Betting Glossary – All Betting terms explained!

Check out Terms & Abbreviations for Horse Racing here!

A

 

Accumulator

Also called combo and parlay.
A type of bet that combines multiple events on a single bet slip.
The player wins only if all events are successful.

 

Across the Board

Typically for horse racing, where win, place and show are being offered.
It is a wager of equal amount for each outcome.

 

Ante Post

A bet that is placed prior to an event (at least a day, but can be months before the final result of an event). This bet is often about the champion of a particular organization.

 

Arbitrage

Arbitrage or ‘surebet‘ means betting with a sure profit.
The player uses the market imperfections to combine odds of different operators and thus secure a profit, regardless of the final outcome of the event. Read More about Arbitrage

 

Asian Handicap

A wager that allows for setting goal advantage/disadvantage for a team. Read More

 


B

 

Bad Beat

An unexpected, often last moment loss of a wager.

 

Banker Bet/Bank Bet

Banker bet is betting on the favorite to win, i.e. a profit is expected. It is also a term used in system bets, where a selection must win, or the entire coupon loses.

 

Betting Exchange

An alternative to bookmaker, where the player doesn’t buy odds from the bookie, but rather from other players.

 

Betting Limits

Some bookmakers determine limits on minimum/maximum (most commonly maximum) amount on each wager. Check our Bookmaker reviews to learn more.

 

Book/Bookmaker/Bookie

An establishment that generates odds for events and accepts wagers.

 

Bookings

Also called Total cards.
It is a betting market where a player can predict whether the sum of yellow/red cards is greater/less than the set limit.


C

 

Canadian

Also known as Super Yankee. A system of 26 bets on 5 selections: 10 doubles, 10 trebles, 5 four-folds and 1 five-fold accumulator. A player must win in 2+ of his selections in order to get a return.

 

Canadian Line

A term in hockey, which is a combination of moneyline and pointspread.

 

Chalk

Also known as a Favorite. The team/athlete/horse that is more likely to win.

 

Chalk player

One that usually bets on the favored teams.

 

Clean Sheet

A betting market that allows player to select the number of goals a team will accept during a match.

 

Correct Score

A betting market, in which the final result the match is bet on.

 

Cover

To cover the spread means to win or to beat the pointspread by the required number of points.


D

 

Dead Heat

Usually used for horses, when two or more competitors finish in a tie. Full odds are paid out for half stake (or a third if 3 competitors finish together).

 

Decimal Odds

A way of displaying odds, typically used in Europe. Read more

 

Dog Player

A player that mostly bets on the underdog.

 

Dog/Underdog

The team that is considered unlikely to win, therefore with higher odds.

 

Double Chance

A bet where the player predicts 2 of the 3 possible outcomes (1,X,2). For instance in a game Read Madrid – Las Palmas, a player can bet on 1X if he is certain that Las Palmas cannot win.

 

Doubles

A combo with 2 selections. Both must be successful in order to get a return.

 

Draw No Bet (DNB)

A betting market which eliminates the draw (returning the stake back in case of a draw, as if a bet was never placed). The player can bet for a home or away win. Read More


E

 

Each Way

Usually for horses, but also in football. The bet consists of 2 equal wagers – betting on a ‘Win’ and betting on a ‘Place’ (top 2,3,4 depending on the particular offering).

 

Edge

A term used in sports betting to denote a person’s advantage.

 

European Handicap

A betting market where one of the teams is given a goal advantage/disadvantage. Unlike Asian handicap, there are 3 possible outcomes.

 

Even Money

A wager that returns a profit equal to the stake. Odds of 2.00.

 

Exposure

The maximum amount of money a bookmaker can lose in a particular game.


F

 

Favorite

Also known as Chalk. The team expected to win.

 

Final Four

The remaining 4 teams in the NCAA basketball tournament.

 

First Goal Minute

A type of bet, predicting the exact timing of the first goal, regardless of which team scores it.

 

First Goal/First team to score

A type of bet where the player predicts which team will score the first goal. The final result is irrelevant.

 

First Half bet

A bet placed only for the result of the first half of a game.

 

Fixed Odds

Odds that are pre-determined, meaning that the expected profit can be calculated at the time of placing the bet.

 

Fractional Odds

A particular way of displaying odds that is used in the UK. Read more.


G

 

Getting Down

Placing a Bet.

 

Goliath

A system of 247 bets on 8 selections: 28 doubles, 56 trebles, 70 4-folds, 56 5-folds, 28 6-folds, 8 7-folds and 1 8-fold.


H

 

Half Time/Full Time

Predicting the result of a match at half-time and the final result.
Learn all about HT/FT betting

 

Handicap

A method used by bookmakers to make a one-sided event become more attractive for betting, where point advantage (e.g. goals) is given to a team.

 

Handle

The total amount of money that is staked on an event (group of events).

