Knowledge Base
Glossary
Plain-English definitions for the terminology used across Pitch Notes.
- Arbitrage Betting
- Arbitrage betting exploits differences in odds across bookmakers to guarantee a profit by placing opposing bets on the same event.
- Asian Handicap
- Asian Handicap assigns a half‑goal or whole‑goal advantage to the underdog, eliminating the draw and balancing the matchup.
- Bankroll
- Bankroll is the total amount of money a bettor sets aside for wagering, separate from everyday finances.
- Bet Builder
- Bet Builder is a feature that allows you to combine multiple markets from a single match into one customized wager.
- Cash Out
- Cash Out allows you to settle a bet before the event ends, either locking in a profit or cutting a loss.
- Chalk
- Chalk refers to the favorite in a matchup; betting the chalk means backing the team expected to win.
- Decimal Odds
- Decimal odds show the total return for each unit wagered, including the original stake, making it easy to calculate potential payout.
- Favourite
- The favourite is the team or player expected to win, reflected by lower odds and a smaller potential payout.
- Fractional Odds
- Fractional odds display the profit relative to the stake, expressed as a fraction, commonly used in the UK.
- Juice
- Juice, also called vig, is the commission a sportsbook charges on each bet, built into the odds to ensure a profit.
- Line Movement
- Line movement refers to changes in the odds or spread over time, often caused by betting action or new information.
- Live Betting
- Live betting lets you place bets on a match while it is in progress, with odds that update as the game unfolds.
- Lock
- A lock is a bet perceived as almost certain to win, typically placed when the odds heavily favor one outcome.
- Moneyline Odds
- Moneyline odds indicate how much you must bet to win a set amount, with positive numbers for underdogs and negative for favorites.
- Odds
- Odds represent the probability of a specific outcome happening and determine how much a winning bet will pay out.
- Over/Under
- Over/Under is a bet on whether the total combined score of a match will be higher or lower than a set number.
- Parlay
- A parlay combines multiple selections into a single wager; all picks must win for the bet to pay out, offering higher odds.
- Public Money
- Public money refers to bets placed by the majority of recreational bettors, often influencing line movement toward the popular side.
- Spread
- Spread is the expected margin of victory set by the bookmaker; betting on the favorite means they must win by more than the spread.
- Stake
- Stake is the amount of money placed on a bet, determining the size of potential winnings or losses.
- Steam
- Steam describes rapid, heavy betting on one side that causes odds to shift quickly across multiple sportsbooks.
- Underdog
- The underdog is the team or player expected to lose, offering higher odds and a larger payout if they win.
- Unit
- A unit is a standardized bet size used to manage risk, usually representing a small percentage of the total bankroll.
- Value Bet
- A value bet occurs when the odds offered by a bookmaker are higher than the true probability of the outcome, giving an edge.