Knowledge Base
Glossary
Plain-English definitions for the terminology used across Fan Strategy.
- Accumulator
- A single bet that combines multiple selections; all must win for the bet to pay out, multiplying the odds.
- 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 match, expressed as a positive or negative goal margin, so you bet on the adjusted outcome.
- Back
- To bet on an outcome to happen, taking the opposite side of a lay bet.
- Bankroll Management
- The practice of setting and sticking to a budget for betting, deciding how much to wager per bet to avoid big losses.
- Bet Builder
- A tool that allows you to combine multiple markets from the same match into a single custom wager.
- Betting Exchange
- A platform where bettors can back or lay outcomes against each other, often with lower commissions than a traditional bookmaker.
- Bookmaker
- A company that sets odds and accepts bets, taking the opposite side of the customer’s wager.
- Both Teams to Score (BTTS)
- A market where you wager on whether both sides will score at least one goal during the match.
- Cash Out
- A feature that lets you settle a bet before the event ends, locking in a profit or limiting a loss based on current odds.
- Decimal Odds
- A way to express odds as a single number (e.g., 2.50) that includes the stake; total return = stake × decimal.
- Draw No Bet
- A market that eliminates the draw option; you win if your chosen team wins, and get your stake back if the match ends in a draw.
- Fractional Odds
- Odds shown as a fraction (e.g., 3/2) that indicate how much profit you make relative to your stake.
- In-Play Odds
- The constantly changing odds offered during a live match, reflecting the current state of play.
- Kelly Criterion
- A mathematical formula that calculates the optimal percentage of your bankroll to wager based on perceived edge.
- Lay
- To bet against an outcome happening, acting as the bookmaker by offering odds to other bettors.
- Live Betting
- Placing bets on match events while the game is in progress, with odds that update in real time.
- Margin
- The bookmaker’s built-in profit margin, expressed as a percentage, which is why odds across markets are less than 100% probability.
- Moneyline Odds
- A format used mainly in the US that shows how much you must bet (negative) or win (positive) on a $100 wager.
- Over/Under
- A bet on whether the total number of goals in a match will be more (over) or less (under) than a set figure.
- Parlay
- A bet that links two or more selections; all must win for a payout, and odds are multiplied together.
- Responsible Gambling
- Tools and practices, such as deposit limits and self‑exclusion, that help you stay in control of your betting activity.
- Single Bet
- A straightforward bet on one outcome; you win if that selection wins.
- Stake
- The amount of money you risk on a bet; your potential payout is calculated from the stake multiplied by the odds.
- Value Bet
- A wager where the odds offered by the bookmaker are higher than the true probability of the outcome, suggesting a potential edge.