Betting Glossary | Terms & Definitions (A-Z) (2018 Update)
On this page you’ll find a list of betting terms along with a basic definition. It’s basically a dictionary designed specifically for the betting sphere which you can refer back to as and when you like.
When it comes to the betting world, there are a whole range of betting terms that punters may come across and therefore need to learn. Understanding what these terminologies mean is not only important in improving your general knowledge when it comes to betting, but it should also help you make better betting decisions.
Below you’ll find out betting glossary filtered in alphabetical order. Any betting terms that we’ve created a full guide for on site will be highlighted in blue.
We will continue to update the page with new terminologies so if you come across a term or phrase that isn’t currently in our glossary then feel free to contact us and let us know.
- Accumulator – Also known as a parlay. A single bet that consists of two or more selections and is dependent on all them being successful for a return.
- Ante Post – Bets placed at least a day in advance of the event.
- Back – To bet or wager.
- Backed – A ‘backed’ horse is one on which lots of bets have been placed.
- Banker – A bet that is a ‘sure thing’ or almost certain to win.
- Bar Price – Refers to the minimum odds for any runners in a race that have not been quoted with a price during early betting shows.
- Betting Odds – Also known as price. A bookmakers’ view of the chance of an event occurring.
- Betting Ring – The main area at a racecourse where the bookmakers operate.
- Bismarck – A favourite that the bookmakers do not expect to win.
- Bookings Match Bet – A bet placed on which team will receive more bookings.
- Booking Points – The system bookmakers use for Yellow and Red cards.
- Both Teams to Score – A bet placed on whether both teams will score in a match (Yes/No).
- Both Teams To Score & Win – A bet placed on a team to win where both teams score in the match.
- Bottle – UK slang for odds of 2/1.
- Canadian – Also known as a Super Yankee. A Canadian is a bet consisting of 26 bets with 5 selections in different events. The bet is made up of 10 doubles, 10 trebles, 5 4-folds and one 5-fold.
- Carpet – UK slang for odds of 3/1.
- Corners Match Bet – Betting on which team will have more corners.
- Cash Out – A real-time facility that allows you to cash in a bet before an event has ended.
- Double – A Double bet consists of 2 selections in different events. Both selections must win for a return.
- Draw No Bet – The two options are ‘Home Win’ and ‘Away Win’. If the match ends in a draw then your stake will be returned – thus meaning you neither win nor lose.
- Double Chance – Allows you to cover two of the three possible outcomes in a three-way market.
- Drift – When the price of a selection lengthens (increases).
- Each-Way – A bet consisting of two wagers – the first is for the selection to win and the second is for the selection to place at a proportional price dependant on the place terms.
- Expected Goals – A metric used to assess whether a given shot will result in a goal based on a range of factors and historical data.
- Favourite (Fav) – Also known as the ‘jolly’. The selection considered most likely to win an event and therefore has the lowest odds.
- Fixed Odds – The odds you get if you choose to take a price on a particular selection otherwise it will be settled at the Starting Price (SP).
- First Corner – A bet placed on which team will take the first corner.
- 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 an event.
- Fold – Will be preceded by a number which indicates the number of selections in an accumulator. E.g. 5-Fold = 5 selections.
- Forecast – A bet that involves correctly predicting the 1st and 2nd for a particular event.
- Goliath – A bet consisting of 247 bets involving 8 selections in separate events. The bet includes 28 doubles, 56 trebles, 70 4-folds, 56 5-folds, 28 6-folds, 8 7-folds and an accumulator. A minimum of 2 of your selections must be successful for a return.
- Half Time Result – A bet placed on the half-time result (Win/Draw/Win).
Half Time Score – A bet placed on the half-time score.
Half With Most Goals – A bet placed on which half will see more goals scored.
- Hedge – A bet placed on an opposing outcome to a punter’s original selected outcome in order to guarantee a profit or to cut losses.
- Heinz – A bet consisting of 57 bets involving 6 selections in separate events. The bet includes 15 doubles, 20 trebles, 15 4-folds, 6 5-folds and 1 6-fold.
- Implied Probability – A conversion of traditional odds into a percentage to calculate the ‘true odds‘ of an event occurring.
- Joint-Favourites – When a bookmaker cannot separate two selections which share the shortest price of an event.
- Jolly – Also known as the ‘favourite’. The selection considered most likely to win an event and therefore has the lowest odds.
- Long-Shot – Also known as outsider. A selection that is not expected to win.
- Luck 15 – A bet consisting of 15 bets involving 4 selections in separate events. The bet includes 4 singles, 6 doubles, 4 trebles and 1 4-fold.
- Lucky 31 – A bet consisting of 31 bets involving 5 selections in separate events. The bet includes 5 singles, 10 doubles, 10 trebles, 5 4-folds and 1 5-fold.
- Lucky 63 – A bet consisting of 63 bets involving 6 selections in separate events. The bet includes 6 singles, 15 doubles, 20 trebles, 15 4-folds, 6 5-folds and 1 6-fold.
- Monkey – Slang for £500.
- Minimum Bet – The lowest possible stake you can place on a given market.
- Nap – The selection that a tipster nominates as their strongest bet of the day.
- Odds-Against – Where the odds of a selection are greater than even money (e.g. 5/2).
- Oddsmaker – A person who sets the betting odds.
- Odds-On – Where the odds of a selection are less than even money (e.g. 4/5).
- On The Nose – Betting on a horse ‘To Win’ only.
- Outlay – Also known as stake. The amount of money invested on a particular bet.
- Outsider – Also known as a long-shot. A selection that is not expected to win.
- Over/Under 2.5 Goals – A bet placed on whether a game will contain 3 goals or more or 2 goals or less.
- Patent – A bet consisting of 7 bets involving 3 selections in separate events. The bet includes a single on each selection, 3 doubles and 1 treble.
- Place – A selection that finishes within the specified ‘Place Terms’ for a particular race.
- Placepot – A bet whereby you are required to pick a placed horse in the first 6 races of a meeting.
- Pony – Slang for £25.
- Punt – Another term for bet or wager.
- Stake – Also known as outlay. The amount of money invested on a particular bet.
- Team Clean Sheet – A bet placed on a team not to concede a goal.
- The Gambler’s Fallacy – The mistaken belief that something is less likely or more likely to happen based on past results.
- Tic-Tac – The sign language which UK bookmakers use to communicate with each other on-course.
- Tote – The organisation in the UK set up to operate pool-betting on all racecourses.
- To Win To Nil – A bet placed on a team to win and not to concede a goal.
- To Score In Both Halves – A bet placed on a team to score in the first and second half.
- To Win Either Half – A bet placed on a team to win either half of the match.
- To Win Both Halves – A bet placed on a team to win the first and second half.
- To Win From Behind – A bet placed on a team to win after trailing by at least a goal at some stage.
- Treble – A bet consisting of 3 selections – all must win for the bet to be successful.
- Tricast – A bet which involves correctly predicting the 1st, 2nd and 3rd place in an event.
- Trixie – A bet consisting of 4 bets involving 3 selections in separate events. The bet includes 3 doubles and 1 treble.
- Yankee – A bet consisting of 11 bets involving 4 selections in separate events. The bet includes 6 doubles, 4 trebles and 1 4-fold.