Betting Glossary - All Terms Explained

Nowadays, people from all over the world are making thousands of money just by placing bets in some of the online bookmakers. As bookmakers are the only provider of betting services, if you want to be successful in betting, you should be very well educated, and know all of the terms, you can face through your online betting journey. So, as we, from BettingY.com, are always trying to help you, we will give a full list of terms connected with betting at online bookmakers.

 

Betting Terms

All Out

A contestant trying its best.

Asian Handicap

Asian Handicap is a way of football betting, where the stronger and favored team is handicapped by an exact number of goals. Asian Handicap increases your chances of winning because you have fewer possible outcomes. 

All Weather

A sport played on all-weather surfaces.

Also Ran

Also run is related to a race, where a competitor participates in the race but does not finish.

Arbitrage Betting

Arbitrage betting is a method of betting, which guarantee you a profit. Arbitrage is simply betting for an exact outcome at one bookmaker, and betting against the same outcome on a betting exchange. It also works if you cover all the possible outcomes in different bookmakers, depending on the odds.

Arb

Arb is short of Arbitrage betting.

American Odds

American odds are odds which indicates the return value to 100 unit base figure. When there is a minus you lose, when there is a plus you win. 

Apprentice

Apprentice is usually related to Jockey, usually a young contestant.

Accumulator

Accumulator bet is a bet, which combines more than one selection, where you should win all of them, if you lose one, you lose the whole accumulator bet.

Arber

Arber is short for an arbitrator, a bettor, who place bets with guaranteed profit.

ATC

Short for conditional bet, “Any-to-come”

At The Post

At The Post is a term used when dogs or horses are ready to start an exact race.

Back

Bet an exact amount of money on a team, contestant, or an event.

Banker

The Banker is the selection in a bet, which is most likely to win, it produces the highest strike rate.

Best Price

The odds, which gives you the best value in return.

Bet Receipt

The Bet Receipt is a copy of your bet slip, which shows your bets, odds, stakes. It has a unique tracking number, which can be used if the bet is contested.

Bankroll

Bankroll is the total amount of money, which a betting player has to place bets.

Bet

Bet is putting your money on an event, where you risk them in order to get more in return, based on the odds of that event.   

Bet Slip

Bet slip is the section in the online e bookmaker, where you can see all of your selections, odds, and stakes of an exact bet, it is kind of a receipt.

Betting Exchange

Betting Exchange is a platform, which allows you for betting against an exact outcome, which takes a commission for winnings bets.

Betting Strategy

Betting strategy is a strategy used by a bettor to create an edge over the bookmaker, in order to increase its chances of winning.

Bet Slip

The box where your bet selection appears. In the bet slip box, you can choose your bet types and stakes.

Betting in Play (BIP)

When you place a bet on an already started event.

Betting in Running (BIR)

Similar to betting in play.

Betting Without (W/O)

Placing a bet without including an exact selection.

Blinkers

Headgear placed on the horses to reduce their peripheral vision field.

Board Price

Board Price is the price listed on the bookmaker’s boards, usually for race events. The starting prices come from these boards.

Book

The size of markets offered by online bookmakers.

Bookmaker

A bookmaker is a company, which takes your money when you place a bet, and pays you money when you win the bet.

Bookie

Bookie is short of bookmaker.

BTTS

BTTC is the abbreviation of Both Teams To Score, which is a market that allows you to predict if both teams will score a goal, point?

Bonus Offer

A bonus offer is a financial bonus, which is given by bookmakers, in order to motivate its players, simply giving free money if you follow some simple rules and requirements. The most popular bonus offers are the welcome bonus offers, which you can claim immediately after you join an exact bookmaker.

Bumpers

Bumpers are national hunt flat races, where national hunt rules apply. Bumpers are quite longer races.

Buy Pricе

Buy price is the opposite of “sell price”, it is the price that you buy your bet from a bookmakers.

C&D

C&D can be found on racecards. C means an exact competitor won at that course and D means the competitor won at that distance.

Century

Century is 100, can be used for everything related to 100, 100 dollars, 100 runs, 100 points, etc.

Chase

Chase is when you place bets, in order to return losses. 

Classics

One of the 5 UK classic flat horse races.

