A

Accumulator (Acca)  – a bet with 4 or more legs where all selections must win to return the accumulated odds. Also known as acca’s, accumulators are a popular bet as they can produce a big win to a small stake. See Golf Betting Form's Acca Calculator designed for ties

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Acca Insurance – a promotion where the stake is refunded (normally as a free bet) if one selection doesn’t win in an Accumulator. Maximum stake and minimum odds (for legs and overall odds) usually apply.

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All-weather Racing – UK horse racing for flat races contested on an artificial surface.  The All-weather surface is normally made of a mixture of sand and synthetic fibres giving good drainage and tolerant to low temperatures.

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American Odds – the odds format commonly used by North American bookmakers.  Prices are pre-fixed by [+] or [-], the [+] signifies the amount you would profit for a $100 stake, the [-] the amount you would need to return $100 profit. For example, odds of +300 would return $400 ($300 plus your $100 stake) or the equivalent of 3/1 (fractional odds) or 4.0 (decimal odds)  For odds of -200, you would need to stake $200 for a $100 win or the equivalent of 1/2 (fractional) or 1.50 (decimal)

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Ante-post – a betting market where the field hasn’t been confirmed but likely competitors can be backed. Popular ante-post markets include the Cheltenham Gold Cup and the Epsom Derby where prices are available up to a year beforehand.

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Arbitrage (Arb) – a betting strategy which ensures a profit, whatever the result, by backing all sides of a bet at favourable odds. To profit, the backed odds must be under-round (below 100%) – for example two 5/4 shots in a match-up.

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Asian Handicap – a football market that gives one team a goal(s) lead. Asian handicaps both balance out the odds and eliminates the draw. Asian Handicap goal leads are usually given to the underdog in halves (ie 1 1/2) to eliminate the draw.

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B

Back Bet – a term used in Exchange betting to back a selection to win. Exchanges will display the back odds along with the amount available to back, any amount greater than available to back will go unmatched and available to lay.

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Banker – a selection, normally a very short price, which is perceived as a certainty - often included in accumulators. Popular in football where teams, especially dominant European teams such as Man City, Bayern Munich, PSG & Barcelona are included in accumulators.

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Bar – shorthand to exclude the outsiders when quoting odds in a market. Often used in an event with a number of participants such as horse races. For example in a horse race; Evs Enable,7/2 Crystal Ocean, 7/1 Anthony Van Dyck, 10/1 bar.

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Best Price – the biggest odds offered from a range of bookmakers. Seen as essential for punters to have the best chance of making a profit.

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Best Price percentage – the over-rounds when applied to the Best Price from a range of bookmakers – often used by an Odds Comparison site. Arguably the best way of deriving true odds (or probabilities) as in most competitive markets the best price percentage gets close to 100%.

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Betslip – traditionally the paper slip that a bet would be written on, more commonly now a separate window/bet basket on a bookmaker website. The move from paper to electronic betslips can have advantages (can’t lose slip, less ambiguity) and disadvantages (easier to put the wrong bet on)

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Best Odds Guaranteed (BOG) – a horse racing promotion which guarantees that if a selection's SP (starting price) is bigger than the price taken when the bet is placed, the greater odds are paid. An essential promotion as it insures against a shorter price whilst benefiting if the odds lengthen. Usually applies to day of the race markets and sometimes on Ante-post markets for big races.

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Betting Without (W/O) – a market which excludes one or more selections from a market – normally a prohibitively short price. Often used during periods of dominant teams and players to make the betting market more competitive – ‘without Tiger Woods’ market was popular during his period of dominance.

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Black Type – used in horse breeding and sales to signify a horse’s past results in top level races. Classics, Group & Listed race results carry Black Type form.

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Board Prices – odds available at a racecourse by on-course bookmakers.

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Book – a bookmaker’s tally of bets on an event which allows them to ‘make a book’ and manage liabilities and odds. Once a physical ledger of bets now in electronic form which allows a bookmaker to get a far better idea of liabilities.

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Both Teams to Score (BTTS) – a popular football market on whether both teams will score in a match.

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Breeders’ Cup – The United States leading flat-horse meeting staged annually – run on both Turf and Dirt (All-weather) surfaces. Races include the Breeders’ Cup Classic.

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Bumper Race – a National Hunt race which is run as a flat race. Normally over 2 miles, bumpers acclimatise young horses to race conditions before they progress onto hurdle or steeplechases.

