Betting Glossary

Table of Contents


1X2 – 1X2 betting in football refers to the three possible outcomes of a match: a home team win (1), a draw (X), and an away team win (2). Bettors use this market to predict the result of a match by choosing either a home win, away win, or draw.


Accumulator – When you bet on an accumulator, you combine many wagers into one. For the wager to pay off, each option must win.

Acca Insurance – Only accumulator wagers are eligible for this type of bonus. If your wager fails by only one option, your original stake will be returned.

Asian Handicap – It is one of the most common types of handicap betting in Asia. In situations where one team is significantly better than the other, this form of wagering can help even the score.


Bet – The act of placing money on the outcome of a sporting event.

Bet Slip – All the selections of each wager made are recorded here. Also, the returns on the selections are written out.

Bet Builder – This feature allows you to create bets from scratch across many markets.

Betting Market – It means all types of bets.

Betting Odds – The odds refer to the bookmaker’s price on bets. It determines the payouts on wagers.

Betting Limits – The maximum or smallest amount the bookmaker sets that can be wagered.

Bookmaker – The gambling operator who provides the betting markets and odds.

Both Teams to Score – A prediction that the two teams will score a goal each by the end of 90 minutes.

Both Teams To Score & Win – In this double wager bet, both teams must score, and the team you select must win.


Cash Back Bonus – This is a money-back bonus where the bettor receives back some or all of their original amount if they lose.

Correct Score – A type of bet where you predict the exact game scores.

Corners Match Bet – This refers to a bet on which team will get the most corner kicks in the match.

Cash Out – A feature that lets you secure some profit or part of your wager before the final outcome of the selections on the bet slip.

Clean Sheet – A bet type where you predict which team will not concede any goals in the match.


Deposit methods – The options available to fund and withdraw from your betting account.

Decimal Odds: The odds format is prevalent in most Nigerian betting sites. It is written in decimal form, for instance, 1.40 odds. So if you place a bet of 100, it means you will get a payout of 140.

Draw No Bet – In a draw no bet market, your money is returned if you bet on a winning team and the game ends in a tie.

Double Chance – This is a double bet where you wager on the home team winning, the away team winning, or a draw in a three-way market.


Each-Way Bet– It is a double wager in horse racing when you bet on the horse to win and the position in the race. It is common in golf bets.

Esports: This refers to sports video game competitions that have become very popular on online betting sites.

Enhanced Odds – A popular incentive bookmakers offer with the promise of high odds on selected sporting events and betting markets.

European Handicap – Another popular handicap bet type in Europe that is quite similar to the Asian handicap. It is a type of bet where additional goals are added to the underdog and deducted from the favourite to win.


Fixed Odds – These are specified odds the bookmaker sets on a sporting event at a set time. It means the odds will not change even when the event draws close.

First Corner – A bet type where you predict which team will get the first corner in the football match.

First Half Bet – In this case, you are making a selection on any betting market during the first 45 minutes of the football match.

Fractional Odds – This is an odds format in most European betting sites. Some Nigerian bookies allow you to switch between different odds formats. It is usually expressed in fractions; for instance,  6/1 odds. In other words, you get 600 if you make a 100 bet.

Free Bet – A bonus bet from the betting site which does not involve using your own money.

Full-Time Result – Popularly known as Match Winner (1X2), you can either predict the team to win the sporting event or if it will end in a draw.


Goal scorer – There are different variations of this bet type. You can bet on the player to score first or at any time during the match.


Half Time Result – This is a variation of the Match winner (1X2) bet. You can predict the team to win in the first half of the game or if it will end in a draw.

Half Time Full Time – A bet type where you predict the results during the first half and the full match result.

Half Time Score – It is a variation of the correct score market where you can predict the correct scores for the first half of the match.

Half With Most Goals – Some bookmakers allow bettors to predict which half of the game will get the most goals.


In-Play Betting – It is also referred to as live betting. You can bet on sports in real-time at online betting sites.


Jackpot – A special offer where bettors compete for the biggest prize on correctly predicting selected sports.


Live Betting – Another term for in-play betting. Bettors can bet on the sport as it is happening live.

Live Streaming – Most bookies offer bettors a chance to watch the sports live on their websites using their live streams. This feature works alongside the live betting option.

Loyalty Programme – A promotion, usually a VIP program at online betting sites for existing players or long-term users on the site.


Maximum Bet – The highest amount bettors can withdraw on the betting site.

Minimum Bet – The lowest amount you can request for withdrawal on the betting site. 

Mobile App – Some betting operators offer mobile applications for iOS and Android devices. You can download their apps on your smartphone or tablet device.

Mobile Betting – Placing bets on any mobile platform, whether via the mobile app or mobile website.


No Deposit Free Bet – A free bet given by the bookmaker which does not require you to make any deposit.

No Goal – No goal betting is a type of sports wager where the bettor predicts that no goals will be scored in a given match or time period. In soccer, for instance, this could mean betting that the final score will be 0-0, or that neither team will score during the first half of the game.


Odds – The bookmaker’s estimate or price on the market’s chances of success and the return. It reflects the return you can anticipate on a wager

Oddsmaker – It is whoever determines the odds and is influenced by betting patterns and market forces, not by one person’s perspective.

Over/Under – A bet type determines the number of instances an activity will occur. This betting market is applicable when predicting the total number of goals, corners, and cards in a match.

Own Goal – With an own goal bet, you are betting on whether a team will accidentally score a goal in their own net.


Parlay – Also known as an accumulator bet, where you make a single bet with multiple selections.

Payout – This is the amount you receive when your bet is successful.

Promotion – This is an incentive or bonus from the betting operator for customers using their site. Promotions usually come with terms and conditions, which bettors need to be aware of and understand.

Promo Code – A combination of characters or digits you can enter on a betting site to redeem a bonus.

Punter – Used interchangeably with bettor. The term refers to customers who place bets or gamble.


Quarter Bet: When you make a bet during any  quarter of the basketball game. For instance, you can bet on the winner of the first quarter of the game.


Referral Bonus – A commission the operator gives to customers who refer other bettors to their site. 


Stake – This is another term used for a bet or wager. It means to place a bet on any given event or game.

Special Bets – This refers to a unique bet the bookmaker offers on specific selections.

Sportsbook: It is used interchangeably with terms like sports betting sites, bookmakers, or betting shops. It is a platform where people can place bets on sporting events.


Terms And Conditions – These are the terms of agreement that the betting operator sets. Anyone using the platform is expected to read these rules and are bound by them.

To Score In Both Halves – It refers to a bet on whether a team will score a goal in the first and second half of the match.

To Win Either Half – This is a bet on which team will be the winner in either the first or second half of the match.

To Win Both Halves – Here, you are predicting which team will win the first half and the second half.

To Win From Behind – In this bet type, you are expected to predict if a team will lose by at least one goal initially but eventually win the match.


Underdog: This term refers to the team that will likely not win the football or basketball game.


VAR – An acronym for Video Assistant Referee, which is a match official that reviews the play using the camera footage with the referee to make a decision.

Virtual Sports – These are simulated sports listed on most betting sites.


Wagering Requirement – These are part of the terms and conditions for the bonuses or promotions on the betting site. A player needs to meet these requirements to be able to withdraw the bonus.

Welcome Bonus – Also known as a sign-up offer. It refers to the bonus for new players registering on the betting site.

Win To Nil – Also the same as a clean sheet. It is a bet type where you predict if a team will or will not concede a goal.

Winning Margin – This is the gap or margin with which a team will win over the other.

Withdrawals – This refers to when bettors request to receive their winnings on the betting site.

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