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It is not to jump into a poll of sports betting without any knowledge about some basic terms and phrases. Novice sports bettors might get puzzled by some many terms that are not usual in real life, and they might make some rookie mistakes if they don’t know what some of the terms mean.
That’s why we decided to make on Betting Terms Glossary for absolute beginners. In this glossary, we will talk about some basic terms, phrases, and synonyms used in sports betting industry so the novice sports bettor and some of the advanced bettors can have all the terms on one place.
We will not make this glossary like others do. Standard glossaries have all terms mixed in A to Z list, and that is not really helpful. We will try to list the terms by groups so it will be much easier to find the right term or phrase for the users.
Betting Terms Explained – Betting Glossary
Bookmaker – also known as sportsbook, bookie, or book. Bookmaker represents an organization who accept bets from the sports bettors. Those are usually fully licensed and regulated organizations. Of course, there are also illegal bookmakers, but we strongly suggest you use legal and licensed bookmakers. Your money and personal data will be safe all the time when you play at the respected and licensed bookmaker. See here Best Bookmaker (Sportsbooks)
Betting Exchange – a place where bettors can place their bets like at bookmaker, but with few differences. At Betting Exchange players don’t play against a bookmaker. They play against each other. Every bettor can buy (back) or sell (lay) specific outcome. Betting Exchanges are popular because they offer better odds and higher margins than regular bookmakers. Read more …
Bettor – is a person who bets on sporting events at bookmaker or betting exchange. The bettor is also known as a player, a gambler and a wagerer.
Odds – the odds or the price represents the probability of an outcome to happen. In plain words, odds show how much money you will earn if you pick the correct outcome of the bet. There are several types of odds. In European countries (except the United Kingdom) the most popular type of the odds is decimal odds. In the United Kingdom most usual are Fractional odds, and in North America, the most popular odds are American odds. Read more …
Stake – the amount of money bettor wants to put on a specific outcome. So the stake represents the amount of the money you are willing to risk in order to bet on an event.
Betting Market Terms
Favorite – is a team or a player that is expected to win the game or the match. Odds on a favorite in sports betting are always lower than 2.00.
Underdog aka Dog – this term represents the team or a player that is expected to lose the game or a match. Odds on an underdog are always higher than 2.00.
Money Line – money line is the primary betting market. To win the Money Line bet, bettor simply must pick the team or a player that will win the game or the match. Money Line is the most straightforward way to bet on sports. Read more …
Asian Handicap – the Asian handicap is the most popular sports betting market in the world. Origin of this market came from Asia (hence the name) but quickly became a worldwide phenomenon. In this form of betting favorite teams are handicapped, so the favorite team needs to cover the Asian line in order for the bettor to win the bet. This betting market is considered to be an advanced way of betting, and it is necessary to know all the rules to bet right. Read more in our comprehensive guide about Asian Handicap
Over/Under – this is the type of the bet where bettor predicts the number of goals (in football) or points (in other sports) that will occur during the game. In this market you don’t pick the winner of the game or the match, you just predict the number of points. There are several exciting betting strategies for this market.
HT/FT – this is the phrase for Half Time / Full Time Betting Market. In this market, you predict both outcomes, of half time and full time in the football game. Odds are higher at this market, but it is harder to predict the correct outcome as there is always a nine possible endings.
Double Chance – the double chance bet is when you take a certain team not to lose the game. In the simple words, you play that your team will either win or the game will end in a draw. Read more …
Draw No Bet (DNB) – a type of the bet where if the game ends in a draw you will get your stake back. The same thing to DNB is the Asian Handicap line +/-0.
BTTS – Both teams to score. In this selection, you bet whether both teams will score the goals in the game or not.
Betting Slip Terms
Single Bet – single bet represents selection on only one event. Betting on single bets are considered the best possible way to make a profit long term. Read more …
Double – when you place two selections in one bet slip. You need to predict correct both picks in order to win the bet.
Treble – when you place three selections in one bet slip. You need to predict all three selections to win the bet.
Accumulator aka Acca aka Combo – four or more selections in one bet slip. In North America this kind of bet is called Parlay.
To be honest, this is just a top of an iceberg. The sports betting is one complex industry and betting on sports is one of the hardest and most stressful jobs you can do.
But if you manage to understand and learn this basic terms and phrases, you are ready to start your sports betting journey. Just remember a few important things. To be successful in sports betting you need to be disciplined and smart. Never bet more than you can afford to lose, and if you feel that you lost control of your betting habits, please ask for help. Betting addiction is dangerous as any other addiction in the world.