Cashback

Cashback is a term related to one of the most popular features, offered by almost every single online bookmaker. The cashback options gives you full control on your already placed bets, simply because you can withdraw your money before even the game ended, so you can prevent loss or secure winnings.

Co-favourite

Co-favourite is when a few selections have the same odds.

Colors

Colors are determined by the owner of a horse, they are the colors of the Jockey’s silks.

Colt

Colt is a male horse, which is under 5 years old.

Course Specialist

A competitor, which is performing well on an exact track.

Cover

This is the number of points needed to beat an exact spread.

Dam

Dam is the mother of a horse.

Dead Heat

An event where at least two selections draw.

Distance

The distance of a race, or the distance, which a competitor wins a race.

Dividend

The winning return of pool betting.

Double Up

Double up is the process of doubling your stake, when a first bet loses.

Draw

When an exact game ends without loser or winner, when both teams scored the same amount of goals, points...

Double or Nothing

Double or Nothing, is a bet, which is placed after a losing bet, in order to determine, if you lose the whole stake or double it.

Decimal Odds

An odds expression, which is shown in decimal, decimal odds are also known a European odds.

Draw

When an exact game ends without loser or winner, when both teams scored the same amount of goals, points...

Double Chance

Double chance is mostly used from bettors for soccer games. Double Chance allows bettors to win if two different outcomes happen.

Drift

Drift is when odds are increasing before the start of an exact event.

Early Price

Early price is the odds offered in advance.

Edge

The advantage, which a player has against an exact online bookmaker, or an advnatage, which the bookmaker has against a player.

Evens

A bet which gives you the same amount in return, odds of 1/1 (2.0),

Exotic Wager

Exotic wagers are different from the others. They are not a straight, or multiple bet. They are known in sportsbooks as prop bets.

Extra Time

Extra time is the additional time added after the end of an exact game, if the result is equal.

Favorites

Favorites are most likely to win, usually they have the lowest odds.

Fillie

A female horse, which is under 5 years old.

First Past the Post (FPP)

FPP is usually used for races. This is the first competitor, which passes the finish line.

Fixed Odds

Fixed odds are determined by bookmakers, fixed odds are the fixed prices.

Flat Races

Flat races are horse races, run on flat terrain.

Foal

Foal is a horse, which is up to 1 year old.

Free Bet

Free Bet is a bet offered by online bookmakers for free, the total stake amount for the bet will be not taken from your account, and after you win the bet you are going to receive the net winnings.

Fractional Odds

Fractional odds are another odds format. They are mainly used in the UK, they are written as a fraction.

Full Cover

Full cover is a type of bet, which covers all of the multiple bets.

Full Cover with Singles

Full Cover with Singles is a type of bet, which covers all types of individual singles.

Full Time

Full Time is commonly used in football, this is the total time of an event, in football, it is 90 minutes.

Futures

Futures is similar to the Ante-post but is mainly used in the US. Futures are bets where prices are offered in advance.

Gelding

The gelding is a male horse, which has been castrated.

Going

Going is a soft ground condition.

Going Down

This is when a horse is making its way to the straight post.

Going In

When a competitor going to their stalls, in order to start a race.

Going to Post

Going to Post is simply going down.

Grand

A grand is 1000.

Grand Slam

The Grand Slam is awarded when an exact tennis player wins all the top 4 titles from the four biggest tournaments, Wimbledon, Australian Open, US Open, Rolland Garros in the same year.

Goliath

The Goliath bet is one of the largest bets, a selection consisting of 247 bets: 28 doubles, 56 trebles, 70 four-folds, 56 five-folds, 28 six-folds, 8 seven-folds and an eightfold accumulator. 

Grand National

Grand National is the largest steeplechase, run near Liverpool.

Guineas

Guineas is referred to two classic flat races, the 1000 and 2000 Guineas.

Half Time

Half-time is the middle of the time of an exact game, when teams make a break, mainly used for football.

Handicap Races

Handicap races are mainly related to horse races. This is when competitors carry weights, in order to equalize the chances of every horse. The better horses, the more weights. 

Head

Head is referred to as a horse head. This term is mainly used to say that a horse won by ahead.

Held Up

Held up is mainly used for horse or dog races, where the competitor is restrained behind the other ones in the early race.

