Knowledge Base
Glossary
Plain-English definitions for the terminology used across Fan Strategy.
- American Odds
- Odds displayed as a positive or negative number; positive shows profit on a $100 bet, negative shows how much you must bet to win $100.
- Arbitrage
- Placing bets on all possible outcomes of an event across different sportsbooks to guarantee a profit regardless of the result.
- Asian Handicap
- A spread bet that eliminates the draw outcome and gives a half‑goal or quarter‑goal handicap to teams.
- Bankroll
- The total amount of money you have set aside for betting.
- Bonus
- Extra funds added to your account, often matched to your deposit, but requiring you to meet conditions before withdrawing.
- Cash Out
- A feature that lets you settle a bet before the match ends, locking in a profit or limiting a loss.
- Decimal Odds
- Odds expressed as a single number (e.g., 2.50) that includes your stake in the total payout.
- Edge
- The statistical advantage you have over the sportsbook’s odds in a given wager.
- Fractional Odds
- Odds shown as a fraction (e.g., 3/2) that indicates how much profit you’ll make relative to your stake.
- Free Bet
- A bonus bet credit you can use to place a wager without using your own money, usually with certain conditions.
- In-Play Betting
- Placing bets on a match while it is already in progress, with odds that update as the game unfolds.
- Juice
- The commission or fee that the sportsbook takes on a bet, often built into the odds.
- Kelly Criterion
- A mathematical formula that calculates the optimal percentage of your bankroll to risk on a bet.
- Line Movement
- The change in odds or point spread from when the bet opens to when it closes, often caused by betting action.
- Moneyline
- A bet on which team will win the match, with odds shown as a positive or negative number.
- Over/Under
- A bet on whether the total number of goals scored in a match will be higher or lower than a set number.
- Parlay
- A single bet that links multiple selections; all must win for the bet to pay out, offering higher odds.
- Point Spread
- A handicap given to the favorite team to level the playing field, requiring them to win by a certain margin.
- Prop Bet
- A wager on a specific event within a match, such as which player scores first or how many yellow cards are given.
- ROI
- Return on Investment; the net profit or loss from your bets expressed as a percentage of the total amount wagered.
- Unit
- A standardized bet size, often a small percentage of your bankroll, used to manage risk.
- Value Bet
- A bet where the odds offered are higher than the true probability of the outcome, giving you an edge.
- Wagering Requirement
- The number of times you must bet the bonus amount before you can withdraw any winnings.