Get to Know the Lingo: A Glossary of Betting Terms

Whether you’re gaming online or in person at a casino, it can feel a little overwhelming if you’re a first-time player, and you don’t want to feel out of your depth when it comes to betting jargon. We’ve put together a short guide to some of the terms you might hear or see when gambling either online or at a casino, so that you can feel more confident.

Parlay Bet

A parlay bet, sometimes also known as an accumulator bet, is where a whole chain of events has to occur for you to win. For example, you might put money on the outcome of a football match, and if this wins the proceeds are then placed on the outcome of a horse race. If this one wins, the winnings are rolled up and placed on an ice hockey game. The potential for high gains is there, but all three events have to pay out for you to win.

Number Bet

This one is confusing because surely anything involving numbers is a number bet? Technically maybe, but a number bet is actually a specific type of gambling, where you gamble on the results of international lotteries at fixed odds, rather than in the traditional way where the odds increase depending on the number of balls and the different combinations.

Outside Bet

This is something you’d see in the casino if you were playing roulette and is basically any play where there is an even chance of winning, for example betting on red or black or odd or even numbers. The alternative, where you put your money on a specific number and have a lower chance of winning but at a higher return, is called an inside bet.

Dozen Bet

Another roulette term, this one refers to betting on one of the three consecutive dozens on the wheel, i.e. betting on numbers 1-12, 13-24 or 24-36. You’ve got better odds than on an inside bet, but not as good as on an outside bet and as you’d expect, the potential returns fall between the two as well.

Hop Bet

If the dice are your thing then you’ll need to understand what is meant by a hop bet. It’s pretty simple; it’s just betting that the next roll will be a particular combination of the dice. Don’t confuse it with a horn bet – a bet that the next roll will be a 2, 3, 11, or 12, made in multiples of four.