A GLOSSARY OF BETTING AND BETTING TERMS FOR THE NOVICE PUNTER.
This article is for the novice punter who maybe baffled by horse racing,football and other sporting terms.
This will just be a quick and brief explanation of all the betting terms,bets and other examples that you need to know whether betting online,in the betting shops or on the racecourse.
Full in depth explanations of many of the topics you find below can also be found on out main page and articles page at SAFE BOOKMAKERS SITES .
ACROSS THE BOARD BETS
American terminolgy whereby a punter will bet Across the Board which means equal bets on the 3 bets on offer - win,show,and place - 3 equal bets on each.
This is when a punter selects 4 or more selections in one bet.They all have to win to collect.You can bet each way in accumulators and that now makes 2 separate bets - 1 win accumulator and one place accumulator.
ALL WEATHER RACING
Introduced in England fairly recently and it refers to horse racing on sand or Polytrack - often called dirt racing elsewhere.Usually poor grade racing with lack of excitement or punter interest. Introduced originally to hold meetings in England when bad weather caused National Hunt meetings to be abandoned.
AMERICAN BETTING ODDS FORMAT
The American betting odds are based on either $100 profit,or the figure you need to wager to make $100 profit.This means you will either get a negative or positive figure,for example,if the odds are quoted at 120 you will win 120 for every 100 you bet,and if the figure is - 120 (negative)you will need to wager 120 to win 100.
ANY TO COME BETS
These were bets that were used in U.K. to limit tax payments - if one selection won you would increase bet on other selection(s).Now out of fashion as tax is no longer levied on your stakes when betting.
This is the happy position punters can find themselves in when wagering 2 bets at different locations on all outcomes,and whatever happens the punter cannot lose.Betting Exchanges now make arbitrage positions easier than ever to accomplish.
ASIAN HANDICAP BETTING
This is simply a form of betting on football that reduces the possible outcomes of a football match from 3(home,draw,away)to just 2 possibilities.They achieve that by quoting half or even quarter goals in the betting odds markets.
This is when you take a price for a horse race weeks or even months before the event takes price.This allows you to take a much bigger price than would be expected on the day of the race.But,if the horse is withdrawn or injured and does not run you lose your money !.
This is when you feel confident about one of your selections in a multiple bet and it must win for bet to collect.Used mainly in perms to limit the number of bets you have to pay for.
When you see a betting show not all outsiders are quoted.After fancied horse are listed you will see,for example,25/1 Bar,which means all other horses or participants are at least 25/1 and upwards odds.
A new concept for betting - cut out the bookmaker,and punters bet between each other.You can lay bets,or back as normal,but this time you are taking a price that a fellow punter has offered you.Fixed odds bets are also now available at Betting Exchanges,but they are much less value than you can get from other members on exchange.
These are the only races at National Hunt meetings where no hurdles or fences are jumped.The idea of Bumpers is to introduce horses,that will eventually go hurdling or chasing,into the racing environment,and get them fit before tackling the real obstacles.
This is bet where you make 6 selections.No singles,but 15 doubles,20 trebles,15 four timers,6 five timers and one accumulator - 57 bets(and sometimes called a Heinz Bet).
These are horse races where the owner or trainers decides how much weight the horse will carry in the race - the lower weight you allocate the lower the claiming or selling price.Buyers can also claim or buy any other horse that took part in that particular claimer.
These are horse races that allow horses that have run three times or won one race of two,the weights have maximum ceiling.
DECIMAL BETTING ODDS
This is the way of displaying odds in decimal format as opposed to the English fractional betting odds.This means odds are displayed as,for example 9/5 which is roughly the equivalent to 7/4,14/5 instead of 11/4 and so on.
This is when a punter picks 2 selections and if win double,they both must win to collect.Win and Place doubles can also be made and this will cost twice as much as 2 bets are now being made - 1 win bet and one place bet.
This is a football bonus paid by many bookmakers on first goalscorer market.If your selected player scores first,and then score again you get paid double original odds.
EACH WAY BETTING.
