Football Betting Terminology Explained: A Glossary for New Bettors
People who are newcomers to betting must familiarize themselves with the specific terminology used on betting websites. Knowing betting terminology allows to familiarize with the whole process, which automatically improves the chances of success and enables effective navigation in the world of sports betting.
Newbie bettors can be a little lost seeing a large amount of complicated terms and rules. We got that!
In this article, we delve into the world of sports betting, starting with the fundamentals. We’ll explain basic betting terms that every enthusiast should know, making it easier for beginners to navigate this exciting realm. Additionally, we’ll explore the various betting bonuses available to bettors. These include attractive welcome offers for new users, free bets that allow you to place wagers without risk, and promo codes that unlock special deals. A highlight is the exploration of popular promotional offers, such as promo code for Bet9ja, a well-known betting platform. Whether you’re a seasoned bettor or just starting out, this guide is designed to enhance your betting experience.
In short, odds represent the probability of a particular result. They are developed by stakeholders. There are a few types of betting odds. The three most popular ones are fractional, decimal, and American.
Fractional odds – This is the British type of odds. They are written by a slash (/) or hyphen (-). That notation represents the multiplier for potential winnings in comparison to the specified amount. For example: 8/1 means, that you will win €8 for every €1 bet.
Decimal odds – This is the European type of odds. Besides the UK, it is the most popular format of odds in Europe. As the name suggests, they are written in decimals, for example, 1.50, 2.00, etc. The higher the odds are, the smaller probability of occurring a particular event. If you bet €10 on a match, which odds are 6.00, your return will be €60, so you will earn €50.
American odds – This is the type of odds, most popular in the United States. It is represented by plus (+) and minus (-) symbols. Odds for favorites are indicated by the former symbol, which means, that if the odds are +150, you will win €150 if you bet €100. The latter symbol means, that if the odds are -150, you will win €100, if you bet €150.
Stake – Amount of money, that the bettor decides to bet on a particular result or an occurrence of an event within a bet. It is the amount the bettor risks in the case of losing, and of which the potential winnings are calculated if the bet is successful. The stake can vary by bettor preference and the regulations made by stakeholders.
Payout – Amount of money the bettor collects for a successful bet. A stakeholder pays out after counting the stake made by a bettor on a particular event. The payout is calculated as the product of a stake placed by a bettor and the odds of an event.
Promo Codes – Type of promotion offered by a stakeholder for new players, who will create an account on their platform. Promo codes allow players to receive higher welcome bonuses and also to have higher cashback in risk-free bets or to place a free bet.
Free Bets – Sports betting bonus, which allows the player to place a bet for a specified amount, without having to use his own deposit funds. Usually, the bet must be placed for a small amount, which is set on the promotion.
Cashback – A refund from the stakeholder of a specified amount to the deposit account, for a lost bet.
Welcome Offer – A promo made by stakeholders for the new accounts. They may include Promo codes, cashbacks and free bets.
Accumulator – Type of bet for at least two independent events in a match. It can be won, only if all events on the betting slip are won or cancelled. Winnings are calculated as the product of the stake and odds of single events.
Handicap – Type of bet, when we are adding or subtracting extra value from the final result. For example, goals or assists.
Team A (-1.5) 4:4 2.5:4 LOST
Team A (-1.5) 5:2 3.5: 2 WON
Team B (1.5) 4:1 4:2.5 LOST
Team B (1.5) 4:3 4:4.5 WON
Odds will be higher for bets placed that way. The stake for victory of a favorable team will be higher after handicap, by adding goals for the worse team.
Over/Under – With these types of bets, a bettor can indicate how many times a particular occurrence will take place during a match. A bettor must determine if it will occur more times (over) or less (under). This type of bets does not take draws into account. For example, if you are betting over 2.5 in a football match, that means you are betting, that it will be more than 2 goals. If you are betting under 2.5, that means you are betting for less than 3 goals. Under/Over best can also involve a number of corners, penalty kicks, fouls, free kicks, etc.
In conclusion, understanding and familiarizing yourself with betting terminology allows you to make better, more informed betting decisions, but also to interpret types of bets correctly, understand conditions and offers, analyze statistics and chances involved with your bets, in order to manage the risk more successfully. Remember, to always seek answers and read sports betting-related issues carefully, and to always play responsibly.