Knowledge Base
Glossary
Plain-English definitions for the terminology used across Fan Strategy.
- Arbitrage
- Placing bets on all possible outcomes across different bookmakers to guarantee a profit regardless of the result.
- Asian Handicap
- A split‑handicap betting line that removes the draw as an option, giving only two possible outcomes.
- Bankroll
- The total amount of money you set aside for placing bets.
- Bet Builder
- A tool that lets you combine multiple markets from the same match into one custom bet.
- Bet Slip
- The electronic record that lists your selected wagers, stake, and potential payout before you confirm.
- Cash Out
- The option to settle a bet before the event ends, letting you lock in a profit or cut a loss.
- Cover
- When a team beats the spread or handicap line set by the bookmaker.
- Draw No Bet
- A bet that returns your stake if the match ends in a draw, and pays out if your chosen team wins.
- Edge
- The advantage you think you have over the bookmaker’s odds in a particular wager.
- Handicap
- A numerical advantage or disadvantage given to a team to create a balanced betting line.
- In-Play
- Betting that takes place after the match has started, with odds that update as the game progresses.
- Juice
- The commission a bookmaker adds to the odds, representing the house’s built‑in profit margin.
- Kelly Criterion
- A mathematical formula that calculates the optimal bet size based on your perceived edge.
- Moneyline
- A bet on which team will win the match outright, with odds shown as a positive or negative number.
- Multi-bet
- A single wager that links two or more selections, requiring all to win to receive a payout.
- Odds Movement
- Shifts in betting odds caused by news, market activity, or heavy wagering on one side.
- Over/Under
- A wager on whether the total number of goals (or stats) in a match will be higher or lower than a set line.
- Parlay
- A single bet that combines two or more selections; every selection must win for the bet to pay out.
- Point Spread
- A handicap applied to the favorite team to level the betting field, expressed as a number of goals.
- Push
- A tie result in a bet where the stake is returned and no profit or loss is recorded.
- Steam
- A rapid, widespread change in odds caused by heavy betting action, often from sharp players.
- Unit
- A standard stake size, usually a small percentage of your bankroll, used to manage risk.
- Value Bet
- A wager where you believe the true chance of an outcome is higher than the odds suggest.
- Void
- A cancelled bet where the stake is refunded, usually because a match was postponed or a rule exception applied.