 

Head to Head

A bet where the player predicts which of 2 participants will finish with better results.
Read more about Head-to-Head Betting

 

Hedging

Placing bets on opposite outcome in order to minimize losses.

 

Heinz

A system of 56 bets over 6 selections: 6 five-folds, 15 four-folds, 20 trebles and 15 doubles. 2 or more selections need to be successful in order to get a return.


I

 

In the Money

Describes the number of contestants on which money will be paid out to bettors (1st, 2nd, 3rd or sometimes also 4th place). Usually for horses.


L

 

Lay

Betting on something not to happen, for instance on a team not to win a game. Usually used in betting exchanges.

 

Live Betting

Betting during the game with odds varying and changing, as the game progresses.

 

Lucky 15, 31, 63

Multiple bets on resp. 4, 5 and 6 selections (15, 31 and 63 bets), where the player gets return even if only 1 of the selections is successful.


M

 

Martingale

A betting system with doubling stake every time a bet is lost. Read more.

 

Mobile betting

A feature that enables bettors to place bets via their phones/tablets.

 

Money Line

A way of displaying odds, used by Americans. Shows amount that needs to bet, in order to win $100 or the amount that can be won by betting $100.

 

Multi-corner

A type of wager where the player predicts whether the number of corners will exceed the limit set by the bookmaker.


N

 

No offer

Conditions, in which the bookmaker cannot offer odds for a particular event.

 

Non-runner

A participant who has registered to run in a race, but eventually does not do so. Often for horses.


O

 

Odds

The bookmakers’ prediction of the chance a competitor will win (adjusted to include profit). Read about Betting odds in detail

 

Outcome

The result of a game.

 

Over/Under

A betting market where the predicted total number of goals in a match is more or less than the limit set by the bookmaker (e.g. Over 2.5 goals, meaning 3 or more goals are scored, regardless of which team did the actual scoring).

 

Overlay

An event, where the player believes that the chances are higher than the given odds. Often used in horse racing.

 

Overround

Bookmaker profit margin.


P

 

Pari-Mutuel

Race gambling where all bets are pooled and winners are paid out according to the size of pool and number of total winners.

 

Parlay

Also known as accumulator or combo bet. A bet including multiple selections, in which all must win for the player to get return.

 

Patent

A system of 7 bets over 3 selections: 1 treble, 3 doubles and 3 singles. 1+ selections must be successful for a player to get return.

 

Pick’em

A game with no favorite/underdog.

 

Picks

Predictions to bet on, chosen by experts. Also known as tips.

 

Point Spread

Point advantage given to a particular team, to make betting more attractive. Also known as Line or Handicap.

 

Price

Odds.

 

Punter

Also called Bettor. A person who places bets.

 

Push

When an event ends with no winner. The return of stake due to event cancellation or draw.


R

 

Roundabout

A system of 3 bets over 3 selections.


S

 

Score bet

A bet, in which the punter predicts final score and either the first or the last scorer.

 

Shortening the Odds

The bookmaker’s reduction of the odds, to reduce exposure. Happens as a result of heavy betting.

 

Spread Betting

Also known as action line or moneyline. A bet, in which the result of an event is predicted.

 

Stake

The amount placed as a bet.

 

Super Yankee

Also known as a Canadian. A system of 26 bets with 5 selections.

 

Sure Bet

Betting that ensures profit. Can be done by combination of odds.
See also Arbitrage Betting or read more


T

 

Three-way

Also known as 1×2. A bet with 3 possible outcomes – win, draw or lose.

 

Tips

Also called picks. Expert predictions to bet on.

 

Tipster

An expert who gives tips and advice on betting.

 

Total points number

A bet, in which the player predicts whether the total number of points will exceed the limit set by the bookie. Often used in basketball.


U

 

Under (from Over-Under)

A bet in which a player sets the total number of points in a game not to exceed a certain limit set by the bookmaker (e.g. under 2.5 sets means that if the total sets are 3 or more, the bet loses).

 

Underdog

Also called Dog. The team that is not likely to win.


V

 

Value Betting

Wagering when the player believes that the odds, set by the bookmaker are much higher than they should be. Read more.


Glossary NEW (TEST)

By Uncategorized

Accumulator
Also called combo and parlay.
A type of bet that combines multiple events on a single bet slip.
The player wins only if all events are successful.

Across the Board
Typically for horse racing, where win, place and show are being offered.
It is a wager of equal amount for each outcome.

Ante Post
A bet that is placed prior to an event (at least a day, but can be months before the final result of an event). This bet is often about the champion of a particular organization.

Arbitrage
Arbitrage or ‘surebet’ means betting with a sure profit.
The player uses the market imperfections to combine odds of different operators and thus secure a profit, regardless of the final outcome of the event. Read More about Arbitrage

Asian Handicap
A wager that allows for setting goal advantage/disadvantage for a team. Read More

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Horse Racing Terms and Abbreviations

A

 

Across the board

A type of wager that is effectively a combination bet on one horse to Win, Place and Show. If the horse wins, you collect all three bets. If the horse is 2nd, you collect the Place and Show payouts. If the horse comes in 3rd, you collect the Show bet only.

