Betting Terminology Explained
Football betting is one of the most exciting sports to place your bets on and there are millions of fans around the world that enjoy doing so regularly.
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A bet on a participant to win an event with no point spread. A format for displaying odds that shows how much money you must bet to win $100 (for example -110 means you must bet $110 to win $100) or how much you can win for betting $100 (for example +110 means you win $110 for every $100 bet). Betting terms explained. Action: A bet or wager on an event: Agent: A go-between of the player and the bookmaker. ATS: Short for Against The Spread. Back Door: When a team comes back to cover the spread when it seemed unlikely: Bad Beat: When you lsoe a wager that you thought you had won: Bank Roll. In Betting many specific terms are used. On this betting glossary page, we want to collect and explain the key ones. If you miss a term, send it to us, and we will add it to the list! Accumulator: A series of bets on multiple outcomes, all outcomes must be successful for the Punter to win the bet. Action:Any kind of bet. Betting Terminology Explained - A-Z Anyone unfamiliar with placing wagers will soon realise there is a language to betting, a good grasp of which is needed when visiting a bookmakers’ website. Likewise if you’re on the bookmakers’ app, in a bookmaker’s shop or placing a bet at a live race or event you need to know the vocabulary in. A glossary of sports betting terms for new players as well as betting site regulars looking to brush up on their sportsbook lingo.
However, those new to the betting scene are sometimes unsure about different football betting terms, how betting on football works and most importantly how to place winning bets.
That’s why we wrote this football betting guide which will explain the key strategies, betting terms and other important information you need to know so you can make more profit from your football bets in 2019.
Ready? Let’s jump right in.
Football betting explained
One of the most common questions we get asked is whether you should place your football bets at a bookmaker or a betting exchange.
So to kick off our football betting guide, we’re going to look at the difference between a bookmaker and a betting exchange plus the benefits of each platform when betting on football.
Bookmaker or exchange for football betting?
So what’s the difference between a bookmaker and betting exchange?
Bookmaker
A bookmaker or bookie as it’s often referred to is your traditional betting platform. This is the most common and popular type of betting company and one that you’ll probably use regularly.
Examples of a bookmaker include Ladbrokes and Coral. At a bookmaker, you effectively bet against the company when you place a wager.
If you win your bet, the bookie loses and vice versa.
Bookmakers offer a range of features that still makes them the most popular betting platforms in 2019.
Some of their benefits include:
- Great promotions and bonuses
- Boosted odds
Great promotions and bonuses
Bookmakers typically offer a great range of promotions to their new and existing customers. They use them to incentivise punters to place more bets. However, you should use them to increase your football betting winnings.
Here’s a great example of a football betting offer you should consider using.
Boosted odds
One of the benefits of using a bookmaker, is you have access to features such as boosted odds whereas using a betting exchange you don’t, as we’ll look at below.
Much like the promotions and offers mentioned above, odds boosts will only help increase your football winnings if you pick wisely and land your bet.
So what about betting exchanges for your football betting?
Betting exchanges
A betting exchange is another common betting term you’ll come across.
An exchange is an online marketplace which matches gamblers together. A betting exchange doesn’t take on any bets like a bookmaker does meaning you don’t bet against the company. You’re betting against other punters. It’s a peer to peer platform.
The betting exchange makes money by charging a commission on players’ net winnings rather than building a profit margin into the odds. This means you’ll generally get better value odds at an exchange like Smarkets as well as other benefits which we’ll look at below:
- Both back and lay bets available
- Bet against other punters
- Better value odds
Back and lay bets
Both back and lay bets are available at betting exchanges which is something not available at a bookmaker. For the majority of football punters, they’re only interested in placing back bets.
However, for the serious bettors who win football bets regularly, they also place lay bets.
Bet against other punters
As a betting exchange is a peer to peer platform, you’re betting against other punters rather than against a bookmaker. This adds another layer of excitement as you always want to beat your ‘opponent’ and win your football bet.
Better value odds
Due to how betting exchanges work, you’re going to get more valuable odds compared to a bookmaker who has to build their profit margin into the odds.
This is great for football bettors as it means you’ll have more winnings when you land a bet.
