An A-Z Glossary For Punters

The world of betting has its own unique and ever-evolving language. It’s a rich tapestry of old-school turf slang born on the racecourses of Britain, mixed with the modern, data-driven terminology of today’s analytical sports bettor. For the newcomer, this jargon can be a formidable barrier, a confusing code that obscures the path to a deeper understanding. Even experienced punters can encounter unfamiliar terms as new markets and analytical techniques emerge.

This page is your solution. It is the definitive, A-Z glossary of betting terminology, designed to be your constant companion on your journey to becoming a more informed and successful bettor. We have compiled and explained hundreds of terms, covering everything from the fundamental concepts of odds and value, to the specific jargon of horse racing and the advanced metrics of data-driven football betting.

Consider this your betting dictionary. Bookmark it, use the A-Z navigation below to find what you need quickly, and return to it whenever you encounter a word or phrase you don’t understand. Mastering this language is the first step to mastering the market.

A

Accumulator (Acca) A single bet that combines four or more selections from different events into one wager. All selections must win for the accumulator to pay out. The odds are calculated by multiplying the odds of each individual selection. While popular for their high potential payouts, they carry a significant risk and a compounded bookmaker margin. Learn the right way to approach them in our guide to Strategic Bet Builders and Accumulators.

Across the Card A series of bets, usually on horse racing, involving selecting a horse in every race at a particular meeting.

All-Weather (A/W) An artificial racing surface (e.g., Polytrack, Tapeta, Fibresand) designed for horse racing to take place during adverse weather conditions when traditional turf courses might be unraceable.

Allowance In horse racing, a weight reduction given to a horse to compensate for a certain factor. The most common is an apprentice allowance, where a horse ridden by an inexperienced jockey carries less weight than designated.

Also Ran A horse or greyhound that finishes a race but does not finish in a prize-money position (i.e., “unplaced”).

Ante-Post A bet placed on a future event, at least a day in advance of the race or competition. Ante-post markets, particularly for major horse racing festivals like the Cheltenham Festival or the Grand National, can offer much larger odds than those available on the day. The major risk is that the stake is usually lost if the selection does not run (becomes a non-runner).

Arbitrage Betting (Arbing) The practice of placing bets on all possible outcomes of an event across different bookmakers to guarantee a small, risk-free profit, regardless of the result. This is possible due to discrepancies in the odds offered. Bookmakers strongly disapprove of this and will quickly restrict or close the accounts of suspected “arbers.”

Asian Handicap (AH) A type of handicap betting market in football that eliminates the possibility of a draw. Teams are given a fractional goal head-start (+) or deficit (-). For example, a bet on a team with a -1.5 handicap means they must win by two or more goals. It’s a key tool for finding better value on heavy favourites. Discover its strategic use in our Guide to Specialised Bets.

B

Banker A selection that is considered a near-certainty to win. Bankers are often the cornerstone of multiple bets or exotic wagers like the Placepot, where a punter is highly confident in one particular leg of the bet.

Bankroll A sum of money specifically and exclusively set aside for the purpose of betting. Its management is the single most important discipline for long-term survival and success. Mastering this is non-negotiable; read our Beginner’s Guide to Bankroll Management.

Bar A term used by bookmakers in horse racing to indicate that all other runners not specifically mentioned in their current betting forecast are at a certain minimum price or longer. For example, “5/1 Red Rum, 8/1 Desert Orchid, 20/1 bar” means all other horses in the race are priced at 20/1 or bigger.

Beaten Favourite (BF) A horse that was the favourite for a race but failed to win. This is denoted by “BF” in its form figures on a racecard.

Best Odds Guaranteed (BOG) A popular bookmaker promotion, mainly in horse racing. If you take an early price on a horse and its official Starting Price (SP) is higher, the bookmaker will pay you out at the bigger odds if it wins. This protects you from taking a price that later drifts in the market.

Bet Builder A feature that allows punters to combine multiple markets from a single event (usually a football match) into one accumulator-style bet. The key to a smart Bet Builder is combining positively correlated events. Learn this expert-level skill in our guide to Strategic Bet Builders.

