Glossary of Sports Betting Terms

WelcomeOnlineBettingNZ.co.nz

welcomes all new and avid punters who want to learn a little

more about the terms used in sports betting.

In this glossary you’ll find an A-Z of all the most commonly used

sportsbetting terms.

A: Accumulator: In this bet a punter wagers on the

outcome of several races at once. Winnings from each race are then used to bet on the following race. 

Action: Any bet is deemed Action if its valid.  Also ran: Any selection that does not finish 1st, 2nd, 3rd

or 4th. Any to Come: (ATC) When all or part of returns from a

bet are reinvested automatically on a subsequent wager.  Arbitrage: A variation in odds allows a punter to back

both sides- guaranteeing a win.

B: Blind Bet: A bet made by a bookmaker to draw

attention away from bets on another horse, avoiding a shortening of odds.

Bookmaker: A person/company who takes bets. Also known as a bookie or when online, as a sports book. At OnlineBettingNZ.co.nz we recommend the best sport books for NZ punters.

Bottle: UK slang for Odds of 2:1  Buy Price: In Index or Spread betting the Buy price is

the higher figure quoted by the Index bookmaker.

C: Canadian: Multiple bet that consists of 26 separate

bets, also known as a Double Yankee.  Canadian Line: Also known as a Puck Line, a Canadian

line combines a Moneyline and Point spread.  Carpet: UK slang for Odds of 3:1 (also referred to as a

‘gimmel’ or ‘tres’)

Co-Favourites: When 3 or more competitors are the favourites. 

Cover: Beating (covering) the spread by the required number of points to win the bet.

D: Dead Heat: A tie between 2 or more competitors that

sees full odds paid at half-stake. Double: A bet that can be placed at many of the

OnlineBettingNZ.co.nz recommended sports books, a Double consists of 2 selections which must both win in order to payout. 

Doubling up: A betting system whereby after every loss a player doubles the size of their bet (based on the Martingale Betting System) 

Drift: If the odds on a competitor lengthen they are said to drift or be on the drift.

E: Each-Way: A 2 way bet that firstly predicts a

selection to win and secondly to place. Evens: Odds of 1:1(also known as ‘levels’ or ‘scotch’) Exacta: Placing the bet at a OnlineBettingNZ.co.nz

sports book can result in a huge payout. A punter must choose a winner and 2nd place horse on one pools ticket.

Exotic Wager: A Parlay, Teaser and Round Robin are examples of exotic wagers- those bets which are not straight bets.

F: Favourite: A competitor most likely to be the winner. Usually

has the lowest odds due to its immense popularity. Fold: A fold indicates the number of selections in an

accumulator bet.  Figure: The handicappers rating number that indicates

winning potential or the winning chance. Forecast: A bet that predicts the 1st and 2nd place for an

event. Form: Past results are studied to give an indication of

competitor’s performance. ‘Studying form’ is something avid punters are said to do when checking stats.

G: Goliath: A multiple bet that consists of 247 bets that

covers 8 sections in different events. A Goliath bet is so named due to its giant size.

Grand: Also known as a big one, this refers to any bet over NZ$1000. (Or a 1000 in any currency)

H: Handicap: A method used to make a very one-sided

event more appealing to punters. Teams are awarded points (also known as ‘line’ or ‘point spread’) based on their calibre, making the underdogs a more attractive betting proposition.

Hedging: Also known as a ‘lay off bet’ hedging bets are made by bookmakers that have accepted huge bets on a race to cut their losses if the horse proves to be a winner.

Heinz: A multiple bet that has 57 bets including 15 doubles, 20 trebles, 15 4 folds, 6 5 folds and 1 6 fold all involving 6 horses in varying races.

I: In the Money: Describes horses in a race

that have finished 1st, 2nd and 3rd, or the horses that placed and will see money paid out to punters for successful bets. 

J: Joint-Favourites: When a bookmaker is unable to

separate two competitors due to them both being favourites. At OnlineBettingNZ.co.nz endorsed sports books, betting on joint-favourites can bring about a very lucrative win.

Jolly: Slang term for the favourite horse or competitor.

K: Kite: UK slang for a cheque.

