Knowledge Base
Glossary
Plain-English definitions for the terminology used across Fan Strategy.
- American Odds
- Odds expressed as a positive or negative number; positive shows profit on a $100 bet, negative shows amount needed to win $100.
- Arbitrage
- Exploiting differences in odds across bookmakers to place bets on all possible outcomes and guarantee a risk-free profit.
- Asian Handicap
- A spread betting system that gives one team a hypothetical advantage or disadvantage to balance the match, allowing for only two possible outcomes.
- Bankroll Management
- The practice of setting aside a specific amount of money for betting and deciding how much to stake on each wager to avoid running out of funds.
- Bet Builder
- A feature that lets you combine multiple outcomes from the same match into one customized wager.
- Bonus Wagering Requirement
- The total amount you must bet before you can withdraw bonus funds or any winnings earned from a bonus.
- Bookmaker
- A company or individual that sets odds and accepts bets on sporting events.
- Cash Out
- An option to settle your bet before the event ends, either locking in a profit or limiting a loss based on current odds.
- Closing Line
- The final odds available just before an event starts, considered a benchmark for the accuracy of a bet.
- Decimal Odds
- A way of expressing odds as a single number that includes your stake; the total return is the odds multiplied by the stake.
- Fractional Odds
- Odds shown as a fraction; the numerator shows potential profit, the denominator shows the stake needed.
- Free Bet
- A promotional credit that lets you place a bet without using your own money; any winnings are usually returned without the stake.
- Hedging
- Placing a bet on the opposite outcome to an existing bet to guarantee a profit or reduce potential loss.
- In-Play Betting
- Placing bets on a match while it is already in progress, with odds that update as the game unfolds.
- Margin
- The built-in profit margin a bookmaker includes in the odds, often called the "juice" or "vig".
- Market Movement
- The change in odds or line values over time, reflecting new information or betting volume.
- Moneyline
- A bet on which team will win the match; the odds show how much you can win or need to stake.
- Odds Boost
- A promotion that increases the odds on a selected market, offering a higher potential payout than the regular odds.
- Over/Under
- A bet predicting whether the total number of goals in a match will be higher or lower than a set number.
- Parlay
- A single bet that combines two or more selections; all must win for the Parlay to pay out.
- Public Money
- The portion of bets placed by casual bettors, often used to gauge market sentiment and potential line movement.
- Stake
- The amount of money you put on a bet.
- Steam
- A rapid shift in odds across multiple books, usually caused by heavy betting action on one side.
- Value Bet
- A bet where the odds offered are higher than the true probability of the outcome, giving an expected positive return over time.