Knowledge Base
Glossary
Plain-English definitions for the terminology used across Pitch Notes.
- Arbitrage
- Exploiting differences in odds across sportsbooks to guarantee a profit regardless of the outcome.
- Back Bet
- A traditional bet that a specific outcome will happen.
- Bankroll
- The total amount of money you have set aside for betting.
- Bet Builder
- A feature that lets you combine multiple bets from the same match into one wager.
- Bet Slip
- The digital record that shows the bets you have placed and the potential payout.
- Betting Exchange
- A platform where bettors can bet against each other, often with lower fees than traditional sportsbooks.
- Bonus
- Extra funds or free bets given by the sportsbook to encourage betting.
- Cash Out
- A feature that allows you to settle your bet before the event ends, locking in a profit or loss.
- Dutching
- Placing multiple bets on different outcomes to guarantee a profit regardless of the result.
- Free Bet
- A bet that you can place without using your own money, usually given as a promotion.
- Handicap
- A bet that gives one team a fake advantage or disadvantage to make the odds more even.
- Hedging
- Placing additional bets to reduce the risk of loss on an existing bet.
- In-Play
- Bets placed while a match is happening.
- Juice
- Another name for margin; the fee the sportsbook charges for taking your bet.
- KYC
- The process of verifying your identity to prevent fraud and ensure you are of legal age to bet.
- Lay Bet
- A bet that a specific outcome will not happen, typically used on betting exchanges.
- Margin
- The bookmaker's built-in advantage, ensuring they make a profit regardless of the outcome.
- No Deposit Bonus
- A bonus you receive just for signing up, without needing to deposit any money.
- Odds
- The number that shows how likely an event is to happen and how much you can win if your bet wins.
- Odds Boost
- A promotion that increases the odds on a specific bet, giving you a higher potential payout.
- Parlay
- A bet that combines two or more selections; all must win for you to get a payout.
- Self-Exclusion
- A tool that lets you block yourself from betting for a set period if you feel you need a break.
- Stake
- The amount of money you risk on a bet.
- Value Bet
- A bet where the odds offered are higher than the true probability of the outcome, giving you an edge.
- Wagering Requirement
- The number of times you must bet the bonus amount before you can withdraw any winnings.