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Buy Price – a term used in Spread Betting for the price to buy in the spreads. Where a spread price is quoted, for example 10-12, the buy is predicting above the spread of 12.

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C

Canadian – a permutation bet covering five selections often used on horse racing bets. Also known as a Super Yankee, a Canadian consists of 5 selections of 26 bets: 10 doubles, 10 trebles, 5 four-fold  and a five-fold acca.

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Cash-out – an option which allows a punter to close out a bet to take a profit (or loss) on a bet they’ve made which hasn’t finished. Online bookmaking has made cashing out easier but is effectively the same as Hedging a bet.

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Cheltenham Festival – the leading Jumps meeting in the UK. Staged in March, the festival is seen as the culmination of the National Hunt season and includes the Cheltenham Gold Cup.  Check our Free Bets page for Bookmaker's Latest promotions for new customers on the Cheltenham Festival.

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Claimer – a horse race where the participants can be bought or claimed before a race. Horses are broadly of a similar ability as the claim is normally the same value for each horse.

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Classics – the blue riband flat horse races in the UK. The UK has five classic races; 1000 Guineas, 2000 Guineas, The Epsom Derby, The Epsom Oaks and the St Leger – all but the St Leger are restricted to three-year-olds.

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Co-favourite – three or more favourites in an event. Sometimes two favourites may be called co-favs and is interchangeable with joint-favourites.

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Commission (Exchange) – a percentage of profits taken by a Betting Exchange from winning bets. Betfair’s standard commission is 5% which translates to the exchange price multiplied by 0.95 to get the odds of reward.

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Conditions Horse Races – where the weight carried by a horse is determined by set conditions such as sex and age. Because weight carried is not determined by ability, Conditions Races tend to be less competitive than Handicaps.

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Correct Score – a bet on the final score of a match – most commonly used for football. Unless stated, Correct Score markets apply to the result at full-time (90mins) - which can be confused with the result after extra-time in knock-out matches.

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Coupon – traditionally an A4 sheet of midweek or weekend match odds but now usually an online term for football matches categorised together - for example Premier League, Champions League, Sunday's Football, UK Football etc.

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D

Decimal Odds – the price format commonly used in Continental Europe (sometimes known as European Odds) which shows the odds as the total returns including stake. When translating from fractional odds to decimal simply means adding 1 to the fractional value, 4/1 becomes 5.0, 4/5 becomes 1.80 etc

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Dead Heat – a tie for a position. To calculate winnings for dead heats the stake is split by the number tied, so if two horses dead heat for first, the stake is halved and then settled as usual. For example a £10 stake on a 4/1 winner in a two-way dead-heat would return £25 (£5 stake x 5 (4/1))  Dead-heats for positions are common in golf - check Golf Betting Form's betting calculator for working out returns on place dead-heats.

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Dividend – the returns for a unit stake in Tote betting.  Usually represented as a monetary amount to a unit stake such as £1.

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Double – a common multiple bet which involves two selections connected as one bet.  Both having to win to create the sum return, odds A multiplied by odds B.

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Drifter – a selection whose odds have lengthened in a betting market. Normally perceived as an indication that a selection will underperform.

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Draw No Bet – a bet which returns the stake if the result is a draw.

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Double Chance – a bet which covers two results, for example Home Win & Draw.

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Double Result – a bet on the result at half-time and full-time. Sometimes called HT-FT market, it can be a way of getting improved odds in very one-sided football matches by backing a team to win at half-time and full-time.

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Dutching – a method of staking on a number of selections, in the same betting market, which returns the same amount. Dividing odds by your desired win return lets you calculate stake amounts, for example Evens & 4/1 selections to a £10 win would stake £5 (10/2) and £2 (10/5)

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E

Each-way – a bet where equal stakes are placed on the win and place part of a selection (ie £5 on the win, £5 on the place)  The place return is quoted by the bookmaker for the market, in the case of horse racing place terms are dependent on the race type and number of runners.

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Each-way multiples – a multiple bet where all selections count as both a win and place multiple.  Also used in horse racing permutation bets, the number of selections is double the legs - for example an E/W Yankee (11 bets) is 22 bets. Use Golf Betting Form's Betting Calculators for E/W Doubles & Trebles.

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Edge – a perceived advantage for the punter over the bookmaker. Any long-term profitable strategy will have an edge for the punter.

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Enhanced Odds – promotional odds offers where odds are inflated to attract new customers. Staking limits are applied (normally between £1 and £10) and winnings are usually paid as free bets.

