Here is a list of the most common betting jargon explained that you will come across on betting sites and forums:
1X2 – A double bet. 1 = Home win. X = Draw. 2 = Away win. Therefore 1X is home win or draw etc.
Accumulator (also Fold and Parlay) – Otherwise known as a multiple bet. A selection of two or more bets intended to make big winnings from a small stake.
Ante-Post (or Futures) – Betting on a future event. Ante-post prices can be on football top scorers, outright winners, next manager etc.
Arbitrage/Arbing (also Dutching, Greening Up and Surebet) – Where it’s possible to to back all outcomes of an event/match and guarantee a profit. Very productive with in-play tennis matches.
Banker – A team highly-expected to winner.
Bettor – American term for ‘Punter’.
Book – A bookmaker’s tally of bets on each competitor, and odds necessary to assure him of profit.
Bookmaker/Bookie – Person who is licensed to accept bets.
Buck – American term for a bet of $100.
Canadian (also Super Yankee) – A multiple bet consisting of 26 bets, made up of 10 doubles, 10 trebles, five 4-folds and one 5-fold.
Century – A bet of £100.
Chalk – American term for picking the favourite choice.
Chalk Player – American term for someone who only bets on the favourites.
Cover – To beat the spread by the required number of points.
Dead Heat – A tie in a race
Dime – American term for a bet of $1000.
Dividend – The agreed payout or return on any bet.
Double – A bet on two separate events.
Doubling-up – The term used when a punter has lost a bet, and is doubling the size of his next state, hoping to clear his loss and make a profit.
Drifting (also Lengthen) – Odds that are getting longer
Dutching (also Arbitrage/Arbing, Greening Up and Surebet) – Where it’s possible to to back all outcomes of an event/match and guarantee a profit. Very productive with in-play tennis matches.
Each Way – A combination of betting on an event to win and/or place. The bet is split into two, the stake for the win and place are the same, but the odds different. If your selection wins, but the place bet also wins.
Even Money/Evens – 1/1 odds.
Favourite – The event the sportsbooks rate most likely to win (typically the most money bet on it).
Fixed Odds – The odds you got when you placed your bet, and that will be paid out for, no matter how much the odds fluctuate after your bet.
Fold (also Accumulator and Parlay) – Otherwise known as a multiple bet. A selection of two or more bets intended to make big winnings from a small stake.
Forecast – A bet that involves correctly predicting the 1st and 2nd places for a particular event.
Form – Recent performances
Futures (or Ante-Post) – Betting on a future event. Ante-post prices can be on football top scorers, outright winners, next manager etc.
Goliath – A multiple bet consisting of 247 bets, from 8 selections. This is broken down as 28 doubles, 56 trebles, 70x 4-folds, 56x 5-folds, 28x 6-folds, 8x 7-folds and 1x 8-fold.
Grand – £1,000
Greening Up (also Arbitrage/Arbing, Dutching and Surebet) – Where it’s possible to to back all outcomes of an event/match and guarantee a profit. Very productive with in-play tennis matches.
Handicap (also Line and Spread) – Method used by bookmakers to make a one-sided event attractive. The favourites are given negative points and the underdogs positive points, with your backer needing to win the event with these points in place.
Heinz – A multiple bet consisting of 57 bets from 6 selections. The is broken down as 15 doubles, 20 trebles, 15x 4-folds, 6x 5-folds and 1x 6-fold.
Joint Favorites – When a sportsbook or bookmaker cannot split two selections, and therefore both have the same, shortest odds.
Lay Bet – Betting against an outcome. See more on Lay Betting
Lengthen (also Drifting) – Odds that are getting longer
Line (also Handicap and Spread) – Method used by bookmakers to make a one-sided event attractive. The favourites are given negative points and the underdogs positive points, with your backer needing to win the event with these points in place.
Lock – American term for a highly-expected winner.
