Sports Betting Glossary: A-to-Z Guide to Betting Terms & Jargon Explained

If the fight took place 5 times, the odds imply that the wrestler would win it once. Bookmaker/BookieA person or organization that takes betting money (action) on the end result of an event. A step-by-step guide to the best deposit methods available to UK players, how to cash out quickly and a list of secure online betting sites.

Sports Betting Terms: Gambling 101 Glossary

  • Estimated returns or dividends for successful bets are available beforehand, but the actual amounts to be paid out are only finalised after the race when all the money has been put in.
  • Over/under – a bet on how many points or goals will be scored in a sporting event.
  • Smart bettors look for wagers with positive EV to consistently gain an edge over sportsbooks.
  • Exotic – A type of bet that is more complex than a standard bet.

When a selection ‘places’ it finishes within the positions that are stated to pay out in the place terms of the race. A small number of runners might mean only the first two finishers place, whereas in a big field down to fifth or sixth might be considered a place finish. If a selection is regarded as almost certain to win it will be referred to as ‘nailed on’.

What is a betting stake?

Although unlicensed or offshore websites could have alluring promos, they lack the same fair chances and legal protections. Also called the “juice,” this is the sportsbook’s cut built into the odds. For example, both sides of a spread might be listed at -110, with that extra $10 per $100 bet being the vig. Decimal odds is a way of pricing up a selection using a decimal number to represent its price. Bettors work out their winnings by multiplying the decimal odds by their stake. The opposite of an over bet, an under is a wager on the prediction that the combined points of two competitors will be less than the figure set by the sportsbook.

Same Game Parlays

Arbitrage/Arb – You place bets on all possible outcomes of an event with different bookmakers, ensuring a guaranteed profit no matter what happens. Learn more about arbitrage betting by reading our article explaining all you need to know about 888sport login this popular strategy. Discover more about arbitrage betting in our post explaining everything you need to know. Prop/Proposition BetA bet which is not placed on win/loss of a sporting event but rather on specific events. For example, a prop bet is when one bet’s on the jersey colour that would be worn by Roger Federer on winning the US open. Another example of a prop bet is betting on who will win Best Song at the Grammys.

Free bet – free bets refer to betting bonuses that bettors receive as an incentive for being loyal or making a deposit. A free bet gives you a fixed amount of money that you can use to make wagers. Fractional odds – bettors are often required to calculate probabilities of wagers coming in, and fractional odds is the term often used in racebooks as one of the three main formats used for presenting odds in the UK. Fold – bettors use this term when referring to a single wager, placed on several selections they choose. However, the problem with fold bets is that every single selection must win for a wager to be successful.