You can also have place part of any bets you make.So,if for example you have an each way yankee it will DOUBLE your cost - 2 separate bets one win Yankee and one place Yankee.For place betting you get paid first 2 in races of 7 or less runners,first 3 places all other races,with the exception of HANDICAP races of 16 or more when you get paid first 4 places.
This is the Tote's equivalent to the straight forecast.Unlike straight forecast,which is fixed odds,the Exacta pays a dividend declared on the number of Tote customers who backed the winning forecast - often better payout than straight forecast.
This is always a reference to horses racing on grass,and not to be confused with All Weather Racing.As the name suggests,there are no hurdles or fences to be jumped at flat meetings - they are National Hunt meetings.
FRACTIONAL BETTING ODDS
The English format of fractional betting odds is a throwback to pre decimal days of 1970 and before.Racing authorities wanted to adopt the decimal betting system in 1971,but resistance was shown by punters and bookmakers to any change to hundreds of years of betting tradition.The fraction betting format was based on the old two shillings and sixpence which was one eighth of a pound - that's why fractions was,and is still used,with odds like 15/8 and 13/8 still displayed on the racecourse and betting sites in the U.K.
FULL COVER BETS
This is when you place a bet and have full cover for all outcomes from singles,doubles,trebles and accumulators.
This bet involves 8 selections and contains a huge number of bets - 247 in total.You get full cover of singles and upwards,but bet does not include singles.
These horse races are confined to the very best horses in training.There are 3 levels of Group 1,Group 2,and Group 3,with the elite of these horse competing in Group 1 races.
These are open to lesser quality horses,and the weight they carry is calculated by the handicapper,and the better the horse's form the more weight they carry - in theory,the handicapper wants to organise a race where all horses have the same chance of winning and they should all finish in a dead heat.
HAT TRICK HEAVEN
This is a bonus paid by many bookmakers in the first goalscorer market.If your player scores first and then goes on to score a hat trick,you get treble the original odds.
This is when a bookmakers lays off,or hedges bets with other bookmakers when a bet looks dangerous and the bookmaker wants to limit the liabilities he has to pay out.
These are horse races where they may graduate to Group races as they improve - they are the level of flat races just below Group race.
LUCKY 15 BET
This bet is the same as a Yankee but this time you also get singles included.So,15 bets - 4 singles,6 doubles,4 trebles,1 accumulator.Bookies pay double,sometimes treble odds for single if you have just 1 winner.
LUCKY 31 BET
Same bet as Lucky 15,but this time you have 5 selections and the reason it is Lucky 31 is there are 31 bets - singles,plus full cover doubles,trebles and acummulators.Again consolation bonus if you have just one winner.
LUCKY 63 BET
One step on from Lucky 31 bet,as you now have 6 selections.Again you get singles and full cover doubles,trebles and accumulators.Bookies pay double or treble odds if just 1 winner.
These are horse races where all the competing horses have never before won a race.
NATIONAL HUNT RACING
This is racing on grass when horses jump obstacles over long distance races.Hurdle and Chase races are the scheduled races,with a bumper race(flat race for future jumpers)usually as the final event.
These are races in the National Hunt calendar and are restricted to horses that have won a maximum of 2 races.
NURSERY HORSE RACES
These are handicap races that are restricted to 2 year old horses.
ODDS ON BETS
This is when there is a hot favourite and starts at less than evens.In a sense the backer of odds on bets is now the bookmaker as the potential winnings are less than the stake.
When formulating odds the bookmakers work to a percentages with a built in profit margin if all horses are backed to level stakes.Being overbroke happens from time to time when losing or under duress the bookmaker goes overbroke and his percentage profit no longer applies.
This is a term used mainly in spread betting when you bet either over or under(sometimes called buy or sell)the quoted price.If you think the quoted price is too low,you buy(over),if you think it is too high,you sell(under).Now often seen on fixed odds bookmakers sites and no longer the preserve of spread bettors.
PARI - MUTUAL
This is the French,and some other racing centres,version of Tote betting.
This is an American Racing and sports betting term that just means the same as accumulator in most other betting locations.
Popular bet with horse racing or football bettors.It is full cover bet for 3 selections - 3 singles,3 doubles and 1 treble - 7 bets in total.
