Nap – A selection that racing correspondents and tipsters use as their best selection for the day or the event.
Nickel – A bet for $500 USD.
Odds – The bookmaker’s opinion of the chance a competitor has of winning.
Odds-against – When the odds are greater than the ‘Evens’ like “5 to 2”.
Odds – On – When the odds are less than ‘Evens’ like “4 to 7”. Then if a selection wins, the amount won is less than the amount bet.
Off-Track – Betting that is conducted away from the track.
On the Nose – A bet that the horse will win.
Online Sports Betting – Placing a bet or wager on the internet.
Online Sportsbook – A company or person who accepts bets on the internt from the public, normally on sports events.
OTB – An Acronym for “Off-Track Betting” in the US.
Overbroke – when the book results in a loss for the bookmaker.
Overlay – When a horse whose odds are high in comparison with its winning changes.
Par – Mutuel is a means of gambling on races or events where all bets are pooled and winners are paid according to the size of the pool and the number of other winners.
Parlay – A U.S. term for an accumulator bet in horse racing and a bet on 2 or more teams in which both must win or “cover’ for the bet to make money.
Patent – A multiple bet that consists of 7 bets with 3 selections in different events. Thus a single bet on each selection, and 3 doubles and 1 triple.
Pay-Per-Head – Also known as ‘Price-Per-Head’ or PPH is a company that provides his clients the services of a post-up offshore online sportsbook completely anonymously by using an internet-based automated sports betting software system. The name comes from the client paying a certain amount for each one of his customers per month.
Pic Six – In the U.S. it is a proposition that challenges a bettor to pick six winners of six consecutive races.
Picks – The selections of an expert or sports handicapper to bet on and also known as ‘Tips.’
Pitch – The location where a bookmaker conducts his business at a track.
Place Terms – As in non pari-mutuel are the returns for place bets and are calculated as a portion of the win odds, which can vary between sports and different events.
Pointspread – The line that the favorite gives the underdog, and is also known as the ‘handicap’ or ‘line.’
Pool – The total amount be to win, place or show, or for a ’Daily Double.’
Punter – A European term for someone who is making bets.
Quinella – A U.S. bet where the bettor predicts the horses that will finish 1st and 2nd horses in a race no matter what the order.
Right Price in the U.S. among players is the pari-mutuel odds which are high enough to value risking a bet on a particular animal.
Ringer is a horse or greyhound listed in a race under another’s name. Roundabout is a bet consisting of 3 bets with 3 selections in different events.
Rounder is a bet made up of 3 bets that involve 3 selections.
Round Robin is a bet consisting of 10 bets (3 pairs of “Single Stakes About” bets plus 3 doubles and 1 treble) involving three selections in different events.
Runner is a bookie’s employee who gathers information on the progress of betting elsewhere on the course.
Score – In the U.S. is to win a race or a bet, also a victory.
Scratch – In the U.S. is the withdrawal of a competitor.
Scratch Sheet – In the U.S. is the daily publication that provides graded handicaps, tips as well as scratches.
Settler – A bookmaker’s expert who calculates the payouts.
Shoo In – Supposedly a cinch bet or guaranteed winner.
Short Price – A small pari-mutuel payoff. Show is the term used to describe a 3rd place finish.
Shut Out – What happens to a U.S. bettor who gets on the betting line to late, and is still in line when the window closes. Also in sports betting when the losing team does not score.
Single – A ‘straight’ bet on a selection to win a race or an event.
Six- Dollar Combine – An across the board bet in racing.
Smart Money – The Insider’s bets or the insiders themselves.
Sports Handicapper – A person who assigns or assesses a competitor’s handicap, that specializes in most sports.
Sportsbook – A company that takes wagers on sports events from the public.
Sports betting platform – A software that allows users to place bets on the internet or on their mobile phone.
Sports Betting Software – They are several everal types of sports betting software definitions. The first is the Sports Betting Software that is used by online bookies to take bets from sports bettors. The other type of sports betting software are the ones that either track your bets or help you get a higher win ratio.
Spot Play – A type of play where a bettor risks money only on races and/or horses that seems worth the risk.
Spread Betting – Where a bet is won or lost according to whether one correctly predicts the result of an event, also known as ‘action line’ or ‘money line.’ Thus, the returns are calculated in proportion as to how right or wrong the bettor was, and can bring huge losses or returns.
Straight – Another U.S. term for a bet to win, ‘straight, place or show.’ Sure Thing is any bet that has very little chance of not winning.
System – A method of betting, usually very mathematically based and used by a bettor to get an advantage.
Take – The amount of money deducted from all pari-mutuel pools for the track revenue and taxes.
Take Out – The part of the pari-mutuel pools that is not returned as winnings.
Teaser – A pointspread based bet wherein the bettor can move the line in his favor up or down in return for odds base on the point move.
Thick’un – A big bet.
Tips – The selections chosen by an expert to bet on, and also known as picks.
Tipster – A person who sells or gives the bettors his estimate of likely winners in an event or race, and also known as a ‘Tout.’
Totalisator – A U.S. automated pari-mutuel machine that records bets as soon as tickets are dispensed at a betting window.
Totals – A sports bet on whether the total score of a game or event will be over/under a given point.
Tote – A body in set up in Europe to operate pool-betting at all racecourses.
Tote Board – An information board at a racecourse that displays estimated odds, betting totals, payout process and other information important for bettors.
Tout – One who sells or gives betting advice and also known as a ‘tipster.’
Tricast – A bet that involves predicting correctly the 1st, 2nd and 3rd place finish in an event.
Trifecta – A U.S. bet where the bettor picks the first three finishers in an event in exact order.
Underdog – The team that receives a point advantage in a handicap.
Union Jack – A European bet that consists of 8 triples on 9 selections A to I; ABC, DEF, GHI, ADG, BEH, CFI, AEI and CEG.
Value – Getting the best odds on a bet.
Vigorish – A U.S. term for the bookmaker’s commission, also known as ‘vig’ or ‘juice.’
Welsh or Welch – To fail to pay a gambling bet or debt.
Wheel – A form of betting where daily doubles perfectas or quinella players make every possible combination in his bet on his favorite horse or horses.
Wheeling – A racing system devised for the daily double bet, where the bettor backs one horse in the 1st race and every horse in the 2nd race.
Win – The term used to describe a 1st place finish.
Winning Margin – A bet to predict the winning margin of one team over another.
Wise Guy – In the U.S. is a knowledgeable or well informed bettor or handicapper.
With the Field – Having one horse linked with all the other horses in an event.
“X” – To mean ‘a draw’ on a soccer betting event.
Yankee – A multiple bet consisting of 11 bets (6 doubles, 4 trebles and 1 4-fold) on 4 selections in different events.
Yap – A “Yankee Patent” – The same 11 bets as a “Yankee”, but with singles on each of the 4 selections as well, making 15 bets in all (also known as a “Lucky 15”).
Zero – The value of most betting systems, tips and advice.