Sports Glossary

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Accumulator

When more than 1 punt is combined, and your success is dependent on each selection winning.

Binary Betting

A combination of Fixed-Odds and Spread betting with only 2 outcomes, 0 or 100. The wager is struck against an offer or bid somewhere between these 2 on an agreed-upon unit.

Closing Line

The last available odds offered to punters before a market closes. Consistently beating the Closing Line is the hallmark of a good punter.

Double

When you play twice the amount of a usual stake, usually in reaction to something seen to be a good thing. Also referred to as Double Pop or Doubling Up.

Each Way

A pledge comprised of 2 independent stakes, 1 for the selection to Win and 1 for the selection to Place. The latter conditions will vary in relation to the number of participations. Most frequently, but not exclusively, found in Greyhound and Horse Racing.

Expected Value

The amount that you can expect to win or lose if you were to place a pledge on the same odds many times over. Calculated through a simple equation multiplying your probability of winning with the stake you could take home and subtracting the likelihood of losing multiplied by the amount of money you would lose per stake.

Futures

Markets for the winner of a particular future event, frequently posted far in advance of its occurrence. For example, winners of the EPL, Super Bowl, Stanley Cup, or World Cup.

Hedging

If you pledge on both sides of a market, or several selections within the same one, you’re Hedging. You will be exploiting the benefits of discrepancies in price, or trying simply to limit your losses.

In-Play Betting

Staking on an event as it is actually unfolding.

Juice( or Vig/Vigorish)

The implied cost of staking on a wager set by the bookmaker. Bookies inflate the perceived chance of an event occurring, as will be represented by their odds. These will suggest that it is more likely to happen than underlying probability would tell you.

Longshot

A selection very low probability to win, suggestion it as unlikely to win, but offering a return that is very high in proportion to this.

Middle

This refers to a situation in which you are winning on both sides of the same wager by exploiting odds, points movements, or discrepancies over time.

Nap

Term to indicate the most confident selection a tipster has.

Non-Runner

Selection that will not participate in any given event.

Novelty

A wager which is difficult to assess in common handicapping terms, offered purely for its unconventionality. For example, who will win a certain reality TV show.

Overbroke

Describes the situation when a market’s gambling percentage is less than 100%, and so provides an advantage to you rather than the bookmaker.

Power-Ranking

A system of ratings based on historical information that you would use for your predictions.

Proposition Bet

Also referred to as a Prop, this is a stake derived from events that happen inside a game or match. For example, the First Goal Scorer, or First Player to Receive a Yellow Card.

Quarter Bet

A wager on the outcome of 1 particular quarter of a game only.

Round Robin

A specific Multiple wager which combines 3 selections in a 10-Combination stake.

Square

If you’re an amateur punter you’re a Square!

Tissue Price

Guide price that is very tentative and very likely to alter.

Value

Staking at odds that represent a lesser chance than the underlying probability, therefore giving you Value in terms of an increased in your potential profit.