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Sports Betting A-B-C

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  • 1X2: A classic bet type where you bet on a home win (1), a draw (X), or an away win (2).

  • 2-Way Bet: A bet with two possible outcomes, e.g., win or lose, without a draw.

  • 3-Way Bet: A bet with three possible outcomes, e.g., win, draw, or lose.

A

  • Accumulator: A bet that combines multiple individual bets. All selections must win for the accumulator to be successful.

  • Asian Handicap: A type of bet where the draw is eliminated by giving one team a virtual advantage or disadvantage.

B

  • Banker: A bet considered very likely to win.

  • Betting Exchange: A platform where bettors can bet against each other rather than against a bookmaker.

C

  • Cash Out: A feature that allows bettors to settle their bet before the event has finished, securing a portion of the potential winnings or losses.

  • Correct Score: A bet on the exact final score of a match.

D

  • Double: A combination bet consisting of two individual bets, both of which must be correct to win.

  • Double Chance: A bet that covers two of the three possible outcomes (e.g., win or draw).

  • Draw No Bet: A bet where the stake is refunded if the match ends in a draw.

E

  • Each Way: A bet that consists of two parts: one for the win and one for the place.

  • Edge: The advantage a bettor has over the bookmaker.

F

  • Fixed Odds: Odds that are fixed at the time the bet is placed and do not change.

  • Free Bet: A bet placed without using the bettor’s own money, often offered as a bonus.

G

  • Goliath: A combination bet consisting of 247 individual bets from eight selections (28 doubles, 56 trebles, 70 four-folds, 56 five-folds, 28 six-folds, 8 seven-folds, and one eight-fold).

  • Grand Salami: A bet on the total number of points or goals scored in all games in a league on a given day.

H

  • Handicap: A type of bet where one team is given a virtual advantage or disadvantage to level the playing field.

  • Hedge: A strategy where a counter bet is placed to minimize risk.

  • Heinz: A combination bet consisting of 57 individual bets from six selections (15 doubles, 20 trebles, 15 four-folds, 6 five-folds, and one six-fold).

I

  • In-Play Betting: Betting that takes place while the event is ongoing.

  • Implied Probability: The probability derived from the bookmaker’s odds.

J

  • Juice: The margin or profit that a bookmaker takes from a bet.

K

  • Kelly Criterion: A mathematical formula used to determine the optimal size of a bet based on the probability of winning.

L

  • Lay Bet: A bet against a specific outcome, often placed on betting exchanges.

  • Live Betting: See In-Play Betting.

  • Lucky 15: A combination bet consisting of 15 individual bets from four selections (four singles, six doubles, four trebles, and one four-fold).

  • Lucky 31: A combination bet consisting of 31 individual bets from five selections (five singles, ten doubles, ten trebles, five four-folds, and one five-fold).

  • Lucky 63: A combination bet consisting of 63 individual bets from six selections (six singles, 15 doubles, 20 trebles, 15 four-folds, six five-folds, and one six-fold).

M

  • Moneyline: A bet on the outright winner of a match without considering point spreads or handicaps.

  • Martingale System: A betting strategy where the stake is doubled after each loss to recover losses.

N

  • Nap: The best bet of the day, often recommended by experts.

  • No Action: A bet that is canceled and the stake is refunded.

O

  • ​Odds: The prices that reflect the probability of a particular outcome.

  • Over/Under: A bet on whether the total points or goals scored in a game will be over or under a specified number.

P

  • Parlay: A combination bet where all selections must win for the bet to be successful.

  • Patent: A combination bet consisting of seven individual bets from three selections (three singles, three doubles, and one treble).

  • Point Spread: A type of bet where one team is given a virtual advantage or disadvantage to level the playing field.

Q

  • Quinella: A bet where the first two places are predicted in any order.

R

  • Return: The amount paid out on a winning bet, including the original stake.

  • Round Robin: A series of combination bets that cover multiple selections.

S

  • Stake: The amount of money placed on a bet.

  • Spread Betting: A type of bet where the profit or loss depends on the accuracy of the prediction.

  • Super Heinz: A combination bet consisting of 120 individual bets from seven selections (21 doubles, 35 trebles, 35 four-folds, 21 five-folds, seven six-folds, and one seven-fold).

T

  • Teaser: A combination bet where the point spreads or over/under lines are adjusted in the bettor’s favor.

  • Total: See Over/Under.

  • Trixie: A combination bet consisting of four individual bets from three selections (three doubles and one treble).

U

  • Underdog: The team or participant considered less likely to win.

  • Unit: A standardized betting amount, often defined as a percentage of the betting bankroll.

V

  • Value Bet: A bet where the probability of an outcome is higher than the odds offered by the bookmaker.

W

  • Wager: Another term for a bet.

  • Win Bet: A bet on the outright winner of an event.

Y

  • Yankee: A combination bet consisting of 11 individual bets from four selections (six doubles, four trebles, and one four-fold).

Z

  • Zig-Zag Theory: A betting strategy based on the assumption that teams have a higher probability of winning after a loss.

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