| A | |
| Accumulator | A bet where the punter chooses a selection in several matches and all selections must win for the bet to be a winner. |
| Also Ran | Any selection not finishing in the top required places in a race, event or match. |
| Ante Post | This term comes from horse racing but is now applied to most sports. Ante-post prices are those on major sporting events, prior to the day of the event itself. In return for the chance of better odds, punters risk stakes are not returned if their selection does not take part. |
| Arbitrage | Where a variation in available odds allows a punter to back all occurrences and guarantee a win. |
| Asian Handicap | A football betting term where one team is awarded a headstart. The bookmaker adds this amount onto the final score to determine the winner. |
| B | |
| Banker | A favourite selection or “sure thing”. What is seen as a guaranteed winner. In permutation bets the banker is a selection that must win to guarantee any returns. |
| Book | A bookmaker’s record of each bet on all competitors and the associated odds. |
| Bookmaker | A company who accepts bets, also known as a bookie. |
| Break Even | Where a bet yields no profit and no loss. |
| Burlington Bertie | Odds of 100 to 30. |
C | |
| Canadian | A multiple bet consisting of 26 bets (10 doubles, 10 trebles, 5 four-folds and 1 five-fold) with five selections in different events. |
| Co-Favourites | Where three or more competitors share the status as favourite (lowest odds). |
| D | |
| Dead Heat | Where two or more competitors finish tied. Full odds are paid to half the stake (a third if a triple dead heat, etc.). |
| Double | A bet consisting of two selections, both must win for the bet to be a winner. |
| Double Stakes About | Like Single Stakes About, but where returns from the first winning selection are invested at double the original stake on the second selection. |
| Doubling-up | The basis of some widely used systems (see Martingale). After a loss the punter doubles the size of his last bet hoping to win back the money lost and make some profit. |
| Drift | When the odds on a competitor get bigger, they are said to have drifted. |
| E | |
| Each-Way | A bet which consists of two wagers. The first is for the selection to win and the second is for the selection to place (usually top 3 or 4). Has roots in horse racing betting but now applied to first goalscorer bets. |
| Evens | Odds of 1 to 1 or 2.0 in decimal pricing |
F | |
| Favourite (aka Fav) | The participant or runner considered most likely to win and therefore has the shortest or lowest odds. |
| Fold | When preceded by a number, a fold shows the number of selections in an accumulator (e.g. four-Fold= four selections). |
| Forecast | A bet that involves predicting the first and second for a particular event. |
| Form | Past results used as a prediction for a team or competitor’s chances of winning. |
| G | |
| Goliath | A multiple bet consisting of 247 bets (28 doubles, 56 trebles, 70 four-folds, 56 five-folds, 28 six-folds, 8 seven-folds and 1 eight-fold) involving 8 selections. |
| H | |
| Handicap | A way to make a one sided betting event become more of a betting choice. Teams are awarded a number of goals start and bets are settled by adding the number of goals to the end-score. |
| Heinz | A multiple bet consisting of 57 bets (15 doubles, 20 trebles, 15 four-folds, 6 five-folds and 1 six-fold) involving six selection in different events. |
| I | |
| If Bet | A bet that is only placed if a certain outcome happens on a separate bet. E.g. Bet on Team y but only if Team x win. |
| J | |
| Joint Favourites (joint fav) | When two teams share favouritism (lowest odds), they are made joint favourites. |
| Jolly | Another way of saying favourite. |
K | |
| L | |
| Layer | A bookmaker or person who lays odds and takes bets. |
| Live Bet | Bets placed in real time, usually during a football match. |
| Long Odds | Odds offered against a runner unlikely to win. |
| Longshot | The un-fancied participant, with large associated odds. |
| Lucky 15,31,63 | Multiple bets on all possible combinations of four (Lucky 15), five (Lucky 31) or six (Lucky 63) selections. Lucky 15 is 4 selections, so 4 singles, 6 doubles, 4 trebles and 1 accumulator. |
| M | |
| Martingale | Betting system based on doubling bets when a previous wager loses. |
| Monkey | £500. |
N | |
| Nap | The selection that experts and tipsters choose as the likely winner. |
| O | |
| Odds | Numbers which represent the bookmaker’s view of the chance of a runner winning an event. |
| Odds Against | When the chosen odds are larger than evens. |
| Odds Compiler | The person working for the bookmaker who chooses the odds for different selections. |
| Odds On | When the chosen odds are shorter than even money, for example 1/10. |
| Outsider | The runner or participant less likely to win based on the odds. |
| Overround | The profit margin applied to the odds by the bookmaker. |
P | |
| Pari-Mutuel | A way of gambling on races in which all bets are pooled and winners are paid according to size of pool. Very similar to Tote betting in the UK. |
| Patent | A multiple bet consisting of seven individual bets involving three runners in different events. A single on each selection, plus three doubles and one treble. |
| Permutations | Perming bets or selections is similar to multiples or accas. |
| Place | The term for selections which finish in a winning position for each way bets. |
| Place Terms | The finishing positions which will be paid out if a runner finishes high up but does not win. |
| Pony | £25. |
| Punter | Word used to describe someone who places bets. |
Q | |
| R | |
| Roundabout | A bet consisting of three bets involving three selections in different events. |
| S | |
| Score | £20 |
| Shortening the Odds | A reduction of the available odds usually because of large stakes being placed or a change in the circumstances of the game (e.g. an injury to an opposition player). |
| Single | One bet on one selection to win one event or match. |
| Straight Forecast | A bet in which the punter selects the participants to finish first and second (in order). |
| Steamer | A runner where the price is continually shortening before the event. |
| System | A particular method of placing bets. |
T | |
| Tic-Tac | The code of hand signals used at racecourses in the UK |
| Tips | Recommendation from a tipster or professional gambler. |
| Tipster | The person who provides tips and recommendations. |
| Treble | A bet based on three selections, all parts of the bet will have to win for the bet to return. |
| Tricast | A prediction of the first three participants to finish, in the correct order. |
| U | |
| Underdog | The selection that is expected not to win. |
V | |
| Value | Looking for the best available odds or odds that are larger than expected. |
| W | |
| Welsh/Welch | Failing to pay up when a bet loses. |
| Win | The term used to describe a 1st place finish. |
X | |
| “X” | Used to mark a draw on old style betting coupons. |
Y | |
| Yankee | A multiple bet of 11 bets in total (six doubles, four trebles and one 4-fold) on 4 selections in different matches. |
| Z |
