Betting Glossary

When it comes to betting, you will hear a lot of unique terms thrown around. Some of these you may know and be familiar with, some of them may leave you scratching your head. The Betting Tools A-Z glossary of terminology is here to help you make sense of all the lingo.

Below you will find the most commonly used terms and phrases and a simple to follow explanation of what it means.

A

    • Accumulator: A series of bets on multiple outcomes, all outcomes must be successful for the Punter to win the bet.
    • Ante Post: Bet that takes place well before an event which includes all possible participants. If the selection becomes a ‘non-runner’ the bet is lost.
    • Arb: A bet that locks in a guaranteed profit, whatever the outcome.
    • Asian Handicap: A football bet that gives the least likely winner a head start to make betting more competitive.

B

    • Banker: A bet that is considered to be a near certainty.
    • Bookmaker: A bookmaker, or a bookie, is a person or an organisation that accepts and pays out bets on sporting and other events at agreed-upon odds.

C

    • Canadian: A bet on five selections covering doubles, trebles, fourfolds and a fivefold.D
    • Double: A bet on two horses where both are required to win.
    • Drifter: A horse whose odds are getting bigger due to lack of support in the betting.

E

    • Each-way: A bet on a horse to place as well as win. Place terms depend on number of runners and type of race.

F

    • Fourfold: A bet on four horses where all are required to win.
    • Free Bet: A welcome offer that most bookies give when you join as a new customer.

H

    • Hedging: Backing another outcome in an event you have already bet on to decrease the risk involved.
    • Heinz: A bet on six selections covering doubles, trebles, fourfolds, fivefolds and a sixfold.

L

    • Lay: Betting on something not to happen, for example a team not to win.
    • LSP: Level Stakes Profit. The amount of profit that would have been made if all stakes had been 1 unit.

N

    • NAP: A tipster’s best bet of the day.

O

    • Odds on: Betting on an outcome that is odds on results in the profit of the bet being less than the original stake i.e. less than evens (2.0).
    • Over-round: The margin the bookmaker builds into their odds to ensure they make a profit on an event.

P

    • Patent: A bet on three selections that covers seven bets, three singles, three doubles and a treble.

R

    • ROI: Return On Investment.
    • Round Robin: A bet on three selections containing ‘three pairs of singles stakes about’ bets, three doubles and one treble.

S

    • SP: Starting Price – the price of a horse when the race starts broadly based on an average of the on course bookmakers odds for the horse.

T

    • Tissue: A betting forecast designed to predict the odds of each runner in an event.
    • Treble: A bet on three outcomes where all are required to win.
    • Trixie: A bet on three selection which covers the three doubles and the one treble.

Y

  • Yankee: A bet on four selections that covers the six doubles, four trebles and one fourfold.