Betting Glossary
The following glossary describes each type of bet, along with other common betting terms used on the Free Bet Calculator website:
Bet Types
- Accumulator
- An Accumulator is a bet consisting of 4 or more selections taking part in different events. All selections must win for you to make a profit, with the return from each selection being carried forward to provide the stake for the next selection. This compounding effect can be used to generate a large potential return, although it is correspondingly more difficult to win.
- Double
- A Double is a bet consisting of 2 selections taking part in different events. The return from the first selection is carried forward to provide the stake for the second selection; therefore both selections must win for you to make a profit.
- Double Stakes About (DSA)
- A Double Stakes About is the same as a Single Stakes About, except that double the original stake is taken from the return of each Single, to fund a further Single on the other selection.
- Flag
- A Flag consists of 4 selections taking part in different events, which are combined to produce 23 bets comprised of a Yankee and permed Single Stakes About (6).
- Goliath
- A Goliath consists of 8 selections taking part in different events, which are combined to produce 247 bets comprised of an 8-Fold Accumulator, permed 7-Folds (8), permed 6-Folds (28), permed 5-Folds (56), permed 4-Folds (70), permed Trebles (56) and permed Doubles (28).
- Goliath Flag
- A Goliath Flag consists of 8 selections taking part in different events, which are combined to produce 303 bets comprised of a Goliath and permed Single Stakes About (28).
- Heinz
- A Heinz consists of 6 selections taking part in different events, which are combined to produce 57 bets comprised of a 6-Fold Accumulator, permed 5-Folds (6), permed 4-Folds (15), permed Trebles (20) and permed Doubles (15).
- Heinz Flag
- A Heinz Flag consists of 6 selections taking part in different events, which are combined to produce 87 bets comprised of a Heinz and permed Single Stakes About (15).
- Lucky 15
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A Lucky 15 consists of 4 selections taking part in different events, which are combined to produce 15 bets comprised of a 4-Fold Accumulator, permed Trebles (4), permed Doubles (6), and a Single for each selection. This bet is the same as a Yap, but with a bonus applied if all selections win, and a consolation applied if only one selection wins.
The bonuses and consolations offered by different bookmakers vary, although it is common for a 10% bonus to be applied to the return if all selections win, with a consolation of the odds being doubled if only one selection wins. All selections must run for a bonus or consolation to apply. Bonuses and consolations only apply to the win part of each way bets. Lucky 15 bets are often only allowed on horse racing and greyhounds.
- Lucky 31
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A Lucky 31 consists of 5 selections taking part in different events, which are combined to produce 31 bets comprised of a 5-Fold Accumulator, permed 4-Folds (5), permed Trebles (10), permed Doubles (10), and a Single for each selection. A bonus is applied if all selections win, and a consolation is applied if only one selection wins.
The bonuses and consolations offered by different bookmakers vary, although it is common for a 20% bonus to be applied to the return if all selections win, with a consolation of the odds being doubled if only one selection wins. A small number of bookmakers also offer a bonus if 4 out of the 5 selections win. All selections must run for a bonus or consolation to apply. Bonuses and consolations only apply to the win part of each way bets. Lucky 31 bets are often only allowed on horse racing and greyhounds.
- Lucky 63
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A Lucky 63 consists of 6 selections taking part in different events, which are combined to produce 63 bets comprised of a 6-Fold Accumulator, permed 5-Folds (6), permed 4-Folds (15), permed Trebles (20), permed Doubles (15), and a Single for each selection. A bonus is applied if all selections win, and a consolation is applied if only one selection wins.
The bonuses and consolations offered by different bookmakers vary, although it is common for a 25% bonus to be applied to the return if all selections win, with a consolation of the odds being doubled if only one selection wins. Some bookmakers also offer a bonus if 5 out of the 6 selections win. All selections must run for a bonus or consolation to apply. Bonuses and consolations only apply to the win part of each way bets. Lucky 63 bets are often only allowed on horse racing and greyhounds.
- Patent
- A Patent consists of 3 selections taking part in different events, which are combined to produce 7 bets comprised of a Treble, permed Doubles (3), and a Single for each selection.
- Round Robin
- A Round Robin consists of 3 selections taking part in different events, which are combined to produce 10 bets comprised of a Trixie and permed Single Stakes About (3).
- Single
- A Single is a bet consisting of 1 selection which must win for you to make a profit.
