Guide to Betting Terminologies: Unravelling the Language of Gambling

Welcome to our ‘Guide to Betting Terminologies.’ If you’ve ever found yourself befuddled by the jargon used in gambling, or if you’re a seasoned pro looking to brush up on your knowledge, this guide is for you. We will unravel the complex language of gambling, making it more accessible and understandable.

Types of Bets

1. Accumulator: This is a single bet that links together two or more individual wagers for a high payout. The benefit is that the returns can be significant, but all bets must win.

2. Ante-Post Betting: This refers to betting placed in advance of the event. It’s common in horse racing, where bets are placed on the outcome of a future race.

3. Arbitrage: This is a betting strategy where you place bets on all possible outcomes of an event at odds that guarantee profit, regardless of the result.

4. Asian Handicap: A type of wager where a handicap is applied to the selection. The aim is to level the playing field between two mismatched opponents.

5. Compound Interest Bet: This is a betting strategy where your winnings are reinvested on subsequent bets.

6. Moneyline Bet: A type of bet where you choose which team or player will win a match or event. It’s one of the most straightforward types of bets.

7. Over/Under Bet: This involves betting on whether the total number of points or goals will be over or under a specified number.

8. Parlay Bet: Similar to an accumulator, a parlay is a single bet that links together two or more individual wagers for a high payout.

9. Prop Bet: Short for proposition bet, this is a bet on a specific aspect of a sports event that is not related to the final outcome.

10. Futures Bet: This is a bet placed on an event that will take place in the future, like who will win the next Super Bowl.

11. Total Bet: Similar to an over/under bet, this involves betting on the total number of points or goals in a game.

12. Straight Bet: This is a bet on a single outcome of an event. The bettor must correctly predict the outcome to win.

13. Double Chance: This is a bet that allows you to cover two of the three possible outcomes in a football match with one bet.

14. Correct Score: This is a bet on the exact final score of a game.

15. Draw No Bet: This is a bet where your stake is returned if the game ends in a draw.

16. Half Time/Full Time: This is a bet on the result of a game at both half-time and full-time.

17. Scorecast: This is a bet where you need to correctly predict the first goalscorer and the correct score of the game.

18. Both Teams to Score (BTTS): This is a bet on whether both teams will score in the match.

19. First Goalscorer: This is a bet on who will score the first goal in the match.

20. Anytime Goalscorer: This is a bet on a player to score at any time during the match.

21. In-Play Betting: Also known as live betting, this involves placing bets on an event while it’s ongoing.

22. Against the Spread (ATS): This is a bet where you’re betting on the point spread. The team you bet on must “cover the spread,” meaning they must win or not lose by a predetermined margin of points.

23. Dime Bet: This is a bet of $1000.

24. Future Bets: These are bets placed on events that will take place in the future, such as who will win the next Super Bowl.

25. In-game wagers or Live Betting: This involves betting on a game while it’s in progress. The odds change dynamically based on the state of the game.

Betting Strategies and Concepts

26. Dual and Triad Markets: These refer to betting markets where outcomes are grouped in twos or threes, offering more betting possibilities.

27. Advantageous Gambling: This is a betting strategy where the player seeks to exploit any edge available to make a profit.

28. All-In Bets: This refers to a bet where you put all your available money on a single wager.

29. All-Out Effort: This term is used to describe a situation where a team or player is putting maximum effort into winning.

30. All-Weather Racing: This refers to horse racing that takes place on an artificial surface, which can be used in all weather conditions.

31. Banker: In betting, a banker is a selection that a bettor believes is a sure win.

32. Bar: This term refers to the odds of the selections at the last listed price in any event.

33. Bettor: This is another term for a person who places a bet.

34. Blind Bet: A bet made without looking at one’s cards, often in poker.

35. Bookmaker: A person or company that accepts and pays out bets on sporting and other events.

36. BOG: Stands for ‘Best Odds Guaranteed’, a promotion offered by bookmakers on horse racing.

37. Canadian: A bet consisting of 26 bets involving 5 selections in different events.

38. Card Counting: A strategy used in blackjack to determine whether the next hand is likely to give a probable advantage to the player or the dealer.

39. Co-Favourite: This is when there are two or more favorites in a betting market.

40. Drift: When the odds on a selection increase due to lack of support.

41. Drifter: A selection whose odds are increasing.

42. Each Way: A bet where half the total stake is for the selection to win and half is for the selection to place.

43. Evens: This is when the potential winnings from a bet are exactly equal to the stake.

44. Favourite: The selection considered most likely to win an event.

45. Fold: This refers to the number of selections in an accumulator.

46. Handicap: A system used by bookmakers to make a one-sided event become a more competitive betting proposition.

47. Hedging: A betting strategy that involves placing bets on different outcomes to guarantee a profit regardless of the result.