Hedging

Hedging is similar to arbitrage betting, this is when you cover all the possible outcomes on different bookmakers, in order to guarantee a profit.

Heinz

Heinz is a full cover bet on 6 selections, which consists of 57 bets, 15 doubles, 20 trebles, 15 4-fold, 6 5-fold, 1 six-fold.

Home Advantage

The home advantage is given on a team when the game is on the home stadium or terrain of that team.

Holding Your Own

Holding your own is simply breaking even, neither losing or winning.

House

House is another word for “bookmaker”.

Hunter Chase

Hunting chase is another type of horse race.

Hurdle

Hurdle is a type of fence in national hunt races.

IBAS

This is the institution, which comes when a dispute cannot be resolved between the bettor and the bookmaker. The Independent Betting Adjudication Service.

Injury Time

This is an additional time, which is given after the game, because of time lost because of injuries.

In-Play

In-play is referred to as an event, which already started.

Index Betting

Index Betting is mainly related to Spread Betting.

Jack

Jack is the slang word for 5 pounds.

Jackpot

Jackpot is the top price, which you can get by winning a game or competition, mainly related to casino games.

Joint Favourite

Joint Favourite is related to at least two selections, which have the lowest odds.

Jolly

Jolly is mainly referred to horse races. This is the competitor, which is favored.

Juice

Juice is the commission, which is taken by a bookmaker.

Kite

Kite is the slang word for cheque.

Lay

Lay bet comes from the exchange betting, this is when you bet against an exact outcome.

Layer

A layer can be referred to as a bookmaker or a person, which is providing the options for betting.

Length

Lenght is mainly used for horse or dog races, and is used to be said a competitor won by a length, where length is considered as the length of the animal

Line

Line is a single bet.

Long Odds

Long odds is a high-value odds.

Long Shot

Long shot is a selection of long odds, which is very unlikely to win. 

Maiden

Maiden is mainly related to cricket, this is when in an over, in which no runs are scored, also in horse races it means that a horse is said that it will win before the race. 

Mare

Mare is a female horse, which is over 5 years old.

Martingale

Martingal is a strategy, which guarantees you a profit. This is when you double your stake until you win.

Match

Match is a game, which consists of 2 teams.

Match Betting

Match betting is when you bet on the outcome of an exact match.

MLB

MLB is the Major League Baseball.

MLS

MLS is the Major League Soccer.

Monkey

Monkey is the slang word for 500 pounds.

Morning Line

The morning line is the advance forecast of probable odds.

Multiple

Multiple is a bet, which consists of more than one selection.

Nailed On

Nailed on is when a bet is considered as winning.

Nap

Nap is a term, which is used for strongest selections.

NBA

NBA is the National Basketball Association.

NCAA

NCAA is the National Collegiate Athletic Association.

Neves

Neves is used to determine the best bet for the day.

NFC

NFC is the National Football Conference.

NFL

NFL is the National Football League.

NHL

NHL is the National Hockey League.

National Hunt Racing

National Hunt Racing is another name of jump horse races.

Non-Runner

Non-runner is a selection which is withdrawn.

Normal Time

This is the usual time of an exact game.

Novice Race

Novice race is mainly related to horse races. This is a race, in which no horse won.

Number Spread

Number Spread is a term, which is used for betting on the number of goals, points, runs, etc.

Nursery Race

Nursery Race is a horse race, in which all horses are under two years old.

Oaks

Oaks are classic flat horse races.

Odds

Odds are the prices offered by a bookmaker to a stake.

Odds Against

Odds against are odds higher than evens.

Odds Compiler

Odds compiler is a person, who’s job is to set all the odds.

Odds On

Odds on are odds lower than evens.

Off

The Off is used for the point in which a race begins.

Off the Board

Term used mainly in the USA, which is given to a selection of 100/1+.

Off the Bit

This is terms used for a horse, which needs urging on.

Off the Top

Off the top is the commission taken from a bookmaker.

Off Track

Off-track are bets taken away from the track.

Official Result

The official result is the result on which bets are settled.

On the Nose

On the nose is a back bet, which is only to win.

On the Bit

On the bit is a horse, which runs without the motivation from the jockey.