Long Odds – An unfancied selection (100/1 or more)
Lucky 15 – A multiple bet consisting of 15 bets from 4 selections, made up of 4 singles, 6 doubles, 4 trebles, and 1 4-fold.
Lucky 31 – A bet consisting of 31 bets from 5 selections, made up of 5 singles, 10 doubles, 10 trebles, 5x 4-folds and 1x 5-fold.
Lucky 63 – A bet consisting of 63 bets made up of 6 selections, made up of 6 singles, 15 doubles, 20 trebles, 15x 4-folds, 6x 5-folds and 1x 6-fold.
Monkey – £500
Money Line – The amount that must be bet to win £100, or the amount won for a £100 bet.
Nap – A newspaper tipster’s best bet of the day.
Nickel – American term for a $500 bet.
Odds – The probability of an event
Odds-against – Where the odds are greater than evens.
Odds-on – The favourite, where the odds are below evens.
Over/Under – A bet on whether the total points or goals scored by the two teams will be over or under a specified number.
Parlay (also Accumulator and Fold) – Otherwise known as a multiple bet. A selection of two or more bets intended to make big winnings from a small stake.
Patent – A bet consisting of 7 bets from 3 selections, made up of a single on each selection, plus 3 doubles and 1 treble.
Permutations/Perm – Where you have made 3 (or more) selections (A, B and C) and you ‘perm’ all the possible doubles. In this case all the doubles possible are AB, AC, and BC; a total of 3 individual bets.
Pick (also Tip) – A recommended bet from an ‘expert’.
Place – A finish in the top three, top four and sometimes also top five in a competition or event. Your place bet will win if the selection you bet on is among those placed.
Price – The odds.
Punter – Someone who bets
Push – A game that is tied when points spread is factored in. Your stake will be returned.
Return – What you receive from a winning bet (stake + winnings)
Round Robin – A bet consisting of 10 bets, made up of 6 singles, 3 doubles and 1 treble.
Score – £20
Shorten – Odds that are getting shorter
Single – The most simple of bets, and most common; one selection.
Sportsbook – American term for ‘Bookmaker’.
Spread (also Handicap and Line) – Method used by bookmakers to make a one-sided event attractive. The favourites are given negative points and the underdogs positive points, with your backer needing to win the event with these points in place.
Spread Betting – Point spreading. Can lead to huge wins and losses and therefore is very risky.
Stake – The amount you place on your bet.
Super Heinz – A bet consisting of 120 bets from 7 selections. This breaks down as 21 doubles, 35 trebles, 35x 4-folds, 21x 5-folds, 7x 6-folds and 1x 7-fold.
Super Yankee (also Canadian) – A multiple bet consisting of 26 bets, made up of 10 doubles, 10 trebles, 5x 4-folds and 1x 5-fold.
Surebet (also Arbitrage/Arbing, Dutching and Greening Up) – Where it’s possible to to back all outcomes of an event/match and guarantee a profit. Very productive with in-play tennis matches.
System – A method of betting, usually mathematically based, used by a punter to try to get an advantage.
Teaser – A points spread based bet where the punter can move the line in his favour, in return for reduced odds.
Tip (also Pick) – A recommended bet from an ‘expert’.
Tipster – A person who makes recommendation on the outcome of an event.
Totals – Sports bet on whether the combined number of points or goals scored by the two teams will be over/under a given mark.
Tote – A system to offer pool betting on horse races.
Treble – A triple bet on three events. A short form of accumulator.
Tricast – A bet that involves correctly predicting the 1st, 2nd and 3rd places for a particular event.
Trixie – A multiple bet consisting of 4 bets made up of 3 selections. This breaks down as 3 doubles plus 1 treble.
Underdog – The team that receives a point start in a handicap. An unfancied winner.
Value – Getting the best odds on a bet.
Winning Margin – A bet predicting the winning margin.
Yankee – A multiple bet made up of 4 selections, consisting of 11 bets; 6 doubles, 4 trebles and 1x 4-fold