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Blog     28 Jun 2018

Free Matched Betting Glossary - Profit Squirrel #1 To Learn Matched Betting

Profit Squirrel's matched betting glossary helps you to define some of the common terms and abbreviations you are likely to encounter, particularly in the member's forum.

Acca (Accumulator) - Also known as a multiple or a combination bet, this is a bet that is placed on two or more selections with the bookmaker in the same bet slip. There are two types of accumulator bets. Straight-line accumulators require every selection on the bet to be settled as a winner in order for the bet to win. Permutation bets (Such as Trixie or Lucky 15), are a combination of bets, where rather than placing just one bet on all of your selections, a number of smaller bets are placed. You won't need ever use permutation bets in matched betting, but it's good to know what it is.

AP (Antepost) - This is a horse racing market that appears long before a race is due to start. Antepost markets/prices usually disappear 1-2 days before the race. You should avoid betting on these markets, as if your horse is withdrawn before the race, your bet will be settled as a loss. Also, most daily horse racing offers exclude antepost bets.

Arb (Arbitrage/Arbing) - A risk-free way to make profits with no free bets involved! This usually occurs when the bookmaker back odds are higher than the exchange lay odds.

BOG (Best Odds Guaranteed) - A promotion that is offered by various bookmakers, usually on Horse Racing and Greyhound Racing. If the odds that you place your bet at are lower then the SP (Starting Price), then your bet will be settled at the SP odds.

Both Teams To Score (BTTS) - A betting market that involves betting on whether or not both teams will score a goal during any football event. For example, in the match Liverpool v Man City, if you bet on "Both Teams To Score - Yes", both teams would be required to score a goal at any point during the event in order for the back bet to win. Alternatively, if you bet on "Both Teams To Score - No", you would require neither team or just one team to score a goal during the match in order for the bet to win.

Each Way - An bet that is offered by bookmakers consisting of two separate bets: a win bet and a place bet. For the win part of the bet to give a return, the selection must win, or finish first, in the event. For the place part of the bet to give a return, the selection must either win or finish in one of the predetermined places for the event, such as first place or second place. Learn how we make risk-free profits without requiring free bets by completing our Each Way guide here.

Estimated Value (EV) - The mathematically calculated value for an offer.

Learn how we calculate expected value by watching this short video on the Profit Squirrel's YouTube Channel.

Half-Time/Full-Time (HT/FT) - A betting market that involves betting on the result of each half of a football match. For example, in the match Arsenal vs Man City, you might bet on Arsenal / Arsenal, which would mean a bet that Arsenal would win the first half, and the full match. Or, you could bet on Man City / Draw, which would be a bet for Man City to win the first half, but for the game to end in a draw. 

Learn more about the different matched betting markets in the following video here.

Match Odds - A betting market that involves betting on the winner of a football match (the most common type of bet). Another name for "Winner". This can sometimes be written as Home / Draw / Away or 1x2. For example, in an Arsenal vs Man City match, a bookie might display 1 x 2, where 1 represents Arsenal, and 2 represents Man City. Same applies to Home / Draw / Away based on the order its written.

Over / Under - A betting market that involves betting on the number of goals in a football match. For example, you might bet on "Over 2.5 goals", which would be betting that there would be 3 or more goals. Be careful not to get mixed up between Over and Under when placing your lay, and also avoid getting mixed up between "Over 2.0" and "Over 2.5", as they are different bets!

Palp (Palpable Error) - If a bookie displays odds that are significantly incorrect, they can claim it is a palpable error and void any bets placed at that price. For example a bookmaker offers odds of 15.0 for Liverpool to win when every otherbookmakers are offering odds of around 1.5. It's clearly a mistake.

Return To Player (RTP) - A common term that casinos/bookmakers use to describe the percentage of all the wagered money that casino games and slots will pay back to players over time. For example, if you make one £200 worth of bets on a slot, which has a RTP% of 95%, you could expect to get back about £190 in winnings. RTP is normally calculated over the long term, as opposed to the short term.

Rule 4 Deduction - This rule occurs when a horse is withdrawn from a particular race. The odds of your bet may be lowered to reflect the reduced competition. Your back bet odds may be reduced, and your lay liability will also be reduced in proportion automatically. This won't usually leave you in a losing position, as typically the lay liability is reduced more than the back odds.

Sharbing - The same as Arbitrage, but the back bet is placed using in a betting shop rather than online. This can be very lucrative!
See this guide to learn how to make money with Sharbing

SNR - Stake Not Returned. This usually applies to free bets. It means the free bet stake is not included with the winnings. We use this setting in the calculator for any free bets that are SnR. It can also be used to lock-in a profit on bets where you only get a refund if your bet loses.
Learn how we make guaranteed profits with matched betting when Free Bet Stakes are not returned

SP (Starting Price) - This generally applies to Horse & Greyhound Racing. It is simply, the final odds at the start of a race.

SR - Stake Returned. This applies to normal bets, or certain bonus types. It means your initial stake is returned along with your bet winnings.

WR (Wagering Requirement / Rollover) - Some bonuses have wagering requirements attached. For example, a £10 casino bonus might have a 5x wagering requirement. This would mean you need to play through a total of £50 worth of bets before the bonus itself can be withdrawn. Note, this does not necessarily mean you need to deposit or risk £50 to do this, as you would use any winnings to continue the wagering.
Learn and discuss wagering in our private forum here

If you have any suggested additions to the matched betting glossary, please contact us.


Free Guide: Learn Matched Betting Fast

 

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Bobby Formella

Bobby Formella

Community support member

I dedicate my spare time to making Matches so I can spoil my 3 little angels. A teacher from Merseyside, love cooking and reading. Liverpool's #1 fan!

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