Horse Betting Lexicon
Unit of measurement about the length of a horse's neck.
Smallest advantage a horse can win by.
Claim of foul lodged by rider, patrol judge, or other official after the running of a race. If lodged by an official, it is called an inquiry.
The sportsbook's or bookmaker's view of the chance of a competitor winning (adjusted to include a profit). The figure or fraction by which a bookmaker or totalisator offers to multiply a bettor's stake, which the bettor is entitled to receive (plus his or her own stake) if their selection wins.
A term to describe that the odds are greater than evens (e.g. 5 to 2), when the bookmaker's or totalisator's stake is greater than the bettor's stake. For example, a horse that is quoted at 4:1 would be odds against, because if it wins a race, the bookmaker or totalisator returns $4 for every dollar a bettor places on that horse, plus his or her original outlay.
A person who sets the betting odds. Note that sportsbooks or bookies don't set the odds. Most major sportsbooks use odds set by Las Vegas oddsmakers.
Odds of less than even money. This is a bet where you have to outlay more than you win. For example if a horse is two to one odds-on, you have to outlay two dollars to win one dollar and if the horse wins you collect a total of three dollars (the two dollars you bet and the one dollar you won).
The sign displayed when result is confirmed. Also a racing official.
Wagering at legalized betting outlets.
On the Board
Finishing among the first three.
On the Nose
Betting a horse to win only.
The money a bettor wagers is called his or her outlay.
Out of the Money
A horse that finishes worse than third.
A horse that is not expected to win. An outsider is usually quoted at the highest odds.
Where the book results in a loss for the bookmaker.
A horse going off at higher odds than it appears to warrant, based on its past performances.
A race in which entries close a specific number of hours before running (such as 48 hours), as opposed to a stakes race for which nominations close weeks and sometimes months in advance.
Over the Top
When a horse is considered to have reached its peak for that season.
Surplus weight carried by a horse when the rider cannot make the assigned weight.
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