ALL IN RUN OR NOT: applies to Ante Post betting where you lose your money whether your selection takes part or not.
ALSO RAN or OUT OF THE FRAME: a horse that runs and finishes out of the places in any given race.
ANTE POST: is a term referring to a type of bet placed in advance of an actual race date. You may benefit from obtaining a bigger price on your selection than its price on the day of the race but you will lose your stake if your selection does take part.
ATC: any to come from previous bets.
BANKER: a supposedly certain bet.
BAR: refers to prices outside of the most popular horses in the betting show. For example, in a 10 runner race the betting could be 7/2, 7/2, 9/2, 7/1 and 12/1 BAR meaning the other six horses in the race are 12/1 or bigger.
BEST ODDS GUARANTEED (BOG): is a concession some bookmakers offer, but stipulations do vary so check with your bookmaker. If you take a price on your horse and the starting price (SP) returns bigger you get paid out at the bigger price.
BETTING WITHOUT B/WO: is a derivative market often betting without the Favourite or a number of horses.
BOARD PRICE: this price is available shortly before the off time of a race. Today these prices may differ from one bookmaker to another and they replace the early prices that were offered.
CASHOUT: recent introduction from bookmakers whereby a customer can sell his bet back to the bookmaker after selections have won or lost, making a profit or loss before the bet has finished.
DEAD HEAT: where 2 or more horses are deemed the winner by the judge. Bets are settled at full odds but the stake is divided by the number of winners.
DECIMAL ODDS: decimal odds are used by some bookmakers rather than fractional odds you would expect to see at the racecourse. Decimal odds include the stake for potential returns. So, 3/1 fractional odds = 4.0 in decimal odds format.
DRIFTER: a horse that’s price in the market keeps getting bigger.
DOUBLE RESULT: this term can relate to the settlement of racing bets. Some bookmakers offer the concession of Double Result whereby they pay out on the first past the post AND the official result on weigh in if the result is different. The only time this will not apply is if a horse is disqualified and placed last.
EARLY PRICE: is a price of a horse well before the time of the race. It is now common for early prices to be made available the night before the day of the race. Nearer the advertised off time of the race these prices are replaced with board prices.
EXCHANGE: this is another form of betting where the customer bets against another customer rather than a bookmaker. So, one customer bets and the other customer lays the bets while the platform owner takes a % commission for brokering the deal which is deducted from the winner of the bet.
FAVOURITE(S): the favourite in a race is the horse with the shortest price in the betting market. If two horses have the same shortest price then they are known as joint favourites. If 3 or more horses have the same shortest price they are known as co – favourites.
FPP: this means first past the post.
FRACTIONAL ODDS: these odds are the ones you would expect to see at the racecourse and any other bookmakers who offer racing.
IN THE FRAME: a term used when a horse finishes in the places for betting purposes.
LINES: used in the US as a term for odds.
LONGSHOT: a horse that trades at big odds in the betting market.
MARKET MOVER: a horse that attracts support in the market and reduces in price.
NAP: a tipster’s best and most confident selection.
NON-RUNNER NO BET: a betting term where if the selection you bet before the day of the race does not take part you receive you stake back.
ODDS ON: odds less than Evens.
ODDS AGAINST: odds bigger than Evens.
ON THE NOSE: a win only bet.
OUTSIDER: a horse that trades at big odds in the betting market.
PALP: refers to a palpable error which usually means the publishing of an incorrect price by a bookmaker and bets are struck at that price. Bookmakers should have terms and conditions regarding such errors.
RAG: slang for outsider or longshot.
RULE 4: deals with deductions from betting returns after the withdrawal of a horse(s).
SPREAD BETTING: betting where the bettor buys or sells the performance of a horse.
SPRINGER: a horse that attracts support in the market and reduces in price.
STARTING PRICE (ISP): the price any bet placed at starting price is settled at. This is now decided by the bookmakers off course where historically it was determined by the racecourse bookmakers.
STEAMER: a horse that attracts support in the market and reduces in price significantly.