 

All Out

When a horse is putting in maximum effort

 

Allowance

When horses of a certain age are racing against older horses, a certain weight allowance is given

 

(AE) Also Eligible

Horses that are entered into the field, but will not run, unless other horses get scratched.

 

All Weather Surface

An artificial man-made surface that allows for racing to take place in bad weather conditions as well. Usual synthetic materials used are Fibresand and Polytrack.

 

Ante Post

Placing a bet on a race before the day of the event, when the number of horses that might run the race is larger than the actual number that is later declared. If the selected horse is a non-runner, the bet is deemed as lost (no reduction factor is applied).

 

Apprentice Rider (Apprentice jockey)

Jockeys start as apprentices and are given weight allowance over more experienced jockeys. The allowance decreases as the jockey gains more victories within a specific time period.

 

 


B

 

Baby Race

A race with horses that are two-years-old usually takes part early in the season

 

Backstretch

The straight part of the track opposite the finish line or in the stable area

 

Backward

A horse that is not fit enough or is not putting in enough energy

 

Bar

Short odds that are not mentioned in a betting forecast

 

(b) Blinkers or Blinders

Equipment fitted to the horse’s head that restricts the horse vision, helping the animal to concentrate.

 

(b1) also known as First Time Blinkers

When the horse is using blinkers for the first time, a “1” will appear next to the “b”

 

(BD) Brought Down

When a horse trips or falls over another horse

 

Best Turned Out

The best looking horse in the paddock – usually awarded by race sponsors.

 

(BOG) Best Odds Guaranteed

A promotion used by bookmakers, where you take early odds, but if at the race start, they increase, you’re guaranteed to get a payout at the better price.

 

Boxed In

When a horse is surrounded by other horses in a way that it has nowhere to go.

 

Break Maiden

The first win for a horse or a rider

 

Bug Boy

Apprentice

 

Bumper

A race without hurdles or fences.

 

 


C

 

CD or C&D (Course and Distance)

The abbreviation next to a horse indicates that the horse has already won over that distance at that corse. If the terms are separated “C D”, it means that horse has won at that course, over a different distance and over that distance,  but at a different course.

 

Ch

chase

 

Checked

When a jockey pulls the reigns to avoid a collision with another horse.

 

Cheek Pieces (p)

Head device worn by horses to improve performance

 

Cheek Pieces for the first time (p1)

Indicating that the horse is declared to wear cheekpieces for the first time.

 

Cls

class

 

Colt

A male horse

 

Computer Straight Forecast (CSF)

The dividend paid for getting a forecast of the race (1st and 2nd in correct order)

 

Cond

NH conditional

 

 


D

 

Dam

The mother of a horse

 

Dead Heat

Two or more horses finishing at the same in a tie

 

(Decs) Declarations

A list of the horses that are to run a race. The most common types of declarations are early declarations (5+ days before the race), 5-day declarations – also known as a shortlist of likely horses and final declarations ( the full and complete list of horses that will participate; comes out 24 or 48 hours prior to the race).

 

Derby

A race for three-year-old horses

 

Div

Division

 

Divident

The return to a £1 stake from a selected bet.

 

Double

A bet that spans over two consecutive races, where the bettor has to predict both winners.

 

 


E

 

Eased

A horse that is stopped or pulled up during a race

 

Enquiry (or Inquiry)

An investigation into a race. Can result in place reversal or jockey suspensions

 

(EW) Each Way

A type of bet where one selects a horse to place and win. The stake is divided among winning and finishing in one of the number of places (varying on the bookie and line can be 1st, 2nd, 3rd, 4th, 5th).

 

Exacta/Exactor/Perfecta

Type of bet where the player picks the 1st and 2nd to finish horses in one ticket.

 

 


F

 

(F) Fell or Faller

Grade F in the formbook is received by a horse that falls at a fence

 

Favourite

The most likely to win horse; the horse with the shortest odds

 

Field

The horses in a race

 

Filly

A female horse

 

Front Runner

A horse that usually runs on or near the lead throughout a race.

 

Furlong

1/8 of a mile (201.1meters)

 

 


G

 

Gelding

A castrated male horse

 

Genuine

A horse that, when asked, will give its maximum

 

Graded stakes race

High-quality race

 

Gd

Grade 1, 2 or 3 in Jumps

 

Gp

Group 1, 2 or 3 (Flat)

 

Green

Inexperienced horse; Running excitedly and without calculation

 

 


H

 

(h) Hood

A gear that is mounted to the head of nervous horses when running

 

(h1) First-time hood

Will appear next to the horse’s name when declared to wear a hood for the first time

 

Hampered (also snatched-up)

A horse is said to be hampered when another horse crosses its patch, forcing the jockey to stop riding.

