Sports Betting Terms

All In - A betting proposition were no refunds are given for scratchings or withdrawals.
All Up - A bet were the stake and winnings of one bet are placed on another bet this can occur two or more times.
Arbitrage: A bet that locks in a guaranteed profit, whatever the outcome.
Back: To place a bet.
Bet: To risk something on the outcome of an event
Betting In the Run: To keep betting on an event after it has started, through to its completion or until the result becomes too obvious.
Board: Where betting odds, pools and other information is displayed.
Blue: Dispute over a wager.
Bowler: (Australian) A friend or acquaintance or other contact who is used to place bets so that the bookmaker will not know the identity of the actual punter. Many professional punters and persons occupying sensitive positions use this method of wagering.
Box: A combination bet whereby all possible numeric combinations are covered.
Buck: Australian) $1
Buy Points: In sports betting, a player pays an additional price to receive half a point or more in his favor on a point spread game.
Cadger (Australian):  Description given to a punter who continually asks for better prices / odds that are currently on offer.
Call: A running commentary of the position of horses in a race at various points.
Claim: Amount of weight deducted by an apprentice jockey according to the number of winners ridden in a period of time.
Correct Score: A bet that involves correctly predicting the final score of a game.
Correct Weight: Declaration of official finishing positions.
Cowboy: Jockey with little ability.
Cover: Win by more than the point line or spread. If such occurs you have "covered the spread or line".
Daily Double: (American) Type of wager calling for the winner of two consecutive races. Australians call this a Running Double.
Daily Double: (Australian) Type or wager calling for the winner of two pre-determined races.
Dead Heat: Race in which two or more competitors finish exactly even.
Disqualification: Change in order of finish by officials for infraction of the rules. (Often occurs after correct weight has been given)
Dividend: Winnings or odds described in $ terms.
Drift: When the odds on a team, horse or competitor lengthen.
Each Way: To bet an amount to finish first and an amount to finish a place. The amount of place positions and place odds are determined by the individual conditions of each event.
Edge: An advantage.
Even Money: Odds of 1 to 1
Exacta: A wager in which first and second finishers must be selected in the exact order.
Exotic Bet: Any bet other than a straight out bet.
Exposure: The amount of money the house actually stands to lose on a game or a race.
False Favourite: Team, horse or competitor who is a favourite despite popular opinion of being outclassed by others in the event.
Favourite: Team, horse or competitor most likely to win as determined by the odds.
Figure: Amount of money owed by or to a bookie.
Field: The group of horses in a race.
First Goal scorer: A bet placed on a player to score the first goal in a game.
First Try scorer: A bet placed on the player to score the first try in a game.
Fixed Odds: Fixed odds are a set price at which the Win portion of a bet will be paid at the fixed price as determined by the bookmaker.
Flat Line: Point betting where no half point is added.
Fold: (European) When preceded by a number, a fold indicates the number of selections in an accumulator.
Forecast: (European) A bet that involves correctly predicting the first and second in a particular event. This wager can be reversed or permed.
Form: The performance expected according to how a team, horse or competitor looks on paper.
Fraction: A calculated form of betting with odds where the punter obtains an advantage when betting to a specified amount usually in multiples of 1000$
Furlong: One eighth of a mile.
Futures: Odds posted on major sporting events well in advance of the event.
Getting Down: (American) Making a wager.
Goliath: (European) A goliath is a multiple consisting of 247 bets involving 8 selections in different events. The bet breakdown is 28 doubles, 56 trebles, 70x4-folds, 56x5-folds, 28x6-folds, 8x7-folds and one 8-fold.
Good Thing: (Australian) A description of a sure winner
Grand: $1000
Gross Win: Win before expenses.
Half time bet: In sports betting this is a bet placed only on the second half of the game.
Handicap: A method used by bookmakers to make a one sided event become a more attractive betting proposition, also know as a point spread.
Handicapper: (Australian) Official who determines the weight a horse will carry in a thoroughbred race.
Head To Head: betting odds quoted for a two result betting proposition.
Hedging: Placing bets on the opposite side in order to reduce losses or guarantee a minimum amount of winnings.
Home Ground Advantage: Advantage the home team is expected to have as a result of familiarity with playing arena and effect of travel.
Hot Go: (Australian) Heavy action on one horse or team.
Knock Taker / Knocky: (Australian) Punter or bookie who doesn't pay.
Laying It On: (Australian) Taking a bet at odds on / less than even money.
Layoff: Wager made by one bookie to another to balance his action.
Limit: Maximum bet accepted by the bookie before the price / odds will change. The amount of credit a punter / client is given by a bookie.
Line: The current odds or point spread on a particular event.
Long shot: A team, horse or competitor that is unlikely to win according to the odds.
Locked In: (Australian) Committed to a bet. Locked In to a profit ; can't lose a bet no matter what the result.
Money line: This is where odds are expressed in terms of money. With money odds, whenever there is a minus (-) you lay that amount to win a hundred dollars, where there is a plus (+) you get that amount for every hundred dollars wagered.
Monkey: (Australian) $500
Mug: (Australian) Punter with little ability
Multi: (Australian) A description of a bet were there are two or more different betting propositions that must win to collect, all winnings are carried over to the next event.
Odds: The likelihood of the outcome occurring, stated in numbers form.
Odds Against: Odds greater than even money. A bet where your stake is less than the amount you expect to win.
Odds On: Odds of less than even money. Bets where you have to stake more than the amount you expect to profit by.
On The Nose: Betting to win only.
Parlay: A bet with two or more teams where all the teams must win for the punter to be successful.
Past The Post: (Australian) A description of a sure winner.
Pick / Pick Em': A game with no favourite, an even match-up.
Place Bet: (Australian) Bet to finish first, second or third and in golf tournaments sometimes to finish fourth or fifth.
Player: Punter, punter, gambler, competitor.
Point Spread: Used in football and basketball to make the game even by adding points to the score of the outsider / underdog or subtracting points from the favourite.
Pony: (Australian) $25
Performance Bets: Form of index betting when an artificial point scale is used to measure the outcome of a sporting event.
Price: The odds (line) or point spread.
Punt: To bet.
Punter: Description given to punters, gamblers and bookie's clients. The main man.
Push: Tie, neither side wins and all money is returned to the punter except in the case of "half face value of ticket".
Quaddie: Type of wager calling for the winner of four pre determined events.
Quinella (Standard): A Standard Quinella is when two runners are selected to place first and second in any order.
Quinella (Box): A Box Quinella allows the ability to choose as many runners as you like from the same race, however two of the selections must place First or Second in any order.
Rotten Egg: (Australian) Punter who has a history of not paying his debts.
Rundown: Updates of all odds, lines, point spreads and scores.
Runner: One who places bets or gathers betting information for another.
Running Double: Type of wager to pick the winner of two consecutive races.
Score: A big betting win.
Scratch: To start from zero.
Scratched: Withdrawn, cancel. A horse is scratched from a race / withdrawn.
Smarty: Established and successful punter.
S.P.: (Australian) Abbreviation for "starting price".
Spread: Abbreviation for point spread
Square: Unsophisticated gambler.
Starting Price: The price / odds of a horse, team or competitor at the start of the event.
Straight Out: A bet to win only.
Stop Loss: (and stop profit) Used in index betting to seal your calculated loses on a betting proposition. i.e. rugby league stop loss 40 - you can only win or lose 40 times your stake.
Take the Price: (Australian) Taking the fixed odds on offer.
Tic Tac: The sign language that was used by bookmakers to relay odds to each other on course.
Tip: Knowledgeable advice as to the probable winner of an event.
Tote Odds: The dividend converted to odds returned by a pari mutuel betting system.
Tout Service: A business that sells opinions and information on sporting events.
Tray: (Australian) $300
Treble: A bet consisting of three selections, all of which must win for the wager to be successful.
Trifecta: Betting proposition in which first, second and third must be picked in correct order. This bet is often boxed.
Turn Over: Total amount of bets wagered with a bookie.
Two and Three Ball: Golf betting that involves predicting a player from a group of two or three to score the lowest over 18 holes.
Under Dog: The outsider in a betting proposition.
Value: Getting the best odds on a betting proposition; the highest possible edge.
Win: Bet to finish in first place.
Wooden Spoon: A betting proposition in which it is required to pick the team which finish last in a competition at the end of the home and away season.
72 Hole Match Bets: A wager where two golfers are matched against one another usually at pick em' odds, with the winner being the player who shoots the lowest score over the tournament.

