Knowledge Base
Glossary
Plain-English definitions for the terminology used across Fan Strategy.
- Arbitrage
- The practice of betting on all possible outcomes of an event across different bookmakers to guarantee a profit regardless of the result.
- Asian Handicap
- A handicap given to a team to level the playing field, eliminating the draw and offering two possible outcomes.
- Bankroll
- The total amount of money you have set aside for placing bets.
- Both Teams To Score (BTTS)
- A bet on whether both teams will score at least one goal during the match.
- Cash Out
- A feature that allows you to settle a bet before the match ends, locking in a profit or minimizing a loss based on current odds.
- Closing Line
- The final odds offered just before a match starts, considered a benchmark for the true probability of an outcome.
- Correct Score
- A bet on the exact final score of a match, such as 2-1 or 3-0.
- Double Chance
- A bet that covers two of the three possible outcomes in a match, such as win or draw for a team.
- Draw No Bet
- A bet where you win if your team wins, and get your stake back if the match ends in a draw.
- Edge
- Your perceived advantage over the bookmaker, often based on analysis or information that the odds do not fully reflect.
- First Goalscorer
- A bet on which player will score the first goal in the match.
- Free Bet
- A promotional credit provided by a bookmaker that can be used to place a bet, with any winnings (but not the stake) returned if you win.
- Futures Bet
- A bet placed on the outcome of a tournament or league, such as who will win the World Cup, often with higher odds.
- Half-Time/Full-Time
- A bet that requires you to predict both the result at half-time and the result at full-time.
- Kelly Criterion
- A mathematical formula that calculates the optimal percentage of your bankroll to wager for the best long-term growth.
- Line Movement
- The change in odds or point spread over time, often caused by betting volume or new information.
- Live Betting
- Betting on a match while it is in progress, with odds that update as the game unfolds.
- Moneyline
- A bet on which team will win the match, with odds expressed as a positive or negative number.
- Over/Under
- A bet on whether the total number of goals scored in a match will be more or less than a set number.
- Parlay
- A single bet that combines two or more selections, all of which must win for the bet to pay out.
- Prop Bet
- A wager on a specific event within a match, such as which player scores first or how many yellow cards are given.
- Unit
- A standard amount of money used to measure the size of a bet, usually a fraction of your bankroll.
- Value Bet
- A bet where you believe the odds offered are higher than the true probability of the outcome, giving you an edge.
- Vig
- The commission or fee that a bookmaker includes in the odds, reducing the potential payout for bettors.