Betting Glossary – Find Out What All Betting Terms Mean

Accumulator (ACCA)

An accumulator is a single bet that links together 2 or more separate bets, with the winnings from the first bet placed on the second and so on. All of the separate bets placed must win for a pay out.

ACCA Bets

Action

A quick form of betting in which an outcome will be known promptly. For example, betting on when the next throw in will occur in a football match.

Against the Spread (ATS)

A bet placed on the least likely outcome.

Ajax

Slang. "Betting tax".

Also Ran

A team or individual that consistently fails to win or place.

Ante Post

A bet placed in advance of an event. For example, the odds are fixed before the runners of a race are known, on horses that are likely to enter.

Arbitrage Betting

Placing a bet on all possible outcomes to guarantee a profit. Usually made possible by an odds discrepancy between bookmakers or errors in drawing up odds.

Asian Handicap

A version of spread betting used in football. A team is handicapped according to how well they are going and therefore a stronger team must win by more goals for a bet to be won.

Back-to-lay Betting

Placing a bet, then laying the same bet at a later time. The lay bet is often used during the event as circumstances change.

Back Door Cover

When an event happens late in the day that ensures the underdog has covered the spread.

Bar

A term used in horse racing to describe the runners in a race not given pre-race odds. It shows what the lowest odds of these horses are most likely to be, e.g. 40-1 bar.

Banker

Placing a bet on an outcome that is very likely to happen.

Bankroll

The sum of money a punter sets aside (and is prepared to risk losing) when betting.

Beard

A person who places a bet on behalf of another person.

Beeswax (bees)

Slang for "betting tax". The tax a bookmaker pays on their turnover, sometimes recouped through adding the tax to a punter's stake.

Bet

A sum of money placed on an event.

Betting Exchange

A forum that allows bettors to bet against their peers, rather than the bookmaker. Betting exchanges can offer more opportunities such as betting on outcomes that bookmakers would be reluctant to set odds for.

Bettor

One who places a bet.

Blind Bet

A bet placed to divert attention away from another, larger bet.

BOG

Best Odds Guaranteed. Bookmakers offering BOG will pay out at the higher price if the starting price is higher than the odds the punter takes.

Bookie/ Bookmaker

The organisation or person that accepts (and pays out) a punter's money as a bet on events. Online Bookies

Bottle

Slang. Odds of 2:1.

BTTS

Both Teams To Score.

Burlington Bertie

Odds of 10/3, usually stated as 100/30.

Buy Price

The higher of the 2 prices offered by a bookmaker in spread and index betting.

Canadian

26 bets (10 doubles, 10 trebles, 5 4-folds, plus an accumulator) involving 5 selections in different events. At least 2 of the bets must be successful to gain a return.

Carpet (also known as "tres" or "gimmel")

Slang. Odds of 3:1.

Cash Out

Settling a bet early and accepting a lower pay out as a result.

Chalk

The favourite.

Chalk Player

A punter who bets on the favourite.

Circled Game

A game is circled when a bookmaker puts a limit on the amount of activity they are prepared to take on a game. This usually happens when there is some uncertainty around an event, making the outcome less predictable.

Clean Sheet

When a team finishes a game without having conceded any points.

Closing Line

The final betting line offered by bookmakers before an event begins.

Combination Bet

Placing multiple bets on a series of selections. Not all selections have to be correct for the punter to receive a payout.

Correct Score

The punter places a bet on what they think the final score of a game will be.

Coupon

A list of all the available matches to bet on, with space for punters to make their selections.

Coupon Busters

Bets that are likely to lose.

Dead Certs

An outcome that is very likely to happen.

Dead Heat

When there are 2 or more joint winners in an event.

Dog player

A punter who bets on the underdog.

Doubles

A type of accumulator, involving just 2 selections.

Double Action

Also known as an 'if bet'. The punter places an original bet with a clause, if that clause occurs then the second bet is played.

Double Chance

Used in football. The 3 outcomes of a football match are reduced to 2, with a win/ draw or lose option being used instead of win or draw or lose.

Double Result

Punters place bets on the results at both half time and full time.

Draw No Bet

A coverage bet where a punter backs a team to win but will get their stake back if the match is drawn.

Drift

When the odds on a selection get bigger (lengthen) over time.

Dual Forecast

Used in horse racing. The punter picks the first 2 finishes in races of 3 or more.

Dutching

To spread the stake over several outcomes in the same event. Calculated so that the same amount is won irrespective of the outcome.

Each Way

A bet consisting of 2 wagers. The first wager is for the selection to win and the second is for the selection to place.

Edge

An advantage.

Eve

A bet placed at even odds.

Exacta, or perfectans

One bet placed in which a punter will try to predict the winner and the second place.