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Accumulator – An accumulator includes four or more bets. All bets in an accumulator must win.

All Up Bet – An all-up bet involves choosing a maximum of four selections (Win or Place) in four different races. The prices of all selections (legs) are multiplied to determine the final dividend.

Best Fluc – Best fluc wagers can be placed up to 30 minutes prior to the advertised start-time of each race and are available on most Metropolitan meetings. The Win dividend is paid at the best of the Official Bookmakers’ fluctuations and the Place is paid at a price equivalent to the Tote Place dividend declared in the state in which the race is run.

Best Odds – Best odds is available on non-Metro races. It guarantees the better of the official Bookmakers’ starting price (SP) and the official Win dividend.  The punter should follow the odds at the various TAB’s (VIC, NSW, UNI) before selecting the Best Odds option of the one which is paying the highest price for the selected horse.

Box Trifecta – A box trifecta is a bet where you to choose three or more selections. You can choose as many runners as you like from the same race, however three of the selections must place First, Second and Third.

Box Quinella – A box Quinella is where you choose more than two selections. You can choose as many runners as you like from the same race, however two of the selections must place First and Second in any order.

Country Best – Bets available for all non-metropolitan thoroughbred races. Country Best is the dividend of the Vic and NSW TABs  for Win, Place, and Each-Way wagers.

