Dictionary for Online Betting – Betting Terminology that all players should know
The more you engage in betting, the more you understand that sports require special knowledge of terms and strategies. Betting terminology has great importance for the player and is a tool that will help them fully understand bets and betting opportunities in a coupon. Below, we will present as comprehensively as possible the betting concepts you will encounter in Irish and international terminology.
1X2: This is simply betting on the outcome of a fixture and is often referred to as match result betting. This means you simply have to predict whether the game finishes as a home win, away win or draw.
1 = home win
X = draw
2 = away win
- Accumulator bet: It is a bet that consists of 2 or more selections on a single bet slip. For an accumulator bet to win, all selections must be settled as won.
- Ante Post bets: This is a longer term bet where bettors trade on the outcome of an event, such as the winner of a tournament, and must wait until the conclusion of the competition in question to see if their bet won or lost.
- Anytime Scorer: A special bet on whether a player will score or not during the match.
- Arbitrage – also known as arbs betting, surebets, miraclebets and surewins. This is a technique in which you place bets with different online betting companies to cover all the outcomes of a sporting event to guarantee yourself a profit.
- Asian Handicap: This is a way of betting that originates in Asia and is mostly used in football. Handicap means that one team has a virtual lead over the other side. Asian handicaps eliminate the chance of a draw in a match, so the possible outcomes are two. A minus symbol (-) is given to the favourite team, which has a handicap disadvantage. A plus symbol (+) is assigned to the underdog team, which has a handicap advantage.
- Asian Goals: It is similar to an Over/Under bet, but the main difference is that Asian goal lines provide options for quarter, half goals, and full goals.
- Back: The most common bet in betting companies. Bet on one of the (favourite) points in the game.
- Bet Builder: With Bet Builder, you can combine different markets of the same match, either live or pre-live, into one bet.
- Betting Exchange: Buy or sell your bets without the intermediation of bookmakers, directly from other players.
- Betting Limit: It is the maximum amount that a sportsbook allows its bettors to wager on a given game or event and it is listed in the terms and conditions of the game.
- BIC/SWIFT Code: A necessary number for completing any financial transaction with bookmakers. It will be requested for withdrawals and deposits through the bank. In bank transactions, you will also be asked for the CVC number which is listed on the back of your card.
- Bonus: Offer from a betting company to attract new players or reward already registered ones.
- Booking Points: It is a special bet in which the player bets on whether the sum of the cards in a game exceeds or not the limit (line) set by the betting platform (Bookmaker).
- Both Teams to Score (BTTS-yes): Both teams need to score at least one goal during the match. The opposite bet is the BTTS-no market where you bet that at least one of the two teams will not score.
- Cash Out: The option to cash out a bet before the match is completed. Cash out can secure you profits if the game’s outcome justifies it, or it can be used to limit losses when things go wrong.
- Chalk: This is a heavy favourite. Strong favourites are typically tied to very low odds.
- Corner betting: This pertains to all betting selections involving the number of corners both in the overall match and in individual periods. Also, there is a distinction to bet on each team’s corners separately.
- Correct Score: This is a market that requires the bettor to select the exact final scoreline in a football match at the end of full-time. The bettor must not only pick the winning outcome; they must also select the exact number of goals that each team will score. Rarely referred to as the final score, it includes extra time, but it would be noted in relevant terms.
- Dead Heat: It refers to a sports event in which two or three participating teams or players, respectively, occupy the same position in the final ranking.
- Decimal Odds: These refer to the European odds used to calculate your profits and are presented in decimal digits. (i.e. 1.50 or 2.10).
- Double Chance: Α bet where you are combining two possible outcomes into one bet. For instance 1X, X2, 12.
- Draw no bet (DNB): Draw no bet allows you to wager either on the “home” or “away” outcome on three-way markets. If there is a tie, you get your entire stake back.
- Each Way: It mainly refers to horse racing betting and consists of two bets of equal cost, The cost is divided into two possibilities depending on the horse’s performance: half the money on the possibility of it finishing first, and the other half on the possibility of it finishing in the first three.
- European Handicap: It is a 3-way Win-Draw-Win bet, where a whole number is placed on the underdog with a positive (+) symbol in order to balance the scales with the favourite; the same number is placed with a minus (-) symbol on the opponent with the most winning chances. The European Handicap operates theoretically the same as the Asian Handicap, but here there is the possibility of a draw, which is calculated as a tie.
- First Goal: This is one of the most popular special bets, in which the player bets on which team will score first. Similar bets exist for the scorer and the minute in which the first goal will be scored.
- First Goalscorer: Special bet on the player who will score first in a match.
- First Goal Minute: A similar special bet to the first goal, in which the player bets on the minute in which the first goal of the match will be scored.
- Fixed Odds: The odds in a match before it kicks off.
- Forecast: This term mainly refers to horse racing. A bet where you predict the first and second-placed finishers in an event in the correct order.
- Fractional Odds: Type of odds mainly used in the UK to calculate your winnings. They are in the form of fractions (1/2, 3/7, etc.).
- Halftime Bet: Type of bet similar to the “traditional” 1X2, with the difference that the bet is placed on what the result will be at halftime of the respective match.
- Halftime/Fulltime: A particularly well-known but risky bet. A bet combining the winner of both the first half and full-time. Two separate bets in one wager with exceptional payouts.
- Head-to-Head: Special bet for the winner between two participants (athlete or team).
- House Edge: The percentage of profit for the bookmaker in each bet.
