Betting Terms Explained
It's time to learn some basic betting expressions.
Parlay, accumulator, or combo bet
If you place two or more bets on one betting slip - it's called a betting accumulator, parlay or a combo bet. The benefit of the combo is that odds of each individual bet multiply. If any of the bets in the combo lose, the entire ticket loses.
(See the screenshot above) A player added five games to a betting slip and all odds multiplied! (26,48!) He placed 285,71€ on this combo and won 7.566,85€!
If you'd like to place a combo bet, simply choose your desired outcomes like if you were placing single bets. Only this time, don't place bets after each game is added. Keep adding them until you're satisfied with your selection. And after that, place the bet!
A single bet is one game on a betting slip. Two or more are a combo bet, parlay or accumulator.
Over / Under betting
In an over/under (O/U) bet a bookie will predict usually the combined score of the two teams.
Bettors place bets that the actual number in the game will be either higher or lower than that number.
For example, in American Football, most bookies set the over–under on the score of the game at 46.0. A bettor could wager that the combined score of the two teams would be either more or less than that number. If the combined score of that game was 45, anyone who had bet on "under" won.
In European Football (soccer), a classic over-under bet is set to 2,5 goals. Should a game end with 1-0, anyone who bet on "under" won. In case, a game ends 3-0, 2-2, as soon as the combined score is 3 goals or more, anyone who bet on "over" won.
Asian Handicap
Asian handicap betting is a form of betting in which teams are handicapped according to their current performance.
The favorite must win by more goals for a player betting on them to win.
Handicap betting reduces the number of outcomes from three (traditional 1X2 in soccer) to two by eliminating the draw. This creates a situation where each team has a 50-50 chance of winning; similar to the odds for a basketball or football spread handicap offered by American bookies. The odds are usually set to 1.90 for both teams.
An example - a game between Everton vs. Newcastle United
Handicap: Newcastle +1.0, +1.5
This handicap states that half of your bet goes on Newcastle to win, draw, or lose by less than 1 goal; and half on Newcastle to win, draw, or lose by less than 1.5 goals.
If the final score is Everton 1-0 Newcastle, half your bet would be refunded due to draw (Everton 1 - +1 Newcastle, i.e: Newcastle lost by exactly one goal). The second half would win (Everton 1 - +1.5 Newcastle, i.e: Everton lost by less than 1.5 goals).
Spread betting
A strong team may face a statistically weaker team; almost every game has a favorite and an underdog. If the bet is simply "Will the favorite win?", bets are likely to be made for the favorite.
Point spread is a handicap towards the underdog. The bet now becomes "Will the favorite win by more than the point spread?"
As you can see in this College basketball example, the underdog Massachusetts gets an additional +11 point spread. The favorite - VA Commonwealth must beat them by more than 11 points in order to win this bet.