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What is the meaning of each common bookmaker term?
New to betting or refreshing knowledge, it’s better to learn bookie lingo, so you don’t lose money through ignorance. This will be constantly updated
Published on 07 January 2019
Updated on 25 January 2019
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What is the meaning of bookie?
A bookie is a common nickname or shortened version of bookmaker. A bookmaker is a legally registered entity that will offer odds on uncertain activities within a variety of events, such as sporting occasions, television shows or political events, etc.
People will choose one outcome within the event and will bet money with the bookmaker against a specific outcome. The bookmaker will either return the bettor’s original wager alongside the winnings for the correct prediction or if the outcome is not as the bettor believed, the bookmaker will retain the wager. The amount paid out to bettors is related to the odds against the event.
The level of bookmaker odds pay-out can be calculated using the bet calculator and odds converter, if you need to translate or convert odds from bookmakers within different parts of the world.
What is the meaning of parlay?
Everyone likes to turn a small amount of money into a larger amount of money. That is exactly What parlay means, in the betting community, to parlay a bet is to take a smaller amount of money and turn that into a larger amount of money.
For example, you could have a small bankroll and then turn that bankroll into much larger amount by rolling over your winnings and profits into a larger amount. Therefore, you would have parlayed your small bankroll into a larger bankroll.
This is only possible, if you truly understand how to manage your bankroll over time, you can calculate your betting returns and winnings with the bet calculator and make better betting decisions over the long-term.
What is the meaning of over/under?
A common betting option is the popular goals over bet, which requires your preferred team or teams to score more than a set number of goals.
Soccer/football is all about goals. Goals win games.
Teams all want to score more goals than another team, that’s why bookmakers provide different betting options for the number of goals over or goals under a certain number of goals scored within a match.
For example, you could have the following goals over or goals under betting options:
• Home Team to score over or score under 0.5, 1.5, 2.5 or more goals
• Away Team to score over or score under 0.5, 1.5, 2.5 or more goals
• Both Teams to score over or score under 0.5, 1.5, 2.5 or more goals
What is the meaning of outright winner?
Placing a bet on the winner of a long-term bet, such as a winner of a league, e.g. English Premier League or France Ligue 1, etc is known as an outright bet.
An outright bet winner could also be the winner of a tournament, such as the UEFA Champions League or the FIFA World Cup.
As you can probably imagine, outright bets are often selected by bettors before a league season or a tournament starts, but this does not mean bets cannot be placed during the season when the different teams are showing their performance.
The winnings for outright bets offer large pay outs, as the course of a football season contains many twists and turns, which generally means the odds offered are much higher than one-off matches.
Outright winner wagers are very popular with some bettors, as there is the opportunity to discover a much greater potential for long-term value within your long-term outright selections.
Checking out the recent form within the soccer statistics pages can help you decide on the teams that are likely to perform better in a new season.
Over the coming weeks, we’re going to revisit and explore more common bookmaker terms. This will help you gain a better insight into how you can make improved selections when you understand the different bookmaker betting terms, below:
What is the meaning of tipping soccer bets?
Tipping in football betting vocabulary refers people providing you with tips, which are recommendations of what could be a winning selection. The recommendation services or ‘tipping’ services are often provided by people, organisations or syndicates focussed on beating the bookmaker.
Reputable tipsters tend to provide regular tips for potential winning selections (i.e. singles, multiples or accas across betting markets) or other realistic betting option where you can exploit value over a long-period rather than a specific winning selection.
As you can imagine the chances of you winning various accumulator bets over a long period of time is next to nothing and you will money by relying on tipster services to provide you with winning accas every week.
To win more acca than you lose will require you to invest some time understanding your betting market, so you can get to grips with how your chosen market operates. Finding winning bets is not always easy or everyone would be a sports betting millionaire…
That’s why you have to do some original thinking start reviewing data that can help you form an opinion of your different bets. It’s also wise to track your bets over time, so you can see the long-term patterns, of where you’re being successful and where you being less than successful. Combining everything will help you to be more successful and hopefully, succeed over the long term.
What is the meaning of goal in betting?
Soccer is all about the number of goals scored within a given match. As we all know understanding goals scored is fundamental to every soccer match. Almost every match will have a goal scored as that’s the object of the game. Each time has the same objective and that is to score more goals than the opposition.
