Get The Knowledge You Need With Our A-Z In Depth Betting Terms Glossary
Sometimes the range of terms used in the betting industry can be confusing for punters. It is important to have a full understanding of all of these terms and on this page, we will hopefully help you get your head around all the most important betting terms. In our extensive betting terms glossary, we have compiled an A-Z list of commonly used terminology. From Alphabet bets to Yankees and everything in between, if you want to know more about the key betting terms you are in the right place. Keep on reading to get informed.
1X2 betting is available in sports where a draw or tie is a possible outcome. Also known as match betting, you can bet on one of three different outcomes. If you bet on ‘1’ you are betting on the home team to win. ‘X’ represents the draw while a wager on ‘2’ requires the away team to win for you to get a return.
Soccer and rugby are the sports where 1X2 betting markets are most common. Be careful though, as in knockout competitions where extra time is a possibility, 1X2 bets only count for the result after 90 minutes. If you back the home team (1) and they win after extra time, your bet will be returned as a loser.
Accumulators, also known as Acca bets, are where punters combine a number of selections in a bet. If a footy accumulator has four legs it is known as a 4-fold, if it has five legs it is a 5-fold and so on. Selections can be combined across different sports and markets.
No matter how many selections you combine in an acca, you need EVERY leg to win in order for your wager to be a winner. This makes accas an extremely risky bet, as the more legs you include the higher the chance is that one leg will let you down. Watch out for acca boost and acca insurance specials from the likes of Paddy Power and Netbet.
The Alphabet Bet earned its name from the fact it contains a total of 26 wagers, the same number of letters there is in the English Alphabet. It is made up of four different multiple bets and a total of six selections. Two patents with 7 bets contained in each, a Yankee which has 11 bets and an Accumulator which consists of just one bet.
If all six of your selections win, chances are you will be in for a monster payout. You can see from the table below how your selections are split up when you place an Alphabet Bet. And you can find out more about Patents, Yankees and Accas in our dedicated sections on this page.
How Does An Alphabet Bet Work?
Selections In Bet
Total No. Of Bets
Leg 1, Leg 2, Leg 3
Leg 4, Leg 5, Leg 6
Leg 2, Leg 3, Leg 4, Leg 5.
All 6 Legs
An Ante-Post bet is a bet placed on an event in the future, most commonly on horse racing. Ante-post punters place long range bets well in advance of the start of an event. Odds are usually very generous for ante-post bets if you get it right, but there is a lot of risk involved. If you back a horse ante-post and it doesn’t run, you will lose your stake. Alternatively, if you back a football team ante-post for the World Cup and they don’t qualify, you will wave goodbye to your stake due to ante-post rules.
You can back win or each way ante-post and whatever terms apply when you place your bet will stand when the race is run. For example, if you back a horse e/w for the 2000 Guineas for 4 places @ 1/5 odds and on the day only 10 horses run, you will still get paid out on 4 places each way rather than the usual 3 places for a field of that size.
Arb betting is a way of wagering that ensures that you turn a profit, no matter what the result. Arbitrage betting requires you to place bets on one match and usually with different bookies, taking advantage of discrepancies in odds. This is not an activity we encourage at Sportsbetting24, and most bookies frown upon the practice too.
It can be possible to place and lay bets that will ensure you make a profit, no matter what the outcome of the result. Don’t be fooled though, arb betting can require a lot of effort for usually modest profits and if bookmakers realise you are arbitrage betting, your account probably won’t last very long.
The Asian Handicap is most commonly encountered when you are betting on soccer matches. Asian Handicap betting gives punters an even better chance to win than regular handicap bets. The difference between handicap and Asian handicap betting is that with Asian Handicaps, there is no draw outcome.
When the Asian Handicap is ‘0’ that means that the teams are evenly matched and to win your bet the team you back has to be victorious. However, it is a lot more common to have Asian Handicaps of 0.25, 0.50 or 0.75. As an example, if you back Liverpool -0.25 in the Asian Handicap and the match finishes as a draw, you get half your stake back. If they win, you win your bet.
If you back a team + 0.5 in the Asian Handicap, if they win or draw you get paid as a winner. However, if you back the other team at -0.5, only a win will do. Backing a team + or – 0.75 is a bit more complicated. If you back a team -0.75 you need them to win by 2 goals to get fully paid. A 1 goal win would see half your stake returned and the other half paid as a win. The opposite applies if you back a team +0.75 (if they lose by a goal, you get paid out on half your stake as a win and the rest is returned).
The betting exchange is where punters can bet against each other and it allows you to either back or lay. You can also trade on live events, a very dynamic and exciting way to bet. The company that provides the exchange makes their money via commission, so this is something to take into consideration if you are looking for a betting exchange.
