Bet365 betting glossary
Basic terms
The foundation: odds, stake, single and accumulator, and what a bookmaker actually is — the vocabulary every other term builds on.
Start with the basics, because every other betting term builds on them. These are the words you will meet constantly, and understanding them precisely removes most early confusion.
- Odds: the price of a bet, expressing both the potential return and the implied probability of an outcome
- Stake: the amount of money you place on a bet
- Single: a bet on one outcome, which wins or loses on its own
- Accumulator (acca): a bet combining several selections, where all must win for the bet to pay
- Bookmaker: the company that sets the odds and takes the bet — here, the operator
Odds are the central concept. They tell you two things at once: how much you stand to win relative to your stake, and the probability the bookmaker assigns to the outcome. A short price implies a likely outcome and a small return; a long price implies an unlikely one and a larger return. Everything in betting flows from reading odds correctly.
The single versus accumulator distinction matters for risk. A single is the simplest bet — one outcome, win or lose. An accumulator combines several, multiplying the odds but requiring every selection to win, which makes it higher-risk and harder to land the more legs you add. Beginners are usually better served by singles they understand than long accas that look tempting.
Understanding what a bookmaker is completes the picture: it is the business setting the prices and taking the other side of your bet, building a margin into the odds so that, over many bets, it profits. Knowing the margin exists is the start of betting with realistic expectations. Our odds and margins guide explains the margin in detail.
Odds price both return and probability, a single is one outcome and an accumulator combines several, and the bookmaker sets prices with a built-in margin.
Odds formats
Decimal and fractional odds express the same thing differently, and the margin is the bookmaker’s edge baked into every price.
Odds appear in different formats, and knowing how to read each — and convert between them — is essential. Bet365 lets you choose your preferred format in account settings, so you can pick the one you find clearest.
- Decimal odds: the total return per unit staked, including your stake (e.g. 2.00 returns twice your stake)
- Fractional odds: the profit relative to the stake (e.g. 1/1 or "evens" returns equal profit)
- Margin: the bookmaker's edge, built into the odds across a market
Decimal odds are the most straightforward and the format most analytical punters prefer. The number is simply your total return per unit staked, including the stake itself — odds of 2.00 mean you get back twice what you put in, odds of 1.50 mean one and a half times. Their simplicity makes comparing prices and calculating returns easy.
Fractional odds, the traditional format, express profit relative to stake: 1/1 (evens) means equal profit to your stake, 2/1 means double your stake in profit. They are common in some contexts but a little harder for quick comparison, which is why many punters switch to decimal in settings. Both express the same underlying price.
The margin is the most important concept here. Across all outcomes of a market, the implied probabilities add up to more than 100%, and that excess is the bookmaker's edge. Learning to estimate it — by converting decimal odds to probability and summing them — is the single most useful skill for judging whether a price offers value. Our odds and margins guide walks through the method.
Decimal odds show total return per unit and fractional odds show profit to stake; both express the same price, with the margin baked in as the bookmaker’s edge.
Cricket markets
The cricket-specific terms every Indian punter meets: match winner, session and over markets, and top batsman and bowler.
Cricket has its own market vocabulary, and since it is the focus for most Indian punters, these terms are worth knowing precisely. They name the bets you will most often place on an IPL or international match.
- Match winner: a bet on which side wins the match — the simplest cricket market
- Top batsman / bowler: a bet on the best-performing batsman or bowler for a team or match
- Session / over markets: bets on the runs scored in a defined block of overs
- Total runs (over/under): a bet on whether runs in an innings or match exceed a set line
The match winner is the cricket market most people start with, and the most liquid and keenly priced. It is the simplest expression of a view — which team wins — and a sensible default for a punter who wants to keep things straightforward.
Session and over markets are the live-betting staples, central to In-Play cricket. They cover the runs scored in a defined block — the powerplay, the death overs, a set number of overs — and move fast as an innings unfolds, rewarding a punter reading the rhythm of the game. They are popular precisely because cricket's structure suits them.
Top batsman and bowler markets, and other player markets, are popular for their connection to the stars of a match, but they depend heavily on team selection and the batting order. A top-batsman bet placed before the XI is confirmed is a guess; the same bet after the toss is a judgement. Knowing these terms and their selection-sensitivity is part of betting cricket sensibly. Our cricket guide covers them in depth.
