Betting & Casino Glossary

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Sports betting basics

Stake

The amount of money you risk on a single bet. If you place a €20 bet at odds 2.00, your stake is €20. Good bankroll management means keeping your stake small compared to your total bankroll, usually 0.5-2% per bet.

Decimal odds

The most common odds format in Europe and many online sportsbooks. Decimal odds show the total return for each unit staked, including the original stake. Example: odds 2.10 mean that a €10 stake returns €21 in total (€11 profit + €10 stake).

Fractional odds

Traditional UK odds format like 5/2 or 13/10. The fraction shows net profit relative to your stake. Odds 5/2 mean that a 2-unit stake wins 5 units profit (plus you get your 2 units back). Many online bookmakers let you switch between fractional and decimal display.

Implied probability

The probability suggested by the odds, before bookmaker margin. For decimal odds, implied probability = 1 / odds. Odds 2.50 imply 40% chance (1 / 2.50). If you think the true chance is higher than the implied probability, you may have a value bet.

1X2 / match result

The classic football market where you bet on home win (1), draw (X) or away win (2). 1X2 is also called “full time result” and is one of the most liquid markets at every bookmaker.

Moneyline

A two-way winner market popular in North American sports. You simply pick which team will win the game, with no draw option. In European football this is similar to a “draw no bet” line.

Double chance

A safer 1X2 market where you cover two outcomes with one bet, for example 1X (home or draw) or X2 (draw or away). The price is lower than a single outcome but your chance of winning is higher.

Draw no bet

A market where your stake is refunded if the match ends in a draw. You only win if your team wins, and you do not lose if the game finishes level.

Value bet

A bet where your estimated probability of an outcome is higher than the probability implied by the odds. For example, if the book offers 2.20 (45.5% implied) but you believe the true chance is around 52%, the bet has positive expected value in the long run.

Handicap

A market where one team starts with a virtual advantage or disadvantage. In European handicap -1, the favourite must win by at least 2 goals for your bet to win. Handicaps are used to balance matches where teams are not evenly matched.

Asian handicap

A handicap system that removes the draw option and often allows half-win or half-loss outcomes (e.g. -0.25, +0.75). Asian handicaps are popular with sharp bettors because they offer efficient markets and smaller bookmaker margins on major leagues.

Over/Under

A totals market where you bet whether a statistic will finish above or below a set line, for example over 2.5 goals or under 10.5 corners. Half lines like 2.5 mean there is no possibility of a push or refund.

Live betting (in-play)

Betting after an event has started, with odds updating in real time. Live markets allow you to react to red cards, injuries or momentum swings, but also make it easier to tilt and overbet if you are not disciplined.

Cash out

A feature that lets you settle a bet before the event is finished. The cash out value reflects current live odds and usually includes an extra margin for the bookmaker, so frequent cashing out can reduce your long-term value.

Bookmaker margin

The hidden commission built into odds. If the total of implied probabilities in a market adds up to more than 100%, the excess is the bookmaker margin. Lower margins are better for serious bettors.

Accumulator (ACCA)

A multiple bet that combines two or more selections into one ticket. All legs must win for the accumulator to pay out. Accas offer high potential returns but also a higher risk of losing your entire stake due to one leg failing.

Bankroll

The total amount of money you have set aside exclusively for betting. Solid bankroll management protects you from going broke during downswings and helps keep gambling within healthy limits.

Casino & slots basics

RTP (Return to Player)

The long-term percentage of stakes that a casino game is expected to return to players. A slot with 96% RTP will, in theory, pay back €96 for every €100 wagered over a huge number of spins. RTP does not guarantee any result in a single session.

House edge

The built-in mathematical advantage of the casino over the player. It is simply 100% − RTP. If a game has 96% RTP, the house edge is 4%. The higher the house edge, the more you are expected to lose over time.

Paylines

The lines across the reels where matching symbols must land to create a win. Modern slots can have fixed paylines, adjustable paylines or “ways to win” systems instead of traditional lines.

Jackpot

A large top prize that is either fixed or progressive. Progressive jackpots grow with every spin until a lucky player wins the full amount, often reaching six or seven figures.

