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Betting Terminology Explained
When you first enter the world of betting the terminology and language can be quite overwhelming! Whether you're placing a bet with an online bookmaker or down at the racetrack, you'll want to understand what everything means so you can place the bet you want to place.
The main terms used in betting can be learned in a few minutes and they will come on handy for years, as they come up time and time again and rarely change. So if you want to know your evens from your handicaps then you are in the right place.
Across the Card
What is across the card?
This term refers to the act of placing wagers simultaneously at separate meetings.
All in play or not
What does all in play or not mean?
When you hear the phrase ‘All in play or not’ - abbreviated to ‘All in’ – it refers to markets where the prices are set, whether or not the selection takes part in the race. The odds ‘include’ the possibility of the selection not taking part, so if your pick is a non-runner you lose the bet.
All Out
What does "all out" mean in racing?
Phrase used to describe a greyhound, horse or indeed a player/team pushing at the maximum for the result. For example, "the jockey is going all out on the horse to try win the race".
All Weather
What does all weather mean?
All weather racing is a type of Flat racing takes place at racetracks with an artificial surface, this allows racing to take place all year round - even during the winter. Racing can still sometimes be called off in severe weather but the surface is more robust than grass. There are six all weather tracks in the UK, three using a Polytrack surface and three using a Tapeta surface.
Kempton, Chelmsford and Lingfield are Polytrack surfaces while Newcastle, Southwell, and Wolverhampton use a Tapeta surface.
Also Ran
What's does "also ran" mean?
In Horse Racing all the runners who participated but finish outside the ‘places’ which pay out are described as also rans.
Antepost
What does Antepost mean?
This is an important term to understand for racing fans and bettors. Antepost bets are placed well in advance of the race, before official declarations and entries are released. These bets will often allow you to secure better odds than those available on the day if your selection continues to perform well, however they do come with greater risk. If your selection could not take part due to injury your bet would settle as a loser.
For example, you could place an antepost bet on the winner of the Grand National months in advance, but if the horse underperforms or gets injured so does not run in the Grand National you would lose your bet. Antepost bets are also not affected by Rule 4 deductions.
At the Post
What does at the post mean?
The race is about to begin and all the horses are ‘At the Post’, meaning on the starting line/point.
Back
What does back mean?
Place a wager on or bet on a selection.
Banker
What is a banker?
There are no guarantees in betting but a banker is considered a safe bet by bettors and tipsters - often a very strong favourite. Bettors often include a banker in a multiple or combination bet to strengthen their hand or increase the odds of an accumulator.
Betting Exchange
What is a betting exchange?
The Betfair Exchange is the most populat example of a betting exchange. It is a peer-to-peer network where bettors can offer each other wagers, so customers of betting exchanges bet between themselves rather than against the bookmaker.
BIR or BIP
What is BIR or BIP?
Betting In Running (BIR) or Betting In Play (BIP) refer to Live Betting where bettors bet during the course of a race, match or event. It is a popular way to bet on football games with in-play boosts often offered by bookmakers.
Betting W/O
What does "betting W/O" mean?
This means ‘betting without’. You can place a bet on a horse to win a race without the favourite included in the results. So, if the horse you back wins the race outright or comes second behind the favourite your bet will win.
Bookie
What does "bookie" mean?
Short for bookmaker, the person or company licensed to offer odds and accept bets from bettors.
BTTS
What does BTTS mean?
Both teams to score. A bet on both teams in a match to score at least one goal each.
Century
What is a century in betting?
Also sometimes called a ton, a century in betting terms means one hundred pounds sterling (£100 GBP).
Colt
What is a colt?
A male horse which is less then five years old. At five it becomes a Stallion.
Dam
What is a dam?
A horse’s female parent. The male parent is a sire.
Dead Heat
What is a dead heat?
Where an event is tied. Two (or more) selections finish level. In horse racing, this would be two horses crossing the line at the same time or in football betting it could be several players finishing the season with the same number of goals in the Top Goalscorer market.
Decimal Odds
What are decimal odds?
Typically the format used to express odds in Europe. The decimal odds equivalent of the fractional odds price 3/1 is 4.00, for example. The decimal odds ‘include’ the stake and potential profit. A successful £10 bet at 3/1 or 4.00 returns £40.
Evens
What does evens mean in betting?
1/1 odds, which would be 2.00 in the decimal format. A £1 stake at evens would return £2. You may also hear people refer to a selection as being "even money".
Favourite
What is the favourite?
The selection (horse, greyhound, player or teams) with the shortest odds for the win. The most fancied winner.
