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Sports Betting Terms

Sports Betting Terms

Just like any gambling game, sports betting has its own unique range of terminology. To go through the entire list of sports betting terminology would take hours. Although you don’t necessarily need to learn any of it, it helps to learn the basics. This is what we have provided you with here. Let’s begin, then, with our simple A to Z of the basic sports betting terms.

Accumulators are cumulative sports bets, featuring several bets on one ticket. If the player lands the first bet, their winnings are transferred on as the stakes to the second bet, and so on and so forth. If you have placed a bet, you are said to have some action on an upcoming sporting event, no matter what type of bet it is. One type of bet you probably won’t be making is an arbitrage bet. Arbitrage is a rare type of bet which allows players to place bets on both sides in a game, and bag a win. It is not common at all.

It is also worth knowing the name of the place where you bet. These are known as bookies, or bookmakers. When you play online, they are called sportsbooks.

Whilst at a sportsbook, a bet you may come across is evens. With odds of 1:1, you shouldn’t expect to make much out of these bets, and they are often offered on matches where there is clearly only going to be one winner. Horse racing bets are fun to play. If you’re in the money, then your horse has successfully finished at least in the top three, sometimes even the top four, provided you have a placed bet, which can also be known as an each-way bet.

Odds which aren’t very likely to come off, but carry vast winnings are frequently known as long odds bets. Odds themselves shouldn’t really need any explanation, but for those who want to know are quite simply the rate of pay you will receive if your bet comes good. Speaking of odds on, if a bet has been described as that, then its odds are shorter than evens. If it is odds against, the bet has odds greater than evens. Meanwhile, an outsider is a bet which isn’t normally favoured to win by the bookies, but mass wagering by the public has forced them to consider it a contender. The permutations are all the possible outcomes of a bet, whilst the prize pool is the total amount you can win in a totes or pools bet. These prizes are made up of all the bets on a sporting event, and are shared between all of those with winning tickets.

If a long odds bet means one which isn’t likely to come off, then short odds obviously mean bets which are likely to see you win. These bets often pay smaller sums, though. Short odds bets are often the subject of single, or straight bets, meaning that you are wagering directly on a winner and nothing more. On many occasions, if you take these bets, you are considered to be betting on the smart money by insiders. Smart money bets are those which are favourites to come good, as decided by the people in the know (insiders). Their opinions are often expressed as tips.

Some players use systems to place their bets, which are based on mathematics. Whilst they can be successful, they can take years to master properly. Other more adventurous players may wish to bet on the underdog. After all, everybody loves an underdog. Betting on the least likely team or player to win seldom comes good, though.

So there you have it. You will quickly be able to master the terms above, and if you get a taste for it – if it rolls off your tongue – why not learn some of the more complex sports betting terms. The list is near endless after all, and there are many speciality terms for specific sports. You’ll be talking like a true sports betting fan in no time at all.

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