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Exchange Betting  – a betting website that allows punters to back or lay selections in an event similar to a stock exchange. Betfair have the most popular exchange which is important as more activity (liquidity) means betting prices are competitive.  Check Golf Betting Form's guide to Exchange Betting on golf.

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Even Money – a bet which returns double the stake. Even money is the dividing line between win returns being less and greater than the orginal stake.

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Extra Places – common promotion where bookmakers offer more places than standard place terms for Each-way bets. Commonly used in large-field horse racing handicaps such as the Grand National to offer more than the standard four places.

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F

Favourite – the shortest priced selection believed to be the most likely to win. Often a favourite attracts a disproportionate amount of betting money which will often be unprofitable for a bookmaker.

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Field – participants in an event.  Often standardised (golf events of 156) or limited for safety reasons (horse racing)

First/Last Goalscorer – a football market to predict the first or last goalscorer in a match. Popular as the odds are more attractive than the anytime goalscorer price.

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Final Declaration – the finalised field for a horse race. In the UK, Flat racing runners are declared two days before the race and Jump racing runners one day (two days for Sunday racing) - exceptions apply to some graded jump races.

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Fixed Odds – taking the price when a bet is placed in horse racing as opposed to leaving it to return the SP (starting price). When bookmakers offer Best Odds Guaranteed then the price should always be taken, when not it depends if the punter believes the odds will shorten before the race.

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Flat Racing – a race contested on a course with no obstacles. In UK, Flat races range from 5f (around 1km) to 2 ½ miles (around 4km)

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Fold bets – a term used for the number of selections in an accumulator. Normally starts from four-folds (four selections) as double (2-fold) and treble (3-fold) are preferred terms.

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Forecast – a bet predicting the first and second in an event as a straight forecast or reverse forecast. Returns are paid according to the dividend calculated using odds and field size.

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Form – a term which is generally used to describe the performance of player, horse, team etc. Good past results may indicate a selection is in-form, poor results that they are out-of-form.

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Fractional Odds – price format commonly used by UK bookmakers to represent the betting odds in a fractional format; for example £10 at odds of 10/1 returns £110 (ten times the stake plus the stake) The equivalent Decimal Odds are 11.0.

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Free Bets – promotional bets offered by bookmakers which do not include the original stake in returns. Often used to pay promotions for both new and existing customers – a £10 free bet at 4/1 would return £40 as opposed to the usual £50.  Check our Free Bets page for Bookmaker's Latest promotions for new customers.

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Full-time result – result of a match in normal time. Often used to distinguish between the result at 90mins and after extra-time in knock-out matches for up competitions.

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Furlong – a unit of distance used in horse racing (equal to 1/8 of a mile) - for example the Epsom Derby is run over 1 mile 4 furlongs. The word originates in Old English to signify the length of a furrow in one acre, furh (furrow) and lang (long)

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G

Gambling Commission – the regulator of the UK Gambling Industry – set-up in 2005 following the Gambling Act to ensure industry compliance with political objectives.

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Gee-Gees – slang for horse racing in the UK. Believed to originate from Mayor Henry Gee who consented to horse-racing at Chester in the 16th Century.

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Goliath – permutation bet including eight selections. A Goliath consists of 247 bets: 28 doubles, 56 trebles, 70 four-folds, 56 five-folds, 28 six-folds, 8 seven-folds and an eight-fold acca.

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Grade races – the top level of National Hunt horse races (Grade 1, 2, 3)  Grade 1 races include the Cheltenham Gold Cup, Grade 2 races include the Charlie Hall Chase at Wetherby and Grade 3 races include the Grand National.

Grand National – the UK’s most popular horse race, a steeplechase contested over 4 miles and 2 ½ furlongs at Aintree racecourse during April. Famous for iconic obstacles including The Chair and Becher’s Brook, and beloved racehorses such as Red Rum.

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Group races – the top level of flat horse racing (Group 1, 2, 3)  Group 1 races include the Epsom Derby, Group 2 races include the Dante Stakes at York and Group 3 include the Brigadier Gerard Stakes at Sandown.

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H

Hedging – placing a bet against an existing bet to ensure a profit - most common in markets where there are only two competitors. Something which has become more popular with online bookmaker’s cash-out feature.

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Handicap betting – method of levelling a betting market to equalise the odds. Especially popular in US Sports where the underdog is given points or goal leads.

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Handicaps – horse races where runners carry different weights based on their rating ensuring more competitve races. Handicappers rate horses ability based on past racecourse results.

