Welcome to our glossary of the many different bet types and their meaning.
Glossary of Bet Types
All of the types of wagers listed in our A-Z guide below can be found at online betting sites in the UK or overseas.
Accumulator– An accumulator, bet or acca as it is often known, is a type of bet that contains a number of selections, which all have to be successful for the wager to win. The winnings from the first successful bet in the accumulator and the initial stake, go onto the second selection and so on, with the monies accumulating, hence the name.
Alphabet – A combination wager featuring 26 bets. It consists of two patents, one yankee and a sixfold Accumulator.
Ante Post – This is a phrase used for horse racing bet types that are placed well in advance. An ante post wager is put on before the runners are confirmed at the final declaration stage.
Back – Perhaps the most important concept in this betting guide. You ‘back’ a selection, when you think that it will win.
Banker – In accumulator or combination bets, which feature a range of wagers, a banker is a selection that you consider to have a high-percentage chance of winning.
Booking Points – This betting market allows you to gamble on the amount of bookings in a single game of football. A yellow and red card are both given points values by the bookmaker and you have to bet on how big the accumulated points total will be, between the two teams.
Canadian – This combination wager has five selections and 26 different bets. They include ten doubles, ten trebles, five four-folds and a five-fold accumulator.
Cards – There are yellow and red cards shown in football games and you can bet on a variety of markets based around them.
Combination Forecast – A forecast bet where you choose three or more selections and any two must finish in the top two places, in any order.
Combination Tricast – A tricast bet where you pick four or more selections and any three must finish in the top three places, in any order. Combination tricasts can be expensive if you have too many selections.
Cover Bet – With a cover bet, you place an additional bet that affords you some sort of insurance on the result of a previously placed bet, in the same event.
Double – Pick two bets and place them together as a double. Both must win for the bet to be successful.
Double Chance – With this type of wager, you are betting on two results within a match result market that contains three (1×2). When you back a team double chance, you are betting on them to either win or draw, or to put it another way, not to lose.
Double Result – This is one of the different bet types that is most often found in football betting. You are betting on a team to be ahead at half-time and then to win the match at full-time.
Draw No Bet – When you get some bet types explained, you realise that the clue is in the name. With a Draw No Bet wager, a draw in a contest will see the bet made void and your stake returned.
Dual Forecast – A US term for a reverse forecast, where your two selections must place in the top two, in either order.
Each-Way – With each-way betting you are essentially placing two wagers. One bet goes on your selection to win, while another bet goes on your selection to place. Your unit stake is doubled, so if you bet £5 each way it will cost you £10.
Exacta – US term for a forecast, where you pick out two selection which have to finish in the first two places, in the right order.
Flag – A flag is a combination bet with four selections, featuring six doubles, four trebles, a fourfold and six up-and-down SSA pairs.
Forecast – One of the most common type of horse racing wagers, which is sometimes available in other sports. You have to pick out the winner in a market and the selection that will finish second, in the right order. It’s often known as a straight forecast.
Full Cover – A full cover bet is a type of combination wager in which every possible combination of bet is covered for all the selections, starting at singles and going up to a full acca.
Futures – As the name suggests, futures bets are where you are betting on markets that will be decided in the future. An American term, this could take the form of betting on which team will win the Super Bowl or World Series.
Goalscorer – There are a variety of markets based on goalscorers. You can be on a player to score anytime, the first goal, the last goal, two goals or more, or a hat-trick or more.
Goliath – A goliath is a combination bet with eight selections and 247 separate wagers. It contains 28 doubles, 56 trebles, 70 fourfold accumulator bets, 56 fivefolds, 28 sixfolds, eight sevenfolds and an eightfold accumulator.
Half-Time/Full-Time Bet – Also written HT/FT, and known as the double result, your wager is on the result at both the half-time interval and final whistle.
Handicap – In an effort to even up betting odds, bookmakers will give a handicap to the favourite and an advantage to the outsider.
Heinz – A Heinz is a combination bet with six selections. It contains 57 different wages, which are broken down into 15 doubles, 20 trebles, 15 four-folds, six five-folds and a six-fold accumulator.
Jackpot – The Tote Jackpot tasks you with picking the first six winners at a selected meeting, to win a big jackpot prize.
Lay bet – This is a popular bet type at betting exchanges. As well as placing a back bet on a selection to win, you have the option of placing a lay bet, which is where you are banking on the pick to lose.
Lucky 15 – A lucky 15 is a combination bet with four selections, featuring 15 bets comprised of four singles, six doubles, four trebles and a fourfold acca.
Lucky 31 – A lucky 31 is a combination bet with five selections, featuring 31 bets comprised of five singles, ten doubles, ten trebles, five fourfolds and fivefold acca.
Lucky 63 – A lucky 63 is a combination bet with six selections, featuring six singles, 15 doubles, 20 trebles, 15 fourfolds, six fivefolds and a sixfold acca.