 

Handle

The total bet amount placed on a single race, day or season

 

Hcap

Handicap

 

(Hd) Head

A distance by which a horse can be beaten by another.

 

Held up

A horse that spends most of the time during a race at the back, before being asked for an effort.

 

Hur 

Hurdle

 

Heavy track

A grass racing surface that has so much water that is in almost bog-like condition

 

 


I

 

In the money

Finishing 1st, 2nd or 3rd

 

Inquiry

See Enquiry

 

 


L

 

List

Listed

 

Long shot

A horse that is perceived to have little chance of winning a race, hence odds are high and can result in high profit.

 

(LTO) Last Time Out

Refers to the previous race of that horse

 

 


N

 

(Nk) Neck

A distance by which a horse can be beaten by another

 

Nov

Novice

 

Non-Runner

A horse that was declared to run, but will not participate

 

(nse) Nose

The smallest margin of victory a horse can have

 

(NRNB) No runner No bet:

A bet where the stake is returned if the horse is a non-runner

 

 


O

 

Off the Bridle

A horse that is not running well.

 

 


P

 

(P) Pulled Up

When a jockey decides to stop the horse from racing before the finish line, due to a suspected injury.

 

Paddock 

The area where horses are saddled and kept prior to a race

 

Perfecta

See Exacta

 

Pick 3/4/6

A bet over multiple races, requiring the bettor to pick the winner of 3/4/6 consecutive races.

 

Place

A place bet is a bet that a horse will finish first or second.

 

Placed

Refers to a horse finishing within the first three

 

Post time

The time when a race is set to start. Bets must be placed at least 10 minutes before that time

 

 


R

 

(R4) Rule 4

Odds reduction due to the withdrawing of a favourite.

 

(RO) Ran Out

A horse that takes the wrong course or runs off the track and gets disqualified.

 

(RR) Refused to Race

When a horse refuses to take part in a race

 

 


S

 

Scratch

A horse that is taken out of a race.

 

(shd) Short Head

A distance by which a horse can be beaten by another

 

Show

A straight bet, predicting that a horse will finish in the top 2 positions of a race.

 

Sire

The father of a horse

 

Snatched up

See Hampered

 

Superfecta 

A bet that requires to predict the first four finishers in correct order.

 

 


T

 

(t) Tongue Tie

Breathing aid that stabilizes the tongue

 

(T1) First Time Tongue Tie

When a horse is declared to wear a tongue tie for the first time

 

Tack

The equipment worn by a horse when it runs (saddle, etc)

 

Trifecta/Triactor

Trifecta is a bet, where one has to predict the top three finishing horses in the correct order

 

 


U

 

(U) Unseated

When a horse, without falling, loses its jockey. Usually happens in jumping a fence.

 

 


V

 

(v) Visor

A head-fitted device that restricts a horse’s vision and helps concentration

 

(V1) First time Visor

When a horse is declared to be wearing a visor for the first time

 

 


W

 

Walkover

A race where only one runner is left

 

Weighed in

A process of weight checking. Failure to weigh in correctly results in disqualification. Only after the winner is weighed in, can the result be 100% confirmed.

 


Value Betting

By Betting Tips

Now that you understand betting odds, it’s time to learn how to get the biggest bang out of each bet you make. It may take some time and some research on your part, but once you have value betting explained and nailed, you could be on your way to something epic.

To put it simply, value betting means that you believe for whatever the reason that a certain team/player may perform better than the odds suggest. Contrary to popular belief, value betting doesn’t mean betting on the underdog, but rather betting against the perceived predictions of the bookie. They may have made a mistake or it may simply be that you know more than they do on this occasion.

Bookmakers, though highly knowledgeable, aren’t always correct 100% of the time and often set their odds by a team’s recent scores and performance. However, they might not take into account that a less popular team might be mounting a comeback effort. Your job when value betting is to accurately predict when that particular team might surprise the bookie with a win, beating the odds and increasing your returns.

High-profile teams that are known worldwide, like Manchester United, the New York Yankees and Real Madrid, have built solid reputations and huge fan bases due to their winning streaks and superstar players. As such, they are instinctively expected to win. But if a bookie offers odds of 20/1 (21.0 in decimal) against Real Madrid losing but you’re convinced they’re in for a defeat, you place your wager accordingly – aka value betting.

For example, in American football, one team, the Carolina Panthers, was undefeated all season. The first game they lost was the title game, the Super Bowl. If you’d bet against an undefeated team like the Panthers using your own foresight and they lost the big game, you’d have won big. That’s value betting.

The best way to be successful is to develop strong and insightful knowledge about the teams or players that you’re betting for or against. It takes time and research to learn the ins and outs of your chosen teams or sports, but in doing so you may gain an edge over the bookie. The best time to start, for obvious reasons, is at the beginning of the season. See how the teams and players perform against each other, try to figure out when a particular team may peak, and also make sure you keep track of any changes in the team’s roster—players being traded, injured, retired and so on.

