Sports betting is a multifaceted activity with a vast collection of terms spanning many categories. Due to the ever-evolving nature of the industry, we understand that getting around betting lingos could be pretty overwhelming. To help new and old bettors grasp the basics, we have compiled some standard sports betting terminologies. From Acca bets to GamCare, you can check this betting terms guide to get all the information. However, in this article, we’ll provide the basic ones you should know.
Glossary Of Basic Sports Betting Terms In The UK
To make this list more easily accessible, we have listed out the terms alphabetically. We’ve also provided explanations for each one to help you gain a simple understanding. Alright then, let’s get started!
1X2 Bets
1X2, also, known as three-ways, is a sports betting market with simple and straight-forward betting options. They are found in sports where the outcome could end in a draw. ‘1’ refers to a home win, ‘2’ is an away win, while ‘X’ marks the spot for a possible draw.
Acca Bets
Acca bets (accumulator bets) are a type of bet that involves curating multiple bet selections into one bet slip. It is a high-risk bet because each of the selections must be won by the bettor to earn a win. An accumulator bet is also referred to as a parlay bet.
Ante-post
Ante-post bets are generally associated with horse and greyhound racing. Just as the name implies (Ante, meaning before), punters can place wagers on a racecourse event before the betting markets open. Ante-post bets are sometimes called ‘futures’, but unlike outright winner markets, there are different rules.
Asian Handicap
Asian handicaps are two-way bets that provide no draw option for bettors. It more or less levels the playing field in games featuring two mismatched sides. The team perceived as stronger must win by more points for bettors to win an Asian handicap.
Back
This term is used interchangeably with ‘bets’ or ‘wagers’. It means that the punter has placed a wager on the desired outcome of a game. Some common uses of the word include to back a winner, to back a loser, etc.
Bankroll
Disciplined punters are known to use this word often. It refers to real money that has been set aside for sports betting. Since the bankroll reduces with each bet, bettors need to manage it properly by adhering to responsible gambling practices.
Bet Slip
A bet slip is a receipt that stores and features details of your wagers at any particular time. Here you will see your selected betting market, the odds, your stake, and potential returns. At online sportsbooks, this slip will typically be found under your user profile.
Bookmaker/Bookie
A bookmaker (or bookie for short) is an operator with a gambling licence from a relevant authority. Online sportsbooks in the UK are typically run by companies or individuals with licensing from the UKGC. Bookmakers without this licence are deemed illegal and must be avoided by bettors for safety reasons.
Cashback
This is a term that bettors will come across quite often during sportsbook promotions, special events, or bonus offers. The process involves getting back all or part of your real money bets if a wager is lost. Cashbacks require bettors to make wagers with real money from their deposited funds.
Live Betting & Live Streaming
Live betting and live streaming are a feature of some online sportsbooks that bring more excitement to gambling. Punters can either place wagers on a game as it is being played or simply watch the event as it unfolds via a live stream.
Odds
This is one of the most popular terms you will come across in the world of online gambling. It is simply a reflection of the returns offered by a bookmaker relative to wagers on any particular event. It is also known as price.
Final Thoughts
There’s no such thing as having too much information when it comes to online sports betting. The terminologies we’ve provided here are common, and their explanations are simple enough. Bettors should be aware of these terms to better understand what online betting is all about.