PERMUTATIONS OR PERMS
This is a popular way of betting when you are backing high odds events with small stakes.You can bet 2 or more in each event and combine them with other permed selections or a banker.
POINT TO POINT RACING
This is racing below the standard of normal regulated meetings held in U.K. and Ireland.Organised at rural locations,the riders and officials are amateur and hold these meetings to celebrate their love of horses,hunting and horse racing.No hurdle races at Point to Point meetings,just Hunter Chase races.
This is Tote bet where you have to find 6 placed horses in the first 6 races of any meeting.They don't need to win,just get placed in every leg.
This is a Tote bet that lets you have another go at the Placepot.Bet is based on last 4 legs of Placepots races - same rules.Easier to win than Placepot with lower dividends.
A bet mainly used in America,but also popular on racetracks around the world.It means you pick 2 horses and win if they finish first and second in any order - just the same as a dual forecast bet in the U.K.
All race have a classification number in the racecard or form book.The pinnacle is Group Races that are classified as 1 through to the lowest handicapper which is classified at 7.
ROUND ROBIN BET
Popular years ago as a way of avoiding tax on bet,which no longer applies,so bet almost never seen these days.Bet consisted of 3 selections with any to come format that increased bets on other selections if one selection won.
RULE 4 DEDUCTIONS
This protects the bookmakers when a horse is withdrawn very late or at the off.Punters get annoyed with Rule 4,but it is fair deduction.If the horse that is withdrawn had raced it may have won and your selection would then be a loser.The deductions reflect this and vary from 05p through to much higher deductions based on the price of withdrawn horse.
These are for low quality or unsuccessful horses that owners want to sell.Anyone can buy the winner by auction on the racetrack after the race - and you can also bid for any other horse that took part in that particular seller.
This is a Saturday only bet based on the best races of the day.You need to pick 6 winners to win big payout and then the following week you have chance to win Bonus Jackpot.Six placed horses in Scoop 6 will also be declared with separate dividend.
Bookmakers offer odds to punters throughout build up to the start of race.The odds fluctuate wildly as punters make their bets and bookmakers adjust the odds in response.The starting price is the price compiled by officials that were on offer as stalls open and race begins.
This is when you have to select the first 2 in a horse race - in the correct order.Perms and reverse forecasts are accepted to increase your chances of winning.Not to be confused with the Exacta bet which is the Tote version of this bet.
SUPER YANKEE BET
Same bet as Yankee,but with one more selection this time and 5 in all.No singles,but 10 doubles,10 trebles,5 four timers,and 1 accumulator - 26 bets in total.
This is a Tote bet where you back 2 horses (or more if doing a perm),and you get paid in 3 dividends - first and second,first and third,second and third.
This is when all your bets are pooled together and sent to the racetrack holding the meeting.From singles,to forecasts,Scoop 6 and other jackpot bets they are added together and the winning dividend,usually to £1 unit is declared.The Tote make their money by taking a percentage of the total amount bet as payment for hosting and organizing tote betting.
This is a bet that runs every day on U.K. racing.You have to pick first 6 winners of the selected Jackpot meeting.Perms are accepted,and lower unit bets can be placed.Sometimes huge rollovers particularly in the summer when runners are more abundant.
This is when 3 selections are made and all must win if just the treble(no doubles)were included.Each way bets can also be placed - that is one win treble and one place treble - 2 separate bets.
This is a Tote bet where you must select the first 3 home in any horse race - in the correct order.Perms and reverse bets are accepted.
UNION JACK (OR FLAG ) BET
This is a fun bet when punters can make just 9 bets and back them in trebles in the format of a flag,and you get winning trebles in a random way.Normally you would have to make 84 bets for trebles,but the Union Jack Bet is just 9 bets - 8 trebles and one accumulator.
This is a bet on any sport where the punter has 4 selections - 6 doubles,4 trebles,and one accumulator - 11 bets in total.
By Pendil at .©,SAFE BOOKMAKERS SITES This article can be reproduced by anyone,so long as article is reproduced in full and intact with all links unchanged.End of article.
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