BETTING
MANAGEMENT GLOSSARY
ACROSS THE
BOARD
A bet to win, place, and show, usually of the same amount
BASE BET
PLUS SQ. ROOT OF PROFITS
A betting method where the first bet is $2 and subsequent bets are set
equal to $2 plus the square root of any profits; appropriate to small
bettors and has the advantage that as profits grow the bet-size becomes
a smaller percentage of those profits
BASEBALLS
A three-horse exacta box
BET-SIZE
The amount of the bet
CHALK PLAYER
A frequent bettor of favorites
CHASE
To bet more when losing
COMBINATION
BET
Any wager where two or more horses are coupled as a single betting interest
CRUSH
To maximize profits from a situation the player comprehends as offering
outstanding value and a high probability of winning simultaneously
DAILY DOUBLE
A serial bet where the player must pick the winner In two consecutive
races, usually the first and second
DUE COLUMN
BETTING
A method of betting where a financial goal is set for the day and bet-sizes
are progressed until the profit goal Is reached
EXACTA
A combination bet whereby the player must pick the first and second
finishers in the exact order
EXACTA BOX
A combination bet whereby the player couples two or more horses in every
possible combination
EXOTIC WAGERING
Combination and serial bets involving more than one horse as a single
betting interest; characterized as low-probability bets having relatively
high payoffs
EXPECTATION
The degree of profit or loss the player can expect during the season;
calculated as the player's win percentage multiplied by the average
odds on the player's winners, and that amount minus the player's loss
percentage
FAIR-VALUE
BETS
Bets where the payoffs will be approximately equal to the risk
FALSE FAVORITE
The horse is not the horse most likely to win, regardless of the odds;
an underlay
FAVORITE
Has the most money bet to win in the field
FIXED-PERCENTAGE
BETS
Bets of the same percentage amount each time, such as five percent of
the bankroll
FIXED-PERCENTAGE
MINIMUM
A method of betting where a percentage amount is bet following a win
and a minimum amount Is bet following a loss
FLAT BETS.
Bets of the same amount each time
HIGH ROLLER
A big bettor
IN THE MONEY
A finish first, second, or third, requiring pari-mutuel payoffs
KELLY WAGERING
A method where the percentage bet is set equal to the player's advantage
in the game or situation; in a positive situation has the advantage
that it optimizes the growth of the bankroll
KEY HORSE.
In a combination bet, one horse is coupled with each of the others combined
in the wager
NEGATIVE
EXPECTATION
A bet or series of bets known to result in a loss
ODDS-ON FAVORITE
Less than even-money to win; a heavy favorite
OVERLAY
An under bet horse The horse has a better chance to win than the betting
suggests
PICK 3
A serial bet where the player must pick the winners of three consecutive
races
PICK 6
A serial bet where the player must pick the winner of six consecutive
races; characterized by low probabilities of winning and relatively
large and exotic payoffs
PLACE AND
SHOW OVERLAYS
Horses, usually favorites and low-priced contenders, that are over bet
to win and under bet to finish second and third
POSITIVE
EXPECTATION
A bet or series of bets known to result in a profit
QUINELLA
A combination bet whereby the player must pick the first and second
finishers in either order; cost is half as great as an exacta box and
should pay halt as much
ROLLOVER
PICK 3
A series of three-race Pick 3s from the first race to the last race
SCORE
To make substantial profits from a single bet
SERIAL BET
Any wager where the horses in two or more races are coupled as a single
betting interest
STRAIGHT
BETTING
Betting to win
THE EDGE
The player's advantage in the game; the player's advantage In a particular
race or situation
THE OPTIMUM
BET SIZE
The player's edge divided by the odds on the horse to win
THE OPTIMUM
BET SIZE
The odds to win on the horse divided by the player's edge on the game
TRIFECTA
A combination bet whereby the player must pick the first, second, and
third finishers in the exact order
TRIFECTA
BOX
A combination bet whereby the players couples three or more horses in
every possible combination
UNDERLAY
An over bet horse; the horse does not have as good a chance to win as
the betting suggests
VALUE
The worth of the bet, such that the benefit should exceed the risk
WHEEL HORSE.
In a combination or serial bet, one horse is coupled with all the other
horses in the field
