Betting terms explained
Short definitions of the words used in betting arithmetic, such as overround, implied probability and stake, each with a small worked example.
One term per page, defined in a sentence, then shown with numbers.
- What is a bet slip? Reading stake, odds and potential return
A bet slip lists your selections, the odds, your stake and the potential return before a bet is accepted. How each line is read, with a worked example.
- What is a void bet or a push, and how is the stake handled?
A void bet or a push is settled with no winner and no loser. See how the stake is returned and how a void leg changes a multi-bet, with KES maths.
- Stake, return and profit: what each term means
Stake is what you risk, return is what comes back, profit is return minus stake. Worked KES examples show how they differ on wins, losses and sets of bets.
- Each-way bet explained: the stake and payout maths
An each-way bet is two equal bets, one on winning and one on placing. See how the stake doubles and how each part pays, with worked KES examples.
- How a cash-out offer is calculated
A cash-out offer is the fair value of what is left of your bet, minus a margin. See the arithmetic in shillings, a table and a worked accumulator case.
- What is overround?
Overround is the amount by which the implied probabilities of all outcomes in a betting market exceed 100%. Definition, formula and a short example.