The Complete Matched Betting Glossary: Essential Terms Explained

Let’s face it – matched betting comes with its own language that can feel like gibberish when you’re just starting out. Don’t worry, I’ve been there! When I first saw terms like “gubbed” and “dutching,” I was completely lost.

I’m going to break down all the essential matched betting terminology in plain English so you can focus on making those sweet, sweet profits instead of scratching your head over the jargon.

Acca – Accumulator – A bet combining multiple selections where all must win to get paid. The odds multiply together for potentially bigger returns. Perfect for matched betting with acca insurance offers – where bookies refund you if one leg loses.

AP – Advantage Play – Using mathematics and strategy to gain an edge in gambling, usually on casino offers. Not gambling, but calculated +EV plays that guarantee profit long-term. Essential approach for maximizing value from casino bonuses and free spins.

Ante Post – Betting on events well in advance, often with higher odds but no refund if your selection doesn’t participate. These early markets require careful matching but can offer excellent value when combined with Best Odds Guaranteed promotions.

Arbing – Short for arbitrage betting. Finding opportunities where the back odds are higher than the lay odds, creating a guaranteed profit without needing free bets.

Availability – The amount of money waiting to be matched at a betting exchange at specific odds, also called liquidity. Essential for successful matched betting – low availability means you may not get your full stake matched or have to take worse odds, reducing your profit.

Back Bet – This is your traditional bet that everyone’s familiar with. You’re betting FOR something to happen (e.g., “I bet Manchester United will win”). You place back bets at bookmakers.

BBH – Beaten by a Head – When your horse loses by the smallest margin in racing – literally just a horse’s head! Heartbreaking for regular punters but matched bettors don’t care. Great for those “money back if beaten by a head” insurance offers from bookies!

BBL – Beaten by a Length – Your selection finishing one horse length behind the winner. About 8-9 feet in flat racing. Perfect for those “money back if beaten by under 1 length” promotions.

BBN – Beaten by a Neck – Your horse finishing just a neck behind the winner – slightly more than a head but still agonizingly close! Another key trigger for bookmaker insurance offers.

Best Odds Guaranteed (BOG) – A promotion offered by bookmakers where if the starting price (SP) is higher than the odds you took, you’ll be paid at the higher odds.

Betslip – Where your selections go before placing a bet. Like a digital betting receipt. Always triple-check your stakes and odds here – one misplaced decimal point can wreck your carefully calculated matched bet!

Betting Exchange/Exchange – The matched bettor’s best friend! Places like Smarkets where you can lay bets against outcomes. The missing puzzle piece that makes matched betting possible. Lower commission = higher profits, so shop around! We recommend Smarkets over Betfair.

Bookie – Bookmaker – The companies that offer odds on sporting events. They’re in the business of making money from punters, but we’re smarter! Their promotions and free bets are where we extract our guaranteed profits.

Boom – That magical word you’ll see all over matched betting forums when someone hits a big win! Our community’s way of celebrating profits, whether it’s your extra place horse romping home or a casino offer paying out big. When you see those sweet profits land – BOOM!

Bot Topping Up – Using automated software to keep your exchange balance topped up for optimal matched betting. Essential for serious profit hunters! Lets you lay off bets without manually transferring cash between accounts. Work smarter, not harder!

BTTS – Both Teams To Score – Simply bet on whether both teams will score in a match. No need to predict the winner! Perfect market for those “money back if one leg lets you down” acca insurance offers. Easy to match and understand.

Bust Out – When your casino bonus wagering goes horribly wrong and you lose all your funds before completing the rollover requirements. Part of the EV game! Don’t sweat individual bust outs – with the right low-variance strategy, you’ll win more than you lose in the long run.

Cash Out – The bookies’ way of tempting you to settle a bet early. Sometimes a goldmine for matched bettors when the cash out value exceeds your lay liability! I’ve grabbed plenty of guaranteed profits by cashing out at just the right moment.

Commission – The fee charged by betting exchanges on winning lay bets (usually 2-5%). This is how exchanges make their money.

CS – Correct score – One of the toughest markets to predict but with juicy odds to match! Betting on the exact final score like Liverpool 2-1 Man City. Great for offers like “money back if a goal scored after 80 mins.” Higher qualifying losses, but bigger free bet potential!

DD/HH – Double Delight/Hatrick Heaven – Betfred’s legendary offer that pays double or triple odds if your first goalscorer nets twice or bags a hat-trick! One of the most profitable ongoing promotions in matched betting. Just lay the player normally and hope they score multiple times!

