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Football Betting Jargon :
Types of Bets
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Welcome to our betting jargon guide. Hopefully, when you've finished this, you'll have enough knowledge to impress your
mates down the pub and win a few quid by betting on football.
BASIC BET TYPES
There are three basic types of bet: 'to win', 'each way' and 'lay'.
'Win' Bets
A 'win' bet is where you bet on something positive to definitively happen.
IE: Chelsea to win the Premiership or Tottenham to win against Watford.
Betting on a draw in a football match is, therefore, a 'win' bet because you win when the outcome (the draw)
actually happens.
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WEEKLY BETTING TIPS
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The odds tell you how much you will get if that bet wins.
IE: You bet on Chelsea to win The Premiership at 4/9. This means for every nine pounds you bet, you get four pounds back plus your
original stake if Chelsea do win the Premier League.
If you bet £25 on this, then you will get £36.11 in total if Chelsea win the League.
25 x 4 / 9 = 11.1 +
£25 (original stake) = 36.11
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'Each Way' Bets
An each way bet is actually comprised of two bets. One 'to win' and one to nearly win (place).
Therefore, if you bet £25 each way (e/w), you
are actually betting a total of £50 (effectively £25 to win and £25 to place).
The Place Bet
Which places qualify as a winning each way bet and the payout you will receive
is up to the individual market and bookmaker.
You will see something like this : e/w 1/4 Odds 1,2,3,4
This means that you will be paid 1/4 the odds of a win bet for places 1,2,3 or 4.
Outcomes
Aside from your bet losing completely, there are two positive outcomes from an each way (e/w) bet.
Your Bet Places But Does Not Win
Example: You bet £25 each way on Darren Bent to be the top Premier League goalscorer at 20/1 and the terms were:
e/w 1/4 Odds 1,2,3,4.
Half of your bet (the 'to win' part) has lost as Darren Bent was not top Premiership goalscorer. However, your 'place'
bet has won as he was third top goalscorer.
£25.00 x 20/1 (the win odds) = £500.00
£500.00 / 4 (you get 1/4 odds for a place) = £125.00 winnings plus your £25 stake back.
Your Bet Wins
For this example, lets' say that Darren Bent was last season's top goalscorer and your £25 each way bet won outright.
This means that BOTH your place bet and your win bet won.
You collect your £125 win plus your £25 stake for the 'place' bet.
In addition, you collect a further £500.00 because your £25 'win' bet came in at 20/1. Again you get your £25 stake back for this part of the bet too.
£125.00 ('place' bet) + £500.00 ('win' bet) +£25.00 ('place' stake) + £25.00 ('win' stake) = £675.00
'Lay' Bets
A 'lay' bet is where you bet on something to lose. Quite simply, if you 'lay' a team and it loses, you win.
Generally, you will only find 'lay' bets at betting exchanges like
BetFair.com.
In effect, with 'lay' bets you are acting as the bookmaker. The way it works is like this:
You 'lay' Chelsea to win the League (this means you are betting on Chelsea NOT TO win the League) at 1/2.
You stake £100 - this is the maximum you are prepared to lose.
Because you are laying odds of 1/2 you can take bets up to £200. (£200 x 1/2 = your £100 stake).
If Chelsea do win the Premiership, you lose your £100. If they don't win the Premiership, you get to keep the
stakes - £200.
If this doesn't make much sense to you, I suggest you read our betting exchanges guide for more information.
Betting Variations
These variations are included only for the sake of completeness. We would strongly advise you to steer clear of these type
of bets. They are truly a mugs game.
Accumulator Bets
There are three types of accumulator bets - a 'double' whereby you places two bets which both must win; a 'treble' where three
bets must all win and an 'accumulator' which is a combination of 4 or more bets.
The value - if you can call it that - of these kinds of bets is that the odds are combined, meaning a small stake can
potentially result in very large winnings.
Patent Bets, Yankees, Trixies and More
A patent is a combination bet consisting of 7 bets created from 3 selections. It is made up of 3 'to win' single bets, 3 'doubles' and a 'treble' made up of all three selections.
If all three selections win, you win big. Mainly, though, it's likely you'll lose and spend
years saying things like: 'if only Man U had beaten Liverpool, I would have won thousands'.
Trixies and Yankees are variants on a patent bet. The Trixie has no single bets however, while the Yankee is based on four
selections but again with no single bets involved. This means you have 11 bets in play at the same time. Really, don't bother with this type of bet no matter how tempting it seems.
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Part Three: Football Betting Markets »
Part One: Beginners Guide To Gambling Online »
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