📝 Betting Glossary
Every betting term explained in plain English. Use the alphabet navigation or scroll through the accordion sections to find any term.
A
▾- Accumulator (Acca)
- A single bet that combines multiple selections. All selections must win for the bet to pay out. The odds multiply together, creating potentially large returns from small stakes. Also known as a parlay in the US.
- Ante-Post
- A bet placed well in advance of an event, often days or weeks before. Ante-post bets typically offer better odds but carry more risk — if your selection is withdrawn, you usually lose your stake (unless the bookmaker offers Non-Runner No Bet).
- Asian Handicap
- A form of handicap betting that eliminates the draw outcome by using half-goal and quarter-goal handicaps. Popular in football betting, especially in Asian markets.
- Against the Spread
- A bet on whether a team will cover the point spread set by the bookmaker. Common in American sports betting (NFL, NBA). If the spread is -7, the team must win by more than 7 points.
B
▾- Banker
- A selection you consider almost certain to win. In accumulator betting, the banker is the selection you build your bet around. In "banker" bets (like a Lucky 15), it's a selection that triggers a bonus if it wins.
- Back Bet
- A bet placed in support of an outcome happening. This is the standard type of bet you place at a bookmaker. The opposite is a lay bet, which bets against an outcome.
- Bankroll
- The total amount of money you have set aside specifically for betting. Good bankroll management is essential for long-term success.
- Beaten Favourite
- A horse or team that was the favourite (shortest odds) but failed to win. Some bookmaker offers refund your stake if the favourite loses.
- Both Teams to Score (BTTS)
- A popular football market where you bet on whether both teams will score at least one goal in the match. See our BTTS guide.
- Book Value
- The total percentages implied by a bookmaker's odds on a market. A fair book is 100%. Most bookmakers set books above 100%, with the excess being their profit margin (see Overround).
- Bookmaker
- A company licensed to accept bets on sporting events. Also known as a bookie, sportsbook, or betting operator. They set the odds and pay out winning bets.
C
▾- Cash Out
- A feature that lets you settle a bet before the event has finished. You can lock in a profit or cut your losses. The cash out amount is calculated based on the current odds and how your bet is performing.
- Correct Score
- A bet on the exact final score of a match (e.g. 2-1). These bets offer high odds because they are difficult to predict, but the potential returns are large.
- Cover (Spread Betting)
- When a team wins by enough points to beat the spread. If the spread is -3.5 and the team wins by 4 or more, they have "covered" the spread.
D
▾- Dead Heat
- When two or more selections tie for a position. In horse racing, dead heats for a place mean your winnings are divided by the number of tied runners. For example, a dead heat with two horses means you receive half the full payout.
- Double
- A bet on two selections. Both must win for the bet to pay out. The odds of the two selections are multiplied together.
- Draw No Bet
- A market where your stake is refunded if the match ends in a draw. You only win or lose — the draw is eliminated. See our Draw No Bet guide.
- Drift (Odds Drifting)
- When the odds on a selection get longer (higher). This usually means money is being placed on other selections, or the market considers this outcome less likely than before. The opposite is "steaming".
E
▾- Each Way
- A bet that is actually two bets — one on the win, one on the place. If your selection wins, both parts pay out. If it places (e.g. top 3 in horse racing), only the place part pays. See our each way guide.
- Enhanced Odds
- A promotional offer where a bookmaker temporarily increases the odds on a selection to attract new customers. Also called "price boosts" or "super boosts".
- Exchange Betting
- Betting where punters bet against each other rather than against a bookmaker. Exchanges like Betfair and Smarkets act as intermediaries, taking a small commission. You can both back and lay selections. See our exchange vs bookmaker guide.
- Expected Value (EV)
- A mathematical calculation showing the average amount you can expect to win or lose per bet over the long run. Positive EV (+EV) means a profitable bet over time. It's the foundation of value betting.
F
▾- Fixed Odds
- A bet where the odds are agreed at the time you place your bet and cannot change. Most bets at bookmakers are fixed odds — your returns are locked in regardless of how the odds move later.
- Forecast Bet
- A bet predicting the first and second-place finishers in the correct order. A "reverse forecast" covers both possible orders. Common in horse racing and greyhound racing.
- Free Bet
- A promotional offer where the bookmaker gives you a bet at no cost. If the free bet wins, you typically receive the winnings but not the free bet stake back (known as "Stake Not Returned" or SNR).