- IBAS (Independent Betting Adjudication Service): This is an Alternative Dispute Resolution (ADR) service that undertakes to resolve any disputes between players and bookmakers.
- KYC (Know Your Customer): This is the verifying process of a new player’s identity by sending personal documents such as passport, driving license, etc.
- Lay Bet: Betting on an outcome not to happen.
- Live Betting: In-play bet. A popular way of betting where the odds change depending on the progress of the game.
- Livescore: This is a tool that allows players to monitor the progress of a match in real time.
- Live Streaming: This is an interrelated part that complements the Live Betting experience. Players have the ability to watch hundreds of sporting events live.
- Match result: The final outcome of the game that you are betting on. This refers to the result at the end of the regular playing time, without including any extra time if it is predicted.
- Mobile betting: Bet(s) placed by using a remote device such as mobile or tablet.
- Money Line: We can identify it in American odds as the format of ‘+100’, which essentially indicates how much money the player needs to bet to win $100.
- Neteller: This is a digital wallet that facilitates transactions with the bookmaker.
- No Goal (NG): This is the opposite of Goal/Goal. The bet wins if neither team scores a goal.
- Odd(s): The percentage of profit that can be returned to players after a successful prediction. The three main types of betting odds are fractional odds, decimal (European) odds, and money line (American) odds.
- Odd/Even Goals: Betting on whether the total number of goals by both teams in a match will be an odd or even number.
- Over/Under: This is a wager on the final score totaling more or less than what was set by the bookmaker.
- Own Goal: An own goal, also called a self goal, is where a player unintentionally scores a goal for the opposing team. This can occur when a player kicks the ball into their own net in football, for example, usually resulting in points for the opposing team.
- Own Goal Bet: A special bet on whether or not an own goal will be scored in a match.
- PayPal: This is a digital wallet that facilitates transactions with the bookmaker.
- Paysafecard: Prepaid card that facilitates your transactions with the bookmaker.
- Point Spread: Term mainly encountered in American sports and refers to the advantage (goal/point, etc.) given by the bookmaker to one of the two teams/opponents before the start of a match.
- Punter (or Bettor): Mainly refers to players who bet on horse races but in general includes all players who bet on sports events.
- Push: It means that the result of a bet is a tie or the bet is cancelled and the bookmaker refunds the stake.
- Return On Investment (ROI): It indicates the profit or loss out of the initial capital. A simple way to calculate this is the following: Profit = (Wager Returned — Amount Wagered)
- Scorer: Special bets on the player who will score a goal in a match. There are various categories such as First Scorer, Anytime Scorer, Last Scorer, Scorer with 2 or more goals, Hat-Trick Scorer, and so on.
- Scorecast: Here we have a special category where both the scorer of a match and the final result must be predicted. High odds for high-risk bets.
- Single bet: Refer to bettors placing wager on one single outcome of an event.
- Specials: A betting category that includes many wager types other than the basic ones, such as the winner of a match.
- Spread betting: The betting on the advantage provided by the bookmaker in a specific bet, such as the number of corners in soccer or the total points in basketball.
- Stake: It refers to the amount that a player bets on a particular market.
- System Bet: This betting system is slightly similar to accumulator betting with one significant disparity. Unlike accumulator betting, you don’t need all your sports bets to win to make a profit. You just need a few combinations to pan out to earn some money. It offers greater security to the player as it pays out even in case of an incorrect prediction. Depending on the type of system, there are certain requirements that must be met.
- Skrill (former Moneybookers): This is an e-wallet widely accepted by sports and casino players.
- Teaser: This is a type of parlay bet in which the player is allowed to change the point spread of a game for a better chance of winning. Teasers can generate large returns, but they are also risky.
- Three-Way Bet: This is a bet on an event that has three possible outcomes. Ex. football: Team A wins, Team B wins, or Draw.
- Tipster: Someone who gives betting tips, usually for a fee.
- Total Goals: The number of goals scored during the regular/fulltime of a match by both teams.
- Trading: The direct buying or selling of bets among players without the bookmaker interfering.
- Treble: Three selections on the same bet slip from three different events.
- Two-Way Bet: This is a betting market in which there are only two possible outcomes, for example, if you bet on the winner of a basketball game.
- Underdog (or outsider or rag): An underdog is a team or individual expected to lose a given game or event thus you will see higher-paying odds.
- Value Bet: A bet where the likelihood of a given outcome is higher than what the odds offered reflect. Meaning, It is offered at a higher payout than the one that should be offered based on statistics.
- VAR (Video Assistant Referee): This is a match official, with independent access to match footage, who may assist the referee only in the event of a ‘clear and obvious error’ or ‘serious missed incident’. The term may not seem directly related to betting, but since it is incorporated into football, it directly affects several markets and final results.
- Virtual Sports: These are virtual reality games where the player bets on various sports.
- Winning Margin: It is a very common bet in rugby where the player is asked to predict the difference that one of the two teams will by.
- Win to Nil: betting on a team to win to nil, they must win the game and also ensure that they do not concede against their opponents.
- Withdrawal: The process by which a player requests disbursement of funds from their account. The main factors that determine the process are the available withdrawal methods and the completion time of the transaction.
- Yield: This is the ratio of the total winnings to the sum of all bets and represents your betting efficiency.
Betting Terminology is an integral part of the game that will accompany you throughout its duration. However, it is important to bear in mind that the aforementioned terms serve merely as the foundation for a comprehensive betting glossary.