Jargon Buster

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Some of the jargon used by experienced spread bettors can appear a bit baffling at first. Use our A-Z of terms and you will quickly be talking spread betting lingo like a pro.

A

Account Balance
The total funds that are currently in your Sporting Index account. Note that this does not reflect any money that is at risk in open positions.

Aggregates

Aggregates are a group of specials whereby we predict the total number of instances (such as goals) across a group of matches.

B

Bananas
A spread bet exclusive to Sporting Index. In football this is a prediction on the aggregate result of a specified market in three specified events multiplied together. In Greyhounds this is a prediction on the aggregate of the first, second and third placed trap numbers multiplied together over all the races at a particular meeting.

Barking Mad
A greyhound spread bet exclusive to Sporting Index. A prediction on the aggregate of the first and second placed trap numbers multiplied together.

Bet Reference Number
The unique identifier issued with every bet as part of the bet confirmation process.

Buy
To bet high - a trade that the result will be higher than the current market price. The opposite of sell. The higher figure of the two figures quoted in the spread.

C

Choice
An equal match bet where the gambler is invited to select which team or individual is the favourite when making the bet.

Close
To trade in the opposite direction to your opening trade and therefore lock in an early profit or loss, before the ultimate result is known. See also Cut a Loss, Take a Profit and Open Position.

Cashing Out A Bet
Stopping the bet before the end of the event to take a profit or cut a loss.

Casino
Available on desktop and mobile our Casino offers a variety of table games, slots and jackpots. Content is provided by NetEnt, IGT and Microgaming.

Controlled Risk Bet
A particular form of bet which is closed once a stipulated maximum loss level is reached through the operation of an automatic 'stop loss'.

Coupon
The section of the Sporting Index website which allows clients to build their own page containing their favourite types of markets.

Cut Losses
To close a position before the end of an event for an anticipated reduced loss.

Credit Account
An account with a pre-agreed trading credit limit settled at the end of an agreed period.

 

D

Deposit Account
An account where sufficient funds have to be deposited before placing a bet.

F

Fat Lady
A special football bet which awards points for events which occur from the 80th minute onwards. See also First Lady.

Financial Conduct Authority (FCA)
Often known as the FCA, this is the organisation that regulates spread betting in the UK. Sporting Index is registered with the FCA.

First Lady
A special football bet which awards points for events which occur during the first 10 minutes. See also Fat Lady.

G

Gambling Commission
Under the Gambling Act 2005, the Gambling Commission regulates commercial gambling in the UK. Sporting Index is licenced and regulated by the Gambling Commission.

Games
Sporting Index's unique online spread betting virtual games.

H

Hedge
To trade in other related markets to protect your overall trading position.

Hotshots
A spread betting market based on the prediction of the scoring performance of 4 nominated players in a match.

I

In-play
Betting once an event is underway on markets that are constantly updated for the duration of the event. Also known as 'in-running'. See also Live Event Betting.

J

Jolly
A betting slang name for the favourite.

Journal
A manual credit or debit made to or from a client's account, usually by the Sporting Index Customer Services Team. This covers a range of possibilities including free bets credits and bet settling errors.

K

Kennington Park
Sporting Index's virtual horse racing spread betting game.

L

Lay
To accommodate a bet.

Long (of a market)
Electing to go buy the spread.

Limited Risk
A limited risk account ensures that no bet can be placed and accepted without sufficient funds being available in the account to cover the worst possible outcome.

Live Casino
Our live dealer casino service is provided by Evolution Gaming and NetEnt.

Live Event Betting
The term used to describe when an event is actually in progress and betting is available.

Long-term markets
Markets in which the final result is more than seven days after the date at which the initial bet is placed.
 

M

Make-up
The result on completion of an event or series of events. For example, if Manchester Utd beat Liverpool 3-1, total goals would make up at 4. See also Maximum Make-up and Minimum Make-up.

Margin
An additional deposit requested to cover the maximum risk of an open position that is going against you. Hence the expression 'margin call' which is a request for a margin payment.

Match bets
Bets on a single contest between teams or individuals, where the spread is the margin by which the favourite will beat the underdog.

Marked-to-Market
The value of a client's open bets, i.e. the amount that would be won or lost should the bets be closed at the mid-point at that time.

Market Suspension
The term used to describe a market where the price is temporarily unavailable.

Maximum Make-up
The maximum limit on the potential margin of victory or defeat, applied in certain markets to limit the client's and the spread firm's maximum risk.

Maximum Risk
The maximum possible that a client may lose through a bet.

Mid-Point
The middle of the spread.

Minimum Make-up
The least amount at which a market could make-up. On a supremacy bet this is, in theory, unlimited, but on a batsman's runs it's zero.

Mobile Betting
Sporting Index's mobile betting platform which allows clients to trade anytime, anywhere.

Multi-Corners
A football spread market based on the prediction of the number of first-half corners multiplied by the number of second-half corners.

Multi-Mules
A horse racing spread bet exclusive to Sporting Index. A prediction on the aggregate of the first and second placed horses' race card numbers multiplied together.

Multiples
Exclusive to Sporting Index, Multiples enables clients to pick your own Accumulators or to pick two teams/players to take each other on in a mythical match bet (regardless of whether they are actually playing each other).

N

Non-runner
A participant that does not take part in an event. Non-runners can often result in a market being re-priced.

O

Open Position
A bet that has not been settled so is still running. You can close out an open position at any time before the final result, and cut losses or take a profit.

P

Performance markets
A spread market framed around the comparative performance of selected participants in a sports event.

 

R

Risk
The funds that could be lost from placing the bet. The more volatile a market, the more risk associated with the bet.

S

Sell
The opposite of buy. The lower figure of the two figures quoted in the spread. See also Short (For example in cricket a client is short of England runs if he has sold England runs.)

Settlement
A bet is settled once that bet has been closed. Can also refer to the final result which dictates the make-up.

Short (of a market)
Electing to go lower/sell the spread. For example in cricket a client is short of England runs if he has sold England runs.

Short-term markets
Markets in which the final result is less than seven days after the date at which the bet is placed.

Spread
The difference between the higher (buy) and lower (sell) prices quoted by a spread betting bookmaker.

Sporting Index Mobile
Sporting Index's mobile betting platform which allows clients to trade anytime, anywhere.

Stake
The amount chosen by the client to bet per point.

Stewards Enquiry
Racecourse officials can amend the result of a horse race after investigating a suspected infringement of the rules or an objection. The period of investigation is known as a Stewards Enquiry and therefore bets are not settled until the outcome of the enquiry is known.

Stop Loss / Stop Win
An agreed boundary on a spread bet - no more can be won or lost beyond this agreed level. These will vary according to the volatility of the market.

Super Bankers
Equivalent of an accumulator which allows you to make up to ten selections at a time.

Supremacy
A market based on the margin of victory separating two competing teams or individuals. One team or player's dominance over another. For example in rugby union, England/Wales supremacy might be quoted at 7-9 meaning Sporting Index expect England to beat Wales by 8 points.

T

Take a Profit
The opposite of cut losses, this is when a bet is closed out to lock in a profit before the underlying event has concluded.

Telephone Betting
Sporting Index offer clients 24hour phone betting facilities as well as the website and mobile application.

Tick
When decimals are used to add volatility to a market, a 'tick' is each decimal point.

Trade
Another term for placing a bet which can be either a buy or a sell.

Training Centre
Sporting Index's unique online sports spread betting education facility.

V

Void Bets
When a bet is voided for one or more reasons as outlined in the individual and general sports rules.

Volatility
An indication of the range of possible results in any particular spread.