Understanding sports betting terms | A – Z sportsbook Terminology explained!
When you first enter the world of online sports betting, you may be at a loss for all of the terminology thrown your way. What are different types of wagers called? How do you place them? Each of these questions and so many more may be brimming in your mind.
Some of the most popular forms of sports betting online include horse racing betting and football betting. That’s why we’re going to hash out the most important terminology related to these wagers, odds, and more in today’s guide.
Continue reading along as we discuss terms such as handicap bets, closing lines, fixed odds, head-to-head betting, Wincast betting, ante-post, horizontal wagering, exotic wagering, and so many more. Let’s get into the glossary of terms!
Sports Betting Terminology
Understanding the full scope of sports betting terminology can be difficult, even if you’ve been wagering for a while. But familiarizing yourself with words and phrases like “vigorish”, “bankroll”, or “edge” can help you to become a knowledgeable bettor with a deeper understanding of how the odds and wagers work in different scenarios.
Although you don’t necessarily need to know every term out there – and most people don’t – it’s good to brush up on the terms that relate to the type of betting you do.
For example, if you’re specifically into wagering on horse races, then you need to know horse racing terminology. But if it’s parlay football wagers that you’re into, then you need to know the odds terms and other phrases related to that.
Football Betting Sportsbook Terminology
First, take a look at important terminology within football betting. These phrases and keywords have to do with the odds, types of wagers, bonuses, and other aspects of football betting online.
ACCA Bet
Also known as accumulator bets – you combine 4+ football bets (legs) into one wager and must have all legs win to win the bet.
After Extra Time
AET is a type of odds in live football betting, posted if extra time is added at the end of the match.
Asian Handicap
This is a type of football spread betting where the so-called “better” team has a slightly larger spread to cover in order for you to win a bet placed on them.
Bankroll
The money a punter allots for betting.
Closing Line
Refers to the football line before its odds have been set.
Combo Betting
Betting where you combine football wagers for higher stakes – can be cross-sport, same-sport, or same-game.
Correct Score Wagering
A high-stakes bet where you have to correctly predict the final score of a match.
Cover
This refers to a spread bet where the favorite football team wins the match and scores enough goals to surpass the spread.
Draw No Bet
A money back wager on football matches ending in a draw.
Double Chance Betting
Football wagering where you bet on variations of outcomes and your money can double if your pick(s) win.
Each-Way
A way to place a football futures bet – bettors place 2 equal stakes on a team to win and a team to place. Unlike a combination, you can still get a return if only one part wins.
Favorite
The “better” team or competitor, posted with negative odds.
Fixed Odds
A type of betting where the odds are set as soon as you wager and the potential payout is unwavering.
Full-Time Result Wagering
Football wager that doesn’t consider any penalty or overtime – just the score directly following the 2nd half.
Futures
This is a wager on the overall winner of a tournament. For example, in football betting, you might wager on the FIFA World Cup winning team long before the championship match occurs.
Half Ball Handicap
This is football spread betting where the spread is specifically 0.5+/- goals.
Half-Time/Full-Time Wagering
A football wager involving 2 bets – one to predict the outcome directly after the first half and one to predict the outcome directly after the second half.
Head-to-Head
A matchup wager where you try to predict which player will perform better than another specific player (i.e. who will have more goals?, who will have more assists?).
Live Betting
When you wager on a football match after the clock has started.
Over/Under
Bets on football match statistics like goals, saves, etc. where you try to predict if the actual number will fall above or below the “total”.
Return on Investment
A percentage calculated by dividing your betting profit by the cost of investment.
Scorecast Bet
A combo bet – the punter must wager on the “first”, “last”, or “anytime” player they think will score a goal in the match AND predict the correct score of the match. To get a payout, you have to be correct about both.
Sharp
A professional bettor.
Single Wagering
Unlike ACCA wagering, you just have to correctly predict the outcome of one football match to get a payout.
Specials
Also known as props, specials are non-outcome based bets, such as Will the match end in overtime? or which team will score the first goal of the World Cup?.
Spread Betting
Betting on the margin of victory/loss in a football match. The favorite must win and cover the spread for a bet on them to win, and the underdog merely has to cover the spread for a bet on them to win.
Square
A casual or novice bettor.
Stake
This refers to how much money a punter risks when betting.
Straight
A money line, spread, or total wager.
Team to Go Through
In between a money line and a future – you bet on which football team you believe will progress further within a tournament or Cup.
In football betting, when you have multiple bets on a wager and you adjust the point spread, requiring wins across the board to win at all.
Three-Way Handicap Bet
Unlike the Asian handicap, this “European” handicap bet puts a handicap on one team, and the bettor has to wager one of three ways (win, lose, or draw) on them.
