| A |
|
| Accumulator |
A
cumulative bet where the bettor designates a selection in several
races or events and bets on the first one; if he wins, the winnings
become his bet on the next; and so on (also see fold bets). |
| Across
the Board |
Where
(particularly US horse racing) win, place and show pools are
offered, this is a bet of equal stakes on each outcome. |
| Action |
A
bet or wager of any kind is deemed Action if valid. Different rules
apply in different sports in determining if a bet is action or no
action (e.g. baseball bets are action when the game gets beyond 4½
innings). |
| Ajax |
UK
Slang term for Betting
Tax. |
| Also
Ran |
Any
selection not finishing 1st, 2nd, 3rd or 4th in a race or event. |
| Ante-Post |
Ante-post
prices are those on major sporting events, usually prior to the day
of the event itself. In return for the chance of better odds,
punters risk the fact that stakes are not returned if their
selection pulls out. |
| Any
To Come(ATC) |
Term
used to describe when the whole or part of returns from one wager
are automatically reinvested on a subsequent bet. |
| Arbitrage |
Where
a variation in odds available allows a punter to back both sides and
guarantee a win. |
| B |
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|
| Banker |
A
punter's strong selection or "sure thing". An almost
guaranteed winner, as in a Lock.
Also, in permutation bets the banker is a selection that must win to
guarantee any returns. |
| Bar |
Those
runners in a race not quoted with a price during early betting
shows. The bar price is the minimum odds for any of those selections
not quoted. |
| Baseball
(US) |
In
horse racing, a Daily
double is
a play in which a bettor couples a horse in one race with all horses
in the other (also known as "wheeling"). |
| Beard
(US) |
A
contact (friend or acquaintance) who places bets for a bettor who
wants to hide their identity from bookmakers. |
| Beeswax |
UK
slang term for betting
tax. (also known as "bees" or "ajax") |
| Bettor
(US) |
Someone
who has a bet. A "punter" in the UK. |
| Betting
Tax |
Tax
on a bookmaker's turnover. More correctly, in the UK this is a
"duty" charged by Customs and Excise at the rate of 6.75p
on every pound wagered. Common methods of recouping this are to
deduct tax from returns or allow the punter to pay tax with his
stake. In the latter event, no tax is deducted from the punter's
winnings. |
| Blind
Bet |
A
bet made by a racetrack bookmaker to draw other bookmakers'
attention away from his sizeable betting on another horse- and thus
to avoid a shortening of the odds on the other horse. |
| Book |
A
bookmaker's tally of amounts bet on each competitor, and odds
necessary to assure him of profit. |
| Bookmaker |
A
person or company who accepts bets from the public, usually on
racing or sports events (also known as a "bookie"). |
| Bottle |
UK
slang, Odds of 2 to 1. |
| Breakage
(US) |
Difference
between true pari-mutuel odds and lesser, rounded amounts given to
winning bettors. The substantial residues go to the racetracks and
controlling state authorities. |
| Bridge-Jumper
(US) |
Bettor
who specializes in large show bets on odd-on favourites. |
| Buck
(US) |
A
bet of $100 USD (also known as a "dollar bet"). |
| Burlington
Bertie |
Odds
of 100 to 30 (also known as "scruffy and dirty"). About
the only remaining example of French
Odds still
commonly used. |
| Buy
Price |
In Spread or
Index betting, the higher figure quoted by an Index bookmaker. |
| Buy
the Rack (US) |
Purchase
every possible daily-double or other combination ticket. |
| C |
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|
| C
of E |
Slang
for UK Customs and Excise. |
| Canadian |
A
multiple bet consisting of 26 bets (10 doubles, 10 trebles, 5
4-folds and 1 5-fold) with 5 selections in different events (also
known as a "Super Yankee"). |
| Carpet |
UK
slang for Odds of 3 to 1 (also known as "tres" or "gimmel") |
| Carpet
Joint |
US
Slang for a luxury gambling casino. |
| Century |
£100
GBP (also known as a "ton") |
| Chalk
(US) |
Betting
favourite. |
| Chalk
Player (US) |
Bettor
on favourites. |
| Circled
Game (US) |
When
a bookmaker puts a limit on the amount of action they are prepared
to take on the game. This is most often due to doubts about key
players. |
| Client
(US) |
Purchaser
of betting information from horseman or other tipster. |
| Clocker
(US) |
Person
who times workouts, usually for betting information. |
| Close
(US) |
Final
odds on a horse (e.g. "closed at 5 to 1"). Confusingly
equates to "Starting Price"
in the UK. |
| Co-Favourites |
Where
three or more competitors share the status as favourite (have lowest
odds). |
| Combination
(US) |
Across
the board bet
for which a single pari-mutuel ticket is issued. |
| Consolation
Double (US) |
When
horse is scratched from 2nd race after daily
doublebetting begins, money is set aside to pay those who have
bought tickets pairing this horse with winner of 1st race. |
| Cover |
In
sports betting, beating the spread by a required number of points.