L: Long Odds: Odds offered that are unlikely to win but if they do,

could pay off well.

Lines: Pointspreads, handicaps and odds available to punters.

Longshot: The outsider or the least favourite/ underdog against whom odds have been made available.

  Lucky 15/31/63: Multiple bets that are placed on outcomes of

4, 5 or 6 different selections.

M: Martingale: A betting system that’s principle is based

on doubling up. At OnlineBettingNZ.co.nz we advise punters who have a bigger bankroll to try this method, whilst those on a budget to steer clear.

Morning Line: A forecast of the probable odds.  Mutuel Pool: The total amount bet to show, place or win

in a race. This term can also refer to the total amount bet on a quinella, exacta, double daily and other exotic bets.

N: Nap: The selection of strongest selections

recommended on any day. Rumoured to be named after Napoleon.

No Action: A bet that has become invalid due to an event not taking place or a certain cut off time not yet being reached.

O: Odds: The bookmakers view on a competitor’s chance of winning.

At OnlineBettingNZ.co.nz we only promote sports books that offer great odds.

Odds Against: When odds are greater than evens. For example 5:2 Odds On: Where odds are shorter than evens, for example 4:7. If

the bet wins the amount won is lower than the stake amount, but you receive your stake back too.

Off the Top: When the sports book or bookmaker takes a percentage off the pool before paying out winning tickets.

Overbroke: When the bookmaker loses money in a bet. Overlay: A horse that has high odds in comparison to its chances of

success.

P: Pari-Mutuel: Also known as pool betting, all bets are

pooled and winners are paid out according to the size of the pool.

Picks: Selections chosen by an expert, also referred to as ‘tips’. At OnlineBettingNZ.co.nz we tell you where to find the top picks. 

Place: A word used to describe a second place result. Pointspread: The head start given to an underdog or less

favourite competitor. Also refereed to as a handicap or line. Punter: The bettor or someone who has placed a bet.

Q: Quinella: A bet placed on which horses will

finish 1st and 2nd, regardless of the actual order.

R: Ringer: Taken from the term ‘a dead ringer’ a

ringer is a greyhound or horse that is entered under another’s name, often a good racer replacing a poorer one.

Roundabout: A bet that has 3 bets with 3 selections in 3 different events.

Round Robin: A bet that has 10 bets with 3 pairs of single stakes bets, 3 doubles and a single treble for 3.

S: Shortening Odds: When a bookmaker reduces odds due

to the number of bets taken. Single: A straight bet on 1 selection to win.  Stake: The amount a punter bets.  Spreads: A handicap. Spread Betting: A bet is calculated on a correct prediction

and returns or losses are in proportion to how close the bet outcome is. This can either lead to a big win or a big loss.

Sure thing: A bet that is almost 100% likely to be successful

T: Tips: Also known as Picks, tips are the experts opinion on

what bets are best. You can find plenty of tips at the sports books recommended by OnlineBettingNZ.co.nz. 

Tipster: The pro that provides the picks or tips. Treble: A bet with 3 selections, all of which must be

successful in order to payout.  Tricast: A bet where the 1st, 2nd and 3rd place must be

correctly predicted. Trifecta: Also known as a Triple, a Trifecta bet sees a

punter pick the first 3 finishers in the correct order.

U: Underdog: The team that’s given the head start

in a handicap as it’s considered to have a less likely chance of winning than the favourite.

  Under: A bet on the combined score of two

teams, which has a total, that’s under a set value.

V: Value: Getting the very best odds on any wager.

Vigorish: US slang for the bookmaker’s commission on a bet.

W: Welsh: To welsh on a bet means to fail to settle a

gambling debt.

Win: A term that describes a first place finish in any race or event.

Winning Margin: A bet that will see the punter predict the winning margin of one team over another.

X: X: Indicates a draw on a soccer betting

coupon.

Y: Yankee: A multiple bet that has 11 bets

consisting of 6 doubles, 4 trebles and 1 fold over 4 different sections in 4 events.

Z: Zebras: A slang term for referees, based on their

stripy jerseys.

Now that you have a better understanding of sports betting

terminology, you can select one of the sports books recommended by

OnlineBettingNZ.co.nz and start punting!