FGS / FPTS
What does FGS mean?
Abbreviation for First Goalscorer in football.
Field
What does "the field" mean in betting?
All the other runners / selections in a market (race / tournament etc) excluding the named favourite(s). You might hear commentators, particularly in horse racing, list the odds of selections and say "9/1 the field" which means all selections they haven't mentioned are 9/1 or bigger.
Filly
What is a filly?
A female horse will be called a Mare once it reaches five years of age, before which it is called a filly.
First Past the Post
What does first past the post mean?
The selection which is first to cross the finish line in a race. Also called the winner.
Form
What does form mean?
The performance history of an athlete, player, horse, greyhound or team. The level at which the selection usually performs or has recently performed. Used by bookmakers to set prices and by bettors to assess odds and make selections.
Fractional Odds
What are fractional odds?
The standard way of writing odds in the UK. Fractional odds allow you to calculate your potential profit not including your stake. A successful bet at 6/1 with a £2 stake earns you £12, plus you get the stake back, so your ‘returns’ are £14 in that case.
Full Time
What does full time mean?
When you back a team to win a match it is a full-time result bet. Bets in football are settled at the end of 90 minutes plus stoppage time and as standard they do not include results achieved in extra time or on penalties (unless otherwise stated).
Going
What does going mean?
The state of the ground / surface in horse racing. The basic going terms in UK racing are heavy – soft – good-to-soft – good – good-to-firm – firm. However, these can also have additiona information such as "Good-to-soft (soft in places)".
Different horses will be better suited by different groud conditions and so noting the going is crucial to making your selection in a race.
Grand
What is a grand?
A grand is one thousand pounds sterling (£1,000 GBP).
Handicaps
What is a betting handicap?
In many sports you can bet on teams or players to get results with a handicap. For example, in darts you could bet on a player to win by more than 2 legs (Player A -1.5 legs). It is a popular way to increase the odds of selections, especially with short-priced favourites. Handicap betting is available across most sports but is particularly common on US sports such as American Football or Basketball.
Handicap Race
What is a handicap race?
Common in horse racing, handicap races see horses carry different weights in order to encourage closer competition. Better horses carry heavier weights whereas less highly rated horses carry less weight. The weight they carry is established from their official British Horseracing Authority (BHA) rating.
IBAS
Who are IBAS?
Disputes between customers and bookmakers can be referred to the Independent Betting Adjudication Service (IBAS) to be resolved.
Lines
What does lines mean in betting?
Odds and handicap values offered by bookmakers to customers.
Longshot
What is a longshot?
A big-priced selection with long odds of winning. Typically this will be an unfancied horse, underdog or an outsider in a race or competition. These could then be referred to as a longshot and will have big prices as a result of their lower chance of winning.
Maiden
What is a maiden in horse racing?
In horse racing a maiden is a term used to describe a horse that hasn't won a race yet. There are also types of races called "maidens" which are only open to horses who have not won yet. You may also hear commentators or writers refer to a horse "breaking its maiden" which just means it won its first race.
Monkey
What is a monkey in betting?
Slang for five hundred pounds sterling (£500 GBP).
Nailed On
What does nailed on mean?
If a selection is regarded as almost certain to win it will be referred to as ‘nailed on’. Similar terms are a ‘sure thing’, 'a certainty' or 'a banker'.
Non-Runner
What is a non-runner?
A selection which finally does not participate in a race or competition for which it was entered. If your selection is ‘non-runner no bet’ (NRNB) your stake is returned to you.
In horse racing, non-runners are fairly common and can be caused by going, injury, illness, or other factors concerning the horse's wellbeing.
Odds
What are odds?
The price available on a selection for a bet from a bookmaker, you might as also hear it referred to as the "price" of the selection. When you see the term "odds against" it means that the price is higher than evens (2/1, 5/2 etc) so a successful bet would win you more than the stake you put down. "Odds on", meanwhile, are when the odds are shorter than evens (10/11, 1/2, etc), so your bet has a good chance of being successful but you would make a profit smaller than your stake.
On The Nose
What does on the nose mean?
Betting on a horse to ‘win only’, as opposed to backing it each way. You would only get a return if the horse wins the race outright. The alternative to this is each-way betting which means you back the horse to win AND to finish in the paid places (usually 2nd to 4th depending on the type of race) and your stake is split on those two bets. So with each way you put less money on the win, unless you double your stake.
Picks
What are picks in betting?
Tips given by experts (tipsters) on selections they believe have a good chance of winning or getting results.
Places
What does "places" mean in betting?