To "cover the spread". |
| D |
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|
| Daily
Double (US) |
Form
of pari-mutuel betting in which the bettor makes a combination bet
on two horses in two races. If the bettor wins on the 1st race, his
winnings become his stake on the 2nd. |
| Dead
Heat |
Where
two or more competitors finish tied. For non-pari-mutuel betting
purposes in a dead heat, full odds are paid to half the stake (one
third if a triple dead heat, etc.). |
| Dime
(US) |
A
bet of $1,000 USD (also known as a "dime bet"). |
| Dividend |
(see Tote
Returns) |
| Dog
(US) |
The underdog in
any betting proposition. |
| Dog
Player (US) |
A
bettor who mainly wagers on the underdog. |
| Double |
A
bet consisting of two selections, both of which must win for the
wager to be successful. |
| Double
Stakes About (or DSA) |
Like Single
Stakes About, but where returns from the 1st winning selection
are invested at double the original stake on the 2nd selection.
(Note: you can also have Triple SA, Quadruple SA etc.). |
| Double
Carpet |
UK
slang for Odds of 33 to 1, based on Carpet. |
| Doubling-up |
The
basis of some widely used systems. After a loss the player doubles
the size of his previous bet hoping to win back the money lost and
make a profit. Also known as a Martingale system. |
| Drift |
When
the odds on a competitor "lengthen", they are said to have
"drifted" or be "on the drift". |
| Dual
Forecast |
A tote bet
operating in races of 3 or more declared runners in which the punter
has to pick the first two to finish in either order. |
| Dunn |
Having
two breakfasts, a lunch and three evening meals |
| E |
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|
| Each-Way |
A
bet which consists of two wagers. The first is for the selection to
win and the second is for the selection to place, at a proportional
price dependant on the place
terms. |
| Evens |
Odds
of 1 to 1 (also known as "scotch" or "levels"). |
| Exacta
(US) |
Form
of betting in which bettor attempts to pick winner and 2nd horse,
buying one mutuel ticket on the double choice (also known as
"exactor" or "perfecta"). |
| Exotic
Wager (US) |
Any
wager which is not a straight
bet, e.g. round
robin,parlay, teaser. |
| F |
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|
| Favourite (fav) |
The
competitor considered most likely to win and therefore has the
shortest or lowest odds (also known as the "jolly" or
"sponk"). |
| Fold |
When
preceded by a number, a fold indicates the number of selections in
an accumulator (e.g.
5-Fold= 5 selections). |
| Figure |
To
have a winning chance or the handicapper's rating number that
identifies the winning chance (also "fig."). |
| Flag |
A
bet consisting of 23 bets (a "Yankee"
plus 6 "Single Stakes About" bets in
pairs) on 4 selections in different event. |
| Flash
(US) |
Change
of odds information on tote board. |
| Forecast |
A
wager that involves correctly predicting the 1st and 2nd for a
particular event. This bet can be reversed or permed (also
see dual and straight forecasts). |
| Form |
Past
performances used to give an indication of the competitor's chances.
