Encyclopaedia

The aim of this sports betting lexicon is to introduce you to the basic terms from the world of sports betting in a simple and, above all, easy-to-understand way. With the help of this knowledge, it should be much easier to keep an overview of the offers and overviews of different bookmakers. In addition to the bookmakers, the different types of sports betting should also be easier to understand.

Two-way or three-way bets:

In principle, this is simply a matter of betting with either two or three different outcomes. To put the whole thing directly in terms of sports in a basic way, you can say that football matches have three possible outcomes. Either team A wins, team B wins or there is a draw. For this reason, bets on the outcome of football matches are three-way bets.

In tennis, on the other hand, there is no draw, but only the possibility that player A wins or player B wins. Therefore, in tennis we are always dealing with two-way bets that can be placed on the result of a tennis match.

Here is an example with a freely chosen three-way bet:
Home win - odds: 1.60
Draw - odds: 4.30
Away win - odds: 6.10

Odds key: 1/(1/1.60 + ¼.30 + 1/6.10) = 97.9 per cent
Winning margin: 100 per cent - 97.9 per cent = 2.1 per cent

Five-out-of-seven bets:

This is a system bet, whereby a bet consists of seven individual events. Several or sometimes all betting offers can be used and played at the same time with one bookmaker. Seven individual events are selected and bet on. If only five of them are correct, you win your five-out-of-seven bet. As a rule, bets are always placed on 21 different betting lines. This means that the bet is multiplied by 21, of course always depending on the minimum stake. This system bet is a very good way to compensate for or hedge risks from risky and uncertain bets.

Arbitrage betting:

The main issue here is the different betting odds offered by different bookmakers and sports betting providers for one and the same event. You can take advantage of these differences. Especially for rather unimportant competitions, leagues and games, there are these differences in the betting odds of the bookmakers. This creates the opportunity for arbitrage bets.

However, it is important to note that the odds are often adjusted, which is why you have to be quick. In addition, there is a risk that the betting account will be limited or closed, as arbitrage betting is basically a "safe" way to bet. The last thing to know is that you need more than one account, of course, but several accounts with the different bookmakers, which have to be active online.

Asian Handicap Betting or AHC Betting:

These are bets on matches in which the two opponents are very far apart in terms of performance. This variant is often used for ball sports in particular. With the Asian handicap, one of the two opponents enters the match with a deficit, which is only fictitious, or with a lead, which is also fictitious. This opens up completely new betting opportunities. In AHC betting, a handicap is basically added to the real result or score on it.

A quick example on AHC betting:
AHC: -1 Real win, final score 2:0 for Real Madrid.
Since the Madrilenians started the game with one goal less due to the handicap, they had to win by at least two goals to win the bet. So actually quite simple, but due to the better betting odds quite reasonable.

Corner kick betting:

This is simply betting on corner kicks and their ratios in football matches. Bookmakers now offer these bets on all major football matches, but also on an increasing number of smaller ones. Basically, the most common bets on corner kicks are over/under bets. The respective bookmaker specifies a number of corners for the match; this can be 7.5, for example. The bettor now bets on more (over bet) or fewer (under bet) corner balls in this match than 7.5. Over / under bets are therefore also classic two-way bets.

There are also two other very popular corner bets; firstly, the first corner, i.e. which team will receive a corner kick first, and secondly, the most corners, i.e. which team will receive the most corner kicks. All these variants are usually offered for the whole match as well as for the halves individually.

Unit / Unit:

These are one or two terms that define the amount used as a stake on a bet. As a short example, 2/10 means that in this case two out of 10 units, which represent the maximum, are used in the current match. This would therefore be a rather risky game. Basically, each number also stands for a corresponding percentage value, which is based on the maximum or the total capital.

Penalty bets:

This is a classic bet that has been around in Germany for a long time. However, it is not about penalties, of which penalties is the abbreviation or colloquial word, but about eleven bets that are placed. If you get at least nine of your eleven bets right, you receive a prize. This is calculated from the capital invested and the profit of all the people in a betting community, also called Toto friends. It is therefore always a classic offline bet. However, online bookmakers also offer penalty bets in some cases. This is usually in the form of special promotions, where there are fixed odds and certain amounts or bonuses are paid out depending on the number of correct tips.

Result bets:

As the name suggests, this involves betting on the result of a match. The exact result of a match is required and only if it is predicted correctly do you win. Therefore, the odds for this type of bet are usually very high, as a tendency, as required for a three-way bet, is not sufficient. Not even the correct goal difference leads to a win, but only the exact result. This type of bet is often offered not only for the entire match, but also for the individual halves.