Key cricket markets are the match winner, top batsman and bowler, and session, over and total-runs lines — the player markets hinge on team selection.
Advanced concepts
Beyond the basics: Cash Out, In-Play betting and bankroll — concepts that shape how experienced punters actually bet.
A few more advanced terms describe how experienced punters manage their betting. Understanding these moves you from simply placing bets to thinking about betting as an activity to be managed.
- Cash Out: settling a bet early for a value the platform offers before the event ends
- In-Play: betting during an event on odds that update in real time
- Bankroll: the total money you set aside for betting, managed as a whole
- Value: a bet whose odds are better than the true probability warrants
Cash Out is the feature that lets you take a return before an event finishes, banking a profit or cutting a loss based on how the bet currently stands. It is a control tool, useful in volatile cricket, but it carries the margin, so it is best used deliberately rather than reflexively. Our Cash Out guide explains it.
In-Play, or live betting, means betting during the event itself on fast-moving odds. It is the feature Bet365 is best known for, especially in cricket, and it rewards reading the game in real time — but its pace makes discipline essential. Our In-Play guide covers it.
Bankroll and value are the concepts that underpin sensible betting. Your bankroll is the money you set aside for betting and manage as a whole, staking a sensible fraction rather than betting erratically. Value is the idea of betting only when the odds are better than the true chance warrants — the goal of every analytical punter, though always remembering the margin works against you. Together, bankroll discipline and value-seeking are what separate considered betting from impulsive betting.
Cash Out settles bets early, In-Play is live betting, bankroll is your managed betting money, and value is odds better than the true probability.
Practical tips
The most important vocabulary is about control: budget, staking and responsible gambling — the terms that keep betting safe.
The final group of terms is the most important, because it concerns staying in control. Knowing the betting jargon is useful, but the vocabulary of responsible betting is what actually protects you, and it deserves the last and clearest word.
- Budget: the money you can afford to lose, set aside as a spending limit
- Staking: how much you bet per wager, ideally a sensible, consistent fraction of your bankroll
- Responsible gambling: betting within limits, as entertainment you can afford, never to make money
Your budget is the foundation of everything. It is the money you can afford to lose, decided in advance and treated as the cost of entertainment, not an investment. Setting a budget — and the account's deposit limit to enforce it — is the single most important practical habit in betting, more important than any market knowledge.
Staking is how you deploy your bankroll. Consistent, sensible staking — betting a small, steady fraction rather than wildly varying amounts or chasing losses with bigger bets — is what makes a bankroll last and keeps betting controlled. Erratic staking is how punters lose quickly, regardless of how good their selections are.
Responsible gambling is the term that ties it all together: betting within limits you set, treating it as affordable entertainment, and never as a way to make money or recover losses. It is the most important concept in this entire glossary, and the one worth internalising above all the betting jargon. Our responsible gambling guide covers the tools that put it into practice.
The most important terms are about control: a budget you can afford, sensible consistent staking, and responsible gambling within limits you set.
Frequently asked questions
What are odds in betting?
Odds are the price of a bet, expressing both your potential return relative to your stake and the implied probability of the outcome. A short price means a likely outcome and small return; a long price means an unlikely one and a larger return.
What is the difference between decimal and fractional odds?
Decimal odds show your total return per unit staked, including the stake (2.00 returns twice your stake). Fractional odds show profit relative to stake (1/1 or "evens" returns equal profit). Both express the same price; you can choose the format in settings.
What is a session market in cricket?
A bet on the runs scored in a defined block of overs, such as the powerplay or a set number of overs. Session and over markets are live-betting staples because cricket's structure suits them, and they move fast as an innings unfolds.
What is Cash Out?
Settling a bet early for a value the platform offers before the event ends, letting you bank a profit or cut a loss based on how the bet currently stands. It is a control tool that carries the margin, so use it deliberately rather than reflexively.
What is a bankroll?
The total money you set aside for betting and manage as a whole, staking a sensible, consistent fraction rather than betting erratically. Bankroll discipline, alongside a budget you can afford, is what keeps betting controlled and lasting.