Knowledge Base
Glossary
Plain-English definitions for the terminology used across Tactical Review.
- Arbitrage
- Arbitrage (or ‘arbing’) is exploiting differences in odds across bookmakers to guarantee a profit regardless of the result.
- Back Bet
- A back bet is a wager that an outcome will happen, the traditional type of bet placed with a bookmaker.
- Bankroll
- Your bankroll is the total amount of money you have set aside for betting.
- Bankroll Management
- Bankroll management is the strategy of setting limits on how much you bet to protect your funds.
- Bookmaker
- A bookmaker (or ‘bookie’) is a company that sets odds and accepts bets on sporting events.
- Cash Out
- Cash out lets you settle a bet before the event ends, locking in a profit or limiting a loss based on the current odds.
- Cashback
- Cashback is a promotion that returns a percentage of your net losses over a set period, credited as bonus funds.
- Decimal Odds
- Decimal odds show the total payout per unit staked, including the original stake; e.g., 2.50 means you receive $2.50 for each $1 wagered.
- Edge
- Edge is the statistical advantage a bettor believes they have over the bookmaker’s odds.
- Fractional Odds
- Fractional odds express the profit relative to the stake; a 5/1 odds means you win $5 profit for every $1 bet.
- Free Bet
- A free bet is a no‑cost wager credited by the bookmaker that can be used to place a bet, with any winnings usually returned without the stake.
- Lay Bet
- A lay bet is a wager that an outcome will not happen, typically placed on a betting exchange.
- Margin
- Margin is the percentage of total bets that the bookmaker retains as profit, calculated as the overround.
- Moneyline Odds
- Moneyline odds indicate how much you must wager (negative) or how much you win (positive) on a $100 bet.
- Odds Boost
- An odds boost is a promotion that increases the payout odds on a selected bet, offering higher potential returns.
- Overround
- The overround, also known as the ‘juice’, is the bookmaker’s built‑in margin ensuring profit regardless of the result.
- Provably Fair
- Provably Fair is a system that lets players verify the fairness of each game result using cryptographic hashes.
- ROI
- Return on Investment (ROI) measures the profitability of your bets by comparing net profit to the total amount wagered.
- RTP
- Return‑to‑Player (RTP) is the percentage of total wagers a game returns to players over time, expressed as a theoretical payout rate.
- Stake
- The stake is the amount of money you risk on a bet.
- Unit
- A unit is a standard bet size used to manage risk, typically a fixed percentage of your bankroll.
- Value Bet
- A value bet occurs when the odds offered are higher than the true probability of the outcome, offering positive expected value.
- Volatility
- Volatility measures how often and how much a game pays out; high volatility means larger but less frequent wins.
- Wagering Requirement
- A wagering requirement is the number of times you must bet a bonus amount before you can withdraw any winnings from that bonus.
- Yield
- Yield is the net profit generated from total wagers, expressed as a percentage of the total amount wagered.