Ante-post betting
Ante-post prices are the prices offered on all major events before the
day of the event (Next years Rugby world cup). Bets are normally taken on
the understanding that if the selection does not take part in the event the
wager is lost.
Dead-heat
Two or more players/ teams have tied for the win or place.
When a dead-heat is declared the odds you were given will have to be
recalculated. The odds are calculated as follows:
- 5/1 Tiger Woods place bet – 5 places are paid and Tiger finished
5th tied with Zach Johnson and R100 was staked on Tiger for a
place. - Tiger and Zach will be a dead-heat and the odds taken on Tiger will
be halved and half of the money staked will be lost. - 5/1 becomes 5/2
- The R100 on this bet will be halved to R50 so the bet becomes R50
at 5/2 - The adjusted bet will be 125/50
Evens
A price in which the winnings are equal to the original stake money (1/1
or 1).
Favourite
A team/player/horse considered most likely to win, with the shortest
associated price, eg. 7/10
Outsider
A team/player/horse considered unlikely to win. Usually a large price,
eg. 50/1
Leg
1 selection in a multiple bet. For example, a five-fold will have 5
legs.
Limits
The win limit is the maximum amount a punter may win on a particular
event.
Odds on
A betting price where the odds are lesser than evens i.e. the winnings
are smaller than the stake, eg. 0.7
NBA
National Basketball Association.
NFL
National Football League.
NHL
National Hockey League
Overtime
Extension to a tied contest at the end of regulation play that lasts
until a winner is determined or maximum overtime periods expire.
Price
An alternative name for odds.
Fractional/decimal prices
Different ways of expressing prices eg. 7/10 is a fractional price, 0.7
is the equivalent in decimal price format
Selection
The player/team, football team etc. that the customer has predicted to
be the winner of a particular event.
Stake
The amount of money a customer wishes to wagers/bets on a particular
selection.
Stop Loss
The maximum that can be won or lost on a spread bet.
For example: In a total goals market for a soccer match the stop loss will
be 5. Let’s say the opening quote is 2.5 – 2.7 and you go high at 2.7. If
the final score is 4-4 and so there have been 8 goals your profit should be
8 – 2.7 = 5.3 but because the stop loss is 5 the maximum paid will be
5.
Scratching and deductions rule
This rule may be applied when an entry has been withdrawn (not under
orders) and there is too little time for the betting market to be reformed.
Deductions are made from winnings based on the price of the withdrawn entry
when it was withdrawn. Often applicable in horse-racing, eg. If a 2/1
favourite in a horse-race is withdrawn/scratched a 30% deduction will be
placed on bets on other runners taken prior to the scratching. Bets taken
after the markets have been readjusted are not subject to deduction.
Winnings
The extra amount the customer collects not including his original
stake.
