As a punter, you will come across various betting terms. And sometimes, you will not know what they mean and might even think they are too complex for your betting expertise. But guess what! Understanding these terms can set you apart from the other punters and help you take advantage of sign up offers from reputable bookies. Let’s start with sign-up offers – these are incentives offered by bookies to help you spend less on your wagers and hedge your risk. See? These terms are pretty easy to understand. Let’s discover some more:
What Terms Must You Know?
There are many betting terms, with new ones coming up daily. So, we will focus on those you will likely come across when placing wagers or in betting forums so you do not get left out:
Have you heard of these bets? Rather than stake on one event, you bet on various events to increase your profit while using the same wager. Here’s an example of how it works:
- You bet on event A (Teams 1 and 2) and back team 1, which has 2.00 winning odds, on event B (Teams 3 and 4) and choose team 3, which has 3.00 winning odds, and on event C (Teams 5 and 6) where team 6 has 4.00 winning odds,
- You place a total stake of $100,
- If all your predictions are correct, you earn ($100*2.00*3.00*4.00), which is $2,400!
- You lose your stake if one or none of your predictions are correct.
That’s how it works. Some sites allow you to add as many events as you want. But remember that while aiming for the highest payout might seem ideal, one loss will result in losing your stake.
- Arbitrage Betting
Have you heard of arb betting? You likely have because some bookies do not look favorably upon it. Under this gameplay, punters seek to hedge their risk as much as possible by betting on all possible outcomes. For example, if event A with Teams 1 and 2 has outcomes of home win, draw, or away win, a punter can cover all these with a bet and ensure that no matter the outcome, they still make money and avoid a loss. However, such options are few and far between and require punters to shop for odds constantly.
- Acca Insurance
Like we said under the accumulator bet, one loss could see you lose your stake. Some bookies offer this type of insurance that applies when you lose the entire bet by one selection. In that case, you get your stake back, which helps you hedge your risk to some extent.
How much money are you willing and able to spend on wagers? Sometimes, punters go in without a solid plan, which is a significant financial risk. A bankroll is the money every punter should set aside to use in bets, and it should be money you can afford to lose. When a punter depletes this cash, they should call it quits and avoid chasing losses. Do you have one?
Relying on bookie odds to predict outcomes can be misleading. That’s because bookies factor in a commission, also known as vig, in all their odds. That way, regardless of how many people win, they still get to make a profit on the grounds of creating a platform where people can place bets.
Do not get too caught up with the terms. While they are essential, they are not as integral to your betting as your basics: choosing a sport, learning the odds, and capping how much you spend on wagers. You cannot let up on these factors if you want to be a successful punter in the long run.