Betting School

A type of bet whereby if the first bet wins, the winnings become the bet on the second bet; and so on (also known as a “Parlay”, “All Up” or “Multiples”). All the selections (at least two) made must win for the bettor to win the accumulator.

Example: One match might only provide odds of 1.20 (1/5) on the favorite to win which would not yield much winnings. However by creating an accumulator bet with the favorites from three matches, the bettor is able to increase his odds significantly. While a winning 10 bet would have earned 12 at odds of 1.20 (1/5) previously, it could be worth as much as 200 or more as an accumulator bet.

A type of bet whereby if the first bet wins, the winnings become the bet on the second bet; and so on (also known as a “Parlay”, “Accumulator” or “Multiples”). All the selections (at least two) made must win for the bettor to win the all up bet.

A type of betting whereby no refunds are given for scratched or withdrawn competitors/teams in an event where a bet is placed. In the case of an event being cancelled then the bet amount will be refunded.

Refers to spread betting in soccer. Asian handicap (also known as “Hang Cheng”) removes the possibility of a draw result which increases the chances of a bettor turning a profit significantly. There are only two outcomes with an Asian handicap, a “home” or “away” win with a possible “push” for money back on a draw depending on the handicap. The handicap is a virtual goal head start and can increase in increments of 1/4 e.g. 1/4 goal, 1/2 goal, 3/4 goal, 1 goal, 1¼ goal etc.

Example: When the underdog receives a ½ goal handicap, it means that you are betting for it to start with a pretend half goal. Say for instance Manchester United and Arsenal are playing (Arsenal has the handicap of ½) and you bet on Manchester United to win. Depending on the final score, the bet outcome is as such: 

Manchester United vs. Arsenal: 

0-0 = lose 

1-0 = win 

0-1 = lose 

2-1 = win 

3-2 = win

To bet the maximum amount allowed by a bookmaker on a particular event/race.

Online bookmakers offer a large selection of betting markets on every single event, often giving their customers a choice of more than 100 betting options. These are the bet types that a bookmaker offer for a certain event: Asian Handicap, Over/Under, First to score, Total Goals, etc.

A syndicate of big money sports bettors who place large bets.

Tax on a bookmaker’s turnover. In the UK this is a “duty” charged by Customs and Excise at the rate of 6.75 pence on every pound wagered. Common methods of recouping this are to deduct the tax from winnings or allow the bettor to pay the tax with his stake. In the case of paying the tax with one’s stake, there will not be any tax deducted from winnings.

A person or company who accepts bets from the public, usually on racing or sports events (also known as a “Bookie” or “Sportsbook”).

A game where the maximum bet is limited by the bookmaker because the game features key injuries, inclement weather, or unsubstantiated rumors regarding a team. These games cannot be included in parlays or teasers.

Known as the final line, the close/closing line refers to the betting line before a bookmaker sets the odds for an event.

When three or more competitors share the status as favorite (have the lowest odds).

Using credit at a bookmaker to bet. Not possilbe with online bookmakers.

A form of accumulator bet in which the bettor makes a combination bet on two horses in two races. If the bettor wins on the 1st race, his winnings become his stake on the 2nd race.

In other words, odds of the two evetns are multiplied.

Searching through a large volume of statistics to find profitable situations to bet on in the future.

The payout or return of a bet. Example: you bet 500 INR on odds of 1.60, possible total winnings: 500x1.60= 800 INR

Divident = total winnings - stake = 800-500 = 300 INR

Your possilble divident (pure winnings) are 300 INR.

A bettor who mainly wagers on the underdog.

A bet that allows you to win the same amount of money if your team wins or if they tie, which means that only a loss of that team will result in a losing bet. Odds are usually low for such type of bets, as they cover 2 out of 3 possible outcomes of the game. This type of bets are possilble only on events that have at least 3 possible outcomes - win, lose, tie.

An even-money bet such as odds of 2.00 (evens) whereby the bet will pay out exactly the amount wagered.

The simplest of all accumulators (combos) as it consists of just 2 selections, both of which need to be guessed correctly in order to qualify for a return.

Example: A bettor stakes 500 INR on a double bet consisting of selections with odds of 1.50 and 1.40. If both selections win, he will earn 500 INR x 1.50 x 1.40 = 1050 INR. If either selection or both of them lose, the bet is a losing one.

Where competitors in an event finish tied (also known as a “Jerk” or “Push”).

A bet whereby bettors will get their stake back if the game ends up as a draw (tie). This is particularly popular with soccer match bets. Can be used on cricket betting for eliminating the possibility of a loss if game ends in a draw (tie).

A betting method used to cover several contenders in an event, making sure each and every one of those bets guarantees the same profit, while eliminating major underdogs. This ensures the same profit regardless of which bet wins, obviously provided one of the backed competitors/teams does win the event. This kind of strategy is usually used in horse race betting but can also be applied to soccer or cricket outright bets where a bettor can cover several teams (to win tournament) and still win a nice profit.

Bets that are placed as soon as the betting lines (odds) are made available to the public.

A person’s advantage when it comes to sports betting.

Differing from Asian handicap, there are no void bets or stakes refunded with European handicap bets.

A wager against a particular person.

A person with plenty of money.

Wagering large sums of money.

A bet placed only on the first half of a game. Popular for football betting.

All the doubles, trebles and accumulators involved in a given number of selections.

Making a bet.

Losing a wager (bet) or series of wagers (bets).

Underdog, also known as Dog is the Competitor/Team that is thought to have little chance of winning. The underdog has the higher odds.

Example: Cricket game, India vs Sri Lanka ; odds for India to win 1.30 ; Odds for Sri Lanka to win: 3.65

The Underdog is Sri Lanka ; Favorite is India