Knowledge Base
Glossary
Plain-English definitions for the terminology used across Fan Strategy.
- Accumulator
- Accumulator is a UK term for a multi-selection bet where each winning selection rolls the stake onto the next, amplifying returns.
- Arbitrage
- Arbitrage exploits differing odds across bookmakers to guarantee a risk-free profit by covering all possible outcomes.
- Asian Handicap
- Asian Handicap eliminates the draw by giving one team a fractional or whole goal advantage, reducing possible outcomes to two.
- Back
- Back is to bet for an outcome to happen, the opposite of a lay.
- Bankroll
- Bankroll is the total amount of money you have set aside for betting.
- Bet Builder
- Bet Builder lets you combine different markets from a single match, like goals, cards, and corners, into one custom bet.
- Bet Slip
- Bet Slip is the online record that lists your selected bets, stake amount, and potential payout before you confirm the wager.
- Betting Exchange
- Betting Exchange is a platform where bettors can back and lay against each other, often with lower fees than traditional bookmakers.
- Cash Out
- Cash Out lets you settle a bet before the event ends, locking in a profit or limiting a loss based on current odds.
- Dutching
- Dutching spreads your stake across multiple selections in the same event to guarantee a profit regardless of which one wins.
- Edge
- Edge is the statistical advantage a bettor has over the bookmaker's odds, often derived from careful analysis.
- Hedge
- Hedge places a counter-bet to reduce risk or lock in a profit on an existing wager.
- In-Play Betting
- In-Play Betting allows you to place bets on a match while it is ongoing, with odds that update as the game unfolds.
- Juice
- Juice, also called vig, is the commission a bookmaker charges for taking a bet, built into the odds.
- Kelly Criterion
- Kelly Criterion is a formula that calculates the optimal stake size to maximize growth while minimizing the risk of ruin.
- Lay
- Lay is to bet against an outcome happening, as offered on betting exchanges where you act as the bookmaker.
- Moneyline
- Moneyline is a bet on which team will win a match, with odds expressed as a positive or negative number.
- Odds
- Odds indicate how much you can win relative to your stake, reflecting the implied probability of an outcome.
- Over/Under
- Over/Under is a bet on whether the total number of goals scored in a match will be more or less than a set figure.
- Parlay
- Parlay combines multiple selections into a single wager; all picks must win for the bet to pay out, increasing potential profit.
- Point Spread
- Point spread assigns a handicap to the favored team to level the betting field, often shown as a line like -1.5 goals.
- Responsible Gambling
- Responsible Gambling refers to practices and tools that help you stay in control of your betting activity and avoid harmful behavior.
- Stake
- Stake is the amount of money you risk on a bet.
- Unit
- Unit is a standardized bet size, often a percentage of your bankroll, used to manage risk across multiple wagers.
- Value Bet
- Value Bet occurs when the odds offered by a bookmaker are higher than the true probability of the outcome, giving an edge.