Knowledge Base
Glossary
Plain-English definitions for the terminology used across Fan Strategy.
- 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 that eliminates the draw option and gives a goal advantage or disadvantage to each team.
- Bankroll
- The total amount of money set aside for betting.
- Bet Slip
- The record on the sportsbook’s platform that lists the selections and the potential payout of a bet.
- Bookmaker
- A company that sets odds and accepts bets on sporting events.
- Both Teams To Score
- A bet on whether each side will score at least one goal during the match.
- Cash Out
- An option to settle a bet before the match ends, locking in a profit or reducing a loss.
- Correct Score
- A wager predicting the exact final score of a match.
- Double Chance
- A bet that covers two of the three possible outcomes (win, draw, loss) in a single wager.
- Draw No Bet
- A bet that returns your stake if the match ends in a draw; you win if your chosen team wins.
- Edge
- The statistical advantage a bettor believes they have over the sportsbook’s odds.
- Free Bet
- A no‑cost bet credited by the sportsbook that can be used to place a wager.
- Half-Time/Full-Time
- A bet that requires predicting the result at both half‑time and full‑time of the match.
- Hedge
- Betting on the opposite outcome of an earlier wager to secure a profit or limit a loss.
- Juice
- The commission a sportsbook includes in the odds, often called the vig, which ensures the book makes a profit.
- Kelly Criterion
- A method that tells you how much of your bankroll to wager based on your perceived advantage.
- Lay Betting
- Betting that an event will not happen, typically used on betting exchanges.
- Live Betting
- Placing bets on events while the match is in progress, with odds that change as the game unfolds.
- Moneyline
- A bet on which team will win the match, with odds shown as a positive or negative number.
- Odds Boost
- A promotional increase of the odds on a specific selection, offering a higher potential payout.
- Over/Under
- A bet on whether the total number of goals in a match will be more or less than a set figure.
- Spread
- A handicap applied to a team’s final score to create balanced odds for both sides.
- Stake
- The amount of money you risk on a bet.
- Unit
- A standardized portion of your bankroll used to measure the size of each bet.
- Value Bet
- A bet where the odds offered are higher than the true probability of the outcome, giving an expected profit.