Knowledge Base
Glossary
Plain-English definitions for the terminology used across Pitch Notes.
- 1X2
- A betting market where you predict whether the match ends in a home win (1), draw (X), or away win (2).
- Accumulator
- A single bet that links multiple selections; all must win for the bet to pay out, increasing potential returns.
- Arbitrage
- A strategy that exploits differences in odds across bookmakers to guarantee a profit regardless of the outcome.
- Asian Handicap
- A handicap given to a team to level the playing field, eliminating the draw option and offering more balanced odds.
- Back Betting
- Betting that an event will happen, the most common type of wager placed with a bookmaker.
- Bankroll
- The total amount of money set aside for betting, used to manage stakes and risk.
- Bookmaker
- A company that sets odds and accepts bets on sporting events.
- Both Teams To Score (BTTS)
- A wager that predicts whether each side will score at least one goal during the match.
- Cash Out
- A feature allowing you to settle a bet before the event ends, locking in a profit or limiting a loss.
- Double Chance
- A bet that covers two of the three possible match outcomes (e.g., home win or draw) in a single wager.
- Edge
- The perceived advantage a bettor has over the bookmaker’s odds in a specific market.
- First Goalscorer
- A bet on which player will score the first goal in a match.
- Goal Line
- The line set by the bookmaker representing the total number of goals expected in a match; similar to Over/Under but often used for soccer.
- Hedge
- Placing a bet on the opposite outcome of an existing bet to reduce risk or secure a profit.
- In-Play
- Synonym for live betting; refers to markets available during the game.
- Juice (Vig)
- The commission or fee a bookmaker charges on a bet, built into the odds.
- KYC (Know Your Customer)
- The process of verifying a bettor’s identity and age to comply with legal and responsible gambling regulations.
- Lay Betting
- Betting that an event will not happen, typically used in exchange betting where you act as the bookmaker.
- Live Betting
- Placing bets on a match while it is in progress, with odds that update in real time.
- Margin
- The bookmaker’s built-in profit margin, expressed as a percentage, which ensures they profit over the long term.
- Odds
- The numerical expression of how likely an outcome is, used to calculate potential payout from a bet.
- Over/Under
- A bet on whether the total number of goals (or points) in a match will be higher or lower than a set line.
- Parlay
- Another term for an accumulator, combining two or more picks into one bet with multiplied odds.
- Stake
- The amount of money you wager on a particular bet.
- Value Bet
- A bet where the odds offered are higher than the true probability of the outcome, giving an expected positive return.