Knowledge Base
Glossary
Plain-English definitions for the terminology used across Fan Strategy.
- Accumulator
- A bet that combines multiple selections into one wager, and all selections must win for the bet to pay out.
- Asian Handicap
- A spread betting system that gives a virtual advantage or disadvantage to teams to level the playing field and reduce the chance of a draw.
- Bankroll
- The total amount of money you have set aside for placing bets.
- Bet Builder
- A feature that lets you create a custom bet by combining different outcomes from the same match into one slip.
- Bet Slip
- The digital ticket where your chosen bets, stake, and potential payout are recorded before confirmation.
- Cash Out
- A feature that lets you settle a bet before the event ends, locking in a profit or limiting a loss based on current odds.
- Closing Line
- The final set of odds offered just before an event starts, used to gauge the accuracy of earlier predictions.
- Double Chance
- A bet that covers two of the three possible outcomes (win, draw, loss) in a match, increasing your chance of winning.
- Draw No Bet
- A wager where you pick a team to win; if the match ends in a draw, your stake is refunded.
- Edge
- The perceived advantage you believe you have over the bookmaker's odds, often based on analysis or information.
- Even Money
- Odds expressed as 1:1, meaning a winning bet returns the same amount as the stake, doubling your money.
- Free Bet
- A promotional credit the bookmaker gives you to place a bet without risking your own money; winnings are usually paid out minus the free bet stake.
- Handicap Betting
- A market where a fictional deficit or surplus is applied to a team’s score to create more balanced odds.
- In-Play
- Bets placed after an event has started, allowing you to react to the unfolding action.
- Juice
- The commission or fee that the bookmaker adds to the odds, often reflected in the difference between the true probability and the offered odds.
- Kelly Criterion
- A mathematical formula used to determine the optimal size of a bet relative to your perceived edge.
- Live Betting
- Another term for In-Play betting; wagers placed while the match is ongoing.
- Margin
- The bookmaker’s built-in profit margin, expressed as a percentage, which ensures they make money regardless of the outcome.
- Odds Boost
- A promotional increase of odds on a specific selection, offering a higher potential payout than the normal line.
- Over/Under
- A market where you bet on whether a specific statistic (like total goals) will be over or under a number set by the bookmaker.
- Parlay
- A bet that links two or more selections; all must win for a payout, similar to an accumulator.
- Push
- A tie result in a market where the bet is refunded because the outcome exactly matched the line.
- Stake
- The amount of money you wager on a particular bet.
- Underdog
- The team or player expected to lose, often given higher odds to reflect lower probability of winning.
- Value Bet
- A bet where the odds offered are higher than the true probability of the outcome, indicating a positive expected value.