Betting Terms And Their Meaning (part 3)

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Half time bet: A bet placed on the half time result.  
Half time result:A bet that involves the Punter correctly predicting the result of a match at half time.

Handicap: A system used by bookmakers to make an event whose result appears to be one sided become attractive again for betting on. For example, the weaker team may start with a one goal advantage. Known as the Spread in US sports. For fractional handicaps (0.5, 1.5 etc.), there is no possibility of a draw. If the margin of victory is same as the quoted handicap, all bets on the selected team will lose. 

Heinz: A Heinz is a form of bet that consists of 57 bets involving 6 selections in different events. The bet includes 15 doubles, 20 trebles, 15 fourfolds, 6 fivefolds and an accumulator. A minimum of 2 of your selections must be successful to get a return. 

IBAS: Independent Arbitration Betting Service. An arbitration service which was launched to deal with betting disputes between punters and bookmakers. 
Lay:  To place a bet. 
Line: The current odds on a particular event or match.
Long-shot: A team perceived unlikely to win.  
Lucky 15: A Lucky 15 is a form of bet that consists of 15 bets involving 4 selections in different events. The bet includes 4 singles, 6 doubles, 4 trebles, and 1 fourfold. If only one selection wins, as a consolation returns are paid to double the odds. If all four selections win, a bonus of 10% is added to total returns. For the bonus to apply, all selections must win (none void). For each-way bets the consolation is paid only on the win part of the bet. Lucky 15 bets are accepted on horse racing and greyhounds only. Also Lucky 31 and Lucky 63 exist 
Monkey:Bookmakers slang for £500.  
Multiples:Another term for Accumulators. Multiple bets involve more than one selection.
Nap: A punter’s best bet of the day.  
No action: A bet where no money is lost or won. Normally seen in draw no bet 
Odds: Also referred to as the price. It simply means the returns a bookmaker offers for a selection to win.  
Outsider: The opposite of a favourite. The under-dog. 
Over: A form of bet where a punter predicts the total number of goals in a football match to be above a particular number. A commonly available over/under bet available in football is over/under 2.5 goals. Some bookmakers like to introduce an extra outcome to the book. 3 outcomes might include: fewer than 2 goals; exactly 2 goals; and more than 2
Parlay: The US term for an accumulator. 
Patent: A Patent is a form of bet that consists of 7 bets involving 3 selections in different events. The bet includes a single on each selection, plus 3 doubles and 1 treble. Just one successful selection guarantees a return.  
Permutations or Perms: There is a way to find 7 bets from only 3 selections. Consider the following 3 selections: Chelsea to beat Norwich at 1.35, Liverpool to beat Manchester city at 2.30, Southampton to beat Tottenham 3.05, each selection can be taken as a single match bet. Secondly, there is one treble available at odds of 9.47, calculated by multiplying together the odds for each of the 3 singles. However, there are also 3 doubles available too, by “perming” any 2 games from the 3 selections. Such a series of bets is commonly known as a ‘Patent’, or a ‘Trixie’ if the singles are left out leaving only 4 bets. The greater the number of selections to choose from, the greater the number of combinations available. Combinations are not, of course, restricted to doubles. If we wish to choose from 4 matches, there are 6 combinations of doubles and 4 combinations of trebles available, in addition to 1 fourfold and 4 singles.

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