Knowledge Base

Glossary

Plain-English definitions for the terminology used across Pitch Notes.

1X2: 1X2 is a market where you bet on either the home win (1), draw (X), or away win (2).
Accumulator: An Accumulator is a single bet that links multiple selections; all must win for you to get a payout.
Asian Handicap: Asian Handicap gives a team a plus or minus goal advantage to eliminate draws and balance the match.
Back Bet: A Back Bet is a wager that a specific outcome will happen, such as a team winning.
Bankroll: Bankroll is the total amount of money you set aside for betting.
Bet Slip: Bet Slip is the digital record that lists your selected bets, stakes, and potential payouts.
Bookmaker Margin: Bookmaker Margin is the extra percentage built into odds that ensures the bookmaker makes a profit regardless of the result.
Both Teams To Score: Both Teams To Score asks whether each side will score at least one goal during the match.
Cashout: Cashout lets you settle a bet before the event ends, locking in a profit or limiting a loss.
Decimal Odds: Decimal Odds show the total payout for each unit bet, including the original stake.
Draw No Bet: Draw No Bet removes the draw option; you win if your chosen team wins, and get your stake back if it’s a draw.
Fractional Odds: Fractional Odds express the profit you make relative to your stake, shown as a fraction.
Hedge Betting: Hedge Betting involves placing opposite bets on different outcomes to guarantee a profit or reduce risk.
House Edge: House Edge is the built-in advantage that the bookmaker or casino has in any bet, expressed as a percentage of each wager.
In-Play Betting: In-Play Betting lets you place bets on a match while it is happening, with odds that update live.
Kelly Criterion: Kelly Criterion is a formula that calculates the optimal size of a bet based on your edge and the odds.
Lay Bet: A Lay Bet is a wager that an outcome will not happen, essentially acting as the bookmaker.
Moneyline Odds: Moneyline Odds indicate how much profit you earn from a 100-unit bet, with positive or negative numbers.
Over/Under: Over/Under bets predict whether the total number of goals in a match will be above or below a set figure.
Responsible Gambling: Responsible Gambling refers to practices and tools that help you stay in control of your betting activity.
RTP: RTP stands for Return to Player, a percentage that shows how much of total bets a game pays back to players over time.
Stake: Stake is the amount of money you risk on a single bet.
Value Bet: A Value Bet is when the odds offered are higher than the true probability suggests, giving an edge over the bookmaker.
Volatility: Volatility describes how often and how much a game can pay out; high volatility means bigger but less frequent wins.
Wagering Requirement: Wagering Requirement is the amount of money you must bet before you can withdraw bonus winnings.