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 amount needed to win $100.
- Asian Handicap
- A handicap that gives one team a fractional goal advantage or disadvantage to eliminate draws.
- Bankroll
- The total amount of money you have set aside for betting.
- Both Teams to Score
- A bet on whether each team will score at least one goal during the match.
- Cash Out
- A feature that lets you settle a bet before the match ends, locking in a profit or limiting a loss.
- Closing Line
- The final odds offered just before a market closes, often used to measure betting performance.
- Decimal Odds
- Odds expressed as a single number that includes your stake; multiply your stake by this number to get total payout.
- Double Chance
- A bet that covers two possible outcomes of a match (e.g., home win or draw).
- Flat Staking
- A strategy where you wager the same amount on every bet, regardless of confidence.
- Fractional Odds
- Odds shown as a fraction; the numerator indicates profit, the denominator indicates stake.
- Goal Line
- The total number of goals a bookmaker expects in a match, similar to Over/Under but often set at a whole number.
- Implied Probability
- The chance of an outcome as calculated from the odds, expressed as a percentage.
- In-Play
- Bets placed after the match has started, with odds that update as the game progresses.
- Juice
- The commission or fee that the bookmaker adds to the odds, usually reflected in the spread or line.
- Kelly Criterion
- A mathematical formula that calculates the optimal size of a bet based on your edge.
- Moneyline
- A bet on which team will win the match, with odds shown as a positive or negative number.
- Odds
- The number that tells you how much you can win relative to your stake.
- Over/Under
- A bet on whether the total number of goals in a match will be more or less than a set figure.
- Parlay
- A single bet that combines multiple selections; all must win for the bet to pay out.
- Prop Bet
- A wager on a specific event within a match, such as which player scores first.
- Spread
- A points margin set by the bookmaker that the favored team must cover for the bet to win.
- Stake
- The amount of money you risk on a single bet.
- Unit
- A standardized bet size used to manage risk, often a small percentage of your bankroll.
- Value Bet
- A bet where the odds offered are higher than the true probability suggests the outcome is worth.