As discussed in our opening posts, WizardBet is much more than another glorified tipping service. We are here to help with other punter's betting and hoping to guide and point you in the right direction. WizardBet is new for the three of us behind the blog, and we are learning all the time also. We have noticed that regular betting lingo may be unusual to many people out there, and have decided that when we post on our blog, if necessary we will explain particular terms and jargon which we use. Please, if we skip over or miss anything, feel free to email (wizardbet@gmail.com) and we will respond and discuss anything which may confuse you or likewise, on anything that you may wish to go over in more detail.
In future, please refer to this page for any further explanation of terms. Thanks.
Asian Books -
Quite simply bookmakers based in Asia. They are generally quite good on the football in terms of prices and they can sometimes be much easier to get bets on than with some of the Western books. Some common ones are 188Bet, SBObet, Mansion88 and 12Bet.
Drifting -
A bet which 'drifts' is simply increasing in price. It can happen because of a number of factors and on any selection, i.e a horse which has not been bet in a race, but others have; in a football team whereby a key player has been ruled out just before kick off etc.
'Point' Staking
Point staking is relatively simple. 1pt simply means 1% of your bankroll and so forth. Again, please read our 'Required Reading' section for further information on this. At WizardBet we record our bets on a points basis, but this simply can be converted directly into % too. The same applies for when we say "unit stake." Simply unit, means 'point' too.
2x Staking or 0.5 Staking-
Under our 'Required Reading' we suggest that you bet according to your bankroll. This is the total amount you are willing to bet with. We suggest a 1% stake of your bankroll on horses, and 2% on football. However, we have suggested in some posts that this may vary, depending on the strength of the bet. When we say 'this bet is now worth a 2x bet' we feel that you should effectively double your stake on this particular selection. Likewise, when we say a 0.5pt bet, you should accordingly half your stake.
Effectively then, on football, a 2x bet would equate to 4% of your bankroll, while on horses a 2x bet requires 2% of your bankroll.
General Abbreviations
"Gen" - a price which is widely available with many books
"VC" - Victor Chandler bookmaker
"BF" - Betfair
B.O.G - Best Odds Guaranteed. We only bet with bookmakers offering B.O.G because in case any selection drifts before the off, we get the bigger price. A very useful edge.
S.P - The starting price of the horse. Simply, the final price the horse is immediately before the off.
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