Sports betting acronyms
Banker see also Lock Strongly favoured selection around which multiple bets are often built. Beard Third-party bettor used to conceal the true identity of the real bettor. Best-price percentage The inherent advantage a bookmaker holds within a given market. Bet see also Wager Risk money on the outcome of an event with the return proportionate to the perceived likelihood as measured by odds. Betting strategy A systemic approach to placing bets designed to generate an edge for the bettor over the bookmaker or house.
Binary betting see also Fixed-odds betting , Spread betting A combination of spread and fixed-odds betting with only two outcomes 0 or , with the bet struck against a bid or offer somewhere between the two, for an agreed unit stake. Board price The price available to bettors from bookmakers who operate trackside at horse or greyhound racing.
Bonus A conditional incentive given by bookmakers to entice new or existing account holders to betting activity. Bonus-chasing Opening new accounts for the sole purpose of exploiting the bonus offers. Buy points see also Sell points Accepting inferior odds in exchange for an increased point spread advantage. Canadian line Chalk see also Favourite , Jolly The option in any given betting market considered most likely to win as measured by the implied probability of the odds.
Circled game A game in which the bet limits are capped at modest levels. Usually occurs when markets are first displayed; in added games; Specials; in reaction to bad weather, injuries or suspect betting patterns; halves of games. Closing line The last available odds offered before a market closes. Bettors who "beat the closing line" have placed a bet offering a superior return to the final odds offered; consistently beating the closing line is a sign of a successful bettor.
Closing odds The last available odds offered before a market closes. Bettors who "beat the closing odds" have placed a bet offering a superior return to the final odds offered; consistently beating the closing odds is a sign of a successful bettor. Co-favourite Commission see also Juice , Margin , Vigorish The cost of placing a bet calculated by summing the implied probability and subtracting from , the measure of a fair market.
Correct score Soccer bet where the bettor predicts both the winning team and the correct final score of the game. Decimal odds An odds expression sometimes referred to as European odds where the odds are shown in decimal format. Dog Abbreviation of underdog; the selection perceived by the market as least likely to win. Double action A bet which is conditional on the success of a preceding bet.
Also known as "double pop" or "doubling up". Double result A conditional bet that combines the result at half-time with the result at full-time. Double-header Draw see also Push , Tie When the contest ends with no winner or loser. Drift When odds lengthen, implying a decreased likelihood of the event occurring; odds are said to have drifted or are "on the drift". Each-way A bet that comprises two independent bets, one for the selection winning and one for the selection placing e.
Place conditions vary in relation to the number of participants. Mostly commonly, but not exclusively, used in horse and greyhound racing. Elo ratings Invented by Hungarian-born American master level chess player and physics professor Arpad Elo. A way of comparing the skill levels of players in competitor-versus-competitor games. Expected goals The number of goals a team or teams would expect to score in a match. This is determined by assigning a value to shots on goal, the number of shots, shot location, the in-game situation and the proximity of opposition defenders.
Expected value The amount a player can expect to win or lose if they were to place a bet on the same odds many times over, calculated through a simple equation multiplying your probability of winning with the amount you could win per bet, and subtracting the probability of losing multiplied by the amount lost per bet. Exposure Potential losses to which a sportsbook or bettor is exposed to in a given market or bet.
Favourite see also Chalk , Jolly The selection that the markets sees as the most probable winner of a given event. The quoted odds reflect the extent to which the choice is favoured. First half bet see also Second half , Quarter bet A bet on the outcome of the first half of a game only. Fractional odds Future see also Ante-post , Proposition , Special Odds for the winner of a specific future event often posted far in advance of it occurring.
Grand Salami Betting on the grand total of goals scored in all the listed games of the day within a specific league e. Half time bet see also First half bet A bet on the result of the first half of a game only. Half-ball handicap A Handicap which is 0. Handicap A numerical figure set by the bookmaker to counter the perceived bias in abilities of opponents - this provides more balanced odds.
Handicapper Someone who uses maths based rating systems to forecast outcomes on sporting events and place bets accordingly. Read more about how the Asian Handicap works here. Arbs Arbs are arbitrage bets , that is, those in which the bettor gets profits regardless of the outcome.
Instead, you need to wait for odds discrepancies at different bookmakers. You can call a bet an arb only when the odds are set in such a way that if you cover all possible outcomes, you will make a profit. The bonus comes in the form of a Free Bet, which means that you only put your money on one of the two outcomes. This practically makes any bet made in Matched Betting a proper arb — you win profits no matter what.
For many, Betfair is also the best exchange in the world, thanks to its large betting volume. An important thing to remember is that Betfair is not the same as Betfair Sportsbook. Guessing the correct score is interesting for the bettors and can be very profitable as the odds are pretty high.
Usually, the odds on the most probable Correct Score are way over 2. Apart from football, the Correct Score market also exists in tennis, where you need to guess the correct set score. Instead of placing two separate bets on Team 1 and Draw, you can make a Double Chance bet. In the Matched Betting universe, DC is a popular choice for those who wish to use Cover Bookmakers instead of betting exchanges.
One of the reasons why this exchange is loved by the players is that its commission structure is pretty good. With this kind of deal, you get your money back if your bet loses if certain criteria is fulfilled. What kind of criteria that is depends on what kind of promotional deal the bookmaker is offering.
One of the examples of Money Back Specials is the late goal insurance. Usually, the margin comes in the form of a number and a half, so that there are only two outcomes possible. What the RTP is for casino games, the bookmaker margin is in sports betting. The betting odds are set in such a way that regardless of the outcome, the house always wins.
To understand how this works, you better take a look at an example involving a two-way bet with the same odds on each outcome. As you can see in the image above, the point margin on James Harden is set at You can bet either Over or Under and the odds are the same in both cases 1.
If you placed an equal amount of money on both of those bets, you would end up losing 9. One of the main reasons why the number of Smarkets users is growing all the time is the fact that this exchange uses a very favorable commission structure.
Almost every online bookmaker is giving some kind of a welcome present to the newcomers. Usually, the present comes in the form of a matched deposit bonus.
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