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bet on a combination of several results all happening.
alternative to traditional bookmakers. A betting exchange
matches people wanting to lay a bet with people wanting
to back it, giving the public the opportunity to act
as the bookmaker. The most popular of these sites is
bet on two selections. A accumulator of just two results.
bet on your selection being place (ie. finishing near
the top). For example, an each way bet on a 12/1 selection
where the each way terms are 1/3rd the odds for top
4 finish would be one bet on the win at 12/1 and one
bet on a top 4 finish at 4/1.
Effectively 1/1 odds.
If you bet £10, a winning bet will return £20,
(£10 winnings + your stake of £10). These
odds should indicate that the event has a 50%
chance of occurring.
most likely to win and the shortest price.
the number of selections in an accumulator bet. For
example, a six fold would be an accumulator bet consisting
of six selections.
Odds are displayed in
a number of ways - fractional is the standard method
in the UK. As you would imagine, it is displayed as
a fraction (such as 2/1) with the first number being
the winnings and the second being the stake neccessary
to get those winnings.
with 2/1 if you stake £10, you would win £20,
as well as having your £10 returned (leaving you
with a final balance of £30.
2/5 if you stake £50, you would win £20,
as well as having your £50 returned (leaving you
with a final balance of £70.
bet against your original selection. For example, you
bet on Arsenal to win the FA cup at 8/1. They reach
the final and their price is now 1/2, by betting on
their opponents in the final you will be guaranteed
a win whatever the final result. This is known as hedging
a bet is backing that selection to fail to win. For
example laying Man Utd to win the premiership means
people back them at your odds. If they fail to win you
keep their stake, if they do win you will have to pay
out on that bet. This is usually the role of the bookmaker.
Means that the odds
offered are less than evens (1/1) - it should indicate
the event has a higher than 50% chance of occurring.
In fractional odds, the second number will be higher
than the first number, e.g. 1/2 or 2/7. This can also
be written as 7/2 on.
participant in an event with a very small chance of
winning. This will be reflected in an outsider’s
‘placed’ means coming 2nd, 3rd, 4th, etc
depending on the number of participants in an event.
bet on just one result.
stake is the amount of money you are betting on a particular
result. It’s the amount paid to the bookmaker
and if the result is not what predicted, it is lost.
The stake is returned on a winning bet.
bet on three selections, an accumulator of three results.
that the result will be higher than the quote. This
bet is placed at the highest quoted figure. Eg if the
quote is 30-32, the buy is at 32.
you place a second bet of the same amount on the opposite
outcome, resulting in a guaranteed profit / loss whatever
the final result.
prices change during a match or event to reflect the
latest state of play.
constructed around the awarding of points for performance
or progress in an event.
or Short term Market
length of time an event lasts. A bet on season points
for a football team is a long term market as the final
result won’t be know until the end of the season
while a supremacy bet is short term market.
make up is the final result at which the bet is closed.
The difference between the make up and the price at
which you placed you bet will produce your profit/loss
(when multiplied by your stake)
bet on which of two participants will perform best,
regardless of how they do overall in the event, or the
performance of other participants in the same event.
For example a match bet between two golfers.
bets have maximum make up. This is the maximum amount
allowed for the final result. For example, say there
was a spread of 120-124 and a maximum make up of 200.
Even if the final result was 240, the 200 figure would
be used to calculate your profit / loss. This will limit
potential profits / losses on the event.
that the result will be less than the quote. This bet
is placed at the lowest quote figure. Eg. If the quote
is 30-32, the sell is at 30.
difference between the high (buy) and low (sell) prices
amount per point, per goal, per run etc. You choose
the stake when placing the bet.
specific level at which some bets are closed to prevent
open-ended loss or profit.
expected margin of victory.
volatility indicates a market with a high number of
points involved e.g. runs in a cricket match. While
a low scoring sport, such as goals in a football match,
will be low volatility. The more volatile the market,
the larger the potential profit and loss will be relative
to the stake.
there is no favourite and the price is equal for both
outcomes you are invited to nominate the favourite when
placing your bet.