Sports Betting Glossary: the must-knows for bettors

sports betting glossary

Welcome to our Sports Betting Glossary. An alphabetised list of some of the common and less common sports betting terms that are in use throughout the sports betting industry.

So whether you are a Gen Z or Millennial confused by some of the older terminology, or a more experienced user wondering what some of these newly coined terms mean, you’ll find it right here!

A

Acca – The shortened form of Accumulator.
Accumulator – An accumulator is a single bet comprising of two or more selections, all of which must win in order for the bet to be a winner. It is commonly called an Acca. Read more: What is an accumulator bet?
American Odds – A format popularised in the United States, hence the name, which describes odds as either a positive or negative number (eg +200 or -200). Negative numbers indicate the size of the stake you need to place to land a profit of 100. So, -200 would mean you need to place a bet of $200 to win $100. Positive numbers show the amount you would win as profit for a bet of $100. For example, +200 odds would mean you would win $200 for a $100 stake.
Ante Post Bet – A bet made, usually on horse racing, well in advance of the race being run. For example, placing a bet on the winner of the Grand National (run in April each year) in August the year beforehand. See also Long Term Bet and Outright Bets.
Asian Handicap Betting – Similar to Handicap Betting, but in Asian Handicap betting, the option for a draw is removed and in some cases fractions of points or goals will be used, meaning your stake is split between two different spreads.

B

Back Bet – A term used to describe any bet where you back an event to happen. For example, Michael van Gerwen to win the World Darts Championship. These bets are the ones made by customers with the vast majority of bookmakers.
Bar – A term used in horse racing or greyhound betting most frequently. It simply means that after the stated odds, all other horses running in the race are at longer odds than the amount stated. For example, if after a list of horses running in a race and their odds, you see 16/1 bar, this means all other runners not shown on the list are odds of at least 16/1 or greater for that race.
Banker Bet – A form of multiple selection bet available with some betting sites which sees multiple selections added to the bet slip and one or more of these selections chosen as Banker bets. These Banker selections must win, alongside one or more of the other selections made in order for the bet to generate a return.
Best Odds Guarantee – A promotion run by many betting sites which means that a punter will be paid out at the highest price between the price they took when they placed the bet, or the starting price.
Bet – A process where a customer stakes money on the outcome of usually a sporting event with a bookmaker and if their prediction is correct, they win money back. There are many different forms of bets available at bookmakers. See Wager.
Bet Builder – A utility on many sports betting websites that allows customers to put together different markets from the same game (or sometimes different games) to make their own accumulator bet.
Bet Credits – See also Free Bets. Bet Credits is cash added to your account by your betting service provider which you can use to bet with, without using your own money.
Bet Slip – The place where you add your bets to online at the betting site and also enter your stake and then click the button to place your bet.
Bookmakers’ Edge – Sometimes called just the “Edge” this is the guaranteed profit a bookmaker ensures themselves by setting the prices for a single betting market.
Boost – Often used alongside Bet (as in Bet Boost). This is an offer where a bookmaker will increase the standard odds on a market to offer the customer a better return than the standard odds.

C

Canadian – A Full Cover Bet comprising of five selections, and which covers 26 separate bets. Also known as a Super Yankee.
Cash Out – An option available on some betting sites where a customer can choose to end a bet before the final result(s) are in and opt to take an amount of money offered by the bookmaker instead.
Combination Forecast – A bet where the customer selects more than two selections in a race, any two of which must come 1st and 2nd to claim a win. The more selections made; the greater number of potential lines need to be covered with the bet.
Combination Tricast - A wager where the customer selects more than three selections in a race, but any three of which must come 1st, 2nd and 3rd to claim a win. The more selections made; the greater number of potential lines need to be covered with the bet.
Coupon – A list of similar sports events which are taking place at a similar time, gathered in one place on a page on the sportsbook to make it easier for betting.
Cryptocurrency – Also known as Crypto. An online currency that has real-world value. Some modern betting sites will now accept deposits, bets and withdrawals using a variety of crypto.

D

Decimal Odds – A format odds are stated in which displays the odds as a decimal number. For example, decimal odds of 3.00 equate to 2/1 fractional odds bet. Can also be known as European Odds.
Deposit – Money that you transfer from a payment method into your bookmaking account.
Deposit Bonus – A promotion or reward a bookmaking site will offer to you for making a deposit into your account, provided it meets certain criteria. Deposit Bonus offers are popular as a Welcome Offer for new customers.
Double (or Win Double) – A form of accumulator that comprises of two selections, both of which must win for the bet to be a winner.
Drifting – When odds on a certain market lengthen over time they are said to drift.