Value betting can work outside sports betting, too, so be sure to look for the same strengths and weaknesses in your opponents in games like poker.

Now that you’ve had value betting explained, it’s entirely up to you whether you up the risks you take with the aim of improving rewards. There are no guarantees, but it can certainly make sports betting a lot more interesting – not to mention profitable if you know what you’re doing.


Head to Head Betting Explained

What is Head to Head Betting?

Head-to-head betting, also known as two-way betting, refers to the option of placing a bet in a situation of two possibilities. Much like a standard three-way betting (1×2 betting), the H2H betting is just betting on the outcome of a match (whereas the match itself is not necessarily just a two-team competition) – win or lose.

Head to head betting can be used for comparing two Formula 1 pilots or two tennis players. You can bet on one of two football teams advancing further in a championship or two football players – which one will score more goals than the other. In summary, H2H is a simple type of bet that is accessible to even the most inexperienced bettors.

What sports is H2H betting used?

Particularly interesting for H2H betting are the individual sports, especially the ones that involve a race. An instance is motorsports, such as Formula 1, Moto GP, or Nascar. Options would be to predict which of 2 drivers would finish first but also bet on a team vs. another team. In the example below, the bookie has set 1.55 for Daniel Ricciardo finishing before Sebastian Vettel in GP Italy.

Image result for head-to-head betting

Horse racing is another sport where H2H betting is highly popular, with attractive odds. You just select which of two horses will cross the finish line first. It is very straightforward and can offer very good value.

Head-to-head bets are also available for rugby, alpine skiing, tennis and increasingly popular in football.

Is Head to Head betting profitable?

The answer to that is of course “it depends”. H2H is straightforward – unlike HT/FT betting, for instance, it only has two possible outcomes. This makes it accessible to anyone but also reduces the risk to a manageable level. On the other hand, head-to-head bets can have very low odds at times, making them less lucrative than other markets.


Half Time/Full Time Betting

The final score of a sporting match isn’t the only way to procure lucrative winnings from the gambling game. Half-Time/Full-Time (HT/FT) bets allow you to bet—and of course, possibly win—if you correctly predict who’s winning at half-time, in addition to who’s the final winner of the game.

What is Half-Time/Full-Time Bet?

Halftime/fulltime covers the regular 90-minute game, meaning extra time and penalties are excluded (do not count). It is a special bet that belongs to the category of double bets, meaning you have to get right both the half-time standing and the end result correctly, in order to win. For this reason, the odds are also much higher.

Let’s say there’s an upcoming football match in which you’re sure that one team will be ahead at the break, but you feel confident the final score will end in a draw. For example, Leeds may be ahead at half-time, with Newcastle tying the game in regulation time. In a case like this, you can bet for Leeds leading after the first half and then a draw at full-time. The odds can be higher, usually around 16/1 (or 17.0 in decimal) for the game to end a draw. That means you’d be getting a huge profit for yourself if you bet HT/FT.

Half-Time/Full-time Sports and Options

Halftime/Fulltime can be offered for any sport that is divided into two equal parts – football, basketball, rugby and American football, among others. Therefore, it offers 9 possible results (see the table below). An exception is ice-hockey, which is made up of 3 periods but is also a sport that offers this type of bet (with 27 possible outcomes).

 

Tip

Half Time

Full Time

1/1

Home Team Leads

Home Team Wins

1/X

Home Team Leads Draw

1/2

Home Team Leads

Away Team Wins

X/1

Draw

Home Team Wins

X/X

Draw

Draw

X/2 Draw

Away Team Wins

2/1 Away Team Leads

Home Team Wins

2/X Away Team Leads

Draw

2/2 Away Team Leads

Away Team Wins

HT/FT Odds and Example

The odds of HT/FT bets are higher than traditional 1×2 odds. For instance, we will look into this example from Bet365 – Hertha vs. Bayern. The Full-time result odds are 1.40 for Bayern Munich, so the team is the clear favourite.


FULL-TIME RESULT

Hertha Berlin 10.00 | Draw 4.33 | Bayern Munich 1.40


But these odds are so low that it would not be worth even betting. However, say you followed the German Bundesliga games this season and you noticed that in the past 10 games or so, Bayern often ends the first half with 0:0, but manages to score a goal or more towards the end of the game.


HALF-TIME / FULL TIME

Draw – Hertha Berlin 21.00 | Draw – Draw 6.50 | Draw – Bayern Munich 3.60

Bayern Munich – Hertha Berlin 67.00 | Bayern Munich – Draw 19.00 | Bayern Munich – Bayern Munich 2.05


Looking into Bet365 offering for Half Time/Full Time bet, we see that a draw for the half-time and an overall win for Bayern Munich has odds of 3.60 – a much better offering. If you want to play safe you can also place more than one HT/FT bet.

