Knowledge Base
Glossary
Plain-English definitions for the terminology used across Fan Strategy.
- 1X2
- A three-way betting market where you pick either the home team to win (1), a draw (X), or the away team to win (2).
- Accumulator
- A single bet that combines multiple selections and all must win for the bet to pay out, increasing potential returns.
- Arbitrage
- 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 option and offering adjusted odds.
- Bankroll
- The total amount of money you have set aside for betting, used to manage your bets and track profits.
- Cash Out
- A feature that lets you settle your bet before the event ends, locking in a profit or cutting a loss.
- Closing Line
- The final odds offered just before an event starts, often considered the most accurate reflection of true probability.
- Dutching
- Spreading your stake across multiple outcomes in the same event to ensure a profit no matter which one wins.
- Expected Value (EV)
- A measure of the average profit or loss you can expect from a bet over time, based on probability and odds.
- Free Bet
- A promotional offer where the bookmaker gives you a bet without using your own money and winnings are usually returned minus the stake.
- Hedge
- Placing an opposite bet to an existing wager to reduce risk or secure a profit regardless of the final result.
- In-Play Betting
- Placing a bet after a match has started, with odds that change as the game unfolds.
- Juice
- The commission or fee a bookmaker charges on a bet, usually already included in the odds.
- Kelly Criterion
- A mathematical formula that calculates the optimal percentage of your bankroll to wager for maximum long-term growth.
- Line Movement
- The change in odds or point spread over time, reflecting betting volume and new information.
- Margin
- The bookmaker's built-in advantage, expressed as a percentage, ensuring they make a profit over the long term.
- Moneyline
- A bet on which team will win a match, with odds expressed as a positive or negative number.
- Odds
- The probability of a specific outcome expressed as a number that determines how much you can win if your bet is correct.
- Opening Line
- The initial odds set by a bookmaker when a market first opens, which can change as betting begins.
- Over/Under
- A bet on whether the total number of goals scored in a match will be more or less than a set number.
- Rollover Requirement
- The number of times you must wager a bonus or deposit amount before you can withdraw any winnings.
- Stake
- The amount of money you put on a bet, which determines the size of your potential payout.
- Steam Move
- A rapid shift in odds caused by a large amount of bets on one outcome, often showing where experienced bettors are placing money.
- Unit
- A standardized amount of money used to measure the size of each bet, typically a fraction of your bankroll.
- Value Bet
- A bet where the odds offered are higher than the true probability of the outcome, suggesting a positive expected return.