The following is a list of commonly used Horse Racing Betting Terms. As we mentioned before knowledge is key to becoming a successful punter so make sure you know all the betting lingo.
All In: Betting on a horse race where no refunds are given for scratchings. This is associated with early betting markets.
All Up: A bet type where all your winnings from one horse bet placed go all up onto your next selection.
Anchor: A standout selection in exotic bet types.
Back: To bet, punt or wager.
Banker: A standout selection in exotic bet types like quinellas and trifectas.
Bankroll: Amount of money you have to bet with.
Box Trifecta: To win a ‘box trifecta’ you simply need to specify the three horses that will finish in the first
three placings, irrespective of the order.
Correct Weight: When race stewards declare that the placings are now official and dividends can be paid.
Daily Double: Type of bet in which you must select the winners of two specific races.
Deductions: When betting on a race has already begun and there is a late scratching at the barriers then a reduction in betting odds occurs.
Dividend: The winning payout which is displayed in $ terms both before the race as approximate dividends and after as both interim and final dividends.
Duet: An Exotic bet type where you need to select two of the three placegetters in a race.
Each way: An each way bet is when you bet the same amount on the horse for a win and for a place.
Even Money: Odds of 1 to 1. You bet $100 on an Even money chance then you get $200 back if it wins, Your $100 stake plus the $100 win from the bookie.
Exacta: Type of bet in which you select the first two horses in a race in the exact order.
Exotics: All bets other than the traditional straight out win bet and eachway bet.
Fixed Odds: A wager you can place and the odds wont change whether the horse shortens or drifts in betting.
Furlong: 1/8th of a mile or approximately 200 meters.
Get Out Stakes: The last even at a race meeting.
Hold All Tickets: An announcement by race stewards for punters to hold onto their tickets as they investigate an aspect of the race. This usually results in a refund for a late scratching or that a protest is pending. Always wait for the all clear from race stewards before throwing away your “losing” tickets.
In The Money: Finishing first, second or third in the race.
Lay: When a bookmaker thinks a horse can’t win and makes his price higher to let punters on at the better odds.
Length: A length is approximately three metres.
Maiden: A horse that is yet to win a race.
Moral: A horse that can’t be beaten.
Odds Against: When you bet $1 and get more than $1 back in return.
Odds On: When you bet $1 and get less than $1 back in return.
On The Nose: Betting a horse to win only.
Parlay: Another term used to describe an all up bet.
Place: A horse scores a place when it finishes in the first three across the line. If there are only seven or less runners the horse must finish either first or second to place.
Plunger: A horse that has been heavily backed to win the race and his price has shortened dramatically.
Plonk: Punters have invested heavily on a runner.
Pre Post: The odds before a race has started.
Price: The odds.
Punt: The bet on a horse race.
Quadrella / Quaddie: You have to correctly select the winner of four specific races.
Quinella: Type of bet in which you have to correctly select the first two horses in a race in any order.
Running Double: You have to correctly select the winner in two consecutive races.
Salute The Judge: A horse wins a race.
Sling: Usually associated as money given as gratuity by the owner to the jockey for winning the race.
Smart Money: Money that is wagered by the horses owners, stable connections or even professional punters.
SP: An “off course” bookmaker.
Special: Best bet.
Stake: The amount of money you wager.
Straight Six: You have to correctly pick the winner of six consecutive races.
Scratch/Scratched: To be withdrawn from a race before it begins.
Straight Out: Betting on your horse to win only, it must win for you to receive a dividend
Treble: An exotic bet where you have to select the winner of three predetermined races.
Trifecta: You have to correctly select the first three horses in a race in the exact order.
Unders: When a horse is paying less than what you think it should be paying.
Yours For Theirs: An even money bet.