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Betting terminology

Betting terminology

Betting office – a website enabling making a wager on different sport events. All the transactions are made through an electronic account.

Betting exchange – specialist service to make a bet among the users. Each better can offer their own outcome of a sport event or agree/disagree with the offered outcomes.

Bet or wager – financial resources used by the better to make a wager on any sport event.

Bank or pot – total sum of money the better possesses.

Bookmaker’s margin – the bookmaker’s profit.

Odds – a number expressing the likelihood of the chosen event outcome. The sum of the bet in case of winning is multiplied by it.

Outcome – one of the possible results of a sport event suggested by a bookmaker.

Inside – information about one definite event or a match result.

Winning or return – the sum transferred to the better’s account in case of their bet on the event outcome wins.

Loss – the sum the better loses in case of their bet on the event outcome lost.

Line – list of all the events to make a bet on in that office along with coefficients for each of them.

Strategy – a certain scheme in accordance to which the better should make wagers to earn money.

Ordinary bet – a bet on one of the match potential outcomes.

Pre-match bet - a bet made before the beginning of the match.

Live bet – a bet made during the match course.

Multiple bet – a combination of several ordinary bets made on different and not connected with each other events. All predictions comprising the express should not lose to gain a return on it. The winning coefficient is equal to product of all coefficients. If any of the bets lost the entire express lost as well.

System – a set of several expresses.

Double chance – a bet including two potential outcomes of the same match. The bet would win if either of the specified events happened. Coefficients on these bets are lower compared to the ordinary ones.

Total – a wager on the final amount of goals scored in the match. At the same time several bookmakers consider only the ninety minutes of the match while others include the stoppage time. That specifics should be considered before making a bet. There are two types of that bet: Total Above and Total Below. In the first case, the bet wins when the number of goals scored exceeds the amount specified and visa-versa. Total can be expressed with a whole or a fractional number. In case of the whole number the bet can be returned when the number of the goals scored is equal to the specified number which is impossible in case of a fractional number.

Individual total – a bet on the final result of either team.

Handicap – the advantage given to a weaker better. It can be expressed in minutes, points, etc. depending on the kind of sport. The handicap is expressed in the whole number (soft handicap as the bet can be returned) or in the fractional number (hard handicap). Bookmakers set the handicap to equalize chance of both teams to win which makes increase in the favorite’s winning coefficient possible.

Half/match – a bet on not only the match but on of the first half outcome as well. The bet wins if both wagers win. This bet coefficient is higher compared to the ordinary one.

Asian handicaps – a kind of handicap and total bets. Such values are expressed in factor 0.25 numbers and the bet is divided into two. For instance, TB (0.75) is, in fact, two bets: TB (0.5) and TB (1). The sum of the bet is equally divided between them. In that case the better has more chances to win as they gain a return even if one of the bets wins.

Triple handicap – bets on three potential outcomes of the event, i.e. on winning of the first team, a draw and the winning of the second team. At the same time, the bookmaker suggests any initial score of the match. It is a non-return bet.

Exotic – different specific wagers for instance, total yellow cards, which team scores more goals, what time goals would be scored, etc.

Corridor – two bets on the opposite events with different meanings. In some circumstances both of them could win.

Width of the corridor - the difference between the corridor meanings expressed in goals, minutes, points, etc.

Bets with advantages – bets for which the value of winning likelihood multiplied by a coefficient exceeds one. The better can increase the bankroll in a long run making these bets.

Middle – aggregate number of wagers on the opposite outcomes of the event made in different betting offices. At the same time the bets are chosen so that the better wins in eithe case.

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