Knowledge Base
Glossary
Plain-English definitions for the terminology used across Fan Strategy.
- Arbitrage
- Arbitrage exploits differing odds between bookmakers to guarantee a profit regardless of the outcome.
- Asian Handicap
- Asian Handicap splits the point spread into two handicap values, eliminating the draw and offering two possible outcomes.
- Bankroll
- Bankroll is the total amount of money you have set aside specifically for placing bets.
- Bankroll Management
- Bankroll Management is the strategy of controlling how much you bet to protect your funds over time.
- Bonus Rollover
- Bonus Rollover is the number of times you must wager a bonus amount before you can withdraw any winnings.
- Both Teams To Score
- Both Teams To Score is a bet on whether each side will score at least one goal during the match.
- Cash Out
- Cash Out lets you settle a bet before the match ends, locking in a profit or cutting a loss.
- Closing Line
- Closing Line refers to the final odds available just before a match starts, often used to measure betting skill.
- Cover
- Cover means a team beats the point spread, winning the bet for those who backed them.
- Expected Value
- Expected Value estimates the average profit or loss you would make per bet if repeated many times.
- Juice
- Juice is the commission or fee a bookmaker includes in the odds, meaning the total implied probability exceeds 100%.
- Kelly Criterion
- Kelly Criterion is a formula that calculates the optimal percentage of your bankroll to wager based on your edge.
- Live Betting
- Live Betting allows you to place bets on a match while it is in progress, with odds that update during play.
- Moneyline
- A Moneyline bet is a wager on which team will win the match outright, with no point spread involved.
- Odds
- Odds represent the likelihood of an outcome and determine how much you can win if your bet is correct.
- Over/Under
- An Over/Under bet predicts whether the total number of goals or points in a match will be higher or lower than a set figure.
- Parlay
- A Parlay combines multiple selections into one bet; all selections must win for the bet to pay out.
- Push
- A Push happens when a match result lands exactly on the point spread, resulting in all bets being refunded.
- Responsible Gambling
- Responsible Gambling involves using tools and setting limits to ensure betting stays safe and within your means.
- Round Robin
- Round Robin creates multiple smaller parlays from a list of teams, covering various combinations to spread risk.
- Spread
- The Spread is a handicap given to the underdog to make the betting more balanced between the two teams.
- Unit
- A Unit is a standard bet size, usually expressed as a percentage of your bankroll, used to manage risk.
- Value Bet
- A Value Bet occurs when the odds a bookmaker offers are higher than the true probability of the outcome.
- Void Bet
- A Void Bet is canceled and stakes are returned, usually because a match was postponed or a rule was broken.