Betting Terms and Their Meaning

Betting has its own set of terms, and it is important to know sports betting terms and their meaning. So in this article, we list the sports betting terms and their meaning and how the best betting sites in Nigeria use them.

Sports Betting Terms

Here are some sports betting terms and their meaning.

Sports Betting Terms


1×2 is the match-winner market and is the most popular betting market for almost every sport. For some sports like football, it is a 3-way market with 3 predictions, 1 for a home win, X for a draw and 2 for an away win. But for games like tennis or basketball that don’t have the option for a draw, it is just a 2-way market.


Accumulator bet, also known as β€˜Acca’, is a term for a bet slip that contains more than one prediction. For example, an accumulator bet with just two bets is called a double, and with three bets, it is called a treble. The outcome of an accumulator bet is the multiplication of all the odds on the slip with the stake.

Anytime Goalscorer

Anytime goalscorer is a betting market where you predict the goalscorers in a match. In anytime goalscorer betting, the goal can come at any time, and the bet will still count because it is an anytime goalscorer market.

Asian Handicap

Asian handicap is a type of handicap betting where you give a virtual advantage to the underdogs or a virtual disadvantage to the favourites to balance the outcome of the game. But the difference in Asian handicaps is that fractional goals are allowed, which eliminates the possibility of a draw.

Both Teams to Score

Both teams to score or BTTS is a betting market to predict whether the two teams will score or not. There are two options: YES, or NO. If you choose the β€˜Yes’ option, you are betting the two teams will score. However, the β€˜No’ option means you are betting that one or none of the teams will score.

Correct Score

The correct score is a betting market where you predict the final score of a sporting event. Due to the difficulty of predicting the correct score of a game, you will always see high odds in this market.

Double Chance

Double chance is a betting market where you bet whether the team will win or draw. For example, 1X is home team win or draw, X2 is away win or draw. Finally, the β€˜12’ option predicts either the home team wins without a draw option.

Draw No Bet (DNB)

This betting market rules out a draw. For example, if you bet on a home win in a DNB market, your stake is split into two; the first half goes to the home win and the other half to a draw. If the home team wins, the bet is successful; if the match ends in a draw, you get back half of your wager; if the away team wins, you lose your bet.

Each Way Bet

Each way bets are normally placed in the horse and greyhound racing market. An each-way bet is two bets in one. The first bet is that your selection must win the competition, and the second bet is the prediction of the position of the dog or horse in the rankings.

Half-time/full time

The half-time/full-time market is a betting market with options to bet on what happens in each half. It can be over/under half-time/full-time, correct score half-time/full-time, or the simplest, 1×2 half-time/full-time.


The handicap market is a betting market where an artificial advantage is given to the weaker team and a disadvantage to the favourite. This is mainly done to level the playing ground. For example, in football, you can give the underdog a 1 to 5 goals advantage; the other team will have to win over the advantage to win the bet.

Head-to-head Betting

Head-to-head betting is to individual sports what the match-winner market is to team sports. In sports events like Nascar racing or Golf, the major betting market is the outright winner market. But head-to-head betting will pit two contenders against each other, and you can now bet on the player that will perform better.

Laying Points

Laying the points is what you do when you bet on the favourites to win. So, when you lay points, you bet the favourite team wins, and your bet wins when they win with points greater than the point spread.

Lucky 15

Lucky 15 is a systems bet type where you combine bets from 4 selections to have 15 wagers. So, in the end, you have 4 singles, 6 doubles, four trebles, and a four-fold accumulator.

Outright Bet

An outright bet is a bet on the overall winner of a league, tournament or tour. So, for example, the outright bet on the NFL predicts the Super bowel’s final winner.

Over 2.5 Goals

Over 2.5 goals is a betting market where you predict whether a match will end in 3 goals or more. There are only two predictions in this market: Yes or No. There are other variations of the over 2.5 goals market, like the first half over 2.5, where you predict that the first half of the game will end in 3 or more goals.


Over/under is a total goals market. In this market, you predict whether the match will end above or under a specified number of goals. There are several markets under it from 0.5 to 4.5, even though on some bookmakers, you will see the over/under market up to 6.5 goals.


Parlay is another name for accumulators or multi-bets. For example, in a parlay bet, there are multiple wagers in one bet slip, and to parlay simply means turning over the winning from one game to another. So a parlay only wins when all the wagers in the slip win.

Spread Betting

Spread betting is usually used in basketball and American football because of the disparity in their final scores. In spread betting, you are betting on the margin the winning team will win with and, at the same time, the margin the losing team will lose with. The good thing about spread betting is that if the two teams match themselves and the game margin falls on the spread, you get your stake back.

Quinella Bet

A Quinella bet is a betting prediction for horse and greyhound racing. The prediction means you bet on two dogs or horses to finish first and second positions in any order. For this bet to pay out, the two horses must win; if one of the horses misses out on the first two, you lose your bet.

Value Bet

A value bet is a bet where the probability of the prediction is higher than the odds on the betting site. So that means your chances of winning are higher than the bookmaker’s probability of putting on the event. To know whether an event has a value bet or not, you have to calculate the actual probability of the event and compare it to the odds on the bookmaker.

Win to Nil

In the win-to-nil market, you are betting that the team wins and doesn’t concede many goals. These outcomes must happen for you to win the bet.

Sports Betting Terms FAQ

We have come to the end of this article about sports betting terms and their meaning. If you can’t remember all the terms, there is no need to worry, and you can always refer to this sports betting glossary. On a final note, we have attempted to answer some questions asked about sports betting terms.

How to understand betting terms?

Sports betting terms are usually used in betting forums online. If you join one, you will learn the sports betting terms and their meaning.

What is a betting selection?

A betting selection is the list of games you have made predictions on.

What’s a Trixie in betting terms?

A Trixie is a system bet on three selections to get 4 wagers. So the Trixie is 3 singles and a three-fold accumulator.

How do you read a betting line?

A betting line uses the positive(+) and negative (-) signs to represent odds. For example, reading a positive betting line odd means the payout amount when you bet with the odds is ₦40,000, while the negative betting line odd means that if you bet ₦40,000, the payout will be the odds number.

What does minus mean in betting?

A minus line is used when the Moneyline odd format depicts odds.Β 

What does lay mean in betting terms?

Lay is when you bet on a team or individual (in individual sports) not to win.