Knowledge Base
Glossary
Plain-English definitions for the terminology used across Pitch Notes.
- Accumulator
- A single bet that links multiple selections; all must win for the bet to pay out.
- American Odds
- Odds expressed as a positive or negative number, indicating how much profit a $100 bet would make or the amount needed to win $100.
- Arbitrage
- Exploiting differences in odds across bookmakers to guarantee a profit regardless of the outcome.
- Asian Handicap
- A spread betting system that eliminates the draw outcome and offers two possible bets.
- Bankroll
- The total amount of money set aside for betting.
- Betting Exchange
- A platform where bettors can back and lay against each other, often with lower vig.
- Cash Out
- A feature allowing the bettor to settle a bet before the event ends, locking in a profit or loss.
- Decimal Odds
- A way to express odds as a single number that includes the stake; calculated as potential return per unit bet.
- Enhanced Odds
- Boosted odds offered by a bookmaker for a specific event, increasing potential payout.
- Fractional Odds
- Odds displayed as a fraction, showing the profit relative to the stake.
- Futures Bet
- A bet placed on the outcome of a tournament or award, settled after the event.
- Hedge
- Placing a bet on the opposite outcome to reduce loss or secure profit.
- Lay Bet
- Betting against an outcome, common on betting exchanges.
- Live Betting
- Placing bets on a match while it is in progress, with odds that update in real time.
- Moneyline
- A bet on which team will win the match outright, without any point spread.
- Over/Under
- A bet on whether the total number of goals in a match will be higher or lower than a set number.
- Parlay
- A bet that combines two or more selections; all must win to receive a payout.
- Point Spread
- A handicap given to the favorite team to level the betting field.
- Prop Bet
- A wager on a specific event within a match, such as which player scores first.
- Risk-Free Bet
- A promotion that refunds the stake if the bet loses, usually as a free bet.
- ROI
- Return on investment, measuring the profit or loss from betting relative to the amount wagered.
- Rollover Requirement
- A condition that requires the bettor to wager the bonus amount a certain number of times before withdrawing.
- Staking Plan
- A strategy for deciding how much to wager on each bet, e.g., flat betting or percentage of bankroll.
- Vigorish (Juice)
- The commission charged by the bookmaker for taking a bet, typically built into the odds.