Some of the advantages of using a betting exchange include being able to lay as well as bet and also, odds are often much better than you will find at regular bookmakers. The best-known betting exchange is the Betfair Exchange, and it is probably the best betting exchange site. They also have a solid sportsbook, make sure to check out our in-depth Betfair review.
Betting Permutations, also known as perm bets or combination bets, are extremely popular with punters. You will probably be very familiar with a number of different betting perms, including Lucky 15s, Lucky 31s, Yankees, Trixies, Canadians and Goliath bets.
All perm bets contain multiple selections, but unlike accumulators, you don’t need every leg to win for you to get a return. This makes betting permutations a lot less risky than accas, but as a result, the returns are not as big. You can combine wagers on different sports and markets in betting permutations.
Betting Site / Bookie
An online betting site, or bookie, is where you place bets on sports and other events. In the UK there is a large selection of online bookmakers to choose from and they all have different strengths and weaknesses. You can find out more about them in our in-depth bookie reviews elsewhere on our site.
Things to consider when you are choosing your online betting site include the size of their welcome bonus, range of sports and markets available, quality of odds and the frequency of promotions for existing customers. Also, make sure your betting site of choice holds a licence from a reputable authority.
BTTS / Both Teams To Score
Both teams to score, or BTTS, is a common bet placed by football punters. Sometimes a match can be tough to call and this is where BTTS bets come into their own. If you aren’t sure who is going to win, you can bet on them to score instead. You bet on either yes, both teams will score, or no, both teams won’t score.
You can also combine both teams to score bets with the match result. So, you could bet on a team to win and both teams to score, or you can bet on the draw and both teams to score. If two teams with leaky defences are playing and you fancy one of them to win, backing them to win and BTTS is definitely a viable option.
The Canadian Bet is a perm bet and is also commonly known as a Super Yankee bet. This perm type bet contains 5 selections and 26 different bets. In a Canadian bet you need at least two of your five selections to win in order to get a return. If all five of your legs click, you will likely be in for a big payout.
The Canadian Bet includes a total of 10 Doubles, 10 Trebles, 5 Four-Folds and 1 Five Fold. If you get just one winner, you will get zero money back. Two winners will land you a double and that is it. Three winners gives you three doubles and a treble, four winners results in seven doubles, four trebles and a fourfold. You can also place each way Canadians if each way terms are available for your selections.
Another wager type that is increasing in popularity with football punters is cards bets. You can bet on individual players to get a yellow or red card, but with the Cards Index you can bet on whether the total number of cards will be over or under a certain amount as defined by the bookmaker.
With Paddy Power you can place Cards bets on all the major soccer matches. A yellow card is worth 10 points, while a red card is worth 25 points. If a player is sent off for receiving two yellows, that equals 35 points. You can bet on the under/over and with Paddy Power you can also bet on the exact total of points, for both teams or for either team.
In the past few years, the vast majority of betting sites have introduced a cash out facility. This tool allows punters to cash out bets before the match/race/event they are betting on has concluded. With Betfair Cashout, for example, you can use a slider to partially cash out a bet and leave some of your stake riding on the final result.
Cash out is available for singles, multis, perm bets and accas with most UK online bookies. It has proved to be a big hit with bettors, though we advise caution when it comes to using cash-out. If you decide to cash out too early and your bet ends up winning, you could miss out on big money. So, hold your nerve if you can and try to cash out as late as possible, if at all.
Clean Sheet Betting
Another commonly placed bet on soccer is betting on whether a team will keep a clean sheet. A clean sheet is a term used to describe when a team doesn’t concede a goal. Clean sheet betting can be profitable, particularly if you spot a team that has been defending well. Alternatively, if a team has been goal shy, you can bet on their opponents to keep a clean sheet.
So, where will you find the best Clean Sheet odds? Well, there is no definitive answer to that question. The overwhelming majority of UK betting sites have clean sheet odds and while Bet365 may be best for one match, Unibet could be best for a different match. The only solution is to shop around to make sure you get the best clean sheet odds possible.
A combination bet is basically the same as a perm bet. You are combining selections and unlike an accumulator, you don’t need all your legs to win. This lowers the risk of losing all your stake and with Lucky 15s, 31s and 63s, even one winner will result in a return.
Other popular combination bets include Yankees, Patents and Canadians, all of which we explain in detail on this page. Although the returns from combination bets can be very big (and tempting), the odds are stacked in the bookies favour with these type of bets. The more legs you have, the more likely it is that one or more will lose, so don’t get too ambitious and include too many selections.
A lot of shrewd football punters don’t bother with 1X2, BTTS or any other markets and instead just focus on placing corners bets. With a corner bet, you are betting on the number of corners that will be awarded to either, or both, teams in a soccer match.