When a selection ‘places’ it finishes within the positions that are stated to pay out in the place terms of the race. A small number of runners might mean only the first two finishers place, whereas in a big field down to fifth or sixth might be considered a place finish.
Pony
What is a pony?
Another colloquialism for a sum of money. This time it is 25 pounds sterling (£25 GBP).
Price
What does betting price mean?
The odds a bookmaker offers bettors on a selection. Another way of asking what odds the selection is.
Punter
What is a punter in betting?
A customer or bettor. The person placing the bet with the bookmaker.
Return
What does return mean in betting?
Profit + returned stake in a successful wager.
Score
What is a score?
Twenty pounds sterling (£20 GBP).
Selection
What is a betting selection?
The athlete, player, team, individual, greyhound, horse, etc, that the punter has their bet on.
Stake
What is a betting stake?
The amount being put down or placed by the bettor on the bet.
Starting Price (SP)
What is the starting price?
The final odds on a selection at the point the race starts. It is sometimes used by bettors who think their selection will start the race a bigger price than currently available.
Tips
What are betting tips?
Also referred to as picks, these are predictions shared with the public, or indeed paying punters in some instances, by betting experts. These experts are also called tipsters.
You can head to our Tips Centre for free tips from our expert team covering a range of sports!
Tote bets
What are Tote bets?
Bets based on a pool, or combined fund of bettors’ stakes. Estimated returns or dividends for successful bets are available beforehand, but the actual amounts to be paid out are only finalised after the race when all the money has been put in.
Winnings
What are winnings?
The amount earned from a successful bet (profit) on top of the returned stake.
Bet Types
In the betting world there is an extensive list of bet types and multiples ranging from simple singles to huge multiples that include over 100 individual bets! The most common complex multiples involve horse racing, but can be found on other sports too.
Understanding all the bet types can be difficult but we've got a quick overview of each bet type below as well as links to articles with full worked examples.
No matter how complex or varied the bet type is, the objective remains the same, money is placed on a horse or horses to finish in a specified position and if the outcome is what you predicted then you win. The amount of winnings depends how much was staked and the odds the bet was taken at.
Punters that are new to horse racing will usually stick to the most basic bet types. Typically that is single and each-way bets, with accumulators at the big festivals like Cheltenham also popular.
What is a single bet?
The most common and simple type of bet, a ‘single’ consists of backing one selection, whether that’s for the next race or to win a football match.
What is a place bet?
A ‘place’ bet is another simple betting option, and in this situation, you’re backing a selection to achieve a position within the places, often the first 3, though some races have differing place terms depending on the number of runners.
By making a place bet there is a greater chance that you will be successful however the odds for a horse to place are lower. It also means that if your horse does go on to win the winnings are the same as if it has finished second.
Bettors often instead opt to combine the above two bet types into an each-way bet.
What is each-way bet?
An ‘each-way’ bet is made up of two components, a win bet and a place bet, which means that if your selection wins the race, you are paid out on both, though should your horse only finish in the places, you will still receive a return at the place terms.
What is a straight forecast?
Slightly more challenging to land, a ‘straight forecast’ requires you to successfully pick out the horses which will finish first and second in a race, in that exact order.
What is a reverse forecast?
Similar to a straight forecast, a ‘reverse forecast’ consists of two selections which you believe will finish in first and second, but it does not matter in which order they place, just as long as they occupy the first two places. This bet has two elements, and as such, a £1 reverse forecast would be a total stake of £2.
If you like two different horses and think both have a chance to win, a reverse forecast allows you to back both of them to perform well in the race, rather than just placing singles or having to pick one of the pair to back.
What is a combination forecast?
The aim of the ‘combination forecast’ is to have two selections occupying first and second in a race, but with this bet you have more than two selections, and as such the stake is increased. Here you may have 3 or more selections and will need two of them to fill the first two places, in any given order.
What is a tricast?
A ‘tricast’ bet is where you attempt to pick out the first, second and third in a specified race, with the three selections finishing exactly in the order that you state when placing the bet.
What is a combination tricast?
In a ‘combination tricast’ you are attempting to successfully pick the 1-2-3 in a selected race, but the three selections you have picked can finish in any order, just as long as they all occupy a position within the first three places in the race.
What is a multiple bet?
A ‘multiple’ bet is broad term that refers so a bet consisting of more than one selection. There are a wide range of names and types of multiple, ranging from simple doubles to multiples with over 100 individual bets! Most of the more complex mutliples have their origins in horse racing but you can sometimes use the multiples across other sports.
What is a double bet?
