Gambling Terms

Gambling Terms

Fixed Odds Betting

When you place a fixed odds bet, you are staking a certain fixed amount of money against the bookmakers money to predict the outcome of the event. The bookmakers odds reflect how much you will win from the bookmaker if your prediction is correct.

Stake

When placing a bet, your stake is the amount of money which you risk or gamble. If you win then your winnings are calculated according to the odds at which your bet was agreed.

Laying Odds

This is another term for a bookmaker taking bets. By agreeing your bet, the bookmaker is laying that particular outcome of the event. The bookmaker is risking their money to lay, or to promise to pay the winnings, should your bet be successful.

Odds Against

Odds against is the term used to describe a bet where you will receive a return of more than double your stake. The profit on the bet will be more than your stake.

Even Money

Also known as EVS, this is when the return will be double your stake. The profit on your bet will be the same as the amount you staked. Both you and the bookmaker are risking the same amount on the bet.

Odds On

Odds on is the term used to describe a bet where you will need to stake more than you will win, In fractional terms this is anything with odds of less than EVS, so 1/2 is odds on. The word ‘on’ indicates that the odds are reversed. You may hear the expression 2/1 on referring to a selection with odds of 1-2.

Short Odds

This indicates that a selection has a good chance of winning. Short odds will be where you wouldn’t receive a large return for your investment. For example a horse at 6/4 would be considered short odds.

Long Odds

This indicates that a selection has a poor chance of winning. If you bet at long odds you will receive a good return on your investment.

Accumulator

A bet that requires several different selections all to win, often to provide a large payout.

All In

A bet where all of the bank is staked.

All Out

When a horse is trying its hardest.

All Weather Racing

Horse racing that takes place on an artificial surface. Lingfield, Kempton and Wolverhampton provide a polytrack surface whilst Southwell provides a fibresand surface.

Ante Post Betting

Betting that takes place well before an event which includes all possible participants. If the selection becomes a ‘non-runner’ the bet is lost.

Apprentice

A young flat jockey who gains a weight allowance over more experienced jockeys. The weight allowance decreases as the jockey gains more victories.

Arber

A punter who locks in profit through exploiting a market by backing all outcomes of an event at a combined book of less than 100%

Arbitrage

A bet that locks in a guaranteed profit, whatever the outcome.

Asian Handicap

A football bet that gives the least likely winner a head start to make betting more competitive.

Backward

A horse that is not fit enough or developed enough to do itself justice.

Bags

Bookmakers’ Afternoon Greyhound Service

Banker

A bet that is considered to be a near certainty.

Bar

The shortest of the odds not mentioned in a betting summary or forecast.

Betfair Commission

A small percentage of winnings the company takes for providing their service

Bismarck

A horse that someone strongly thinks will be beaten (sunk).

Blinkers

A device fitted to a horse’s head which restricts it’s field of vision in order to help it’s concentration.

Blanket Finish

Several horses finish a race very close together

Bottle

A ‘tic-tac’ term used in the betting ring for 2/1.

Bumper

A national hunt race run over the flat (no hurdles or fences)

Burlington Bertie

A ‘tic-tac’ term used in the betting ring for 100/30.

Canadian

A bet on five selections covering doubles, trebles, fourfolds and a fivefold

Carpet

A ‘tic-tac’ term used in the betting ring for 3/1.

CD / C&D

Course and Distance. A sign that a horse has won over the course and distance a race is taking place.

Chasing

Betting on things you normally wouldn’t in order to recover losses.

Cheek Pieces

Head gear worn by horses to help performance

Clerk of the Scales

The official responsible for ensuring all jockeys weigh in correctly at the end of a race.

Co-Favourite

A favourite who is joint favourite with at least two other horses.

Conditional Jockey

A young jumps jockey who gains a weight allowance over more experienced jockeys. The weight allowance decreases as the jockey gains more victories.

Dam

The female parent of a horse.

Dead-Heat

When two or more horses’ finishing positions cannot be separated

Double

A bet on two horses where both are required to win

Draw

Reference to the number of starting stall a horse will begin a race from.

Drifter

A horse whose odds are getting bigger due to lack of support in the betting.

Ducking

A bookmaker is often said to be ‘ducking’ a horse or an outcome. This means they are shorter than their competitors in the betting to avoid big liabilities on selections they think will win.

Dutching

Backing more than one selection in an event with the aim of making the same profit whichever of the bets wins. Dutching is covered in detail here.

