Basic dictionary on sports betting
Basic dictionary on sports betting
Understanding the world of sports betting can be difficult if we lack a basic knowledge about the concepts and way of thinking of a professional bettor. That is why we are going to present you a list of simple concepts about different terms that are commonly used in this sector.
You have probably heard from colleagues, on channels or on the Internet, terms such as "yield", "stake", "units", "bank" and you will wonder what do these terms mean? Should I learn them to bet? We already anticipate that they are of vital importance to understand everything better and that is why, in this article, we are going to explain their meaning one by one, leaving the more advanced concepts for the next article.
• Bookmaker / Bookie
Term in English to refer to bookmakers or gaming operators. Ex: Bet365, Luckia, WilliamHill, Betfair...
This term refers to risking a certain amount to the belief that an event will occur, usually in a sporting event. The less likely that such an event occurs, the higher the odd.
• Bankroll / Bank
Amount of money available to bet. It is the sum of all the balances of our bookmakers and wallets destined for it. It should be separated from money for basic or everyday expenses.
It is a way of universally measuring the amount that a tipster invests without indicating an economic amount, so that the gambler can adapt it to his capital or bank. Ex: If I speak of 10 units, it may be 30€ for a person who has a bank of 300€ and for another who has 30€ it will be 3€.
The stake is a numerical scale that indicates the level of confidence that the Tipster has in the bet. Stakes between 1 and 10 are generally used, although it is preferable that there is less variability. Example: From 1 to 3.
Determine how many units to invest in a bet.
Although sometimes it is useful to link it to a percentage unit (stake 1 -> 1%), this feature is not all-rounder. You have to know how to assign the stake according to the Tipster.
Yield in sports betting is a concept that refers to the yield produced by the money wagered, that is, how much net profit is obtained in relation to each unit that is bet or put into play.
This performance is expressed as a percentage.
The market in sports betting is the type of bet that is being made. Ex: Bet on winner, DNB Asian handicap, goal over / under...
There is also talk of liquid and non-liquid markets. A liquid market is one that is generally more popular and allows a greater economic investment, being a non-liquid market quite the opposite.
Example of liquid market: Real Madrid win against Barcelona.
Idle Market Ex: Handicap -2.5 FK Dukla Banská Bystrica.
• Quota / Odd
For each market and selection, the bookmakers assign some odds based on the probabilities. Example: If you estimate that an event occurs once out of every 3 times, the odds will be @3, equivalent to a 33% probability.
For example, betting 1 unit on @3 would return 3 units, that is, 2 units of profit.
The odds usually carry a quantitative reduction that translates into the commission of the bookmaker, so we will never see two bets opposite to @2 respectively, but @1.8 and @1.8 instead for example.
A Tipster is a person or group of people who are dedicated to studying sporting events, looking for the best bets for them and offering, both free and paid, their predictions to their followers.
A Tipster is, in short, a sports betting investment advisor, a guide, someone you are going to trust with your money to get a return.
Your goal as a gambler is to follow the bets that they send you and replicate them in the indicated bookmaker, and their job as a tipster is to make you earn money with their predictions.
• Statistics / Stats
It is the control of each bet that a tipster sends to their followers to build a profile on it. For each bet, the sport, the league, the stake, the odds and the result, among other details, are controlled.
With all this information for each bet and over time, a statistical profile is built with information of great value that allows a detailed study to be carried out.
These statistics must be registered on a trusted website if we want to avoid being deceived.