AccumulatorA single bet that links several selections together, where every selection must win for the bet to pay out.core
Arbitrage BettingPlacing bets on every outcome across different bookmakers whose combined implied probability is under 100%, locking in a small guaranteed profit whatever the result.advanced
Asian HandicapA handicap market that removes the draw by giving one team a head start or deficit, sometimes in quarter increments that split your stake across two lines.core
Back BetThe traditional bet that an outcome WILL happen, paired on an exchange with someone laying it.beginner
Bet BuilderA bet builder lets you combine several bets from the same match — such as the winner, the total goals, and a player to score — into one single bet that only pays out if every part wins.core
Bet SettlementThe process by which a bookmaker or exchange officially determines a bet's result and credits winnings or collects the stake.beginner
Betting ExchangeA peer-to-peer marketplace where bettors wager against each other by backing and laying outcomes, with the operator taking a commission instead of building in a margin.core
Bookmaker MarginThe bookmaker's built-in edge, seen when the implied probabilities of all outcomes in a market sum to more than 100%.core
Cash OutCash Out is a sportsbook feature that lets you settle a bet before the event finishes, taking a value the operator offers based on the current odds instead of waiting for the final result.core
Closing Line ValueThe difference between the odds you took and the final odds when the market closed, used as a proxy for whether you are beating the market.advanced
Correct ScoreA bet predicting the exact final score of a match, offering long odds because there are many possible outcomes.beginner
Double ChanceA single bet that covers two of the three possible outcomes in a match, lowering risk in exchange for lower odds.beginner
Draw No BetA bet on one team to win where a drawn result voids the wager and returns your stake.core
Each-WayOne bet split into two, a Win part and a Place part, so you can still collect if your selection finishes in the top few rather than first.core
Expected Goals (xG)A statistical model that assigns each scoring chance a probability of becoming a goal, summing to an estimate of how many goals a team should have scored.core
Fixed OddsA bet whose payout rate is locked in at the odds shown when you place it, no matter how the odds move afterwards.beginner
Futures / Ante-PostBets placed well in advance on an outcome decided later, such as a league or tournament winner, typically with money tied up for weeks or months.core
Handicap / LineA virtual advantage or deficit applied to a team or player to level an uneven contest, expressed as points or goals added to their final result.beginner
If-BetA linked sequence of wagers where each later bet is only placed if the previous one meets a stated condition, capping how much of your bankroll is ever at risk.advanced
In-Play BettingIn-play betting is placing a wager on a sporting event after it has already started, while the action is still in progress and the odds keep changing.core
Kelly CriterionA staking formula that sizes each bet in proportion to your edge to maximise long-term bankroll growth.advanced
Lay BetBetting that an outcome will NOT happen, effectively acting as the bookmaker by accepting someone else's backing stake.core
LayoffWhen a bookmaker reduces its own risk on a market by placing offsetting bets with other books or on an exchange.advanced
LiabilityLiability is the most money a bookmaker could be forced to pay out if a particular result comes in, based on all the bets already taken on that market.advanced
MoneylineA bet on which side simply wins the event, with no point spread or handicap involved — you just pick the winner.core
Odds Formats (decimal/fractional/american)The three main ways to express the same price, decimal, fractional and American, each convertible to the others and to an implied probability.beginner
Over/UnderA bet on whether a chosen total — such as the combined goals, points, or runs in a match — will finish above ("over") or below ("under") a number the bookmaker sets.core
OverroundThe bookmaker's built-in margin, visible when the odds across all outcomes of a market imply probabilities that add up to more than 100%.advanced
ParlayA parlay is a single bet that links two or more selections together, where every selection must win for the bet to pay anything.core
PleaserThe inverse of a teaser: you move each line against yourself to make it harder, in exchange for a much larger payout if every leg wins.advanced
Point SpreadA margin of points the sportsbook assigns to the favourite, who must win by more than that number for a bet on them to pay out.core
Prop BetA wager on a specific occurrence within an event that is not tied to the final result or main spread, such as a player's stats or the number of corners.beginner
Round RobinA wager that automatically generates every smaller parlay combination from a list of selections, so some picks can lose and you still get a return.advanced
Same-Game ParlayA single bet combining multiple related selections from one match, priced with a correlation adjustment rather than as independent legs.core
Sharp vs SquareIndustry shorthand for sophisticated, winning bettors (sharps) versus casual recreational bettors (squares), whose patterns bookmakers read differently.core
SportsbookA sportsbook is a business, or the product it runs, that accepts and settles bets on the outcomes of sporting events.beginner
Spread Betting (financial-style)A form of betting where you buy or sell a quoted market and your profit or loss scales with how far the result finishes from the spread, potentially exceeding your original stake.advanced
Steam MoveA sudden, sharp and widespread movement of a betting line across many bookmakers, usually driven by a wave of professional or syndicate money.advanced
TeaserA US-sports multi-leg bet that lets you move each point spread or total in your favour for a reduced combined payout, with every leg required to win.advanced
Total (Over/Under line)A market on the combined total of a countable quantity, such as goals, points or corners, where you bet whether the actual figure lands over or under the bookmaker's number.beginner
Trading (Sportsbook)The ongoing work of setting and adjusting a sportsbook's odds so that, whatever the result, the operator keeps its risk under control.advanced
Value BetA bet whose true probability of winning is higher than the probability implied by the odds, giving it positive expected value.core
VigThe vig is the commission a sportsbook builds into its odds so that the prices for a market add up to more than 100%, giving the book its margin.advanced
Void / PushA bet that is cancelled with the stake refunded: 'void' for a nullified bet, 'push' when a result lands exactly on the line.beginner
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