All matches require goals for games to be won or lost and the well-known betting markets are usually goal related, either first goal scorer in player markets or the classic full time goal markets, such as Goals Over, Goals Under, Correct Score, etc.
Most of the goal or score related betting markets are derivatives of overall goals scored. This can make some goal markets difficult to understand, particularly if you overlay Asian handicaps and goal handicaps on to the goals.
What is the meaning of no goal in betting?
No goal football bets are designed to remove the goals from the potential outcome by placing your wager against a nil-nil (0-0) match result. You might be thinking that betting a goalless draw is the same as placing a bet against both teams not to score a goal. However, this is not necessarily the same thing.
What is the meaning of no goal scorer betting markets?
If both teams draw nil-nil (0-0) and you place a bet on no-goals scored (i.e. 0-0 scoreline), what would happen if one team scores an own goal?
You would lose your money…
Now, if we think about the same example, but this time one team concedes an own goal. What would happen next?
In that scenario, you would have lost your bet if you decided to place a no goal scored bet, as own goals are usually included in the standard 0-0 betting markets. On the other hand, if you decided to wager on the no goal scorer betting market, the same bet would have produced a win, as own goals are not included within no goal scorer markets.
What is the meaning of hedge (or hedging) in betting?
Hedging is used in many walks of life, and soccer betting is no different. Hedging your bets is a simple way of taking multiple bets within the same event with the objective of reducing the potential downside and protecting your bets, and therefore, your long-term bankroll.
You can learn what is hedging and why are hedge bets used in gambling in a previous article.
What is the meaning of gambling?
Gambling, specifically sports related gambling, is the process of risking money on an uncertain event for financial gain. You will place money (i.e. a bet or wager) with a bookmaker or betting exchange on the outcome of a football match between two teams.
The outcome of the match cannot be known before the bet was placed, so this is known as gambling on the outcome for financial gain. Therefore, many people want to believe that soccer betting can make you rich...
What is the meaning of arbitrage?
Arbitrage is the process of balancing risk and placing bets on both sides of a wager, so you may back one team to win and their opponent not to lose. Therefore, producing a bet that covers both eventualities. Arbitrage comes into its own when the balanced risk produces a positive profit due to odds inaccuracies across betting markets.
You can find out how to build an arbitrage betting system and understand if arbitrage betting is legal and if arbitrage betting works.
What is the meaning of handicap in football betting?
Handicap betting is a method used by bookmakers to equalise the perceived skills, ability and situation advantage of one team above another team. Sometimes the betting market and the wider football world will have an opinion of one the relative strength of two competing teams; the different handicap betting options is a way to resolve the imbalance and make betting more interesting.
There is a deeper review and description of what is a handicap in football betting within another blog post.
What is the meaning of referral code?
Many sports betting companies; bookmakers and betting exchanges offer a friends and family referral code, which entitles you to free promotions and bonuses. The number of free betting promotions and bonuses are usually related to the number of new customers that you refer to each online betting company.
What is the meaning of minus in betting?
The minus or negative number is used within moneyline odds, which is an American sports betting measure, which indicates the favourite and the wager required to return a certain amount of money following a successful bet.
Get a thorough explanation of the moneyline minus ‘-‘, which a previous blog post. This post will provide you with an explanation of how to bet on soccer using the moneyline.
What is the meaning of interruption in betting?
Most bettors and traders want to know what happens when a football match is interrupted? Although, the real concern is about the stake. Will the betting stake be retained by the bookmaker or betting exchange.
There are a few different outcomes for your wager when a match is abandoned, but your money is usually returned if the outcome of your bet cannot be settled. E.g. If you placed a bet on a half-time result, but the match was abandoned during the second half, then you will lose your stake.
The postponed and abandonment of soccer matches is a more detailed area, which details what happens to a bet if a football match is suspended.
What is the meaning of single betting?
Single betting is when you place a wager on one bet that is not related to another selection. You will either win or lose the wager based on the outcome of the single selection. This means that you will not have a second chance if your selection does not turn out as you planned. You will lose all of your money if you do not win.
What is the meaning of winning margin betting?
Winning margin betting is a great way to predict the margin of victory between two teams. If you won one of these bets, you have successfully predicted the number of goals margin between the wining team and the losing team.
This is simple to calculate, if you believe Chelsea will beat Southampton, 4-2, then you believe the winning betting margin will be 2 goals.
What is the meaning of trifecta?
A trifecta is a horse racing term and not really related to football betting but understanding different betting terms can help you read the betting markets and see how the different betting styles operate.
