Sports Betting Terms

Below is a list of common sports betting terms. Numerous synonyms exist for many terms, as many countries use their own terms. Here we focus on terms used in Australia. Popular synonyms are given in 토토사이트.

The basics

• Sports betting - a form gambling that entails placing a wager on the outcome of a sporting event. The primary intent is to win additional money.
• Bookmaker - a company that offers betting odds and is licensed to accept wagers.
• Betting exchange - a service that provides a marketplace in which odds are set. 
• Back - bet that an outcome will occur. For example, if you bet on Arsenal to beat Chelsea, you are backing Arsenal.
• Lay - bet that an outcome will not occur. For this reason with a lay bet you are essentially playing the role of the bookmaker. 

Bet categories

• Single bet – a bet on a single outcome within a particular event or tournament. Examples include a bet on the Warriors to win the NRL Premiership, a bet on Federer to beat Nadal, and a bet on Dan Carter to score the first try in a rugby game.
• Multi bet – a bet that includes simultaneous selections on two or more outcomes for two or more events. If a least one of the outcomes does not occur then the bet automatically loses. The multi bet odds equal the product of the individual selection odds. Multi betting is discussed in detail later in the guide.
• Fixed odds bet – a form of wagering where the punter knows the exact odds he/she will receive when they place a bet. The odds are fixed once the wager has been placed.
• Tote betting – a form of wagering in which all bets of a particular type are placed together in a pool. The “house-take” is removed, and the payoff odds are calculated by sharing the pool amongst all winning bets. In Australia it is known as the Tote after the totalisator which calculates and displays bets already placed. With the Tote the bookmaker displays the approximate odds that they believe you will receive. This approximation is based on the quantities of bets received to that point.

Popular bet types

• soccer fixtures. The bet wins if your selected team wins or draws the game. Note that this term is distinct from a half ball Asian handicap where one team is given a 0.5 goal head start. In this case a draw would result in a win for the (+0.5) handicap wagers and a loss for the (-0.5) handicap wagers.
• Head to head bet (1X2)- a bet on the winner of a fixture between two opponents. Where a draw is possible (football, rugby, AFL, etc.) there are three options: team A to win, team B to win, or a draw. Where a draw is not possible (tennis, baseball, basketball, etc.) there are only two possible outcomes. This bet could apply to a specific period of the game (e.g. first half in rugby, 3rd quarter in basketball) or to the full-time result.
• Line bet (handicap bet) – a bet where the the underdog is given a points head start to create an even bet. Line bets are typically designed to give each team a 50% chance of winning. For example in a game between the Blues and Stormers, the line odds could be: Blues (-6.5), Stormers (+6.5) with each team having odds of 1.92. This bet could apply to a specific period of the game (e.g. first half in rugby, 3rd quarter in basketball) or to the full-time result.
• Margin bet – a bet on the amount of points (or goals) that one competitor finishes an event in front of another competitor. For a rugby game between the Blues and Stormers, a margin bet could be on the Blues to win by between 1 and 12 points. This bet could apply to a specific period of the game (e.g. first half in rugby, 3rd quarter in basketball) or to the full-time result.
• Over/under – a wager on how many goals/tries/points there will be in the fixture. This combines the tallies of both sides. If a football game ends 3-1, the total is 4. If the over/under bet was 3.5, then the “over” wagers win and the “under” wagers lose.
• Spread betting – a type of high risk betting where the payoff/loss is proportional to the accuracy of the wager. This contrasts with standard bets that either result in a loss of your wager or a payout based on the wager odds. The spread is a range of outcomes, and the bet is whether the outcome will be above or below this spread. To learn more, see the section on spread betting.