48. Lay: This is when you bet against a certain outcome.

49. Liability: The amount of money a bookmaker stands to lose on a particular market.

50. Market: This refers to the betting opportunities offered by a bookmaker on a particular event.

51. Martingale: A betting system where you double your bet after each loss in hopes of recouping previous losses and gaining a small profit.

52. Outsider: A selection that is not expected to win.

53. Over-Round: This is when the bookmaker’s margin is factored into the odds, ensuring they make a profit.

54. Patent: A bet involving three selections and seven bets.

55. Placepot: A tote bet requiring a punter to select a placed horse in each of the first six races at a particular meeting.

56. Punter: Another term for a person who places

57. Rag: This is a term used to describe the outsider or least likely selection in a race or event.

58. Spread Betting: A type of betting where the bookmaker predicts a range for a variable (like the number of goals in a football match), and the punter bets on whether the actual number will be higher or lower.

59. Steamer: A selection whose odds are getting shorter, usually due to heavy betting.

60. Underdog: The team or individual that is expected to lose a sporting event.

61. Value: This refers to getting the best odds on a betting proposition.

62. Winning Margin: A bet where you predict the margin of victory in a game.

63. Yankee: A bet consisting of 11 bets involving 4 selections in different events.

64. Yearling: A young horse, usually between one and two years old.

65. Zonal Marking: A defensive strategy in football where defenders cover an area of the pitch rather than marking a specific opponent.

66. Zero Game: A bet on the numbers closest to zero on a roulette wheel.

67. Overlay: When the odds offered by the bookmaker are greater than the expected probability.

68. Underlay: The opposite of an overlay, when the odds are less than the expected probability.

69. Quintuple: A bet involving five selections.

70. Quinella: A bet where the punter must select the first two finishers in a race, in any order.

71. Nap: The best bet of the day from a tipster.

72. Non-Runner: A horse that was originally meant to run in a race but for some reason did not start.

73. Overround: The bookmaker’s profit margin built into the odds.

74. Treble: A bet involving three selections.

75. Trixie: A bet consisting of four bets involving three selections in different events.

76. Vigorish: The commission taken by the bookmaker on bets.

77. Void Bet: A bet that is declared invalid for any reason.

78. Wincast: A bet where you must predict both the winner of a game and a player to score a goal.

79. Wager: Another term for a bet.

80. X-Bet: A type of bet that is not straightforward and requires a specific event to happen.

81. Xpressbet: An online platform for betting on horse racing.

82. Z-Code: A betting system that provides predictions and tips based on statistical analysis.

83. Z-Bet: A bet placed on a specific outcome in a sporting event.

84. Juice: Another term for the bookmaker’s commission.

85. Push: When a bet results in a tie, and the original stake is returned to the bettor.

86. Betting Edge: The advantage a bettor has over the bookmaker.

87. Even Money: A bet where the potential winnings are the same as the stake.

88. Handle: The total amount of money wagered on a game.

89. Handicapping: The process of assigning advantage through scoring compensation.

90. Hook: A half-point in the betting spread.

91. Betting Limit: The maximum bet accepted by a bookmaker.

Sports Betting Terms

92. Zonal Marking: A defensive strategy in football where defenders cover an area of the pitch rather than marking a specific opponent.

93. Offside: A rule in football that penalizes players for being closer to the opponent’s goal than the ball and the second last opponent when the ball is played to them.

94. Over/Under: A type of bet where the wager is on whether the total number of points or goals scored by both teams during a game will be over or under a specified number.

95. Spread Betting: A form of wagering on the outcome of an event, where the pay-off is based on the accuracy of the wager, rather than a simple win or lose outcome. The spread refers to the range of outcomes, and the bet is whether the outcome will be above or below the spread.

96. Moneyline: A wager on which team will win a game, with the terms being set by the odds on the game. Unlike point spread bets, there’s no handicap to cover – your team just needs to win.

97. Parlay: A single bet that links together two or more individual wagers for a high payout. The benefit of the parlay is that there are much higher payoffs than placing each individual bet separately.

98. Prop Bet: Short for proposition bet, it is a wager on specific aspects of a match that are not directly related to the final outcome. Examples include betting on which team will score first, or the total number of yellow cards in a football match.

99. Futures: Long-term bets on the outcome of a future event or series of events. This could be betting on who will win the Super Bowl at the start of the football season, or who will win the World Series before the baseball season starts.

100. Vigorish: Often just called the vig or the juice, it is the price a sportsbook charges for accepting a bet. It’s typically factored into the odds, so you don’t pay it explicitly.

