Cricket Betting Glossary: A–Z Terms – Panel Terms From A to Z
This glossary explains the terms you will see on Indian betting panels and exchanges, from back and lay to khai, lagai, exposure and session lines.
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This glossary explains the terms you will see on Indian betting panels and exchanges, from back and lay to khai, lagai, exposure and session lines. Each entry is a short, plain-English definition, grouped A to Z. Where a term involves maths, such as liability, we show the rupee calculation.
A–B: Abandoned to Bookmaker market
| Term | Meaning |
|---|---|
| Abandoned | A match called off without a result, usually because of rain. Unsettled bets are normally voided, but check your panel’s rules. |
| Admin / Master / Agent | Levels in a panel’s account structure. A master ID or agent creates user IDs beneath it and handles their balances. |
| Back | A bet that an outcome will happen. Shown in blue boxes on Indian panels. |
| Balance | The money in your wallet that is free to bet, after your current exposure is deducted. |
| Bet slip | The panel that opens when you tap a price. It shows your stake, odds, potential profit and liability before you confirm. |
| Bhav | Hindi for price or rate. Old-school bookies quote the “bhav” as a whole number, such as 45. |
| Bookmaker market | A match-winner market priced by the panel in whole-number rates (such as 45-46) rather than by other users. Often sits just below the exchange match odds. |
C–E: Cash out to Exposure
| Term | Meaning |
|---|---|
| Cash out | A button that closes your position at the current price for a fixed profit or loss. On an exchange you can do the same manually by trading out. |
| Commission | The fee an exchange charges on your net winnings in a market. Rates vary by panel and are not charged on losing markets. |
| Completed match | A match that reaches a result, including by DLS. Some markets, such as tied-match bets, only settle on completed matches. |
| DLS (Duckworth–Lewis–Stern) | The method used to set revised targets in rain-affected limited-overs matches. Each side must face at least 5 overs in a T20 and 20 in an ODI for a result. |
| Demo ID | A practice account with play points, used to learn a panel without real money. Ask for a free demo ID. |
| Drift | When a selection’s odds lengthen, meaning the market thinks it is less likely to win. |
| Exchange | A marketplace where users bet against each other, backing and laying, rather than against a bookmaker. See exchange vs sportsbook. |
| Exposure | The total amount you could lose across all your open bets. If you have a ₹500 back bet and a lay with ₹1,100 liability in different markets, your exposure is ₹1,600. |
F–I: Fall of wicket to In-play
| Term | Meaning |
|---|---|
| Fall of wicket (FOW) | A fancy market on the team score at which the next wicket falls, bet as Yes or No on a line. |
| Fancy | The family of Yes/No number markets on Indian panels: sessions, player runs, FOW, partnerships and more. |
| Favourite | The team with the shortest odds, rated most likely to win. The other side is the underdog. |
| Free hit | In limited-overs cricket, the ball after a no-ball, from which the batter cannot be out by most modes of dismissal. Often moves over and session markets. |
| Green book | Trader slang for a position that shows profit on every outcome, usually after trading out. |
| Hedge | Placing an opposite bet to reduce risk on an existing one. On an exchange, lay stake = back stake × back odds ÷ lay odds. |
| Impact Player | An IPL rule letting each team substitute one player during the match. The IPL confirmed it continues for the 2025–2027 cycle. |
| Implied probability | The chance a price suggests, calculated as 1 ÷ decimal odds. Odds of 2.50 imply 40%. |
| In-play | Betting while the match is live. Covered in our in-play betting guide. |
K–L: Khai to Liquidity
| Term | Meaning |
|---|---|
| Khai | Indian slang for laying (betting against) the favourite, from “khana”, to eat. Khai ₹1,000 at 46 wins ₹1,000 and risks ₹460. |
| Lagai | Indian slang for backing the favourite, from “lagana”, to put on. Lagai ₹1,000 at 45 wins ₹450. |
| Lambi | Slang for a full-innings runs session, as opposed to a 6- or 10-over session. |
| Lay | A bet that an outcome will not happen, shown in pink boxes. You act as the bookmaker. See back vs lay betting. |
| Liability | What you lose if a lay bet fails: lay stake × (odds − 1). Laying ₹1,000 at 3.00 gives a liability of ₹2,000. |
| Line | The number in a session or fancy market, such as 6-over runs Yes 49. You bet whether the result reaches it. |
| Liquidity | The money available to match bets at each price, shown under the odds. Low liquidity means wider spreads and unmatched bets. |
M–O: Match odds to Overround
| Term | Meaning |
|---|---|
| Matched bet | A bet that has been paired with an opposite bet and is live. Only matched bets win or lose. |
| Match odds | The main exchange market on who wins the match, with back and lay prices for each team (and the draw in Tests). |
| Middle | Taking Yes on a low session line and No on a higher one after the line moves, so both win if the score lands in between. |
| Min / Max stake | The smallest and largest bet the panel accepts on a market. Limits differ by market and panel. |
| No | The side of a session or fancy line that wins if the figure stays below the line. Shown in pink. |
| Odds | The price of an outcome. In decimal format, return = stake × odds. See cricket betting odds explained. |
| Overround | The total of implied probabilities above 100%, representing the bookmaker’s margin. Prices of 1.80 and 2.00 total about 105.6%. |
