Knowledge Base
Glossary
Plain-English definitions for the terminology used across Pitch Notes.
- Accumulator
- A bet that links several selections; winnings from each winning leg roll over into the next.
- Arbitrage Betting
- Betting on all possible outcomes of an event across different bookmakers to guarantee a profit regardless of result.
- Asian Handicap
- A handicap given to each team to level the match, often using half‑goal increments to avoid ties.
- Bankroll Management
- The strategy of deciding how much money to risk on each bet so you don’t run out of funds too quickly.
- Cash Out
- An option to settle your bet before the event ends, letting you lock in a profit or cut a loss.
- Decimal Odds
- Odds expressed as a single number that includes your stake; multiply your bet by this number to see total payout.
- Edge
- Your perceived advantage over the bookmaker, often based on information or analysis that suggests a bet is undervalued.
- Fractional Odds
- Odds shown as a fraction; the numerator tells you how much profit you’ll make for each unit of your stake.
- Free Bet
- A bet credit you can use without risking your own money; any winnings are usually paid as cash.
- Futures Bet
- A bet placed on an outcome that will be decided later, like which team wins the World Cup.
- Hedge
- Placing a bet on the opposite outcome to reduce risk or guarantee a profit after an initial wager.
- In-Play Betting
- Placing a bet on a match while it is happening, with odds that change as the game progresses.
- Kelly Criterion
- A formula that calculates the optimal percentage of your bankroll to bet based on your edge and the odds.
- Moneyline
- A simple bet on which team will win the match, with odds reflecting each team’s chance of winning.
- Over/Under
- A bet on whether the total points scored in a match will be higher or lower than a set number.
- Parlay
- A single bet that combines two or more selections; all must win for you to receive a payout.
- Point Spread
- The number of points a team is expected to win or lose by; you bet on whether they exceed that margin.
- Prop Bet
- A wager on a specific event inside the game, such as which player scores the first goal.
- Risk-Free Bet
- If your bet loses, the stake is refunded, often as a free bet, so you don’t lose the initial amount.
- Stake
- The amount of money you put on a bet.
- Unit
- A standard bet size, usually a small percentage of your bankroll, used to track how much you’re wagering.
- Value Bet
- A bet where the odds offered are higher than the true probability of the outcome, giving you an edge.
- Vigorish
- The commission a bookmaker builds into the odds, ensuring they make a profit over time.
- Wagering Requirement
- The amount you must bet before you can withdraw any bonus winnings from a promotional offer.