101. Handle: The total amount of money wagered on a game or event. It’s a term used by sportsbooks to measure how much action they are booking.

102. Sharp: Also known as a professional bettor, is someone who is considered to have an elevated understanding of sports betting. Sharps often have sophisticated models for betting and are watched closely by sportsbooks.

103. Square: A casual or novice bettor. They are the opposite of sharps and are less sophisticated in their betting strategies.

104. Steam: A sudden, rapid shift in betting lines as a result of heavy betting action, usually from professional bettors or betting syndicates.

105. Chalk: A term for the favored team or athlete in a game or event. If you’re “betting the chalk,” you’re betting on the favorites.

106. Pick’em: A game or event where the teams or athletes are so evenly matched that the sportsbook does not set a betting line.

107. Push: A betting term for a tie in a sports betting event. When a push occurs, the sportsbook refunds the bettor’s original wager.

108. Teaser: A type of bet that allows the bettor to adjust the point spread or totals line in their favor in exchange for reduced odds.

109. Total: Also known as the over/under, is the predicted combined score of both teams in a game. Bettors can wager on whether the actual combined score will be over or under the predicted total.

110. Underdog: The team or athlete expected to lose an event. Betting on the underdog offers a higher payout due to the perceived risk.

111. Wager: Another term for a bet. It refers to the money risked on a game or event.

112. Yield: Refers to the return on a bettor’s investment. It’s calculated by dividing the profit by the total amount wagered.

Casino and Poker Terms

113. Casino Terms: These are specific terminologies used in the casino world, such as “house edge” (the mathematical advantage that the casino has over the players), “high roller” (a player who bets large amounts), and “jackpot” (the highest prize that can be won in a game).

114. Poker Terms: These are terminologies specific to the game of poker, such as “bluff” (to make a bet or raise with a weak hand), “call” (to match the current bet), and “fold” (to forfeit interest in the pot).

115. Slots: These are casino games where players try to line up symbols on a spinning reel to win prizes.

116. Slot Machines: These are machines that offer slot games, where players bet on the outcome of the spinning reels.

117. Casino Games: These are games offered in a casino, such as poker, blackjack, roulette, and slots.

118. Jackpot: This is the highest prize that can be won in a game.

119. Free Slots: These are slot games that can be played for free, often for practice or fun.

120. Bonus: This is an extra reward offered by casinos, often for signing up or making a deposit.

121. Roulette: A casino game where players bet on where a ball will land on a spinning wheel.

122. Slot Games: These are games played on slot machines, where players bet on the outcome of the spinning reels.

123. Casino Royale: This is often used to refer to a high-class, luxurious casino. It’s also the title of a James Bond novel and film.

124. Video Poker: A casino game that combines elements of poker and slot machines.

125. Hollywood Casino: This is a popular casino brand with locations across the United States.

126. Poker Hands: These are the different combinations of cards that can be made in a game of poker, such as a pair, two pair, three of a kind, straight, flush, full house, four of a kind, straight flush, and royal flush.

127. Texas Holdem Poker: A popular variation of poker where each player is dealt two private cards, and five community cards are dealt face-up on the “board”.

128. Poker Online: This refers to playing poker on an internet platform.

129. Texas Holdem: A popular variation of poker that is often played in poker tournaments.

130. Poker Star: This term is often used to refer to a highly skilled and successful poker player.

131. Poker Games: These are different variations of the game of poker, such as Texas Holdem, Omaha, Seven-Card Stud, and Five-Card Draw.

General Gambling Terms

132. General Gambling Terms: These are terms that are commonly used in the gambling world, such as “odds” (the likelihood of a particular outcome), “stake” (the amount of money wagered), and “payout” (the amount of money won from a bet).

133. Las Vegas Shows: These are entertainment shows held in Las Vegas, often in the city’s many casinos and resorts.

Online Gambling Terms

134. Online Games: These are games that are played over the internet, often on computers or mobile devices.

135. Online Lotto: This refers to playing lottery games over the internet.

136. Online Casino: This is a casino that operates over the internet, allowing players to play games and place bets online.

