Our Matched Betting Glossary explains all of the Terms and Phrases you are likely to come across whilst Matched Betting
Accumulator (Acca) – a bet comprising of several selections.
Ante-Post – a betting market that is available a long time before a sporting event starts. Ante-post betting is not usually used when matched betting. Ante-post betting on horse racing should be avoided by matched bettors, as if your horse becomes a non-runner you lose your stake.
Arbitrage Betting (Arb) – placing a bet where the back odds are higher than the lay odds to guarantee a profit.
Back Bet – a bet FOR an outcome to happen at a bookie or exchange, like betting for “Liverpool to win” is a back bet.
Best Odds Guaranteed (BOG) – When you take a price on a horse and the Starting Price is greater than the price taken, you will be paid out at the higher odds.
Betting Exchange – a platform that allows customers to place back and lay bets. Exchanges make money by charging a percentage on winning exchange bets.
Both Teams to Score (BTTS) – a betting market for whether both teams will score a goal in a match. “BTTS Yes” requires both teams to score any time in the match for the bet to win. Conversely, “BTTS No” requires neither or just one of the teams to score.
Commission – an amount paid to a betting exchange when your lay bet wins, although Matchbook charge commission on both winning and losing back and lay bet.
Dutching – betting on all possible outcomes for a given event. For example, backing the home team, the away team and a draw in a football match at different bookmakers. Use Trickybet 2-way ditching and Trickybet 3-way ditching to calculate your dutching stakes.
Each Way (EW) – backing the win part and the place part of a selection in the same bet.
Expected Value (EV) – the mathematical value of an offer over the long-term.
Fixed Odds Betting Terminal (FOBT) – a terminal located in betting shops that offers fixed odds sports betting. Also refers to betting shop machines that offer casino games and slots.
Free Bet – a free bet is awarded by the bookmaker for singing-up and placing a qualifying bet. We make our profit from free bets.
Gubbing – when a bookmaker bans you from free bets/bonuses/ promotions as you’re considered an unprofitable customer.
Half-Time/Full-Time (HT/FT) – a betting market for the result of both halves in a football match.
Lay Bet– a bet AGAINST an outcome to happen at a betting exchange.
Liability – the amount of money that you could lose on a lay bet, if you lay bet loses. You need not worry about this in matched betting as you match the lay bet with a back bet.
Match Odds – a betting market for the winner of a football match, expressed as Home/Draw/Away or 1×2 with 1 denoting the Home Team, x the Draw, and 2 the Away Team.
Non-Runner (NR)- when a horse is withdrawn from competing in a race of which it had previously been entered.
Qualifying Bet – an initial cash bet at a bookie that will qualify you for a free bet or bonus. Usually has a minimum odds requirement.
Palpable Error (PALP) – when a bookmaker cancels a bet as they have displayed the incorrect odds by mistake.
Reload Offers – offers for existing customers after completing initial sign-up bonuses, reload offers are used to maintain a regular matched betting profit.
Return to Player (RTP) – a casino term for the percentage of all wagered cash a casino game will return to punters over the long-term. In theory, if you bet 100 x £1 stakes on a game with a 96% RTP, you would expect to win £96 on average over time.
Rule 4 – Tattersalls rule 4 is actioned when a horse race contains a non-runner. The remaining horses in the market are subject to reductions in the odds depending on the odds of the non-runner horse. Rule 4 applies to back bets at bookies and also exchange bets, but the exchange lay is usually reduced more than bookie back bets, which is usually favourable for matched bettors.
Sharbing – the practice of arbitrage betting in betting shops.
Shubbed – When a betting shop marks you as an arber or sharp punter. You bets are monitored, bet stakes can be severely restricted (to SP only in severe cases), and betting shop staff may phone your bets through to the trading room for Permission to Lay (PTL).
Stake Not Returned (SNR) – Stake Not Returned free bet/bonus. A free bet bonus that does not return a stake if it wins.
Starting Price (SP) – Starting Price is the back odds of a horse when the race starts.
Stake Returned (SR) – Stake Returned free bet/bonus. A free bet/bonus that returns the stake with winnings. Often comes with a wagering requirement before the bonus can be released as withdrawable cash.
Underlay – with a normal matched bet you would have equal profit regardless of the result, underlying is laying just your back bet stake plus exchange commission. The idea is to increase your winnings if the back bet wins, or break even if the back bet loses.
Variance – a term for the spread of pay outs on casino games to a certain RTP e.g. lower variance gives regular and small wins, high variance games typically pay out larger wins less often.
Wagering Requirements - (WR) – How many times a bonus has to be turned over before the bonus converts to real withdrawable cash.