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Heinz – a permutation bet with six selections. Heinz bets consist of 57 bets: 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and a 1 six-fold acca.

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Hurdle races – a National Hunt race over hurdles.  Hurdles are a minimum of three and half feet high, normally made of brush and flexible. Smaller than steeplechases, hurdles allow for a faster paced race.

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I

In-play betting – betting which takes place once an event has started. Increasingly popular because of online betting.

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IBAS - The Independent Betting Adjudication Service – an independent service endorsed by most UK bookmakers and the Gambling Commission which can adjudicate between a punter and bookmaker if there is a dispute over a bet.

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Insider– a person with privileged information on an event.  Often a big advantage in horse racing where ‘work’ at home can indicate a horse coming into form.

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J

Jackpot – a tote pool bet which requires predicting the winner in a set number of races (normally six) at a meeting – if nobody predicts the winners, the pool is carried over to the next meeting. Scoop6 in the UK is a special market on Saturday racing which can produce a pool of six or seven figures.

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Joint-favourite – two of more favourites at equal odds in an event. Often interchangeable with co-favourites.

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Jolly – slang for the favourite. Probably derived from happiness or joy connected with the most popular horse in the race winning.

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Jumps – a more informal name for National Hunt Hurdle and Chase races. Often colloquially termed as ‘over the jumps’

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K

Kelly Criterion – often considered the optimum strategy for staking which balances an edge with the chance of ruin. A simple equation where the fraction of your bank to stake, f = (bp – q) / b, where b is the decimal odds-1, p is the probability of winning and q is the probability of losing (1-p)  Check Golf Betting Form's Kelly Calculator to work out Kelly stakes on your bets

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L

Lay Bet  – in Betting Exchanges the odds available to oppose or take bets on a selection. Equivalent to the liability a bookmaker would take on a bet – commission is applied on any profits.

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Listed race – a prestigious horse race just below Group or Grade level. Races include the Winter Derby Trial on the flat and Wetherby Mares Hurdle over jumps.

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Live betting – another term for in-play betting. Often used by Continental European based bookmakers.

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Loyalty Bonus – a bookmaker promotion which rewards customers for placing bets over a period of time. Paddy’s Rewards and Coral Bet&Get being popular promotions.  Check our Free Bets page for Bookmaker's Latest promotions for new customers and more loyalty bonuses.

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Lucky 15/31/63 – popular permutation bet which includes singles on each selection. A Lucky 15 is a Yankee with four singles, Lucky 31 a Canadian with five singles and a Lucky 63 a Heinz with six singles.

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M

Margin – the bookmaker’s theoretical profit or over-round derived from the betting odds.  For example an event with five 3/1 chances would represent a 125% book (5 x 1/4) and a 25% advantage or margin.

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Martingale – a betting strategy which seeks to win back losses by increasing stakes. A flawed strategy as it disregards whether a bet has an edge so will inevitably lose money over the long-term.

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Matched betting – a way of guaranteeing a profit by taking advantage of free bet promotions.

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Match bet – a bet involving only two choices. Usually in events where there are only two possible results - dead-heat rules may apply where a tie is possible.

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Money-back Offer – a promotion which refunds a bet (normally as a free bet) if certain criteria, such a player scoring, is met.

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Multiple bet – a bet with 2 or more selections which includes accumulators bets such as doubles and trebles+.

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N

Nap – a tipster’s leading selection in an event or a meeting. Believed to be derived from the card game Napoleon where the best hand is a Nap.

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National Hunt racing – a race contested on a course with obstacles (hurdles or jumps)  National Hunt racing also includes NH flat races (normally around 2 miles) which are often the last race of a jumps meeting.

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NB – a tipster’s next best selection (after a Nap) in an event or meeting. Most newspaper tipsters will have both a Nap & NB for each meeting covered.

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Non-runner – a selection which doesn’t participate in an event. Usually non-runners are taken out of an event in enough time to allow for a new betting market to be formed – although Rule 4 rules may apply if not.

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O

Odds–against – the price of a selection with odds greater than Evens or 2.0. Signifies the point where a selection’s chances become less than 50% or less rather than more likely to happen (according to the betting)

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Odds-on – the price of a selection which odds less than Evens 2.0. Signifies the point where a selection’s chances become more than 50% or more rather than less likely to happen (according to the betting)

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Odds comparison – a website which allows the comparison of odds between different bookmakers.  An indispensable tool to ensure that punters get the best price. Oddschecker is the leading odds comparison site in the UK.