137. Online Poker: This refers to playing poker over the internet.

138. Online Slots: These are slot games that can be played over the internet.

Online Casinos

Sports Teams (Popular in Betting)

139. Ravens (NFL): The Baltimore Ravens are a professional American football team based in Baltimore. They compete in the National Football League (NFL) as a member club of the American Football Conference (AFC) North division.
140. Orioles (MLB): The Baltimore Orioles are an American professional baseball team based in Baltimore. They compete in Major League Baseball (MLB) as a member club of the American League (AL) East division.
141. Commanders (NFL): The Washington Commanders are a professional American football team based in the Washington metropolitan area. They compete in the National Football League (NFL) as a member club of the National Football Conference (NFC) East division.
142. Capitals (NHL): The Washington Capitals are a professional ice hockey team based in Washington, D.C. They compete in the National Hockey League (NHL) as a member of the Metropolitan Division of the Eastern Conference.
143. Wizards (NBA): The Washington Wizards are a professional basketball team based in Washington, D.C. They compete in the National Basketball Association (NBA) as a member of the league’s Eastern Conference Southeast Division.

eSports Terms

144. First Blood: This term is used in esports, particularly in games like Dota 2 and League of Legends, to refer to the first kill of the game. Bets can be placed on which team will get the first kill.
     
145. Map Winner: In esports, games are often played in a series of maps. A map winner bet is a wager on which team will win a specific map within the match.
     
146. Match Winner: This is a bet on which team will win the match. In eSports, a match usually consists of a series of games or maps.
     
147. Handicap Betting: Similar to traditional sports, handicap betting in esports involves giving one team a virtual advantage or disadvantage. This evens out the odds when one team is heavily favored.
     
148. Over/Under: In esports, over/under bets could refer to a variety of things depending on the game, such as the total number of kills in a match or the total number of rounds played.
     
149. Futures: Futures bets in esports work the same way as they do in traditional sports. You’re betting on the outcome of a future event, such as who will win a tournament.
     
150. Live Betting: Also known as in-play betting, this allows you to place bets while an esports match is ongoing. This can include bets on things like who will win the next round or who will get the next kill.
     
151. Prop Bets: Short for proposition bets, these are wagers on specific events within a match that don’t necessarily relate to the final outcome. In esports, this could include things like which team will destroy the first tower in a game of Dota 2 or League of Legends.
     
152. Total Rounds: A bet on the total number of rounds that will be played in a match. This is particularly common in games like Counter-Strike: Global Offensive.
     
153. Correct Score: A bet on the exact final score of a match. In a best-of-three series, for example, you could bet on a team to win 2-0.
     
154. Group Winner: In esports tournaments, teams are often divided into groups in the early stages. A group winner bet is a wager on which team will come out on top of their specific group.
     
155. Region of Winner: A bet on the region (North America, Europe, Asia, etc.) the winning team will come from.
156. Outright Winner: A bet on which team will win the entire tournament. This is typically placed before the tournament begins.
     
157. MVP: A bet on which player will be named the Most Valuable Player of a tournament or match.
     
158. Skin Betting: A controversial form of betting where virtual goods from games (known as “skins”) are used as a form of currency for betting.
     
159. Head-to-Head: A bet on the outcome of a match between two players or teams.
     
160. Draw: A bet on the match ending in a draw. This is more common in games where draws are a possible outcome, such as Hearthstone or certain modes in Call of Duty.
     
161. Top Fragger: This term is used in esports, particularly in first-person shooter games, to refer to the player with the most kills. Bets can be placed on who will be the top fragger in a match or tournament.
     
162. Pistol Round: In games like Counter-Strike: Global Offensive, the first round of each half is known as the pistol round. Bets can be placed on which team will win the pistol round.
     
163. Knife Round: In some eSports, particularly Counter-Strike: Global Offensive, the knife round is used to decide which team starts on which side of the map. Some betting sites offer markets on the outcome of the knife round.
     
164. Economy: In certain esports, particularly Counter-Strike: Global Offensive, the economy refers to the in-game resources that teams have to buy weapons and equipment. Some betting markets may focus on the economy, such as which team will reach a certain amount of money first.
     
165. Clutch: A clutch is when a player successfully wins a round while being the last member alive on their team. Bets can sometimes be placed on the number of clutches a player or team will have in a match.
     
166. Ace: An ace is when a single player eliminates all members of the opposing team during a round. Some betting markets may offer odds on a player or team scoring an ace.
     
167. Eco Round: An eco round, short for economy round, is a strategy where a team will buy very little or no equipment in a round to save money for future rounds. Some betting sites offer markets on the number of eco rounds in a match.
     
168. Force Buy: A force buy is a round where a team spends all of their money on equipment, despite not having enough for a full arsenal. This is a high-risk, high-reward strategy that can sometimes be the focus of betting markets.
     
169. Save Round: A save round is similar to an eco round, where a team will buy very little or no equipment in order to save money for future rounds. Some betting sites offer markets on the number of save rounds in a match.
     
170. Entry Frag: The entry frag is the first kill of a round, usually achieved by the attacking team. Some betting markets may offer odds on which player or team will get the entry frag.