Glossary of betting terms

An event that is not completed.

A multiple bet with simultaneous selections on two or more events. All the selections must win for the accumulator to win.

A bet of any kind is deemed "action" if valid. Different rules apply in different sports to determine if a bet is "action" or not.

A person who solicits bets for a bookmaker and gets a commission.

A bet that stands regardless of whether your selection plays or not.

A bet that is placed on an event on the future.

When a difference/variation in the odds available allows a punter to back both sides and guarantee a win.

A type of betting that is used to balance two sides and remove the draw from the game.

When a bookmaker takes a lot of money on one particular selection, this is said to be "backed". This scenario usually causes the shortening of odds.

A selection highly expected to win by the punter. The strongest selection in an accumulator bet. A selection that must win to guarantee any return in permutation bets.

The funds available to the punter.

The act of staking a sum of money on the outcome of an event. A pledge of money that a certain outcome will occur.

A person who places a bet.

Bookmaker's tally of amounts bet on each selection at odds necessary to ensure a profit regardless of the final result.

Short for bookmaker.

A person or company who is licensed to take bets.

A game where the bookmaker limits the betting activity.

Beating the spread by the required number of points.

Betting using credit with a bookmaker.

Betting with money deposited in advance with a bookmaker.

A $1000 bet.

The agreed payout or return on any bet.

Short for underdog.

When competitors in an event finish evenly. If the draw was not offered as a betting option, usually the Dead Heat rule applies and the return will be divided by the number of joint winners.

When the odds of one outcome gets longer (lengthens) are said to be "on the drift" or "to have drifted".

When a punter eliminates non-contenders and bets on other selections in the exact proportions necessary to yield a profit no matter which selection wins.

A bet that is automatically splitted 50:50 into one bet to win and one bet to place.

To have an advantage.

A 1/1 bet (fraction format).

US term for any bet other than a straight bet.

The individual or team considered most likely to win, the shortest priced selection in any event.

All the competitors taking part in an event. The term is also used to offer odds collectively on non-listed individuals or teams.

When preceded by a number, it indicates the number of selections in an accumulator.

A factor used to rate how an individual, horse or team is currently performing.

US term for antepost.

Another term to indicate a bet.

A £1000 bet.

US term for the over/under total for the combined score of all the hockey games for that day.

A system which gives an advantage (head start) to the weaker individual or team in one-sided events. Bookmakers use it to make of an event a more attractive betting proposition to the punters.

A person who analyzes sport events predicting the outcomes.

US term to indicate the total amount of money taken in bets by a bookmaker over a given event or period of time.

This is a form of soccer betting popular in Asia where returns on a team winning are determined by part-goal handicaps.

When a punter places a bet on the opposing outcome to his original selection in order to guarantee a winning or cut a loss.

Breaking even.

The half point in point spread.

The bookmaker commission.

When a bookmaker, or a person on a betting exchange, accepts and takes on a bet is "laying" a bet.

A bookmaker's bet with another bookmaker, made in order to relieve the excess action he has accepted from his customers.

A bet on the favourite in a point spread event.

A bet on the favourite in a money line event.

Referred to the odds getting longer. When a bookmaker increases the odds on a particular outcome to make them more attractive.

The maximum bet accepted by the bookmaker.

The person who compiles and sets the betting lines.

Another term to indicate the odds offered to the punter.

US term to indicate an easy or "guaranteed" winner.

A selection that is unlikely to win.

US term to indicate a bettor that places bets on both sides.

US term to indicate a line offered without a handicap.

A newspaper's best bet of the day.

Numbers used to calculate how much a punter can win at a given stake for a particular outcome. The return offered by the bookmaker on a selection to win.

A price where the odds are greater than evens (fractional) or 2.00 (decimal).

The person who compiles and sets the odds.

A price where the odds are less than evens (fractional) or 2.00 (decimal).

Another term for odds compiler.

US term to indicate an event on which a bookmaker will not accept action.

Another term for underdog.

A bet on whether the total points or goals scored will be over or under a specified number posted by the bookmaker.

When the "book" results in a loss for the bookmaker.

When the odds of a selection are high compared to its chance of winning.

US term for accumulator.

Selection of all specific accumulators from a list of selected outcomes. For example, if you select 4 outcomes (a, b, c, d) you could perm all the possible doubles and trebles. Six doubles bets: ab, ac, ad, bc, bd, cd. Four treble bets: abc, abd, acd, bcd.

Betting selections chosen by an expert.

Another term for punter.

The points allocated to the underdog to level the margin of the favourite in a mismatch.

Scheduled starting time of an event.

US term for deposit betting.

Another term to indicate the odds.

A bet on a particular aspect of a game or on a non-sports event.

A person who places a bet.

A game that is tied after the point spread is factored in.

Total amount for a winning bet (stake+winnings).

US term for a bettor who attempts to profit from the differences/variations in the odds from bookmaker to bookmaker by betting both sides of the game at different prices.

A tout that makes false claims about win percentages with the aim to defraud unwary bettors.

A knowledgeable and smart bettor.

Referred to the odds getting shorter. The opposite of "lengthen".

A straight bet on one selection.

A line that has been adjusted or moved as a result of action and does not reflect the true price.

A US term for bookmaker.

Short for point spread.

Unsophisticated bettor.

Heavy one side action that causes a betting line to move quite rapidly.

A can't lose bet.

A method of betting used by a punter to try to get an advantage.

A bet on the underdog in a money line event.

A bet on the underdog in a point spread event.

US term for a bet based on the point spread where the punter can adjust the line in his favour in return of reduced odds.

Another term for draw.

Betting selections chosen by an expert.

US term for over/under bets.

A person who sells to punters his selections on sports events.

US term for tipster.

The individual or team considered less likely to win.

Short for vigorish.

Another US term to indicate the bookmaker commission.

US term for bet.

A successful bettor that makes his living from betting.