You can bet on the exact amount of corners, or alternatively, you can bet on an over/under type corner bet market. The bookie defines a set number of corners, and you place a bet on whether there will be over or under that amount. Asian corner handicap betting is also available, and it works on the same principle as Asian Handicap match betting.
Betting on the correct score market is pretty self-explanatory. This is a popular market for low scoring sports like soccer, tennis, snooker and darts. If you bet on the correct score market, you need to predict the exact final score of an individual match to win your bet. Odds are usually generous for correct score bets, but that is for a reason.
Predicting who is going to even win a match can be tough at times, so predicting not only who will win, but also the precise score they will win by, is a tall order. For tennis matches (best of 5 or best of 3) the task is somewhat easier.
A doubles bet is where you bet on two selections in a combination bet and both have to win for you to get a return. Any number of sports and markets can be combined in double bets, and horse racing punters, in particular, seem to love combining short-priced favourites in doubles bets.
You can also place each way doubles bets on horse racing, a useful wager if you fancy a couple of horses at decent prices. If one horse wins and one horse places, you will only get paid out on the place part of your each way double bet. If both horses come in, you will get the maximum return (win double + e/w double).
Double Chance Bet
The double chance bet gives punters the chance to bet on two of the three possible results in 1X2 football markets. Basically, you can bet on Team A and the Draw (1X), Team B and the draw (2X) or Team A and Team B (12).
If you bet on the first option (1X) then you just need your team to avoid defeat to get paid. The same applies to the 2X option. With the 12 option, you will get paid if either team a or team b wins. However, a draw means you will lose your double chance bet.
Draw No Bet
The Draw no bet option is a way to bet on the 1X2 market but without the X, or the draw. If the team you back wins, you get paid as a winner. If they lose, you lose your stake and if the match finishes as a draw, the bet is voided and you get your original stake back. Draw no bet accumulators are popular, but singles give you more chance of turning a profit long term.
The Draw No Bet option comes in useful when two closely matched teams are playing. In those scenarios, draws can be common and it makes sense to utilise the ‘Draw No Bet’ option in that situation. You may not win as much as if you betted on the windrawwin (1X2) market, but at least if it’s a stalemate you’ll get your stake back.
Dutching is a betting technique where a punter backs more than one selection in an event or race. The punter weighs their stake depending on the odds to ensure the same return no matter which one of their selections win.
There is a formula that can be used to work out the profitability of a Dutch bet (1-R), but a dutching calculator can also be used. Just like with Arbing, Dutching is not a concept that is welcomed by bookmakers. If they realise that any customers are ditching bets, it is likely their account will be closed.
Each Way Bet
An each way bet is a bet placed on both the win and place markets of an event or race. When you place an each way bet your stake is split. Half goes on the win market, while the other half goes on the place. So, if you are placing a £10 each way bet at 10/1, the total stake invested will be £20. Your returns on the place market will depend on the each way terms. You get paid out on both parts if your selection wins, while a place will result in you losing the win part of the bet.
In horse racing it is usually either 1/4 or 1/5 odds for 1, 2, 3 or 4 places depending on the amount of horses in the race and the racy type. For big races like the Grand National, bookmakers like Paddy Power and Unibet often have extra places available for each way bets. You can also bet each way on outright markets in many other sports, including football, golf, tennis and lots more. Use an each way bet calculator if you are unsure about working out the returns on an each way bet yourself.
Punters should always keep their eyes peeled for the latest enhanced odds offer. When a bookie enhances your odds, you will be getting a better price than the betting site would usually offer. Many enhanced odds offers are part of sign up bonuses, but usually stakes are limited to very small amounts.
A number of betting sites, including Betfair, offer customers the chance to offer enhanced odds on one or a number of bets every day. Be very selective when using these odds boost offers. You should try and take maximum advantage of enhanced odds opportunities when they present themselves. It can make a massive difference to your profits in the long run.
If you place a bet on something at even odds, you are risking winning or losing the same sum of money. In other words, you double your money if you win, and you lose your money if your bet is a loser.
In fractional terms, even odds are expressed as 1/1 and in decimal terms, 2.0 represents an evens odds bet. So, if you place a £20 bet on Liverpool to beat Spurs at even money and they win, you will get £40 back (£20 profit + £20 stake). If Liverpool lose, you will be down £20.
When bookies compile odds for a match, race or tournament the shortest priced team/horse/player is known as the betting favourite. According to the bookie, the favourite for a given event is the most likely winner. Thus, the shorter odds reflect the theoretical chance of a team/horse/player on all known form and stats.
A winning favourite bet will not produce as much profit as a winning bet placed on an underdog. Sometimes favourites can be under-priced for a variety of reasons, and in this scenario it can pay to oppose a market leader. Betting on favourites can be profitable, but losses are possible too so tread carefully and choose your favourite bets wisely.