However, if you want to handle your money properly and well, you should keep your hands off such high-risk outcome bets. Although they are a lot of fun and can be played with low stakes from time to time, you will lose very often.

Handicap betting:

Here, a match starts for one of the two teams with a fictitious lead, i.e. a handicap for the other team. For classic football bets, this is one or two goals. Sounds like the Asian handicap bets already described, but there is a serious difference between Asia and Europe: European handicap bets usually come in many versions for each event. Therefore, there are different notional outcome templates, resulting in different betting odds. Asian handicap betting, however, is always about bringing both opponents to a mathematically equal level before kick-off, again creating excitement. However, handicap betting can also be found far away from football in almost all ball sports.

Head-to-head betting:

Here, two participants are extracted from a sporting event, i.e. considered individually. This can be illustrated well with Formula 1: Here, the only thing that is looked at is whether Lewis Hamilton or Sebastian Vettel will do better. The other drivers are completely irrelevant as far as this bet is concerned. But these bets now also exist in other sports, for example in numerous winter sports disciplines as well as horse racing, but also occasionally in football. So these are two-way bets that are becoming more and more widespread.

Combi bets:

Here, several bets are combined on one betting slip. The respective betting odds are multiplied, which sometimes results in very good betting odds. However, you only win if all the bets in the combination win, i.e. if the entire ticket comes up. With the help of the combination bet, you can get odds from several not too risky bets that are normally only available for extremely risky bets. However, one mistake leads directly to a loss, even if everything else is correct. Certain systems can be used to hedge combination bets.

A very brief example of combination bets:

50 euros following odds: 1.4 and 1.9 and 2.5

this results in: 50 x 1.4 x 1.9 x 2.5 = 258 euros gross profit (total odds: 5.16)

Lay bets:

Here you simply bet against the outcome of the game. If you "lay" odds of 2.50 on FC Barcelona, you are hoping for a defeat of FC Barcelona. The terms back and lay bets originally come from the betting exchanges.

Limitation:

This is a fixed maximum amount that may be wagered or won per bet. Of course, this is set by the bookmaker or provider, who makes this limit dependent on the success of individual bettors. So if you win a lot or very much, the risk increases that you will receive a low limit.

Money Management:

This refers to the correct management of one's total capital, which can be used for betting. Normally, the term money management is used in connection with a certain strategy that one applies. This strategy should help you to allocate and use your money and prescribe and determine certain purposes for which it is to be used. Self-set limits or maximum stakes are also determined here.

Some examples of money management strategies:
In addition to flat stakes, there is also the Kelly strategy and dynamic stakes. There is already a more detailed article on this very topic, which you can find here on our site.

Actually, everyone who bets successfully uses very clear rules and systems as well as strategies, which are largely summarised under money management. The general starting point is basically always the so-called bankroll, i.e. the respective starting capital. From this, the maximum stake, which should normally never be greater than five percent, as well as other rules are calculated, calculated and finally determined.

"Defensive money management" describes another strategy that tries to make regular profits with small stakes and thus win more and more over time.

Good bookkeeping and a constant overview are also not to be neglected in good money management. In addition to winnings and losses, the stakes and betting odds are also recorded precisely so that they can be analysed in retrospect.

Odds key:

This is the percentage paid out by the bookmaker after a bet has been placed. With most bookmakers, this is between 88 and 98 percent. This means that from 100 cents, 88 to 98 cents are paid out. This is a kind of platform fee or betting fee that the bookmaker collects for himself as earnings. This key can usually be calculated well from two-way bets or three-way bets.

Rollover:

This is basically about the turnover conditions, which is what the term rollover also means in German. Turnover conditions always apply to bonus credits at bookmakers. This means bonuses from welcome campaigns or special credit won from other bonus campaigns of a provider. Often, up to 100 euros are given to new customers as a gift, but these are subject to the aforementioned turnover requirements. This means that this bonus must be wagered once or several times before it can be paid out. The respective number of bets is then called rollover. This rollover can also be linked to specific odds. In addition, time limits can be set that must be observed and adhered to. If these conditions are not met, the credit will be cancelled.

Spread betting:

This is the American counterpart to handicap betting from Asia and Europe. Because in America, you play with a spread that a team needs to win a game. So it is again about a fictitious lead with which a team starts a game. If you bet on a spread of +11.5 on Golden State, you think that Golden State needs 11.5 points more to win the game.

