Betting Terminology List – You Should Follow This Before Online Betting
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Here is a glossary of essential betting terms for easy reference to any player to get an edge during playoffs:
- Accumulator: The accumulator bets involve combinations of four and even more number of single bets grouped together. It offers the bettors longer odds along with bigger winnings and greater chances of potential wins.
- Against the spread: It is a type of bet where instead of backing any winner, one can back a selection for covering the spread.
- Ante post: If a person is willing to gain longer odds in a certain market, he can place the bet in advance, much before the actual happening of the event. The bets can be placed months or years before an event and are thus called ante post bets.
- Arbitrage betting: It is the method through which the gamblers aim to bring profits through placing bets on all the possible outcomes of an event. Players can take advantage of the variation of the odds provided by various bookmakers.
- Bar: In some bets, for instance, horse racing, many of the horses are considered to be the distant outsiders, and hence their odds are not quoted. Such bets beyond which the runners are not included are termed as odds.
- Bet: It refers to the amount of money a player lays on any successful prediction of the outcomes of an event.
- Betting exchange: It is a kind of forum through which the bettors bet against each other directly, unlike the bookmakers.
- Bookmakers: A bookmaker refers to an organization which provides odds at the outcomes of any event.
- Closing line: It is the point after which the odds in any particular market can be set. The odds are adjusted depending on the wagers that are received on any side of the market.
- Double Bet: It is a bet when two single selections are placed as a single bet. The odds are combined to provide the gamblers better opportunities for greater wins.
- Each way bet: Each way bets are available in the events which feature the winners along with the other competitors.
- Fixed odds betting: are those bets where securing any bet with a fixed number of odds, it is guaranteed that the potential returns remain unchanged regardless of the fluctuations in the market after the placing off the bet.
- In-play betting: It is a form of bet which has gained immense popularity due to the growing craze of online betting in India. Placing of bets on different outcomes before the event even starts is the uniqueness of in-play betting.
- Martingale: The betting system where the player can double the stake placed for a new bet.
- Outright bet: These are wagers that are placed on full competitions instead of single games.
- Place bets: Place bets involve backing selections from the different outcome scenarios available in any particular place or within a certain range of places of an event.
- Underdog: The less popular competitors or teams of an event in the eyes of a bookmaker are termed as underdogs.