Player markets are popular for football and one of the key markets for punters and bookies alike is the first goalscorer market. You can bet on the overall first goalscorer in a match, and also on the first goalscorer for individual teams. As the name suggests, your player has to score the first goal in order for you to win your bet.
You also have the option of betting on the last goalscorer and also on the anytime goalscorer markets. For the former, your player has to score last, and for the latter your selection must score at any time during the game. With most bookies, own goals don’t count so if the first (or last) goal is an own goal, your bet will still be in play.
For punters serious about making a profit, form is one of the biggest influences on sports betting. Studying the form is an absolute must if you are betting on horse racing, golf, football and a whole host of other sports. Things like recent results/performances, head to head stats and ability to handle prevailing course/track/pitch conditions are all part of the formbook.
In horse racing course form can be absolutely crucial, especially on tricky tracks like Chester or Epsom. The same principle applies to golf, where players can be suited by some courses better than others. In football and other team sports, home form and away form is always worth checking out. Keep your head in the formbook if you want to increase your chances of profiting from sports betting.
Goal Line Betting
A goal line bet is a wager on whether there will be over or under a defined amount of goals scored in a football match. The defined amount (or goal line) is set by the bookies and the punter has to choose whether there will be more or less goals scored than the line. You can also choose an alternative goal line bet with some bookies. This allows you to choose a different line than the one set by the bookmaker.
Goal line betting also applies to other sports. For example, in cricket, you can bet on the run line. This is a wager placed on the total runs scored, and again you bet on whether there will be over or under the line as defined by the betting site. In other sports like basketball and rugby you can bet on the points line total.
So, what’s a Goliath bet? Well, a Goliath Bet is a combination bet that consists of 8 selections. The Goliath bet contains a total of 247 individual bets and you need to find at least two winners to earn a return. If you placed a straight win Goliath Bet for £1, it would cost you £247. An each way £1 Goliath would set you back double that, a cool £494. If all 8 of your selections in a Goliath bet win, you will be in for a huge payday. Check out how the Goliath bet is structured in the table below…
Goliath Bet Structure
Number of Bets
Halftime Bets (Halftime result)
In most sports, when punters bet on a match they are betting on the final result (1X2). However, that isn’t your only option. It is also possible to place a wager on the halftime result. Just like with the 1X2 bet you will bet on either the home team, the draw or the away team. The difference is, your bet is settled on the half time result.
These bets come into their own if you know a team are usually slow starters. Half time bets can also pay if you think a team will hit the ground running and start quickly. You can combine half time result bets in accas and multis, however sticking to singles is a better way to increase your chances of getting a return.
Halftime Fulltime Bet
A Halftime Fulltime bet is a wager placed on the result at half time and full time. A ht/ft bet is placed on the 1X2 result a the end of both halves and it is basically a ‘double’ type bet. In basic terms, you won’t get any returns unless you correctly predict the half time result AND the full-time result.
You can place halftime fulltime bets on a wide range of sports, including soccer, American Football, rugby union and lots of other sports too. Odds are usually pretty generous too for halftime fulltime bets, so if you do manage to land one, you’ll be well rewarded!
Handicap betting is a very popular type of wager used across a wide range of sports. For most match bets, there will be a favourite and an underdog. Handicap betting allows punters to bet on the favourites minus a set number of goals/points/runs depending on the sport. The underdog receives a head start when handicap betting and the odds for both teams/players are adjusted accordingly.
As an example, we will look at handicap betting in soccer. If Liverpool were to play Huddersfield, they would be very short odds in the match betting market. However, you could back them with a handicap of -2 goals to get better odds. You would need them to win by 3 goals or more to win your bet. Alternatively, Huddersfield would be very big odds in the 1X2 market, but you could back them +2 goals at shorter odds. If you bet on Huddersfield in the handicap, you need them to lose by less than 2 goals to win.
The handicapper is a term you will often hear horse racing punters talking about. You might have heard a pundit say that a horse is ‘ahead of the handicapper’, so what does this mean? Well, the handicapper is the person that puts a figure on how well or poorly a horse has run in a race (handicapping). Theoretically, if every horse in a handicap ran to its full ability, they should finish in a dead heat.
If a horse is ahead of the handicapper, that means that the horse still has a bit in hand off the rating awarded after their last run. Alternatively, a badly handicapped horse is one that will struggle to win off its current rating. A well-handicapped horse should always beat a badly handicapped horse, so look out for horses with room to improve off their current ratings when betting on handicaps.
A hedging bet is a wager (or wagers) placed to reduce the risk of a loss and also to guarantee a profit on a certain event, no matter what the final outcome. Hedging bets are usually placed on different results than your original wager and hedging can also involve placing lay bets if the odds of your original bet shorten.
