There is a whole lot of odd terminology used when it comes to betting and I’m sometimes guilty of using these terms throughout my emails and in various posts at Winners Odds.
If you’re a seasoned bettor you’ll already be very familiar with most (if not all) of these terms and their meanings, but if your not, hopefully this email can help shed a little light on some of them.
So… let’s begin.
Gubbed – This is a term used to describe having one of your bookmaker accounts banned or heavily restricted.
Back Bet – The act of betting on a certain outcome to happen.
Lay Bet – The opposite of a back bet. A lay bet is where you bet on a certain outcome NOT to happen.
Starting Price – The odds of a selection at the time the event starts.
BOG – This simply stands for Best Odds Guaranteed. If you are betting with a bookmaker who is offering BOG on an event, it means if you place a bet earlier in the day and the starting price your selection is higher than the odds you placed your bet at earlier in the day, the bookmaker will pay you out at the higher odds if your bet goes on to win.
Arbing – A term used to describe the act of arbitrage betting. Arbitrage betting is where you bet on a certain outcome at one bookmaker or exchange and then bet against that same outcome at a different bookmaker or exchange which has priced that selection at lower odds allowing the “arber” to lock in a small profit.
Sharbing – Arbitrage betting where one or more of the bets are placed at a brick and mortar betting shop. This is usually done by betting on fixed prices on football coupons at shops and laying the bets for a lower price on the exchange.
ROI – The stands for return on investment and is mainly used when talking about the performance of a tipster or betting system. The ROI is calculated by dividing the overall profit or loss by the total amount staked.
Point or Pt – Again, this is a term which is often used when referring to the performance of a tipster or betting system. A point is simply a single unit of measure. 1 point is equal to the standard amount you would normally bet.
That’s all for now. If there’s any betting jargon that I’ve not mentioned here and you’re unsure what it means, feel free to shoot me an email.
And if you’re not interested in all the jargon and just want to make some money check out Learn Bet Profit.
Until next time,