Knowledge Base
Glossary
Plain-English definitions for the terminology used across Fan Strategy.
- Accumulator
- An accumulator is a single bet that links multiple selections; all must win for the bet to pay out.
- Arbitrage
- Arbitrage involves betting on all possible outcomes of an event across different bookmakers to lock in a risk-free profit.
- Asian Handicap
- Asian Handicap is a type of handicap betting that eliminates the draw outcome and offers split handicaps for more nuanced betting.
- Back Bet
- A back bet is a wager that an outcome will happen, like betting on a team to win.
- Bankroll Management
- Bankroll management means deciding how much money to risk on bets to avoid losing your funds quickly.
- Bet Exchange
- A bet exchange is a platform where bettors can back and lay against each other, often with lower fees than traditional bookmakers.
- Bookmaker
- A bookmaker is a company that sets odds and accepts bets on sports events.
- Both Teams to Score
- Both Teams to Score is a bet on whether each side will score at least one goal during the match.
- Cash Out
- Cash out lets you settle your bet before the event ends, locking in a profit or limiting a loss based on the current score.
- Correct Score
- Correct score is a bet on the exact final score of a match, such as 2-1.
- First Goalscorer
- First goalscorer is a bet on which player will score the first goal in a match.
- Free Bet
- A free bet is a promotional credit you can use to place a bet without risking your own money, with winnings usually returned minus the stake.
- Juice
- Juice, also called vig, is the commission a bookmaker charges for taking a bet, built into the odds.
- Lay Bet
- A lay bet is a wager that an outcome will not happen, such as betting against a team winning.
- Live Betting
- Live betting allows you to place bets on a match while it is in progress, with odds that change as the game unfolds.
- Matched Betting
- Matched betting uses free bets and lay bets to guarantee a profit by covering all possible outcomes of an event.
- Moneyline
- Moneyline is a bet on which team will win a match outright, with odds expressed as a positive or negative number.
- Odds
- Odds represent the probability of a specific outcome happening and determine how much you can win if your bet is correct.
- Over/Under
- Over/Under is a bet on whether the total number of goals scored in a match will be more or less than a set number.
- Parlay
- A parlay is a bet that combines two or more selections, requiring each to win to receive a payout.
- Point Spread
- Point spread is a handicap given to the underdog to level the playing field, indicated by a number of goals.
- Stake
- The stake is the amount of money you put on a bet.
- Unit
- A unit is a standardized amount of money used to measure the size of a bet, typically a fraction of your total bankroll.
- Value Bet
- A value bet is when the odds offered by a bookmaker are higher than the true probability of the outcome, giving you an edge.