Match Bet – Two competitors are named in an event such as a horse race or football league and you have to predict the one that will finish higher.
Money Line – Any detailed guide to US betting terms will include the money line. It is an American term that is used to describe what would be a regular match result market in the UK.
1×2 – This is one of the most common betting types that you will see. It’s used to represent three-way match results in sports such as football. The ‘1’ represents a home win, the ‘2’ is an away win and ‘x’ is a draw.
Over/Under – This is another of the most popular bet types that you find with football markets. You can bet on whether there will be over under a certain amount of goals, corners, bookings or other stats.
Parlay – A parlay bet is another term for an accumulator. It is a word that is used at US sports betting sites and works in exactly the same way as a regular acca.
Patent – A patent bet is a full cover wager with three selections, featuring seven bets. It breaks down as three singles, three doubles and one treble.
Place – These types of bet are often used in sports like horse racing or golf. Rather than betting on a winner, you are hoping that your selection merely ‘places’, which could mean a top three finish in a horse race, or a top five spot in a golf tournament.
Placepot – With a placepot you must pick our a horse that will place in each of the first six races at a meeting.
Prop – The phrase ‘prop bet’ is short for ‘proposition bet’. A proposition is made and you bet on whether it will occur or not, such as will there be over or under 2.5 goals in a football match.
Quinella – This is another word for a reverse forecast, where two selections are chosen, which must finish in the top two places, in either order.
Reverse Forecast – This is like a regular forecast bet, only in this case you pick two selections and they can finish in either order in the top two places.
Round Robin – A combination bet with three selections. It features ten bets, which are comprised of three doubles, one treble and three up-and-down single stakes about pairs.
Scorecast– Combining correct score betting and first goalscorer odds in the same bet.
Single – No comprehensive guide to betting terms would be complete without the simplest type of bet of all. This is a single wager. Just a one-off bet, that is dependent on one single outcome.
Spread – This could refer to spread bets and is also a word used in American betting parlance, for a handicap.
Superfecta – Popular in the US, a superfecta tasks you with predicting the first four finishers in a race, in the correct order.
Super Flag – A combination bet with five selections, featuring 46 bets. It contains ten doubles, ten trebles, five fourfolds, one fivefold and ten up-and-down SSA pairs.
Super Heinz – A Super Heinz is a combination wager that has seven selections and a total of 120 bets. It contains 21 doubles, 35 trebles, 35 fourfolds, 21 fivefolds, 7 sixfolds and a sevenfold accumulator.
Super Yankee – These type of wagers are a combination bet, featuring five selections and 26 bets. It contains ten doubles, ten trebles, five fourfolds and a fivefold accumulator.
Stakes About – You choose two selections from two different events. The stake goes on the first bet. If it wins, then the bet stakes are used on the second bet.
System – System bets are ones like yankees or patents, that feature a number of selections that make up a combination of different bets. It means that you can make a profit without all the selections winning.
Tote – Tote betting gives the opportunity for pools-based betting on horse racing and sport.
Treble – One of the most familiar betting types, a treble sees you pick three selections, which all must win for the bet to be successful as a whole.
Tricast – Pick three selections that must finish in the first three places in an event, in the right order.
Trifecta – This is simply a US term for a tricast.
Trixie – A popular bet in horse racing and other sports, a trixie has three selections, which combine to make three doubles and a treble.
Union Jack– This bet is named because it resembles the shape of the Union Jack Flag. It has nine selections, with one in the middle and the other eight selections positioned where the red stripes of the Union Jack would be, forming a variety of different trebles.
Win to Nil – This is one of the most popular bet types for football fans. You are betting on a team to win, while also not conceding a goal.
Without the Favourite – This is a market where the favourite is removed from the equation, generally because it is a very short price, with a high chance of winning. So in a horse race, the favourite is eliminated from the market and you are betting on your selection to win the race, or to finish second behind the favourite.
Yankee – A yankee is a combination bet with four selections, that features seven wagers. It is comprised of six doubles, four trebles and a four-fold accumulator.
What is the most popular type of bet?
The most frequently type of wager that is placed is a single. Just a one-off bet, dependent on the result of a single event.
Why have so many bet types developed?
With so many different online betting sites and bookmaker shops, the industry has developed a wide range of wagers and bets. Competition breeds innovation.
What is the best type of bet in horse racing?
An each way wager is a good one for horse racing, as it gives you two chances. One part of the bet goes on the horse to win and the other part goes on the horse to place.
Do all bookmakers allow different bet types?
All bookies have a wide range of different types of wagers, which they employ across the range of sports and events that they cover.
Why are some types of bet more complicated than others?
Bookmakers want to provide a good range of wagers for their customers. These range from simple bets such as a single or a double, to complicated bets with multiple selections. Customers benefit from the wide choice.
A writer and editor for some of the top names in the gambling industry for nearly 20 years, Dan also works as a freelance sports journalist for publications and websites such as ESPN, FourFourTwo and LiveScore.