So, overall what betting platform should you use to place your football bets in 2019? As I said at the start, it’s really up to you and depends on your needs. The right choice for me may not be the same for you.
A mixture of both is generally a solid approach.
When it comes to opening a new bookmaker or betting exchange account, check out this guide.
Awesome, now you’ve got a better idea of the different types of betting platform, let’s look at some football betting types.
Football betting terms – Different bet types
Next up in our football betting guide, we’re going to explain the different kinds of bet you can place on football.
Single bets
Single bets are the most common and popular football bet type in 2019. A single bet simply means you place one bet at a bookmaker or betting exchange.
You’ll probably start off using these bets as they’re the most simple to understand and place.
However, you can’t write a football betting guide without mentioning the incredibly popular football accumulator.
Football accumulators explained
An accumulator is a bet that contains more than four selections. For you to win the overall accumulator, each selection in the bet must win.
Accumulators have become very popular over the last few years, especially when betting on football.
As you can imagine, the winnings can be quite profitable as the probability of all outcomes occurring is quite low.
The bookmakers usually add promotions and special offers to accumulator bets, meaning the potential winnings can be even greater.
On the other hand, accumulator bets have to be placed at one bookmaker meaning you may not always get the best odds on each selection.
For more information and how to win more football accumulators in 2019, check out this article.
Football betting explained – key markets
Next up in our football betting guide, let’s look at some common football markets you should consider betting on.
Win/Draw/Win
The most basic of football betting markets, you may also see Win/Draw/Win written as 1X2 or match betting. Don’t let this confuse you, it means the same thing.
In this market, you’re betting on the outcome of a football fixture. The first part of the market represents a home team win, the second a draw and the third an away victory.
If you’re just getting started with football betting, I recommend you stick to this market as it’s the easiest to understand and bet on. Once you’ve got this nailed, you can move on to football markets mentioned below.
Both teams to score
This football betting term is pretty self-explanatory. You’re simply betting on both teams to score at least one goal in a fixture.
You should generally expect the odds for this market to be quite low unless a fixture is likely to be incredibly one-sided.
Both teams to score + win
This football betting market is the same as the one above apart from you’re also selecting a certain team to win the fixture. You’ll get better odds than the market above as the outcome is slightly less likely.
Correct score
Another self-explanatory market, in this scenario you’re simply selecting what you think the final score of a football match will be. Guessing the correct score can be quite difficult so you can expect large returns if your bet wins.
Draw no bet
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A draw no bet is a football betting market that is voided if the fixture ends in a draw. In other words, your wager is returned if the game finishes level.
However, if your selected team wins or loses, the bet still stands. These markets are great for bettors who think a team may win but there’s also a chance of a draw.
Double chance
A double chance bet allows you to bet on a team winning or drawing a fixture. It essentially has two parts to the bet meaning you have two chances at winning. However, you should expect much lower odds than in the Win/Draw/Win market.
Half time/full time
A betting market where you bet on the outcome at half time as well as the outcome at full time in the game.
Football betting explained – goal markets
Next up in our football betting guide, we’ll look at some common goal markets you can expect to find at different bookmakers and betting exchanges.
First goalscorer
In this market, you’re betting on who you think will score the first goal of a game. You may find several promotions available on these markets, especially if leading goal scorers are in action.
Anytime goalscorer
Similar to the previous betting market, except you’re selection can score at any time during the fixture. The odds will be lower than in the previous goal market.
Handicap
A betting market that levels the playing field between strong and weaker opponents. The underdog is usually given a head start in terms of goals.
Team to score Yes/No
In this scenario, you’re betting on a certain team to score a goal at any point during the game. If you wish, you also usually have the option to select which half you think the outcome will occur in.
Scorecast/wincast
In this football betting market, you’re staking money on who will be the first goalscorer as well as the outcome of the fixture. As you can imagine, winning outcomes are quite unlikely meaning large returns if you land your bet.
Over/Under
Another popular betting market in the online football betting world. There are many different markets that the Over/Under category can be added to. However, here are some of the most common ones you’ll come across.