Exotic

Any bet which is not a straight bet (i.e. not a bet for a win).

Exposure

The amount that could be lost by either a bookmaker or a punter during an event.

Favourite

The team or individual most likely to win an event.

Figure

To be in with a winning chance.

First Goalscorer

A bet placed on the first person to score a goal in an event.

First Half Bet

A bet placed on the outcome of the first half of an event.

Flag

23 bets (a 4-fold accumulator, 4 trebles, 6 doubles and 6 single stakes) involving 4 selections across different events.

Fold

The number of selections in an accumulator.

Form

How a player or team is currently performing.

Free Bet

An incentive used by bookmakers to entice punters, often with strict terms and conditions. Free Bet Guide

French Odds

Expression of odds as 100 to 8, 100 to 4. For example, the Burlington Bertie.

Full Cover

A bet which includes all available multiple bets in a given selection. Not all selections have to win for a payout.

GamCare

The UK's leading provider of free information and advice and in the prevention and treatment of problems associated with gambling.

Goal Line

The number of goals scored at the end of play.

Goliath

247 bets (28 doubles, 56 trebles, 70 4 folds, 56 5 folds, 28 6 folds, 8 7 folds and 1 8 fold) with 8 selections over different events. 2 or more of the selections must win to gain a return.

Grand

Slang for £1000.

Half time Bet

A bet predicting the score at half time.

Half time result

The score at half time.

Handicap

A type of spread betting often used when one player or side has clear advantage. For example, a football team likely to win may be awarded a handicap of minus one goal, meaning that they have to win by more than one goal for the bet to pay out.

Handicapper

A person who tries to predict the outcome of an event.

Hang Cheng

Another term for Asian Handicap.

Hedging Your Bets

Placing a follow-up bet after an original bet to ensure a profit, regardless of the outcome. Betting-Strategies

Heinz

57 bets (15 doubles, 20 trebles, 15 4 folds and 1 6 fold) used across 6 different selections. 2 or more selections must win to gain a return.

Hook

A half point added to a spread to prevent break-even situations.

IBAS

Independent Betting Association Service.

In-play Betting

Betting on an event that is already underway.

In the Money

The horses in a race that are placed ensuring a punter will receive a payout, usually those placed 1st, 2nd and 3rd.

Joint Favourites (jt-fav)

Players, teams or horses that are equally as likely to win according to the odds.

Jolly

The favourite.  

Kite

A cheque. UK slang.  

Layer

A bookmaker or person who lays odds.

LBO

Licensed Betting Office

Lengthen

When the odds on an outcome are increased.

Lines

The odds, spread or handicap offered to a punter.

Linemaker

A bookmaker or person who sets the betting lines.

Long Odds

The odds on an outcome unlikely to happen.

Longshot

The unlikely winner or outcome of an event.

Lucky 15

15 bets (4 singles, 6 doubles, 4 trebles and 1 4 fold) involving 4 selections across different events. Used in horse and greyhound racing.          

Match Betting

Betting on a match with the outcome offered as win, lose or draw. The most common form of fixed odds betting.

Monkey

UK Slang for £500.

Moneyback Offer

Incentives used by bookmakers to entice punters who will receive their money back if the bet is not successful.

Morning Line

The entry list and likely odds for runners in a race posted before betting starts.

Multiple

Another name for an accumulator.

Mutuel Pool

The total amount of money bet on a race.

Nailed On

A bet that is considered a guarantee to win.

Nap

The choice that tipsters and pundits consider to be the strongest selection for the event.

No Action

A bet in which no money is won or lost.

Non Runner

A horse that fails to make the starting line up.

Number Spread

An index spread that considers the number of runs, goals and points scored in an event.

Odds

The bookmakers view on how likely an event is to happen.

Odds on

The odds are less than evens.

Odds against

The odds are more than evens.

Odds compiler

The person who sets the odds.

Off the Top

When bookmakers take a fixed percentage from the total amount of money bet on an event before paying out.

Off Track

Betting that occurs away from the race track.

Off the Board

When a bookmaker stops taking bets on a particular event.

On the Nose

A bet placed that a horse will win.

Outright Bet

A simple bet where the punter picks one selection to win an event. For example, which team will win the FA Cup.

Outsider

The competitor least likely to win.

Over

Betting over the predicted total number of points or goals in an event.

Overbroke

When the bookmaker returns a loss following an event.

Overlay

When the odds favour the punter.

Over-round

When the profit margin is in the favour of the bookmaker.

Over-under betting

Betting over or under the predicted total number of points or goals in an event.

Pari-Mutuel

When all the bets on a race are pooled together. The size of the winnings will be according to the size of the pool and the number of winners.

