Betting has its own language, and Irish punters encounter dozens of terms — many inherited from Victorian racing culture, others from modern financial sports betting. This glossary covers every term you are likely to encounter in an Irish betting shop or on a major betting site, explained in plain English. Use the alphabet navigation to jump to the letter you need.
Jump to: A · B · C · D · E · F · G · H · I · J · L · M · N · O · P · R · S · T · U · V · W · Y
A
- Accumulator (Acca)
- A single bet combining 4+ selections from different events. All must win for the bet to pay out. Winnings from each leg roll onto the next. See also: Double, Treble.
- Acca Insurance
- A promotion that refunds your stake (usually as a free bet) if exactly one leg of a qualifying accumulator fails. Conditions apply — typically minimum legs, minimum odds per leg, and refund cap.
- Ante-Post
- Betting placed before the final declarations for a race (or before a tournament). You lock in an early price. If your selection is withdrawn, your stake is lost.
- ATC (Any To Come)
- An instruction on a traditional bet slip telling the bookmaker to use any winnings from the first bet to place a specified second bet. Rarely used in modern online betting.
B
- Back
- To place a bet on a selection to win. The conventional side of a bet, as opposed to laying.
- Banker
- A selection in a multiple or combination bet that you are very confident about. Used to build accumulator legs around.
- Bet Builder (Same Game Multi)
- A product that allows multiple selections from the same event to be combined into a single bet. All selections must win.
- BOG (Best Odds Guaranteed)
- A promotion where the bookmaker pays you the SP if it is higher than the early price you took. Removes the risk of an early price that shortens.
- Both Teams to Score (BTTS)
- A market paying out if both sides score at least one goal in a football match, regardless of who wins.
C
- Cash Out
- Settling an open bet before the event finishes, in exchange for a bookmaker-determined amount. The offer is typically below fair theoretical value.
- CSF (Computer Straight Forecast)
- The official formula used to calculate forecast dividends in horse racing and greyhound racing.
- Combination Forecast
- A forecast bet covering all possible first-and-second combinations from three or more selections.
D
- Dead Heat
- When two or more competitors finish in the same position. Payouts are reduced in proportion to the number of selections sharing the position.
- Decimal Odds
- Odds expressed as a decimal (e.g. 3.5) representing total return per unit staked including the stake. Standard on most online betting sites.
- Double
- A two-selection accumulator. Both selections must win.
- Double Chance
- A market covering two of three possible outcomes in a 1X2 football market (home win or draw, or draw or away win, etc.).
- Draw No Bet (DNB)
- A market where your stake is refunded if the match ends in a draw. Only a win or loss is recognised.
- Drift
- When a selection's odds lengthen (get bigger), indicating the market or bookmaker believes it is less likely to win than previously priced.
E
- Each-Way (EW)
- Two bets in one: a win bet and a place bet. The place portion pays at a fraction of the win odds if the selection finishes in a specified number of places. Costs double the stated stake.
- Enhanced Odds (Price Boost)
- A temporary increase in the available price on a selection above the standard market rate, usually for a limited stake.
- Evens (EVS)
- Odds of 1/1 — profit equals stake. In decimal odds: 2.0.
- Exchange
- A betting platform where punters bet against each other (not against a bookmaker). Users can both back and lay selections.
F
- Fixed Odds
- Betting where the price is agreed and locked in at the time of placing the bet, regardless of price movement before the event.
- Forecast
- A bet requiring you to predict the first and second place finishers in a race, in correct order.
- Fractional Odds
- The traditional British and Irish odds format, expressed as a fraction (e.g. 5/1). The numerator is profit per unit of denominator staked.
- Free Bet
- A token from a bookmaker that can be used as a stake without risking your own money. Usually SNR (Stake Not Returned) — if it wins, you receive the profit only.
G
- Going
- The official description of ground conditions on a racecourse (firm, good, soft, heavy). Affects horse performance and form assessment.
- GRAI
- The Gambling Regulatory Authority of Ireland — the statutory body that licenses gambling operators in Ireland under the Gambling Regulation Act 2024. Fully operative from July 2026.
H
- Handicap
- A market or race where weaker competitors are given a theoretical advantage (points start, weight allowance) to level the field.
- Heinz
- A full cover bet on 6 selections: 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and 1 six-fold accumulator (57 bets total).
I
- Implied Probability
- The percentage chance of an outcome implied by its odds. Calculated as 1 ÷ decimal odds. A 5.0 price implies a 20% chance.
- In-Play (In-Running)
- Betting placed after an event has started. Prices update continuously based on the current state of the event.
J
- Jackpot
- A Tote pool bet requiring the winner of each of the first six races at a meeting. Rolls over if no one is successful.
