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Trial Download Glossary of terms used on this site (English)
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| Term | Definition |
|---|---|
| Accumulator |
A multiple bet on a race or event. Involves making simultaneous selections on two or more races with the intent of pressing the winnings of the first win on the bet of the following race selected, and so on. All the selections made must win for you to win the accumulator. |
| Ante-post |
Betting on an event well in advance of the day of the race. |
| Application Program Interface (API) |
An Application Program Interface (API) is a set of routines, protocols and tools for building software applications. As the world's largest betting exchange Betfair requires its leading software partners to conform to their API standard. Bet Angel is Betfair API approved. |
| Arbitrage |
Taking advantage of a poorly priced market by creating a position that cannot lose |
| Back |
If you think something or somebody is going to win you back it. |
| Bet Angel |
Bet Angel is a betting and trading software tool designed to enhance the skills and profit performance of those that use the Betfair exchange. It is Betfair API approved. |
| Betfair |
Betfair is an online betting exchange. It is currently the world's largest betting exchange, processes over 5 million transactions a day and more than 300 bets a second. |
| Betting |
The process of accepting an offer in a betting market. On viewing the market you will be offered prices to back or lay a selection. You would need to judge whether backing or laying the selection represents value and therefore place a bet by offering money to the market. This is the process of betting. |
| Betting Exchange |
A Betting Exchange allows individuals to bet against each other on huge range of activities and events. Although sport is probably the most popular choice, the outcome of any event is a betting opportunity as long as enough people want to participate. Just as eBay matches buyers and sellers via the Internet, so Betting Exchanges match up customers who want to bet. |
| Book |
The list of odds available in a market. See also, Making a Book. |
| Book Arbitrage |
The process of correcting the over or under round on a book. All odds should add up to 100%. |
| Book Maker |
A person or company who accepts bets from the public, usually on racing or sports events (also known as a "bookie"). |
| Bot |
An automated programme or software tool that automatically places bets on the exchange. |
| Broadband |
To bet or trade on betting exchanges you will require a computer with a Broadband or high-speed Internet connection. |
| Chalk |
The wagering favourite in a race. Dates from the days when on-track bookmakers would write current odds on a chalkboard. |