- Single Stakes About (SSA) / Up And Down / Vice Versa
- A Single Stakes About consists of 2 selections taking part in different events, which are combined to produce 2 bets comprised of 2 Singles. Any return on each Single, up to the original stake amount, is used to fund a further Single on the other selection. This bet is also known as an Up And Down, or a Vice Versa.
- Super Flag
- A Super Flag consists of 5 selections taking part in different events, which are combined to produce 46 bets comprised of a Super Yankee and permed Single Stakes About (10).
- Super Heinz
- A Super Heinz consists of 7 selections taking part in different events, which are combined to produce 120 bets comprised of a 7-Fold Accumulator, permed 6-Folds (7), permed 5-Folds (21), permed 4-Folds (35), permed Trebles (35) and permed Doubles (21).
- Super Heinz Flag
- A Super Heinz Flag consists of 7 selections taking part in different events, which are combined to produce 162 bets comprised of a Super Heinz and permed Single Stakes About (21).
- Super Yankee / Canadian
- A Super Yankee consists of 5 selections taking part in different events, which are combined to produce 26 bets comprised of a 5-Fold Accumulator, permed 4-Folds (5), permed Trebles (10) and permed Doubles (10). This bet is also known as a Canadian.
- Treble
- A Treble is a bet consisting of 3 selections taking part in different events. The return from the first selection is carried forward to provide the stake for the second selection, and the return from the second selection is carried forward to provide the stake for the third selection. All 3 selections must win for you to make a profit.
- Trixie
- A Trixie consists of 3 selections taking part in different events, which are combined to produce 4 bets comprised of a Treble and permed Doubles (3).
- Union Jack
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Union Jack linesA Union Jack consists of 9 selections taking part in different events, which are numbered 1 to 9, and arranged in 3 rows of 3 selections. Bets are formed by combining the selections on each of the horizontal, vertical and diagonal lines:
Horizontal lines 1-2-3 4-5-6 7-8-9 Vertical lines 1-4-7 2-5-8 3-6-9 Diagonal lines 1-5-9 3-5-7 There are four variants of the Union Jack, representing each of the bet types that can be formed from the 3 selections on each line:
- Union Jack Trebles (8 bets)
- Union Jack Trixies (32 bets)
- Union Jack Patents (56 bets)
- Union Jack Round Robins (80 bets)
- Yankee
- A Yankee consists of 4 selections taking part in different events, which are combined to produce 11 bets comprised of a 4-Fold Accumulator, permed Trebles (4) and permed Doubles (6).
- Yap
- A Yap consists of 4 selections taking part in different events, which are combined to produce 15 bets comprised of a 4-Fold Accumulator, permed Trebles (4), permed Doubles (6), and a Single for each selection. This bet is the same as a Lucky 15 but without a bonus or consolation, and may be offered on ‘sports’ bets by bookmakers that only allow Lucky 15 bets on horse racing and greyhounds.
Betting Terms
- Ante-post
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Ante-post bet selections that do not take part in the event are usually treated as losers, although there are exceptions, for example, when the event is abandoned. The conditions affecting whether a selection is regarded as Ante-post can vary according to the sport, and the individual bookmaker.
Ante-post bets on horseracing are defined as bets placed before the overnight declaration stage, which is usually 10am on the day preceding the race, whereas for most other sporting events Ante-post bets are those placed up to, and including, the day of the event. Exceptions to this are major golfing events, where Ante-post bets are placed before the Monday preceding the event, and greyhound racing where Ante-post bets are placed prior to the day of race.
Bet selections that are not classed as Ante-post, such as horse racing bets placed on the day of race, will be treated as void if they do not take part, and the stake will be returned.
- Co-favourite
- Three or more participants equally regarded as the most likely winners of an event are referred to as Co-favourites; the odds are equal lowest for all these participants.
- Dead Heat
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A Dead Heat is where two or more participants in an event can not be separated, and thereby finish in the same position.
A Dead Heat will often affect the return on a bet, with a proportion of the stake being lost, to reflect the number of other participants involved in the Dead Heat. For example, if a bet contains a selection that is involved in a Dead Heat with one other participant, that bet selection will be settled to only half the stake.
For each way bets, a Dead Heat for a place will be settled to the full stake, as long as the inclusion of all Dead Heat participants wouldn’t otherwise exceed the number of places. For example, if two participants are involved in a Dead Heat for second, when there are three places, the stake is not affected.
- Each Way
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Each Way can be applied to any type of bet to indicate that both win and place should be covered. Consequently there are twice the number of bets, with a corresponding increase in the total stake.
