Glossary of Betting Terms
Against the Spread
A bet where you try to determine which team will cover the spread; not necessarily which team will win.
Ante Post
It is also possible to place some Horse Racing bet and Football bets weeks, months and sometimes years in advance, eg Next years Euro 2008 competiton or next years Grand National. Such bets are called `ante post`-bets. The term `ante post` comes from the world of horse racing. Making such an ante-post bet can be really successful if during the time it becomes clear that the team backed is increasingly favoured to win.
Asian Handicap
Single handicaps
HALF BALL HANDICAP: Displayed as (-0.5, -0.5) and (+0.5, +0.5)
A (-0.50, -0.50 ) at 1.90 v B (+0.50, +0.50 ) at 1.95
The figure in brackets is the handicap for the game and the next number are the odds expressed in decimal odds format.
This means that team A are an imaginary half a goal behind team B at the start of the match. So If you bet on team A and they win the match, you win your bet. If the match is drawn or team B win you lose your bet. However If you bet on team B and they win or draw the match, you win your bet.
ONE AND ONE HALF BALL HANDICAP: Displayed as ( -1.50, -1.50 ) and ( +1.50 +1.50 )
If you select the team with -1.5 ball handicap ( -1.50, -1.50 ), you win if the team wins the match by two or more goals. If you select the opposition team ( +1.50, +1.50 ) you win if the team wins or draws. You also win if it loses by one goal.
TWO AND A HALF BALL HANDICAP: Displayed as ( -2.50, -2.50 ) and ( +2.50, +2.50 )
If you select the team with the -2.5 ball handicap, (-2.50, -2.50 ) ,you win if they win by three or more goals.
If you select the opposition team with the +2.5 goal handicap, (+2.50, +2.50) , you win if the team wins or draws. You also win if the team loses the match by less than three goals.
LEVEL BALL HANDICAP: Displayed as ( 0.00, 0.00 )
A (0.00, 0.00) at 2.00 v B (0.00, 0.00) at 1.85
Here you win your bet if your selected team wins. If the match is a draw , the difference is no goals between the teams so you are refunded your stake.
ONE BALL HANDICAP: Displayed as (-1.00, -1.00) and (+1.00, +1.00)
If you select the team with the one ball handicap (-1.00, -1.00 ) you win your bet if the team wins by two or more goals ( i.e. 2-0, 3-1, 4-2 etc). If the team wins by one goal ( i.e. 1-0, 2-1, 3-2) the stake is refunded ( pushed ).
If you select the opposition team ( +1.00, +1.00 ) you win if the team wins or draws the match. If it loses by one goal the stake is refunded (pushed).
TWO BALL HANDICAP: Displayed on the website as ( -2.00, -2.00 ) and (+2.00 , +2.00)
If you select the team with the -2.00 handicap, ( -2.00, -2.00 ) , you win if they win by three or more goals. If they win by two goals the stake is refunded. If you select the opposition team with the +2.00 handicap, ( +2.00, +2.00 ), then you win if the team wins or draws. You also win if they lose by one goal. If they lose by two goals your stake is refunded, ( pushed ).
Double handicaps
In double handicap betting the wager is split in two.
For example:
Team A ( -0.5, -1.00 ) at 1.90 v Team B ( +0.5, +01.0 ) at 1.95. In this example half the bet is placed on team A minus half a goal and the other half on team A minus 1 goal. The result of the bet is worked out using the system as described above.
LEVEL / HALF DOUBLE HANDICAP: displayed as ( 0.00, -0.50 ) and ( +0.00, +0.50 )
If you select the (0.00, -0.50) handicapped team you win if the team wins by one goal or more. If it draws you lose 50 per cent of the stake. If you select the opposition (0.00, +0.50) team you win if the team wins the match. If it draws you win the half the bet ie the half the stake, multiplied by the odds of the bet. However the other half of the bet is a push and you receive this half of the the stake money back.
HALF / ONE DOUBLE HANDICAP: Displayed as (-0.50, -1.00 ) and (+0.50, +1.00)
If you select the (-0.50, -1.00) handicapped team, you win if the team wins the match by two or more goals. If the team wins by one goal you win half the bet at the odds and the other half is a push and that half of the stake is refunded. If you select the opposition (+0.50, +1.00) team you win if the team wins or draws the match. If it loses by one goal, you lose 50% of the amount staked.