Ticket
A receipt confirming your football wager.
Underdog
The “worse” team or competitor, posted with positive odds and often greater potential winnings.
Vigorish
Also known as “vig” or “juice” – the commission that bookmaker’s earn on placed bets.
Wincast Bet
The bettor picks a “last”, “anytime”, or “first” player they think will score in a match. After doing so, the bettor must predict the final match result instead of the “correct score”.
Horse Racing Sports Betting Terms Explained
Horse racing betting is a form of sports betting in its own right. But the way that bets are placed and odds are set is fairly unique. Even the terminology differs when you compare this type of betting to, say, football betting online.
Abandoned Race
A horse race that gets called off due to unforeseen circumstances, such as weather conditions.
Across the Board
This is when you make a horse wager with 3 bets – to win, to place, and to show.
Also Ran Horse
This type of horse is one that competes in a horse race but doesn’t end up finishing in a paid position.
Ante-Post
This is when the bettor wagers on a race at least one day in advance.
Banker Horse
This is the horse that is thought most likely to win a race.
Box Bet
A horse racing bet that includes each possible combination of finishes in the race that applies to different types of wagers.
Brought Down Horse
This terminology refers to an instance where a horse falls in a race because of interference from another competing horse.
Daily Double Bet
This involves 2 bets – you must pick a winning horse for two back-to-back races.
Dead Heat Outcome
In horse racing betting, this outcome denotes a type of tie. When a clear winner can’t be declared, officials will call “dead heat”.
Deduction
If a scratching occurs, fixed odds bets can be deducted, with a rate based on the odds of the scratched selection at the time of removal from the market.
Each-Way Betting
A wager that is split evenly, the bettor selects a horse to finish either 1st or 2nd. If the horse does finish 1st, both bets payout. If the horse finishes 2nd, only one bet pays out.
Exacta Bet
This is a type of exotic bet in horse racing where the bettor has to predict which horses will finish in 1st and 2nd place. You also have to correctly predict the order of placement.
Exotic
This is a popular type of horse racing betting where the player must bet on multiple horses on a wager.
Futures Bet
Also known as an “outright” bet, a futures bet in horse racing is when you wager on a horse to win a culminating race involved in a championship-style event.
Hacked Up Horse
This phrase refers to when a horse wins a race without much difficulty at all.
Horizontal Wagering
This type of horse racing wager requires bettors to bet on a series of horse races – not just one. You are often picking the consecutive winners (examples include Pick 4, Pick 6, etc.).
Maiden Horse
This type of horse in horse racing is one that is yet to have won any races.
Marathon
This term refers to a horse race that’s longer than 1.25 miles.
Morning Line
A morning line is a list in horse racing including each entry for a given race, along with the estimated odds for each of those horses (before the final odds are determined).
Outsider Horse
This term refers to a horse who is expected to have a very low chance of winning a race.
Pick 3/4/6 Bet
Similar to a daily double, but you instead choose either 3, 4, or 6 consecutive winning horses.
Place Bet
You wager on a horse to finish either 1st or 2nd in their race.
Post Time
This term refers to the time that a race is scheduled to start at – basically, the time at which the horses should be lining up at the post.
Quinella Bet
A type of exotic bet in horse racing – the bettor selects 2 different horses they think will place in 1st and 2nd. The order doesn’t have to be predicted correctly to win a payout.
Show Bet
Similar to the place bet, but you wager on a horse to finish either 1st, 2nd, or 3rd in their race.
Straight Bet
Like a money line in sports betting, but you’re predicting which horse you think will win the race and take 1st place.
Superfecta Bet
This is a type of exotic bet in horse racing where the bettor has to correctly predict the top four finishing horses in a race. You must correctly predict the order of finishing as well.
Trifecta Bet
This is a type of exotic bet in horse racing where the bettor has to correctly predict the top three finishing horses in a race. You must correctly predict the order of finishing as well.
Triple Crown
Triple Crown refers to a specific horse racing series that includes the Preakness Stakes, Belmont Stakes, and the Kentucky Derby.
Turn of Foot
When you hear this term, it’s referring to the rate of acceleration for a horse as it’s trying to get further ahead of the horses behind it.
Wheel Bet
A horse racing wager combining several bets – players must pick a single horse to finish in a position for each bet and bet on other horses to finish in the other open position.
Summary – Sports Betting Terms
Sports betting terms aren’t quite as difficult to understand as they may seem at first. With the help of our guide to horse racing betting and sports betting terminology, hopefully you’re now better equipped to take on these gambling activities online.
Knowing what different terms related to odds, markets, and wagers mean can help you to make more informed bets and hopefully snatch a payout along the way. Peruse our glossary of terminology the next time you encounter a sports betting term that you don’t recognize!