Betting Exchange A platform that facilitates peer-to-peer betting, allowing punters to bet against each other rather than against a traditional bookmaker. Users can “back” a selection to win or “lay” a selection to lose. Exchanges, like Betfair, are a crucial tool for professionals as they often offer better odds and are less likely to restrict winning accounts.

Bismarck A betting term for a favourite that the bookmakers believe will lose, and are therefore happy to take a large number of bets on (i.e., it’s “there to be sunk”).

Blinkers A piece of headgear fitted to a horse that restricts its field of vision to the front, featuring eye cups. They are used to help a horse concentrate and prevent it from being distracted by other runners. Indicated by a “b” next to the horse’s name on a racecard.

Bookmaker (Bookie) A person or company licensed to accept bets from the public on the outcome of events at agreed-upon odds.

Both Teams to Score (BTTS) A popular football betting market where you bet on whether both teams in a match will score at least one goal. The final result is irrelevant.

Boxed Bet A strategy used in exotic betting (like Forecasts and Tricasts) where you cover all possible finishing permutations for a group of selected horses. For example, a boxed tricast on horses A, B, and C covers all six possible 1-2-3 finishing orders, increasing the stake but also the chance of winning. This is explained in detail in our Guide to Exotic Bets.

Bumper A National Hunt flat race, run under jump racing rules but with no obstacles. It is designed to give horses intended for a career over jumps valuable racecourse experience.

Burlington Bertie Cockney rhyming slang for the odds of 100/30.

C

Canadian A multiple bet consisting of 26 bets (10 doubles, 10 trebles, 5 four-folds, and a five-fold accumulator) across five selections. Also known as a Super Yankee.

Carpet Betting slang for odds of 3/1.

Cash Out A feature offered by bookmakers that allows a punter to settle a bet before the event has finished. The amount offered is based on the live probability of the bet winning and allows you to lock in a profit or mitigate your losses.

Chalk An American term that has become popular in the UK for the heavy favourite in an event. Betting on the “chalk” means betting on the most popular selection.

Chase (or Steeplechase) A National Hunt (jumps) race run over large, fixed obstacles called fences, such as those in the Grand National.

Cheekpieces Strips of sheepskin or other material attached to the bridle, running down the side of a horse’s face. Like blinkers, they are designed to help a horse concentrate, but are less restrictive. Indicated by a “p” on the racecard.

Claimer

1. An apprentice jockey who is entitled to a weight allowance or “claim” to compensate for their inexperience.
2. A type of horse race where the horses are also for sale for a specified “claiming” price.

Clean Sheet A football term for a team that does not concede any goals in a match. Betting on a team “To Win to Nil” requires them to win and keep a clean sheet.

Closing Line Value (CLV) The value of a bet judged by comparing the odds you took against the final odds offered just before the event starts (the “closing line”). The closing line is considered the most efficient or “sharpest” reflection of the market. Consistently getting better odds than the closing line is the strongest indicator of a long-term profitable betting strategy. We explain why this is the ultimate proof of an edge in our guide to Public Betting Trends.

Closer A horse that does its best running in the closing stages of a race, often coming from the back of the field with a late surge. These horses are favoured when a race is run at a fast pace.

Colt A male horse under the age of five that has not been castrated.

Combination Bet See Boxed Bet.

Connections A collective term for the people associated with a horse, primarily its owner, trainer, and jockey. Analysing their form is a key part of professional handicapping. Learn how to analyse this human factor in our Guide to Jockey and Trainer Form.

Correct Score A football bet where you must predict the exact final score of the match (e.g., 2-1, 0-0).

Course and Distance (C/D) A note on a racecard indicating a horse has previously won over the same course and distance as today’s race. A strong positive indicator of suitability for the day’s test.

D

Dam A horse’s mother.

Dead Heat A rare result where two or more competitors are judged to have finished in a tie. In this case, dead-heat rules apply, where your stake is divided by the number of tying competitors and then settled at the original odds.

Decimal Odds An odds format, popular in Europe and on betting exchanges, where the odds are expressed as a single positive number (e.g., 2.50). The stake is included in the potential return (a £10 bet at 2.50 returns £25). See a full breakdown in our guide to Betting Odds Explained.

