Betting Terms Explained

A-H

  • Accumulator – this term refers to the collective bet that features two or more bets in a single bet slip.
  • Ante-post – this relates to the early market bets offered before the competition begins.
  • Betting Line – refers to the odds on a match that determine the favourites and the underdog in a tie.
  • Buy points – this bet entails paying more than what the sportsbook’s predetermined to move the point spread to a custom betting line.
  • Chalk – the team pegged as the favourites to win.
  • Cover – this reflects the scenario in which the favourite team wins the match by a bigger margin than described in the handicap or spread bet.
  • Double bet – also known as doubling up, when a player wagers twice the value of the bet to take advantage of the odds.
  • Draw – when a match ends in a tie after regulation time.
  • Edge – relates to the advantage that a bettor has from having knowledge about how the result will go.
  • Exposure – refers to the value attached to a potential loss in a match.
  • Favourite – this is the individual or the team that is perceived to have the best chance to win the match.
  • Future – this refers to wagers on the winner of the competition before the event begins.
  • Grand Salami – this refers to the bet on the total number of goals that will be scored in all the games in a single league round of matches.
  • Handicap – this refers to the point margin given to the underdog in a match that is intended to level the playing field.
  • Hedging – this refers to placing a bet on the opposite side after having placed a wager on a different side to ensure that you do not lose.

I-W

  • In-play betting – the process of placing bets on the outcome of the game after it has already started playing. It is also known as live betting.
  • Juice – this is the portion that the sportsbook charge for the allowing players to bet online.
  • Limit – reflects the maximum bet that is allowed on a specific line.
  • Lock – a situation in which a selected bet is considered an obvious win.
  • Money Line – refers to a wager on the outcome of the game to be either win, lose or draw.
  • Odds – indicates the probability of the outcome of a match.
  • Outright bet – betting on the winner of a tournament.
  • Pari-mutuel – this refers to a wager amongst bettors as opposed to against a sportsbook.
  • Parlay – the process in which the betting calculator adds extra bets onto a single bet slip to improve the odds.
  • Stake – to risk your money wagering on a sports event.
  • Teaser – a specific selection of parlay bets that are combined in a single ticket to attract players to wager online.
  • Total – the aggregate amount of goals or points in a match in which bettors predict the match will end. It is also known as the betting terms over-under.
  • Underdog – the team or player pegged the less likely to win in a tie.
  • Wiseguy – a term used to refer to a well-informed or knowledgeable bettor or handicapper.