E

Each Way – A which covers two separate bets, a bet on the selection to win and a bet on the selection to finish in the paying places in the event. Many different sporting markets have an each way option alongside their outright winner option.
Each Way Forecast – Also called a Reversed Forecast. This is the same as a Forecast bet only the two selections can finish first and second in the race in any order.
Each Way Odds – The effective odds on the place part of an each way bet, depending on the fraction quoted by the bookmaker. For example, if a bookmaker offers ¼ odds for Each Way bets and you back a 16/1 winner that is placed. Your effective Each Way Odds for the place part of the bet are ¼ of 16/1, which is 4/1.
Early Payout Offer – A promotion where a wager made by a customer will be paid out before the final result is known, if a certain criteria is met in a game or match. For example, Full Time Result bets will be paid out as a winner if the team you back goes 17 points up in an American Football game.
Edit My Bet – An option available on some bookmaking sites which allows customers to place a bet and then go back and edit the bet once the game or games are in progress. Changing the bet will change the odds the bet will be paid out at.
English Odds – Another name for Fractional Odds.
Esports – A relatively new form of betting on which customers can bet on the outcome of selected matches across a number of popular computer game titles including Counter-Strike 2, Dota 2, League of Legends, FIFA, NBA 2K, Call of Duty, Rocket League, Overwatch, Rainbow 6 Siege and more.
European Odds – Another name for Decimal Odds.
Exchange – An option to a standard betting site where you can not only back a selection to win, but also lay against it winning. Read more: Betting Exchange: How does it work?
Extra Places – When a betting company offers to pay out each way bets on more places than standard on a sporting event.

F

Flat – Any greyhound or horse race that is contested on a course without any jumps.
Forecast – A bet on an event, such as a horse race, where the bettor must predict the first two finishers home. There are three different types of Forecast bet, Straight, Reversed (or Each Way Forecast) or Combination Forecast.
Fractional Odds – A format used for stating odds as a fraction, for example 2/1. Can also be called English Odds.
Free Bet – Also sometimes known by other names such as Bet Credits, a Free Bet is essentially when a bookmaker gives you a stated amount of their own money to place a bet. With Free Bets, the Free Bet stake is usually not returned with any winnings.
Full Cover Bet – A multiple selection bet of three or more selections which covers all the possible different winning combinations from those selections. Based on the number of selections made on the bet, Full Cover Bets have a wide variety of names. (See also – Trixie, Yankee, Canadian (or Super Yankee), Heinz, Super Heinz or Goliath).
Full Cover With Singles Bet – This is the same as a Full Cover Bet, but also includes backing each selection made as a single bet in addition to all the other combinations of bets. These types of bets also have their own names (See also – Patent, Lucky 15, Lucky 31 or Lucky 63)

G

Goliath – A Full Cover Bet of eight selections which comprises of 247 separate bets

H

Handicap Betting – A method used by bookmakers to try and level out the strengths of two opposing teams or individuals by adding points or goals for weaker opponents or removing them for stronger opponents. Handicap betting is popular in American Sports but is also growing in popularity in other sports too. Read more: What is handicap betting?
Heinz – A Full Cover bet of six selections which comprises of 57 separate bets.

I

In-Play Betting – Also known as Live Betting. A dynamic form of betting where a stake is placed on a sporting event market when the event is currently in progress, and which may be decided before the event is completed. Read more: How to win at live betting
Insurance – Often used in terms of bet or betting insurance. These are promotions or offers where the punter in question will get their stake back, usually as a Free Bet or Bet Credits, if their losing bet meets certain criteria. For example, Make a five-fold accumulator bet and if just one leg lets you down, you get your stake back as a free bet thanks to acca bet insurance.

J

Jumps – A horse or greyhound race, or similar, that is contested over fences or hurdles of some form.

K

Know Your Customer (KYC) – Often shortened to KYC. This is a verification process where bookmakers ask for confirmation from the customer to prove they are who they say they are. This is usually achieved by sending through official documents such as Driver’s Licence, Passport details, as well as proof of address such as a utility bill. This is also part of the site’s anti money laundering protection too. See Verification.

