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Accumulator:
This is a multiple bet where the punter bets on a series of outcomes, all of which have to be correct for the return to be paid. For example, say the punter placed a £10 accumulator on Arsenal to win the Premiership, AC Milan to win the Serie A and Kaiserslautern to win the German Bundesliga. 

All three legs would have to win for a return to be paid. The easy way to work out the return for an accumulator is to multiply together the dividends. For example, Arsenal £3.50, AC Milan £5.50 and Kaiserslautern £1.90 multiplied together gives a return of £36.58 for each pound invested. 

Ante Post
A bet that is placed on a future event. 
Taking an Ante Post price means you will lose your money 
if your selection does not take part in the event. 

Asian Handicap:
Asian Handicap Betting removes the chances of a draw and is the same as the USA's bet on the spread. Sides are awarded anywhere between a fraction of a goal start to 3 goals dependent on how good or bad they are. 

Backed:
When a bookmaker takes a lot of money on one particular side, it is said that this team has been heavily backed. It is where the punter has put his money. 

Bookmaker:
Someone who accepts a bet. Also known as bookie and a dirty rotten swine. 

Buy Price:
The higher figure quoted by an Index bookmaker. 

Bar Price:
Refers to the odds of the selections at the last quoted price and bigger. For example, in a large field, the Serie A outright markets may read Juventus 3/1, AC Milan 7/2, Inter Milan 4/1, Lazio 5/1, 8/1 Bar - meaning every other side is quoted at 8/1 or bigger. 

Banker:
A punters strong selection, his sure thing. 

Bottle: 2-1 

Burlington Bertie: 100-30 

Carpet: 3-1 

Controlled Risk:
A form of bet in the index market that automatically controls the amount of money a gambler can lose. 

 
 

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Correct score :
A wager that involves correctly predicting the final score of a game. 

Credit Bet:
A bet accepted by a bookmaker where no cash has been deposited. 

Doubles:
A bet on two events. Both of which must be successful for the punter to win. It is the lowest type of accumulator. 

Double Carpet: 33-1 

Dividend:
The return for a single winning unit usually on the tote but bookmakers also offer dividend prices. 

Drift:
When the price of one selection moves out because the bookmaker has seen little action on it. 

Debit Bet:
No cash is exchanged in this debit bet but the bookmaker has the right to debit the punter's bank account. 

Each Way:
This is a common bet that allows the punter to place a stake of equal amounts on his selection either winning an event or being placed, usually in the top three or four dependent on the size of the field. The price for the placed aspect of the bet is usually 1/4 or 1/5 the odds for an outright win. 

Favourite:
The team or individual the bookmakers rate as most likely to win the event. 

First Goalscorer:
A bet placed on a player to score the first goal in a game. 

Forecast:
A horse racing bet that allows the punter to predict the order of the first two horses (or greyhounds) for a greater returning dividend. 

Field:
Some bookmakers may well group all the outsiders in a competition under the banner headline of 'field' and put it head to head with the favourite. This is known as favourite vs the field betting and is common in horse and golf betting. 

Goliath:
A goliath is a multiple consisting of 247 bets involving 8 selections in different events. The bet breakdown is 28 doubles, 56 trebles, 70x4-folds, 56x5-folds, 28x6-folds, 8x7-folds and one 8-fold. 

Heinz:
a Heinz is a multiple consisting of 57 bets involving 6 selections in different events. The bet breakdown is 15 doubles, 20 trebles, 15x4-folds, 6x5-folds and one 6-fold. 

Joint Favourites:
When a bookmaker cannot split two teams for favouritism - for example, Arsenal and Manchester United may both be joint favourites at 6/4 to win the English Premiership. 

Jolly:
The bookmakers term for a favourite. 

Lay:
When a bookmaker accepts a bet - they will say they have laid Chelsea if they have taken a bet on them. 

Lengthen:
When a bookmaker sees that no-one is backing a particular side, he may choose to lengthen the odds available. 

Lines:
Handicaps, point-spreads and odds offered to the punter. 

Nap: A newspaper correspondents best bet of the day. [Napoleon]

Number Spread:
An index spread based on the number of runs, goals and points scored in an event. 

Odds Compiler:
The person working for the bookmaker who sets the odds following research and his own feelings. 

Odds-on:
Refers to a price where you have to stake more than the amount you expect to make as profit. 

Odds-against:
When the amount you win is more than your stake. 

Outsider:
The opposite to favourite. 

Off the Board:
A term used to show the bookmaker is no longer accepting bets on an event. 

Percentages:
Bookmakers set their odds according to percentages, the lower the percentage, the better deal the punter is getting. If the bookies were not aiming to make a profit, they would operate at 100% but because they want to make money from bookmaking they typically operate at 110% with their prices.

For example, in a two horse race of equal ability, both should be priced at even money (£2.00 = 50%). This means the book is operating at 100% - i.e two horses at £2.00 = 50% x 2 = 100.

However, because the bookmaker wants to make money, he will offer 4/5 (£1.80) for either horse to win. As a percentage, £1.80 stands at 55.5% meaning the book is 111% and assuming the bookmaker lays both sides evenly, he should make an eleven per cent profit. 

Punter:
The term used for someone who has a bet. 

Pointspread:
The start that the favourite gives to the underdog. 

Singles:
The simplest type of bet to have. This could be Spurs to beat Arsenal in one particular match. 

Steamer: A horse backed significantly on the morning of the race, causing its odds to shorten markedly. 

Spread Betting:
Not to be confused with spreads. A volatile type of betting that could see the punter reap huge returns of equally large losses. 

Selling Price:
The lower figure quoted by an Index bookmaker. 

Spread:
The difference between the higher and lower figures quoted by an Index bookmaker. 

Supremacy:
Spreads based upon the margin of victory between teams of individuals. 
Tic-Tac: The sign language in which bookmakers communicate with each other on the course. 

True Odds:
Your own analysis of what the odds should be in a particular event. 

Trebles:
A bet where three selections are chosen and all three events must win for the punter to collect his return. 

Two and Three Balls Betting:
A golfing bet that involves predicting which player from either a group of two or three will shoot the lowest score over 18 holes. 

Value:
Signifies to a punter that the bookmaker is offering better than his true odds. 

Volatility:
Term used to express the range of possible results in a particular Index bet. 

Yankee:
The term used for a bet that consists of four selections, combining them into six doubles, four trebles and one fourfold - i.e. eleven bets. 

72 Hole match bets :
A special wager, where the bookmaker will match up two golfers of similar ability, with the winner being the player who shoots the lowest score over the tournaments 4 rounds. 
 

 

 
 

Recommended Bookmakers

 

BET365 

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