Glossary of terms to understand Sports Betting

If you are a sports fan and want to bet on your favorite team, it is important that you know and understand the betting language.
Doubts with terminologies could lead you to make mistakes and/or lose money, that’s why we put together the explanation of the most common terms so that you can apply them correctly and take advantage of their full potential.

Everything you need to know about betting types 

  1. Outright Betting – This is a type of bet that applies to a competition as a whole and not to individual events. You will be able to place bets on who will win a group, league, stage, competition and/or cups.
  2. Simple (or individual) bet: in this case the bet is made on the results of a single event or game, it is beneficial for beginner players since it only requires that one result be defined in their favor to win
  3. Combination bet : this action relates two or more individual bets. You can only win if all the games you selected are successful, if you lose any of the options in the combination, you will lose all the money wagered.
  4. System Bets – Provides the option to split the risk of accumulator bets. This means that instead of placing a single bet with all the selections, you will be able to place several groups of bets combining your picks in different ways to make a profit.

Most used terms

  • Arbitrage (betting technique): allows you to distribute the “stakes” (the amount of money that is bet on a scale of 1 to 10) in different bookmakers to play only in those with the best odds.
  • Double chances: it is when with a single bet two possible results are covered. In this case, the odds are lower but the chances of winning are increased.
  • Cover a bet: is the action of betting on the opposite side of an original bet to reduce losses or guarantee a minimum amount of money.
  • Cashout / Sell: is the option to sell or cash your bet slip for a value that reflects a loss or profit before the final result(s) of the match is known
  • Stake (Value): is the cost involved in making that bet. “High Stakes” are high value bets, while “Low Stakes” are low cost.
  • Turnover: consists of the obligation to wager a certain amount of money X number of times before being able to withdraw the balance of the account that you need to complete a bonus.
  • Underdog – Term used to refer to the underdog team in a sporting event. Being considered as the one who is not expected to win, the value of the odds is lower.

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