Knowledge Base
Glossary
Plain-English definitions for the terminology used across Pitch Notes.
- Accumulator
- A single bet that links two or more individual wagers, all of which must win for the bet to pay out, and the winnings roll over from one selection to the next.
- Asian Handicap
- A point spread that halves the chance of a draw by using whole numbers or quarters, giving a team a positive or negative advantage to level the playing field.
- Bankroll Management
- The practice of setting a budget for betting, deciding how much money to stake on each wager, and tracking wins and losses to avoid overspending.
- Bet Builder
- An online feature that lets you combine multiple outcomes from a single match into one custom wager, such as the winner, total goals, and player performances.
- Cash Out
- A feature that allows you to settle a bet before all the events have concluded, either locking in a profit or cutting a loss based on the current odds.
- Closing Line
- The final set of odds offered just before an event starts; getting a better (earlier) line than the closing line can signal a valuable bet.
- Double Chance
- A bet that covers two of the three possible outcomes in a match (win/draw, draw/win, etc.), reducing risk compared to betting on a single outcome.
- Edge
- The perceived advantage a bettor believes they have over the bookmaker’s odds, often identified through analysis, statistics, or insider information.
- Even Money
- A bet with odds of 2.0 in decimal format (or +100 in American odds) where the potential profit equals the amount wagered.
- Free Bet
- A promotional credit given by a bookmaker that can be used to place a wager; any winnings are usually paid out, but the original stake is not returned.
- Goal Line
- A betting line set by the bookmaker on the total number of goals scored in a match, similar to an over/under but used specifically for soccer.
- In-Play Betting
- Placing a wager on a match after it has begun, with odds that shift in real time as the game unfolds.
- Juice
- The commission or fee that a bookmaker adds to the odds, typically built into the lines to ensure a profit regardless of the outcome.
- Kelly Criterion
- A mathematical formula that calculates the optimal fraction of your bankroll to wager based on the perceived edge and odds, aiming to maximize long‑term growth.
- Lay Bet
- A bet that a particular outcome will NOT happen, typically placed on a betting exchange where you act as the bookmaker and accept stakes from other users.
- Matched Betting
- A technique that uses free bets and lay bets to guarantee a profit by covering all possible outcomes of an event, exploiting promotional offers.
- Odds Boost
- A promotional increase of the odds on a specific selection, offering a higher potential payout than the standard odds.
- Over/Under
- A bet on whether a specific statistic (such as total goals, points, or cards) will be higher or lower than a number set by the bookmaker.
- Parlay
- A single bet that combines two or more individual selections, all of which must win for the bet to succeed, with odds multiplied together for a larger payout.
- Push
- A tie between the bettor and the bookmaker where the original stake is returned, usually occurring when the final result matches the exact line set.
- Risk-Free Bet
- A promotional offer that refunds your stake if the bet loses, typically as a free bet or site credit, reducing the financial risk of the wager.
- Rollover Requirement
- A condition attached to a bonus that requires you to wager the bonus amount a certain number of times before you can withdraw any winnings.
- Stake
- The amount of money you place on a bet, representing your financial commitment to that wager.
- Value Bet
- A wager where the odds offered by the bookmaker are higher than the true probability of the outcome, indicating a potential long‑term profit opportunity.
- Vigorish
- The built‑in margin or cut that a bookmaker includes in the odds, ensuring they profit over the long run regardless of the result of each event.