Betting Glossary - Sports Betting Terms & Bet Types Explained

There are many different types of bets available other than “single” bets that help punters increase their profits and add excitement to the sports gambling experience.

Here we detail the many various types of “multiple” bets available at good online bookmakers, from “basic” bets for beginner punters to “advanced” for more experienced punters.

Betting Terms

In order to understand and learn the many different types of bets that you can use to make money other than on simple “Singles” it is useful to understand specific betting language as it is often used to explain “multiple” bet types and in other gambling situations.

Ante-post

Ante-post refers to betting markets made available and to bets made before and on the day of the event.

Co-favourite

When three or more participants’ odds for the same event are the same.

Dead Heat

A “Dead Heat” is when two or more participants in an event finish in the same position e.g. 1st Tiger Woods, Phil Mickelson, 3rd Rory Mcilroy, 4th Bubba Watson, 5th Ian Poulter.

A dead heat will often affect the return on a bet where “Dead Heat” rules apply.

This is very common in golf betting (See golf betting guide) and occasionally in Horse Racing.

Each Way

Each way is two bets – one to win and one to “place” - finish 1st, 2nd, 3rd, 4th, 5th (how many places are paid out on depends on the event and the number of horses, players or teams).

Evens

Evens (EVE) is commonly used to refer to odds of 1/1 (U.K) or 2.00 (European) +100 (American), where the winnings is the same as the original stake amount so the total return is double the original stake.

Favourite

The favourite is the participant with the lowest odds.

Fold

“Fold” is the number of selection in an accumulator (see accumulator in bet types below) for example, a 4-Fold Accumulator is 4 selections, a 5-Fold Accumulator is 5 selections, and so on.

Full Cover

A “Full Cover” describes a bet that has combinations of Doubles, Trebles and other Accumulators, for example a “Yankee” is a full cover bet (see “Yankee” in bet types below).

Joint Favorite

Two participants with the same lowest odds.

Multiple Bet

A “multiple” is a bet that consists of two or more selections to make one or more bets e.g. a double, an SSA, a Trixie, etc. (See bet types below).

Non-runner

A non-runner (usually a horse) is a selection that is removed before the event starts.

Odds

The “odds” are what a bookmaker will pay out for a specific stake if the selection chosen wins or places depending on the bet type made.

Odds can be expressed as either a fraction (U.K.) e.g. 6/4, decimal (European) 2.5, or American ‘moneyline’ +150.

Odds Against

Odds against are odds that are higher than evens for example 3/1 (fraction), 4.0 (decimal) or +300 (American).

Odds On

Odds on are odds that are lower than evens for example 5/6 (fraction), 1.91 (decimal) or -100 (American) [the odds are not equivalent here].

Participant

A player, team or animal entered in an event that is available to be chosen to bet on.

Perm

Perm is short for “permutation” and means that all possible combinations of a bet type are applied to all selections. For example, 3 selections can make 3 doubles e.g. AB, AC and BC.

Place

A place is when a selection finishes 1st, 2nd 3rd, 4th or 5th depending on the number of participants, the type of event and the bookmaker.

Generally in horse racing 5 to 7 runners has 2 places, 8 or more runners has 3 places, 12 or more runners there are 4 places and 16 or more has 5 places however for F1 there maybe just 3 places although there are 20 participants.

Place 1,2 or Place 1,2,3 or Place 1,2,3,4 or Place 1,2,3,4,5

The finishing position with odds paid out on a placed participant. For example, 4 places at 1/4 odds. So if your selection finishes 4th at 100/1 you will be paid at 25/1.

Profit

Your return minus your original total stake.

Return

The return is the amount paid out on a winning bet plus your original stake.

Selection

A selection is a participant you bet on.

(Unit) Stake

A stake is the amount of money you use to bet on each individual selection.

Total Stake

The total stake is the amount of money you use to bet for all of the individual selections and bets put together – so Total Stake = number of bets x stake on each selection and (or) bet.

Void

Void is used to describe a selection or bet that is no longer possible and the stake is returned. There are a many reasons why a selection may be “void” – for example the event not taking place (due to bad weather for example), the event being abandoned (due to bad weather for example) or a horse being removed from a race.

Types of Bets（Multiple Betting）

From here, we'll into explanations about multiple-bets(combo bets).

Accumulator (4-fold, 5-fold, 6-fold, 7-fold, 8-fold, etc.)

An Accumulator is a bet of 4 or more selections from four or more different events.

If all selections win you make a profit. If any selection loses then you lose the whole bet.

Note: Doubles, Trebles and Accumulators can be very highly profitable for small stakes and so are quite popular with the average punter.

Double

A Double is an accumulator bet of 2 selections from two different events.

If the first selection wins then the total return is automatically placed on the second selection and if the second selection wins you make a profit. If the first or/and second selection loses you lose the whole bet.

Treble

A Treble is like a double but is one bet with 3 selections bet from three different events.

If all 3 selections win you make a profit. If one or more selections lose then you lose the whole bet.

Trixie

A Trixie is 3 selections from three different events.

The selections are put together to produce 4 equally staked bets of one treble and 3 (perm) doubles. A $1 “Trixie” costs $4 ($1 on the treble and $1 on each double). The payout is:

Patent

A Patent is a “Trixie + 3 Singles” so 3 selections from three different events.

The selections are put together to produce 4 equally staked bets of one treble and 3 (perm) doubles and 3 singles.

A $1 “Patent” costs $7 ($1 on the treble and $1 on each double and $1 on each single). The payout is:

Yankee

A Yankee is 4 selections from four different events.