In US, short for the Daily
Racing Form. |
| Form
Player |
A
bettor who makes selections from past-performance records. |
| French
Odds |
Expression
of odds as 100 to 6, 100 to 8, etc. The name goes back to the days
when the French had a "metric" money system while UK still
used 1 pound of 240 old pence. |
| Full
Cover |
All
the doubles, trebles and accumulators involved in a given number of
selections. |
| Futures
(US) |
Odds
offered on winners of sporting events in advance of the event itself
(see ante-post). |
| G |
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|
| Goliath |
A
multiple consisting of 247 bets (28 doubles, 56 trebles, 70 4-folds,
56 5-folds, 28 6-folds, 8 7-folds and 1 8-fold) involving 8
selections in different events. |
| Grand |
£1,000
GBP (also known as a "big 'un") |
| H |
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|
| Handicap |
A
method used by bookmakers to make a one-sided event become a more
attractive betting proposition. Teams are awarded a number of points
start depending on their calibre (also known as the "pointspread"
or "line"). |
| Handle
(US) |
Total
sum bet on a race or in a day or some other period. |
| Hang
Cheng |
A
form of soccer betting popular in Asia where returns on a team
winning or drawing are determined by part-goal handicaps. |
| Hedging |
A
bet made by a cautious bookie on a horse on which he has accepted
large bets - in order to cut his losses if the horse wins (also
known as a "lay-off bet"). |
| Heinz |
A
multiple bet consisting of 57 bets (15 doubles, 20 trebles, 15
4-folds, 6 5-folds and 1 6-fold) involving 6 horses in different
races. |
| House |
A
casino or gambling centre. Also the operators of a gambling game. |
| I |
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|
| In
the Money |
Describes
the horses in a race that finish 1st, 2nd and 3rd (and sometimes
4th) or the horses on which money will be paid to bettors, depending
on the place
terms. |
| J |
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|
| Joint
Favourites (jt-fav) |
When
bookmakers cannot separate two horses or teams for favouritism, they
are made joint favourites. |
| Jolly |
The
favourite. |
| Juice
(US) |
The
commission paid to the bookmaker (also known asvigorish). |
| K |
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|
| Kite |
UK
slang for a cheque ("check" in the US). |
| L |
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|
| Layer |
A
bookmaker or one who "lays" odds. |
| LBO |
Acronym
for "Licensed Betting Office" in the UK. |
| Long
Odds |
Odds
(e.g. 100 to 1) offered against a competitor unlikely to win. |
| Lines |
Handicaps, pointspreads and
odds offered to the punter. |
| Linemaker |
One
who compiles or sets the original or subsequent betting lines. |
| Lock (US) |
Term
used for an almost guaranteed winner. |
| Longshot |
The
outsider or unfancied runner, usually against which "long
odds" have been offered. |
| Lucky
15,31,63 |
Multiple
bets on all possible combinations of 4, 5 or 6 selections. A Lucky
15 (same as a Yap)
is 4 selections, so 4 singles, 6 doubles, 4 trebles and 1
accumulator = 15 bets. |
| M |
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|
| Machines
(US) |
The
pari-mutuel computers/calculators. |
| Martingale |
Betting
system based on doubling-up. |
| Minus
Pools (US) |
In
pari-mutuel betting, a situation in which so much money is bet on a
horse (usually to show) that the pool is insufficient, after take
and breakage,
to pay holders of winning tickets the legal minimum odds. |
| Monkey |
£500
GBP. |
| Morning
Line |
Forecast
of probable odds. |
| Mutuel
Pool |
Total
amount bet to win, place or show in a race. Also total amount bet on daily
double, exacta, quinella,
etc. |
| N |
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|
| Nap |
The
selection that racing correspondents and tipsters nominate as their
strongest selection of the day or meeting. Reputed to stand for
"Napoleon". |
| Nickel
(US) |
A
bet of $500 USD. |
| No
Action |
see Action. |
| O |
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|
| Odds |
Odds
are the bookmaker's view of the chance of a competitor winning
(adjusted to include a profit). |
| Odds-against |
Where
the odds are greater than evens (e.g.
"5 to 2"). |
| Odds
Compiler |
The
person working for the bookmaker who sets the odds following
research and his own feelings. |
| Odds
Man (US) |
At
tracks where computers are not in use, an employee who calculates
changing odds as betting progresses. |
| Odds-on |
Where
the odds are shorter than evens (e.g.
"4 to 7"). If the selection wins, the amount won is less
than the amount staked (don't forget, you get your stake back as
well!). |
| Off
the Board (US) |
A
horse so lightly bet that its pari-mutuel odds exceed 99 to 1. Also,
a game or event on which the bookie will not acceptaction. |
| Off
the Top |
The
practice of deducting a fixed "take" percentage from the
pari-mutuel pool before paying holders of winning tickets. |
| Off-Track |
Betting
conducted away from the track. |
| On
the Nose (US) |
A
bet that a horse will win. |
| OTB
(US) |
Acronym
for "Off-Track Betting" in the US, legal only in certain
states. |
| Outsider |
(also
known as "The Rag"). |
| Overbroke |
Where
the book results in a loss for the bookmaker. |
| Overlay |
Horse
whose odds are high by comparison with its good winning chances. |
| Overround |
Profit
margin in the bookmaker's favour. |
| P |
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|
| Pari-Mutuel |
A
means of gambling on races in which all bets are pooled and winners
are paid according to size of pool and the number of other winners.