L

Lay Bet – When you back on an event not happening in a fixture. For example England not to win against Brazil. Lay Bets are used mostly on an exchange.
Live Betting (or Live Bet) – Another phrase used for In-Play betting.
Live Streaming (or Streaming) – A feed on a betting site where the viewer can see the fixture being played in almost real time (a slight delay is likely with the feed). This facility is often used with Live Betting. Many sports can now be viewed via Live Streaming on a modern betting site.
Long Term Bet – The same as an Ante Post bet but a term used to cover other sports that offer bets on events some distance in the future, such as backing tennis ace Novak Djokovic to win the Australian Open eight months before the tournament takes place. See also Outright Bet.
Loyalty Scheme – Also called a Reward Scheme or Loyalty Program. A system offered by some sports book providers to reward long-serving customers with a reward scheme where the benefits on offer increase the further the individual customer progresses through the scheme.
Lucky 15 – A four selection Full Cover Bet with Singles that comprises of 15 separate bets.
Lucky 31 – A five selection Full Cover Bet with Singles that comprises of 31 separate bets.
Lucky 63 – A six selection Full Cover Bet with Singles that comprises of 63 separate bets.

M

Market (or Betting Market) – The various options for a single betting event at a bookmaker.
Multiple Selection Bet – Wagers that comprise of more than one selection and which require a certain series of events to happen in order for the bet to be a winner. There are many different forms of Multiple Selection Bets. Including Accumulators, Full Cover Bets, Doubles, Trebles, Banker Bets and more.

N

O

Odds – The implied probability of an event happening or a specific outcome occurring. The lower the odds, the more chance it has of occurring. Odds are usually quoted in the form of Decimal, Fractional or American styles. Read more: How do bookmakers set the odds?
Odds Comparison Site – A site which specialises in comparing the odds of several betting sites for the same market. An ideal choice for punters that operate multiple accounts and want the best odds for their choice of bet. Read more: Betting Sites: The 28 Best Online Bookmakers (2024)
Outright Bet – A bet made on the individual or team that will win an entire event, rather than a single match or game. For example, Backing England to win World Cup 2026 in football. These bets can often be placed as Long Term or Ante Post bets.

P

Patent – A three selection Full Cover Bet with Singles that comprises of seven separate bets.
Profit – Any money that you win that is above your total stake for a bet. For example a £15 return on a £5 bet is £10 profit.

Q

R

Responsible Gambling – See Safer Gambling.
Return – The full amount of money you win on a bet including your winnings (based on the odds) and your stake return.
Reversed Forecast – Also called a Each Way Forecast. This is the same as a Forecast bet only the two selections can finish first and second in the race in any order.
Reward Scheme – See Loyalty Scheme.

S

Safer Gambling – A selection of resources, guides and other information to help customers gamble responsibly. Also known as Responsible Gambling.
Shorten – When a selection in an event is backed heavily, the bookmaker will reduce the odds on that selection. This is known as shortening the odds.
Single – A bet of one selection which must win in order for the bet to be a winner.
SP – Short for Starting Price.
Special Bet – A bet that is somewhat different to the usual forms of bet a bookmaker offers. A good example of a special bet is betting on who will be the next England team manager, or which football team a player linked with a transfer will be playing for at the start of the season.
Stake – The amount of money that a customer hands over to the bookmaker for their bet. The stake is used alongside the odds taken to decide how much the customer will win if their bet is successful.
Starting Price – The final odds available on a betting selection before the event begins. It is sometimes shortened to SP and is used primarily in Greyhounds and Horse Racing betting.
Straight Forecast – A standard Forecast bet where the punter must pick which horses finish 1st and 2nd in a race and in the correct order.
Super Heinz – A Full Cover bet of seven selections which consists of 120 separate bets.
Super Yankee – A Full Cover Bet comprising of five selections and which covers 26 separate bets. Also known as a Canadian.

T

Treble – A form of accumulator bet that comprises of three selections, all of which must win in order for the bet to be a winner.
Tricast – A wager where the punter must select three selections in a race and they must finish 1st, 2nd and 3rd and in the stated order.
Trixie – A Full Cover Bet of three selections comprising of 4 separate bets in total

U

Under/Over – A popular market on many sports where wagers can be made on whether there will be a stated number of points or goals scored in a game. Read more: What is Over and Under Market in Sports Betting?

V

Verification – See Know Your Customer. The process by which a customer verifies their identity with a betting site provider to enable them to deposit and withdraw money.
Virtuals – Also known as Virtual Sports. These are entirely computerised sporting simulations of sports events, or entire sports seasons, which allow customers to bet on them and which the results are randomised. There are many different types of Virtual Sports options available.
Void – A bet that the bookmaker cancels due usually to something stopping the event being played or another type of change that renders the initial bet unworkable.

W

Wager – Another name for a Bet.
Welcome Offer – A promotion or bonus that a bookmaking site will offer to new customers as an enticement to get them to sign up with them. Deposit Bonuses or Free Bets are common forms of Welcome Offer.
Winnings – The amount of return on your bet that is clear profit and not your stake being returned.

X

Y

Yankee – A Full Cover Bet comprising of four selections which covers 11 separate bets.

Z

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