The place is settled separately to the win, so if no selections win, a return can still be made as long as sufficient selections are placed. The increased likelihood of a selection being placed means that the odds are reduced in accordance with the related place terms.
- Evens
- Evens is commonly used to refer to odds of 1/1, where the winnings would be equal to the stake amount.
- Favourite
- The Favourite is the participant regarded as the most likely winner, and as a consequence has the lowest odds.
- Fold
- A Fold value identifies the number of selections in an Accumulator, for example, a 4-Fold Accumulator consists of 4 selections, a 5-Fold Accumulator consists of 5 selections, and so on.
- Full Cover
- Full Cover is a term used to describe a bet that consists of all combinations of Doubles, Trebles and Accumulators, for example, a Heinz.
- Joint Favourite
- Two participants equally regarded as the most likely winners of an event are referred to as Joint Favourites; the odds are the same for both participants.
- Non-runner
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A Non-runner is a selection that is withdrawn before the start of an event. Non-runners are treated as void selections, unless Ante-post rules apply.
Bets containing more than one selection automatically adjust to cater for void selections, so that any Doubles containing the selection are effectively treated as Singles, any Trebles are treated as Doubles, and so on.
- Odds
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The Odds represent what a bookmaker believes to be the likelihood of a participant winning an event. Odds are expressed either as fractions, or decimals.
If a participant in an event has odds of 2/1 (read as ‘2 to 1’) when expressed as a fraction, if it wins, the return is calculated as double the stake plus the original stake amount. The same odds expressed as a decimal value are 3.0, which can be simply multiplied by the stake to calculate the same return.
- Odds Against
- Odds Against are Odds that are higher than Evens, for example 2/1.
- Odds On
- Odds On are Odds that are lower than Evens, for example 1/2. Odds of 1/2 indicate that if the participant wins, the return would be half the stake plus the original stake amount; 1/2 can also be represented as decimal Odds of 1.5.
- Perm / Permutation
- All possible combinations of a particular bet type applied across all selections, is referred to as a Perm, or Permutation. For example, 3 Doubles can be permed from 3 Selections.
- Place
- A Place represents the first few finishing positions for an event; where the number of positions may vary according to the number of participants. For example, with horse racing a Place is not available if there are less than 5 runners, but for 5 to 7 runners there are 2 places, for 8 or more runners there are 3 places, and for handicap races of 16 or more runners there are 4 places.
- Place Terms
- The Place Terms specify the number of positions qualifying for a place, along with the proportion of the win Odds paid out on a placed participant. For example, 3 Places at 1/4 Odds.
- Profit
- The Profit is simply the Return minus the Total Stake, which if negative indicates a loss.
- Return
- The Return is the amount paid out on a bet, including the stake for winning and void bets.
- Rule 4
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Tattersalls Rule 4c, commonly abbreviated to Rule 4, concerns the deduction
applied to the odds of winning and placed selections, when a non-runner is declared in the same race, except where
Ante-post rules apply. The stake on the non-runner is still returned, but bets placed before the market has been
reformed following the non-runner declaration, are subject to a deduction based on the price of the non-runner at
the time it was withdrawn. Multiple non-runners may require multiple Rule 4 deductions to be applied, although the
maximum deduction may not exceed 90%.
Tattersalls Rule 4c Deductions Price of non-runner Deduction from winnings 1/9 or shorter 90% 2/11 to 2/17 85% 1/4 to 1/5 80% 3/10 to 2/7 75% 2/5 to 1/3 70% 8/15 to 4/9 65% 8/13 to 4/7 60% 4/5 to 4/6 55% 20/21 to 5/6 50% Evens to 6/5 45% 5/4 to 6/4 40% 13/8 to 7/4 35% 15/8 to 9/4 30% 5/2 to 3/1 25% 10/3 to 4/1 20% 9/2 to 11/2 15% 6/1 to 9/1 10% 10/1 to 14/1 5% Over 14/1 No deduction - Selection
- A Selection is a participant you believe has a chance of winning an event, which you may have combined with other Selections to form a bet.
- Total Stake
- The Total Stake is the amount of money invested on all bets, and is calculated simply by multiplying the Unit Stake by the number of bets.
- Unit Stake
- The Unit Stake is the amount of money invested on each bet.
- Void
- Void is used to describe a Selection or Bet that is no longer valid, for which the stake is returned. There are a number of reasons why a Selection may be declared void, including an event being abandoned or not taking place on the scheduled date, or a horse being withdrawn from a race before coming under starters order (unless ante-post rules apply).