Knowledge Base
Glossary
Plain-English definitions for the terminology used across Fan Strategy.
- Accumulator
- An accumulator combines multiple selections into a single bet; all selections must win for the bet to pay out.
- Arbitrage
- Arbitrage involves betting on all possible outcomes of an event across different sportsbooks to guarantee a profit.
- Bankroll
- Your bankroll is the total amount of money set aside for betting, used to manage risk and sizing.
- Bet Builder
- Bet Builder is a tool that lets you create custom bets by combining different markets from a single match.
- Bet Settlement
- Bet settlement is the process of finalizing bets after an event, determining whether bets win or lose and adjusting balances.
- Cash Out
- Cash Out lets you settle a bet before the event ends, locking in a profit or limiting a loss based on current odds.
- Decimal Odds
- Decimal odds show the total payout per unit staked, including the original stake, for a winning bet.
- Fractional Odds
- Fractional odds indicate the profit relative to the stake; a 5/1 odds mean you win five units for each unit wagered.
- Free Bet
- A free bet is a promotional credit you can use to place a wager; any winnings are usually returned without the stake.
- Handicap
- Handicap betting gives one team a fictional advantage or disadvantage to level the playing field and adjust odds.
- In-Play Betting
- In-Play betting allows you to place wagers on a match while it is already in progress, with odds that update live.
- Juice
- Juice, also called vigorish, is the commission a sportsbook takes on a bet, reflected in the odds.
- Moneyline
- Moneyline odds express the amount you must bet to win a set profit, with positive and negative numbers for underdogs and favorites.
- Odds
- Odds represent the likelihood of a specific outcome and determine how much you can win relative to your stake.
- Over/Under
- Over/Under betting asks whether the total combined score will be higher or lower than a number set by the sportsbook.
- Overround
- Overround is the total probability percentage built into odds that exceeds 100%, representing the book’s margin.
- Parlay
- A parlay links two or more bets together, requiring each to win to generate a larger combined payout.
- Point Spread
- Point spread betting assigns a margin of points that the favored team must exceed for a bet on them to win.
- Push
- A push happens when a bet ends in a tie, resulting in the stake being returned to the bettor.
- Stake
- The stake is the amount of money you risk on a bet, which determines your potential winnings.
- Unit
- A unit is a standard measurement of bet size, typically representing a small percentage of your bankroll.
- Value Bet
- A value bet occurs when the odds offered by a sportsbook are higher than the true probability of the outcome.
- Void Bet
- A void bet cancels the wager and refunds the stake, usually due to a match being postponed or a rule violation.
- Wagering Requirement
- A wagering requirement specifies how many times you must bet a bonus amount before you can withdraw any winnings.
- Welcome Bonus
- A welcome bonus gives new customers extra funds or free bets after making their first deposit or bet.