Betting exchanges have made hedging bets much easier than it was in the past for punters. There are similarities to Arbing, though Arbitrage betting relies on finding discrepancies in odds whereas hedging relies on the punter taking advantage of movements in odds. If you hedge your bets it is a great way to minimise losses, though it will have an adverse effect on overall profits.
The Heinz Bet is a combination wager from the same family as Yankee bets. The Heinz Bet contains 57 separate wagers and it is named after the food company, who are known for their 57 varieties. The Heinz Bet requires you to pick six selections and you need a minimum of two winners to guarantee a return. The table below shows how a Heinz Bet works…
No. Of Bets
Six Fold (acca)
In Play Betting
In play betting, also commonly known as live betting, is betting on an event after it has already started. The vast majority of UK bookies offer in play betting via their live betting suites. In play betting is now available across a huge range of sports. Once a sporting event is televised, chances are you will be able to bet in play on it.
Live odds update regularly on in play betting sites and it is important to choose a site with quick and reliable software. Bet365 and Betfair are worth checking out for live in play betting and they have streaming of a large range of sports too. In play betting is an exciting and dynamic way to wager and can really enhance the excitement of watching sports live.
On the vast majority of betting sites you can only back selections to win. The bookie is the layer and that is one of the reasons why they say the bookie always wins. However, thanks to betting exchanges, punters can now try their hand at playing the bookmaker’s game. You can bet and lay on the Betfair exchange.
Lay betting is essentially wagering on a team/horse/player to lose. If you ‘back’ a horse on the exchange you are betting on it to win the race. If you ‘lay’ a horse you are essentially betting on all other horses in the field, so once your lay selection loses, you win your bet. As anyone who bets knows, picking losers is easier than picking winners, so lay betting is well worth trying out.
Live streaming of sports is a service now offered by a lot of UK bookies. Live streaming is a facility provided by online betting sites that enables them to stream live sports via the bookie’s desktop or mobile sites. If you want to live stream sports, it is worth opening an account with Bet365.
They not only have an excellent range of sports available for live streaming, for some events you don’t even need to have a bet to access live streaming. You only need to have an account with a positive balance to stream a huge range of events live, including snooker, soccer and basketball. If you want access to a top quality sports stream, sign up with Bet365 now.
Long Shot Bet
A long shot bet is a wager placed on a selection at big odds (10/1 or bigger) and it is a betting term usually associated with horse racing, though it can be used for other sports bets too. Long shots are betting outsiders and are given little to no chance by the bookies. However, in horse racing especially, long shots win a lot more often than you might think.
In fact, an argument can be made that it is easier to make a profit from backing long shots each way than by backing favourites to win. When backing long shots you can keep stakes small so losses are minimal. Also, when you manage to pick out a horse racing long shot winner the profits are huge, while even landing an each way place generates a decent return.
Lucky 15 Bet
A lucky 15 bet is a four selection combination wager that is very popular with punters, especially for horse racing. This bet contains 15 separate wagers, including 4 single bets, 6 doubles, 4 trebles and an accumulator. For maximum returns, you need all four of your selections to win. However, even one winner will get you some money back. A lucky 15 bet calculator can be used to work out winnings if you place a winning Lucky 15 bet.
Lucky 15s are often the subject of bonus offers from bookmakers. For example, they might offer treble the odds if you only pick one winner. Or, you might get a % boost to your profits if you manage to pick 4/4 winners. Lucky 15s can also be utilised for loads of other sports and it is also possible to place each way Lucky 15s. A £1 win Lucky 15 costs £15, while a £1 e/w Lucky 15 will set you back £30.
Match Betting is very similar to 1X2 betting. When you place a match bet you are betting on the final result of a match. Match betting is available across a wide range of sports, including but not limited to soccer, rugby, tennis, ice hockey, American football, cricket and basketball. Depending on the sport there will be two or three options in the match betting market.
For matches where a draw is a possible result, you can bet on either team or the draw in the match betting market. For sports like American football or basketball, you can only bet on either team to win. Tied games go to overtime and match bets are settled on the final result once overtime is completed. For soccer matches, match bets are settled on the result after 90 minutes and extra time doesn’t count.[select_bonuses object=”134″ bonus=”1565″]
A multiple bet is a bet that contains more than one selection. When you place a multiple bet there is no margin for error. Every leg of your multiple bet has to win in order for you to get a return. It is possible to place both win multiples and each way multiple bets.
Doubles, trebles and accumulators with more than three selections are all examples of multiple bets. A double has two selections, a treble has three selections while an accumulator can contain as many selections as you want. Multiple bets can be placed across different sports and footy accumulators are very popular with punters.
