Sports Betting Glossary

PlayRight’s complete sports betting glossary – Everything you need to learn before placing your bet!

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.