Double A multiple bet consisting of two selections from different events. Both must win for the bet to be successful.

Double Chance A football bet where you cover two of the three possible outcomes in a match with a single bet. The options are: Home Win or Draw (1X), Away Win or Draw (X2), or Home Win or Away Win (12).

Draw

1. In football, a match that ends with the scores level.
2. In flat horse racing, the starting stall position a horse is drawn in. This can be a significant advantage or disadvantage at certain courses.

Draw No Bet (DNB) A football market where you bet on a team to win. If the match is a draw, your full stake is returned. It’s a popular market for mitigating risk compared to a standard ‘Win’ bet. Learn its strategic value in our Guide to Specialised Bets.

Drift When the odds of a selection get bigger (lengthen). For example, a horse’s price “drifts” from 4/1 to 6/1. This often indicates a lack of market confidence, but can also create a value opportunity.

Dutching A betting strategy where you back multiple selections in the same event, calculating the stakes so that you win the same amount of profit regardless of which of your selections wins.

E

Each-Way (E/W) A bet consisting of two separate parts: a ‘Win’ bet and a ‘Place’ bet, for a total stake of double your unit. If your selection wins, both parts pay out. If it only places (e.g., finishes 2nd or 3rd), you lose the win part but get a return on the place part, usually at 1/4 or 1/5 of the win odds.

Edge The perceived advantage a punter has over the bookmaker on a particular bet. This is found by identifying a value bet where the odds are believed to be bigger than the true probability.

Even Money (Evens) Odds of 1/1 (or 2.0 in decimal). A winning bet will return exactly double the original stake (the stake plus an equal amount in profit).

Expected Goals (xG) A statistical metric that measures the quality of a goalscoring chance in football, assigning it a probability value from 0.00 to 1.00. It provides a more accurate assessment of a team’s attacking and defensive performance than the final score alone by measuring the quality of chances created. xG is the absolute bedrock of modern football analysis. Master it with our Guide to Understanding Expected Goals.

Expected Value (EV) A calculation that determines the theoretical long-term profitability of a bet. A bet with Positive Expected Value (+EV) is one that, if placed an infinite number of times, would be profitable. Professionals only place +EV bets.

Exotic Bet A term for complex wagers that require predicting more than just a single outcome, such as a Forecast or Tricast in horse racing, or a Scoop 6.

F

Favourite (Fav) The selection in an event that the market deems most likely to win, and is therefore offered at the shortest odds.

Fences The larger, more rigid obstacles used in a National Hunt Steeplechase.

Filly A female horse under the age of five.

First Goalscorer (FGS) A popular football prop bet where you predict which player will score the first goal of the match.

Fold Refers to the number of selections in an accumulator. For example, a “five-fold” is an accumulator with five selections.

Form A record of a horse’s or team’s past performances. In horse racing, this is represented by a string of figures next to the horse’s name (e.g. 12-F3). Learning to read form beyond the basic numbers is a crucial skill. Learn how in our Guide to Interpreting Form.

Forecast A bet in horse or greyhound racing where you must predict the first and second-placed finishers in the correct order (Straight Forecast) or in any order (Reverse Forecast).

Fractional Odds The traditional odds format in the UK (e.g., 4/1). The first number represents the potential profit, and the second number represents the stake required to win it. See a full breakdown in our guide to Betting Odds Explained.

Furlong The standard unit of distance in UK horse racing, equal to one-eighth of a mile or approximately 201 metres. A six-furlong race is 3/4 of a mile.

G

GamCare A leading UK charity providing information, advice, and support for anyone affected by gambling problems.

Gelding A male horse that has been castrated. This is often done to make the horse calmer, more manageable, and more focused on racing.

Going The official term for the condition of the ground on a horse racing course, ranging from Heavy (very wet) to Firm (very dry). It is a critical factor in a horse’s performance as different horses have strong preferences.

Goliath A massive multiple bet consisting of 247 bets (28 doubles, 56 trebles, 70 four-folds, 56 five-folds, 28 six-folds, 8 seven-folds and an eight-fold accumulator) across eight selections.

