Betting terms and betting terminology explained

In regards to betting terms, the companies providing games in the industry offer various odds for the games. Most of you know that you can tip the match winner, but more than that, there is a number of games that are more difficult to understand. Because of this, we have written a useful guide where different game terms that appear in betting and odds are explained. We hope that this guide will help you get better oriented in the world of betting. Take a further look at the betting terms.

The various betting terms and betting terminology

The term 1X2

1X2 is among the most popular kinds of betting. You can bet on three different results in a match. In the case you bet one, you will be backing the home team. In the case you bet X you are wagering on a draw and in the case you bet two you will be supporting the visitor team. There are sports like tennis where you are not able to bet X as there are just two potential outcomes.

The term American odds

When it comes to betting terms explained, odds are presented in a special way in the USA. The format for American odds, also popular as Money line, could be either a positive or a negative number. The American odds will be negative in the case the points is 2.0 or lower in decimal format. A negative American odds shows you every time the amount you need to bet in order to win a hundred, the decimal odds equivalent of the minus two hundred American odds is 1.50.

Sports betting american odds explained

You need to bet two hundred to win one hundred. If the decimal odds are more than 2.0, for example 4.0, then the American odds become positive, plus three hundred, this gives you information how much your net profit will be when you wager one hundred. Bear in mind that if, for example, the decimal odds are 2.0, then the American odds will be either minus hundred or plus hundred.

The betting terms betting exchange

A betting exchange behaves in a very similar way to the stock market, but you trade wagers instead of trading shares. Instead of wagering against your bookmaker, you wager against other players and players are those who set the odds. On a betting exchange, you have two betting options, you can either place a “lay bet” – in this case, you place a bet against something to happen, or you can place a “back bet” – in this instance you place a bet on something to happen. It is known that betting exchanges provide excellent odds. The biggest betting exchange in the world is Betfair.

The betting terms fractional, or British odds

In the United Kingdom, the odds are in fraction format, for example, 6/1, 11/4, ½. The easiest way to read fractional odds is when you look at the first digit as being the part you win and the other number as being the part you have to wager on. In regards to the odds of ½, you have to place a bet two to win one; these odds equal 1.50 in decimal format.

Fractional odds in sports betting explained

The betting terms both teams to score (BTTS)

This is one of the betting terms explained simply by the name; you wager on both teams to score in a certain game.

The betting terms combo bet/combination bet/accumulator

Combo bet is when you combine two or more wagers that when taken together make bigger odds. If you are to win the combo bet, you have to win all the selections you have made within the combo.

The betting term double

There are two selections within a double; it is a wager that multiplies the odds of two wagers into one.

The double chance betting term

Double chance is another variation on 1X2 meaning that you wager on two results in a game with three potential results. You can place your bet one 1X, X2 or twelve. If you wager on 1X, then you win when a home win or a tie occurs. If you wager on X2 then you win in case the visitor team wins or in case there is a tie. If you wager on twelve, then you win in case either the home or away team wins.

The DNB (draw no bet) term

Draw No Bet means you receive a refund for your stake if the game finishes in a draw. You wager on either the home or visitor team, however, if the game results in a draw, you receive your money back.

The decimal odds or European odds term

In Europe, there is a common use of decimal odds. If, for example, the decimal odds are 2.50 and you place a ten pounds bet on it and then you win, your total return will be ten pounds multiplied by 2.50 which equals twenty-five pounds.

How to calculate decimal odds in sports betting?

The halftime/fulltime term

Whenever you wager on halftime/fulltime you have to predict the outcome of a game at halftime and fulltime. For instance, you can wager on the visitor team to have a lead at halftime and for the game to finish in a draw at the fulltime.

The handicap betting term

The handicap betting is a term of the betting terminology that has turned out to be much more common. Lately, the bookmaker gives the less strong side a virtual goal advantage so it can even up the market.

