Both Teams to Score

A bet against an outcome occurring, effectively taking the role of the bookmaker. Only available on betting exchanges like Betfair. When you lay a bet, you are offering odds to other bettors. If the outcome occurs, you pay the backer's profit. If it does not occur, you keep the backer's stake.

A bet consisting of two equal parts: one on the selection to win and one on the selection to place (finish in the top positions). Common in horse racing and golf. If your selection wins, both parts pay out. If it places but does not win, only the place part pays at a fraction of the win odds (typically 1/4 or 1/5).

A bet in favor of an outcome occurring, which is the standard type of bet most people are familiar with. On a betting exchange, backing is the opposite of laying. When you back a selection, you believe it will win. If it does, you receive the payout at the agreed odds.

A type of parlay where the bettor can adjust the point spread or totals in their favor for each selection, but at reduced odds. Common in American football and basketball. For example, a 6-point teaser on a -7.5 spread changes it to -1.5. All legs must still win for the teaser to pay out.

A parlay where all selections come from the same match or event. For example, combining Team A to win, Over 2.5 goals, and a specific player to score in one football match. SGPs have become extremely popular with recreational bettors but often carry very high margins for the bookmaker.

A bet on a specific event or occurrence within a game that may not directly relate to the final outcome. Examples include first player to score, total passing yards by a quarterback, or number of corners in a football match. Prop bets can be player-based or game-based and are increasingly popular.