Sports Betting Glossary for Diki Bets
Essential Terms
Action⁚ Any kind of wager placed on a sporting event.
Bankroll⁚ The total amount of money set aside for betting.
Bookmaker (Bookie)⁚ A licensed entity that sets odds‚ accepts bets‚ and pays out winnings.
Odds⁚ Numerical representations of the likelihood of an event occurring‚ used to determine payouts.
Point Spread⁚ A handicap used to even out the odds between two unevenly matched teams.
Moneyline⁚ A bet on the outright winner of a game‚ regardless of the point spread.
Over/Under (Totals)⁚ A bet on whether the total combined score of both teams will be over or under a set number.
Parlay⁚ A single bet that combines two or more individual wagers‚ with all selections needing to win for a payout.
Push⁚ A tie between the bettor and the bookmaker‚ resulting in a refund of the wager.
Vigorish (Juice)⁚ The commission charged by a bookmaker for accepting a bet.
Types of Bets
Moneyline Bet⁚ The most straightforward type of bet where you wager on which team or individual will win the game or event.
Point Spread Bet⁚ A bet on the margin of victory. The favorite must win by more than the spread‚ while the underdog can lose by less than the spread or win outright.
Totals Bet (Over/Under): A wager on the total combined score of both teams or players in a game‚ exceeding or staying under a predetermined number.
Parlay Bet⁚ A bet that combines multiple selections into a single wager‚ with all selections needing to win for a payout. Offers higher potential returns but also carries greater risk.
Teaser Bet⁚ Similar to a parlay‚ but you can adjust the point spreads or totals in your favor in exchange for lower potential payouts.
Futures Bet⁚ A bet placed on an event or outcome that will be determined in the future‚ such as the winner of a league championship.
Prop Bet⁚ A wager on a specific occurrence within a game or event‚ often unrelated to the final outcome‚ such as the number of points scored by a particular player.
Live Betting (In-Game Betting)⁚ Wagers placed on a game or event while it is in progress‚ with odds fluctuating based on the live action.
Betting Strategies
Value Betting⁚ Identifying and wagering on selections where the odds offered by the sportsbook are higher than your perceived probability of the outcome occurring.
Bankroll Management⁚ Setting a budget for your bets‚ managing your stakes‚ and avoiding chasing losses to ensure long-term profitability.
Line Shopping⁚ Comparing odds and lines across multiple sportsbooks to find the most favorable prices‚ maximizing your potential returns.
Following Tipsters (with Caution)⁚ Subscribing to or following professional sports handicappers for their insights and predictions‚ but always researching their track record and legitimacy.
Fading the Public⁚ Betting against the popular opinion or heavily favored side‚ often exploited when public sentiment is driven by emotions rather than objective analysis.
Arbitrage Betting⁚ Exploiting discrepancies in odds offered by different sportsbooks on the same event‚ placing bets on all possible outcomes to guarantee a profit.
Hedging Bets⁚ Placing bets on opposite outcomes of the same event to minimize potential losses or guarantee a minimum profit‚ especially common in live betting.
Statistical Analysis and Research⁚ Utilizing historical data‚ player statistics‚ team performance metrics‚ and other relevant information to make informed betting decisions.
Key Concepts
Odds⁚ Numerical representations of the likelihood of an event occurring‚ determining the potential payout for a winning bet. Different formats exist‚ including American‚ decimal‚ and fractional odds.
Point Spread⁚ A handicap system used to even out the playing field between two teams‚ with the favorite needing to win by a certain margin and the underdog receiving a head start.
Moneyline⁚ A straightforward bet on which team or individual will win a particular event‚ with odds reflecting the perceived probability of each outcome.
Over/Under (Totals)⁚ Wagering on whether the combined score or statistic of both teams or players will be higher or lower than a predetermined value set by the sportsbook.
Parlay⁚ Combining multiple bets into a single wager‚ increasing both the potential payout and the risk as all selections must win for a parlay to be successful.
Futures⁚ Betting on the outcome of a future event‚ such as the winner of a championship or a team’s regular season win total‚ often with fluctuating odds based on performance and events.
Live Betting (In-Play Betting)⁚ Placing wagers on an event as it unfolds in real time‚ with odds constantly adjusting based on the current state of play and game situation.
Push⁚ A tie or draw in betting terms‚ where neither the bettor nor the sportsbook wins‚ and the original wager is refunded.
Advanced Terminology
Hedging⁚ Placing bets on the opposite side of an initial wager to guarantee a profit or minimize potential losses‚ typically employed in situations with shifting odds or multi-leg bets.
Middling⁚ Exploiting discrepancies in point spreads or odds offered by different sportsbooks‚ allowing for the possibility of winning both sides of a bet if the outcome falls within a specific range.
Arbitrage Betting⁚ Identifying and capitalizing on odds discrepancies between multiple sportsbooks to guarantee a profit regardless of the event’s outcome‚ requiring precise calculations and rapid bet placement.
Dutching⁚ Distributing a wager across multiple selections or outcomes within the same event to ensure a consistent profit or minimize losses‚ often used in horse racing or markets with numerous possibilities.
Expected Value (EV)⁚ A statistical measure used to determine the average outcome of a bet over the long term‚ calculated by considering the probability of winning or losing and the potential payout.
Bankroll Management⁚ A crucial aspect of responsible betting involving setting limits on wagers‚ establishing a budget‚ and employing strategies to protect capital and sustain long-term betting activity.
Sharp Money⁚ Wagers placed by professional or highly knowledgeable bettors who are perceived to have an edge or insider information‚ often influencing line movements and odds adjustments.
Steam Move⁚ A significant and rapid shift in betting odds‚ usually triggered by a large volume of wagers or “sharp money” coming in on one side of a particular market.