Knowledge Base
Glossary
Plain-English definitions for the terminology used across Pitch Notes.
- Arbitrage
- Placing bets on all possible outcomes of an event across different bookmakers to guarantee a profit regardless of the result.
- Asian Handicap
- A spread bet that eliminates the draw by using half- or quarter-goal handicaps, reducing the chance of a push.
- Bankroll Management
- The practice of deciding how much of your total betting funds to risk on each wager to avoid losing everything quickly.
- Bet Slip
- The digital record of your selected wagers, showing the potential payout and allowing you to confirm the bet.
- Bookmaker
- A company that sets the odds and accepts bets on sporting events.
- Both Teams To Score (BTTS)
- A wager on whether each team will score at least one goal during the match.
- Cash Out
- A feature that lets you settle a bet before the match ends, locking in a profit or limiting a loss.
- Correct Score
- A bet predicting the exact final score of a match.
- Double Chance
- A bet that covers two of the three possible match outcomes (win, draw, loss), increasing your chance of winning.
- Draw No Bet
- A bet where you pick a team to win; if the match ends in a draw, your stake is refunded.
- Edge
- The perceived advantage a bettor has over the bookmaker's odds, often calculated from analysis or data.
- First Goal Scorer
- A prop bet on which player will score the first goal in the match.
- Futures Bet
- A bet placed on an event that will be decided in the future, like which team will win the World Cup.
- Hedge
- Betting on the opposite outcome of an earlier bet to reduce risk or lock in a guaranteed profit.
- Juice (Vig)
- The commission built into the odds by the bookmaker, ensuring the house makes a profit on every bet.
- Live Betting
- Placing a bet on a match while it is in progress, with odds that update as the game unfolds.
- Moneyline
- A bet on which team will win the match outright, with no point spread involved.
- Over/Under
- A bet on whether the total number of goals scored will be higher or lower than a set number.
- Parlay
- A single bet that links two or more selections; all must win for the parlay to pay out, offering higher odds.
- Payout
- The total amount you receive when a bet wins, including the original stake and profit.
- Point Spread
- A handicap given to the favorite team to level the odds; you bet on whether the favorite will win by more than the spread or the underdog will stay within it.
- Prop Bet
- A wager on a specific event inside a match that does not affect the final result, such as which player scores first.
- Stake
- The amount of money you place on a bet.
- Value Bet
- A bet where the odds offered are higher than the true probability of the outcome, giving you a statistical edge.