In our final instalment of the definitive guide to football betting terms, we take you through a maze of phrases including ‘vigorish’, ‘red book’ and ’scorecast’.

talking betting

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Picks:
Selected bets recommended by expert punters (usually), frequently also known as ‘tips’.

Pony:
UK slang denoting a sum of twenty-five pounds (£25).

Punter:
British slang for a bettor or someone who has just placed a bet. In the US, ‘bettor’ is the favoured term.

Red book:
Referred to by bookies when their risk is not evenly balanced across all potential outcomes in a betting market. In this situation, the bookmaker risks losing money on one or more outcomes by paying out more than they collect.

Score:
UK slang denoting twenty pounds sterling (or £20).

Scorecast:
A bet in which the punter predicts both the first player to score a goal in a match as well as the final score overall. Characterised by long odds, but rarely do scorecast bets win.

Settler:
Employed by a bookmaker to calculates payouts.

Shortening the odds:
Bookmaker’s reducing odds in response to betting patterns or new information about a game.

Spread:
A spread is a range of potential outcomes.

Spread Betting:
Refers to a range of wagers in which the punter bets on the accuracy of the wager and not simply a ‘win, lose or draw’ result.

Sure thing:
Any bet that has a very high chance of winning.

Tips:
Carefully selected bets chosen by an expert and recommended to other punters (also called ‘picks’).

Tipster:
A seasoned punter who offers his advice on the likely outcome of events based on their experience and/or calculations. Also known as a ‘tout’, a tipster can either sell their tips or give them away for free.

Treble:
A bet made up of three separate selections, all of which must win for the wager to win.

Three-way bet:
A standard bet in football; punters can either select a home win, draw or an away win. It is sometimes referred to as 1X2, because in bookmakers punters mark 1 for a home win, X for a draw and 2 for an away win.

Underdog:
Team that is thought to be the likely to win a match or competition. If a handicap is involved, this team should start the game with a numerical goal advantage. Odds paid out to underdog wins reflect their slim chances and are far higher than other options for a given proposition.

Value bet:
A bet in which the punter calculates the probability of an outcome taking place is higher than that perceived by the bookie. The bettor therefore reasons that the odds are set at level where the reward outweighs the risk.

Vigorish:
Bookmaker’s percentage profit made on the all of the stakes collected at the end of a given match.

Void bet:
When a bet is cancelled and the stake is returned to the bettor. This could happen in instances where games are cancelled through bad weather or in an Asian handicap when the bet is drawn.

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