Knowledge Base
Glossary
Plain-English definitions for the terminology used across Pitch Notes.
- Accumulator
- A bet that combines multiple selections into one wager; the returns roll over and multiply for each winning leg.
- Arbitrage
- Placing bets on all possible outcomes of an event across different bookmakers to guarantee a profit regardless of the result.
- Bankroll
- The total amount of money you have set aside for betting; managing it helps you avoid overspending.
- Bonus
- A promotional offer from a bookmaker, such as extra funds or free bets, often with conditions attached.
- Cash Out
- A feature that lets you settle a bet before the event ends, locking in a profit or limiting a loss instantly.
- Free Bet
- A bet funded by the bookmaker that lets you risk no own money; winnings usually exclude the original stake.
- Handicapping
- The process of analyzing teams, players, and statistics to estimate the likelihood of outcomes and find value bets.
- Juice
- The commission or fee that a bookmaker charges for taking a bet, built into the odds so the house retains a margin.
- Kelly Criterion
- A mathematical formula that calculates the optimal percentage of your bankroll to bet based on your perceived edge.
- Line Movement
- The change in odds or point spread over time, driven by betting volume, news, or market adjustments.
- Live Betting
- Placing bets on a match while it is in progress, with odds that change as the game unfolds.
- Matched Betting
- A technique that uses free bets and lay bets to cover all outcomes of an event, aiming to lock in a guaranteed profit.
- Moneyline
- A bet on which team will win the match outright, with no point spread involved.
- Odds
- A number that shows how much you can win relative to your stake; higher odds mean larger potential profit.
- Over/Under
- A bet on whether the total number of goals or points scored in a match will be higher or lower than a set line.
- Parlay
- A single bet that links two or more selections; all must win for the bet to pay out, multiplying the odds.
- Payout
- The total amount you receive when a bet wins, including your original stake plus any profit.
- Point Spread
- A handicap set by the bookmaker to make the favorite and underdog even out, expressed as a margin of points.
- Square
- A casual or recreational bettor whose betting patterns are less informed and can be exploited by the market.
- Stake
- The amount of money you risk on a single bet; the stake is multiplied by the odds to determine potential profit.
- Unit
- A standard, fixed amount of your bankroll used to measure bet size, usually a small percentage of the total funds.
- Value Bet
- A wager where the odds offered are higher than the true probability of the outcome, giving you a theoretical edge.
- Wagering Requirement
- The number of times you must bet a bonus amount before you can withdraw any resulting winnings.