The Trifecta is the correct prediction of the first three finishers within a horse race.
What is the meaning of Asian (handicap)?
Asian handicap betting is an interesting selection of bets, which can help to equalise the strength between two teams of varying abilities and circumstances. When you bet using Asian handicaps, this allows you to decide between the prospects of the favourite to overturn a deficit or the underdog to win with a head start.
You can find out more information in the betting blog about Asian handicap betting.
What is the meaning of combo?
Have you ever asked…what is a combo bet? You probably already know the answer, if you understand the meaning of a multiple or an accumulator (i.e. acca) bet. A combo is simply a ‘combination’ of bets where you only win the overall bet if every selection wins. If any selections within your combo fail to come true, you will lose your stake.
What is the meaning of treble?
A treble is a combo or multiple bet, where you wager your stake on a three-selection combo. Every selection must come true within the treble for you to earn money form the bookmaker or betting exchange.
What is the meaning of 'gamble'?
If you risk money on an uncertain activity, this is known as gambling. Therefore, if you could potentially lose the money that you’re risking with the prospect of winning more money, this is the entire concept behind gambling.
We all want more money, but when it comes down to it, you’re only winning more due to risking some money and if you don’t know if your selection will come true, this means that you’re gambling, as the activity is uncertain, and you cannot be 100% sure that you will win the match.
Ideally, you want to reduce your liability, by finding a way to win more often than you lose. However, if sure tips are not 100% accurate, you’re left with having to learn how to find value, learn sports trading on betting exchanges or learn sports betting arbitrage.
What is the meaning of return on investment when betting?
Return on Investment (ROI) can be found in different circumstances, but when it comes to football (and other sports betting), the ROI is usually measured in a percentage and is a measure of the profitability of your bet based on your initial stake.
So, if you placed a bet on Birmingham City to beat QPR at odds of 3.0 and you risked £10 and Birmingham City won the fixture, this would provide you with the following return on investment.
ROI = (£30 - £10) / £10
ROI = £20 / £10
ROI = 2 / 1
ROI = 2.0 or 200%
You can get more information about the ROI in football betting within a recent post, here
What is the meaning of odds in betting?
Bookmaker Odds relate to the implied probability of an event occurring. The odds are designed to reflect the amount of money that you would return from wagering on the uncertain event. The odds can also allow you to make a comparison between different betting options, so you can judge if you feel comfortable risking money against one event with one level of odds when compared to another event with the same odds.
In reality, the odds are only the implied probability and if we’re honest with ourselves, we all know that. We know that bookmakers cannot give us the real probability of the event or they would be giving us too much help and assistance before placing a bet.
If we know the real probability, we could then calculate exactly how much money we should risk on different events and the bookmaker would not profit from any of their bets.
Therefore, the bookmaker adjusts the odds based on different criteria and the betting market. If you want to know, how bookmakers calculate their starting price, or how and why bookmakers constantly change their odds, feel free to browse the football betting blog.
What is the meaning of under/over bets?
Under/Over bets are based on goals; the number of goals scored over or the number of goals scored under a specific number.
Many of the popular Goals Over or Goals Under markets are based on half goals; 0.5, 1.5, 2.5, etc. So, if the bet was for Goals Over 1.5, the bet would win, if the number of goals scored within the match was above 1.5 goals or 2 or more goals.
Likewise, if the bet was for Goals Under 1.5, this would refer to the number of goals scored within the match below 1.5 goals or 1 goal or no goals scored.
What is the meaning of accumulator?
An accumulator (or acca) bet, is simply another word for a multiple bet, as described above. Your bet is classed as an acca, if you have placed a series of bets, where you require a positive result from each of the different bets before winning the overall bet.
For example, if you were watching four different soccer matches and you required a specific result within all four of the matches before receiving any return, this would be classed as an acca.
What is the meaning of stake in betting?
The stake is known as the amount of money that you’re willing to risk with the prospect of winning more money if your bet wins.
The stake is a fundamental principle of betting and without risking money, it would be betting. The stake and the bookmaker odds (described above and throughout this site) work together.
Without the stake, the odds would not be interesting and without the stake there would be no need for betting odds. Betting requires the risk of something of value, with the prospect of profiting by an increased value and is also why you should never risk more money that you can afford to lose.
Betting is a recreational and an uncertain activity, unless you’re a vastly experienced professional gambler.
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