Just like every other discipline or ventures betting has its terms and terminologies otherwise known as jargons. One needs to be well versed in this term to succeed as most of the betting sites make use of them. Although it may vary among countries and regions the common ones include the following;
Bet; A bet is the staking of odds hoping to win
Odds; is the ratio between playing teams, some teams have higher odds than others due to many reasons such as the popularity of the team, whether its home-based or away, numbers of wins with the opponent and position on the league table.
Staker; it could also refer A person who places a bet for future predictions also known to as a bettor or better
Banker; This term is generally used by staker to express that the bet is a sure win.
Draws; The likelihood that the game will end with or without the same number of goals is known as draws. This is one of the highest winning amounts when predicted correctly, however, the chance is very slim.
Betting Exchange; Similar to the stock market, however, bets are being traded instead of shares, in otherwise a market where bets are traded.
Arbitrage Betting; Is a form of betting whereby the better decide to place a bet on different bookmakers. This type will ensure the staker does not lose out. For instance, he can place a bet that team A will win team B in one bookmaker and vice versa in another bookmaker.
Fixed odds; A bet placed on pre-determined odds, in this case, you are sure of winning pre-determined amount irrespective of the outcome of the game, however, be very skilled to achieve this.
Juice; is the term used in betting as the commission bookmakers realize from bet losers, it is also called “vigorish” or “the take”.
Draw-no-bet; This implies that in the event the bet backed by the bettor wins, one wins, if the game draws one is refunded and losses if the team he backed losses
Closing Line; it is the line or time the bookmaker set before it stops accepting odds from stakers, this depends on makers as some sets their closing line before the game begins, while others do so when it’s well past halftime of the game.
Asian handicap; As the name implies, it got its origin from the Asian continent, this is when the possibility of the odd draw in the game is ruled out, either way, a win must occur.
European handicaps; This strategy differs greatly from the Asian handicap, what this jargon implies is that one of the team is given an advantage over the other team before the match begins. Here, there is the possibility of three outcomes home win, draw or away win. No refund is made.
Betting terms are so many these are, however the few ones and can serve for a good start if you intend to delve into the world of football betting.
