Accumulator - a type of bet that combines the results from a number of fixtures for longer combined odds. Three or more results on a single bet, with all results needed to win on the ticket.
Aces - a bet available in tennis betting, based on the player serving the highest number of aces in a match.
Across the Board - a type of horse racing bet, where the wager backs a horse to win, place or show, with odds shortened accordingly.
Also-Ran - any backed selection not winning, placing or showing in a race, e.g. a fifth place finisher in a horse race.
Any To Come (ATC) - an instruction to automatically invest winnings from one bet into another.
Arbitrage - a discrepancy between odds on an event, usually between two bookmakers, that allows a guaranteed profit on any outcome by backing each side simultaneously.
Bad Beat - an unexpected losing bet, common US terminology for an unanticipated loss on an unexpected result.
Banker - a sure-fire bet, a ‘banker’ is a bet or a ticket gamblers expect will win and deliver a return.
Betting Exchange - a type of betting platform where gamblers bet on either side directly, ‘buying’ and ‘selling’ outcomes for the best odds. Unlike the bookmaker setting the odds, the exchange is a direct betting market.
Book - the totality of a bookmaker’s bets on each side of a sporting event, plus the odds and corresponding calculations for profit on each outcome.
Bookmaker - the person or company accepting bets on sporting events. Also known as the ‘bookie’, ‘Turf Accountant’, or ‘sportsbook’.
Burlington Bertie - humorous slang for odds of 100 to 30, so-called because it rhymes. Used prominently on location at racecourses.
Buy Price - the odds, or price, at which a player must back a selection on a betting exchange or index. Contrast with the sell price, when players want to lay a selection. The gap between the buy price and the sell price is the spread.
Carpet - any odds quoted at 3:1, commonly used UK informal term.
Cash Out - a feature of some online bookmakers allowing early settlement for a guaranteed amount. You can choose whether to settle some bets early, at a live price quoted by the bookmaker to buy you out of the bet.
Chalk - a predominantly US term for the outright favourite in a fixture.
Correct Score - a bet predicting the correct score of an event, for example a football match.
Deposit - an amount of money uploaded to an online betting account, the process of adding money to the bankroll
Double - a joint bet on two separate outcomes, for enhanced odds. Both events must win to come good.
Double Up - increasing the size of your bets to make up for losses, Martingale strategy.
Drift - when odds on an outcome are getting longer, they are drifting.
Each Way - a pair of wagers on first and a place for the backed selection, typically in racing events.
Even Money - a bet that pays 1:1, also known as ‘evens’
Favourite - the shortest odds selection in any event, the market favourite to win.
Fold - the multiple in an accumulator, as in a ‘6-fold accumulator’.
Form - the recent performance of a competitor as a predictor for future outcomes
Free Bet - a free bet offered by the bookmaker as a promotion, a widely used strategy for attracting new players or for specific betting promotions.
French Odds - odds denominated in 100s, based on the metric system. An antiquated method of quoting odds like 100 to 30, 100 to 8.
Goliath - a multi-line bet covering 247 different bets across 8 competitors, often covering a number of sporting events.
Grand - a thousand, as in £1,000.
Half-time Bets - bets on events such as football where you predict the score at half-time, or alternatively the second half score.
Hedge - bookies who bet for the sure favourite to offset their own liabilities, hedging their bets. Or a second bet designed to pay off if your primary bet fails.
In the Money - any runner placing in the top 4 in a racing event, or more broadly any bet that is in a winning position.
Joint Favourite - where two competitors share the shortest odds in any market, with an indistinguishable favourite.
Lay - backing an outcome to fail, an option available on betting exchanges. Betting that an outcome won’t happen, rather than what will happen.
Live Bet - an in-play bet during a sporting event, where live odds are quoted in real time during the event.
Long Odds - odds that reflect an outcome the market thinks is unlikely, the biggest payout for successful bets.
Long Shot - an unlikely bet, hopefully at long odds reflective of its limited chances.
Martingale - a type of betting strategy involving doubling up
Monkey - slang for £500.
Odds - the price quoted by the bookmaker to reflect the chances of any particular outcome, the rate of return offered on different bets, usually expressed as a fraction or a decimal multiplier.
Odds-on - any odds shorter than even money are said to be odds on - 1/10, 4/5.
Overlay - a competitor with a better chance than the odds suggest, e.g. a strong horse with long odds.
Patent - a multiple bet, featuring a treble, three doubles and a single bet on a selection of three outcomes.
Picks - the nominated favourites by industry pundits and tipsters.
Place - finishing in second place, or finishing within a designated threshold depending on the size of the field, short of winning, paid at a fraction of winning odds on an each way bet.
Punter - informal term for a gambler, arch nemesis of the bookie.
Roundabout - a combination bet across three picks in multiple bets, paying enhanced odds.
Short Odds - odds that reflect a likely outcome, very little return on bets. Odds will shorten as a market deems a result more likely, and bets accordingly.
Shortening - odds that are heading closer to evens or below, reflecting a perceived increased likelihood.
Single - any standalone bet on a single outcome.
Smart Money - the bets of those with perceived inside knowledge, who the analysts are backing.
Spread - the gap between the buy and sell price of a bet on a betting exchange.
Spread Betting - a form of sports betting where bets are multiplied by the number of points above or below the market buy or sell price. A bet that pays on a result proportionate to the result.
Sure Thing - a bet that is certain to come good, a very likely result.
Tic-Tac - the series of gestures and signals made by racetrack bookies to communicate odds with punters and other bookies at a distance.
Tip - a hotly favoured runner, the analysts pick.
Treble - a 3-part bet across three outcomes, all of which must win for the bet to succeed.
Trixie - three doubles and a treble bet across three different outcomes, with enhanced odds.
Underdog - an outside runner, or specifically a team with a point handicap.
Value - the best odds available for the position you are backing.
Yankee - an 11-way bet on 4 outcomes, 6 doubles, 4 trebles and a 4-fold bet.
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