The Most Important Sports Betting Terms Explained

When you are new to sports betting, the terms used might seem confusing. Knowing the meaning of these terms can help make your sports betting journey more exciting. In this article, we have defined the most important sports betting terms to help new players understand the lingo that people use used in the world of gambling.

But where to Find Best Online Sportsbook in Nigeria?

Betting markets are rapidly growing in African countries, including Nigeria. As a result, finding the right option that suits your betting style can be difficult. Fortunately, players in Nigeria who want to bet on their favourite sports can read this guide on Soccerbetting365. It will help them to easily find the right betting site that offers what they need, which will ensure that they will gamble in a safe environment and have a thrilling gambling experience.

Related: The Fastest Growing Mobile App Industries

But now let’s go on and explain the most important terms

Action

Having an active wager of any type on a sporting event or the acting of placing bets.

ATS (Against the Spread)

This is when you bet on the outcome of any sporting event, and it correlates to the point spread.

Arbitrage

A betting strategy that involves making a wager on every single possible outcome of a sporting event to ensure that you are guaranteed on making a profit regardless of the winner.

Asian Handicap

This type of betting started in Asia; it’s an alternative way to bet on football where the better football team is “handicapped”. Handicap typically means that one team that will be given a head start and effectively lead the game by differing amounts before it starts.

Bookmaker

A sportsbook or website that accepts and pays off winning bets on sporting events at agreed-upon odds.

Bankroll

This is the sum of money a punter sets available to bet on the games they are interested in. Bankroll management allows punters to play longer and have funds set aside that will cover their losses while they wait for a winning streak.

Bet

To wager or gamble on the outcome of an event at agreed-upon odds.

Betting Exchange

This is a betting platform that allows players to wager against each other instead of a bookmaker. The betting exchange operator will take a certain percentage of the winning bets.

Betting Unit

A measurement of the size of the player’s bet. Players often have different sized casino bankrolls and a betting unit is a way of sharing how much the bet was without revealing a specific amount.

Bonus

A bonus is a reward that sportsbook grants to players for various reasons. This can come in the form of deposit matching in on-site currency or bonus cash, free spins, and more. Bookmaker offers bonuses to new customers who register at their site as part of promotions or a welcome package.

Closing Line and Opening Line

The closing line refers to the final odds on an event before pregame wagers stop being accepted. The line moves up or down, depending upon an unexpected change in the matchup or which side is getting the most money wagered. The opening line, on the other hand, refers to the initial odds of an event.

Double Chance

This term is often used in football betting. A double chance bet allows the player two opportunities of winning a wager. For instance, the outcome of a football match can be either a tie, loss or win. For this reason, a double chance bettor can decide to combine two of these three outcomes rather than choosing one result.

Fixed Odds

Odds in sports betting that are predetermined. This means that once you place your wager, the odds will be set and won’t change. Players who bet on horse racing might experience changing odds from parimutuel betting.

First Half Wager

A derivative bet often placed on a sport with two halves. Basketball and Football are the popular sports that players place a first half bet.

Live Betting

Also known as in-running betting or in-play betting, live betting is the process of wagering on any sporting event that is in progress, with odds that are fluctuating in real-time. Live betting takes away the need of the bettor studying statistics and puts them at the centre of the action. This gives them a chance to place a new bet or change it during the event.

Moneyline

In sports such as football, there are a few goals scored that it does not make sense to offer a spread only. Instead, these types of sports offer a moneyline, whereby players place a wager on whether or not a team will win straight-up. Straight up is when a team loses or wins a sporting event. In this case, the point spread is not involved with the loser or winner.

Power Rating or Power Ranking

This means creating a ranking score for all teams so that a sportsbook, handicapper or bettor can be able to create a point spread. Many handicappers use point spreads when they want to compare with a bookmaker and find the best bets.

Stake

This is the collateral or money wagered on the results of a sporting event.

True Odds

These are the odds of an event taking place. In sports betting, this refers to the most accurate monyline or point spread.