Key Betting Terms - BetBlazer's Glossary

You’re going to come across many terms within the betting world, some of which you’ll be familiar with already but others you wouldn’t come across before. This guide sheds light on all the essentials, from an Asian Handicap to a Yankee!


BetBlazer's Key Betting Terms

Betting has exploded in recent years with a wide range of markets available for almost every sport imaginable. The choice of betting options is fantastic of course, but you need to understand certain terms attached to specific games and markets before you go all in.

A lot of the terms are fairly self-explanatory and have formed the basics of betting since the very beginning. However, the evolution of the betting industry means there are new terms popping up all the time with some a little more complex and in need of some explaining. Let’s get down to it...

Betting Terms


The accumulator, or ‘acca’ as it’s come to be known, is a very popular form of betting, especially in football. This bet allows you to combine four or more single bets, as one bet in itself. Punters will select one potential outcome from the three possible available (home win, draw, away Win) and add their choice to their accumulator. Naturally, the more bet added to the list, the longer the odds and potential winnings become. To win an accumulator, all legs of your bet (or outcomes picked) must be correct, otherwise the bet will not pay out.

Arbitrage betting

‘Arbing’ as it’s also known, is the process whereby gamblers look to make a profit on an event by betting on all possible outcomes. Bettors search for varying odds from different bookmakers and by calculating the correct stake to make sure losses are covered by the winnings, a consistent profit can be guaranteed.

Asian handicap

Originating from the Far East (as the name may suggest) and most commonly used in football, this system allows for a match to be levelled up with the use of handicaps. The market allows for greater value to be found in a match that has an overwhelming favourite.


A selection highly fancied to win and commonly used across all sports.

Betting Exchange

A betting site that matches backers (those betting on odds) with layers (those betting against the odds) taking a commission on winning bets.


The organization that provides odds on the outcome of events, commonly referred to as a bookie.

Double bet

One bet consisting of two selections. Odds are combined for a potentially higher payout on the condition both picks come true.

Each-way bet

A type of bet commonly used in horse and greyhound racing that includes two bets; one on the winner and one on the placing of the selections e.g, 2nd and 3rd.

Evens bet

A bet which returns double the stake placed, eg, £5 placed on evens (displayed as 1/1 or 2.00) will return £10 if outcome is correct.

In-play betting

A bet placed during a live event allowing for bets reflective of what’s happening in real time.

Match Odds

Often heard when betting on football, these are the odds given on each outcome, i.e home win, draw, away win

Outright bet

Usually a favoured market prior to a competition starting. Here, you’re making a bet on the overall winner.

Treble bets

A bet consisting of three selections all of which must come true if you’re to win.


A common term used across all sports, the underdog is the less fancied team or competitor in an event according to the bookmaker.

Void bet

If a bet becomes void, your stake is returned and the bet is off. There a number of reasons for this happening so it’s best to check the terms and conditions of your bookmaker before placing your bet.


A bet that consists of 11 bets, involving 4 selections in different events. The bet comprises of 6 doubles, 4 trebles and an accumulator with 2 of these needing to be successful for a win.