Ultimate Glossary of Online Betting Terms in India

Whether you’re a seasoned bettor or just starting your journey into online betting in India, understanding the terminology is key to making informed decisions and enhancing your experience. This comprehensive glossary is designed to demystify the language of online betting, from common phrases like “odds” and “exchange” to more niche terms like “arbitrage” and “Martingale system.”

Here, you’ll find clear, straightforward definitions and examples to help you confidently navigate the exciting and dynamic world of online betting in India and cover domestic words and phrases.

Bookmark this page as your go-to resource, and never feel lost in the jargon again. Let’s dive in and unlock the knowledge you need to bet smarter and play better!

• Accumulator – A bet that combines multiple selections into one wager, similar to a parlay.
• Accumulator Insurance – A promotion where a bettor gets their stake refunded if one selection in an accumulator bet loses.
• Arbitrage Betting (Arbing) – Placing bets on all possible outcomes of an event across different bookmakers to guarantee a profit.
• Back Bet – Betting for an outcome to happen in a betting exchange.
• Bankroll – The total amount of money a bettor has set aside for betting.
• Bet Slips – A digital or physical record of the bets placed by a punter, detailing selections, stakes, and potential payouts.
• Betting Exchange: It is a platform where users can bet against each other rather than against a traditional bookmaker.
• Bet Boost – A promotion where bookmakers increase the odds on a specific selection for better potential winnings.
• Bet Builder – A feature that allows bettors to create a custom bet by combining multiple selections within a single match.
• Bonus – An incentive offered by betting platforms, such as free bets or deposit matches, to attract users.
• Bookie – A person or entity that accepts and pays out bets on sporting events, including cricket matches.
• Cash Out – An option to settle a bet before the event concludes, often at a reduced payout.
• Chasing Losses – The practice of increasing bets to recover previous losses is often considered risky behaviour.
• Cover Bet – A bet that ensures a bettor doesn’t lose money by placing multiple wagers to reduce risk.
• Dead Heat – When two or more participants tie, the payout is divided among the winners.
• Deposit Bonus – This is a type of promotional offer from a bookmaker where they match a percentage of your deposit with bonus funds.
• Drift – When the odds of a particular outcome increase over time, indicating reduced confidence in the market.
• Double Chance – A bet that covers two out of three possible match outcomes (e.g., Team A wins or draws).
• Edge – An advantage a bettor has over the betting site or bookie, often through superior knowledge or analysis.
• Enhanced Odds – A promotion where bookmakers temporarily increase the odds on certain bets to attract bettors.
• Expected Value (EV) – A statistical measure that represents the long-term profitability of a bet.
• Fancy Bet – A type of bet where the odds are not fixed and are determined by the bookie or market demand.
• Fixing Rate – The predetermined odds or outcome in a manipulated or fixed match.
• Free Bet – Type of promotional offer given by a bookmaker that allows you to place a bet without risking your own money. If the bet wins, you usually receive only the winnings (not the stake). If the bet loses, you don’t lose any real money.
• Futures Bet – A bet placed on an event that will occur in the future, such as the winner of a tournament.
• Handicap Betting – A type of bet where one team is given a virtual advantage or disadvantage to level the playing field.
• Half-Time/Full-Time Bet – A bet that predicts the result at both half-time and full-time of a match.
• Hedging – Placing bets on opposing outcomes to guarantee profit or minimise loss.
• Juice (or Vigorish/Vig) – The commission or margin charged by a bookmaker on bets.
• In-Play Betting – Another term for live betting, where bets are placed during the course of a match.
• Innings Bet – A bet placed on the performance of a team or player in a specific innings.
• Jackpot – A large payout or prize for correctly predicting multiple outcomes in a single bet.
• Lambi – A long-term bet or a bet placed on a future event.
• Lay Bet – Betting against an outcome happening on a betting exchange. You essentially act as the bookmaker, accepting someone else’s back bet.
• Line – The betting market or range of odds offered for a specific event.
• Live Betting – Placing bets on a match while it is in progress, with odds updating in real-time.
• Margin – The percentage or amount kept by the bookie as profit, built into the odds.
• Market Movers – Bets where the odds shift significantly due to betting activity or insider information.
• Martingale System – A betting strategy where a bettor doubles their stake after each loss to recover previous losses.
• Match Fixing – Illegal manipulation of a match’s outcome for financial gain.
• Matka – A form of gambling that originated in India, sometimes associated with cricket betting.
• Multi Bet – A bet that combines multiple selections, similar to a parlay.
• Patent Bet – A bet consisting of three selections and seven bets: three singles, three doubles, and one treble.
• Pick’em (Pick ‘Em Game) – A betting scenario where both teams have equal odds, making it a 50-50 choice.
• Point Spread- A bet on the margin of victory.
• Odds – The probability or likelihood of a specific outcome in a match, expressed in numerical or fractional form.
• Outright Bet – A bet placed on the overall winner of a tournament or series rather than a single match.
• Over/Under – A bet on whether the total runs scored in a match or session will be over or under a specified number.
• Parlay (or Parley) – A single bet that combines multiple individual bets, where all selections must win for the bet to pay out. Higher risk but offers larger payouts.
• Prop Bet (Proposition Bet) – A bet placed on a specific event within a match, such as the number of wickets a bowler will take or the number of sixes hit by a batsman.
• Punter – A person who places bets, often used to describe a regular bettor.
• Push – When a bet results in a tie, and the stake is refunded to the bettor.
• Rate – The odds or price offered for a particular bet.
• Rollover – A requirement to bet a certain amount of money before being able to withdraw winnings, often associated with bonuses.
• Round Robin – A series of parlay bets that cover all possible combinations of a selected group of bets.
• Satta – A colloquial term for betting or gambling, often used in the context of cricket betting in India.
• Satta Bazaar – Local betting market operating in India.
• Session Bet – A bet placed on the outcome of a specific session of a match, such as runs scored in a set number of overs.
• Spread Betting – A type of bet where winnings or losses depend on how accurate a prediction is rather than just whether it’s right or wrong.
• Single Bet – A bet placed on a single outcome or event.
• Super Yankee – A multiple bet covering five selections with 26 individual bets.
• Sure Bet – A situation where a bettor can guarantee a profit by placing different bets on all possible outcomes.
• Stake – The amount of money a bettor places on a particular bet.
• Trixie Bet – A bet with three selections and four bets: three doubles and one treble.
• Teaser Bet – A type of parlay where the bettor can adjust the point spread or totals in their favour, but for reduced odds.
• Tipster – A person or service that provides betting tips or match predictions.
• Toss Bet – A bet placed on the outcome of the coin toss before a match begins.
• Underdog – The team or player considered less likely to win, often with higher odds.
• Void Game – A game that is cancelled or postponed, resulting in bets being refunded.
• Value Bet – A bet where the probability of an outcome is higher than what the odds suggest, offering good value to the bettor.
• Void Bet – A bet that is cancelled and refunded, often due to unforeseen circumstances like an abandoned match.
• Whale – A high-stakes bettor who wagers large amounts of money on games.
• Wager: It is a bet or the amount of money placed on a particular outcome in gambling or betting.
• Wagering Requirement – It is the number of times a player must bet their bonus (or bonus + deposit) before they can withdraw winnings.

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