The live betting term

In regards to this one of the betting terms explained, these days most of the internet bookmakers provide live betting, meaning that you can wager on the ongoing game you choose. Understandably, there is a fluctuation of the odds all the time during the sporting event.

The ML (Money line) term

The money line comes in use when you wager on a contest winner where no point spread is used and the bettor only has to choose the winner, victory’s margin is of no importance whatsoever. The term money line is in some situations spelled as moneyline.

The goal line (number of goals) term

The goal line bet is pretty much the same as the common under/over bet; the only difference is that it comes with more outcomes than simply lose or win. For instance, you will get a refund for your stake if the total of goals is the same as the goal line you have played. In addition, goal lines are appearing like this: 1.25, 1.75. If you wager on more than 1.25, this means that you have got half of your stake on more than one and also half of your stake on the more than 1.5 goal line. It means that if the game finishes with a single goal, you will receive half of your stake back because the more than 1 part is a push and you will also lose on the more than 1.5 part.

Goal lines betting explained

The over/under (number of goals) term

This is a very popular kind of betting; you simply have to place your bet on over or under a given number of goals in a particular game. For instance, you can place your bet on over 2.5 goals, or you can place it on under 2.5 goals. If in your opinion there will be two goals or less, you place your bet on under 2.5 goals. And if you believe that the game will be with three goals, you place your bet on over 2.5 goals.

The scorecast term

A scorecast bet is when you combine two bets. First, you have to properly choose the initial goal scorer (it is also possible to be the last goal scorer or a goal scorer from any time) and then you pick the right match outcome. Scorecast wagering is very appealing to novice players because of the probability of large returns on tiny bets.

The single bet term

This is a bet you place on only one choice or market. The betting experts highly suggest single bets as they provide larger winning percentages and they are quite likely the most secure and safe way to long-term winnings.

The arbitrage bet/ safe bet/sure bet term

The sure bet, also popular as arb or arbitrage bet, is a wager on an event which ensures a profit. This is possible because of the odds differences at various betting sites and by wagering on the difference outcomes on the bookmakers with the top odds you can get a guaranteed profit, no matter the result of the game. This kind of betting requires a huge bankroll as the average betting you get per single betting round is just 2.5 -3.0%. You have to keep in mind that bookmakers do nott welcome this at all and will promptly close or limit your account if they have any suspicions.

The timecast betting terms

A timecast bet is when you combine two predictions which are the first goal scorer and when exactly the goal will occur within the game. This kind of bet generates huge odds because it is tough to make an accurate prediction.

What is the meaning of timecast in sports betting

The units term

Units are a part of the betting terminology that are a measurement for the relativity of a bet. A unit equals a percentage of the total bankroll, which is usually one percent. The purpose of units is that players with different bankrolls can make a comparison between the sizes of their bets.

The valuebet term

A valuebet is when you think that the odds are larger than the exact probability of a certain outcome. Many players struggle to discover such odds where they assume that the bookmaker has mistakenly quoted the odds. For instance: in your opinion, England possesses a sixty percent chance of winning a home game against its opponent France. You discover odds of 2.00 offered for a home win, and now you have to see if the wager has value. When you use a simple formula, you make the calculation that 0.6 (60%) X 2.00 = 1.2, and because the result is more than one, it is in fact considered a value bet.

The void betting terms

This is any bet that was canceled because of some rule or a reason and when you get your stake refunded to your account.

The wincast term

This is a kind of bet where you can make a prediction for the first goal scorer (it could be any time or last) as well as a prediction for the winning team.

The winning margin bet betting terms

This is a kind of bet part of the betting terminology where you make a prediction about the extra number of goals by the winning team the match will be won with. For instance, if you have placed a bet on a winning margin of two goals, the team has to win with 2-0, 3-1, 4-2. It does not matter which team will win the game with the margin you have selected when you place a winning margin bet; it is enough only one of the teams to win with the chosen margin.