Daily Double -This is a bet on the first place position in two consecutive races, generally the first two of the day.  The punter must correctly pick both races to win.

Daily Triple/Pick Three - This is a bet on the first place position in three consecutive races.

Exacta - This bet is on the first and second place horses in a given race in the correct order.

First Four – First four betting requires nominating the first four (4) place getters in correct order.

First Goal – A bet where you place a soccer bet on who gets the first goal of the match.

First Team to Score – This is a bet on the first team to score in the rugby tournament.

First Goal – A bet where you place a soccer bet on who gets the first goal of the match.

First Try Scorer  - this is a bet on who will score first in the rugby game.

Fixed Odds – is a set price at which the Win portion of a bet will be paid at the fixed price as determined by the bookmaker.

Futures Betting - Futures betting offers future bets with great odds on big upcoming events.

Highest Innings Score – A cricket bet based on the highest number of runs either side will score.

Last Try Scorer – this is a bet on the player who scores last in the rugby game.

Line Betting:  Line betting is also known as handicap or points start – is a popular bet type where the bookmaker has handicapped an event.

Lowest Innings Score – A cricket bet based on the lowest number of runs either side will score.

Match Betting - Odds on both rugby teams to win the match.

Match Score –A cricket wager  where the punter tries to  predict how many runs a team will score in a certain match.

Match Bets – A cricket wager where a punter picks the team that wins a match.

Money Line Bets - A money line refers to odds on the straight up outcome of a game with no consideration to a point spread.

Multi Bets – Multi bets s are made up of a combination of bets, all bundled into one in order to multiply the odds. They provide greater return than a standard bet, but at greater risk.

Over/Under Bets – An over/under bet is a wager in which a sportsbook will predict a number for a statistic in a given game and punters wager that the actual number in the game will be either higher or lower than that number.

Outright Winner – This is a bet on who you think will win a rugby tournament.
                                                                                       
Parlays – A parlay is a single bet that is combined with other individual bets and is dependent on all of those wagers winning together.  The key advantage of a Parlay is that only some – not all – of your multi-bet legs need to be successful to win a dividend. In addition, some Parlays also include single bets on each selection or leg.

Place - This is a bet that the chosen horse will finish first or second.

Proposition Bets – A proposition bet is a bet made on at outcome or proposition.

Quinella - This is a bet is on the first and second place horse in a given race in any order.

Season’s Points – For this bet, a prediction is made on how many points each side will win during the course of the cricket season.

Show - This is a bet that the chosen horse will finish first, second, or third.

Standout Trifecta – A standard trifecta bet is where you select as many runners as you like from the same race, however you must nominate the runner you think will place First, Second or Third.

Starting Price – SP is the official and final Bookmakers’ price up until the advertised start time of the race and is only available for Thoroughbred racing for telephone betting. If a Win or Win/Place wager is placed at SP, the Win portion will be paid at a rate equal to the official on-course Bookmakers’ SP.

Standout Quinella – A standout Quinella is where you select as many runners as you like from the same race, however you must nominate the runner you think will place First or Second.

Straight Bet – This is the most simple soccer bet. You just have to pick the correct result of one event to win the soccer bet.

Stroke Line Betting – The winner will be the player with the lowest golf score.

Team Performance – Predictions are made on the overall performance of a team during a rugby match.

Top Batsman – A cricket wager  where a punter predicts which batsman will score the most runs in a match.

Total Runs in an Inning – A cricket wager based which predicts the total number or runs each side will score in an individual Inning.

Tournament Bets – A cricket wager where the punter places a wager on the team that will win the entire tournament, rather than just one match.

Top Try Scorer Betting – A wager when you predict the top scorer of the rugby competition.

Total Points – This is betting on the total number of points that will be scored during the rugby game.

Total Goals - A bet where you bet on the total number of soccer goals scored.

Teasers - A teaser allows the punter to combine his bets on two or more different games. The punter can adjust the point spreads for the two games, but realizes a lower return on the bets in the event of a win.

Treble Bet – A treble is made up of three bets. All three must win for you to win.

Trifecta - This bet is on the first, second, and third places in a given race in the correct order.

Win - This is that most basic bet that the chosen horse will finish in first place.

72 Hole Matchup Betting – The winner will be the player with the highest placing at the end of the golf tournament.

18 Hole Matchup Betting – This bet is the same as the 72 Hole Matchup bet, but is based on 18 holes. The winner will be the player with the highest placing at the end of the golf tournament.

3 Ball Betting – In most tournaments, golfers go out in groups of three players. This is typically known as 3 balls and creates a betting opportunity called 3 balls. The wager is based on each player to be the lowest scorer of the three over eighteen holes.

2 Ball Betting – For the final two days of golf tournaments, players will go out in groups of two. The wager is based on each player to be the lowest scorer of the two over the round.

Sports Betting – Frequently Asked Questions

• What is sports betting?  Sports betting is the general activity of placing a wager on a sporting event.

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