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A
Accumulator
A multiple bet where the winnings from the first bet is placed as the wager on the second bet and so forth and so on. To win the accumulator all bets that where taken have to win.
Action
When a bet is made on an event and the event occurs and will or has a valid outcome the bet is considered Action.
All Up
See Accumulator.
Ante Post
A bet that is placed long before an event occurs. Usually better odds are given but the punter can stand the risk of bet not being returned if the team/player they bet on withdraws.
Arbitrage
When the variation of the odds are so that a punter can bet on either outcome and is still guaranteed a win.
B
Bet
When you place money on a certain outcome.
Bookmaker
The person or organisation that accepts a punter's bet and wager.
C
D
Dead Heat
When, from the outcomes possible, the event ends with all the players/teams on equal points, the same time, etc., i.e, there is no winner.
Dog
Not the woof kind ;-) , but is short for "underdog".
E
Event
Refers to the sporting event that the betting will take place on.
F
Favourite
The team or player that is considered to have the best chance of winning the event.
G
Golden Goal
The golden goal rule is usually applied when a match (usually soccer or field hockey) ends in a draw after regulation time. Extra time is then played, and whichever team scores first is then declared the winner and the match ends. In essence the same as sudden death.
Gross Win
The amount that is paid out after a bet was won including the punter's wager.
H
Handicap
The handicap is the disadvantage given to the favourite and the advantage given to the underdog to even the betting on the event so that more value can be placed on the bet. Also known as a spread.
I
J
K
L
Lay Bet
With this bet you place your wager on the player/team/horse that you think will lose the event.
Line
The odds or price that a punter will multiply his wager with so as to ascertain his winnings.
M
N
Net Win
The amount that a punter wins excluding his initial wager.
O
Odds
The amount a punter can win if a bet is placed, i.e. 4 to 1 odds (written as 4/1) would pay a punter 4 times what he bet if it is a winning bet.
Oddsmaker
The person or organisation that determines the odds that will be presented for an event.
Outright
When a bet is placed that a team/player will win the event outright.
P
Payoff
The profit made on a punter's bet.
Payout
The total winnings on a punter's bet.
Place
A type of bet that can be made on the chances that a team/player will finish the event in a certain place (i.e. 2nd, 3rd, etc. place).
Player
A person that participates in a sporting event.
Punter
The person that places a bet. Also called a Bettor
Puppy
Not the cute kind ;-) , see Underdog.
Push
When an event ends in a draw, and the only bets where for a definitive win or lose, the punter's usually get their wagers back.
Q
R
Return
A Punter's stake and winnings.
S
Stake
Not the MMmmm kind either (that is spelt steak), but a punter's total wager.
Sudden Death
Not as gruesome as it sounds (unless you supporting the team that loses that is...). Sudden death usually happens in a match after regulation time has been played (and any extra time that might have been allowed), and both teams are still drawn. The first team to then score is then declared the winner and the match is ended.
T
Tournament
A single event that includes multiple games or events with the prospect of naming a team/player as the overall winner.
U
Underdog
The team or player that is considered to be a weaker opponent that the other and is expected to lose. This doesn't imply that the underdog will lose.
V
Value
When a bet is considered to be a good bet (i.e. good odds or at a good price)
