Betting Guide » Online Betting Tutorial
Step 9 - Betting Glossary of Terms
A-Z Guide of Betting Glossary Terms
| Name | Description |
|---|---|
| Accumulator | A cumulative bet where the punter selects several matches or events, with each match tying into each other. More here |
| Arbitrage | Where a variation in odds allow punters to make a sure free profit. More about Arbitrage’s here |
| Asian Handicap | A form of soccer betting that eliminates the draw by implementing a handicap. Is a good way of finding value in soccer betting that’s popular in Asia. More about Asian Handicap here |
| ATS | Against the spread. |
| Bad Beat | A bad loss where you consider yourself unlucky, or an unexpected loss. A common term in Poker. |
| Banker | Also known as a ‘sure thing’ where a punter is almost guaranteed a win. Also, in permutation bets the banker is a selection that must win to guarantee any returns. |
| Book | A bookie's tally of amounts bet on each game, competition, and odds necessary to assure him of profit. |
| Bookmaker or Bookie | A person or company who accepts bets from the public, usually on racing or sports events. |
| Chalk Player | A punter who bets only on the favourites. |
| Cover | Used in sports betting where you bet on a team to cover the number of points quoted on the line or spread. |
| Dog | The underdog of a particular event, ie. Not expected to win. |
| Dog Player | A punter who bets mainly on the underdogs. |
| Dollar Bet | A $100 bet. |
| Doubling-Up | The basis of some widely used systems. After a loss the player doubles the size of his previous bet hoping to win back the money lost and make a profit. This is also known as a Martingale system. |
| Drift | When the odds on a competitor or team lengthen, it is common to be said that they have "drifted" or be "on the drift". |
| Edge | The advantage you have. |
| Each Way | A bet consisting of two wagers. The first is for the selection to win and the second is for the selection to place. Popular in racing betting. |
| Evens | Odds of $2.00, or 1/1. |
| Even Money | A wager which doubles your stake. |
| Exotic Wager | Any wager which is not a straight bet. |
| Form | Recent performances of a team either home or away, or overall, to give an indication of a teams winning chances. |
| Form Player | A punter who bets mainly on teams going by their past performances. |
| Futures | Odds offered on winners of sporting events in advance of the event itself, eg. AFL Premiership Market. |
| Goliath | A multiple consisting of 247 bets (28 doubles, 56 trebles, 70 4-folds, 56 5-folds, 28 6-folds, 8 7-folds and 1 8-fold) involving 8 selections in different events. More on Parlays here |
| Handicap | A method used by bookmakers to make a match even and more of an attractive proposition for punters to bet on. |
| Heinz | A multiple bet consisting of 57 bets (15 doubles, 20 trebles, 15 4-folds, 6 5-folds and 1 6-fold) involving 6 teams in different matches. More on Parlays here |
| Odds | The bookmaker's view of the chance of a team winning or event happening, adjusted to include overround. |
| Odds-Against | Where the odds are greater than evens. For example, $2.01+ or 5/2. |
| Odds-On | Where the odds are shorter than evens, ie. $2.00 or less, or 1/1. If the selection wins, the amount won is less than the amount staked. |
| Outsider | A long shot, or a competitor not expected to win. |
| Over/Under | A bet on whether the combined total of the points scored by the two teams will be more or less than a pre-established number. |
| Overround | Profit margin in the bookmaker's favour. More on Overround here |
| Parlay Bets | Another word for an accumulator bet where punters can multiply their odds by involving 2 or more legs in a bet. More on Parlays here |
| Patent | A multiple bet consisting of 7 bets involving 3 selections in different events. A single on each selection, plus 3 doubles and 1 treble. More on Parlays here |
| Permutations | It is possible to "perm" bets or selections (e.g. on 4 selections all the possible doubles could be "permed" making 6 bets). |
| Picks | Also known as tips. Picks are the recommended bets from an expert. |
| Pointspread | The start that the favourite gives the underdog. Also known as the line or handicap. |
| Teaser | A pointspread based bet where the punter can move the line in his favour, but this is in return for reduced odds. |
| Tips | Also known as Picks. Tips are the recommended bets from an expert. |
| Tipster | A person who makes recommendation on the outcome of matches to punters. |
| Totals | A type of bet where a punter can bet on the match total. |
| Treble | A bet consisting of 3 selections, all of which must win for the wager to be successful. More on Multiples here |
| Trixie | A multiple bet consisting of 4 bets (3 doubles and 1 treble) with 3 selections in different events. More on Parlays here |
| Underdog | The team that receives a point start in a handicap. An unlikely winner. A long shot. |
| Push | When neither side wins the game. A tie. All money will be returned to the bettors. |
| Round Robin | A bet consisting of 10 bets (3 pairs of "single stake" bets plus 3 doubles and 1 treble) involving three selections in ifferent events. More on Parlays here |
| Single | A "straight" bet on one selection to win. The simplest bet to place and the most common. |
| Spread Betting | A type of bet where punters can either ‘buy’ or ‘sell’ based on the spread quoted by the bookmakers. Returns can be large and the bet isn’t decided until the match is fully complete which makes it an entertaining form of betting. More on Spread Betting here |
| Spreads | Also known as handicaps or lines. |
| Super Yankee | A Super Yankee is a multiple bet with five selections instead of four. More on Parlays here |
| System | A method of betting, usually mathematically based, used by a punter to assist them in gaining a profit. More on Systems here |
| Value | Getting the best odds on a wager. |
| Winning Margin | A bet to predict the winning margin of one team over another. |
| X | Refers to 'a draw' on a soccer betting coupon. For example 1X2 indicates Home Win (1), Draw (X) or Away Win (2). |
| Yankee | A multiple bet consisting of 11 bets (6 doubles, 4 trebles and 1 4-fold) on 4 selections in different events. More on Parlays here |
