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Betting Explained
Betting Exchanges Explained

The glossary of Betting Terms

 

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Do a 'Ctrl F' search on this page as a fast way to find the betting term you want explained.

 

Single Bets

What is a Win Bet?

What is a Place Bet?

What is a Show Bet?

What is a Single Bet?

What is an each-way bet?

 

Place Terms

What are place terms?

How are place terms decided for UK horse racing?

What if I bet Each-Way and the event becomes Win Only?

 

Multiple bets

What is a double?

What is a treble?

What is an accumulator (or acca)?

What is a parlay?

What is a Teaser bet?

What is a Patent or Twist?

What is a Trixie?

What is a Yankee?

What is a Lucky 15?

What is a Super Yankee?

What is a Lucky 31?

What is a Heinz?

What is a Lucky 63?

What is a Super Heinz?

What is a Goliath?

Scoop 6 Explained?

 

Forecasts:
What is a forecast?

What is a straight forecast?

What is a computer straight forecast or CSF?

What is a reverse forecast?

What is a combination forecast?

What is a tricast?

What is a combination tricast?

 

Types of betting odds

What is a Starting Price or SP bet?

What  are live shows or Board Prices?

What are Early Prices?

What is Fixed Odds betting?

What is Ante-Post betting?

What is Futures betting?

What is Tote betting?

What is Pool betting?

What is Pari-Mutuel betting?

 

Rule 4

What is Rule 4?

Can Rule 4 apply to anything other than horse or dog racing?

 

Dead-Heats

What are the Dead-Heat rules?

 

Other types of betting

Betting Exchanges explained?

 

A betting exchange is where bets placed and layed by individuals are matched against each other.

This means if one person wants to back a horse at 12/1 for £5 then they can place that 'Back Bet' order and wait for someone else to take the bet. The person who takes the bet is called a 'layer' because they 'lay' the bet in identical fashion to a bookmaker. The layer is in fact being the bookmaker.

Because betting exchanges allow this person-to-person betting, anyone using a betting exchange is able to either back a selection, in the usual way, or lay a bet. It lets you become a bookmaker for your chosen selections, yet you do not need to have a bookmaker's licence to be allowed to do this.

Betting exchanges give you the facility to trade on sporting events and so lock-in a profit. It allows you to take advantage of arbitrage situations by say backing a horse at 10/1 and then laying it at 6/1 (assuming the price contracts) so as to ensure yourself a profit whether the selection wins or loses.

All we have given you here is a brief explanation of the workings of a betting exchange and how it could benefit you and your betting regime. There is an excellent website that explains betting exchanges in fine detail: what they are, how they are used, how to profit from them and it also lists a betting exchanges FAQs section. If you read that website then there you will have a fine grounding and be ready to start trading on a betting exchanges. Just follow this link: Betting Exchanges.

The biggest betting exchange in the world is the multi-award winning Betfair betting Exchange.

 

 

 

 
 
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