Sports Betting Terms Glossary

The world of sports betting uses its own language, full of acronyms, Anglicisms, and technical terms. Mastering this **Sports Betting Terms Glossary** is essential to understanding advanced strategies, communicating accurately about prognoses, and, most importantly, understanding the rules and markets offered by bookmakers. This exhaustive dictionary covers the key terms, from the fundamentals to advanced concepts of risk management and value analysis.

1Fundamentals and Initial Concepts

• Simple Bet: A prognosis on a single event. The basis of all value strategies.
• Multiple/Combined Bet (Parlay): A bet that groups two or more selections. All must be correct to win.
• Odds: The numerical value offered by the bookmaker. Determines the potential winning and the implicit probability of the result.
• Implicit Probability: The probability that a result will occur, calculated as $1 / ext{Odds}$.
• 1X2: The classic final result market: 1 (Home), X (Draw), 2 (Away).
• Double Chance: Covers two of the three 1X2 results with a single bet (e.g., 1X, X2, 12). Lower risk, lower odds.
• Bankroll: The total capital that a bettor exclusively dedicates to betting. The management of this capital is crucial.
• Stake: The level of risk or the amount of money wagered on an event, generally expressed on a scale of 1 to 10 or as a percentage of the bankroll.

2Advanced Markets Terms

• Asian Handicap (AH): Market that balances matches by eliminating the draw and offering options for partial or total refund (push). It is expressed with half and quarter goals (e.g., -0.5, +1.25).
• European Handicap (EH): Handicap market that only uses whole numbers and maintains the draw as a losing result (unless you bet on the handicap draw).
• Over/Under: Bet on the total goals/points. Over if the line is exceeded; Under if it is not exceeded (e.g., Over 2.5 goals).
• Both Teams to Score (BTTS): Market where you bet on whether both teams will score (Yes) or not (No).
• Draw No Bet (DNB): Simple bet where, if the result is a draw, the money wagered is refunded (push).
• Expected Goals (xG): Advanced metric that measures the quality of scoring opportunities created by a team. Vital for Over/Under analysis.

3Strategy and Risk Management

• Value Betting: Finding an odd where the real probability of an event is higher than the implicit probability of the bookmaker. It is the basis of long-term profitability.
• EV+ (Positive Expected Value): A bet that, in the long term, will generate profits because the value of the odd is higher than the risk assumed.
• Vig (Vigorish or Juice): The profit margin or commission that the bookmaker charges for each market. It is included in the odd.
• Hedge (Coverage): Strategy of betting on the opposite result at another time or on another bookmaker to guarantee a profit or mitigate a loss.
• Surebet (Arbitrage): A mathematical opportunity where the discrepancy of odds between bookmakers allows betting on all results and guaranteeing a profit.
• Cashout (Early Settlement): Feature that allows closing the bet before the event ends, securing a win or mitigating a loss (generally with negative value).
• Variance: Short-term statistical fluctuations. It is temporary bad or good luck. Variance does not affect the method, only the immediate result.
• Underdog: The team or player who is not the favorite to win. Often offers the best value odds.

4Psychology and Discipline

• Chasing Losses: The psychological error of increasing the stake after a loss to recover it immediately. The main cause of bankruptcy.
• Tilt: The loss of emotional control or frustration that leads to making irrational decisions and betting impulsively.
• Betting Journal: A detailed record of every bet, including prior analysis, used to evaluate the profitability of the method.
• Confirmation Bias: The error of only looking for information that supports an initial prognosis.
• Fractional Kelly: A more conservative version of the Kelly Criterion, used to assign stake mathematically, but with lower volatility risk.

This glossary provides the necessary vocabulary to operate at the highest level of sports betting. By understanding the deep meaning of each term, you can implement more complex strategies and communicate your analysis with the precision of a professional.