Each-way

A bet on a horse to place as well as win. Place terms depend on number of runners and type of race.

Exacta

A bet placed on the Tote that requires the first two finishing horses to be named in the correct order.

Ear’ole

A ‘tic-tac’ term used in the betting ring for 6/4.

Favourite

The selection in an event with the shortest price of winning.

Fourfold

A bet on four horses where all are required to win

Furlong

Standard distance unit in racing. A furlong is equal to 200m and there are eight furlongs in a mile.

Going

The condition of the ground at a racecourse. The going ranges from heavy to firm.

Green

Running excitedly and unecnomically associated with inexperience.

Handicap

A race where horses carry different weights based on their official rating or greyhounds get a head start based on their ability.

Hedging

Backing another outcome in an event you have already bet on to decrease the risk involved.

Heinz

A bet on six selections covering doubles, trebles, fourfolds, fivefolds and a sixfold

IBAS

A service that settles betting disputes between bookmakers and punters.

In Running

When bets are placed during an event it is known as in running betting.

Jolly

Another name given to the ‘favourite’.

Lay

Betting on something not to happen, for example a team not to win.

Layers Liability

How much a layer stands to lose if the laid selection wins.

LSP

Level Stakes Profit. The amount of profit that would have been made if all stakes had been 1 unit

Lucky 15

A bet on four selections covering singles, doubles, trebles and a fourfold

Lucky 31

A bet on five selections covering singles, doubles, trebles, fourfolds and a fivefold

Lucky 63

A bet on six selections covering singles, doubles, trebles, fourfolds, fivefolds and a sixfold

Maiden

A horse that is yet to win a race.

Monkey

A slang term used by bookmakers for £500.

Nap

A tipster’s best bet of the day.

Nb

A tipster’s second best bet of the day.

Non-Runner

A horse that was originally declared to run but is no longer participating.

NRNB

Non Runner No Bet – Bet on an antepost market where the stake is returned in the event of a non runner

Odds on

Betting on an outcome that is odds on results in the profit of the bet being less than the original stake.

On the Bit

When a horse needs no riding from the jockey

On the Nose

A bet on a horse to win

Over-round

The margin the bookmaker builds into their odds to ensure they make a profit on an event.

Overweight

An eventuality where the jockey weighs more than the weight one of his rides is supposed to carry.

Patent

A bet on three selections that covers seven bets, three singles, three doubles and a treble.

Placepot

A bet on the Tote where a placed horse must be named in the first six races on the card.

PariMutuel

A tote style betting system used in France (the only betting system in France)

Permutation

A bet that contains a large number of selections covering a large number of different outcomes

Photo Finish

When a result cannot be determined with the naked eye a photo is called for. The judge will then be able to determine the winner and winning distance using a photo.

Pony

A slang term used by bookmakers for £25.

Rag

The complete outsider in a field.

ROI

Return On Investment

Round Robin

A bet on three selections containing ‘three pairs of singles stakes about’ bets, three doubles and one treble

Rule 4

A reduction in odds on bets placed before a certain time due to a fancied runner being withdrawn. The more fancied the runner, the bigger the rule 4 deduction.

Scoop 6

A bet placed on the Tote each Saturday on six televised races, where punters compete for massive dividends.

Silks

The colours worn by a jockey

Sire

The male parent of a horse.

SP

Starting Price – the price of a horse when the race starts broadly based on an average of the on course bookmakers odds for the horse.

Spread Betting

A type of betting devised by city traders where punters must decide to buy (bet higher) or sell (bet lower) on the spread (fancied outcome by the traders).

Steamer

An outcome that has been very well backed all day.

Stewards Enquiry

An investigation into on goings in a given race. Can result in place reversal or jockey suspensions.

Tic-Tac

A type of sign language used on a racecourse by bookmakers as a means of communication.

Tissue

A betting forecast designed to predict the odds of each runner in an event.

Tongue-Tie

A breathing aid used on horses that has a strip of cloth to stabilise the tongue and stop it from sliding over the bit.

Tote

Betting system that settles bets based on dividends rather than set prices.

Treble

A bet on three horses where all are required to win

Trifecta

A bet placed on the Tote that requires the first three finishing horses to be named in the correct order.

Trixie

A bet on three selection which covers the three doubles and the one treble.

Visor

A device fitted to a horse’s head which restricts it’s field of vision in order to help it’s concentration.

Walkover

A race where there is only one runner left after a number of non-runners.

Yankee

A bet on four selections that covers the six doubles, four trebles and one fourfold.

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