Definitions of the words and phrases used in British betting shops, on racecards and in racing and sports coverage. Terms are grouped alphabetically. Where a term has its own guide on BookieFinder, the entry links to it.
A
Accumulator (acca): One bet on four or more selections where the winnings from each roll onto the next. Every selection must win for the bet to pay. A three-selection version is a treble; two is a double.
Ante-post: A bet placed on a race or event well before the day, sometimes months ahead. Prices are usually bigger, but if your selection does not run you normally lose your stake, unlike a bet placed on the day.
Arbitrage (arb): Backing every outcome of an event at different bookmakers so that a profit is locked in whatever the result. Rare in shops; bookmakers may restrict customers who do it.
B
Bankroll: The amount of money a person has set aside for betting. Deciding this in advance is a basic part of betting responsibly.
Banker: A selection the punter is confident about, often the one included in every line of a multiple bet.
Best Odds Guaranteed (BOG): A shop promise that if you take a price on a horse and the starting price is bigger, you are paid at the SP. Usually applies to UK and Irish racing only and to bets placed on the day.
Betting slip: The paper form on which you write your bet in a shop. The till prints a receipt you keep to collect winnings.
Board price: The odds displayed on the shop’s screens for a race, as opposed to the starting price. Also called an early price or show price.
Bookmaker (bookie): A company or person licensed to accept bets and pay out winners. In shops, the licence holder is the operating company, not the counter staff.
C
Cash out: An offer to settle a bet early for a sum that reflects its current chance of winning. Common online, rarely available on shop bets.
Chase: Steeplechase, a jumps race over fences at least four and a half feet high. Contrast with hurdles.
Co-favourite: When two or more runners share the shortest price in a race.
D
Dead heat: Two or more runners finishing exactly level. Stakes are divided by the number of runners in the dead heat and paid at full odds on the divided stake.
Decimal odds: Odds shown as a single number representing total return per unit staked, including stake. 3.50 means £3.50 back for £1. See the odds guide.
Double: A bet on two selections; both must win. Winnings from the first are staked on the second.
Drift: When a price gets bigger before the off, for example from 4/1 to 6/1, because little money is being placed on it.
E
Each-way (E/W): Two bets of equal stake, one to win and one to place. Explained in full in the each-way guide.
Evens (Evs): Odds of 1/1, where profit equals the stake. Decimal 2.00.
F
Favourite (fav, jolly): The runner with the shortest odds in a race.
Fixed odds: A bet where the price is agreed when you place it and does not change afterwards, as opposed to SP or pool betting.
Forecast: A bet naming the first and second in a race in the correct order. A reverse forecast covers both orders for double the stake.
Fractional odds: Odds shown as a fraction such as 5/1 or 11/8, the standard format in UK shops.
FOBT (fixed odds betting terminal): The gaming machine found in betting shops, offering roulette and slot-style games. Maximum stake £2 per play since April 2019, up to four machines per shop.
G
Going: The state of the ground on a racecourse, from heavy through soft, good and firm. Affects which horses run well.
Goliath: A multiple bet on eight selections covering 247 lines: 28 doubles, 56 trebles, 70 four-folds, 56 five-folds, 28 six-folds, 8 seven-folds and one eight-fold.
H
Handicap: A race in which horses carry different weights, set by the official handicapper, so that in theory they have an equal chance. In sports, a handicap is a points or goals start given to the weaker side.
Heinz: A multiple bet on six selections covering 57 lines: 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and one six-fold.
Hurdle: A jumps race over smaller, flexible obstacles. Contrast with chase.
J
Joint favourite: Two runners sharing the shortest price. With three or more, co-favourite.
L
Lay: To accept a bet, as a bookmaker does. On a betting exchange, punters can lay as well as back.
Lengths: The unit of distance between finishing horses; one length is roughly the length of a horse.
Lucky 15: A multiple bet on four selections covering 15 lines: 4 singles, 6 doubles, 4 trebles and one four-fold. Shops often add a bonus if only one selection wins or all four win. Lucky 31 (five selections) and Lucky 63 (six) follow the same pattern.
M
Multiple (multi): Any bet with more than one selection, including doubles, trebles, accumulators and combination bets such as the Yankee.
N
Nap: A tipster’s most confident selection of the day.
Non-runner (NR): A horse withdrawn before the race. Bets on it are usually refunded, and a Rule 4 deduction may apply to the rest of the field.
O
Odds against: A price where the profit exceeds the stake, such as 2/1.
Odds on: A price where the profit is less than the stake, such as 1/2. Sometimes written as “odds-on favourite”.
Off: The start of a race. Bets taken “at the off” are at starting price.
Outsider: A runner at long odds, considered unlikely to win.
Overround: The bookmaker’s built-in margin, found by adding up the implied probabilities of all outcomes; the amount over 100% is the margin.
P
Patent: A multiple bet on three selections covering 7 lines: 3 singles, 3 doubles and one treble.
Photo finish: A finish too close to call by eye, decided from a photograph taken on the line.
Place: Finishing in one of the positions the bookmaker pays on an each-way bet, usually second or third and sometimes fourth or beyond.
Punter: A person who places bets.
R
Rule 4: A deduction from winnings when a horse is withdrawn after the market has formed, to reflect the improved chance of the remaining runners. The deduction ranges from 5p to 90p in the pound according to the withdrawn horse’s odds. Our bet calculator applies Rule 4 deductions.
Return: The total paid out on a winning bet, including the stake.
S
Self-exclusion: A formal arrangement in which a person asks to be barred from betting for a fixed period. For high-street shops this is run by GamStop Betting Shops; see our responsible gambling page.
Single: A bet on one selection.
Stake: The amount of money placed on a bet.
Starting price (SP): The official odds of a horse at the off, determined from the on-course and off-course markets. Bets marked SP are settled at this price.
Steamer: A runner whose price shortens sharply before the off because of heavy support.
T
Take the price: To accept the board odds at the time of placing the bet, fixing them on your receipt.
Tote: Pool betting, where all stakes go into a pool that is shared among winners after a deduction. Prices are not known until the pool closes. Available at racecourses and in some shops.
Treble: A bet on three selections; all must win.
Tricast: A bet naming first, second and third in the correct order. A combination tricast covers every order.
U
Under starter’s orders: The moment a race is officially about to start. From this point the race counts and bets stand.
Unit stake: The stake per line in a multiple bet. A £1 Yankee has a unit stake of £1 and a total stake of £11.
V
Void: A bet cancelled and the stake returned, for example when a match is abandoned or a horse is a non-runner.
W
Walkover: A race in which only one horse runs. Bets on it are usually void.
Win only: A bet that pays only if the selection wins; no place element.
Y
Yankee: A multiple bet on four selections covering 11 lines: 6 doubles, 4 trebles and one four-fold. Unlike a Lucky 15, it has no singles, so at least two selections must win for a return.
Missing a term?
If you have heard a word in a shop or on a racecard that is not listed here, tell us through the contact page and we will add it.