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Up until approximate 24 hours before an important horse race the bookmaker will have their ante-post prices available. These prices have been set and manually kept up-to-date by the bookmaking trading team. The day of the event the bookmakers will switch the pricing over to feeds coming from one of the 2 major players, SIS and the PA.
Arbitrage When a difference in the odds available from all bookmakers allows a punter to back both sides and guarantee a win. Banker A selection highly expected to win by the punter. Beard Someone who places a bet on behalf of someone else. Best Price Guaranteed This is a recent development in racing circles.
The betting term refers to a special offer that is of great benefit to the punters. The offer encourages a punter to take an early or board price and if the horse or greyhound that you selected is returned at a better SP starting price then you will receive the better price. Either way the punter can only benefit. The area at the race track given over to bookmakers to display their odds. Book The bookmaker keeps a list of all competitors in the field and their price.
The is collectively known as a book. Buy A reference to spread betting whereby you gamble that an index based on the possible outcomes of an event will finish below the lower limit of the spread. Circled Game Where a bookmaker restricts the betting allowed on the event by amount and sometimes by player. Dead Cert A participant or team is considered to be guaranteed of victory.
Also referred to as a Lock. Dead Heat Where 2 or more participants finish level. Draw The starting positions of a horse in the race. So with each way you put less money on the win, unless you double your stake. On the nose all your stake goes on the win. Picks What are picks in betting? Tips given by experts tipsters on selections they believe have a good chance of winning or getting results. Places What does places mean? A small number of runners might mean only the first two finishers place, whereas in a big field down to fifth or sixth might be considered a place finish.
Pony What is a pony? Another colloquialism for a sum of money. Price What does betting price mean? The odds a bookmaker offers bettors on a selection. Punter A customer or bettor. The person placing the bet with the bookmaker. Return What does retuen mean in betting? Selection What is a betting selection? The athlete, player, team, individual, greyhound, horse, etc, that the punter has their bet on. Stake What is a betting stake? The amount being put down or placed by the bettor on the bet.
Stake units refer to the value of each part of the stake in a multiple bet. Starting Price SP What is the starting price? The final odds on a selection at the point the race starts. Tips What are betting tips? Also referred to as picks, these are predictions shared with the public, or indeed paying punters in some instances, by betting experts. These experts are also called tipsters. Tote bets What are Tote bets? Estimated returns or dividends for successful bets are available beforehand, but the actual amounts to be paid out are only finalised after the race when all the money has been put in.
Winnings The amount earned from a successful bet profit on top of the returned stake. X What does X mean? Stands for a draw in a 1x2 bet such as those on full time results football matches. Bet Types There are many different types of horse racing bets that you can choose from. The number of options make wagering on the horses more enjoyable to horse racing fans, although the range in bet types and even just the name of some bets can seem confusing to a beginner.
However, the objective of each bet type remains the same, money is placed on a horse or horses to finish in a specified position and if the outcome is what you predicted then you win. The amount of winnings depends how much was staked and the odds the bet was taken at. Punters that are new to horse racing will usually stick to the most basic bet types.
These bets usually involve making just one selection. What is a single bet? In this situation you can back the horse to place. What is a place bet? By making a place bet there is a greater chance that you will be successful however the odds for a horse to place are lower and therefore the pay out will be less than if you had backed the horse to win.
Punters could also choose a bet type which gives them the opportunity of a large pay out from a win bet and the security of a place bet. What is each way bet? As you become better at picking winning horses then you may want to try a more complex bet. What is a Straight Forecast? What is a Reversed Forecast? To increase your chances of success even more you can choose more than one selection for first and second place. What is a Combination Forecast? Here you may have 3 or more selections and will need two of them to fill the first two places, in any given order.
Forecast bets are more challenging but the potential returns are also greater. For the chance to see even more value from your bet you can also select which horses will finish in the first three places in the race. What is a Tricast? What is a Combination Tricast? As well as betting on more than one runner in a race you can also select horses from different events. For example you could back one horse in a race at Doncaster and one in at a race at Ascot.
What is a Multiple bet? What is a Double bet? What is a Treble bet? What is an Accumulator? The stake and return from the first selection rolls on to the next, until the final bet is settled.
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