Over/under Goals
In this football betting market, you’re betting whether you think the actual number of goals will be over or under a certain number.
Over/Under Corners
Similar to the market above, you’re betting on the total number of corners during a fixture. You can select whether you think the number will be higher or lower than a certain figure.
As I mentioned earlier, the Over/Under market can be added to a huge range of categories meaning the potential options are endless.
You can also bet on other types of football market including outrights and specials. However, these markets are pretty self-explanatory.
Football betting terms
Here are a few more key football betting terms you may come across once you begin your betting journey.
Back bets
When you stake money on a certain outcome happening.
Bankroll
The amount of money you have in your theoretical betting balance.
Cash-out
A popular betting feature which enables punters to close and settle their bets before an event has finished.
Football betting explained – overview
That’s it for our football betting explained article.
Betting on football is one of the most exciting sports to place your wagers on. I hope this guide has helped explain the main key terms and information you’ll need to place winning bets in 2019.
Are we missing some key football betting information? Leave a comment below and we’ll update the article.
Action: Having a wager on a game.
ATS ('against the [point] spread'): If a team is 5-2 ATS, it means it has a 5-2 record against the point spread, or more commonly referred to simply as the 'spread.'
Backdoor cover: When a team scores points at the end of a game to cover the spread unexpectedly.
Bad beat: Losing a bet you should have won. It's especially used when the betting result is decided late in the game to change the side that covers the spread. Also used in poker, such as when a player way ahead in the expected win percentage loses on the river (last card).
Beard: Someone who places a wager for another person (aka 'runner').
Book: Short for sportsbook or bookmaker; person or establishment that takes bets from customers.
Bookie: A person who accepts bets illegally and charges vig.
Buying points: Some bookies or sportsbooks will allow customers to alter the set line and then adjust odds. For example, a bettor might decide he wants to have his team as a 3-point underdog instead of the set line of 2.5. He has then 'bought' half a point, and the odds of his bet will be changed.
Chalk: The favorite in the game. People said to be 'chalk' bettors typically bet the favorite.
Circle game: A game for which the betting limits are lowered, usually because of injuries and/or weather.
Closing line: The final line before the game or event begins.
Consensus pick: Derived from data accumulated from a variety of sportsbooks in PickCenter. The pick, and its percentage, provides insight as to what side the public is taking in a game.
Cover: The betting result on a point-spread wager. For a favorite to cover, it has to win by more than the spread; an underdog covers by winning outright or losing by less than the spread.
Dime: Jargon for a $1,000 bet. If you bet 'three dimes,' that means a $3,000 wager.
'Dog: Short for underdog.
Dollar: Jargon for a $100 bet. Usually used with bookies; if you bet 'five dollars,' that means a $500 wager.
Edge: An advantage. Sports bettors might feel they have an edge on a book if they think its lines aren't accurate.
Even money: Odds that are considered 50-50. You put up $1 to win $1.
Exotic: Any wager other than a straight bet or parlay; can also be called a 'prop' or 'proposition wager.'
Favorite: The expected straight-up winner in a game or event. Depending on the sport, the favorite will lay either odds or points. For example, in a football game, if a team is a 2.5-point favorite, it will have to win by three points or more to be an ATS winner.
Fixed: A participant in a particular game who alters the result of that game or match to a completely or partially predetermined result. The participant did not play honestly or fairly because of an undue outside influence.
Futures bet: A long-term wager that typically relates to a team's season-long success. Common futures bets include betting a team to win a championship at the outset of a season, or betting whether the team will win or lose more games than a set line at the start of the season.
Halftime bet: A bet made after the first half ended and before the second half begins (football and basketball primarily). The oddsmaker generally starts with half of the game side/total and adjusts based on what happened in the first half.
Handicapper: A person trying to predict the winners of an event.
Handle: The amount of money taken by a book on an event or the total amount of money wagered.
Hedging: Betting the opposing side of your original bet, to either ensure some profit or minimize potential loss. This is typically done with futures bets, but can also be done on individual games with halftime bets or in-game wagering.
High roller: A high-stakes gambler.
Hook: A half-point. If a team is a 7.5-point favorite, it is said to be 'laying seven and a hook.'