A ‘Double’ bet consists of two selections across two different events but on the same bet and stake, and in this case, you require both selections to win to achieve a return. If either selection loses your bet would lose.
What is a treble bet?
A ‘treble’ bet involves three selections on one bet, picked from three different events, and the bettor requires all three outcomes to be achieved for the bet to win.
What is an accumulator?
An ‘accumulator’ bet involves more than one selection on one bet, often with four or more, which requires all selections to win. If all selections in an accumulator win then the bet wins, with accumulators being particularly in football and horse racing, with our Daily Horse Racing Accumulator and weekly football accumulator particularly popular onsite.
Of course, a single losing selection results in the accumulator being settled as losing bet.
What is a trixie?
A ‘trixie’ bet consist of four bets from three selections and include three doubles and one treble. To gain a return from this bet type, the bettor must successfully pick two winners, allowing for a return even if one selection loses. Check out our trixie example for more information.
What is a patent bet?
Similar to the Trixie bet, a ‘’ also contains three selections, though this bet type has seven bets within it, due to it including three singles. In this bet you have three singles, three doubles and a treble, meaning just one winner is needed to get a return. Take a look at our patent example for more information on this multiple.
What is a Yankee bet?
The ‘Yankee’ consists of four selections, with 11 individual bets across those picks. In this bet you will have six doubles, four trebles and a four-fold accumulator, meaning you requires a minimum of two winning selections to gain a return. Check out our Yankee multiple example for more information.
What is a Canadian bet?
A 'Canadian' or sometimes referred to as a Super Yankee, requires the bettor to pick 5 selections, and across those selections there are 26 bets. As such a 10p Canadian would cost £2.60 as an overall stake, and would consist of 10 doubles, 10 trebles, 5 four-fold accumulators and 1 five-fold accumulator. Read our full break down of a Canadian bet.
What is a Heinz bet?
A ‘Heinz’ bet includes 57 bets across six selections. The bets which make up this multiple bet are as follows; 15 doubles, 20 trebles, 15 four-fold accumulators, 6 five-fold accumulators and 1 six-fold accumulator. Therefore, a 10p Heinz would result in a total stake of £5.70.
What is a Super Heinz bet?
The ‘Super Heinz’ bet requires the bettor to pick 7 selections, which results in total of 120 bets overall. The 120 bets within the Super Heinz are; 21 doubles, 35 trebles, 35 four-fold accumulators, 21 five-fold accumulators, 7 six-selection accumulators and 1 seven-fold accumulator. Find out more about a Super Heinz bet.
What is a Goliath bet?
Within the ‘Goliath’ bet, there is a total of 247 bets, across a range of eight selections. The Goliath bet includes the following; 28 double bets, 56 treble bets, 70 four-fold accumulators, 56 five-fold accumulators, 28 six-fold accumulators, 8 seven-fold accumulators and 1 eight-selection accumulator. Read more about Goliath bets
What is a Lucky 15?
The ‘Lucky 15’ is a popular multiple bet, which involves 4 selections, with 15 individual bets across those. The Lucky 15 is made up of; 4 singles, 6 doubles, 4 trebles and 1 four-fold accumulator, and therefore the bettor requires just one winning selection to achieve a return. Check out our Lucky 15 example
What is a Lucky 31?
A ‘’ is made up from 5 selections, and across those selections there are 31 bets. A £1 Lucky 31 would cost £31 as a total stake, and consists of 5 singles, 10 doubles, 10 trebles, 5 four-fold accumulators and 1 five-fold accumulator. Find out more about Lucky 31 bets.
What is a Lucky 63?
As expected, the ‘Lucky 63’ bet includes 63 bets across 6 selections. The bets which make up this multiple bet are as follows; 6 singles, 15 doubles, 20 trebles, 15 four-fold accumulators, 6 five-fold accumulators and 1 six-fold accumulator. One winning selection in this bet type would lock-in a return, whilst 6 winners would lead to a generous return, as all 63 bets involved would be settled as winners. Read more detail about Lucky 63 bets
What is an Alphabet?
Named after the alphabet due to the number of bets it contains, an ‘Alphabet’ bet includes 26 individual bets across 6 selections. This bet type consists 2 Patents (which make up 14 bets), 1 Yankee (a further 11 bets) and a six-fold accumulator (1 bet).
What is a Round Robin?
A ‘Round Robin’ bet is made up of 10 individual bets across 3 selections, these are as follows; 3 Doubles, 1 Treble and 3 Single Stakes About that combine in to 2 bets each. Read more about Round Robin bets
What is a Flag bet?
