamics.

Scorecast – The practice of placing multiple bets to mitigate the chance of loss, 'hedging your bets' is widely adopted even beyond gambling circles.

– You have 57 bets spanning 6 selections in various events, inclusive of combinations like 15 doubles, 20 trebles, and others.

Super Heinz – Known as the Independent Betting Adjudication Service, they mediate disputes between bettors and bookmakers when no resolution seems available otherwise.

Spread Betting – Discussed in the context of odds, implied probability expresses how likely the bookmaker considers a particular outcome to occur.
Example: Odds of 100/1 carry an implied probability of 1%, signaling an event having very slim chances according to the operator.

Joint-Favourites – When two competitors are equally considered likely to win, they are labeled as joint-favorites.

System Bets Jolly – Often used as informal slang for 'favourite', indicating that choice anticipated as most likely to win, thus attracting lesser odds.

Lay – Predominantly surfaced on betting exchanges, 'laying a bet' means wagering against an outcome occurring.

The Gambler's Fallacy Lengthen – When odds are lengthened, it implies larger odds, thus offering higher returns if successful results materialize.

– Placing bets in real time as events unfold is the core of live betting, with odds dynamically adjusted based on the ongoing sports action.

Timecast Betting – Online platforms facilitate live-streaming, allowing users to watch events they bet on, albeit sometimes requiring an initial wager to access these streams.

Long-Shot – Signifying a pick with very low probability of success, it can also be termed as an 'outsider'.

To Win To Nil – Promotions built to reward steadfast users with long-term benefits are identified as loyalty programmes, akin to VIP schemes.

To Score In Both Halves Tips – Known as a Lucky 15 in betting language, it involves 15 different bets across 4 selections, containing a variety like singles, doubles, treble, and a 4-fold.

To Win Either Half – Deemed as Lucky 31, this betting term includes 31 bets spread over 5 selections, offering a mix of singles, doubles, trebles, and more.

To Win Both Halves – Encompassing 63 bets across 6 selections is known as Lucky 63, entailing a combination of singles, doubles, trebles, and larger folds.

To Win From Behind – Betting sites implement a cap, establishing the maximum sum a bettor can withdraw in a single attempt.

Treble – The baseline wager amount allowed by bookmakers, though it may vary distinctively depending on particular sports or events.

Tricast – Intended for mobile usage, such applications provided by betting operators enhance the gambling experience by maximizing mobile compatibility.

Trixie Mobile Betting – Betting conducted through mobile devices, whether through dedicated apps or adaptive mobile sites, forms the crux of mobile betting.

UK Gambling Commission Mobile Bonus – Occasionally, bookmakers introduce mobile-exclusive promotions to stimulate betting activity on mobile platforms and reward users utilizing mobile methods.

Value Bet Money Line – Used primarily in America, Money Line corresponds to Full-Time Result bets, associated with the plus and minus lines reflecting American Odds.

VAR Monkey – A colloquial British term referring to £500.

– In this betting approach, you select a potential range for the final goals total.

Virtual Sports Example: Betting on a 2-4 goals scenario in a football match, if the actual total falls within this bracket, you win; otherwise, you don't.

Nap – Describes a tipster's top pick or strongest bet of the day, although one should approach these recommendations with discernment.
– A no-obligation free bet available upon registration, typically requiring a deposit to withdraw any resulting winnings under the terms provided.

Non-Runner – Quite self-explanatory, this term applies when a horse or greyhound fails to compete as scheduled, commonly leading to a refund from reputable bookmakers. Learn more:

Wincast Betting – Horse racing and golf often share terminology. An each-way bet, for instance, is like making two separate wagers on the same pick: one for the win and another just for placing, which varies depending upon how many competitors the event has. Larger tournaments might see placements extend to the top five.

Winning Margin Edge – Often thrown around in betting circles, this slang describes a competitive advantage. The 'edge' could apply to a bookmaker's favorability in odds due to overround—an essential insight for those diving into odds analysis.
– If you see video games in sportsbooks, that's esports—a growing phenomenon. It's become a staple offering at most well-known bookmakers, making it possible to bet on tournaments of your favorite competitive video games.

Withdrawals Examples: Titles like Counter-Strike, Dota 2, and League of Legends dominate the esports landscape, offering some of the biggest prize pools globally.

Yankee – One of the standout promotions in our roster. Enhanced odds mean that the bookmaker has upped the payout on specific bets, giving you better returns. Occasionally, you can even pick the market you wish to be enhanced.