Knowledge Base
Glossary
Plain-English definitions for the terminology used across Pitch Notes.
- Accumulator
- A bet that combines multiple selections; all must win for the bet to pay out.
- Asian Handicap
- A spread betting system that gives a virtual advantage/disadvantage to teams to level the odds.
- Bankroll
- The total amount of money a bettor sets aside for betting.
- Bet Builder
- A feature allowing you to combine multiple markets from a single match into one wager.
- Cash Out
- Option to settle a bet before the event ends, locking in a profit or limiting loss.
- Double Chance
- A bet that covers two of the three possible outcomes (win/draw/win) in a match.
- Draw No Bet
- A market where you pick a team to win; if the match ends in a draw, the stake is refunded.
- Edge
- An advantage a bettor believes they have over the bookmaker’s odds.
- Expected Goals (xG)
- A metric that estimates how many goals a team or player is likely to score based on shot quality.
- Free Bet
- A promotional credit that can be used to place a bet; any winnings are usually withdrawable, not the free bet stake.
- Half-Time/Full-Time
- A market where you predict both the half-time result and the final result of a match.
- In-Play (Live Betting)
- Placing bets on a match while it is ongoing.
- Kelly Criterion
- A formula used to determine the optimal size of a bet based on perceived edge and odds.
- Live Odds
- Updated odds that change during a match in response to events.
- Match Result (1X2)
- The simplest market: predict whether the home team wins (1), a draw (X), or the away team wins (2).
- Odds
- The numerical representation of the likelihood of an outcome, also showing the potential payout.
- Over/Under
- A market betting on whether the total number of goals (or points) will be above or below a set line.
- Parlay
- Another term for an accumulator; a single bet linking multiple selections.
- Profit Margin (Juice)
- The commission the bookmaker takes, reflected in the odds.
- Stake
- The amount of money wagered on a bet.
- Surebet (Arbitrage)
- A situation where you bet on all possible outcomes with different bookmakers to guarantee a profit.
- Terms & Conditions
- The rules and restrictions that govern a bonus or promotion.
- Value Bet
- A bet where the odds offered are higher than the true probability of the outcome, giving an expected positive return.
- Void Bet
- A bet that is canceled and the stake is returned, usually due to a match being postponed or a rule breach.
- Wagering Requirement
- A condition that you must bet a certain amount before bonus funds can be withdrawn.