So you’re a beginner at sports betting, and you decided to get a bit deeper into this hobby? But then you started checking out more complex bets in online sportsbooks and you’re puzzled: what do all betting slang terms mean?
Well, sports betting is complex. But that’s no reason to stick to the basics. If you explore sports betting terms and meaning in depth, you’ll unlock a whole new potential for having fun and winning money on the way.
The Legal Side of Sports Betting in the UK: Is Everything Allowed?
In the UK, sports betting is legal and well-regulated. The primary legislation governing sports betting is the Gambling Act 2005, which was further supplemented by the Gambling Act 2014. The Gambling Commission oversees the regulation of all sports betting activities. It ensures the standards of fairness, safety, and transparency. The UKGC also offers support to individuals who want to manage their online gambling habits. The National Online Self-Exclusion Scheme (NOSES)introduced GamStop, a free self-exclusion service.
When bettors sign up for GamStop, they voluntarily exclude themselves from all online gambling sites licensed in the UK for a period they choose (6 months, 1 year, or 5 years). Once registered, they are blocked from accessing and creating new accounts on all UK sportsbooks. In that case, UK sports betting sites not on GamStop are still accessible. They are also attractive for offering more types of bets and a larger selection of sports than UKGC-licensed sites.
In the UK, a wide variety of bets are allowed, including:
- Singe bets
- Accumulator bets
- In-play betting
- Proposition bets
- Exchange bets
- Spread bets
Let’s explore some complex sports betting terms to know, so your growth as a punter can begin.
General Bets for All Types of Sports
Equaling the Amount Staked: What Does Evens Mean in Betting Terms?
Evens, also known as 1/1 or even money, is one of the first sports betting terms you should understand. It means that the potential payout equals the amount staked. In other words, if you bet £10 on an event with even odds and win, you’ll get £10 in winnings plus your original £10 stake. The total payout would be £20.
Understanding sports betting terms is easier when you get an example, so here it is: the bookie gives equal odds for both teams winning a football match (let’s say it’s between Manchester City and Arsenal). If you bet £100 on Manchester City and they win, you’ll receive a total payout of £200. That returns your original £100 and gives you another £100 in profit.
The Result of a Single Event: What Does SU Mean in Betting Terms?
A Straight UP (SU) is a bet that evaluates the result of a single event, without any consideration for point spreads or other factors. When we try to explain betting terms and their meaning, this is one of the simplest types of bets to address. You ask yourself a simple question: which side will win the game?
Multiple Selections: What Is a Trixie in Betting Terms?
A trixie is a common type of bet in football, greyhound racing, and horse racing. It combines four bets in one: three doubles and one treble, which combines three selections in different combinations. That’s one of the more complex betting terms explained. A Trixie requires a minimum of three selections, with each one formed out of multiple bets.
Since three doubles and one treble are included, you can still generate returns even if one of the selections fails to win. But the stake for a Trixie is higher than the one for a single bet.
Let’s say you want to bet on three horse races taking place on the same day. You have three horses in mind. For a Trixie bet, you would make four bets featuring those three horses:
- Double: Horse A and Horse B
- Double: Horse A and Horse C
- Double: Horse B and Horse C
- Treble: Horse A, Horse B, and Horse C
Sports Betting Terms Specific for Horse Racing
Getting into British Slang: What Is a Pony in Betting Terms?
Foreigners are puzzled when they hear pony in betting terms sports. There’s a simple explanation for it: it’s a bet for a sum of £25. Although it’s mostly a bet for horse racing, the term can be applied to any sport. Some poker players even use the term when making poker bets, but you’ll mostly hear it among sports punters.
A pony is not a type of bet. It’s the amount you wager. How much you’ll win depends on the type of bet you place and the odds the bookie sets. Let’s say you decide to put a pony on a specific horse to win an upcoming race. If that horse wins, you’ll get your original £25 back plus the winnings based on the odds. If the horse loses, you’ll lose your pony.
Advanced Horse Race Betting: What Does SP Mean in Betting Terms?
The Starting Price (SP) is a type of bet that’s commonly used in horse racing. SP refers to the odds that value a horse or greyhound at the start of a race. They are determined by the on-course bookmakers or the official odds compiler.
So let’s explain sports betting terms: let’s say a horse race is scheduled for later in the day and you decide to place a bet on a horse. Before the start of the race, the bookmaker offers you odds of 5/1. But you notice that as the race approaches, the odds on the same horse fluctuate due to changes in betting activity and market conditions. At the start of the race, the official on-course bookmakers determine the SP for each horse based on the final odds offered by a selection of bookmakers. At this point, the SP for the same horse is 6/1.
If your horse wins the race, the payout for your bet will be calculated based on the SP of 6/1, regardless of the odds you got when you placed the bet earlier.
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The Bettor’s Strongest Tip: What Is a Nap in Betting Terms?
This is a common type of bet used in horse racing. It refers to the bettor’s most confident prediction for a specific race. The term originated from the famous 19th-century tipster named Napoleon. He was known for his consistently accurate selections.
A professional tipster with a strong track record of successful predictions releases their selections for each race in an upcoming horse racing event. Among these selections, they will point out their nap for a specific race.
All Combinations: What Is a Yankee in Betting Terms?
A Yankee is often used in horse racing. It combines 11 bets in four selections: six doubles, four trebles, and one accumulator (also known as a fourfold). The stake for a Yankee is much higher compared to simpler multiple bets.
Let’s say you have your eye on four horses that compete in four races on the same day. A Yankee bet would look like this:
- Six Doubles: AB, AC, AD, BC, BD, CD
- Four Trebles: ABC, ABD, ACD, BCD
- One Accumulator (Fourfold): ABCD
If any two, three, or all four of your selected horses win their races, you would receive returns from one or more of the doubles, trebles, or the accumulator. If multiple selections win, a Yankee could give you a significant return.
Now that you’re backed with foundational info on complex bets, will you start planning your next ones?