Surebet:

This is the term used to describe "sure" bets, through different odds with different bookmakers. However, not by a large difference in performance or quality, which some also call surebet. The betting odds of the different bookmakers must be opposed to each other. These surebets are incredibly rare, which is why certain software can help in finding them. In addition, it is necessary to act quickly, as these odds are often matched.

A quick example on surebets:
In a two-way bet, two bookmakers estimate athletes A and B differently. Therefore, you will find odds of more than 2.00 for each sportsman on at least one platform. Thus, the bettor wins in any case, because no matter what he bets on, he doubles his money with his winning ticket and thus recoups the loss of the other ticket.

System betting:

Here, combination bets are used to hedge sports bets. Several sporting events are combined on a single betting slip, and the system can be called either "two-out-of-four", "three-out-of-five" or "four-out-of-seven". The first number indicates the number of events that must be correctly tipped in order to win, while the second number indicates the total number of tips to be placed. The different systems result in different betting series and thus also different betting odds and total stakes. With system betting, the choice of events and individual bets is entirely up to you.

There are also some technical terms for special bets in which several systems are used or combined at once:

  • Yankee bet: Four games and eleven lines
Systems: 2 out of 4 (6), 3 out of 4 (4) and 4 out of 4 (1)
  • Trixie Bet: Three games and four rows
Systems: 2 out of 3 (3) and 3 out of 3 (1)
  • Patent bet: Extension of the Trixie bet by the respective single bets
  • Goliath bet: Eight games and 247 betting lines
Systems: 2 out of 8 to 8 out of 8
  • Super Goliath bet: Nine games and 502 betting lines
Systems: 2 out of 9 to 9 out of 9
  • Canadian bet: Five games and 25 betting lines
Systems: 2 out of 5 to 5 out of 5
  • Heinz bet: six games and 57 lines
Systems: without single bets

Totalisator betting:

This is mainly about a good cause besides the betting itself. This type of betting is used in horse races. Part of the proceeds from the bets is paid into a kind of fund, the totalisator, of the national racing associations, which in turn helps the jockeys, breeders and riding stables. With the help of totalisator betting, you can therefore combine betting with a good and charitable cause.

Over / under betting:

Here, a value is always set that has to be exceeded or undercut. A classic example is the number of goals or corner kicks in a football match. For example, the bookmaker sets 2.5 goals in a match and the bettor has the option of betting less, i.e. an underbet, or more, i.e. an overbet.

Valuebet:

These are the best odds in sports betting, which come about when a bookmaker has valued an odds too high. In this case, there is a gap between the actual probability of occurrence of an outcome or outcome and that which the bookmaker has set as the odds. A sports betting expert recognises this gap and uses it for less risky bets or higher profits. In order to recognise this, however, a certain amount of knowledge as well as a strategy is necessary in addition to experience.

Betting exchange:

This is the platform on which the odds are formed. Here, an odds is proposed by one party and accepted or rejected by another. It is very similar to a stock exchange. The betting exchange thus acts as an intermediary. However, the offers of bookmakers are rarely real betting exchanges.

Calculation of betting odds:

Betting odds of bookmakers are basically calculated relatively simply, for which a short calculation now follows. Bookmakers and online providers calculate betting odds in a similar way. This will now be explained using the example of a football match between FC Barcelona and Real Madrid.

First, the probability of an outcome is determined:

Victory FC Bayern 55 per cent

Draw 25 per cent

Victory Borussia Dortmund 20 per cent

The fair odds are then calculated from this:

FC Bayern win: 1.81 (= 1 : 0.55)

Draw: 4.00 (= 1 : 0.25)

Victory Borussia Dortmund: 5.00 (= 1 : 0.20)

In this case, the provider would not make a profit, which is why he includes a bookmaker's margin. Therefore, with a very good odds ratio of 93 percent, this calculation results:

Bayern win: 1.81 x 0.93 = 1.68

Draw: 4 x 0.93 = 3.72

Dortmund win: 5.00 x 0.93 = 4.65

Yield:

This is the return from one or more bets, i.e. whether a profit or loss is made. This can be used to calculate the long-term return from sports betting, which then looks like this:

((total profit / loss) / total stake) * 100 = Yield in per cent.

If the result, i.e. the yield, is positive, you have won more than you have lost. However, if the result is negative, you unfortunately have to book a loss.
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