Knowledge Base
Glossary
Plain-English definitions for the terminology used across Pitch Notes.
- Acca
- Short for accumulator; a single bet that combines multiple selections, all of which must win for the bet to pay out.
- American Odds
- Odds expressed as a positive or negative number, showing how much you win on a $100 bet or how much you must wager to win $100.
- Arbitrage
- Placing bets on all possible outcomes of an event across different bookmakers to guarantee a profit regardless of the result.
- Back
- To bet on a specific outcome to happen, essentially supporting that selection.
- Bankroll Management
- The practice of setting limits on how much money you allocate for betting and sticking to those limits.
- Bonus
- Extra funds or free bets offered by a sportsbook, usually subject to certain conditions before withdrawal.
- Bookmaker
- A company or person that sets odds and accepts bets on sports events.
- Cash Out
- A feature that lets you settle a bet before the event ends, locking in a profit or cutting a loss.
- Decimal Odds
- A way to display odds as a single number, where the total return includes the original stake.
- Expected Value
- The average amount you expect to win or lose on a bet over time, based on the odds and how often you think it will happen.
- Fractional Odds
- Odds shown as a fraction, indicating how much profit you’ll make for each unit of stake.
- Hedge
- Placing a second bet on the opposite outcome to reduce risk or lock in a profit after an initial wager.
- Juice
- The extra charge taken by the bookmaker on each bet, embedded in the odds.
- Lay
- To bet against an outcome occurring, acting as the bookmaker by offering odds to other bettors.
- Live Betting
- Placing bets 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 shown as a positive or negative number.
- Odds
- The number that tells you how much you can win relative to your stake; higher odds mean a bigger potential payout.
- Over/Under
- A bet on whether the total number of goals scored in a match will be more or less than a set figure.
- Parlay
- A type of bet that links two or more individual wagers, requiring every selection to win to receive a payout.
- Responsible Gambling
- Practices and tools designed to help you gamble safely, such as setting deposit limits or self‑exclusion options.
- Single Bet
- A straightforward bet on one outcome, with the win determined solely by that one selection.
- Spread
- A handicap given to a team to make the betting odds more balanced, often expressed as a number of goals.
- Stake
- The amount of money you place on a bet, which determines your potential winnings.
- Value Bet
- A bet where the odds seem better than the actual chance of the outcome, giving you a potential edge.
- Wagering Requirement
- A condition that requires you to bet a certain amount before bonus money can be withdrawn.