Sports Betting Terminology

 

Sports betting really can be a confusing hobby to get into, there are lots of phrases and they can be alien at first. To help new players understand, here is a small glossary to help them out.

For all you people who are new to sports betting , here is a little informative guide about the popular terms.

Bankroll
The amount of money you have set aside for gambling.
Favourite
The most likely player, team or horse to win.
Edge
If he has an ‘edge’ then that is the same as an advantage.
Exotic Bet
Any form of bet other than parlay or straight.
Exposure.
The amount the house stands to lose on a game.
Form.
The expected performance or the teams ‘form’. If a team is on good ‘form’ they are performing well.
Hedge Bet.
Betting against your primary bet. i.e. a bet that your team will win, as well as a bet they will lose in order to reduce risk.
Hot Tip.
Very valuable. If you get one, let us know!
Overlay
When the odds are in your favour, not the bookies
Parlay = a Bet which is placed with two or more teams, requiring all of them to win for the bet to be a success.
Player
YOU!
Round Robin
A number of parlays, i.e. a three team RR is basically one three team parlay, and three two team parlays.
Scalping
Trying to profit from the differences in odds from bookmaker to bookmaker, making money by betting the game from multiple bookies.
Straight Bet
A bet just on one single team.
If you find this useful please feel free to make a comment, and always, if you have any questions, please let us know and we will do our best to try and help you out.