Knowledge Base
Glossary
Plain-English definitions for the terminology used across Fan Strategy.
- Accumulator
- An accumulator is a single bet that links several selections, and the payout grows as each selection wins.
- Arbitrage
- Arbitrage (or arbing) is the practice of betting on all possible outcomes of an event across different bookmakers to guarantee a profit.
- Bankroll
- Your bankroll is the total amount of money you have set aside for betting, and managing it responsibly helps avoid big losses.
- Bet Builder
- Bet Builder lets you create a custom wager by combining different markets from the same match into one bet.
- Bet Slip
- A bet slip is the record of your chosen selections and the amount you wish to wager before you confirm the bet.
- Cash Out
- Cash Out lets you settle a bet before the event ends, either locking in a profit or limiting a loss.
- Cashback
- Cashback is a bonus that returns a portion of your losses over a set period, giving you a second chance to win.
- Dutching
- Dutching distributes your stake across multiple selections in the same event so that you profit regardless of which one wins.
- Edge
- Edge refers to the advantage a bettor has over the bookmaker, often calculated as the expected value of a bet.
- Free Bet
- A free bet is a token you can use to place a wager without using your own money, but any winnings are usually yours to keep.
- Handicap
- A handicap gives one team a virtual advantage or disadvantage to equalize the betting odds between unevenly matched sides.
- In-Play
- In-Play betting allows you to place bets on a match while it is happening, with odds that update in real time.
- Kelly Criterion
- The Kelly Criterion is a formula that calculates the optimal size of a bet based on your perceived edge and odds.
- Matched Betting
- Matched betting uses free bets and lay bets to create a risk‑free profit by covering all outcomes of a market.
- Moneyline
- Moneyline is a bet on which team will win a match, with odds adjusted to reflect each team's chance of winning.
- Odds
- Odds represent the likelihood of an outcome and determine how much you can win if your bet is correct.
- Over/Under
- Over/Under is a bet on whether a specific statistic, such as total goals, will be higher or lower than a set line.
- Parlay
- A parlay combines multiple selections into one bet, and all selections must win for the parlay to pay out.
- Provably Fair
- Provably Fair is a system that lets players verify that each game result was generated fairly and not manipulated.
- RTP
- RTP stands for Return to Player, the percentage of total bets a game returns to players over time.
- Spread
- Spread, also called point spread, is a handicap that evens the chances by giving the underdog a virtual lead and the favorite a deficit.
- Stake
- The stake is the amount of money you risk on a bet, and it determines your potential payout.
- Value Bet
- A value bet occurs when the odds offered by a bookmaker are higher than the true probability of the outcome, giving you a positive expected return.
- Volatility
- Volatility describes how often and how much a game can pay out, with high volatility meaning bigger but less frequent wins.
- Wagering Requirement
- A wagering requirement is a condition that tells how many times you must bet a bonus before you can withdraw any winnings.