Grade/Group Race The highest class of race in National Hunt (Grade 1, 2, 3) and Flat (Group 1, 2, 3) racing. These are the championship events where the best horses compete, such as the Cheltenham Gold Cup (Grade 1) or the Derby (Group 1).

H

Half Time/Full Time (HT/FT) A football bet where you must correctly predict the result of a match at both half-time (e.g., Draw) and at full-time (e.g., Home Win). This is expressed as Draw/Home.

Handicap A race or event where competitors are given a disadvantage (like carrying extra weight in horse racing) or an advantage (like a goal head-start in football) by the official handicapper, in order to theoretically create an equal chance for all participants.

Hedging Placing a bet on a different outcome to your original bet, in order to reduce your risk or lock in a guaranteed profit. For example, laying the final leg of an accumulator on a betting exchange to ensure a win regardless of the result.

Heinz A multiple bet consisting of 57 bets (15 doubles, 20 trebles, 15 four-folds, 6 five-folds and a six-fold accumulator) across six selections, named after the “57 Varieties” slogan.

Hold-Up Horse See Closer.

Hurdles The smaller, standardised obstacles used in a National Hunt hurdle race. They are lower and more forgiving than fences.

I

Implied Probability The probability of an outcome occurring as suggested by the bookmaker’s odds. Converting odds into a percentage is the first step in identifying a value bet. This is a core concept; learn it inside-out with our guide to Betting Odds Explained.

In-Running Betting that takes place after an event has started and before it has concluded. Also known as live betting or in-play betting.

J

Joint-Favourite When two selections in an event are both priced at the same shortest odds.

Jockey The person who rides a horse in a race. Their skill, strength, and tactical awareness are a huge factor in a horse’s performance.

Jolly A popular slang term for the favourite in an event.

K

Kite Betting slang for a cheque.

L

Lay Bet A bet offered on a betting exchange where you bet on an outcome not to happen. For example, to lay a horse is to bet on it to lose. When you lay a bet, you are effectively acting as the bookmaker, paying out if the selection wins.

Lengthen When the odds on a selection get bigger (e.g., from 4/1 to 5/1). See Drift.

Line Shopping The crucial practice of checking and comparing odds across multiple bookmakers and exchanges to ensure you get the best possible price for your bet. Failing to do this is a major leak in any punter’s profitability and directly reduces your potential winnings. This is a fundamental discipline. Learn how to do it effectively in our Guide to Line Shopping.

Listed Race A class of horse race just below Group or Graded level in quality.

Longshot See Outsider.

Lucky 15 / 31 / 63 A type of multiple bet that includes singles as well as doubles, trebles, etc. A Lucky 15 consists of 15 bets across four selections (4 singles, 6 doubles, 4 trebles, and a four-fold). Many bookmakers offer bonuses on these bets.

M

Maiden A horse that has not yet won a race.

Margin (Vig or Overround) The bookmaker’s built-in profit margin on a betting market. It is the reason why the sum of all implied probabilities in an event will add up to more than 100%. A market with a total book of 105% has a 5% margin.

Mare A female horse aged five or over.

Moneyline Odds The American odds format, which uses a positive (+) and negative (-) sign to indicate the underdog and favourite, based on a $100 baseline. A -150 favourite means you must stake $150 to win $100. A +200 underdog means you win $200 for a $100 stake. See a full breakdown in our guide to Betting Odds Explained.

Monkey Betting slang for £500.

Multiple Bet A bet that combines two or more selections, where the winnings from the first leg roll onto the second, and so on. Includes doubles, trebles, and accumulators.

N

Nap A tipster’s most confident selection of the day. Short for “Napoleon.”

National Hunt The official name for Jumps racing in the UK and Ireland, featuring hurdles and fences.

Neck A margin of victory in horse racing, describing a horse winning by the length of its neck.

Non-Runner A horse that was declared to run in a race but is withdrawn before it starts. Stakes on non-runners are returned (except in ante-post betting), though a Rule 4 deduction may apply to other bets in the race.

Nose The smallest official margin of victory in a horse race.

Novice A horse in the early stages of its career in a particular code (e.g., a novice hurdler or novice chaser).