Bayern Munich – Bayern Munich 2.05

Draw – Bayern Munich 3.60

This combination can be a lucrative strategy for games with clear favourites, due to the high odds of HT/FT offers.

Another approach might be, staking small amounts on picks with high odds that you believe is likely to happen. In this particular instance, the match Hertha Berlin – Bayern Munich on February 18 ended 1:1 (1:0 | 1:1). If you had bet 10 EUR on this selection, your winnings would have been 210 EUR.

Of course, with any kind of gambling, you’re assuming a risk, but in the case of Half-Time/Full-Time bets, you can come out a big winner!


Betting Odds Explained

If you’re new to the world of gambling, you need to make sure that you understand the odds before you ever place a bet. 

To put it simply, betting odds are a numerical representation of how likely an event is to occur.

Take the example of rolling dice. Because there are six possible outcomes from one roll of the dice, there’s a 16.67% chance that you’ll be correct in your guess of which number will be rolled. That’s 100 divided by six, which equals 16.6666666667, to be exact. This translates to a coefficient 6/1 chance of any specific outcome, or 7.0 if you remove the bookie’s margin.

The same basic principle applies to flipping a coin – a coin has two sides, so you have a 50% chance of winning.

Odds can also tell you how much money you will win.

Let’s say you’re betting on a team with 4/1 odds in a sporting event. If you bet £/€1 and your team wins, you’ll receive £/€4, plus your stake back for a total of £/€5.

Although it may be confusing at first, it’s pertinent that you grasp how betting odds work if you want to make a go of online gambling or sports betting.

There are basically three types of betting odds: fractional, decimal and U.S. style.

Fractional Odds

In the past, the most commonly used betting odds globally were fractional. They still remain the most commonly-used and understood in the UK, though Hong Kong and Malay odds are favored in other parts of the world.

When you see 4/1 odds, to use the example above, those are fractional odds. This means you have a one in four chances of winning, or a 20% chance. To put it another way, you also have an 80% chance of losing. That also means the winner will be paid £/€4 for every dollar or pound waged.

The same goes for 9/1 odds. You’ll win £/€9 for every dollar or pound waged, but you also have only a 10% chance of winning and a 90% chance of losing.

Decimal Odds

Decimal odds are becoming increasingly popular among bookmakers, commonly known as bookies. Most often used in Europe and Asia, decimal odds use a number with a decimal point as opposed to the fractional format.

With 4/1 betting odds, the decimal odds are 5.0. To get this number, you take the percentage chance of winning (in this case, 20%) and see how many time it goes into 100. 100 divided by 20 is 5.

To figure out your winnings with decimal odds, you multiply the odds by your stake, and then subtract your stake from that number. For example, when the odds are 5.0 and you bet £/€10, you multiply 5 x 10 and then subtract 10, for total winnings of £/€40.

U.S. Odds

In the United States, betting odds are expressed using the plus or minus sign. The plus sign indicates the favourite, while the minus is for the underdog. For example, the favourite team might have odds of +250, while the underdog’s odds are -150.

The numbers are calculated according to how much one must wager in order to win $100. Using the example above, you must bet $150 in order to win $100 for the underdog team. If you bet $150 on the underdog team and they win, your winnings will be $250 (your $150 stake + $100 winnings). On the other hand, if you bet $100 on the team with +250 odds, your winnings will total $350 (your $100 stake + $250 winnings). That said, the more you bet, the more you win, obviously. If you bet $150 rather than $100, your winnings with the favourite team would be $400 (your $150 stake + $250 winnings).

betting-odds

Now that you’ve had you know how betting odds work, you should have a better chance of winning, no matter which style of odds your bookie uses.

There are a number of online articles that can help you further understand how betting odds work. A little research can go a long way toward ensuring that you’re as successful as possible.


Draw No Bet Explained

What is “Draw No Bet”?

Draw No Bet, often abbreviated as DNB, is a betting option, offered by many bookmakers, but it is also a betting strategy. This type of betting is very popular, especially in sports like football and rugby where three outcomes are possible.

Draw No Bet means that betting on an event that ends with a draw, your stake will be returned. You will make no money, but you won’t lose anything either.

As you see in the diagram, we have Manchester United playing against Juventus and you believe that Juventus will win this. Therefore you place a €100 on it. The odds are 2.8, meaning that if Juventus wins indeed, you will get €280. However, in the other two possible outcomes of the game, you lose it all.

In the next scenario, we look at wagering the same €100, but this time using Draw No Bet. The Juventus DNB odds are lower, in this case 1.95, which means that if your team wins, you will only get €195. However, if the game is a draw, the Draw No Bet betting option guarantees that you will get your €100 back.

Therefore, we see how Draw No Bet is a way to minimize risk. Many bookmakers are offering the DNB betting option, so it is worth exploring.

