Sports Betting Terminology
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Bet Type |
Description |
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Ante-post betting |
Ante-post prices are the prices offered on all major events before the actual event. Bets are taken on the understanding that if the selection does not take part in the event, the wager is lost. |
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Dead-heat
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Two or more players/ teams have tied for the win or place. When a dead-heat is declared the odds you were given will have to be recalculated. The odds are calculated as follows: - 5/1 Tiger Woods place bet - 5 places are paid and Tiger finished 5th tied with Zach Johnson and M100 was staked on Tiger for a place. - Tiger and Zach will be a dead-heat and the odds taken on Tiger will be halved and half of the money staked will be lost. - 5/1 becomes 5/2 - The M100 on this bet will be halved to M50 so the bet becomes M50 at 5/2 The adjusted bet will be 125/50 |
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Evens |
A price in which the winnings are equal to the original stake money (1/1 or 1). |
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Favourite |
A team/player/horse considered most likely to win, with the shortest associated price, e.g. 7/10 |
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Outsider |
A team/player/horse considered unlikely to win. Usually associated with a large price, e.g. 50/1 |
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Leg |
1 selection in a multiple bet. For example, a five-fold will have 5 legs. |
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Limits |
The win limit is the maximum amount a punter may win on a particular event. There may also be limits imposed on stake and wager. |
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Odds on |
A betting price where the odds are lesser than evens i.e. the winnings are smaller than the stake, e.g. 0.7 |
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90 minutes / Regulation time |
Usually associated with knockout soccer matches where there is a chance for extra time. ‘’In 90 mins and/or In regulation time’’ means the moment of the match before the referee blows the whistle after 90 minutes (with injury time) and before extra time if the match is a draw. |
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Overtime |
Extension to a tied contest at the end of regulation play that lasts until a winner is determined or maximum overtime periods expire. |
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Price |
An alternative name for odds of a market / match / event. |
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Fractional / Decimal prices |
Different ways of expressing prices e.g. 7/10 is a fractional price, whereas 0.7 is the equivalent in decimal price format |
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Selection |
Your prediction against which you are betting |
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Stake |
The amount of money you wish to bet. |
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Stop Loss |
The maximum that can be won or lost on a spread bet. For example: In a total goals market for a soccer match the stop loss will be 5. Let’s say the opening quote is 2.5 - 2.7 and you go high at 2.7. If the final score is 4-4, there have been 8 goals and your profit should be 8 - 2.7 = 5.3; but because the stop loss is at 5, the maximum to be paid will be 5. |
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Scratching and deductions rule:
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This rule may be applied when an entry has been withdrawn (not under orders) and there is not enough time for the betting market to be reformed. Deductions are made from winnings based on the price of the withdrawn entry when it was withdrawn. Often applicable in horse-racing, e.g. If a 2/1 favourite in a horse-race is withdrawn/scratched, a 30% deduction will be placed on bets on other runners taken prior to the scratching. Bets taken after the markets have been readjusted and are not subject to deduction. |
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Winnings |
The amount of money you win over and above your original stake. |