Football betting terms explained
Simple definitions for the concepts used across the calculators and guides.
Accumulator
A single bet containing several selections; every leg normally must win.
Arbitrage
Prices that can theoretically produce a positive return across all covered outcomes.
Bankroll
Money reserved specifically for betting and separated from essential spending.
Bookmaker margin
The amount by which a complete market's implied probabilities exceed 100%.
Break-even rate
The win percentage required to avoid a gross loss at a given average price.
BTTS
Both Teams To Score.
Closing line value
A comparison between the price taken and the final market price.
Decimal odds
The total return per unit staked, including the original stake.
Drawdown
The fall from a previous bankroll peak.
Dutching
Splitting a stake across outcomes to target similar returns.
Expected value
The estimated average profit or loss from repeated comparable decisions.
Fair odds
Odds corresponding to a probability without bookmaker margin.
Flat staking
Using the same monetary stake on every bet.
Implied probability
The probability represented by odds: one divided by decimal odds.
Kelly criterion
A formula linking stake size to estimated edge and odds.
No-vig probability
Probability normalized so the complete market totals 100%.
Overround
Another name for bookmaker margin.
Poisson distribution
A model often used to estimate football goal counts.
ROI
Net profit divided by settled stake.
Strike rate
The percentage of decided bets that win.
Value bet
A price higher than the fair price implied by a reliable estimate.
Variance
Short-term fluctuation around a long-run expectation.