Draw No Bet as a Betting Strategy

DNB can be looked at more as a strategy in the cases when bookmakers do not offer the option or whenever the odds are not so favorable. It is only natural that bookmakers build in their overround into the Draw No Bet they offer. In some cases, it might be better for you to do some simple math and calculate the DNB odds yourself.

Draw No Bet Explained – the Maths Behind

Let’s say you want to bet €100 on Arsenal, playing against Liverpool. Below are the odds.


FULL-TIME RESULT

Arsenal 2.10 | Draw 3.40 | Liverpool 3.40


The traditional strategy is to “cover” for the draw. Dividing €100 by the 3.4 (odds of a draw), you find that if you bet €29.41 on a draw, you will get exactly €100 should the game end without a winner. Hence, if you place €70.59 on the Arsenal win (€100 – €29.41 = €70.59), and €29.41 on the draw, you will have an exact Draw No Bet type of bet. If Arsenal wins, you will earn €148.24 (and not the €210 you would have won with a simple Arsenal win the bet), but should the match end with a draw, you would get back your €100.

However, you scroll down the bookmaker page and see that they are actually offering DNB odds:


DRAW NO BET

Arsenal 1.50 | Liverpool 2.50


If you were to use this option, you would get €150 if Arsenal wins and keep your €100 if the game is a draw. Comparing it with the calculation above, we see that you should take the DNB option, because it leaves you with a higher profit (€150 vs. €148.24).

DNB Alternative

Another way to create a DNB bet, if it is not being offered, is through placing an Asian handicap 0 (AH 0).


ALTERNATIVE ASIAN HANDICAP

Arsenal         |     Liverpool

0.0   1.5              0.0   2.5


 

In this particular case, we see that the odds are exactly the same, so placing a DNB or an Asian Handicap 0 will bring you the same profit. This is basically Draw No Bet explained in a nutshell.


Asian Handicap Betting

When it comes to counting on the underdog, your best bet in the football world is to try handicap betting. This form of gambling actually evens out the odds for the underdog by giving their supporters a 50-50 chance, rather than overwhelming odds in favour of the team that’s expected to win. By far, the most popular form of handicap betting is Asian handicap.

Because this can be confusing, it’s best to have Asian handicap explained before even thinking about making a bet. It’s different from other sports gambling because the sport of football itself is different. Whereas games like baseball and basketball never end in a tie, football often does. If there’s a draw, that’s when bookmakers, commonly known as bookies, make a lot of their money. Asian handicap eliminates the draw altogether.

Those who bet on football obviously choose a team to win the match and bet money on their team. If the game ends in a tie, you may lose out on a ton of money. Asian handicaps allow gamblers to either back the favourite team or the team with the handicap. Because each team has more of a 50-50 chance of winning, odds in the Asian handicap betting are different.

A plus sign means that the handicapped team has an advantage. A minus sign puts the favourite team behind. The number of goals can range from 0, -0.25, +0.5, +0.75, and so on. For instance, if the handicap is +0.5, the underdog team has a half-goal advantage, while -0.25 means the favourite team will start a quarter of a goal behind. That’s Asian handicap explained in a nutshell.

It’s a simple concept at heart, but with all the different numbers at play, it’s easy to get confused. That’s where this guide can help you make the most of handicap betting. Look at the examples and table below to ensure that you’ve fully had Asian handicap explained before getting started.

 

Asian Handicap Explained in Detail

Level Handicap:

Asian Handicap 0

AH 0 (also known as pk, pick’em or scratch) means no advantage is given to any team, or the game starts at 0:0. If your team wins, you win. If it loses, you lose. The only difference to fixed (1×2) betting is the draw option is eliminated altogether, meaning if the game ends without a winner, you get your stake back. This type of handicap betting is the same as a Draw No Bet market.

Single Handicap:

Asian Handicap -0.5

This handicap gives a disadvantage of half a goal to your selection. Since, half a goal is impossible, your bet wins if your team wins even by a single goal difference. However, should your selection lose or the match end in a draw, you lose.

Asian Handicap -1, -1.5, -2, -2.5, etc.

Whatever the number, it just represents the disadvantage given to your selection. If there is a game between Manchester United and Middlesbrough, most people would expect Manchester to win. Therefore, the favorite will be given a very short price (say 1.15) and not many people will be interested to bet. Similarly, although the coefficient for Middlesbrough winning might seem attractive, it is highly unlikely that the team wins, so not many people would bet on that either. However, betting with AH -2 might be more realistic and therefore the odds might be more attractive.

AH-2 would mean that Manchester starts the game at 0:2. The teams has to score at least 3 goals in order for your bet to win. If the result is 2:0, this would be a draw for you and you would merely get your stake back. Any result below – you lose. Any goal above – you win.

If instead you had chosen AH-1.5, 2 goals difference by Manchester would be enough for you to win. If the game ends at 2:1, your bet loses, but a result of 2:0 or 3:1 means your bet is winning.