- Full Cover Bet
- A bet that covers every possible combination of doubles, trebles and accumulators from a set of selections. Examples include Trixie, Patent, Yankee, Lucky 15 and more.
G
▾- Gubbed
- When a bookmaker restricts your account — limiting your maximum stake, removing access to promotions, or closing your account entirely. This typically happens to profitable bettors or those doing matched betting.
- Going (Horse Racing)
- The condition of the ground a horse race is run on. Categories range from "firm" (hard, fast ground) through "good" to "heavy" (soft, wet ground). Different horses perform better on different going.
H
▾- Handicap
- A bet where one selection is given a virtual advantage or disadvantage to level the playing field. See our handicap betting guide.
- Hedge
- Placing additional bets to reduce risk or guarantee a profit regardless of the outcome. For example, if your accumulator has one leg remaining, you could lay the final selection on an exchange to lock in profit.
- Heinz
- A full cover bet on 6 selections consisting of 57 bets: 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and 1 six-fold accumulator. Named after the "57 varieties" slogan.
I
▾- In-Play Betting
- Placing bets while an event is in progress. Also called "live betting". Odds update in real time based on what is happening in the match. Most bookmakers now offer extensive in-play markets.
- Implied Probability
- The probability of an outcome as suggested by the odds. For example, decimal odds of 2.00 imply a 50% chance. See our implied probability guide.
J
▾- Joint Favourite
- When two or more selections share the shortest odds in a market. In horse racing, joint favourites split the favourite status.
- Juice (Bookmaker Margin)
- Another term for the bookmaker's margin, also known as vig, vigorish or overround. It's the built-in profit margin in the odds. See our overround guide.
L
▾- Lay Bet
- A bet placed against an outcome happening. Only possible on a betting exchange. When you lay a bet, you act as the bookmaker — if the selection wins, you pay out; if it loses, you keep the backer's stake. See our lay bet calculator.
- Liability
- The maximum amount you could lose on a lay bet. Calculated as (lay odds - 1) × lay stake. This is the amount the exchange holds from your account to cover potential losses.
- Lucky 15 / Lucky 31 / Lucky 63
- Full cover bets including singles. A Lucky 15 is 15 bets on 4 selections (4 singles, 6 doubles, 4 trebles, 1 four-fold). Lucky 31 covers 5 selections (31 bets), Lucky 63 covers 6 selections (63 bets). See our full guide.
- Line (Spread Betting)
- The point spread or handicap set by the bookmaker for a sporting event. Common in US sports betting (e.g. "the line is -3.5").
M
▾- Matched Betting
- A technique that uses free bets and promotions to guarantee a profit regardless of the outcome. It involves placing a back bet at a bookmaker and a lay bet at an exchange to cover all outcomes. See our matched betting course.
- Maximum Bet
- The largest stake a bookmaker will accept on a particular market. Bookmakers may reduce maximum bets for sharp (winning) customers or on less liquid markets.
- Moneyline
- A bet on which team will win the game outright, with no point spread. Common format in US sports betting. The favourite has negative odds (e.g. -150) and the underdog has positive odds (e.g. +130).
- Multiples
- Any bet combining two or more selections. Includes doubles, trebles, accumulators and full cover bets like Trixie, Yankee, and Heinz.
N
▾- Non-Runner
- A horse or participant that is withdrawn from an event before it starts. In horse racing, non-runners can trigger Rule 4 deductions on remaining selections.
- Non-Runner No Bet
- A promotional offer where your stake is refunded if your selection is withdrawn. This removes the main risk of ante-post betting. See our NRNB guide.
O
▾- Odds
- The price offered by a bookmaker that determines how much you win relative to your stake. Higher odds mean a bigger potential payout but a lower chance of winning. See our odds guide.
- Odds Against
- When the odds are greater than evens (e.g. 5/2, 3.50 decimal). If you win, you receive more than your stake. Opposite of "odds on".
- Odds On
- When the odds are less than evens (e.g. 1/2, 1.50 decimal). You receive less profit than your stake if you win. This means the outcome is considered more likely than not.
- Overround
- The bookmaker's built-in profit margin. Calculated by adding the implied probabilities of all outcomes — the amount above 100% is the overround. A 105% book means the bookmaker has a 5% edge. See our overround guide.
- Over/Under
- A bet on whether the total (e.g. goals, points) in an event will be over or under a specified number. See our over/under guide.
P
▾- Patent
- A full cover bet on 3 selections consisting of 7 bets: 3 singles, 3 doubles and 1 treble. Unlike a Trixie, a Patent includes singles so you can profit even if only one selection wins. See our full cover bets guide.