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Outrights – term often used by bookmakers for the outright winner market in a competition. Helps to distinguish between a winner in a match and a winner in an entire event.

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Over-round – another name for bookmaker’s theoretical advantage or betting margin especially when, as in normal cases, it is greater than 100%. Bookmaker’s tend to keep close to certain margins depending on the event, tennis and football result markets are normally around 110% or 10% over-round whilst Racing Handicaps may be 20%+ and golf can be 40%+.

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P

Palpable Error – an error made by a bookmaker which results in a bet being voided. If a bookmaker quotes odds that are out of line with a realistic price they can claim an error and void a bet.  Arbitration services such as IBAS may be used to validate the fairness of a voided bet.

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Parlay – the US term for an accumulator although US punters tend to favour single bets (handicaps etc)

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Patent – a permutation bet covering three selections, the same as a Trixie with singles. A bet with 7 bets: 3 singles, 3 doubles and a treble.

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Permutation bet – a bet which covers a number of selections in a series of accumulators and/or singles.  For example a Lucky 15 bet covers all bet types for four selections - four singles, six doubles, four trebles and one four-fold acca (a yankee is the same minus the singles)

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Place betting – a bet on a selection to finish in any of the advertised number of places. Less popular than an each-way bet partly because the odds on the place part will be inferior to the place only odds.

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Place terms – the number of places and fraction of the win odds for an each-way bet.  Varies with sports but normally standardised for horse racing;  Handicaps with 16+ runners - 1/4 odds on first four places, handicaps of 12-15 runners - 1/4 odds on first three,   all other races of 8+ runners - 1/5 odds on first three,  all races of 5-7 runners - 1/4 odds on first two.

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Placepot – a tote pool bet which requires predicting a horse to place in a set number of races (normally six) at a race meeting. Punters will normally improve their chances of winning by having multiple selections in most races, especially larger handicaps.

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Point Spread – the handicap margin in a two-way match where the underdog has the positive (or headstart) and negative (or handicap) – both selection’s odds will be the same or very close.  For example in an NFL match with Green Bay at Chicago with 3.5 spread, Green Bay (underdogs) would get 3.5 points, Chicago (favourites) conversely would have 3.5 points off.

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Punter – a slang term for somebody who gambles. Believed to originate from the French “ponter” or  “to play against the bank” in card games.

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R

Rag – slang term used in horse racing for an outsider. Probably derived from ‘rag-and-bone man’ to suggest the runner is a carthorse and therefore has little chance.

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Related Contigencies – a multiple bet invalidated when two or more selections have related outcomes. Normally occurs with the same player, horse or team in different markets, for example a double on the same horse to win the 2000 Guineas and Derby – the former would make the later more likely.

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Reverse Forecast – a forecast bet which covers 1st & 2nd in either order, in effect two straight forecasts – reverse forecast doubles are popular in greyhound racing.

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Round Robin – a permutation bet involving three selections. The same as a patent bet but with 3 singles so 7 bets - 3 Doubles, 1 Treble and 3 Single Stakes

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Rule 4 – a deduction that is applied to winnings if a selection is withdrawn before a new market is made – represented as pennies in the pound according to the last price of the horse (selections over 14/1 have no deduction) The deduction is approximately the percentage of the market represented by the odds ie a horse withdrawn at odds of Evs to 6/5 has a deduction of 45p in the pound.

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S

Same Game Multi – a bet which involves two or more predictions in the same event/match. Increasingly popular market which allows a type of accumulator within the same event whilst accommodating related bets such as 0-0 and no goalscorer.

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Scalping – covering all selections in an event (often with different bookmakers) to guarantee a profit whatever the result by taking advantage of under-rounds. Automated software has become popular for scalpers as the price advantages often don't last long.

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Sign-up Offers – a bookmaker promotion to incentivise potential customers to join.  The normal sign-up offer credits a customer with free bets on their first deposit and bets - for example bet £10 get £30 promotions.  Check our Casino Bonuses page for Bookmaker's Latest Casino promotions.

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Single – backing one selection to win in a market.

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Starting Price (SP) – the final price returned by the racing industry for a horse race in the UK & Ireland. A system which has been in place since the 18th Century to return a price for each horse prior to the off using on-course bookmakers odds (whose place terms tally with the standard e/w place terms) – broadly estimating the median price for each selection.

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Sportsbook – a bookmaker or section of a bookmaker’s website which offers fixed-odds on sports events (along with politics, TV specials etc), distinguishing from services such as casino, poker etc.

