Betting Terms Explained

Find every offshore sports betting term explained clearly and simply to make wagering life easier. Betting definitions can differ from country to country, so we have taken the most popular and listed them below:



A wager that is placed on multiple sporting contests. In order for the accumulator to pay out, all conditions must be met. If one of the conditions is missed, then the entire bet is forfeited in favor of the sportsbook. This type of wager is also known as parlay.


A common name for wager of any kind.

Against the Spread

A type of wager which will depend on the point spread. Any points that are left are granted to a particular team in order to complete the bet.

Ante Post

The “Ante Post” is placed ahead of a game. This type of bet is also known as a “future” and it’s the most common type of wager played.


A type of a value betting opportunity where you can make a wager on either outcome of an event and still turn a profit.



The “Banker” bet means that the wager is almost certainly a win for the person making the bet.


The total amount that a player has on their hands and can wager with. Bankrolls are kept by the sportsbooks and can be withdrawn at the request of customers.

Betting Exchange

The betting exchange was introduced in the United Kingdom with the arrival of Betfair. These betting venues allow bettors to play against each other rather than try to beat the sportsbook. Betting exchanges always command a small fee on any wager, and this is how they generate profit.


The standard term for a person who places wagers on the outcome of sports. Another commonly acceptable term is “punter,” but it’s most commonly used in the United Kingdom, Australia and Canada.

Bookie or Bookmaker

The term for a “sportsbook” outside the United States.


A bet that is worth $100, regardless of the type of wager.


A bullseye is a bet that is worth $50. This term is more commonly used in the United Kingdom than the United States.



The “Canadian” is a type of bet containing a total of 26 wagers spread across multiple subtypes. The Canadian is also commonly known as “Super Yankee”.


A very useful and popular term that is used to denote the most likely winner, or favorite, in a particular sports betting contest.

Chalk Bettor

A bettor who only ever backs the favorites. This type of play usually fetches less than ideal profit, but it helps bettors build profit and develop their bankrolls incrementally.

Cover the Spread

A type of wager that is placed against the spread.


Decimal Odds

Decimal odds are the most popular format to display odds in the United Kingdom and Europe. The format is also popular in America and offshore, although “moneyline” is the preferred visualization in the U.S.


One of the most expensive single bets worth $1,000.


A term used to describe the opposite of the “chalk,” i.e. the team that is given good chances to win but is not very likely to win.

Dog Bettor

Similar to “chalk bettor,” dog bettors stick with the underdogs recuperating their losses by winning bigger yields on their successful wagers.

Double Bet

A bet that is placed on two possible outcomes whether on the same game or across different contests.


Each Way

In the cases of arbitrage, some people prefer to place “each way” bets which split the sum of the wager between the two possible outcomes.


The “edge” is the perceived advantage that a player or a team has. The term is also used to denote the “cut” or how much a sportsbook charges on each bet you place.

Even Money

An interesting name for a wager which denotes a competition where the odds of winning are 1:1. The bet is also called “evens” for brevity



A term denoting all participating players and teams in a given sporting event, whether it’s a game or an event.

Fixed Odds

Odds that do not change based on the progressing of sports betting event but remain unchanged all throughout a game.


A very useful term that denotes the recent performance of a player or a team and is used by bettors to decide.

Fractional Odds

A type of odds display that represents the odds as a fractional value. These odds are used in the United Kingdom.


Get Down

Placing a wager, used colloquially.


A super bet that involves 247 bets across multiple selections. The yield usually reaches hundreds of thousands worth of payout.

Grand Salami

A fun type of wager that denotes how many points have been scored in a single day of hockey matches.



Another name for a “point spread” bet. In these scenarios, the sportsbooks are attempting to level the field between teams, making the outcome more unpredictable and giving underdog bettors a slight edge.


To bet against a previous bet you have placed so as to negate potential losses and still guarantee a small profit. This is a type of a value betting situation.


Heinz is a term denoting a bet made on 57 selections which has a big payout.



This is the amount that sportsbooks charge on each individual bet. This type of fee is also known as vigorish, and more commonly vig in the United States. The world is Russian in origin.



When a bet is laid, the bet is placed. Either a sportsbook or a bettor may lay the bet.


A type of agreement between sportsbooks whereby efforts are pooled to negate potential downside from customers winning too much.


This is a common term that combines odds and point spreads in one.

Long shot

A type of bet that is not very likely to pay off, but that guarantees a better overall payout by being less certain than a “chalk”.



The type of wager that is placed on a team or a player to win a sporting contest.



The most successful bet that a betting advisors thinks is worth betting on during the day.



A player or team that is not likely to win, also called the underdog.

Over/Under Bet

A type of bet that is based on whether a game progress to a certain amount of points, i.e. over or under the said amount of points. The same Over/Under betting applies to individual players.


Proposition Bet

A wager on a specific pre-determined outcome whether it’s about an individual player or a team.


Another term for bettor used mostly outside the United States.



A person who places wagers on the behalf of others.



The amount of money that is being wagered.

Straight Bet

A single bet on a team or player winning an event.



A type of bet where a player bets on the spread and changes the points in their favor but agrees to worse odds.



The least likely winner of a competition who is still given a fair chance at the title.


Vigorish or Vig

The specific sportsbooks commission charged by owners on every wager, which guarantees that the platform would continue to generate revenue.