Popular Betting Terms
Whether you’re new to betting or you’ve been at it a while, the specific terminology used can have everyone scratching their heads from time to time. We’ve come up with a quick glossary so that if you are ever stumped about a term you’ve read or heard then you can check here for a clear and concise explanation of exactly what it means.
The better you understand the bets you’re making the more likely you are to win them.
This is when you make a series of bets that all must pay off. Each time a result is correct, the winnings will be placed on the next bet, and so your prize pot accumulates. You can only collect your winnings if all of your bets go your way.
When a person places money on the outcome of a future event, this is called an ante post. For example, this might mean predicting the world cup winner before the groups have been drawn.
placing a bet on a particular golfer in a cup.
In horse racing, the stretch of track that is opposite the finishing line.
This is the amount of money you have to place on bets AKA your budget.
To place money on a specific outcome.
Whether self-imposed or pre-set, this is the amount of money that you are allowed to spend on any one bet.
Short for bookmaker, this is the person or organisation who takes bets, sets odds and pays out winnings.
This simply means £100.
This is the favourite competitor to win an event.
When you bet on all of the possible combinations in the winning place. So, for example, you make this bet in horseracing to choose the top 3 horses, no matter which order they occur in, producing six possible outcomes.
In a sports game (commonly football), rather than just picking a winner players will predict the actual final score.
You attempt to predict which horses will win the first two races of the day.
A race in which the result was so close it is impossible to determine who was over the line first. Usually bettors will only receive a small proportion of what they would have won had their horse won outright.
This is a very specific racing bet whereby you are betting on a horse to win, but additionally betting that it will finish in first or second. If the horse wins your collect on both bets, but if it comes second you just collect on the one bet.
This is when the odds are 1:1, so you’ll basically get double what you bet back if you win.
The competitor or candidate that has the best chance of winning.
This simply refers to the number of horses that are competing in a race.
A specific wager where you bet on who you think will come both first and second in a race or sporting event.
A prediction of how well a horse is to perform in a race based on how well it has performed in previous races.
Specific to snooker, this is simply the number of frames you think will be played in the match.
This simply means £1000.
This is a bet that you place during the half time break in a sporting event, usually football or rugby.
Betting against your initial bet so that you don’t lose too much money.
You are a High Roller if you place a large amount of money on individual bets.
In The Money
This expression is used when referring to a competitor or candidate that has finished in a position that will win lots of money for those who bet on it.
This refers to two horses or competitors that are equally as likely to win the race or event.
When a competitor is very unlikely to win they are given odds of around 100 to 1 or more, and these are known as long odds.
A competitor that is the most unlikely to win in a race or event.
This simply means £500.
In horse racing, when a horse achieves a win by a very narrow margin.
The probability of a specific outcome occurring. The higher the odds, the more unlikely the outcome and the more money paid out if it does occur – and vice versa.
The odds that are given to the favourite(s), paying out less than 1:1.
The opposite of odds on; the odds that are given to an unlikely competitor and therefore paying out more than the original wager.
The underdog; the competitor that has the least chance of winning an event.
A result that is so indeterminably close that a photograph of the crossing line needs to be examined in order to decide who the winner is.
Betting on a competitor or horse to finish in first or second place.
The total amount of money that has been wagered by all bettors on all outcomes of a specific event.
You; the person placing a bet.
Betting on two horses to finish in first and second places either way around.
A person who places bets on your behalf.
A person who is very skilled at betting.
When a competitor, usually horse or greyhound, finishes in third place.
Simply putting money on a single outcome.
The amount of money that you bet on a specific outcome.
A bet that will almost definitely pay off.
A particular method, usually personal to each individual gambler, that can help you to increase your likelihood of winning. It usually involves complex mathematical calculations.
A board on a track that shows the odds for each competitor before a race, and displays the results after it.
Betting on three selections in an event; all three must win in order to collect.
Betting on the first three positions in a race or event.
The outsider; the competitor that has the least chance of winning (and subsequently the highest odds.)
A bet that is no longer valid as there was no result.
A bet on the amount by which one team will beat another.
The finishing post or line in horse and greyhound races.