One of the most commonly invoked betting rules, dealing with deductions from winning bets in the event of any withdrawn runner from a race. In sports betting, this can apply to both the odds and the points spread for a selected game or event. A betting exchange, popularised by Betfair is a place where you can bet against the outcome of another player. The exchange then acts like a broker between the two punters, and the person who wins get both stakes.


Even Money – A bet without “juice” or “vig” associated with it (i.e. bet $100 to win $100). Chalk – The favored team or athlete, also known as the favorite. Tout-A person who sells or gives away his betting picks. Parlay-Combining two or more different Total and/or Point Spread bets. Bookie-A person who accepts bets illegally either over the phone or through a website and charges vig.

So to kick off our football betting guide, we’re going to look at the difference between a bookmaker and a betting exchange plus the benefits of each platform when betting on football. However, those new to the betting scene are sometimes unsure about different football betting terms, how betting on football works and most importantly how to place winning bets. Graded stakes horse racing results & video race replays. Watching race replays is an invaluable handicapping tool for horse betting.

Profit Boost

The Grand National is one of the most famous horse races in the world, alongside the Kentucky Derby and the Royal Ascot. The race takes place annually at Aintree Racecourse in Merseyside, England. We could have included a huge list of terms that are associated directly with the types of bets that can be made across a range of all sports. Again with the evolution of technology, credit and electronic money transfers, this is another bookmaker slang term that is inevitably on its way out. The opposite of the Jolly, the Rag is the complete outsider in the betting market. Chalk is sometimes used, and someone who only ever bets on the favourite of a race is a chalk player.

A rather elegant term Bet Your Skins On The Match Ground Zero Vs Lilgun to describe a horse which is yet to taste victory in a race. Bettors often include a banker in a multiple or combination bet to strengthen their hand. This term refers to the act of placing wagers simultaneously at separate meetings.

Even Money is a bet that returns as much profit as the initial wager was. For example, a bet of $100 with a $200 return ($100 profit). A bet placed on the exact score of a match or event at full or part time. Also referred to as market-setting sportsbooks, sharp sportsbooks have the highest betting limits and therefore attract professional bettors. Because these books accept large wagers, they are also the most respected references for opening, current and closing lines.

Also referred to as the “opener,” this is the first line a sportsbook posts for a specific event. Different sports books may have different opening lines. In the olden days, sports books would often hang their own lines. Now days, most Opening Lines are established offshore by the internet-based sports books. Some Nevada sports books say they establish their own lines, but I doubt that is really true.

As opposed to a NAP which is tightly connected to horse racing, a banker is more closely related to football bets, and one selection within an accumulator bet. Point Spread odds are when each outcome has a + or a – handicap applied to it. On a ‘line’ of 3.5, one team will have 3.5 points added to their score, one team will have 3.5 points subtracted from their score. The winner of the Point Spread is the team who ‘covers’ the Spread based on the line and the final score. Betting limits are the largest wagers sportsbooks will take from its clientele.

A ‘Win/Place’ or ‘Each Way’ bet refers to a bet where the chosen selection must either Win or else Place within the payout terms. The bet is divided in two parts (the ‘Win’ part and the ‘Place’ part) of an equal stake or wager. Sports books will often “move on air” when adjusting a line to coincide with what other sportsbooks are offering. Public sports books cater to recreational bettors and will often establish lower betting limits than sharp sports books. These sportsbooks are quick to limit or flat-out refuse to accept action from winning bettors. Betting syndicates will often combine their resources to bet sports futures, then hedge against those wagers as seasons or tournaments wind down.

Outright Bet

When the contest ends with no winner or loser for betting purposes and stakes are refunded. System of ratings based on historical data which is used by bettors for predictive purposes. The measure of perceived difference in the abilities of participants in a given event as illustrated in the Handicap/Spread market.