Dead Heat – When two or more selections tie for a position. Your stake gets divided by the number of winners, cutting your payout. A £10 bet in a two-way dead heat? You’re only paid on £5!

Double – Two selections combined into one bet, where both must win for you to get paid. The odds multiply together for bigger returns, but the risk skyrockets! Perfect for those “acca insurance” offers once you’ve mastered the basics of matched betting.

Draw No Bet – The safety net of football betting! Your stake is returned if the match ends in a draw. It’s like backing a team with built-in insurance. Lower odds than a straight win bet, but great for minimising qualifying losses.

Drift – When odds increase (or “drift out”) before an event starts. Usually happens when money pours in on other selections. Exploiting drifts with Best Odds Guaranteed is one of my favorite ways to extract value without any extra effort!

Dutching – A technique where you back multiple outcomes across different bookmakers to guarantee a profit. Used in countries without betting exchanges or for specific promotions.

Each Way Arbing – The holy grail for horse racing matched bettors! When the place part of an each-way bet offers guaranteed profit regardless of outcome. Spot these when exchange place odds are much lower than the bookmaker’s. Subtle but incredibly profitable once mastered!

EW – Each-Way Betting – A bet consisting of two parts: one for the selection to win and one for it to place (finish in top positions). Can be matched separately.

Enhanced Odds – Bookies artificially pumping up prices to ridiculous levels for new customers. “50/1 for Liverpool to win” instead of the regular 1.8! They’re basically throwing free bets at you to sign up. One of the easiest ways to bag some quick profit!

EP – Extra Place Offers – Promotions where bookmakers pay out on more places than standard. A lucrative opportunity for matched bettors.

EV (Expected Value) – The average amount you can expect to make from a bet over time. Positive EV (+EV) bets are profitable long-term.

FB – Free Bet – Schemes run by bookmakers that reward regular bettors with free bets each week.

FGS – First Goalscorer – One of the most popular football markets around. Bet on who’ll score the opening goal. Great odds but high risk in traditional betting. Perfect for matched betting refund offers – you know, the “money back if your player scores second” deals!

FPTP – First Past the Post – The traditional way of settling bets – first horse to cross the line wins, regardless of any subsequent disqualifications. Some bookies pay on both FPTP and the official result – absolute gold for matched bettors!

FS – Free Spins – Casino bonuses that let you spin slots without using your cash. Usually part of welcome offers or loyalty rewards. Lower value than free bets but easier to get. Look for low-wagering or wager-free versions whenever possible!

FT – Full Time – The final result after the standard playing time (90 minutes in football, plus injury time). Not including extra time or penalties! Always check terms carefully – many offers specify FT only, and that’s caught out plenty of newbies.

Gubbed – When a bookmaker restricts your account from promotions or limits your stakes. Being gubbed means you can still bet, but you won’t receive free bets or other offers anymore. The biggest disappointment in matched betting!

HT – Half Time – The midway point in a match, commonly used in football betting markets. Important for specific promotions like “money back if team scores in second half” or when laying off “first half” bets. Always check if offers refer to HT score or require specific timing.

HT/FT – Half Time/Full Time – A popular market where you predict the result at both half time and full time. Higher odds due to difficulty, but excellent for trigger bets on qualifying offers. Nine possible combinations make this a complex but potentially profitable option.

KO – Kick Off – The start time of a sporting event. Crucial for matched bettors as odds often fluctuate dramatically close to KO. Getting your bets on early typically secures better matches, though sometimes waiting until just before KO reveals value opportunities.

KO – Knockout – In combat sports and tournament formats, referring to either a knockout victory or the elimination stages of a competition. Context matters for betting purposes, especially when matching bets on boxing or UFC promotional offers.

Lay Bet – The opposite of a back bet. You’re betting AGAINST something happening (e.g., “I bet Manchester United won’t win”). You place lay bets at betting exchanges.

LC – Live Chat – Fastest way to sort out missing free bets or bonus issues. Always be polite – the person helping you can make or break your bonus chances.

LGS – Last Goalscorer – Bet on who’ll score the final goal. Riskier than first goalscorer since you never know when the last goal will come. Great for some promotions but trickier to match effectively.

Liability – The amount you need in your exchange account to cover a lay bet. It’s the amount you’d lose on the exchange if your lay bet loses (but remember, you’d win at the bookmaker, so it balances out).

MB – Matched Betting – The smartest way to make guaranteed profits from bookie offers! I’ve used this to bank over £150,000 in tax-free cash. By covering all outcomes with back and lay bets, you’re never gambling – just extracting free money from bookies. No-risk betting at its finest!

Matched Betting Calculator – The essential tool that tells you exactly how much to lay against your back bet for guaranteed profits.