So, what is the meaning of a NAP betting tip? Well, horse racing tipsters use this betting term regularly. In simple terms, a horse racing NAP bet or tip is the best bet on the card in the opinion of a tipster. What does NAP mean? The term originates from the card game ‘Napoleon’ where the strongest hand is known as Napoleon and tipsters shorten it to NAP.
Next Best Bet
The Next Best Bet, or NB, is the second strongest bet on the card in the opinion of a tipster. The NAP is their strongest selection, while the NB bet, or Next Best Bet, is the one they think has the second best chance. Make sure to do some research before following a tipster’s horse racing NAPs or NB bets blindly, as some tipsters are a lot more successful than others.
A non-runner is a betting term used in horse racing. It describes when a horse has been declared to run in a race, but then is withdrawn before the race begins. The reasons for a horse racing non-runners can vary, but most importantly if you bet on a non-runner, you will get your money back.
Non-runners can also have a major effect on starting prices, particularly if they were near the head of the market when they were withdrawn. If you take a price on a horse early, and a horse that is priced up at 14/1 or less is taken out, your bet will face a deduction known as a Rule 4. The size of the rule 4 depends on the price of the non-runner. You can find out more about Rule 4s in our dedication section on this page.
The odds determine how much you will get paid if you back a winner. The shorter the odds, the less your profit will be, while the longer the betting odds, the bigger your returns will be. If you are serious about making a profit from betting, finding the best odds is absolutely crucial.
Odds can vary for the same events quite dramatically between betting sites, so shopping around should be a priority. At shorter odds, the difference between backing a winner at 11/10 and 5/4 may seem negligible. However, in the long run, not taking the best odds (5/4) would reduce your total profits by almost 7%.
Odds against is a betting term used to describe a wager placed at odds at greater than evens (1/1). When you place an odds-against bet you will be guaranteed to win more than the sum of your original stake if your wager is a winner. If you can find winners against the odds regularly, you won’t be long in making a profit.
An odds line bet is basically the same as a handicap bet and the term is associated mostly with American sports. The NFL lines and NBA lines allow you to back teams either + or – an amount of points set by the betting site. The underdog receives a head start, while the betting favourite will start minus the set number or points.
If you bet on the underdog +4 points, they need to lose by less than 4 points or win for you to win your bet. If you back the favourite in the odds line -4 points, they need to win by more than 4 points for your bet to be a winner. The money line is also a common term and this is used to describe straight match betting on American sports where betting on the draw is not an option.
An odds on wager is a bet placed at less than even money (1/1, 2.0). If you place a winning odds on bet, you will win less than your original stake. For example, if you place a £50 winning wager on an odds on shot at 4/5 and it wins, you will get £90 back including your stake (£50 stake + £40 profit). Just as with odds against bets, make sure to find the very best price to ensure maximum returns.
On The Nose
This is another betting term closely associated with betting on horse racing and greyhound racing. An ‘On The Nose’ bet is a bet on a horse or dog to win the race. When a horse or dog wins a race, their nose is the first part of their body to cross the winning line. So, if you are betting on the nose only a win will do.
Outright bets are usually placed on sporting events before they start. However, lots of UK bookies are now offering in-play outright betting during sporting events. When you place an outright bet you are betting on a team or player to win a tournament or competition outright. Taking Premier League outright odds is very popular with punters around the globe.
An outright win bet requires your selection to be victorious in order for you to get a return. You can also place each way outright bets. The each way terms will depend on the sport and size of the field. In the US Open Golf, for example, William Hill paid out on 7 places each way at 1/5 odds for outright each way bets.
An outsider bet is a wager placed at big odds on an underdog or long shot. You can bet on outsiders in all sports, but the betting term is probably most closely associated with horse racing. Outsiders are usually written off by the bookies and for us, an outsider is a horse priced up at 10/1 or bigger. Picking winning outsider bets is not easy, but picking outsiders with a place chance is plausible.
If you are going down the route of placing bets on outsiders, each way wagers are the way forward. For example, £10 outside each way bet at 12/1 (1/4 odds) that places will generate a profit of £20. That is the same profit you would earn from betting the same stake on an even money shot. However, if your outside bet wins, you will earn a massive profit of £150. Most punters concentrate on shorter prices, but it is more than possible to make a profit from outside bets too.
Over Under Bet
Over under betting is a type of wager that can be placed on a wide range of sports and markets. To explain this betting term it is best to look at an example. In football, over under bets can be placed on a number of different markets. Most commonly, over under bets are placed on the total amount of goals, though you can also place over under bets on the number of cards and corners.