- Joint Favourite
- When two selections are priced equally as the market leader.
L
- Lay Bet
- Betting against a selection — acting as the bookmaker. You collect the backer's stake if the selection loses, but pay out at the agreed odds if it wins. Available via betting exchanges.
- Liability
- In lay betting, the maximum amount you stand to pay out if your selection wins. Calculated as (decimal odds − 1) × backer's stake.
- Lucky 15
- A full cover bet on 4 selections covering all 15 possible combinations (singles, doubles, trebles and 4-fold).
M
- Margin (Overround)
- The bookmaker's built-in profit — the amount by which the sum of implied probabilities across all outcomes exceeds 100%. Typically 4–10% on major football markets.
- Matched Betting
- A technique using free bets and a lay bet on an exchange to cover all outcomes, extracting value from promotions with limited risk. Legal but requires careful calculation.
N
- Non-Runner (NR)
- A horse declared to run but subsequently withdrawn before the race starts. Triggers Rule 4 deductions for day-of-race bets; ante-post bets typically lose.
- NRMB (Non-Runner Money Back)
- A promotional offer where your stake is refunded (usually as a free bet) if your selection is withdrawn from a race.
O
- Odds-Against
- When the potential profit exceeds the stake — e.g. 2/1 or above, decimal odds above 2.0.
- Odds-On
- When the stake exceeds the potential profit — e.g. 1/2, 4/9. Decimal odds below 2.0.
- Overround
- See Margin.
P
- Patent
- A full cover bet on 3 selections: all singles, doubles and a treble (7 bets total). Returns even if only one selection wins.
- Placepot
- A Tote pool bet requiring a placed horse in each of the first six races at a meeting. Carries over if unsettled.
- Place Terms
- The fraction of win odds paid for the place portion of an each-way bet, and how many places are paid. Determined by race type and number of runners.
R
- Reverse Forecast
- A forecast bet covering both possible orderings of two selections (A/B and B/A). Two bets — costs double the stated unit stake.
- Rule 4 Deduction
- A reduction applied to winnings when a horse is withdrawn after bets have been placed. Percentage based on the SP of the withdrawn horse.
S
- SNR (Stake Not Returned)
- A free bet type where the face value of the token is not included in winnings if the bet wins. Only the profit is paid.
- SP (Starting Price)
- The official odds returned for a horse at the start of the race, determined by on-course bookmakers.
- Spread Betting
- Betting on a variable outcome (total goals, corners, points) where profits and losses vary with how far the result moves from the spread. Can lose more than your stake.
- SR (Stake Returned)
- A free bet type where the face value is included in winnings. More valuable and less common than SNR.
T
- Tote
- Pool betting operated by the official Tote (or by licensed operators using Tote pools). Dividends are determined after the event based on how the pool is distributed.
- Treble
- A three-selection accumulator. All three must win.
- Trixie
- A full cover bet on 3 selections covering all doubles and the treble (4 bets). Requires 2 winners to return.
U
- Under/Over
- A market betting on whether a statistical total (goals, corners, points) will be under or over a specified line, e.g. Over 2.5 goals.
V
- Void Bet
- A bet cancelled and stake returned, typically because the event did not take place or was abandoned before the bet's conditions could be settled.
- Value
- When a selection's true probability of winning is higher than the bookmaker's implied probability suggests. Betting consistently at value is the theoretical basis for long-term profitability.
W
- Wager
- Another word for a bet.
- Win Only
- A bet that pays only if the selection wins outright. Contrast with each-way.
Y
- Yankee
- A full cover bet on 4 selections covering all doubles, trebles and the 4-fold (11 bets). Requires 2 winners to return something.
18+ — Gambling Awareness Trust: 1800 753 753, gamblingcare.ie. No betting term guarantees a winning outcome.
Frequently Asked Questions
What does 'overround' mean in betting?
The overround is the sum of implied probabilities across all outcomes in a market above 100%. A 108% overround means an 8% bookmaker margin. The higher the overround, the more expensive the market is to bet on.
What does 'ante-post' mean?
Ante-post means placing a bet before final declarations for a race. You lock in an early price. If your selection is withdrawn, your stake is lost.
What is 'each-way' in betting?
Each-way is two bets in one: a win bet and a place bet. The place portion pays at a fraction of the win odds. It costs double the stated stake.
What does 'in-play' mean in betting?
In-play (in-running or live betting) means placing a bet after the event has started. Prices update in real time based on the evolving situation.
What is 'SP' in horse racing?
SP stands for Starting Price — the official odds returned for a horse at the start of the race. When you request SP, you receive whatever price is officially declared.