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📖 Betting Terminology

Understanding the basic terminology used in sports betting is crucial. Below are some fundamental terms that you should be familiar with:

Key Terms​

Odds​

  • Decimal Odds: Commonly used in Europe, these odds represent the total return for every $1 wagered, including the initial stake. For example, if the decimal odds are 2.50, a $1 bet would return $2.50.
  • American Odds: Used primarily in North America, these odds can be either positive or negative. Positive odds (e.g., +200) indicate potential profit on a $100 stake, while negative odds (e.g., -150) indicate how much you need to stake to win $100.
  • Fractional Odds: Often used in the UK, these odds are presented as fractions (e.g., 5/1), showing the potential profit if the bet succeeds relative to the stake.
  • Hong Kong Odds: The profit for every $1 staked, without the stake. Decimal 2.50 is 1.50 in Hong Kong odds.
  • Malay Odds: A number between -1 and 1. For favorites it is positive and shows the profit for every $1 staked; for underdogs it is negative and shows how much you stake to win $1. Decimal 1.50 is 0.50 and decimal 2.50 is -0.67.
  • Indonesian Odds: For underdogs, the profit for every $1 staked, like Hong Kong odds. For favorites, a negative number showing how much you stake to win $1. Decimal 1.50 is -2.00 and decimal 2.50 is 1.50.
  • Cents: The price of a contract that pays $1 if it wins, the way Kalshi and Polymarket quote it. Decimal 2.50 is 40¢. Cents include the sportsbook's margin, so they are not the same as the fair probability Bet Hero calculates.

Moneyline​

Also known as Match Winner, this betting format simply involves wagering on who will win the match or event outright.

Spread or Handicap (2-Way)​

Also referred to as Asian Handicap, this betting style levels the playing field by giving one team a virtual head start.

Examples:​

  • Asian Handicap 0.0: This is similar to the Draw No Bet option. If the match ends in a draw, your stake is refunded.
  • Asian Handicap +2.5 / -2.5: Suppose Team A has a handicap of -2.5 against Team B. For a bet on Team A to win, they must win by more than 2.5 goals (i.e., at least 3 goals difference). Conversely, a bet on Team B would win if they lose by less than 3 goals, draw, or win the match.
  • Asian Handicap +0.5 / -0.5: A bet on Team A with a -0.5 handicap means Team A must win the match for the bet to succeed. A bet on Team B with a +0.5 handicap means the bet wins if Team B either wins or draws.

3-Way Spread​

Also known as the European Handicap, this betting style allows bettors to wager on three possible outcomes: a home win, an away win, or a draw, incorporating a handicap.

Examples:​

  • European Handicap +1/-1: In a match between Team A and Team B:

    • Bet on Team A (-1): Team A must win by more than one goal. For example, if the final score is 3-1, Team A wins by two goals, and the bet is successful.
    • Bet on Team B (+1): Team B must win, or the match must end in a draw, for the bet to succeed. For instance, a 2-2 scoreline wins. A 3-2 win for Team A loses, because with the handicap it becomes a draw.
    • Bet on a Draw (-1): Team A must win by exactly one goal. For example, if the final score is 2-1 in favor of Team A, the result with the handicap applied is a draw.

  • European Handicap +2/-2: In a match between Team A and Team B:

    • Bet on Team A (-2): Team A must win by more than two goals. A score of 4-1 would see the bet win, while a 3-1 win would not be enough.
    • Bet on Team B (+2): Team B must win, draw, or lose by fewer than two goals. A 1-0 victory for Team A means Team B wins the bet.
    • Bet on a Draw (-2): Team A must win by exactly two goals. A 3-1 or 4-2 victory for Team A would make this bet a winner.

Player Props​

Short for Player Proposition Bets, these involve wagering on individual player performances within a game. Common examples include betting on the number of points a basketball player will score, the number of yards a quarterback will throw, or if a player will score a goal in a soccer match.

Parlay​

A Parlay or Accumulator Bet is a single bet that links together two or more individual wagers. To win a Parlay, all individual bets must be successful.

Glossary of Common Terms​

  • Stake: The amount of money wagered on a particular bet.
  • Payout: The total amount returned to a bettor if their wager is successful, including both the profit and the original stake.
  • Juice/Vig: The bookmaker's commission taken from bets, typically embedded in the odds.
  • Push: A situation where the bet neither wins nor loses, resulting in the return of the original stake.
  • Bankroll: The total amount of money a bettor allocates for betting.

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