The four selections are put together to make 11 equally staked bets of one 4-Fold Accumulator, 4 (Perm) Trebles and 6 (perm) Doubles. A $1 “Yankee” costs $11.

Yap or Lucky 15

A Yap (also known as a “Lucky 15”) is a “Yankee plus 4 Singles”.

It is 4 selections from four different events put together to make 15 equally staked bets of one 4-Fold Accumulator, 4 (perm) Trebles, 6 (perm) Doubles and 4 Singles. A $1 “Yap” costs $15.

Canadian

A Canadian (or Super Yankee) like a “Yankee” (a Yankee is 4 selections) but is 5 selections from five different events.

26 equally staked bets are put together to make a 5-fold accumulator, 5 (perm) 4-Folds, 10 (Perm) Trebles and 10 (Perm) Doubles.

Lucky 31

A Lucky 31 is a “Canadian + 5 Singles” a total of 31 bets.

Intermediate Bets

Note: From here you will notice that the number of individual bets within each Bet Type increase dramatically and so the total stake so for these multiple bets can get very expensive but it is possible to reduce the stake on each bet so the total stake is not so high.

E.g. for the “Alphabet” listed below you can place 26 bets @ 0.50 to make the total stake $13.00.

For higher multiple bets you can place as little as 0.01 on each bet so a “Goliath” bet @ 0.01 would cost $2.47 for example.

Alphabet

An Alphabet is 6 selections from six different events, which are numbered 1 to 6. 26 equally staked bets are put together to make 2 Patents, 1 Yankee and one 6-fold accumulator. The bets are made as follows:

Fivespot

A Fivespot is made from 5 selections from five different events.

15 equally staked bets are put together to make 5 Singles, 4 Doubles, 3 Trebles, 2 Four-Folds, and a 5-fold accumulator. The bets are NOT perms and so are put together as follows:

Pontoon

A Pontoon is a “Fivespot” but with 6 selections from six different events.

21 equally staked bets are put together to make 6 Singles, 5 Doubles, 4 Trebles, 3 Four-Folds, 2 Five-Folds, and a 6-fold accumulator.

The bets are NOT permutations and so are made as follows:

Magnificent 7

A Magnificent 7 is a “Pontoon” but with 7 selections from seven different events.

28 equally staked bets are put together to make 7 Singles, 6 Doubles, 5 Trebles, 4 Four-Folds, 3 Five-Folds, 2 Six-Folds, and one 7-fold accumulator. The bets are NOT permutations and so are made as follows:

Advanced Bets

A Singles Stakes About (SSA) (Up and down) (Reverse) (Twist) (Any to Come)

A Single Stakes About bet is two singles bets made on two different events.

When (if) both singles win then the amount staked on each selection is used as an additional stake for each selection again.

This means you win double the amount than if you placed only two singles.

Both selections must win for this bet to pay out.

A $1 SSA costs $2 [To singles at $1 each – when they win an additional $1 is added (from the winnings of each single) to the other single which doubles the return].

Double Stakes About (DSA)

A Double Stakes About is the same as a “Single Stakes About” except that the chosen additional stake placed on each selection is double the original stake placed on the each selection.

Round Robin

A Round Robin is 3 selections from three different events. 10 equally staked bets are made from a Trixie and 3 (perm) Single Stakes About.

Flag (Super Round Robin)

A Flag is 4 selections from four different events. 23 bets are made with a Yankee and 6 (perm) Single Stakes About.

Goliath

A Goliath is 8 selections from eight different events.

247 equally staked bets are made from an 8-fold accumulator, 8 (perm) 7-Folds, 28 (perm) 6-Folds, 56 (perm) 5-Fold, 70 (perm) 4-Folds, 56 (perm) Trebles and 28 (perm) Doubles.

Goliath Flag

A Goliath Flag is 8 selections from 8 different events, 303 equally staked bets are made from a Goliath and 28 (perm) Single Stakes About.

Heinz

A Heinz is 6 selections from six different events, 57 equally staked bets are made from a 6-fold accumulator, 6 (perm) 5-Folds, 15 (perm) 4-Folds, 20 (perm) Trebles and 15 (perm) Doubles.

Heinz Flag

A Heinz Flag is 6 selections from six different events.

87 equally staked bets are made from a Heinz and 15 (perm) Single Stakes About.

Super Flag

A Super Flag is 5 selections from five different events.

46 equally staked bets are made from a Canadian and 10 (perm) Single Stakes About.

Super Heinz

A Super Heinz is 7 selections from seven different events.

120 equally staked bets are made from a 7-fold accumulator, 7 (perm) 6-Folds, 21 (perm) 5-Folds, 35 (perm) 4-Folds, 35 (perm) Trebles and 21 (perm) Doubles.

Super Heinz Flag

A Super Heinz Flag consists of 7 selections from 7 different events. 162 equally staked bets are made from a Super Heinz and 21 (Perm) Single Stakes About.

Union Jack

A Union Jack is 9 selections from nine different events.

The selections are numbered 1 to 9, and put into 3 rows of 3 selections. Bets are made by putting the selections together into horizontal, vertical and diagonal lines so the selection form 8 lines that make eight sets of 3 selections each: 1-2-3, 1-4-7, 1-5-9, 4-5-6, 2-5-8, 3-5-7, 7-8-9, 3-6-9

Then from these sets 8 Trebles, or 8 Trixies [32 bets] or 8 Patents [56 bets] or 8 Round Robins [80 bets] can be made.

We keep updating and adding more betting terms and word meanings. We hope it to be useful for world punters!