O

Objection A complaint by a jockey, trainer, or steward regarding the conduct of a participant during a race. See Stewards’ Inquiry.

Odds The price offered by a bookmaker on a particular outcome, which reflects its perceived probability and determines the punter’s potential winnings.

Odds-Against Odds that are longer than Evens (e.g., 2/1 or 3.0). A winning bet will return a profit that is greater than the stake.

Odds-On Odds that are shorter than Evens (e.g., 1/2 or 1.50). A winning bet will return a profit that is less than the stake.

Official Rating (OR) A numerical rating given to a horse by the official handicapper to denote its ability. This rating determines the weight a horse carries in a handicap race.

On the Bridle A racing term for a horse that is running comfortably and with ease, without being pushed along by its jockey. A horse running “on the bridle” still has plenty of energy in reserve.

On the Nose A slang term for a “win only” bet.

Outsider A selection with long odds that is considered very unlikely to win. Also known as a longshot or a rag.

Over/Under Goals A football market where you bet on whether the total number of goals in a match will be over or under a specified line (e.g., 2.5). This allows you to bet on the nature of the game itself rather than the winner. This is a key market for data-driven bettors. Learn more in our Guide to Specialised Bets.

Overround See Margin.

Overlay A term for a value bet, specifically one where the odds are considered to have been artificially inflated due to market forces, such as heavy public betting on the favourite. Finding overlays by betting against public sentiment is a professional strategy. Learn about it in our Guide to Public Betting Trends.

P

Pace The tempo of a horse race (fast or slow). The pace of a race can significantly advantage or disadvantage horses with different running styles (e.g., front-runners vs. closers), making it a crucial factor in advanced analysis. Pace analysis is a key handicapping skill. Learn the fundamentals in our Pace Makes the Race guide.

Paddock The area of a racecourse where horses are paraded in the saddling enclosure before a race for inspection by trainers, owners, and the public.

Patent A multiple bet consisting of 7 bets (3 singles, 3 doubles, and a treble) across three selections. It is a full cover bet, meaning you get a return even if only one selection wins.

Penalty Extra weight a horse must carry in a race as a result of winning a previous race.

Permutations (Perms) The total number of possible combinations in a multiple or exotic bet. For example, boxing three horses in a tricast involves 6 permutations.

Place A high finishing position in a horse race, typically 2nd, 3rd, or 4th, which pays out on the ‘place’ part of an each-way bet. The number of places paid depends on the number of runners and the type of race.

Placepot A popular Tote bet where the punter must select a horse to place in each of the first six races on a card.

Pony Betting slang for £25.

Positive Correlation An expert-level concept in Bet Builders where selections are linked in a way that if one outcome happens, the others become more likely. For example, Team to Win, Over 2.5 Goals, and a Striker to Score are all positively correlated.

Progressive Pass An advanced football metric that measures a completed pass that moves the ball significantly closer to the opponent’s goal. A key indicator of attacking intent. This is covered in our Guide to Advanced Metrics.

Prop Bet (Proposition Bet) A bet on a specific event or player performance within a match, which is not necessarily tied to the final outcome (e.g., Player to be Booked, Number of Corners, Player to have X Shots on Target).

Pulled Up (PU) When a jockey deliberately stops a horse before the end of a race, usually because it is tired, injured, or has no chance of winning. This is marked as ‘P’ in the form guide.

Punter The person who places a bet or wager.

Q

Quinella An exotic bet, more common in North America and Australasia, similar to a Reverse Forecast, where the punter must select the first two finishers in any order.

R

Rag Slang for a longshot or outsider.

Return on Investment (ROI) A measure of the profitability of betting activity over a period, calculated as (Total Profit / Total Stakes) * 100. A positive ROI is the goal of every serious bettor.

Reverse Forecast A bet on two selections to finish 1st and 2nd in a race in any order. It is two separate straight forecast bets.

Rule 4 A Tattersalls Rule of Racing deduction applied to winning bets in a horse race when a horse is withdrawn after the final declaration stage. The size of the deduction is based on the odds of the non-runner at the time of its withdrawal and is designed to re-frame the market without the withdrawn horse.