The betting site sets a line of 2.5 goals for a match and the punter has to bet on whether there will be more (over) or less (under) than 2.5 goals scored. If you bet on the over, there has to be at least three goals scored for you to win. Betting on the under requires both teams to score two goals or less between them. The same principle applies for over under wagers across all sports.
The over round is basically the profit margin that bookies operate on. The over round is worked out as a percentage and it can be a good indicator of whether you are getting value when you place a bet. The higher the overround is, the better it is for the bookie. The following formula works out the overround for 1X2 markets: (1/Home Odds) *100 + (1/Away Odds) *100 + (1/Draw Odds) *100 = Overround.
As an example, we looked at the 1X2 market for the Copa America match between Venezuela v Peru. Bet365 had Venezuela at 3.10, Peru at 2.45 and the Draw at 3.0. Using the formula above, you can see that the overround for this match was 106.41%. With William Hill, it was 105.88%, so if you were having a bet on this match then you would get better value with William Hill.
A parlay is a commonly used term when betting on US sports in particular. A parlay is a very similar wager to an accumulator. You must have at least two selections to place a parlay bet and every selection must win to generate maximum returns. The difference between a regular accumulator and a parlay is that if a match finishes as a tie, that leg is ‘pushed’ and is rendered void. If all the other legs win, you will get paid minus the drawn or tied leg.
A Patent Bet is a three selection wager that is structured very similarly to a Trixie. The Patent Bet contains seven separate bets. However, while you need to land two winners to get a return on a Trixie bet, you only need to land one winner to get something back when you place a patent. The major difference between a Patent Bet and a Trixie bet is that the Patent bet includes 3 single bets on all your selections. Below you can see the difference between a Patent Bet and a Trixie Bet.
The points line is the total number of points that a betting site sets as the most likely amount that will separate two teams in a match. Punters then bet on whether either team will cover the line (or spread). If two closely matched teams are playing, the point spread might only be 2.5 or 3.5 points in one team’s favour.
If you bet on the spread line, you will need the team you bet on to cover the ‘spread’ or line set by the bookies. So, if you back the NY Giants +3.5 points against the Philadelphia Eagles, they need to lose by less then 3 points (or win) for you to collect. The opposite applies if you bet on the Eagles, they need to win by 4 points or more to cover the spread.
Price boosts are enhanced odds offered by bookies, usually to try and tempt punters into signing up. However, some betting sites are now giving existing customers the chance to boost the price of any bets they choose.
William Hill and Betfair, for example, have a price boost feature where customers can increase the odds of a certain amount of wagers every day. Beware of price boost sign up offers though, as stakes are usually restricted and wagering requirements apply to any winnings accrued.
Round Robin Bet
A Round Robin bet is a parlay type of bet with 3 selections and it contains ten separate bets. The Round Robin wager has 3 doubles, a treble and 3 up and down singles (6 bets). The main difference between a Round Robin Bet and a Parlay is that if one leg lets you down, with a Round Robin Bet you will still get a return.
An up and down single pairs bet is pretty complicated. Each one consists of 2 bets. The first part of the bet rides on selection 1, and the amount that goes on selection 2 depends on whether selection 1 wins. The second part of an up and down bet works the same except in reverse, so the first part rides on selection 2 and selection 1 is backed if sufficient cash is left from the bet on selection 2.
The Rule 4 is when a bookmaker makes a deduction from a winning bet if there is a non runner declared after the bet has been placed. The Rule 4 is only applied if the non-runner is priced up at 14/1 or shorter. The size of the Rule 4 deduction directly correlates with the price of the horse that has been withdrawn. The smallest Rule 4 is 5p per £1 for non-runners priced between 10/1 and 14/1. The biggest rule 4 that can be applied is 90p per £1 and that applies when the non-runner is priced at 1/9 or shorter.
The run line is a betting term most closely associated with Major League Baseball (MLB) betting. The run line is basically a way of handicapping the betting favourite or giving the underdogs a head start. Run lines are very useful when two teams with very different levels of ability face off. Money line odds might be very skinny for the better team, but you can get decent odds by backing them – runs on the run line market instead.
In MLB betting the run line is usually 1.5 or 2.5, depending on how closely teams are matched. So, if you back a team -1.5 runs, they will need to win by 2 runs or more for you to win. If you back a team +2.5 runs you need them to lose by 2 runs or less, or win, for you to collect.
A singles bet is a bet placed on an event that is not part of any multiple or combination bet. This is the simplest form of betting and arguably, single betting is one of the most profitable ways to bet if you can locate value. A single bet consists of one selection and you can place win or each way single bets.
With multiple bets like accas, it takes just one team to let you down and your stake is gone. Single betting allows you to target just one wager and if you get it right, you don’t have to worry about any other teams fluffing their lines and blowing your bet.
