Bet – To wager money on the correct prediction of an outcome (event/ match/tournament, etc.)
Bookmaker – A company that is licensed to accept bets on the result of an event, based on odds provided to the customer.
Odds – The probability of a particular result of a sporting event occurring, stated in numerical form.
Under – a bet in which the bettor predicts that the total points scored by two teams will be under a certain figure.
Over – a bet in which the bettor predicted that the combined point total of two teams will be above a specified total.
Handicaps – These are “extra points” given to the weaker team (or underdog) in a game.
Point Spread – The predicted scoring differential between two opponents as quoted by the bookmaker.
Favourite – the player/team expected to win an event. The quoted odds reflect the extent to which that player/team is favoured.
Underdog – the player/team not expected to win an event. The quoted odds reflect the extent to which that player/team is not favoured.
Accumulator – A series of bets on multiple outcomes, in which all outcomes must be successful for the individual to win the bet. An accumulator bet with several matches can yield very high odds.
Head To Head – A sporting term used to describe two players/teams competing against each other in an event, usually a keenly anticipated one.
System Bet – A type of wager in which the bettor can bet on several events, and collect winnings despite not predicting all events correctly.