Betting Glossary Section

As this is a new site, the glossary will be a little thin. We would therefore like your help! If you would like to add another term to the glossary, please fill in the short form below.

Fixed Odds

Accumulator

A bet on a combination of several results all happening.

Betting Exchanges

An alternative to traditional bookmakers. A betting exchange matches people wanting to lay a bet with people wanting to back it, giving the public the opportunity to act as the bookmaker. The most popular of these sites is www.Betfair.com

Double

At bet on two selections. A accumulator of just two results.

Each way

A bet on your selection being place (ie. finishing near the top). For example, an each way bet on a 12/1 selection where the each way terms are 1/3rd the odds for top 4 finish would be one bet on the win at 12/1 and one bet on a top 4 finish at 4/1.

Evens
Effectively 1/1 odds. If you bet £10, a winning bet will return £20, (£10 winnings + your stake of £10). These odds should indicate that the event has a 50% chance of occurring.

Favourite

The most likely to win and the shortest price.

Fold

Indicates the number of selections in an accumulator bet. For example, a six fold would be an accumulator bet consisting of six selections.

Fractional Odds
Odds are displayed in a number of ways - fractional is the standard method in the UK. As you would imagine, it is displayed as a fraction (such as 2/1) with the first number being the winnings and the second being the stake neccessary to get those winnings.

e.g's

with 2/1 if you stake £10, you would win £20, as well as having your £10 returned (leaving you with a final balance of £30.

with 2/5 if you stake £50, you would win £20, as well as having your £50 returned (leaving you with a final balance of £70.

Hedge

To bet against your original selection. For example, you bet on Arsenal to win the FA cup at 8/1. They reach the final and their price is now 1/2, by betting on their opponents in the final you will be guaranteed a win whatever the final result. This is known as hedging your bets.

Lay

Laying a bet is backing that selection to fail to win. For example laying Man Utd to win the premiership means people back them at your odds. If they fail to win you keep their stake, if they do win you will have to pay out on that bet. This is usually the role of the bookmaker.

Odds On
Means that the odds offered are less than evens (1/1) - it should indicate the event has a higher than 50% chance of occurring. In fractional odds, the second number will be higher than the first number, e.g. 1/2 or 2/7. This can also be written as 7/2 on.

Outsider

A participant in an event with a very small chance of winning. This will be reflected in an outsider’s long odds.

Placed

Being ‘placed’ means coming 2nd, 3rd, 4th, etc depending on the number of participants in an event.

Single

A bet on just one result.

Stake

The stake is the amount of money you are betting on a particular result. It’s the amount paid to the bookmaker and if the result is not what predicted, it is lost. The stake is returned on a winning bet.

Treble

A bet on three selections, an accumulator of three results.

Spread Betting

Buy

Betting that the result will be higher than the quote. This bet is placed at the highest quoted figure. Eg if the quote is 30-32, the buy is at 32.

Closing a bet

Where you place a second bet of the same amount on the opposite outcome, resulting in a guaranteed profit / loss whatever the final result.

In-running

Where prices change during a match or event to reflect the latest state of play.

Index bet

Bets constructed around the awarding of points for performance or progress in an event.

Long or Short term Market

The length of time an event lasts. A bet on season points for a football team is a long term market as the final result won’t be know until the end of the season while a supremacy bet is short term market.

Make up

The make up is the final result at which the bet is closed. The difference between the make up and the price at which you placed you bet will produce your profit/loss (when multiplied by your stake)

Match bet

A bet on which of two participants will perform best, regardless of how they do overall in the event, or the performance of other participants in the same event. For example a match bet between two golfers.

Maximum make up

Some bets have maximum make up. This is the maximum amount allowed for the final result. For example, say there was a spread of 120-124 and a maximum make up of 200. Even if the final result was 240, the 200 figure would be used to calculate your profit / loss. This will limit potential profits / losses on the event.

Sell

Betting that the result will be less than the quote. This bet is placed at the lowest quote figure. Eg. If the quote is 30-32, the sell is at 30.

Spread

The difference between the high (buy) and low (sell) prices

Stake

The amount per point, per goal, per run etc. You choose the stake when placing the bet.

Stop loss

A specific level at which some bets are closed to prevent open-ended loss or profit.

Supremacy

The expected margin of victory.

Volatility

High volatility indicates a market with a high number of points involved e.g. runs in a cricket match. While a low scoring sport, such as goals in a football match, will be low volatility. The more volatile the market, the larger the potential profit and loss will be relative to the stake.

Your choice

Where there is no favourite and the price is equal for both outcomes you are invited to nominate the favourite when placing your bet.