Parlay

US term for an accumulator.

Patent

7 bets (3 singles, 3 doubles and 1 treble) across 3 selections in different events. Only one selection needs to be successful for a return to be gained.

Permutations or Perms

Making doubles from individual selections, increasing the number of bets over a number of selections. For example, if the individual selections W,X,Y,Z were 'permed', there would be WX,WY,WZ,XY,XZ AND YZ, making 6 possible bets.

Photo-Finish

Looking at photographic evidence to determine the winner of a race.

Picks

See "tips".

Place Terms

The odds given to 'place' rather than to win.

Point Betting

Another term for spread betting.

Point Spread

The predicted scoring difference between players or teams. A form of handicap betting.

Pony

A £25 bet.

Pool

Total amount of money bet for a win, place or show.

Price

The odds given.

Price Boost

When a bookmaker offers an enhanced, more attractive price for an event outcome.

Punter

A person who places a bet.

Quinella

The punter places a bet predicting the horses that will finish in 1st and 2nd place. The order of placing does not matter.

Related Contingencies

Where the outcome of one event will affect the outcome of another. In this instance, multiple bets will not be allowed on these events.

Ringer

Used in horse and greyhound racing. Entering a (usually good) runner in the name of another (usually poor) runner.

Roundabout

3 bets involving 3 selections across different events.

Rounder

Another term for 'roundabout'.

Round Robin

10 bets (3 pairs of 'Single Stakes About', 3 doubles and 1 treble) involving 3 selections across different events.      

Score

1) To win a bet 2) A £20 bet

Scorecast Betting

The punter tries to predict the final result of a match and also the player that scores the first goal.

Scout

A punter who waits to bet on a very likely outcome.

Settler

The expert at a bookmaker who calculates payout.

Sharp

One who gambles professionally.

Shortening the Odds

When the odds are reduced, usually as a result of heavy betting activity.

Single

A simple bet where only one outcome is backed, usually a win or lose.

Single Stakes About (or SSA)

2 bets (1 single across 2 selections any to come and 1 single on the opposite selection reversed).

Smart Money

The wager's of those in the know.

Special Bets

Betting on a more unusual aspect of an event. For example, the number of corners in a football match.

Spreads

See handicap. Often used when a player or side has a clear advantage.

Starting Price

The odds at the start of a race.

Straight Forecast

Placing a bet on the racers that will come first and second in the correct order.

Super Heinz

120 bets (e.g. 21 doubles, 35 trebles, 35 4 folds, 21 5 folds, 7 6 folds and an accumulator) consisting of 7 selections across different events.

Super Yankee

Another term for 'Canadian'.

Sure Thing

A bet that is very likely to win.

System Bet

A type of accumulator with several combination and single bets picked.

Teaser bets

The line of spread is moved in the punter's favour and lower odds are accepted.

Tic-tac

The hand signals used by bookmakers at a racing course to convey information.

Thick 'un

A large bet.

Tiercé

A bet placed on which horses will finish 1st, 2nd and 3rd.

Tips

The outcome predicted most likely to happen by tipsters.

Tipster

A person who predicts the likely outcome of an event and gives away or sells this information.

Tote

"The Horserace Totalisator Board". A UK organisation that operates pool-betting on racecourses.

Tout

Another term for tipster.

Trebles

A bet formed of 3 selections across different events. All 3 must be successful for a pay out.

Tricast

A bet placed on the 1st, 2nd and 3rd place finishers.

Trixie

4 bets (3 doubles and 1 treble) across 3 selections in different events.

Turf Accountant

Bookmaker Online Bookies

Under

Betting under the predicted number of points or goals in an event.

Underdog ("Alpo", "Dog", "Puppy" or "The Short")

The least likely to win.

Union Jack

A bet formed of 8 trebles across 9 selections.  

Value Bet

A bet placed when the punter believes the bookmaker has made a mistake, therefore increasing their chance of winning.

Vigorish

The bookmaker's commission.

Void Bet

The stake is returned to the punter, usually due to unforeseen circumstances in an event.

Win-Draw-Win (WDW)

Placing a bet on a team to win a football match, or for the match to be drawn after 90 minutes (if the team has not won after 90 minutes the bet is lost).

Wager

A bet.

Welsh/ Welch

An unpaid bet.

Win

The 1st placed. A successful bet.

Winning Margin

A bet predicting by how much one team will beat another.

Wise Guy

US term. A well-informed gambler or handicapper.

With the Field

Linking one horse with all the others in an event.      

"X"

A draw.

Yankee

11 bets (6 doubles, 4 trebles and 1 4 fold) across 4 selections in different events.

Yap

See "Lucky 15".