- Place Bet
- A bet on a selection finishing in the top positions (e.g. top 3 in a horse race). Place terms vary by the number of runners and the type of race.
- Price Boost
- A temporary increase in odds offered by a bookmaker as a promotion. Popular for featured matches or events. Sometimes called "enhanced odds" or "super boosts".
- Profit Margin
- The percentage of revenue a bookmaker keeps as profit. This is built into the odds through the overround. Lower margins mean better value for bettors.
- Push
- When the result exactly matches the spread or total, resulting in all bets being refunded. For example, if the spread is -7 and the team wins by exactly 7 points, it's a push. Common in US sports betting.
R
▾- Reload Offer
- A promotional offer available to existing customers (as opposed to welcome offers for new signups). Reload offers include free bets, enhanced odds, and money-back specials. See our reload offers guide.
- Return
- The total amount paid back to you if your bet wins — includes both your original stake and your winnings. For example, a £10 bet at 3.00 decimal odds returns £30 (£10 stake + £20 profit).
- Rule 4 Deduction
- A deduction applied to winnings when a horse is withdrawn from a race after betting has started. The size of the deduction depends on the odds of the withdrawn horse — the shorter their odds, the bigger the deduction.
S
▾- Single
- A bet on one selection. The simplest type of bet — if your selection wins, you win. If it loses, you lose your stake.
- SP (Starting Price)
- The official odds of a horse at the moment the race starts. Determined by on-course bookmakers. See our starting price guide.
- Spread Betting
- A form of betting where the payout is determined by how accurate your prediction is, not just whether you're right or wrong. Your profit or loss increases the further the result is from the spread.
- Steam (Odds Movement)
- When odds shorten rapidly (get shorter), usually because large amounts of money are being placed on a selection. "Steaming" is the opposite of "drifting".
- Staking Plan
- A predetermined strategy for how much to bet on each wager. Common plans include flat staking (same amount every bet), percentage staking (a % of your bankroll), and the Kelly Criterion. Part of good bankroll management.
T
▾- Treble
- A bet on three selections. All three must win for the bet to pay out. The odds are multiplied together.
- Trixie
- A full cover bet on 3 selections consisting of 4 bets: 3 doubles and 1 treble. Unlike a Patent, it doesn't include singles, so you need at least 2 winners to get a return.
- True Odds
- The real probability of an outcome, without any bookmaker margin built in. True odds of a fair coin toss would be 2.00 (evens), whereas a bookmaker might offer 1.91 — the difference is their margin.
U
▾- Union Jack (Bet Type)
- A combination bet involving 9 selections arranged in a 3×3 grid. You back 8 trebles based on lines across, down and diagonally — resembling the pattern of the Union Jack flag.
- Underdog
- The selection considered least likely to win, with the longest (highest) odds. Backing underdogs can be profitable if bookmakers have underestimated their chances — this is the basis of value betting.
V
▾- Value Bet
- A bet where the odds offered are higher than the true probability of the outcome. In other words, the bookmaker has underpriced the selection. Finding value is the key to long-term profitable betting. See our value betting guide.
- Vigorish (Vig)
- The commission a bookmaker charges on each bet, built into the odds. Also known as juice, margin, or overround. It's how bookmakers guarantee themselves a profit.
- Void Bet
- A bet that is cancelled and your stake is returned. This can happen for various reasons — a postponed event, a non-runner, or if a rule violation occurs. In accumulators, a void leg is usually treated as a winner at odds of 1.00.
W
▾- Welcome Bonus
- A promotional offer for new customers when they sign up with a bookmaker. Typically a free bet or deposit match (e.g. "Bet £10 Get £30 in Free Bets"). These are the foundation of matched betting.
- Wager
- Another word for a bet. The amount of money you risk on a particular outcome.
- Win Only
- A bet that only pays out if your selection wins. As opposed to each way, where you also get paid if the selection places.
- Withdrawal
- The process of taking money out of your bookmaker account. Most bookmakers offer bank transfer, debit card and e-wallet withdrawals. Processing times vary from instant to several days.
Y
▾- Yankee
- A full cover bet on 4 selections consisting of 11 bets: 6 doubles, 4 trebles and 1 four-fold accumulator. You need at least 2 winners to get any return. See our full cover bets guide.
- Yap
- An informal term sometimes used in horse racing circles referring to fractional odds of 11/10 (decimal 2.10). A relatively uncommon term mostly heard among on-course bookmakers.