One Paced

A selection, which runs on one pace, and cannot produce more.

Outsider

Outsider is a selection, which is considered as unlikely to win, usually with extremely high odds.

Over

Over is a selection, which is referred to betting over an exact number of goals, which are defined before the start of the game.

Overbroke

Overbroke is a bookmaker, which pays more than it takes.

Overlay

Overlay is a selection, which has higher odds than are the real winning chances.

Over Round

Over Round is also a term used for the profit, which bookmaker builds.

Pace

Pace is the speed on which an exact race is running.

Paddock

Paddock is the section that horses are paraded before the race.

Parlay

Parlay is an accumulator with two or more selections, mainly used in America.

Patent

Patent is a full cover bet, which consists of 3 selections and 4 lines.

Permutations

Permutations are all the possible outcomes of a given result of the event.

Photo Finish

Photo finish is a way to determine the winner if it is hard to be seen easily.

Picks

Picks are individual selections.

Pitch

Pitch is the ground on which sports are played.

Place

Place is the position for winning of each way or place betting.

Place Terms

The number of places and odds given to a win.

Point Spread

The difference between the points of two players on the field.

Pool

The number of the bets in the pot.

Pony

Pony is a slang word used for 25 pounds.

Postponed

Postponed is related to a game, which is canceled or rescheduled.

Price

Price is the same as the odds.

Punter

Punter is a term used for bettor in the UK.

Quinella

Quinella is the US term of forecast bet.

Rag

Rad is the slang word used for outsider.

Re-run

Re-run is a race, which is retaken for technical reasons.

Related Bets

Related bets are bets, which can influence your bet, so that they cannot be placed in a multiple bet.

Return

Return is the total amount, you can get from winning a bet.

Reverse Forecast

Reverse Forecast is a forecast bet, which requires you to predict at least the first and second place, where each selection can finish in either place, in order to be winning.

Ringer

Ringer is the competitor, which is considered better than all the other competitors.

Round Robin

A bet type consisting of 10 bets, 1 treble, 3 doubles and 3 up and down bets.

Rounder

Rounder is a conditional bet with 3 selections, 3 singles, and 3 any to come bets.

Roundabout

Roundabout is the same as rounder, but with double stakes.

Roug

Roug is the slang word for 4/1.

Run In

Run In is the distance from the final turn to the finish line.

Runner

A selection which places bets for someone else.

Scout

A scout is someone who waits for the best price.

Score

Score is a term used to win a race, also is a slang word for 20 pounds.

Scratch

Scratch is a US term, which is used for the withdraw of a competitor.

Selections

The competitor, team, player predicted to win in your bet.

Selling Race

The selling race is simply that the winner should be offered for sale at auction.

Settler

Settler is the bookie expert, which is calculating the payouts.

Sharp

Sharp is a professional gambler.

Shortening the Odds

Shortening the odds is when a bookie decide to lower the odds, because of a lot of bets placed for that outcome.

Shoulder

Shoulder is a slang word used for 7/4.

Show

Show has two meanings. The US term for 3rd place, also the UK term for odds list.

Shut Out

Shut out is when it is too late to place a bet.

Single

Single is the simplest form of bet, simply a one-line bet.

Sire

Sire is the father of a horse.

Smart Money

Smart Monet is the bet, which is most likely to win.

Special Bets

Special Bets are bets, which are unusual. 

Spread

Spread is mainly referred to define the lowest to the highest odds for a selection of a prediction.

Spread Betting

Spread Betting is a bet type, in which winnings and losses are not fixed.

St Leger

St Lage is one of the 5 classic races for 3 years old fillings.

Stake

Stake is the amount of money you place on a bet.

Stake Unit

The stake unit is the amount of money, you place on each line of a multiple bet.

Starting Price

Starting price is the final price when the game start.

Straight

Straight is the US term for a win.

Straight Forecast

Straight Forecast is predicting the competitors to win in an exact order.

Steeplechase

Form of National Hunt jump racing.

Steward

Racecourse official.

Stewards Inquiry

This is an investigation, which is held by a steward if the rules of racing are deemed to be contravened.

Stoppage Time

Stoppage time is similar to injury time.

Superbowl

Superbowl is the American Football Championship.