A ‘Flag’ bet is made up from 4 selections, combining the maximum variation of Doubles, Trebles and a Four-Fold Accumulator with Single Stakes About Bets across 4 selections. Within the ‘Flag’ bet there are 23 individual bets, and just 1 winner is needed in order to gain a return.
What is a Super Flag bet?
Made up from 5 selections, a ‘Super Flag’ bet contains the maximum variation of Doubles, Trebles, Four-Fold and Five-Fold Accumulator Bets with Single Stakes About Bets across 5 selections. Within this bet type, there are 46 individual bets, so a £1 Super Flag would result in a total stake of £46. Get more information on Super Flag bets.
Betting Terms
To be successful at horse racing it’s important to know the most common betting terms. This will help you read odds and race card’s whilst giving you pointers so you can determine a betting strategy that gives you a greater chance of making a profit.
What is Arbitrage?
In betting terms, ‘Arbitrage’ is a process in which you bet to cover every possible outcome of an event but doing so in a way that locks in profit regardless of the eventual outcome. Betting across multiple betting providers is crucial to this concept.
What is In-Play Betting?
Simply put, ‘In-play Betting’ is a process by which you place a bet once an event, race or match has already begun. In-play prices are likely to change quickly and often and will usually differ from the starting price.
What is Spread Betting?
‘Spread Betting’ involves betting on multiple selections within the same event, thereby enhancing your chances of a return with several outcomes covered. More information on Spread Betting.
What is Matched Betting?
The term ‘Matched Betting’ defines the process when two bettors (backers and layers) agree on a stake and the subsequent liability of a bet. The back bettor, who is betting on an outcome to happen, will be notified when their bet has matched, with this bet type often linked to an exchange platform like the Betfair Exchange. Read more about Matched Betting.
What is SP?
The term ‘SP’ is short for Industry Start Price, which is basically the odds which a horse is priced up at the exact moment that the race begins. The SP is an average of prices from across the betting industry.
What is BSP?
‘BSP’ stands for Betfair Start Price and is simply the price that a horse is priced up at the exact moment that a race begins on the Betfair Exchange. The BSP often differs from the Industry SP, is usually a higher and better price, thereby benefiting the punter.
What is Dutching?
‘Dutching’ is a betting technique whereby you have more than one selection within an event, with the ambition of gaining the same level of profit from each of the selections, and therefore the bettor will have to stake accordingly to achieve this.
What is Hedging Your Bets?
The term ‘Hedging Your Bets’ or Hedge Betting, basically involves placing multiple bets on the same market, taking advantage of variations in the market. This technique almost acts as an insurance mechanism when done correctly, and can eliminate the chance of losing, with the bettor able to guarantee a return before the event has finished.
What is Cash Out?
A quick and easy to use tool, ‘Cash Out’ is a function which is available with most betting providers and allows the bettor to take a profit before an event has completed. In addition, Cash Out allows you to take a loss in running, for example if you think your selection will no longer win the race, you can take a loss on your selection, but at least get part of your stake back.
What is Overround?
‘Overround’ can be simply defined as the practice of factoring in the profit margin implemented by bookmakers and is best displayed as a percentage. The level of Overround differs across betting providers, markets and events.
What is Scalping?
‘Scalping’ is a betting technique that relies on taking advantage of small, short-term price variations and changes on a betting exchange, such as the Betfair Exchange, to make small but frequent gains across various markets.
What is a Lay Bet?
The term ‘Lay Betting’ defines the process of using a betting exchange, such as the Betfair Exchange, where the punter believes a selection will not win or place in an event and will therefore offer odds on that event not happening. The offered lay odds will then be matched with a bettor who believes that event will happen (known as the backer) who is happy with the odds that have been offered.
What is a Back to Lay Betting?
‘Back-to-Lay betting’ is a betting technique whereby the bettor will place a bet on a selection at high odds and look to lay that same selection at a lower price on the Betfair Exchange or another exchange platform, thereby locking in a profit regardless of whether the selection actually wins the contest or not.
What is Lay to Back Betting?
Another betting technique can be identifies in 'Lay-to-Back betting', wherby the bettor will look to lay a selection on an exchange platform at an agreed set of odds, before then backing the same selection in play or closer to the event starting at a higher price. The variation in odds will result in a profit secured before the event is completed.
What is Asian Handicap Betting?
'Asian Handicap Betting' is a form of sports betting which is very popular across Football markets. The Handicap element means that one team receives a "virtual advantage", effectively leading the game by a differing amount(s) before the event kicks-off, and therefore often results in more enticing odds as opposed to standard home-draw-away prices.
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