Sports Betting Glossary

A.

Added game: This would be an additional game not part of the regular rotation in a betting format. The online bookmaker will usually offer more odds after a specific request made by a bettor.

AET: An abbreviation found in the game of soccer. This refers to the extra time played if a game ends in a tie. A nice-to-know for anyone following Russia 2018.

Alternate lines: this is an important one, as it is commonly used. The odds here are constantly changing. These are variations on standard bets. Examples of alternate lines include alternate handicaps and alternate totals.

Ante-post: An early run-down of the market offered in advance. Meaning: before the usual list of participants.

Arbitrage (abbr. Arb): this is when a bettor places a bet on all selections within a specific market, across several bookmakers. Arbitrage exploits price variances and guarantees a positive return. A profit isn’t always guaranteed, but the odds are certainly more in the bettor’s favour.

B.

Banker: this refers to a strongly favoured bet. Multiple bets are often played on a banker.

Bet: to bet is to risk real money on an uncertain outcome. The expected return is based on the perceived likelihood of a specific outcome based on certain odds.

Bonus: an incentive offered by bookmakers to motivate existing and new bettors to place a higher bet / place a bet.

C.

Closing odds: these are the last available odds offered before a specific market closes. Bettors constantly beating the closing odds are considered pro-bettors and have a keen sense of timing and of how the market operates.

Correct score: again, soccer. This bet is when a bettor successfully predicts both who the winning team will be as well as the precise correct score.

D.

Dog: Short for Underdog. The least likely team / player to win a match / game.

Draw: when a match ends with no winner or loser.

E.

Even Money: when the exact bet that was placed is returned to the bettor. In other words, no profit was made.

Exotic Bet: any special bet. In other words, a bet other than a straight or multiple bet.

F.

First Half Bet: a bet that is placed on the most likely outcome of the first half of a game only. The final score becomes irrelevant.

H.

Handicap: a handicap is set by the bookmaker to provide more balanced odds. This is achieved by determining a numerical value to counter the perceived bias present in opponents.

I.

In-Play Betting: this is a bet that is placed when a game / match is already underway.

J.

Jolly: this is UK slang for a favourite.

L.

Lay-Off: this is when an individual bettor places a bet on both sides of a market in order to reduce the chances of losing.

M.

Margin: a bookmaker will determine what the perceived cost of placing a certain bet is. This is referred to as a margin.

Money-line: a bet that is placed on the final outcome of a game.

N.

No Action: a bet that is, for whatever reason, cancelled. No wins, no losses.

O.

Odds: this is, in effect, what betting is all about. Odds are the perceived likelihood of a pre-determined outcome possibility.

P.

Parlay: multiple bets are combined, and the eventuality of a win or loss depends on the entire combination.

R.

Round Robin: a multiple bet that combines 3 bets in a selection of 10 bets.

S.

Square: a betting novice.

T.

Tipster: someone who provides betting tips.

U.

Betting on the chance that a total will be under the value initially set by the bookmaker.

W.

Wager: another word for Bet.

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