Specials bets are wagering opportunities offered by bookmakers on markets that they may not usually have. Special bets could include things like Big Brother odds or other novelty betting events not normally covered by bookmakers.
In sports, bookmakers are well known for offering specials bets on certain games or events. For example, a number of betting sites offered a special bet on the Oaks and Derby. You could get odds on any Aidan O’Brien horse to win both races, and this is a good example of a specials bet.
Spread betting is when you are rewarded for the accuracy of a prediction, rather than just for the prediction itself. Spread betting on sports can be risky though, as losses can mount up quickly if you get it wrong.
As an example, we will look at a cricket match. If the bookie sets the spread for a team’s runs at 300-310, you can buy at 310 if you think they will score more than the spread. If 400 runs are scored, you win your stake multiplied by 90 (the amount over the spread). However, if they score 200 runs you will lose your initial stake multiplied by 100.
Super Heinz Bet
As the name implies, a Super Heinz bet is a bigger version of a regular Heinz Bet. Instead of 57 bets for 6 selections, a Super Heinz contains 120 bets split across 7 selections. The breakdown in bets looks like this; 21 doubles, 35 trebles, 35 four-folds, 21 five folds, , 7 six folds and a seven-leg acca.
You need to pick at least two winners to get a return, while for a max payout all seven of your selections need to win. Super Heinz Football bets are popular, while they are also a hit with horse racing punters.
Super Yankee Bet
A Super Yankee bet is the same as a Yankee except for the fact it contains 5 selections instead of 4. The Super Yankee bet has 10 doubles, 10 trebles, 5 four-folds and a five-fold accumulator. Just like with a normal Yankee bet, punters need to find at least two winning selections to generate a return.
If you only get one winner, you wave goodbye to your stake. A £1 Super Yankee costs £26 to place, while if you go each way you can double that to £52. A Super Yankee Bet is an exciting way to wager, but finding one winner can be difficult, let alone five, so if you are serious about profiting from betting other bets offer more realistic prospects of turning a profit in the long run.
A treble bet is a three leg accumulator and all three selections must win if the punter is to get a return. When you land a treble bet, you will likely be in for a nice windfall. However, trebles are very risky wagers because if one selection lets you down, your bet is lost.
Trebles can be placed on any sports you like and events can be combined. A treble counts as one bet only, while an each way treble counts as two bets. Although the prospect of a tidy profit can be tempting, treble bets are deceptively difficult to land and sticking to singles proves more profitable in the long run.
A Trixie bet is one of the most popular of all wagers with punters. A straight win Trixie bet contains a total of three selections and four separate bets (3 doubles and a treble). So, in order to get a return, you will need two of your three selections to win. Two losers and you lose your stake.
An each way Trixie bet is the exact same with three selections, but it contains 8 bets instead of 4. So, if you were to place a £5 e/w horse racing Trixie it will set you back £40. A £5 win Trixie, on the other hand, costs £20 to place.
Total Goals Betting
Total goals betting, as the name implies, is wagering on the amount of goals that will be scored by one or both teams in a soccer match. The simplest total goals bet is the over/under option. This is where punters bet on whether the total amount of goals will be over or under the line set by the betting site.
For example, if the line is 2.5 goals, you need 3 goals to win in the over market, while 2 goals or less will result in a win for under backers. Some bookies like Paddy Power allow punters to choose alternative lines for shorter or longer odds. You can also bet on the exact number of goals, total goals per team and total goals in a half.
The ability to place a value bet is the difference between losing punters and winning punters. If you consistently find value bets, you will make money in the long run. So, what is a value bet? A value bet is when you secure odds on a selection that are bigger than they should be.
If you place a wager and the odds subsequently shorten significantly, you have placed a value bet. This is a strong position to be in, and layers can lock in a profit simply by laying off the bet at a shorter price. To find value regularly the key is to find an edge on the bookies. It is easier said than done, but if you can manage it you will be in the money before too long.
Win Draw Win
The win draw win market is formed for sports matches where a draw or tie is a possible final result. The most common sports for windrawwin wagers are football and rugby. This market is also more commonly known as the 1X2 market. You can bet on three different outcomes, a home win, a draw and an away win. If you want to keep your football and rugby bets simple, stick to the win draw win markets.
A Yankee bet is a 4 selection wager that consists of a total of 11 bets. The Yankee Bet contains 6 doubles, 4 trebles and a fourfold acca. If you only manage to find one winner, the bet is lost. Two winners results in a modest return, while if you find three winners or more, you should get a tasty payout.
It is possible to place both win Yankee Bets and each way Yankee Bets across a huge selection of sports. A £1 win Yankee costs £11 to place, while a £1 each way Yankee costs £22. Yankee bets are far from easy to land, but when you do get one up the rewards are well worth waiting for.