Sport Glossary at CasinoShamrock☘️ Ireland
Welcome to the CasinoShamrock.com☘️ Sport Glossary! Whether you’re betting on the GAA All-Ireland Final, the Six Nations, or a Premier League match, this guide explains the key terms you’ll encounter in sports betting. From odds to accumulators, we’ve packed this glossary with clear definitions to help Irish punters bet with confidence. Jump to any section using the links below.
A
- Accumulator (Acca): A bet combining multiple selections into one wager, with all needing to win for a payout.
- Action: Any live betting activity or the total amount wagered on a sport.
- Against the Spread (ATS): Betting on a team to cover the point spread, not just win outright.
- Ante-Post: A bet placed well in advance of an event, often with higher odds but more risk.
B
- Back: To bet on a team or player to win.
- Banker: A selection considered a near-certain winner, often used in accumulators.
- Bet Slip: The digital or physical ticket listing your wagers and potential payout.
- Bookmaker (Bookie): A company or person accepting and paying out bets, like Paddy Power.
C
- Cash Out: Withdrawing winnings or cutting losses before an event ends, if offered.
- Chalk: The favored team or player expected to win.
- Closing Line: The final odds offered by a bookmaker before an event starts.
- Cover: When a team wins by more than the point spread, or loses by less than it.
D
- Decimal Odds: A format showing total payout per euro staked (e.g., 2.50 = €2.50 return on €1).
- Double: A bet on two selections, both of which must win.
- Draw No Bet (DNB): A bet refunded if the match ends in a draw, reducing risk.
- Drift: When odds lengthen due to lack of betting interest.
E
- Each-Way (E/W): A bet split into two parts: one for a win, one for a place (e.g., top 3 in racing).
- Edge: The advantage a bettor or bookmaker has over the other.
- Even Money: Odds where the payout equals the stake (e.g., 2.00 in decimal odds).
- Exotics: Complex bets like trifectas or superfectas, common in horse racing.
F
- Favorite: The team or player expected to win, with shorter odds.
- Fixed Odds: Odds locked in at the time of betting, unlike fluctuating live odds.
- Futures: Bets on long-term outcomes, like a team winning the league.
- Fractional Odds: Traditional UK/Irish format (e.g., 5/1 = €5 profit per €1 staked).
G
- Gambling Regulatory Authority of Ireland (GRAI): Ireland’s regulator overseeing sports betting licenses as of 2024.
- Goal Line: A betting line on total goals scored in a match, similar to over/under.
- Green Book: When a bookmaker balances bets to guarantee profit regardless of outcome.
- Gubbing: Being restricted or banned by a bookie for winning too often.
H
- Handicap: A virtual advantage or disadvantage given to level the playing field (e.g., -1 goal).
- Hedge: Placing a bet to offset potential losses on another wager.
- Hook: The half-point in a spread (e.g., -3.5), preventing a push.
- Hot Tip: A strongly recommended bet based on insider info or analysis.
I
- Implied Probability: The chance of an outcome based on odds (e.g., 2.00 odds = 50%).
- In-Play Betting: Wagering on a match as it happens, with dynamic odds.
- Insurance Bet: A promotion refunding your stake (often as a free bet) if one leg of an acca fails.
J
- Joint Favorite: Two or more selections with equal shortest odds to win.
- Juice: The bookmaker’s commission, also called vigorish or overround.
K
- Kelly Criterion: A formula to calculate optimal bet size based on odds and edge.
- Knockout (KO): A bet on a fight ending by knockout, common in boxing or MMA.
L
- Lay: Betting against an outcome (e.g., a team not winning), typical in betting exchanges.
- Liability: The amount a bookmaker or bettor stands to lose on a bet.
- Live Odds: Real-time odds that change during an event.
- Longshot: A selection with high odds and a low chance of winning.
M
- Margin: The difference between implied probabilities and 100%, reflecting the bookie’s edge.
- Matched Betting: Using free bets to guarantee profit by covering all outcomes.
- Moneyline: A straight bet on which team or player will win, no spread involved.
- Multiples: Bets combining several selections (e.g., trebles, accumulators).
N
- No Action: A bet voided or refunded, often due to a canceled event.
- Non-Runner: A participant withdrawn before an event, typically refunding bets.
O
- Odds: The ratio of payout to stake, reflecting an outcome’s likelihood.
- Odds Boost: A promotion increasing the odds on a specific bet.
- Over/Under: A bet on whether a statistic (e.g., goals) will be above or below a set line.
- Overround: The bookmaker’s built-in profit margin across all odds.
P
- Parlay: Another term for an accumulator, popular in the US.
- Payout: The total amount returned to a bettor, including stake and profit.
- Place Bet: Wagering on a participant to finish in a top position (e.g., top 4).
- Prop Bet: A wager on specific events within a game (e.g., first goal scorer).
Q
- Quarter Bet: Splitting a bet into two parts, often in Asian handicaps (e.g., -0.25).
- Quick Bet: A feature for instant wager placement without a bet slip.
R
- Reverse Bet: A wager covering both sides of an outcome, reducing risk.
- Round Robin: A series of parlays combining multiple selections for flexibility.
- Run Line: A point spread in baseball, similar to a handicap.
S
- Sharp: A skilled bettor who consistently beats the odds.
- Spread Betting: Wagering on the margin of victory, not just the winner.
- Stake: The amount of money placed on a bet.
- System Bet: A wager covering multiple combinations of selections (e.g., Yankee, Trixie).
T
- Teaser: A parlay with adjusted point spreads or totals for better odds but lower payouts.
- Total: Another term for over/under betting (e.g., total points scored).
- Treble: A bet on three selections, all of which must win.
- Tricast: Predicting the top three finishers in exact order, common in racing.
U
- Underdog: The team or player less likely to win, with longer odds.
- Unit: A standard betting amount based on a bettor’s bankroll (e.g., 1% of funds).
V
- Value Bet: A wager where the odds offered exceed the true probability of winning.
- Vigorish (Vig): The bookmaker’s commission, built into the odds.
W
- Wager: A bet placed on a sports outcome.
- Win Bet: A straightforward bet on a team or player to win outright.
- Winning Margin: Betting on the exact point difference between teams.
X
- Xtra Time: Bets on extra time in sports like soccer or hurling if a match goes beyond regulation.
Y
- Yankee: A system bet with 11 wagers across four selections (6 doubles, 4 trebles, 1 four-fold).
- Yield: The percentage profit a bettor earns over time.
Z
- Zone Betting: Wagering on specific statistical ranges (e.g., 2-3 goals), less common but growing.