Super Heinz

Super Heinz bet is a bet of 7 selections consisting of 120 bets, 1 seven-fold, 7 six-folds, 21 five-folds, 35 four-folds, 35 trebles, 25 doubles.

Super Yankee

Super Yankee is a bet of 5 selections consisting of 26 bets, 5 fold, five 4-fold, ten trebles, and ten doubles.

Sure Thing

Sure thing is a bet, which is very likely to win.

System

The system is a method of betting.

Tattersall

Tattersall is the main auctioneer of a horse race in the UK.

Tic Tac

Tic Tac is a system of hand signals, with which help bookies can communicate for the markets.

Tip

A tip is a selection, which is offered by a professional gambler.

Tipster

Tipster is a person or company, which gives professional tips for money.

Totals

The total number of scores, goals, points. Bettors can choose to place a bet for over/ under goals, points, or an exact number of goals, points.

Tote

Tote is a short term for Horserace Totalisator Board.

Tote Board

Tote Board is where information about tote prices are displayed.

Tote Return

Tote returned is how much amount you can get from the pool divided by the number of winnings bets.

Tout

Tout is similar to a tipster, but tout is selling tips illegally.

Trap

Trap is used to determine the name of an enclosed date in greyhound races.

Treble

Treble is an accumulator bet consisting of 3 selections.

Tricast

Tricast is predicting the first three winners of an event.

Trip

Trip is the distance of a horse or dog race.

Trixie

Trixie is a full bet with 4 lines on 3 selections consisting of 3 doubles and trebles.

Turf Accountant

Turf Accountant is the slang word for UK Bookmaker.

Under

Under is related to over/ under markets. Under is simply betting on a score to be less than an exact number.

Underdog

Underdog is simply a selection, which is determined to be losing.

Under Official Starters Orders

When the official starter is ready to start all the races, a flag is raised to indicate it. 

Union Jack

Union Jack is a special bet type, which consists of 9 trebles made from 9 selections.

US Odds

US Odds is another word for American Odds.

Value

Value is getting the best odds from all of the bookmakers.

Visor

A visor is an object used to restrict the vision of horses in forward directions.

Vig or Vigorish

Vig or Vigorish are words used for bookmakers’ margins or commission on a given book.

Void Bet

Void Bet is a bet, which has been canceled and the stakes are returned to the bettors.

Virtual Sports

Virtual Sports are electronic sports, which are based on the real equivalents, with the only difference that they are virtual, and are quite shorter, about 1 minute. Virtual Sport’s results are generated by algorithms, which means everything is random.

Walk over

Walk Over is the process of selection going through the winnings process without competing, usually as a result of a penalty or a foul.

Wager

A form of placing money on odds offered by different online bookmakers.

Weigh In

This term is used mainly in boxing and racing. This is the process of making sure that a player is not overweight, based on the requirements. 

Welch

Welch is a non-payment of a fair bet.

Win

Win is simply finishing in the first place.

Win / Draw / Win

This is a name given to a match betting market, which consists of three possible outcomes.

Winning Margin

Winning Margin is the distance between the winner and the runner up.

Winnings

Winnings are the net money, you can get from a bet.

With a Run

With a Run is a name given to an ante-post bet, where your stake will be refunded.

Withdrawn

Withdrawn is related to a selection, which is removed prior to the start of the event. 

X

X is short of a draw.

Yankee

Yankee is a type of full cover bet with four selections and 11 lines, consisting of 6 doubles, 4 trebles, and one four-fold.

Yankee Patent

Yankee Patent is a Yankee bet with 4 singles included, also known as a Lucky 15.

Yearling

Yearling is the name of any horse from 1st January to 31st December one the next year of their birth.

Zoo

Mixture of different selections or contestants in one event.

Conclusion

As we already mentioned a lot of people are making thousands, or even millions of money just by placing bets on different online bookmakers. In this article, you can learn all the terms, which you can face through your online betting journey in online bookies. There is simply not a way to be successful without knowing the ones, which are related to your chosen sport. These are the major terms, which you should know for sure. In order to help you, even more, we are going to add any terms, which we see in the future, so that if you want to see what an exact term means, you are free to check our Betting Glossary.

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