All Betting Terms Explained
Understand the betting jargon with our comprehensive dictionary of betting terms, covering everything from arbitrage to yield.
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Miki PaletRelated Reading
Understanding 3-Way Handicap Betting
The 3-Way handicap, also known as the European handicap, might seem complex at first glance. We'll explain it in this blog to help you make informed betting decisions.
What You Need to Know About Parlay Bets
Parlay bets, known for their potential to significantly increase winnings from a single stake, spark considerable interest among bettors. We explain how they work in this blog.
Understanding Different Betting Odds Formats
Each betting odds format has its unique measurement system, and knowing the advantages and disadvantages of each can significantly impact your betting choices. We're going to compare and contrast the three primary odds formats: European, British, and American.
A-Z Betting Lexicon:
- Account: A registered platform where a user can manage bets, transactions, and personal details.
- Action: Participation in betting activities.
- Arb: A scenario offering a guaranteed profit regardless of the outcome, derived from discrepancies in bookmakers' odds.
- Arber: An individual who engages in arbitrage betting.
- Asian Handicap: A betting format that provides a more balanced betting environment through fractional or decimal handicaps.
B-E Terms:
- Bad Beat: A bet that seemed destined to win but ultimately lost.
- Bet: The act of wagering money on a particular outcome.
- Betting Exchange: A marketplace facilitating peer-to-peer betting, where users can both back and lay bets.
- Bettor: Someone who places bets.
- Bookie: Informal for a bookmaker or a platform accepting bets.
- Cancelled Bet: A voided wager with returned stakes.
- Chalk: The favorite in a matchup.
- Corner: In soccer, a bet on the number of corner kicks.
- Correct Score: A bet on the exact final score of a match.
F-J Insights:
- Favorite: The competitor or team most likely to win.
- Forecast: A prediction about an event's outcome.
- Fulltime: Refers to the entire duration of a match.
- Goal: Scoring point in various sports, pivotal in total and handicap bets.
- Halftime: The midway point of a game.
K-O Nuances:
- Live Betting: Placing bets on events already in progress.
- Lock: A bet considered certain to win.
- Margin: The bookmaker's built-in profit on offered odds.
- Middle: A strategy betting on two outcomes where both can win under certain conditions.
- Moneyline: A straight-up bet on the winner of a match.
P-T Explained:
- Parlay: A single bet combining multiple selections, all of which must win for the bet to pay out.
- Payment/Payoff: The process or amount received from a winning bet.
- Prediction: An educated guess on the outcome of an event.
- Stake: The amount of money placed on a bet.
- Total Over/Under: Betting on whether the total points or goals will be over or under a specified number.
U-W Definitions:
- Underdog: The competitor or team considered less likely to win.
- Value Betting: Identifying bets that offer higher odds than their true probability.
- Vig (Vigorish): The bookmaker's commission on bets.
Navigating the Betting World with ArbiChat
With this glossary in hand, you're better equipped to understand and engage in betting activities. For those seeking an edge, ArbiChat offers a surebet service that identifies profitable betting opportunities, ensuring you're always one step ahead in the betting game. Explore ArbiChat for surebets and value bets across a wide range of sports and bookmakers, elevating your betting strategy to new heights.
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