Knowledge Base
Glossary
Plain-English definitions for the terminology used across Pitch Notes.
- Accumulator
- A bet that combines several selections into one, with winnings rolling over each winning leg.
- Arbitrage
- Exploiting differences in odds across bookmakers to guarantee a profit regardless of the result.
- Asian Handicap
- A handicap system that eliminates the draw option and halves the handicap increments, used to balance uneven matchups.
- Bankroll
- The total amount of money you have set aside for betting.
- Bet Builder
- A feature that lets you combine different markets from a single match into one customized wager.
- Bookmaker Margin
- The built-in profit margin a bookmaker includes in the odds, often called the "juice" or "vig".
- Cash Out
- The option to settle a bet before the event ends, receiving a predetermined amount.
- Cashback
- A promotion that returns a portion of your losses as bonus funds.
- Free Bet
- A no-cost bet credited to your account that you can use to place a wager.
- Hedge
- Placing a second bet on the opposite outcome to reduce potential loss or lock in profit.
- In-Play Betting
- Placing bets on events while they are already happening, with odds that update live.
- Kelly Criterion
- A mathematical formula that calculates the optimal size of a bet based on your edge.
- Lay Bet
- A bet that a particular outcome will not happen, typically used in exchange betting.
- Moneyline
- A bet on which team will win a match, with odds expressed as a positive or negative number.
- Odds
- The probability of an outcome shown as numbers, indicating how much you can win relative to your stake.
- Odds Boost
- A promotion that increases the odds on a selected bet, raising potential payouts.
- Parlay
- A single bet that links multiple selections; all must win for the bet to pay out.
- Point Spread
- A handicap given to the underdog to level the playing field, used in betting lines.
- Provably Fair
- A system that lets players verify that each game result is random and not manipulated.
- RTP
- The percentage of total wagers a game pays back to players over time.
- Single Bet
- A straightforward wager on one outcome, as opposed to multiple selections.
- Stake
- The amount of money you risk on a bet.
- Unit
- A standardized measure, often a percentage of your bankroll, used to size bets consistently.
- Volatility
- How often and how much a game can pay out; high volatility means bigger but less frequent wins.
- Wagering Requirement
- The number of times you must bet a bonus before you can withdraw any winnings.