Betting glossary
Short, exact definitions with an example, each linking to the full explainer and to the calculator that goes with it.
Accumulator (acca)An accumulator is one bet on several selections in which every leg must win. The odds multiply, so the payout grows fast, and so does the chance of losing.American oddsAmerican odds show the profit on a stake of 100 when positive (+150) and the stake needed to win 100 when negative (−200). Evens is written +100.Anytime goalscorerAn anytime goalscorer bet wins if the player scores at least once in normal time, stoppage time included. Own goals do not count, and extra time rarely does.Asian goal lineAn Asian goal line is an over/under bet on a whole or quarter number of goals. A whole line can refund the stake, and a quarter line splits it across two lines.Asian handicapAn Asian handicap gives one team a start or a deficit in halves or quarters of a goal, so the draw is taken out and the bet has two outcomes rather than three.
Bet builderA bet builder combines several outcomes from one match into one bet. The legs are linked, so the bookmaker prices them together instead of multiplying odds.Betting exchangeA betting exchange is a market where bettors back and lay outcomes against each other. It takes a commission on net winnings instead of building in a margin.Betting unitA betting unit is a fixed standard stake, usually 1% to 2% of the money set aside for betting. Bets are sized in units, so results compare across bankrolls.Bookmaker margin (overround)A bookmaker’s margin, or overround, is how far a market’s implied probabilities add up past 100%. It is the built-in edge the bookmaker holds over the bettor.Both teams to score (BTTS)A both teams to score bet wins if each side scores at least one goal. The result does not matter: 1–1, 3–2 and 2–1 all win, while 2–0 loses.Brier scoreA Brier score grades probability forecasts: the average squared gap between each stated chance and what happened, 1 or 0. Lower is better, and 0 is perfect.
Cash outCash out is a bookmaker’s offer to settle a bet before the event ends, for a sum it sets. It locks a result, at a price that leaves the bookmaker a margin.Chasing lossesChasing losses is raising stakes, or betting more often, to win back money already lost. It turns a losing run into a big loss: a sign of problem gambling.Closing line value (CLV)Closing line value is how the price you took compares with the last price before the start. Beating the close regularly is the best early sign of a real edge.Correct scoreA correct score bet picks the exact score at the end of normal time. With so many possible scores the odds are long, and the bookmaker’s margin is usually wide.
Dead heatA dead heat is a tie for a winning or a placing position. The stake is divided by the number of runners tied, and that share is paid at the full odds.Decimal oddsDecimal odds are the total return for each unit staked, the stake included. 2.50 pays 2.50 for every 1, so a stake of 10 returns 25, a profit of 15.Double chanceA double chance bet covers two of the three results of a football match: home or draw, away or draw, or home or away. It wins if either of the two happens.Draw no betDraw no bet backs a team to win and refunds the stake if the match is drawn. It takes the draw out of a three-way market in exchange for a shorter price.DutchingDutching backs several selections in one event, with stakes sized so any of them winning returns the same profit. If none of them wins, the whole stake is lost.
Each-wayAn each-way bet is two equal bets: one to win and one to place at a fraction of the odds. A winner pays both parts; one that only places pays the place part.Edge (value bet)A bet has a positive edge when your probability times the decimal odds is over 1: the price pays more than the chance deserves. The edge is that, minus 1.European handicapA European handicap adds whole goals to one side before the result is settled, and keeps the draw as an outcome: a three-way market on the adjusted score.Expected goals (xG)Expected goals (xG) measure the quality of a team’s chances: each shot gets the probability that a shot like it is scored, and the shots are added up.Expected value (EV)Expected value is what a bet makes on average if placed many times: stake × (probability × decimal odds − 1). A positive EV means the odds beat the chance.
Favourite-longshot biasThe favourite-longshot bias is the finding that bets on long shots lose more per unit staked than bets on favourites: they win less often than their odds imply.Fractional oddsFractional odds show the profit over the stake. 5/2 pays 5 for every 2 staked, plus the stake back, and evens (1/1) doubles the stake.
Half-time/full-timeA half-time/full-time bet picks the result at half-time and at full-time together, from nine combinations such as draw/home or home/home.HedgingHedging is placing a second bet against one you already hold, so the result is the same whichever way the event goes. It locks a result and gives up the upside.
Lay betA lay bet is a bet that an outcome will not happen, made at a betting exchange. You take the other side of a back bet and pay out at the odds if it happens.Line shoppingLine shopping is comparing the price for the same bet across bookmakers and taking the best. Over many bets, a slightly better price makes a real difference.Live betting (in-play)Live betting, or in-play betting, is betting on an event after it has started. The prices move with the score, the clock and events such as a red card.
Odds-on and odds-againstOdds-on means a price shorter than evens, implying more than a 50% chance, so a win pays less profit than the stake. Odds-against is longer than evens.Over/under 2.5 goalsOver/under 2.5 goals is a bet on whether a match has three or more goals (over) or two or fewer (under). The half goal means the bet can never be a refund.
Point spreadA point spread gives the favourite a points handicap so both sides are close to even money. The favourite must win by more than the spread to cover.PushA push is a bet that lands exactly on its line, so it neither wins nor loses and the stake is returned. It can only happen on a whole-number line.
Single betA single is a bet on one selection. It wins if that selection wins and pays the stake times the decimal odds; nothing else on the slip can spoil it.System bet (Yankee, Lucky 15)A system bet is every multiple of chosen sizes across your selections, placed together. A Yankee is the 11 doubles, trebles and fourfold of four selections.