Satfair Id Sports Betting Jargon
The following is a glossary of terms used on sports betting platforms like Satfair Id. Since many countries have their own nomenclature, many terms have multiple alternative names. The use of Australian jargon is emphasized. Synonyms for common phrases are provided between brackets.
An introduction
- Sports Betting – Gambling on the result of a sporting event is known as “sports betting.” To win more money, that's the main objective.
- Bookmaker – A bookmaker, often known as a “book,” “bookie,” “sportsbook,” or “betting agency,” is a business that offers odds on bets and takes wagers.
- Betting Exchange – A betting exchange is an online platform where wagers can be placed and odds can be determined. Customers can “back” a bet at the current odds or “lay” a bet to act as the bookmaker.
- Back – Bet that something negative won't happen. You'd be showing your support for Arsenal if you bet on them to beat Chelsea.
- Lay – Lay is to wager that something will not happen. As an illustration, you could wager that you can beat Tiger Woods in a golf tournament. If Tiger Woods doesn't win, your lay bet is successful, and vice versa if no one else does. If you win, you get your original stake back plus the bonus, and if you lose, you pay out at the odds you agreed to. You are taking on the role of the bookmaker when you lay a wager.