Betting Dictionary

You may notice that there are many important terms and phrases relating to the football betting world. Of course, these aren’t words that you will have come across without having participated in sports betting before. To add to this, there are multiple different bets that you can place, and these all have a different meaning, as well as a different requirement for winning them. Reading through this page will allow you to learn about some of the most common phrases you’ll come across.

So, to find out what backing and laying mean, what cashback and moneyback mean or what arbitrage and equivalent are explained as, this is the right place to be.

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Arbitrage Betting

A betting method where a bettor places a bet on every possible outcome with different bookies. Arbitrage betting,  is taking advantage of the variation in odds offered by different bookmakers, and calculating an appropriate stake level which ensures that any losses are covered by winnings in every other possible outcome.

Cashout

Cash out allows you to get money back on your bet before the event you are betting on is over. The amount of money you get back is determined at the time of cashing out and will depend upon the current likelihood of the bet winning – so it could be greater or less than the initial stake Correct Score - A type of bet in which you need to precisely predict the score of the event.

Closing Lines

Final betting line offered by a sportsbook before an event begins. In not so shocking news, this is the direct opposite of the opening line, which is the first line that sportsbooks make available to the betting public. There isn’t necessary a relationship between the two, so there is no proven method to predict how the closing line will differ from the opening line.

Fractional Odds

The standard way of writing odds in the UK. Fractional odds allow you to calculate your potential profit not including your stake. So for example if you stake £1 at 10/1 you will win £10 (remember that’s your profit, you will receive your pound back too!). If you stake £2 at 7/2 then you will win £7 and get your £2 stake back.   

Spread betting

Spread betting rewards the accuracy of your prediction, the closer the result to your predicted outcome the more the pay off. This is different to fixed odds betting where you know what the payout will be when you place the wager Generally fixed-odds online bookmakers do not offer spread betting on sport and you may need to sign up with specific spread betting sports sites for this purpose. 

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