Split/Double Asian Handicap Explained:

Asian Handicap -0.25 (0,-0.5), -0.75 (-0.5, -1), -1.25 (-1, -1.5)

These handicaps sound a little more complicated, but as you have Split Asian Handicap explained, you will see that there is nothing really complex about double handicap betting.

AH -0.25, or sometimes represented as (0,-0.5) or -1/4, is an example of a split or double handicap. This means that you are actually placing two bets. The first one is an AH 0 – if your team wins, you win. The second part of your bet goes on AH -0.5 and will win if your team wins even by a single goal.

Similarly, AH-0.75 represents two bets – AH-0.5 and AH-1. Therefore, placing $10 with AH -0.75 on a game between Manchester United and Leeds, you will win if Manchester wins by 2 or more goals. If Manchester wins by a single goal, only half of your bet will be winning. If the game ends with a draw or Leeds wins, you lose both your bets.

Live Handicap Betting

Lastly, we need to get the in-play Asian Handicap explained. Betting on the AH market live, it is important to know that the bet is valid only on the remainder of the game. This means if you want to place a AH-0.5 bet on Manchester Utd. Vs Leads and the match is already 2:1, the game has to end with at least 2 goals difference, for your bet to win.

In-play handicap betting gives you the opportunity to have multiple wagers on a single game and increase your profit. It also makes the game more dynamic and interesting, by giving you the chance to predict what will happen from any point on.

To get a better idea of how handicap betting works, look at the table below, which has all scenarios in Asian handicap explained.

Now, that you have Asian handicap explained, you are ready for some handicap betting. The advantages of this market, is that payouts are usually better – 95-99%, as compared to 89-94% payout for traditional betting. As odds change frequently during the game, AH is a great way to cover for a losing bet or increase your profit.


Arbitrage Betting

Although there’s no sure bet in the world of gambling, arbitrage betting is about as close as you can get. Basically, arbitrage betting or arbing, as it’s commonly known, is a way of exploiting bookmakers’ differing odds in order to make a profit on sports betting.

Arbitrage betting usually works best in more obscure markets, because this is where bookmakers more often have differing opinions on a game’s outcome. Arbers must work fast to identify the opportunity and place the bets before the odds are adjusted as bookmakers employ advanced software to make sure such difference in odds doesn’t exist for long.

 

In a working example, you’re looking to place a bet on a tennis match with Roger Federer (Player 1) and Stan Wawrinka (Player 2). One bookmaker has odds of 1.3 on Federer winning and 3.93 on Wawrinka, while the second has 1.42 placed on Federer and 2.9 on Wawrinka.

If you put €734.1 at 1.42 on Federer with the second bookie and  €265.9 at 3.93 on Wawrinka at the first bookie, regardless of which Player wins, you will pocket €1043 out of €1000 initial investment, thus making a SURE PROFIT of €43. So either way, you win.

The exact mathematical formula to calculate the needed stakes is as follows:

Sum of Implied Probabilities = ((1 / decimal odds for Player 1 to win) x 100) + ((1 / decimal odds for Player 2 to win) x 100)

((1 / 3.93) x 100) + ((1 / 1.42) x 100)) = 25.5% + 70.4% = 95.9%

Every time the sum of implied probabilities is lower than 100%, an arbitrage opportunity has presented itself.

 

Individual bets = (Investment x Individual Implied Probability %) / Sum of Implied Probabilities %

Individual Bet on Player 1 at 1.42 = (1000 x 70.4%) / 95.9% = €734.1

Individual Bet on Player 2  at 3.93 = (1000 x 25.5%) / 95.9% = €265.9

 

Source: Pinnacle

HOWEVER…

Some sites state that arbing is a surefire way to make a profit, but it’s not without its pitfalls.

After all, it’s called “gambling” for a reason. There is always some risk involved, even if it’s minimal.

Though it can lead to big wins for arbers, this form of betting is not liked by bookmakers and when detected, your accounts may be limited to small stakes only or even completely closed. Only a few bookmakers are arbitrage friendly. One of them is Pinnacle, you will never get your account limited there, but of course they manage their odds carefully and you will rarely find arbing options with them.

Another serious danger is that one of the odds may become unavailable or decreased while you are betting the other one. For example, while you are placing your bet on Player 1 at 1.42 in Bookmaker B,  Bookmaker A might adjust the odd for Player 2 down to 3.40 and you end up with an open position on Player 1 and no chance to make arbitrage anymore.

In addition to the drawbacks listed above, bettors who use this system will need to have multiple accounts, and not all of those accounts will have sufficient funds at all times. One account may be plentiful, while another may be close to being overdrawn. Keeping all of your money in one account makes it easier for bookmakers to catch on that you are engaging in arbitrage betting.

In order to succeed at this type of sports gambling, the bettor really has to know what they are doing, and know how to act quickly and knowledgeably. It’s also a good idea not to make huge bets but to bet small stakes at a time until you can figure out the proper way to succeed. Once you’ve got it down, you can really begin making some nice profits.