Online Betting Terminology

Online Betting Terminology

Posted on November 23, 2023 by in Gambling

The landscape of online betting has evolved significantly over the last decade. It’s a world filled with jargon that might sound alien to a novice, but the terminology used is relatively easy to understand once broken down. The following guide will define and explain various terms that are commonly used in online betting, helping you to navigate your way through different platforms more easily.

Bet Types

1. Single Bet:

A Single Bet is the simplest form of betting. You predict an outcome, place a bet, and if your prediction is correct, you win. It is straightforward and easy to understand, especially for beginners.

2. Accumulator:

Also known as an ‘acca’, an Accumulator involves multiple bets (two or more) combined. All predictions must win for the bettor to get a return. The potential return on accumulators is generally higher due to the increased risk involved.

3. System Bet:

A System Bet combines different Accumulator bets in a way that increases your chance of winning. It’s a more complex betting strategy and involves covering several combinations of results.

4. In-play/Live Betting:

In-play betting, also known as live betting, allows bettors to place bets after the event has started. Odds change in real-time according to the progress of the event.

Betting Odds

1. Fractional Odds:

Predominantly used in the UK and Ireland, fractional odds show the potential profit relative to the stake. For example, odds of 5/1 mean that for every £1 bet, the potential profit is £5.

2. Decimal Odds:

Decimal odds are commonly used in mainland Europe, Canada, and Australia. They include the stake in the potential returns. For instance, a decimal odd of 6.0 means that for every £1 bet, the total return (profit plus stake) is £6.

3. Moneyline/American Odds:

American odds, or Moneyline odds, are used mainly in the USA. Positive odds show how much you’d win on a $100 stake, while negative odds show how much you need to stake to win $100.

Common Betting Terms

1. Bankroll:

Your Bankroll is the amount of money you have dedicated to betting. Proper bankroll management is crucial to ensuring sustainable betting.

2. Bookmaker/Bookie:

A bookmaker or bookie is an organization or a person that accepts and pays off bets on sporting and other events at agreed-upon odds.

3. Handicap:

Handicap betting involves giving one selection a virtual deficit (a handicap) to overcome at the start of the event. This makes the game more balanced and exciting.

4. Over/Under:

Over/Under betting involves betting on the number of a certain event happening in a game. For instance, betting on over/under 2.5 goals in a football match means you’re betting on whether there will be more or less than 2.5 goals in the game.

Conclusion

The world of online betting can seem daunting at first with all the terminology, but it becomes easier to understand over time. Knowledge of these terms can significantly enhance your betting experience and could potentially increase your chances of winning. Remember, betting should be a fun pastime, so always bet responsibly and never more than you can afford to lose.

FAQ

1. What is a stake in betting?

The stake refers to the amount of money you are placing on a bet. If you place $10 on a team to win, your stake is $10.

2. What does ‘each way’ mean?

‘Each way’ is a type of bet that is actually two separate bets: one for the selection to win, and one for the selection to ‘place’ (finish in one of the top positions).

3. What is a ‘void bet’?

A void bet is a bet that is not valid, and as a result, you neither win nor lose. The stake is returned back to your account.

4. What is ‘cash out’ in betting?

Cash out is a feature offered by some online bookmakers where you can take a payout on your bet before the event has finished, which can either secure a profit or limit a loss.

5. What is ‘hedging’ in betting?

Hedging is a betting strategy that involves placing bets on different outcomes to secure profit regardless of the result, or reduce risk of a potential loss.

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