Minimum Odds – The lowest odds you can place your qualifying bet at to be eligible for a free bet promotion.

Mug Betting – Placing bets that look like a regular punter would make (not always tied to promotions) to keep your bookmaker accounts healthy and avoid being gubbed.

Neteller – Popular e-wallet for matched betting deposits and withdrawals. Fast transfers but some bookies exclude Neteller from promotions (sneaky!). Similar to PayPal but with better acceptance at gambling sites.

NR – Non-Runner – When your selection doesn’t compete. Your stake is returned for singles, while accumulators carry on without that leg.

Oddsmatcher – Software that finds close matches between back and lay odds to minimize qualifying losses or maximise free bet profits.

OM – Oddsmonkey

OP – OutPlayed

Overlay – When you lay more than the recommended amount. This means you’ll win more if your lay bet wins, but less if your back bet wins.

Over/Under – Betting on the total number of something in a match. Over 2.5 goals? You win if there are 3+ goals. The .5 prevents draws.  Sometimes extra outcomes are added depending on the bookmaker.

Palp – Palpable Error – When bookies mess up the odds big time. Think Man United at 10.0 instead of 1.0! They’ll void your bet faster than you can say “value” and return your stake. Don’t build your strategy around these unicorn moments.

PB – PocketBet

Price Boost – When a bookmaker artificially increases the odds on a selection. These can often be matched for a guaranteed profit.

PYP – Pick Your Pun – Betfred’s version of custom betting. Create your own crazy combination of match events instead of taking what the bookie offers. Great for finding value if you can calculate the true odds properly!

QB – Qualifying Bet – The initial bet you must place with your own money to earn a free bet. This typically results in a small loss (qualifying loss).

QL – Qualifying Loss – The small amount you lose on your qualifying bet. Think of it as a small investment to unlock the much larger profit from the free bet.

Reload Offers – Promotions available to existing customers, not just new sign-ups. These are the bread and butter of long-term matched betting.

Restricted – The matched bettor’s nightmare! When bookies limit your stakes or ban you from promotions. Guard your accounts like gold – once restricted, there’s rarely any going back. Mug betting is your best defense here.

Risk-Free Bet – A promotion where the bookmaker refunds your stake as a free bet if your bet loses. These aren’t actually risk-free without matched betting.

Rollover Requirement – The number of times you need to bet your bonus money before you can withdraw it. Common with casino offers.

RTP –  Return to Player – The percentage of wagered money a game pays back over time. A 96% RTP means the house only keeps 4% long-term. Higher is better for us, but remember it’s calculated over millions of spins!

Rule 4 – Racing’s way of adjusting payouts when horses withdraw late. The higher the odds of the withdrawn horse, the bigger the deduction from your winnings. A real pain when you’ve locked in a perfect match!

Smarkets/Betfair/Matchbook – Popular betting exchanges where you place your lay bets.

SNR (Stake Not Returned) – Most free bets are SNR, meaning only your winnings are returned, not the free bet stake itself. For example, if you use a £20 free bet at odds of 2.0 and win, you’ll get £20 profit but not the original £20 stake back.

SR (Stake Returned) – Much less common than SNR, these are free bets where the stake amount is returned along with any winnings. These are more valuable than SNR bets.

SP – Starting Price – The final odds when a race begins. Bookies love to offer “Best Odds Guaranteed” where if SP is higher than your early price, you get paid at the better odds. A matched bettor’s dream for extracting value!

Underlay – When you lay less than the recommended amount. This means you’ll win more if your back bet wins, but less if your lay bet wins.

Value Betting – Placing bets when you believe the odds offered are in your favor compared to the true probability.

Variance – The rollercoaster of casino game payouts! Low variance games give you frequent small wins to keep you going, while high variance games hit less often but pay bigger. Same RTP, totally different experience.

WR – Wagering Requirement – The number of times you must bet your bonus money before withdrawing. It’s the bookies’ way of saying “not so fast with that free cash!” Usually shown as a multiplier like 5x or 10x.

WOP – What Odds Paddy – Paddy Power’s “build your own bet” feature where you call the shots. Want goals, cards and corners in one bet? Just ask! A few other bookies offer similar features under different names.

X – Betting shorthand for “draw” in football markets. You’ll see it everywhere in football betting as “1X2” meaning home win, draw, or away win. Don’t overcomplicate it!

Remember, everyone starts somewhere, and you’ll pick up these terms naturally as you progress. Don’t let the jargon intimidate you – matched betting is actually very straightforward once you understand the basics!

Need any clarification on any of these terms? Just reach out and I’ll be happy to explain further.