Knowledge Base
Glossary
Plain-English definitions for the terminology used across Pitch Notes.
- Accumulator
- a bet that links multiple selections together, similar to a parlay, with winnings rolled over from one selection to the next.
- Arbitrage
- the practice of placing bets on all possible outcomes of an event across different bookmakers to guarantee a profit.
- Asian Handicap
- a handicap system that eliminates the draw outcome and gives a fractional or whole goal advantage to the underdog.
- Bankroll
- the total amount of money a bettor sets aside for betting.
- Both Teams To Score
- a bet on whether each side will score at least one goal during the match.
- Cash Out
- a feature that lets a bettor 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 outcomes of a match (e.g., home win or draw), reducing risk.
- Draw No Bet
- a bet that refunds the stake if the match ends in a draw, leaving only a win for either team.
- Futures
- a bet placed on an event that will be decided in the future, such as which team will win the World Cup.
- Goal Line
- the line set by the bookmaker representing the total number of goals expected in a match, similar to an over/under.
- Half-Time/Full-Time
- a bet that predicts the result of a match at both half‑time and full‑time, such as a home win at half‑time and a draw at full‑time.
- Juice
- the commission charged by a bookmaker on a bet, usually built into the odds.
- Kelly Criterion
- a formula used to determine the optimal size of a bet based on the perceived edge and odds.
- Line Movement
- the change in odds or point spread over time as bookmakers adjust to betting action.
- Live Betting
- a bet placed after the match has started, with odds that update as the game progresses.
- Moneyline
- a bet on which team will win the match, with odds expressed as positive or negative numbers.
- Over/Under
- a bet on whether the total number of goals scored in a match will be higher or lower than a number set by the bookmaker.
- Parlay
- a single bet that combines two or more selections, all of which must win for the parlay to pay out.
- Props
- bets on specific events within a match that are not directly related to the final score, such as which player scores first.
- Public Money
- the amount of bets placed by the majority of bettors, often influencing line movement.
- Spread
- a point handicap set by the bookmaker to give each team an equal chance, requiring the favorite to win by a certain margin.
- Steam
- a rapid and significant shift in odds caused by heavy betting activity on a particular outcome.
- Unit
- a standardized bet size, often a small percentage of the bankroll, used to manage risk.
- Value Bet
- a wager where the odds offered are higher than the true probability of the outcome, giving an expected profit.