Glossary

Back Bet

A bet placed on an event to happen, usually placed with a bookmaker.
Bookmaker

A company or individual that accepts bets on various events, typically sporting events, and pays out winnings based on the odds set for those events.
Exchange

A platform where you can bet against an outcome occuring.
Free Bet

A promotional offer from a bookmaker, allowing you to place a bet without risking your own money.
Lay Bet

A bet placed against an event happening, typically placed on a betting exchange.
Liability

The amount of money you need in your betting exchange to cover a lay bet.
Matched Betting

A low-risk strategy to make money from bookmaker promotions by using free bets.
Odds

The probability of an event occurring, expressed as a number that determines your potential return.
Profit Tracker

A tool used to track earnings and losses from matched betting activities.
Qualifying Bet

A bet placed to unlock a free bet offer, often at a slight cost.