Betting Dictionary

dictionary iconOur Betting Dictionary has you covered for all your wagers, whether you are a complete newbie or a seasoned punter.  We don’t assume knowledge and provide answers to basic queries right up to more complex questions about sports betting.

Whether you simply want to understand what odds are, what evens means or what a stake is or you want to know what a round robin bet is or how expected value is calculated you can find the answers below.

Evens is a term for odds provided by bookmakers that implies a 50% chance of an outcome happening, in reality the true chances will be under 50% when you factor in the bookmakers profit margin but it roughly reflects a market where an outcome will occur around half of the time. If you place an bet at evens (1/1 or 2.0) you will win an equal amount to your stake plus your stake back.
Odds on is a term applied to any price offered by a bookmaker where you stand to win less than your stake amount. The phrase is also used colloquially to refer to anything that is seen as a probable result. Odds on means something is more likely to win that not but the odds offered will always factor in a margin so the real chances of winning are likely to be lower even if still over 50%.
A scorecast bet is a package of two bets within a single game, usually football but can be for any sport with goalscorers and correct score options. It is known as a related contingency (as the outcome of one bet affects the other) and is typically first goalscorer and correct score combined but can be anytime or last goalscorer too. Both bets must win to be paid out.
A settled bet is a bet where the sportsbook has determined the result of an event and deemed whether that wager was a winner or a loser. This usually occurs shortly after the result is known but can take longer in some instances. Settled bets are usually final and are paid out on the result at the time the market is closed, even if it changes later.
It is not uncommon for a horse to throw a jockey off its back, especially in jump races that are longer and incorporate hurdles and fences. This is known as unseating a rider and it can occur anytime from before the race starts to the finish line. Jockeys cannot remount a horse in the UK since 2009 unless the race has not started. If you bet without 'faller insurance' and a rider is unseated your bet will lose and you will not get your stake back.
To win both halves is a bet placed on team sports with two halves, usually football, that requires the team you back to win both the first and second half independently of each other. This requires a minimum of two goals, one in each half, assuming the other team doesn't score. It is different to half-time / full-time betting. The benefits are the market comes with much better odds than typical match result markets.
Wincast bets are related doubles that combine the a goalscorer market (first, last or anytime) with the match result. It is a related contingency, meaning the outcome of one bet affects the other and so odds are lower than a typical double. Own goals count for the match result but not the goalscorer markets. These bets have higher margins than comparable singles.