P–R: Partnership to Rate
| Term | Meaning |
|---|---|
| Partnership | A fancy market on runs added by the current pair before a wicket falls. |
| Player runs | A fancy market on one batter’s score, bet Yes or No on a line such as 31/32. |
| Points | How many panels display your balance. Usually 1 point equals ₹1, but confirm with your provider. |
| Powerplay | Overs with fielding restrictions: the first 6 in a T20, and overs 1–10 in an ODI, when only two fielders may be outside the 30-yard circle. A busy time for session betting. |
| Profit and loss (P&L) | The panel’s record of your settled results by market and date. Check it after every session. |
| Rate | In sessions, the payout per ₹100: 100 is even money and 90 pays ₹90. In the bookmaker market, 45 means 1.45. |
S: Satta to Suspended
| Term | Meaning |
|---|---|
| Satta | A Hindi word for gambling or speculation, often used loosely for informal cricket betting. |
| Session | A Yes/No market on runs after a set number of overs, such as 6, 10 or 15. See our session and fancy guide. |
| Settled | A bet whose result is final and whose winnings or losses have been applied to your wallet. |
| Spread | The gap between the best back and lay price, or between the No and Yes figures of a session. |
| Stake | The amount you bet. On a lay bet, the stake is what you win, not what you risk. |
| Steam | A rapid shortening of odds caused by heavy money on one side. |
| Super Over | A one-over-per-side tie-breaker used in many T20 and ODI competitions when scores finish level, depending on the playing conditions. |
| Suspended | A market temporarily closed, usually just before a ball, after a wicket or during a review. No bets can be placed until it reopens. |
T–Z: Tie to Yes
| Term | Meaning |
|---|---|
| Tied match | A market on whether scores finish level at the end of normal play. A tie decided by a Super Over may still count as a tie for this market; check panel rules. |
| Toss market | A bet on which team wins the toss. It settles before the first ball. See does the toss matter. |
| Trading | Backing and laying the same selection at different prices to lock in profit or cut a loss before the result. |
| Underdog | The team with longer odds, considered less likely to win. |
| Unmatched bet | A bet waiting for someone to take the other side at your price. It can be cancelled until matched. |
| UTR | The unique transaction reference for a UPI or bank payment. Providers ask for it to confirm your deposit. |
| Void | A cancelled bet with the stake returned, for example after an abandonment or a clear pricing error. |
| Withdrawal | Taking money out of your ID to your bank or UPI. On our panels the minimum is ₹500 and it is usually processed the same day, subject to panel. |
| Yes | The side of a session or fancy line that wins if the figure reaches the line. Shown in blue. |
Putting the terms together: a worked example
Here is how several of these terms combine in one evening. You open your ID with a balance of ₹5,000.
- You back India in match odds for ₹1,000 at 2.20. Your exposure is ₹1,000.
- You take No on the 6-over session line 50 at rate 110 for ₹500. Your liability on it is ₹550, so exposure rises to ₹1,550 and your free balance is ₹3,450.
- India score 44 in the powerplay, so the session settles as a No win: +₹500. Exposure drops to ₹1,000 and your balance is ₹4,500 free.
- India’s price falls to 1.60. You hedge by laying ₹1,000 × 2.20 ÷ 1.60 = ₹1,375. If India win: +₹1,200 − ₹825 = +₹375. If they lose: −₹1,000 + ₹1,375 = +₹375. You have a green book.
- After the match, commission is charged on the net match odds winnings, and your P&L shows +₹875 before commission.
Glossary mistakes beginners make
- Thinking “lay stake” is what you risk — it is what you win; the liability is the risk
- Reading rate 45 as a 45% chance instead of decimal 1.45
- Assuming balance and exposure are the same thing
- Confusing “void” (stake returned) with “lost”
- Not checking whether a session line is No 48 / Yes 49 or a single figure with a 90/110 rate
Learn the terms by using them
Definitions stick faster when you see them on a live panel. Ask for a free demo ID and keep this page open, or read our guide to exchange IDs first.
Real-money online betting is restricted in India under the Promotion and Regulation of Online Gaming Act, 2025. Read about whether online betting is legal in India and our responsible gaming page before depositing. Betting carries a real risk of loss.
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FAQs
What is the difference between liability and exposure?
Liability is what you can lose on one lay bet. Exposure is the total you could lose across all your open bets.
What do khai and lagai mean?
Lagai means backing the favourite and khai means laying it. They are used mostly in the bookmaker market.
What does suspended mean on a betting panel?
The market is temporarily closed, usually just before a ball or after a wicket. You cannot place bets until it reopens.
What is a void bet?
A void bet is cancelled and your stake is returned, for example if a match is abandoned without a result.
What is fancy in cricket betting?
Fancy is the group of Yes/No number markets on Indian panels, including sessions, player runs and fall of wicket.
Is the Impact Player rule still used in the IPL?
Yes. The IPL confirmed the Impact Player regulation continues for the 2025–2027 cycle.
18+ Only. Betting involves financial risk and online betting laws in India are strict — read our legal guide and responsible gaming page.
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