Here’s a comprehensive guide to common betting terms used across the gambling world, simplified for easier understanding.
2-Way Market
A type of bet with only two possible outcomes, like a tennis match where either Player A or Player B must win.
3-Way Market
A bet with three possible outcomes, often seen in football where you can bet on the home team to win, an away team victory, or a draw.
Accumulator (Acca)
A bet that combines several selections into one. All selections must win for the bet to pay out, with potential winnings accumulating from each successful selection.
Action
An American term that refers to any bet that is currently live or active.
Advantage Gambling
Refers to using legal strategies to gain an edge over the bookmaker, like counting cards in blackjack.
All In
Primarily a poker term, this means betting your entire balance on a single outcome.
All Out
In sports, it refers to giving maximum effort to win, commonly used in horse racing.
All-Weather Racing
Races are held on artificial surfaces, allowing events to take place regardless of weather conditions.
Understanding Bookmaker Free Bets and Bonuses
Also Ran
A horse that finishes a race but does not place in the top positions.
Ante-Post Betting
Betting is placed well before an event takes place, typically used in horse racing.
Apprentice
A young or inexperienced jockey is learning the ropes.
Arber
Someone who places arbitrage bets, which ensure a profit by betting on all possible outcomes across different markets.
Arbitrage
A strategy where you bet on all possible outcomes to guarantee a profit.
Asian Handicap
A form of betting that originated in Asia, offering no possibility of a draw by giving one team a head start.
Backward
A horse racing term for a horse that is underprepared or not yet fit for competition.
Bags
A term used in greyhound racing for the bookmaker’s afternoon service.
Banker
A bet that is almost certain to win.
Bar
The lowest odds mentioned in a betting market, usually indicate other selections are higher odds.
Beard
A term for someone placing a bet on behalf of another person, often to disguise their identity.
Beginner’s Luck
The perception that new bettors have an initial run of success, is often dismissed as pure luck.
Betfair Commission
The percentage Betfair charges on winnings from bets placed on its exchange.
Bettor
A person who places a bet.
Blind Bet
A bet placed to disguise the bettor’s main intentions is often used to divert attention from larger bets.
Bismark
A heavily favored horse that is expected to lose.
Blinkers
Horse racing gear that limits a horse’s peripheral vision to help them focus during a race.
Blanket Finish
A race where several horses finish very close together.
BOG (Best Odds Guaranteed)
A promise from the bookmaker to pay out the best odds if they are higher than the odds at which the bet was originally placed.
Bookmaker (Bookie)
The entity or individual that takes bets and sets odds.
Book
The total amount a bookmaker has taken in bets on a specific event.
Bottle
UK betting slang for odds of 2/1.
Breaking the Bank
Winning a large sum of money, particularly in a casino setting.
Bumper
A flat race for young horses, often a prelude to national hunt (jump) racing.
Burlington Bertie
UK betting slang for odds of 100/30.
Buy Price
The higher price offered in spread betting.
Canadian
Another term for a Super Yankee bet.
Card Counting
A technique used in blackjack to track which cards have been dealt, helping predict future hands.
Carpet
UK slang for odds of 3/1.
CD / C & D
An abbreviation in horse racing meaning Course and Distance, used in form guides to show a horse’s past performance at a specific track and distance.
Century
Betting slang for £100.
Challenge Bet
See Compound Interest Bet.
Chasing
A bettor who keeps placing bets in an attempt to recover previous losses.
Cheek Pieces
Equipment fitted to a horse’s bridle to help improve its performance.
Clerk of Scales
The official is responsible for checking that jockeys weigh incorrectly.
Co-Favourite
When multiple selections share the same odds as favorites.
Cold Deck
A set of cards in a casino that doesn’t produce favorable results for the players.
Compound Interest Bet
A betting strategy where the bettor reinvests their winnings from one bet into the next, aiming to grow profits over time.
Conditional Jockey
A young jockey specializing in jump racing, similar to an apprentice.
Cover Bet
A secondary bet is placed to guarantee a profit or minimize risk, regardless of the outcome of the main bet.
Croupier
The casino worker who deals cards or spins the roulette wheel.
Dam
A horse’s mother.
Dead Heat
When two or more horses finish at the same time, it is impossible to distinguish a clear winner.
Deuce
In tennis, a tie where a player must win two consecutive points to win the game.
Dividend
The payout from a tote bet.
Double
A bet with two selections. Both must win for the bet to succeed.
Doubling Up
Also known as the Martingale System, where a bettor doubles their stake after each loss to cover previous losses.
Draw
In football, when the score is tied at the end of the match. In horse racing, it refers to the stall from which a horse starts.
Drift
When the odds for a selection lengthen, indicating less confidence in the outcome.
Drifter
A selection whose odds are drifting.
Ducking
When a bookmaker lowers the odds to reduce their exposure to a particular outcome.
Dual Forecast
A bet where you predict the first and second finishers in the correct order, typically in horse racing.
Dutching
Backing multiple outcomes to guarantee a profit.
Each Way
A bet where you stake money on a selection to either win or place, typically used in horse racing.
Ear’ole
UK betting slang for odds of 6/4.
Exacta
Another term for a Dual Forecast.
Evens
Odds of 1/1, where you stand to win the same amount you bet.
Expected Value
The theoretical amount of money a bettor expects to win or lose is based on probability.
Favourite
The selection with the shortest odds indicates it’s the most likely to win.
Flag
A bet that includes all combinations of a five-fold accumulator.
Fold
Refers to the number of selections in a bet, or in poker, discarding your hand.
Fourfold
A bet on four selections.
Form
The past performance of a horse, team, or player.
Form Player
A bettor who relies heavily on past performance data to make their bets.
Forecast
A bet where you predict the top two finishers in order.
Furlong
A unit of measurement in horse racing, equivalent to 200 meters.
Full Cover
A bet that includes all possible combinations for a set number of selections.
Goliath
A multiple bet covering all possible combinations for eight selections.
Going
The condition of the racecourse surface, ranges from firm to heavy.
Green
A term describing an inexperienced horse.
Handicap
A system where stronger competitors are given disadvantages to level the playing field.
Hedging
Placing bets on additional outcomes to reduce the risk of a loss.
Heinz
A multiple bet involving six selections.
High Roller
A gambler who places very large bets.
House
The casino or gambling institution.
IBAS
Independent Betting Adjudication Service, which resolves disputes between bookmakers and bettors.
In Running
Also known as In-Play, where bets are placed while the event is ongoing.
In the Money
A horse that finishes in a position where it qualifies for a payout.
Jolly
Another term for the favorite in a race.
Joint Favourites
When two or more selections share the shortest odds in a race.
Lay
To bet on a selection to lose, typically in betting exchanges.
LBO
Acronym for Licensed Betting Office.
Long Odds
High odds reflect a lower probability of success.
Long Shot
Another term for a selection with long odds.
Liability
The amount of money a bookmaker stands to lose on a particular bet.
Lines
Refers to the various betting options or handicaps available.
Linemaker
Another term for a Handicapper.
LSP
Level Stakes Profit; the profit made if all bets were placed with the same stake.
Lucky 15, 31, 63
Bets cover all possible combinations of 4, 5, or 6 selections, respectively.
Maiden
A horse that has never won a race.