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Spread – the range between the buy and sell price in Spread betting. The difference in spread is effectively the profit the spread betting company takes from the market, zero spread would, assuming an efficient pricing, mean zero profit in the long term.

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Spread Betting – a form of betting which allows buying or selling a position in an event. A market will have a spread which allows a punter to go above (Buy) or below (Sell). For example a punter may believe a match ,where the Total Goals spread is 2.9-3.1, will be free-scoring so would buy 3.1 hoping for four or more goals. Profit or loss is the difference between the settled result and the price - for example one goal would be a -2.1 x stake loss (1 - 3.1) while five goals would be a 1.9 x stake profit (5 - 3.1)  Check Golf Betting Form's guide to spread betting.

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Steamer – a selection whose price has shortened considerably. Often occurs in horse racing on the morning of a race due to the popularity on a selection.

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Steeplechase race – a National Hunt race contested over large fences. Steeplechase fences need to be a minimum of 4 ½ feet and often include an open ditch or water.

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Straight Forecast – a bet on forecasting the first and second in an event returned as a dividend. The dividend is calculated using a formula which takes into account odds for the entire field.

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Super Heinz – a permutation bet consisting of seven selections.  A Super Heinz consists of 120 bets:  21 doubles,  35 trebles, 35 four-folds, 21 five-folds, 7 six-folds and a seven-fold acca.

System betting – a betting strategy which keeps to one or more rules to make a selection. System may keep to a set criteria, for example a trainer with 2-year-olds at a certain track.

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T

Tic-tac – a means of communicating odds movements between on-course bookmakers. Effectively defunct due to the electronic communication but slang such as Levels You Devils (Evens), Burlington Bertie (100/30) and Double Carpet (33/1) still survive.

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Tipster – somebody, usually a journalist, who recommends selections in an event. The likes of Templegate, Pricewise and Thunderer are well-known tipsters (although the actual people writing will change)

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Tissue – an early prediction of betting odds before the market has been formed. Often used for newspaper racecards where no betting market has been formed.

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Tote / Tote Pool – a form of betting where money is pooled together and winner’s paid out from that pool of money. Popular on-course for both horse and greyhound racing and also off-course for bets such as Jackpots and Placepots.  Primarily offered in the UK by the Tote who have a monopoly on UK racecourses and offer the placepots and jackpots.

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Transatlantic Double – a popular bet on golf which backs a selection on the PGA Tour and a selection on the European Tour. Often backed as an each-way double to increase the chance of a return with a place for both players producing a return.

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Tricast – predicting the first, second and third in an event. Popular in horse and greyhound racing, they often produce bumper payouts with four figure dividends.

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Trixie – a permutation bet with three selections. A bet with 4 bets: 3 doubles and a treble.

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Treble – a multiple bet involving three selections.

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True Odds – an estimation of the actual probability of a selection. Often betting odds are used to imply true odds or probability especially when talking about favourites in politics, popular culture etc

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Turnover Requirements – usually in connection with a sign-up bonus, the number of times a bonus and/or deposit amount must be bet before any winnings are eligible to withdraw as cash. For example a turnover requirement of x20 means a bonus amount of £50 must be bet to a total stake of £1000 before any winnings can be withdrawn.

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U

Under-round – a market with a betting margin below 100%. Rarely the odds offered by the same bookmaker but often taken advantage by arbers across two or more bookmakers.

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Unders/Overs – popular football market predicting the total goals under or over a value in a match. Usually these markets are quoted as halves as it discounts a draw.

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V

Value bet – a bet which is considered advantageous as it’s believed the true odds are shorter than the bookmaker odds. Any profitable betting strategy should aim for value bets.

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Void bet – a bet which is cancelled and the stake is returned on a selection. Where a void bet is included in a multiple bet the selection is given a price of 1.0.

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W

Weight-of-money – a term used for the dynamics of betting markets where money will push a price down. A large bet with one bookmaker will push down the price for that selection with them which normally has a cascading effect on other bookmakers.

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Withdrawn – a selection which is taken out of an event – often after the betting market is formed. In the case of a horse race it may result in a Rule 4 applied to returns.

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Win-Draw-Win – a term often used for the match betting market. Emphasises the point that a match will have three possibilities in match.

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Y

Yankee – a popular permutation bet with four selections. 4 selection wager consisting of 11 bets: 6 doubles, 4 trebles and a four-fold accumulator