Accumulator – A multiple bet. A kind of ‘let-it-ride’ bet. Making simultaneous selections on two or more races with the intent of pressing the winnings of the first win on the bet of the following race selected, and so on. All the selections made must win for you to win the parlay.
Ante-post – Bets placed in advance, predicting the outcome of a future event. In return for the chance of better odds, punters risk the fact that stakes are not returned if their selection pulls out or is cancelled.
Back – To bet or wager.
Backed – A ‘backed’ horse is one on which lots of bets have been placed.
Backed-in – A horse which is backed-in means that bettors have outlaid a lot of money on that horse, with the result being a decrease in the odds offered.
Banker – Highly expected to win.
Bar price – Refers to the odds of 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.
Betting ring – The main area at a racecourse where the bookmakers operate.
Bismarck – A favourite that the bookmakers do not expect to win or ‘go down’.
Bottle – 2/1.
Burlington Bertie – 100/30.
Canadian – Also known as a Super Yankee. A Canadian is a combination bet consisting of 26 bets with 5 selections in different events. The combination bet is made up of 10 doubles, 10 trebles, five 4-folds and one 5-fold.
Carpet – 3/1
Drift – Odds that ‘lengthen’, are said to have drifted, or be ‘on the drift’.
Each-way – UK term for betting on a horse to win and/or ‘place’. An each-way bet is when you have the same amount on the horse for a win and for a place.
Favourite – The most popular horse in a race, which is quoted at the lowest odds because it is deemed to have the best chance of winning the race.
Fixed odds – Your dividend is fixed at the odds when you placed your bet.
Fold – When preceded by a number, a fold indicates the number of selections in an accumulator (e.g. 5-Fold = 5 selections).
Forecast – A bet that involves correctly predicting the 1st and 2nd for a particular event. This bet can be straight, reversed or permed.
(To) Hedge – The covering of a bet with a second bet.
Heinz – A Heinz is a multiple bet consisting of 57 bets involving 6 selections in different events. The multiple bet breakdown is 15 doubles, 20 trebles, 15×4-folds, 6×5-folds and one 6-fold.
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.
In the red – Are odds shown in red on the betting boards because they are odds-on bets.
Jackpot – A type of bet in which the winners of all the included races must be selected.
Joint-favourites – When a bookmaker cannot separate two horses for favouritism, they are made joint favourites.
Jolly – The favourite in a race.
Long-shot (also outsider) – A runner is often referred to as being a long-shot, because of the fact it is returning high odds and is therefore deemed to have little chance of winning the race.
Monkey – £500.
Mutuel pool – Short for ‘parimutuel pool’. Sum of the bets on a race or event, such as the win pool, daily double pool, exacta pool, etc.
Nap – The selection that racing correspondents and tipsters nominate as their strongest selection of the day or meeting.
Odds – The bookmakers’ 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.
Odds-against – Where the odds are greater than evens (e.g. 5/2). When the bookmaker’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 pound a bettor places on that horse, plus his or her original outlay.
Oddsmaker – A person who sets the betting odds.
Odds-on – Odds of less than even money. This a bet where you have to outlay more than you win. For example if a horse is 1/2, you have to outlay two pounds to win one pound and your total collect if the horse wins is three pounds. That is made up of your two pounds and the one pound you win.
On The Nose – Betting a horse to win only.
Outlay – The money a bettor wagers/bets is called his/her outlay.
Out of the money – A horse that finishes worse than third.
Outsider – A horse that is not expected to win. An outsider is usually quoted at the highest odds.
Parimutuel – A form of betting originated in 1865 by Frenchman Pierre Oller in which all money bet is divided up among those who have winning tickets, after taxes, takeout and other deductions are made. Oller called his system ‘Parier Mutuel’ meaning ‘Mutual Stake’ or ‘betting among ourselves’. As this betting method was adopted in England it became known as ‘Paris Mutuals’, and soon after ‘Parimutuels’.
Patent – A multiple bet consisting of seven bets involving three selections in different events. A single on each selection, plus three doubles and one treble.
Permutations – It is possible to perm bets or selections (e.g. on four selections all the possible doubles could be permed making 6 bets).
Place – Finish in the top two, top three, top four and sometimes also top five in a competition or event. A place bet will win if the selection you bet on is among those placed. Usually, a horse runs a place if it finishes in the first three in fields of eight or more horses. If there are only six or seven runners the horse must finish first or second to place.
Placepot – A type of bet in which a placed horse of all six included races must be selected.
Pony – £25.
Punt – Another term for bet or wager.
Tic-Tac – The secret and complex sign language used by bookmakers at racecourses to indicate movements in the price of a horse.
Tote – The organisation appointed to receive bets and supply dividends in proportion to the amount of the investment. A body in the UK set up to operate pool-betting on all racecourses.
Treble – A bet consisting of three selections, all of which must win for the wager/bettor to be successful.
Tricast – A wager/bet picking the first three finishers in exact order.
Trixie – A Trixie consists of four bets involving three selections in different events. i.e. three doubles plus one treble.
Yankee – A multiple bet consisting of 11 bets (six doubles, four trebles and one four-fold) on four selections in different events.