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Glossary of Betting Terms

Glossary of Betting Terms

A

Across the Board

A bet on a horse to win, place and show.

C

Chart

A comprehensive account from which past performances are compiled, showing the race position of each horse at various stages of the race.

D

Daily Double

A type of wager that the winners of two consecutive races (usually the first two races) are bet.

E

Exactor

A bet where the 2 horses wagered must finish 1st and 2nd in exact order in the same race.

Exactor Box

A bet where the 2 horses wagered must finish either 1st or 2nd in the same race.

EXOTIC BET

A wager on a race that is something other than win, place or show.
 

F

FAVOURITE

The horse with the largest amount of total money bet.
 

H

Handicapper

A person who attempts to determine the probable winner and finish order of horses in a race.

HANDICAPPING

The art and science of trying to determine the probable winner and finish order of horses in a race.

HANDLE

The amount of total money wagered on a race, a program (race card) or in a year.

L

LATE DOUBLE

A second daily double wager offered in the later part of a race program.

M

MORNING LINE

The professional handicapper’s estimate of what the odds on each horse will be. This prediction is published prior to the beginning of the race program.
 

O

ODDS-ON

Odds of even money or less (e.g. 1-1, 4-5, 1-5).

On The Board

Finishing among the first four.

ON THE NOSE

Betting a horse to win only.

P

PARIMUTUEL

A form of wagering with French origins in which all the money wagered (less taxes and other deductions) is divided up among the people who have winning bets.

Past Performances

A detailed record of a horse’s racing history.

PERFECTA

A bet where the first 2 finishers in exact order must be chosen (see “Exactor/Exacta”)

PLACE (BET)

A bet on a horse to finish first or second.

POOL

Total amount of money wagered on a race.
 

POST TIME

The starting time of a race

PURSE

The total amount of money that can be won in a race by the participants.

Q

QUICK PICK

A bet where the wager will be randomly chosen for you.

S

SCRATCH

The removal of a horse from a race prior to the start of the race.

SHOW (BET)

A bet where the horse chosen must finish first, second or third.

SUPERFECTA

A bet that chooses the 4 horses placing 1st, 2nd, 3rd and 4th in exact order.

SUPERFECTA BOX

A bet where the 4 horses chosen must finish 1st, 2nd, 3rd or 4th in any order.

T

TAKEOUT

This is money taken out of the betting pool that covers the cost of the races including taxes, betting duties, operating expenses, purses for races, and profits for the operator. In some jurisdictions, the government may also receive a share of the takeout.

TOTE BOARD

The electronic sign on the infield that displays odds, betting pools, and racing information.

TRIACTOR

A bet that chooses the 3 horses – 1st, 2nd and 3rd in exact order.

TRIACTOR BOX

A bet where the 3 horses chosen must finish 1st, 2nd, or 3rd – in any order in the same race.

W

WIN (BET)

A bet where the horse must finish in 1st place.