Often shortened in US to mutuel. |
| Parlay
(US) |
Term
for an accumulator bet
in horse racing. Also, a wager on two or more teams in which both
must win or "cover" for the bet to be
lucrative. |
| Patent |
A
multiple bet consisting of 7 bets involving 3 selections in
different events. A single on each selection, plus 3 doubles and 1
treble. |
| Permutations |
It
is possible to "perm" bets or selections (e.g. on 4
selections all the possible doubles could be "permed"
making 6 bets). |
| Pic
Six (US) |
A
proposition which challenges the bettor to pick six winners of six
successive races (also known as "pick six" or
"five-ten"). |
| Picks |
The
selections chosen by an expert to bet on (also known as
"tips"). |
| Pitch |
The
position where a bookmaker conducts his business on a racecourse. |
| Place
(US) |
The
term used to describe a 2nd place finish. |
| Place
Terms |
In
non pari-mutuel betting, the returns for place bets are calculated
as a proportion of the win odds. This varies between events and
sports. Bookmakers clearly advertise the place terms in operation
when the bet is struck. |
| Pointspread |
The
start that the favourite gives
the underdog.
Also known as the "line" or "handicap". |
| Pony |
£25
GBP. |
| Pool |
Total
amount bet for win, place or show, or in a daily
double. |
| Punter |
UK
term for someone who has a bet ("bettor" in the US). |
| Q |
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|
| Quinella
(US) |
A
bet in which the bettor predicts the horses that will finish 1st and
2nd, regardless of order (sometimes called a "quiniela"). |
| R |
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|
| Right
Price (US) |
Among
players, pari-mutuel odds high enough to warrant risking a bet on a
particular animal. |
| Ringer |
A
horse (or greyhound) entered in a race under another's name -
usually a good runner replacing a poorer one. |
| Roundabout |
A
bet consisting of 3 bets involving three selections in different
events (i.e. 1 single any
to come and
double stake double on remaining two selections, 3 times). |
| Rounder |
A
bet consisting of 3 bets involving three selections in different
events (i.e. 1 single any
to come a single
stake double on remaining two selections, 3 times). |
| Round
Robin |
A
bet consisting of 10 bets (3 pairs of "Single
Stakes About" bets plus 3 doubles and 1 treble) involving
three selections in different events. |
| Round
Robin (US) |
A
series of three or more teams into two-team wagers. |
| Runner
(US) |
In
racing, a bookie's employee who gathers information on the progress
of betting elsewhere on the course. Also, a messenger
"running" to and from pari-mutuel windows for occupants of
clubhouse boxes. |
| S |
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|
| Sawdust
Joint (US) |
A
term for a non-luxury gambling club. |
| Score |
£20
GBP. |
| Score
(US) |
To
win a race or a bet. Also, a victory. |
| Scratch
(US) |
The
withdrawal of a competitor. |
| Scratch
Sheet (US) |
Daily
publication that includes graded handicaps, tips and scratches. |
| Settler |
A
bookmaker's expert who calculates payouts. |
| Shoo
In (US) |
A
supposed cinch bet or guaranteed victor. Also, a fixed race. |
| Shortening
the Odds |
A
bookmaker's reduction of the odds offered in the face of heavy
betting. |
| Short
Price (US) |
Small
pari-mutuel payoff. |
| Show
(US) |
The
term used to describe a 3rd place finish. |
| Shut
Out (US) |
What
happens to a bettor who gets on the betting line to late and is
still waiting in line when the window closes. Also, in sports
betting, when the losing team do not score. |
| Single |
A
"straight" bet on one selection to win one race or event. |
| Single
Stakes About (or
SSA) |
A
bet consisting of 2 bets on two selections (1 single on each
selection any
to come 1 single
on the other selection reversed). |
| Six-Dollar
Combine (US) |
An across-the-board bet
in racing. |
| Smart
Money |
Insiders'
bets or the insiders themselves. |
| Spot
Play (US) |
Type
of play in which bettor risks money only on types of races and
horses which seem relatively worthwhile risks. |
| Spread
Betting |
A
bet is won or lost according to whether you correctly predict the
result of an event (also known as "action line" or
"money line"). Returns or losses are calculated in
proportion to how right or wrong the bettor is, and can lead to huge
returns or losses. |
| Spreads |
Also
known as handicaps. |
| Starting
Price |
In
non-pari-mutuel betting, unless a punter requests otherwise, all
wagers are settled at starting price (SP). The SP is arrived at by
taking the average available in the betting ring on the racecourse,
shortly before the "off". |
| Stooper
(US) |
Those
who make a living picking up discarded mutuel tickets at racetracks
and cashing those that have been thrown away by mistake. |
| Super
Yankee |
Alternative
name for a multiple bet known as Canadian,