The above principles then apply for any further Double handicaps such as
ONE / ONE AND ONE HALF DOUBLE HANDICAP: (- 1.00, -1.50), and (+1.00, +1.50)
ONE AND ONE HALF/ TWO DOUBLE HANDICAP; (-1.50, -2.00 ) and (+1.50, +2.00).
Arbitrage / Arb
Where a variation in odds available allows a punter to back all possible outcomes and still guarantee a win.
Back
To back a team, horse or outcome is to bet on the that selection to win. Traditionally this is the only bet at bookmakers, but online betting exchanges now allow the punter to oppose or lay an outcome.
Bar
This shows what the lowest odds of horses not mentioned in the betting forecast are likely to be - `50-1 bar` means those not quoted are 50-1 or bigger.
Banker
A selection that is fancied very, very strongly indeed. It will often be the cornerstone of combination bets.
Betting Exchange
Unlike a bookmaker who sets and offers the odds or prices, a betting exchange allows bettors to select or offer their own prices and matches the bets accordingly. The site takes a proportion of all winning bets but the odds available are generally higher than standard bookmakers, even after the commission charged.
Dutch / Dutching
Backing more than one outcome in a single event, normally at variable stakes (according to the odds) to give an equal profit whichever selection is successful.
Each Way
A bet placed on any selection involving two bets, one to win and one to be placed (normally top 3 or 4 places, depending on the number of entrants).
Favorite
The team, Horse or individual the bookies rate most likely to win the event they are betting on.
First Goalscorer
A bet placed on a player to score the first goal in the event.
First half bet
A bet placed solely on the first half of a game.
Fold
A fold represents the number of selections in an accumulator, i.e a Four-Fold Accumulator consists of 1 bet involving 4 selections in different events. All must be successful to get a return.
Forecast
To predict the first two horses in a race. The horses must finish in the order you predict for your bet to win. See also reverse forecast, where you cover first and second either way round.
Form
Form rates how a team or horse is currently performing.
Half time bet
A bet placed on the half time result.
Half time Result
A bet that involves the Punter correctly predicting the result of a match at half time.
Hedge / Hedging
To Back & Lay the same single outcome in an event, using odds and stakes to guarantee a profit whether the selection wins or loses, or to cut losses.
Lay
To lay a bet is to oppose an outcome.
Odds On (Favourite)
A bet where the odds are less than evens (or 2.0 decimal).
Over-broke
Where the odds at an event add up to less than 100%. This means that you can back all possibilities and still make a profit. Arbitrage.
Over-round
A betting book should be 100%, so a toss of a coin would be even money heads, even money tails. However the bookmakers` profit margins mean the figure is usually above 100%. In cases where it is less this is referred to as `over-round`
Parlay
Alternative term (American) for an Accumulator.
Permutations or Perms
There is a way to find 7 bets from only 3 selections, making use of what have incorrectly become known as permutations or perms. Consider the following 3 selections: Blackburn to beat Sheff Utd, evens Man Utd to beat Liverpool, 6/4 Arsenal to beat Tottenham 5/4 First off, each selection can be taken as a single match bet. Secondly, there is one treble available at odds of 11.25, calculated by multiplying together the odds for each of the 3 singles (2 x 2.5 x 2.25). However, there are also 3 doubles available too, by "perming" any 2 games from the 3 selections. Such a series of bets is commonly known as a `Patent`, or a `Trixie` if the singles are left out leaving only 4 bets. The greater the number of selections to choose from, the greater the number of combinations available. Combinations are not, of course, restricted to doubles. If we wish to choose from 4 matches, there are 6 combinations of doubles and 4 combinations of trebles available, in addition to 1 fourfold and 4 singles. See our table below:
Number Of Bets All permutations All excl singles Accumulator only
1 Single Single Single
2 All Double Double
3 Patent Trixie Treble
4 Lucky 15 Yankee 4-Fold
5 Lucky 31 Canadian / Super Yankee 5-Fold
6 Lucky 63 Heinz 6-Fold
7 All Super Heinz 7-Fold
8 All Goliath 8-Fold
Pony
Bookmakers slang for £25.
Price
Betting or gambling odds.
Punter
The individual who puts on a bet.
Roll-up
Another term for an Accumulator.
Runner
Somebody who places bets for another person ie Bookies Runner.
Single
A single bet on one outcome in one event.
Tic-tac
The `sign language` with which bookmakers on the racing course communicate, you might have seen pro pundit John Mccririck use this on TV
Wager
Another name for a bet. |
