Knowledge Base
Glossary
Plain-English definitions for the terminology used across Fan Strategy.
- Accumulator
- A single bet that links two or more selections, and all must win for the bet to pay out, multiplying the odds together.
- Asian Handicap
- A handicap given to a team to level the match, expressed in fractions or whole numbers, reducing the possibility of a draw.
- Bankroll Management
- The practice of setting a budget for betting and only risking a small percentage of that budget on each wager.
- Bet Builder
- A tool that lets you combine multiple markets from a single match into one custom wager with combined odds.
- Cash Out
- A feature that lets you settle a bet before the event ends, locking in a profit or limiting a loss based on current odds.
- Decimal Odds
- A way to express odds as a single number that includes the stake; the total return is stake multiplied by the decimal.
- Double Chance
- A bet that covers two of the three possible outcomes (win/draw, draw/away, or win/away) in a match.
- Edge
- An advantage a bettor believes they have over the bookmaker’s odds due to superior information or analysis.
- First Goalscorer
- A market where you predict which player will score the first goal in a match.
- Free Bet
- A promotional credit given by a sportsbook that can be used to place a bet, usually with any winnings returned excluding the stake.
- Full-Time Result
- A simple market where you bet on the final outcome of a match: home win, draw, or away win.
- Goal Line
- A line set by the bookmaker for total goals in a match; you bet over or under that line.
- Handicapping
- The process of analyzing teams and matchups to predict outcomes and identify value bets.
- In-Play Betting
- Placing wagers on a match while it is already in progress, with odds that update as the game unfolds.
- Juice
- The commission or fee a bookmaker adds to the odds, often seen as the extra vig charged on each bet.
- Kelly Criterion
- A mathematical formula that calculates the optimal percentage of your bankroll to risk on a bet based on perceived edge.
- Live Odds
- Odds that change in real time during a match, reflecting the current state of play and market activity.
- Margin
- The bookmaker’s built-in profit margin, usually expressed as a percentage, embedded in the odds they offer.
- Over/Under
- A bet on whether the total number of goals (or points) in a match will be above or below a specified line.
- Point Spread
- A handicap applied to a team to create a more balanced betting field, often used in North American sports.
- Push
- A tie result in a bet where the wager is refunded because the outcome exactly matches the line.
- Spread Betting
- A form of betting where the payout depends on the accuracy of the prediction relative to a point spread or total.
- Stake
- The amount of money you place on a bet; the sum you risk in hopes of a return.
- Value Bet
- A bet where the odds offered are higher than the true probability of the outcome, giving an expected positive return.
- Wagering Requirement
- A condition that you must bet a certain multiple of a bonus or free bet before you can withdraw any winnings.