a Super Yankee is a Yankee type
bet with five selections instead of four. |
| Store
(US) |
A
bookie. |
| Straight
(US) |
Another
term for a bet to win (i.e. "straight, place and show"). |
| Straight
Forecast |
A tote bet
operating in races of 3 or more declared runners in which the punter
has to pick the first and second to finish in the correct order. |
| Super
Yankee |
see
"Canadian". |
| Sure
Thing |
Any
bet that has very little chance of losing. |
| System |
A
method of betting, usually mathematically based, used by a punter to
get an advantage (if successful!). |
| T |
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|
| Take
(US) |
Money
deducted from each pari-mutuel pool for track revenue and taxes. |
| Taking
(US) |
Betting
on the underdog. In a match bet, the underdog is usually odds
against, so the bettor is "Taking the odds". |
| Take
Out (US) |
That
part of the pari-mutuel pools not returned as winnings. |
| Teaser
(US) |
A pointspread based
bet where the bettor can move the linein
his favour (in return for reduced odds). |
| Thick
'un |
A
big bet. |
| Ticketer
(US) |
A
forger of bookmakers' tickets. |
| Tic-Tac |
The
code of hand signals by which UK oncourse bookmakers' employees
relay information on current odds and betting around the course
(e.g. "top of the head"= 9 to 4, "up the arm"=
11 to 8). |
| Tiercé |
A
French combination bet in which the bettor predicts the horses that
will finish 1st, 2nd and 3rd. |
| Tips |
The
selections chosen by an expert to bet on (also known as
"picks"). |
| Tipster |
A
person who gives or sells to bettors his estimate of likely winners
of a race, game or event (also known as a "tout"). |
| Totalisator
(US) |
Automated
pari-mutuel machine which records bets as soon as tickets are
dispensed at betting windows. |
| Totals |
Sports
bet on whether the total score will be over/under a given mark. |
| Tote |
'The
Horserace Totalisator Board' otherwise known as "The
Tote". A body in the UK set up to operate pool-betting on
all racecourses. |
| Tote
Returns |
Returns
from a tote pool (also known as a "dividend"). Calculated
by taking the total stake in each pool (after the take out) and
dividing it by the number of winning tickets. A dividend is declared
to a fixed stake, for various win, place and forecast pools. |
| Tote
Board |
A
racecourse information board that displays approximate odds, betting
totals, payout prices and other information necessary to the punter. |
| Tout |
To
give or sell betting advice or one who does so (also known as a
"tipster"). |
| Treble |
A
bet consisting of 3 selections, all of which must win for the wager
to be successful. |
| Tricast |
A
bet which involves correctly predicting the 1st, 2nd and 3rd place
in an event. |
| Trifecta
(US) |
Bet
in which the bettor picks the first three finishers in exact order
(also known as "triple"). |
| Trixie |
A
multiple bet consisting of 4 bets (3 doubles and 1 treble) with 3
selections in different events. |
| Turf
Accountant |
The
UK euphemism for a bookmaker. |
| U |
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|
| Underdog |
The
team that receives a point start in a handicap. |
| Union
Jack |
A
bet consisting of 8 trebles on 9 selections A to I: ABC, DEF, GHI,
ADG, BEH, CFI, AEI, and CEG. |
 |
| V |
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|
| Value |
Getting
the best odds on a wager. |
| Vigorish
(US) |
The
bookmaker's commission (also known as "vig" or "juice"). |
| W |
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|
| Welsh/Welch |
To
fail to pay a gambling bet. |
| Wheel
(US) |
A
form of betting in which daily
double, perfecta or quinellaplayer
makes every possible combination bet on his favoured horse or
horses. |
| Wheeling
(US) |
A
racing system devised for the daily
double bet in
which the bettor backs one horse in the first race and every horse
in the second (also known as "baseball" or
"locking"). |
| Win |
The
term used to describe a 1st place finish. |
| Winning
Margin |
A
bet to predict the winning margin of one team over another. |
| Wise
Guy (US) |
A
knowledgeable or well-informed bettor or handicapper. |
| With
the Field |
Having
one horse linked with all the other horses in an event. It can apply
to forecasts or
in doubles. |
| X |
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|
| "X" |
Taken
to mean 'a draw' on a soccer betting coupon. |
| Y |
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|
| Yankee |
A
multiple bet consisting of 11 bets (6 doubles, 4 trebles and 1
4-fold) on 4 selections in different events. |
| Yap |
"Yankee
Patent" - The same 11 bets as a "Yankee", but with
singles on each of the 4 selections as well, making 15 bets in all
(also known as a "Lucky 15"). |
| Z |
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|
| Zero |
The
value of most betting systems and tips! |
