Sports Betting Terminology
Sports betting is predicting sports results and placing wagers on the outcome. There are different ways to place your bets, from oddset, “pools” games to result betting.
Sports betting terminology
Sports betting is a very important part of the gambling industry. A majority of the EL members offer sports betting products from Toto “pools” games to oddset products.
Oddset is sports betting with fixed odds where you compete against the betting operator. If the predictions are correct the odds are first multiplied with each other and then with the amount of the stake.
Full time result
The most common football bet is on the match result – 1-x-2. In that kind of bet the player has to predict the end-result of a game. The player predicts whether the result at the end of the normal game-time will be one out of three options: a win for one team, a win for the other team or a draw.
Total goals under/over
This is a two-way option. The player’s bet is whether there will be more or less than the number of goals quoted. In a football match it can be seen as 0.5, 1.5, 2.5 etc. Here as well, the score at the end of the normal game-time is taken into account.
This is predicting the score at the end of the normal game-time. Scores are often quotes as “home team score – away team score” so be sure to check your coupon that it is the way you want it.
There are many possible score lines for a match so in this bet type you can often find quite high odds.
Half time/full time
This is to predict the result of half time and full time in the same bet. So there are nine possible results for this bet.
First goal scorer
This is to predict who will score the first goal in the match. A normal own goal also counts as the first goal scorer. If you place your money on a substitute and he was on the bench when the first goal was scored it is often that you get your money back.
This is often used when there is a big favourite. In that case the other team can get one or more goals ahead.
Normal time definition for bets
Almost all bet types are based on what is happening in the normal time. For example a football match often includes a couple of minutes added time, making it last more than 90 minutes, which is considered normal time. The normal time however excludes extra time and penalties, which can be played if a game ends in a draw after normal time.
Toto “Pool” games
Toto or pools games are pari-mutuel games, mainly on the outcome of a number of football matches. There are three kinds of toto style games: 1-x-2 betting, select betting and result betting.
This is a very traditional game which is popular in many countries. Here the challenge is to predict a number of football matches, typically between 12 and 16. Home win means “1”, draw means “X”, and away means “2”.
The object of this game to pick some – for example 6 – matches out of a list of – for example 45 – matches. “Draw betting” means that the punters have to predict the draw matches, “Goal betting” means that the punters have to pick the matches with the highest number of goals. In Europe, select betting is not as popular as 1-X-2- betting.
Here the punters have to predict the exact score of some – for example 4 – football or other sport matches.
What does “Pari-mutuel” mean?
Pari-mutuel means that the payout percentage of the game is fixed, for example 50%. The same principle is applied in most Lotto games. This means that prizes for the winners are not fixed, they depend on the whole income of the game, on the payout percentage and on the number of winners in the different prize categories. That means that “the betters are playing against each other”; there is no financial risk for the betting operator.