Sports betting glossary

Acca: accumulator, a bet with several selections that must all win. Arb: backing every outcome across bookmakers at prices that lock in a small profit; operators close accounts that do it. Bet builder: several outcomes from one match combined into one bet. BOG: best odds guaranteed. Cash out: settling a bet early at the bookmaker’s offered price. Decimal odds: total return per unit staked, stake included. Each-way: two equal bets, win and place. Evens: 1/1. Exchange: a market where customers back and lay against each other, with commission on winnings. Fractional odds: winnings per unit staked, stake excluded. Free bet: a stake credited by the bookmaker; winnings are paid but the stake is not returned. Handicap: a start given to one side to even the contest. In-play: betting after the event has started. Lay: to bet against an outcome, on an exchange. Margin (overround): the amount by which the implied probabilities in a market exceed 100 per cent. Non-runner: a horse withdrawn before the race. Odds-on: a price shorter than evens. Place terms: the fraction of win odds paid on the place part of an each-way bet. Rule 4: the deduction from winnings when a horse is withdrawn late. Significant terms: the conditions that must appear with an offer. SP: starting price. Stake: the amount bet. Void: a bet cancelled and the stake returned. Wagering requirement: the number of times a bonus must be bet before it can be withdrawn. Yankee: 11 bets on four selections.