In-game wagering: A service offered by books in which bettors can place multiple bets in real time, as the game is occurring.
Juice: The commission the bookie or bookmaker takes. Standard is 10 percent. Also called the 'vig/vigorish.'
Layoff: Money bet by a sportsbook with another sportsbook or bookmaker to reduce that book's liability.
Limit: The maximum bet taken by a book. If a book has a $10,000 limit, it'll take that bet but the book will then decide whether it's going to adjust the line before the bettor can bet again.
Lock: A guaranteed win in the eyes of the person who made the wager.
Middle: When a line moves, a bettor can try to 'middle' a wager and win both sides with minimal risk. Suppose a bettor bets one team as a 2.5-point favorite, then the line moves to 3.5 points. She can then bet the opposite team at 3.5 and hope the favorite wins by three points. She would then win both sides of the bet.
Money line (noun), money-line (modifier): A bet in which your team only needs to win. The point spread is replaced by odds.
Mush: A bettor or gambler who is considered to be bad luck.
Nickel: Jargon for a $500 bet. Usually used with bookies; if you bet 'a nickel,' that means a $500 wager.
Oddsmaker (also linemaker): The person who sets the odds. Some people use it synonymous with 'bookmaker' and often the same person will perform the role at a given book, but it can be separate if the oddsmaker is just setting the lines for the people who will eventually book the bets.
Off the board: When a book or bookie has taken a bet down and is no longer accepting action or wagers on the game. This can happen if there is a late injury or some uncertainty regarding who will be participating.
Over/under: A term that can be used to describe the total combined points in a game (the Ravens-Steelers over/under is 40 points) or the number of games a team will win in a season (the Broncos' over/under win total is 11.5). Also used in prop bets.
Parlay: A wager in which multiple teams are bet, either against the spread or on the money line. For the wager to win (or pay out), all of them must cover/win. The more teams you bet, the greater the odds.
Pick 'em: A game with no favorite or underdog. The point spread is zero, and the winner of the game is also the spread winner.
Point spread (or just 'spread'): The number of points by which the supposed better team is favored over the underdog.
Proposition (or prop) bet: A special or exotic wager that's not normally on the betting board, such as which team will score first or how many yards a player will gain. Sometimes called a 'game within a game.' These are especially popular on major events, with the Super Bowl being the ultimate prop betting event.
Push: When a result lands on the betting number and all wagers are refunded. For example, a 3-point favorite wins by exactly three points. Return on investment (ROI): In PickCenter, ROI is the amount (according to numberFire) that a bettor should expect to get back on a spread pick.
Runner: Someone who makes bets for another person (aka 'beard').
Sharp: A professional, sophisticated sports bettor.
Spread: Short for point spread.
Square: A casual gambler. Someone who typically isn't using sophisticated reasoning to make a wager.
Steam: When a line is moving unusually fast. It can be a result of a group or syndicate of bettors all getting their bets in at the same time. It can also occur when a respected handicapper gives a bet his followers all jump on, or based on people reacting to news such as an injury or weather conditions.
Straight up: The expected outright winner of the money line in an event or game, not contingent on the point spread.
Teaser: Betting multiple teams and adjusting the point spread in all the games in the bettor's favor. All games have to be picked correctly to win the wager.
Total: The perceived expected point, run or goal total in a game. For example, in a football game, if the total is 41 points, bettors can bet 'over' or 'under' on that perceived total.
Tout (service): a person (or group of people) who either sells or gives away picks on games or events.
Underdog: The team that is expected to lose straight up. You can either bet that the team will lose by less than the predicted amount (ATS), or get better than even-money odds that it will win the game outright. For example, if a team is a 2-1 underdog, you can bet $100 that the team will win. If it wins, you win $200 plus receive your original $100 wager back.
Vig/vigorish: The commission the bookie or bookmaker takes; also called the 'juice.' Standard is 10 percent.
Horse Betting Terminology
Wager: A bet.
Horse Racing Betting Terminology Explained
Welch: To not pay off a losing bet.
Sports Betting Terminology
Wiseguy: A professional bettor. Another term for a 'sharp.'