BetEdge Glossary

Tipster – One who provides betting advice.

Forum – An online discussion where people can hold conversations in the form of posted messages.

Blog – A personal online journal that is frequently updated and intended for general public consumption. BetEdge has blogs specifically for the BetEdge community.

Return on Investment (ROI) - Return on invested capital eg. If you have place 10 bets over a period at an average of $10 each and your total return or winnings is $120 then your ROI would be 20% $120/($10 x 10)-1 x 100 = 20%

Bank Roll – The total amount of funds you have set aside for betting otherwise known as your total stake.

Multi (Accumulator) – A wager involving the selection of a series of propositions in relation to any sporting event available for fixed odds wagering where the final dividend is —

            (a)         reliant on all propositions being correctly selected; and

            (b)         determined by multiplying together the odds of each selection;

 

Favourite – The team or individual that the bookies believe are most likely to win. This team or individual will be priced the shortest.

Lay – Recently betting exchanges have allowed consumers to both back and lay at odds of their choice. Similar in some ways to a stock exchange, a bettor may want to back a horse (hoping it will win) or lay a horse (hoping it will lose, effectively acting as bookmaker). An example of laying a bet is if Australia are Playing England in Test Match Cricket the odds are Australia $11, England are $1.69 and the Draw is $2.45. You might believe that England are not going to win and so you can offer the odds of $1.69 to another punter if you bet is $100 and England win this will cost you $69 if Australia win or there is a draw you will win $100.

Field – Sometimes bookmakers will offer the field in their betting odds. The field represents all other results other than the other ones listed as options. This market will often be provided to attract interest in the outsiders eg. Tiger Woods vs the field.

Line betting – Known in the USA as ‘handicapping’ it is used to even the odds of a particular sporting event. Each team has points either added to its final score or subtracted from its final score, to determine if the bet is a winner.  E.g. Miami Heat –5.5: Miami needs to win by more than 5 points to win the bet.

Value – When you believe a bookmaker is offering better odds than the true odds of the result.

Unit - The value or amount placed on each bet. A 10 unit bet would be an almost certainty with a lower unit being less certain. Each unit is represented by $100 meaning a 10 unit bet is $1000. Each unit should represent a portion of your bank roll as explained above. On The BetEdge Leader board you can see the profit (or loss) and Expert Tipster has made represented in both units and in dollar terms.