Accumulator

A single cumulative bet on multiple selections where the winnings from one outcome roll on to the next and so forth. They can provide large returns for a small stake, but are usually let down by a goal around 4.55pm on a Saturday.

Ante Post

Bets placed on a future event. Ante post bettors are liable to lose their stake should their selection fail to compete, but that risk is rewarded with market prices that are often inflated.

Arbitrage

The process of covering all outcomes of an event at contrasting prices to guarantee a profitable return before it commences. Arbing often involves backing a selection with the fixed odds bookmakers and then laying it at a shorter price on the betting exchanges.

Asian handicap

As the name would suggest, this form of betting emanated from the Far East and has become more popular in Europe in recent years. Used primarily on football matches, the handicaps come in 1/4 and 1/2 intervals to eliminate the possibility of a draw and bring the line as close to a predicted 50-50 result as possible. The handicaps at 1/2 intervals offer half win/lose scenarios dependent on the outcome.

Click here for more information on Asian Handicaps.

Backing

The act of placing a bet on a selection to “win” an event.

Banker

Term for a highly fancied selection that is likely to be the base of several multiple bets. When a “banker” is selected amongst a multiple of permutations, that selection must win for there to be any amount of return.

Bar

The bar sets the limit for selections quoted in a betting market. For example, the outright betting for the Premier League may quote “Man City 4/6, Man Utd 11/10, Tottenham 125/1, Arsenal 250/1 Bar” which would mean any other side with a price offered in that market would be bigger than 250/1.

Betting exchanges

First seen at the start of this century, betting exchanges offer members the chance to strike bets with each other by backing and laying selections without the need of a traditional bookmaker, although the exchange will take a small percentage of any winnings as commission.

Double

A bet on two selections that both need to win for the wager to be successful.

Double Chance

The option of backing two possible outcomes in an event, usually a football match. For example, by backing the away side and the draw on the double chance, you will be paid out on any result other than the home win but, obviously, at a shorter price than the individual selections because of the increased likelihood.

Double result

See also Half-time/Full-time bets

A popular alternative to backing a short-priced selection in a football match, the double result offers you bigger odds for correctly predicting the outcome not only at 90 minutes, but also at half-time. Instead of the three possible options (1-2-X), this market offers nine different bets such as Draw HT/Draw FT and Home HT/Away FT.

Draw no bet

By backing a team to win in the draw no bet market, you will be returned your entire stake if the match ends level although should your selection win it will be at a smaller price than the 1-2-X market.

Each Way

An each-way wager consists of two separate bets. The first is a win bet on your selection, and the other is on the pre-determined place market of the same event at a proportional price as defined by the bookmaker.

Favourite

The team or individual deemed most likely to win a specific event by the bookmakers. Two or more selections rated equally as highly are known as joint or co-favourites.

See also jolly.

Half-Time/Full-Time

See Double result

Handicap

The method used by bookmakers for evening up seemingly one-sided contests, such as offering an away side who are the underdogs a one-goal headstart. These handicaps are added to the final score to determine a new result.

Hedging

Often known as laying off, hedging refers to the act of placing further bets in a market where you have already struck an original wager to ensure a profit regardless of an event’s final outcome.

Jolly

See favourite.

Laying

On the exchanges, the act of laying is effectively playing the role of the bookmaker and betting on a specific selection to lose. The layer will win the bettor’s stake following any outcome other than that selection winning.

Match betting

With so many different and obscure markets available these days, match betting refers to the traditional three options of 1-2-X (Home-Away-Draw) of football games, and doesn’t include extra-time or penalties when referencing cup matches.

Nap

The term used by tipsters when referencing their most strongly fancied selection over a period of time.

No offers

The occurrence when a bookmaker will no longer accept bets on a certain selection, usually due to the certainty of their success.

Non-runner

A selection that takes no part in the event it was intended to. Backing a non-runner will almost always mean the stake is returned with the exception being bets that have been struck ante-post.

Odds against

Any odds quoted by a bookmaker that are bigger than evens, meaning that they believe that outcome is more likely not to happen than happen.

Odds on

Any odds quoted by a bookmaker that are smaller than evens, meaning that they believe that outcome is more likely to happen than not to happen.

Outright

Outright betting refers to the eventual result of a match or competition rather than any fringe markets.

Over-round

The percentage to which bookmakers work when pricing up their book on any market. Theoretically it should total 100%, but that’s not to allow for the bookmakers’ margin and the reality is that it comes in higher. Football matches are usually priced to around 112%.

Over/under

An increasingly popular bet where the total number of goals in a game are predicted to be either over or under a stated number by the bookmaker. The number will always be to a .5 decimal to eliminate the possibility of a tie.

Perm

The method of covering multiple bets with all possible permutations. For example, as well as a four-fold accumulator, you may also want to cover the trebles (four bets) and doubles (six bets). Covering a large number of selections with small permutations will lead to a greater number of total bets.

Place

A place bet is a wager on a selection to end up in one of the predetermined finishing places of a competition with the odds calculated as a specific proportion of the original price for the win. Bookmakers will not usually offer the opportunity to bet solely on the place without an equal stake (each-way) or more on the same selection. However, place only bets have become more commonplace in recent years.

Single

A bet on an individual selection, be it win, place or each-way.

To qualify

Predominantly used in cup games and tournaments, the to qualify bet focuses solely on a team or individual to progress to the next stage of the event by any means. In a football match, the bet eliminates the possibility of a draw and is reflected in the smaller odds.

Treble

A bet on three selections that all need to win for the wager to be successful.

Void return

The refunding of your stake, most often because of a selection’s lack of participation (non-runner).

Winning Margin

A wager on the margin by which a team or competitor wins their event. The winning margin bet usually comes in the form of a spread. For example, 2-3 goals or 11-20 points.