Megaways

A popular slot engine where the number of symbols on each reel changes with every spin, creating thousands of possible ways to win. Megaways slots are usually high volatility with exciting bonus rounds.

Maximum win

The maximum amount a slot can pay in a single spin, often expressed as X times your stake (for example 5,000x or 50,000x). Some casinos may also cap the maximum win per bet in their terms.

Wagering requirement

A condition attached to casino bonuses that forces you to bet a certain multiple of your bonus, deposit or both before you can withdraw. Example: 35× bonus+deposit on €100 bonus and €100 deposit means €7,000 total turnover required.

Rollover

Another word for wagering requirement. Some sportsbooks use “rollover” instead of “wagering”. The important part is always what the multiple applies to: bonus only, deposit only or both together.

Free spins

A casino promotion that gives you a fixed number of spins on selected slots. Winnings from free spins may be capped and often come with separate wagering requirements, so always check the terms before playing.

No-deposit bonus

A small bonus credited to your account just for registering, without any deposit needed. These offers usually have strict wagering, low maximum cashout and limited eligible games, but they are a risk-free way to test a casino.

Volatility (variance)

A measure of how swingy a game is. High-volatility slots can produce long dry spells and then big wins, while low-volatility games pay smaller wins more frequently. RTP can be the same, but the experience and risk profile are very different.

Bonuses, promos & edges

Bonus abuse

Using bonus offers in ways that clearly break the terms: multi-accounting, playing excluded games, betting above the allowed stake or exploiting technical loopholes. Bonus abuse can lead to confiscated winnings and closed accounts.

Arbitrage (arb)

A betting situation where different bookmakers offer odds that let you cover all outcomes and lock in a guaranteed profit. In simple two-way markets, an arb exists when 1/oddsA + 1/oddsB < 1. Many operators limit or close successful arbers.

Surebet

Another name for an arbitrage opportunity. A surebet means that, if you split your total stake correctly across all outcomes, you will end with a profit regardless of the result of the match or event.

Odds boost

A promotion where the bookmaker increases the odds on a selected market or accumulator. Boosts can offer real value, but often come with reduced maximum stake or restrictions on eligible markets.

Cashback

A promotion that returns a percentage of your net losses over a period (for example 10% weekly cashback). Some cashback deals are wager-free, while others may still carry wagering requirements.

Reload bonus

A bonus offered on subsequent deposits after the welcome offer. Reloads can keep the value of an account high over time but always check the wagering multiple and the maximum bet allowed while wagering.

Loyalty program

A points-based system that rewards regular play with bonuses, free bets, free spins or other perks. Always check the cashback rate and the wagering rules attached to loyalty rewards.

VIP program

An invitation-only tier of the loyalty program aimed at high-volume players. VIPs can receive higher limits, personalised offers and faster withdrawals, but also face a higher risk of overspending.

Strategy & risk management

Flat staking

A simple bankroll strategy where you always stake the same amount or the same small percentage of your bankroll on every bet. Flat staking helps control emotions and protects beginners from chasing losses with oversized bets.

Kelly criterion

A staking formula used by advanced bettors to maximise long-term growth when they have an edge. Kelly uses your estimated probability and the odds to calculate an optimal fraction of your bankroll to stake. Many players use “half Kelly” or “quarter Kelly” to reduce volatility.

Line shopping

The practice of comparing odds and lines between different bookmakers and always taking the best price available. Consistent line shopping can significantly increase your expected value without changing your underlying predictions.

Closing line

The final set of odds offered just before an event starts. Beating the closing line (regularly getting better odds than the market closes at) is often seen as a strong indicator that your betting strategy has a real edge.

Hedging

Placing extra bets on the opposite side of an existing position to reduce risk or lock in profit. Hedging can be done manually across different bookmakers or by using cash out.

Tilt

An emotional state where you play irrationally after a bad beat or losing streak. Tilt often leads to chasing losses, ignoring staking plans and making poor decisions.

Sample size

The number of bets or spins you have recorded. Small sample sizes can be heavily influenced by variance, so you should not draw strong conclusions from just a handful of results.

Record keeping

The habit of tracking your bets, stakes, odds and results in a spreadsheet or app. Good records let you analyse performance, spot leaks and check whether you are actually beating the closing line.