M

Margin – the bookmaker’s theoretical profit or over-round derived from the betting odds.  For example an event with five 3/1 chances would represent a 125% book (5 x 1/4) and a 25% advantage or margin.

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Martingale – a betting strategy which seeks to win back losses by increasing stakes. A flawed strategy as it disregards whether a bet has an edge so will inevitably lose money over the long-term.

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Matched betting – a way of guaranteeing a profit by taking advantage of free bet promotions.

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Match bet – a bet involving only two choices. Usually in events where there are only two possible results - dead-heat rules may apply where a tie is possible.

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Money-back Offer – a promotion which refunds a bet (normally as a free bet) if certain criteria, such a player scoring, is met.

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Multiple bet – a bet with 2 or more selections which includes accumulators bets such as doubles and trebles+.

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N

Nap – a tipster’s leading selection in an event or a meeting. Believed to be derived from the card game Napoleon where the best hand is a Nap.

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National Hunt racing – a race contested on a course with obstacles (hurdles or jumps)  National Hunt racing also includes NH flat races (normally around 2 miles) which are often the last race of a jumps meeting.

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NB – a tipster’s next best selection (after a Nap) in an event or meeting. Most newspaper tipsters will have both a Nap & NB for each meeting covered.

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Non-runner – a selection which doesn’t participate in an event. Usually non-runners are taken out of an event in enough time to allow for a new betting market to be formed – although Rule 4 rules may apply if not.

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O

Odds–against – the price of a selection with odds greater than Evens or 2.0. Signifies the point where a selection’s chances become less than 50% or less rather than more likely to happen (according to the betting)

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Odds-on – the price of a selection which odds less than Evens 2.0. Signifies the point where a selection’s chances become more than 50% or more rather than less likely to happen (according to the betting)

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Odds comparison – a website which allows the comparison of odds between different bookmakers.  An indispensable tool to ensure that punters get the best price. Oddschecker is the leading odds comparison site in the UK.

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Outrights – term often used by bookmakers for the outright winner market in a competition. Helps to distinguish between a winner in a match and a winner in an entire event.

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Over-round – another name for bookmaker’s theoretical advantage or betting margin especially when, as in normal cases, it is greater than 100%. Bookmaker’s tend to keep close to certain margins depending on the event, tennis and football result markets are normally around 110% or 10% over-round whilst Racing Handicaps may be 20%+ and golf can be 40%+.