Glossary of Bookmaker Betting Terms

Ante-post
Ante-post bets are bets which are placed prior to the day of the event

B.A.G.S.
Bookmakers Afternoon Greyhound Service

B.E.G.S.
Bookmakers Evening Greyhound Service

Board/show price
The price relayed from the racecourse, which you may take on your selection. These prices fluctuate until the race starts, if accepted, bets are settled at this price

Co-favourite
Three or more participants who are favourites with the same odds.

Computer straight forecast
A dividend which is generated by computer after the race, based on starting prices for the 1st & 2nd horse/dog selected in the correct order

Computer straight tricast
A dividend which is generated by computer after the race, based on starting prices for the 1st, 2nd & 3rd horse/dog selected in the correct order

Dead heat
When two or more participants in the same event both finish in an equal place.

Each-way
An each-way bet is two bets, one for your selection to 'win' and another for it to be 'placed'. Both parts are staked to a common unit e.g. a £1 each-way bet covers both options at a £1 stake. (Total stake is £2)

Early prices
Prices offered on selected races that day in advance of racecourse betting (these prices are subject to any rule 4 which may apply).

Favourite
The participant in an event that has the shortest price.

Full cover
The full amount of doubles, trebles and upwards involved in a given number of selections.

Handicap
The system used to even a contest for betting purposes by giving an advantage to the weaker participant(s)

Joint favourite
Two or more participants who are favourites with the same odds.

Multiple
A bet involving more than two selections which are combined in doubles, trebles, etc

Non-runner
A participant which for some reason will not take part in the event

Odds
Odds reflect the probability of the outcome of a specified event. They refer to the dividend or return you would get from a unit stake placed at those odds, multiply the odds figure by your stake to calculate potential winnings

Odds on
Odds where potential winnings are less than the amount staked, i.e. 1-2, you stake £2 to win £1, total return £3

Odds against
Odds greater than evens where potential winnings are more than the amount staked - i.e. £1 at 2-1. You stake £1 to win £2, total return £3

Outright
Outright prices are those offered to win or come first in a given event

Place
Where each-way betting is available a number of valid places is declared. The place part of an each- way bet wins if your selection finishes in one of these declared places. The place odds are calculated at a fraction of the win odds - e.g. Grand National, each way terms 1,2,3,4 @ ¼ odds

Related contingency
When the result of one event has a direct influence on the outcome of another, there is a related contingency. Selections from related events cannot be combined in a multiple e.g. Man Utd to beat Arsenal in a league match, and Man Utd to win the league.

Register
The page to which you should go if you wish to open an account

Return
The amount paid out by the bookmaker on a successful bet includes winnings and the stake returned

Rule 4
When a participant withdraws from an event where prices are available, bets placed prior to the withdrawal still stand, but winnings are subjected to deductions based on the price of the withdrawn participant. Stakes placed on the withdrawn participant are returned

Settlement
Calculation of returns due on a bet once results are known

Stake
The amount wagered

Starting prices (sp)
The odds for a horse or greyhound declared at the start of the race. These will be the odds at which your bet is settled unless a show, early or ante-post price was taken on your bet

Stewards enquiry
Racecourse stewards will investigate an objection or suspected infringement of the Rules of Racing. This may amend the result, so bets are not settled until the outcome of the enquiry is known.

Un-named favourite
If you select 'favourite', your bet is taken on the participant starting with the shortest price.

Vacant
A trap or stall which has no participant in it

Void
A bet which is declared invalid, is a void bet, e.g a horse declared as a non-runner.

Winnings
The profit made if your bet is successful