Knowledge Base
Glossary
Plain-English definitions for the terminology used across Pitch Notes.
- Accumulator
- a bet that combines multiple selections into one wager; all must win for the bet to pay out.
- Asian Handicap
- a spread betting system that eliminates the draw outcome by giving a head start or deficit to each team.
- Bankroll
- the total amount of money a bettor sets aside for betting activities.
- Bet Builder
- a feature that lets you combine multiple markets from a single match into a single bet.
- Bet Slip
- the electronic form that records the selections and the stake for a bet.
- Bookmaker
- a company that sets odds and accepts bets on sports and other events.
- Cash Out
- a feature that allows you to settle a bet before the event ends, either securing a profit or cutting a loss.
- Correct Score
- a bet that predicts the exact final score of a match.
- Double Chance
- a bet that covers two of the three possible outcomes (win, draw, win) in a match.
- Draw No Bet
- a bet that refunds your stake if the match ends in a draw.
- Edge
- the perceived advantage a bettor believes they have over the bookmaker’s odds.
- Expected Goals (xG)
- a metric that estimates the number of goals a team should score based on the quality of its chances.
- Free Bet
- a promotional token that can be used to place a bet without risking your own money.
- Handicap
- a point adjustment applied to a team’s final score to create balanced odds.
- In-Play
- bets placed after an event has started, with odds that update as the action unfolds.
- Juice
- the commission or vigorish a bookmaker adds to the odds, representing the house edge.
- Lay
- to bet against a particular outcome, often used in exchange betting.
- Margin
- the bookmaker’s built-in profit margin, expressed as a percentage of the implied probabilities.
- Odds
- the numerical representation of the likelihood of an outcome, determining the payout for a winning bet.
- Over/Under
- a bet on whether a specific statistic (e.g., total goals) will be above or below a set line.
- Parlay
- another term for an accumulator; a single bet linking two or more selections.
- Rollover
- a wagering requirement that profits (or bonuses) must be turned over a certain number of times before withdrawal.
- Stake
- the amount of money wagered on a bet.
- Value Bet
- a selection where the odds appear higher than the true probability, offering a positive expected return.
- Void Bet
- a bet that is cancelled and the stake refunded, usually due to a match being postponed or a rule violation.