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Definitions of common terms used
WR - wagering requirement, the amount of times you need to bet through at the bookies before you can withdraw. Often bookies ask you to turn the bonus 3x at certain odds (1.60 or above). If you lose the bet with the bookies and win at betfair, then the wagering requirement is eliminated. It is therefore advised to back teams you really feel will lose for the free bet, this usually requires higher odds.
SR - stake returned. On a normal bet your stake is returned to you if you win. For free bets, your free stake is sometime not returned, however if in the Terms and Conditions it says free stake returned, you will get to keep that as well.
SNR - stake not returned. For free bets, it means the original stake is not returned, you only receive your winnings. To maximise the SNR bets, we recommend you look for high odds. See graph below.
Evens - 1/1 is fractional for decimal 2.0
Market / Selection - when matchers talk about a 'market' or a 'selection' it is just something that you are betting on, team names or players. Don't worry, you'll soon be talking like a real gambler.
A betting slip - what you will be placing your bets on, they come in all sorts of shapes and sizes and vary according to bookies websites. Free bets are normally for singles only win markets, it is for one event/outcome to win.
Accumulators, doubles or trebles - a group of events with a set of odds. This is common for big events such as the premiership where you may get Chelsea/Liverpool/Man United to win their matches on Saturday for a set odds. This can be matched out on Betfair under their accumulator markets.
ARB - arbitrage, this is when there is a discrepancy in your favour between what odds an exchange is offering to lay a bet and what odds a bookmaker is offering to back a bet. i.e. sportingbet could be offering odds of 4.5 for Newcastle to beat Manchester United and if betfair were offering lay odds less than 4.5, for example 3.7 then would be an arbitrage. i.e. if you bet £100 for Newcastle to win and laid Newcastle with betfair at 3.7 you would win £21.50 whatever the result.
WR - wagering requirement, the amount of times you need to bet through at the bookies before you can withdraw. Often bookies ask you to turn the bonus 3x at certain odds (1.60 or above). If you lose the bet with the bookies and win at betfair, then the wagering requirement is eliminated. It is therefore advised to back teams you really feel will lose for the free bet, this usually requires higher odds.
SR - stake returned. On a normal bet your stake is returned to you if you win. For free bets, your free stake is sometime not returned, however if in the Terms and Conditions it says free stake returned, you will get to keep that as well.
SNR - stake not returned. For free bets, it means the original stake is not returned, you only receive your winnings. To maximise the SNR bets, we recommend you look for high odds. See graph below.
Evens - 1/1 is fractional for decimal 2.0
Market / Selection - when matchers talk about a 'market' or a 'selection' it is just something that you are betting on, team names or players. Don't worry, you'll soon be talking like a real gambler.
A betting slip - what you will be placing your bets on, they come in all sorts of shapes and sizes and vary according to bookies websites. Free bets are normally for singles only win markets, it is for one event/outcome to win.
Accumulators, doubles or trebles - a group of events with a set of odds. This is common for big events such as the premiership where you may get Chelsea/Liverpool/Man United to win their matches on Saturday for a set odds. This can be matched out on Betfair under their accumulator markets.
ARB - arbitrage, this is when there is a discrepancy in your favour between what odds an exchange is offering to lay a bet and what odds a bookmaker is offering to back a bet. i.e. sportingbet could be offering odds of 4.5 for Newcastle to beat Manchester United and if betfair were offering lay odds less than 4.5, for example 3.7 then would be an arbitrage. i.e. if you bet £100 for Newcastle to win and laid Newcastle with betfair at 3.7 you would win £21.50 whatever the result.
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