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Definitions for: B


Synonims: Back a Bet.
Action of supporting the Bet, i.e., staking money that Bet will win.
Opposite: Lay a Bet.

Back a Bet

Synonims: Back.

Back Testing

Examining how the betting strategy would have performed in the past, in order to proof if it has been profitable, thus worth deploying with real money.


Synonims: Bank, Bankroll.


Synonims: Balance, Bankroll.
Bank is the total amount that a bettor has to gamble in a certain Bookmaker.


A selection that is considered very safe regarding certainty of its outcome, thus subject to high stakes.


Synonims: Balance, Bank.


An agreement between Bookmaker and bettor to put certain amount of money (Stake) on prediction of an outcome, at predefined odds. If prediction is correct, bettor will get his Stake Back along with profit, which depends on odds and Stake; if prediction is not correct, Bookmaker will keep bettor's Stake.
On betting exchanges, Bet is agreement between two people, where one of them plays role of Bookmaker as described above. Exchange just acts like link between two of them, and keeps certain percentage of winnings, as commission.
See: Stake, Back, Lay.

Betting Book

Synonims: Book Value, Overround.

Betting Exchange

A platform that allows people to Bet against each other. Usual betting consists of placing bets at Bookmaker, betting only on events to occur; however, Exchange links two people who are willing to place opposite bets on the same event (i.e., one of them bets that event will happen (backing the event), while another bets that event will not happen (laying the event)), so one of them acts like a Bookmaker.
The Exchange charges a commission from each winning trade, so they usually will not restrict stakes of profitable bettors, like bookmakers do.
Well Known Exchanges: Betfair, Betdaq.

Book Value

Synonims: Betting Book, Overround.


Synonims: Bookmaker.


Synonims: Bookie.
A company which is registered and licenced to accept bets from customers (bettors) on the prediction of an event outcome, with payout based on their odds offered to the bettor.


Place Lay bets in several selections of the same Market, distributing an overall Stake according to the Odd of each selection, thus obtaining equal profit if any of those selections wins.
See: Dutching.