S

Scorecast A football bet that combines predicting the first goalscorer and the correct final score in one wager. The odds are high due to the difficulty.

Shorten When the odds on a selection get smaller (e.g., from 5/1 to 4/1), usually due to a large amount of money being bet on it.

Silks The distinctive coloured jacket and cap worn by a jockey to identify the horse’s owner.

Single The simplest form of bet: one selection on one outcome. The foundation of a professional’s betting portfolio.

Sire A horse’s father.

SP (Starting Price) The official odds of a horse at the moment the race begins, determined by a consensus of on-course bookmakers. It is the price used to settle bets for punters who did not take a specific price when placing their wager.

Stake The amount of money a punter risks on a bet.

Steamer A selection whose odds shorten dramatically in a short period of time, indicating a surge of market confidence.

Stewards’ Inquiry An official inquiry held by the racecourse stewards after a race to review a potential infringement of the rules, such as interference between horses. The result can be amended based on their findings.

Super Heinz A large multiple bet consisting of 120 bets (21 doubles, 35 trebles, 35 four-folds, 21 five-folds, 7 six-folds and a seven-fold accumulator) across seven selections.

System Bet A type of bet that involves creating multiple combinations from a larger pool of selections, such as a Trixie or a Yankee. Unlike an accumulator, not all selections need to win to get a return.

T

Tattersalls Rule of Racing The official rules governing betting on horse racing in the United Kingdom. Rule 4 is the most famous of these.

Tic-Tac A traditional method of sign language used by bookmakers on a racecourse to communicate odds and information.

Tilt A term originating from poker, describing a state of emotional frustration or anger that leads a player (or punter) to adopt a sub-optimal, often reckless, strategy. It is the enemy of rational decision-making and a major bankroll killer.

Tipster An individual or service that provides expert analysis and betting selections (tips) to subscribers.

Tote A form of pool betting where all stakes on a race are placed into a central pool. The “house” takes a percentage, and the remaining pool is divided among those with winning tickets. Payouts are known as dividends, and can sometimes be larger than the SP for outsiders.

Trainer The person responsible for the daily care, fitness, and strategic race-planning of a horse. Their form and specialisms are a key analytical factor.

Treble A multiple bet consisting of three selections from different events. All three must win for the bet to be successful.

Tricast A bet where you must predict the first, second, and third-placed horses in the correct order. Available in handicap races with 8 or more runners.

Trixie A multiple bet consisting of 4 bets (3 doubles and a treble) across three selections.

U

Underdog The selection in an event that the market deems less likely to win, offered at longer odds. Betting on underdogs can be a profitable strategy if they are identified as offering value.

Unplaced See Also Ran.

V

Value Bet The cornerstone of professional betting. A bet where the true probability of an outcome is assessed to be greater than the implied probability in the bookmaker’s odds. Placing only value bets is the only mathematically sound way to achieve long-term profit. This is the most important concept in betting. Read our full guide to How to Find Value Bets.

Variance A statistical term for the natural, unpredictable ups and downs in betting results. Even a profitable strategy will endure losing runs (drawdowns) due to variance. Understanding and preparing for this is crucial for psychological resilience. Learn how to handle the psychology of these runs in our Guide to Navigating Variance.

Visor Similar to blinkers, but with a small slit in the eye cups, allowing for some limited rear and side vision. Indicated by a “v” on the racecard.

W

Walkover A race in which only one horse is declared to run. The horse must still complete the course to be declared the winner.

Weighed In The official confirmation after a horse race that the jockeys have been weighed to ensure their horse carried the correct weight. Once the “weighed in” announcement is made, the result is official and bets can be settled.

Wincast A football bet that combines predicting a player to score at any time and the correct final result of the match (e.g., Harry Kane to score and England to win 2-1).

Y

Yankee A popular multiple bet consisting of 11 bets (6 doubles, 4 trebles, and a four-fold accumulator) across four selections.

Yard Another term for a trainer’s stables and training facilities.

Yearling A young horse that is one year old (from January 1st in the Northern Hemisphere).

Z

No common betting terms beginning with Z, let us know if you find any!