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Betting Terms

Beginners entering the world of gambling often find the whole experience overwhelming. Rather than sitting back and learning about it through trial and error, take control by reading through and referring back to the comprehensive A-Z glossary of gambling terms listed below.


A
Accumulator – More than one bet placed in series. Gamblers only win if all outcomes occur.
Action – Any bet.
Against the Spread – Betting on which teams cover the spread.
Ante Post – Betting on an event far into the future.
Asian Handicap – Popular handicap in the Far East allowing increments of 0.25 and 0.75 goals on sports betting.
B
Bar – The lowest odds in a horse race not mentioned in the breakdown.
Banker – An outcome favoured strongly.
Beard – An associate charged with placing a bet to hide the real gambler.
Bet – Wagering money on the outcome of an event.
Betting Exchange – A company specializing in exchange betting (betting against other punters).
Bookie/Bookmaker – Licensed company accepting bets from customers on odds determined by them.
C
Chalk – The favorite.
Chalk Player – Someone who normally bets on the favorite.
Circled Game – Betting limited in activity due to weather or a player injury; US sports betting only.
Correct Score – Popular football bet where punters wager money on the final score.
D
Dog- Team or athlete likely to lose.
Dog Player – Player who bets on the less favorable outcome.
Doubles – An accumulator with two bets.
Double Action – ‘If-bet’ happening if the previous bet is won, tied, or cancelled.
Double Chance – Rare bet offered on a win or a draw. Bets placed on both wins and draws pay a return.
Double Result – Bets placed on both the half-time and full-time scores.
Drift – Lack of support for an outcome increasing the odds.
E
Each Way- Doubled bet which pays out in large fields (normally horse racing) if the selection wins or finishes in a paying place.
Edge – Punter’s advantage.
Exotic – Bet other than a straight bet.
Exposure – The maximum amount of money a sports book can lose over one game.
F
Favourite – The outcome with the shortest odds.
First Goalscorer – The first player to score a goal.
First Half Bet – Bet valid only during the initial half of a game.
Fold – Number of accumulator selections.
Form – How the team has performed in its last few outings.
G
GamCare – UK national information centre for all things to do with gambling.
H
Half Time Bet – Wager on a half time result.
Half Time Result – Wager placed on the team winning at half time.
Handicap – System used to make a one-side event more attractive for punters.
Handicapper – Individual studying and betting on sporting events.
Hedging – Guaranteed winnings by betting on the opposite outcome to the individual bet.
Heinz – 57 bets with six selections on separate events, includes fifteen doubles, twenty trebles, fifteen four-folds, six five-folds, and an accumulator. Two selections must win to guarantee a return.
Hook – Half a point added to betting lines.
I
IBAS – Internet Arbitration Betting Service settles disputes between gamblers and bookmakers.
L
Lay – When a bookmaker accepts a bet.
Lengthen – Increasing the odds on an inactive market.
Line – Current odds.
Lock – Heavy favourite; mainly a US term.
Longshot – Unlikely outcome.
Lucky 15 – 15 bets over four selections; includes four singles, six doubles, four trebles, and one four-fold. If one selection wins, the bookmaker returns the original wager.
M
Match Betting – Most popular and common odds betting market.
Monkey – Slang for £500.
Multiples – Alternative term for accumulators.
N
Nap – Recommended daily bet from a tipster.
No Action – A break-even bet.
Number Spread – Index spread on the goals, points, and runs scored in a game.
O
Odds – The potential returns on an outcome if a gambler places a bet.
Odds On – Odds less than evens.
Odds Against – Odds greater than evens.
Outsider – Favourite’s opposite.
Over – Football fixed odds bet pertaining to the total goals scored.
Over-Round – When a bookmaker’s profit margins descend below 100%.
P
Parlay – US name for an accumulator.
Patent – Seven bets and three selections; includes a single, 3 doubles, and 1 treble. One win guarantees a return.
Perms/Permutations – System where the punter can gain 7 bets from only 3 selections.
Point Spread – Scoring differential between two outcomes.
Pony – Slang for £25.
Price – The odds.
Punter – The bettor.
R
Round Robin – Three or more teams in two-team accumulators; involves 3 doubles, 1 treble, and 6 singles.
Runner – An associate placing a bet for another punter.
S
Scout – Punter who waits for a strong wagering opportunity.
Sharp – Professional gambler.
Singles – One bet which either wins or loses.
Special Bets – Specialised markets with things like time of first goal scorer. Designed to attract bettors.
Spread Betting – Bet which wins based on the accuracy of multiple wagers.
Super Heinz – 120 bets with seven selections, includes twenty one doubles, thirty five trebles, thirty five four-folds, twenty one five-folds, 7 six-folds, and one accumulator. Two wins guarantee a return.
Super Yankee – Alternative name for a Canadian.
T
Tic-Tac – Sign language for bookmakers on racecourses.
Trebles – A single bet with 3 selections. All must win to guarantee a return.
Trixie – 4 bets with 3 selections; includes 3 doubles and a treble. Two wins guarantee a return.
U
Under – Total goals betting.
Underdog – Outcome expected to lose.
V
Value Bet – Odds that are superior to the mathematical chance of the outcome.
W
Wise Guy – Informed and knowledgeable bettor.
Y
Yankee – eleven bets with four selections, includes six doubles, four trebles, and a single accumulator. Two wins guarantee a return.