All you need to know about betting terminology:

A

Accumulator
Wager where a punter (by making a series of selections from any number of events) uses a single stake to create two or more bets in succession. Each time any selection wins, the stake - plus any winnings - is wagered on the next selection. A loss by any selection in the accumulator means the entire bet is a loser.

Ante Post
Bet placed on a future event or outcome. Most commonly found with horse racing, golf, soccer and American Football betting.

Arbitrage
Taking two seemingly conflicting positions on different index markets for the same match or matches - done in the expectation of generating a profit regardless of the result.

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B

Bar Price
Refers to the odds of all those at the last quoted price and bigger. For example, lists at large field events, e.g. Odds to win the English Premier League may be as follows: 2/1 Manchester United, 3/1 Liverpool, 5/1 Arsenal, 8/1 Newcastle, 12/1 BAR. 'BAR' shows that every other team in the betting list have odds of 12/1 or bigger.

Bettor
Someone (also called punter or customer) who places a bet.

Bookmaker
Someone who accepts a bet. (Also known as "Bookie")

Buying Price
The higher figure quoted by an Index bookmaker.

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C

Canadian or Super Yankee
Twenty-six bets on five selections in different events. For example, 10 doubles, 10 trebles, 5 four-folds and 1 five-fold. To bet a £1 Canadian/Super Yankee will cost £26.

Circled Game
A game where bookmakers place a limit on what they're willing to accept from the bettor.

Controlled Risk
A form of bet in the index market that automatically controls the amount of money a gambler can lose.

Credit Bet
Bets accepted by the bookmaker without any cash deposit.

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D

Debit Bet
Bets accepted by the bookmaker without any cash deposit but which allows the bookmaker to directly debit the gambler's bank account.

Dividend
The return for a single winning unit on a Tote bet.

Double
One bet on two selections. Both selections must be successful for a return.

Draw
A result where the scores are level at the end of play (also known as a "Tie" in the United States).

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E

Each-Way
Comprises two separate bets of equal value, one on a selection to win and the other for that selection to be placed in an event, commonly horse racing or golf. £1 each-way is bet as £1 to win and £1 for a place, total stake £2.

Even-Money
Odds signify that the winnings will be exactly the same as the amount staked. For example, winning a £10 bet at even money returns £10 plus £10 staked, total £20.

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F

Favourite
Person or team thought most likely by odds-makers to win an event.

Five-Fold Bet
One bet on five selections in different events. All five must be successful.

Forecast
Predicting the result (often used in horse race bets to predict the first two places in a race).

Four-Fold Bet
One bet on four selections in different events. All four must be successful.

Futures
Bet or bets placed on a future event or outcome. Commonly found with horse racing, golf, soccer and American Football betting. (Also known as Ante Post)

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G

Gambler
Someone who places a bet. (Also known as a bettor or punter)

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H

Handicapping
Assigning weights or points to horses, players or teams participating in a particular event to reflect their strength or weakness and to forecast the outcome of future events or contests.

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I

Index Market
An alternative term describing the spread bet market.

In Running
A term used to describe a race or event that is in progress.

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L

Lines
Handicaps, pointspreads and odds offered to the punter.

Long-term
An index market whose final make-up is at least seven days after the date when the bet is placed.

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M

Margin Call
A call made by a bookmaker to the bettor for cash to cover some or all of the bettor's exposure to loss.

Money Line
Amount you must bet to win 100 or the amount you win if you bet 100.

Multiple Bet
A bet on two or more teams or outcomes, whereby the original stake and subsequent winnings are re-invested into as many selections as the bettor includes in his bet.

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N

Number Spread
An index spread based upon the number of runs, goals, and points scored in an event.

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O

Odds
Handicaps, pointspreads and prices offered to the punter. Similar to Lines.

Odds-Against
When the amount you win is more than the amount you bet.

Odds-On
When the amount you win is less than the amount you bet.

Off-The-Board
Term used to signify that the bookmaker is not accepting bets on a particular event.

Outsider
Not the favourite of the bookmakers or bettors.

Over/Under
A bet on whether the total combined points, runs goals, etc will be more or less than a specified number.

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P

Parlay
A bet on two or more teams or outcomes, whereby the original stake and subsequent winnings are re-invested into as many selections as the bettor includes in his bet.

Patent
Seven bets on three selections in different events. For example, combining singles, doubles and treble.

Performance Index
An index reflecting the comparative performance of individuals or teams in a particular event.

Pointspread
The start that the favourite gives to the underdog.

Price
Handicaps, pointspreads and odds offered to the punter.

Punter
Someone (also called bettor or customer) who places a bet.

Push
A game that (including the pointspread) ends exactly on the number that the oddsmaker predicted.

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R

Returns
Total money paid to bettor (including stakes) on a winning bet.

Risk/Reward
Refers to how much risk you will accept in order to win a bet.

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S

Selling Price
The lower figure quoted by an Index bookmaker.

Single Bet
A bet on one selection, which must be successful to gain a return.

Spread
The difference between the higher and lower figures quoted by an Index bookmaker.

Stake
Amount of money placed on a bet.

Supremacy
Spreads based on the margin of victory between teams or players.

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T

TOTE
Acronym for "Horserace Totalisator Board". A Pool (also known as "pot") based system where all bets are pooled and following the race distributed among all winners.

Treble
One bet on three selections in different events. All three must be successful to gain a return.

Trixie Bet
Four bets on three selections in different events. For example, 3 doubles and a treble. To bet a £1 Trixie will cost £4.

True Odds
Your own analysis (independent of the bookmaker' opinion) of what the odds should be in a particular event.

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V

Value
Signifies when a bettor gets better that the True Odds from a bookmaker.

Volatility
Term used to express the range of possible results in a particular Index bet.

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W

Win Bet
Bet placed will only generate a return if the selection wins outright.

Win & Place
Similar to an each way bet except the stake laid to win is greater that the stake laid to place.

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Y

Yankee
Eleven bets on four selections in different events. For example, combining 6 doubles, 4 trebles and 1 four-fold accumulator. To bet a £1 Yankee will cost £11.

Your Choice
An equal match Index bet where the bettor determines the favourite team or individual.

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