It’s normal that when rubbing shoulders with the first articles and texts in general regarding sports betting, beginners were presented with some unknown terms, many of them in English. It happens that this world has its own words and several of them are essential to understand the operation and dynamics of sports betting. The list could be really long, so we will stop at those basic concepts that do not stop being essential to start betting.
All in: bet the total of the bank in a single move.
Simple bet: it consists of playing a certain amount of money to the result of a punctual sports event.
Combined bet: consists in choosing a set of sporting events (they can be different sports) and multiplying the respective quotas among themselves. To win you have to hit all the forecasts.
System bet: it is a variant of the combined bets in which the main difference is that it is not necessary to guess all the odds to win. For example, in a 2/3 system, two hits will suffice to give the winning bet.
Live betting (live betting): are the plays that are made while the chosen sporting event is being played.
Secure bet (surebet): it is a bet from which we will obtain benefits regardless of the result of the event. For this, the quotas of different betting houses are taken advantage of, with which it is essential to be registered in several.
Free bet: this type of bet arises from rewards, gifts or bonuses that betting companies offer in order to keep their users happy or captivate potential customers. Freebets have a fixed amount (30 euros, for example), which is not charged in case of profit.
Value bet: these bets are so called because the associated probability of their odds is higher than the estimate of the real probability made by the bettor.
Back: term widely used in exchange bets to refer to the player who bets in favor of a result.
Banker: this is a bet in which the odds of winning are very high.
Bankroll: “banca” in Spanish, is the total amount of money available we have for betting.
Bookmaker (or bookie): company that offers a sports betting service.
Welcome bonus: promotion that betting houses use to attract customers. Some operators offer 100% bonuses (up to a certain amount of money) on the first deposit, although this varies a lot.
Fee: is the factor that determines the possible winnings in a bet. To estimate the potential benefits of a play we must multiply the quota by the amount invested.
Deposit: is the money that the user enters in the account that previously opened in a bookie.
Double opportunity: market very present in football betting, in which the player bets on two of the three possible alternatives. For example, in a Barcelona Vs Real Madrid, we bet on the “Barcelona wins or draw” option. The chances of success increase, although profitability decreases.
Handicap: addition or subtraction that is made to the result of a game of football, tennis, basketball or other sport, which significantly changes the odds. Example: if we bet that Atlético de Madrid beats Malaga with handicap +1, at the end of the match we will have to add a goal to the set colchonero. This means that, if the match ends 1-1, we will win the bet because for us it will be 2-1. Another one of the many options in that game would be to bet that Atlético wins with handicap -1. In that case, to win the bet, the Madrileños would have to win at least by two goals of difference.
Lay: usual term of cross bets that is used to refer to the party that bets against a result.
Over / Under: is one of the most popular markets in football betting. The operators establish a line that is usually at 2.5 and bettors make their predictions: more than 2.5 goals (in total in the game or a team itself) or less than 2.5 goals. It is also possible to bet with respect to corner kicks, yellow cards and other gaming situations.
Pick: is how the tipsters call the predictions they make.
Stake: it’s about the money that we will put into play in a bet, depending on the confidence we have in producing the result in question.
Tipster: is nothing but a forecaster. It deals with defining the probability that a sporting event will end with such a result.
Stake unit: is the minimum amount that the bettor will put into play in a bet. It is usually around 1% of the bank, although this depends on each case. The amount of units that will be risked is determined by the probabilities of hitting, the confidence and the value of the bet.