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Glossary Of Bets Offered By UK Bookmakers
This is a non-exhaustive list of traditional and popular bets offered by bookmakers in the United Kingdom. The 'multiple-selection' bets in particular are most often associated with horse racing selections but since the advent of fixed-odds betting on football matches some punters use these traditional combination bets for football selections as well. Types of bet Win :A bet that produces a return only if the selection comes first in an event (i.e. wins). A win bet may be placed on a single event. Place :A bet that produces a return only if the selection finishes first or within a predetermined number of positions (places) of the winner of an event. The return is often based on a fixed proportion of the win odds of the selection. Each-way :A combination of win and place bets of equal size. Each-way bets may be placed on a single event or on two or more selections in a multiple bet. Each-way multiple bets are settled on a win-to-win and place-to-place basis. Single :A bet on a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gambling
Gambling (also known as betting or gaming) is the wagering of something of value ("the stakes") on a random event with the intent of winning something else of value, where instances of strategy are discounted. Gambling thus requires three elements to be present: consideration (an amount wagered), risk (chance), and a prize. The outcome of the wager is often immediate, such as a single roll of dice, a spin of a roulette wheel, or a horse crossing the finish line, but longer time frames are also common, allowing wagers on the outcome of a future sports contest or even an entire sports season. The term "gaming" in this context typically refers to instances in which the activity has been specifically permitted by law. The two words are not mutually exclusive; ''i.e.'', a "gaming" company offers (legal) "gambling" activities to the public and may be regulated by one of many gaming control boards, for example, the Nevada Gaming Control Board. However, this distinction is not u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bookmaker
A bookmaker, bookie, or turf accountant is an organization or a person that accepts and pays off bets on sporting and other events at agreed-upon odds. History The first bookmaker, Ogden, stood at Newmarket in 1795. Range of events Bookmakers in many countries focus on accepting bets on professional sports, especially horse racing and association football or Indian Premier League cricket. However, a wider range of bets, including on political elections, awards ceremonies such as the Oscars, and novelty bets are accepted by bookmakers in some countries. Operational procedures By "adjusting the odds" in their favour (paying out amounts using odds that are less than what they determined to be the true odds) or by having a point spread, bookmakers aim to guarantee a profit by achieving a 'balanced book', either by getting an equal number of bets for each possible outcome or (when they are offering odds) by getting the amounts wagered on each outcome to reflect the odds. W ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Horse Racing
Horse racing is an equestrian performance sport, typically involving two or more horses ridden by jockeys (or sometimes driven without riders) over a set distance for competition. It is one of the most ancient of all sports, as its basic premise – to identify which of two or more horses is the fastest over a set course or distance – has been mostly unchanged since at least classical antiquity. Horse races vary widely in format, and many countries have developed their own particular traditions around the sport. Variations include restricting races to particular breeds, running over obstacles, running over different distances, running on different track surfaces, and running in different gaits. In some races, horses are assigned different weights to carry to reflect differences in ability, a process known as handicapping. While horses are sometimes raced purely for sport, a major part of horse racing's interest and economic importance is in the gambling associated with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Odds
Odds provide a measure of the likelihood of a particular outcome. They are calculated as the ratio of the number of events that produce that outcome to the number that do not. Odds are commonly used in gambling and statistics. Odds also have a simple relation with probability: the odds of an outcome are the ratio of the probability that the outcome occurs to the probability that the outcome does not occur. In mathematical terms, where p is the probability of the outcome: :\text = \frac where 1-p is the probability that the outcome does not occur. Odds can be demonstrated by examining rolling a six-sided die. The odds of rolling a 6 is 1:5. This is because there is 1 event (rolling a 6) that produces the specified outcome of "rolling a 6", and 5 events that do not (rolling a 1,2,3,4 or 5). The odds of rolling either a 5 or 6 is 2:4. This is because there are 2 events (rolling a 5 or 6) that produce the specified outcome of "rolling either a 5 or 6", and 4 events that do n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Association Football
Association football, more commonly known as football or soccer, is a team sport played between two teams of 11 players who primarily use their feet to propel the ball around a rectangular field called a pitch. The objective of the game is to score more goals than the opposition by moving the ball beyond the goal line into a rectangular framed goal defended by the opposing side. Traditionally, the game has been played over two 45 minute halves, for a total match time of 90 minutes. With an estimated 250 million players active in over 200 countries, it is considered the world's most popular sport. The game of association football is played in accordance with the Laws of the Game, a set of rules that has been in effect since 1863 with the International Football Association Board (IFAB) maintaining them since 1886. The game is played with a football that is in circumference. The two teams compete to get the ball into the other team's goal (between the posts and under t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Each-way
An each-way bet is a wager offered by bookmakers consisting of two separate bets: a win bet and a place bet. For the win part of the bet to give a return, the selection must win, or finish first, in the event. For the place part of the bet to give a return, the selection must either win or finish in one of the predetermined places for the event, such as first place or second place. The odds paid on the place part of the bet are usually a fraction (commonly , , or ) of the win odds. The trade-off being that one has a greater chance of making one's bet in trade for getting less payoff for doing so. Examples are domestic football knockout competitions (e.g. FA Cup) where the quoted place terms may be . In horse racing in the United Kingdom, the "place" is set strictly by the Jockey Club and will depend on the size of the field (that is, how many horses are running) so that the "place" may be just 1st and 2nd, 1st 2nd and 3rd, or even 1st 2nd 3rd or 4th on a big race like the Grand ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Full Cover Bet
A full cover bet is any bet which consists of all available multiple bets over a given number of selections. Examples of full cover bets: * '' Trixie'' - three selections * ''Yankee'' - four selections * '' Canadian or Super Yankee'' - five selections * '' Heinz'' - six selections * '' Super Heinz'' - seven selections * ''Goliath'' - eight selections Examples of full cover bets with singles included: * ''Patent'' - three selections * '' Lucky 15'' - four selections * '' Lucky 31'' - five selections * '' Lucky 63'' - six selections The ''Lucky'' bets are so named because of the bookmaker's practice of offering bonuses for one or more winning selections; most common of which is 'double the odds' for one winner. The offering of a percentage increase in winnings for the success of two or more selections in these ''Lucky'' bets is primarily to compensate for the compounding of the overround when two or more events with individual overrounds on their books are combined in doubles, tre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ante-post Betting
In horse racing and greyhound racing, an ante-post bet is a bet placed before the horse/greyhound racing course's betting market has opened, and is made on the expectation that the price of the horse/greyhound is presently more favorable than it will be when the course's market opens. Generally, this includes any bet placed before the day of the race. Ante-post betting, unlike starting price In horse racing, the starting price (SP) is the odds prevailing on a particular horse in the on-course fixed-odds betting market at the time a race begins. The method by which SPs are set for each runner varies in different countries but is genera ... betting, carries the additional risk that the original bet will be forfeited, rather than returned, if the wagered horse fails to run.Hammond (1992), p. 19. The ''ante'' in ante-post is derived from the Latin ''ante'' (meaning "before"), but the ''post'' is not the Latin ''post'' (meaning "after"). Instead, it is derived from the nineteenth centu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exacta
Parimutuel betting or pool betting is a betting system in which all bets of a particular type are placed together in a pool; taxes and the Vigorish, "house-take" or "vigorish" are deducted, and payoff Odds#Gambling odds versus probabilities, odds are calculated by sharing the pool among all winning bets. In some countries it is known as the tote after the Tote board, totalisator, which calculates and displays bets already made. In short, the word ''parimutuel'' implies tiered winnings/earnings. The parimutuel system is used in gambling on horse racing, greyhound racing, jai alai, and other Sport, sporting events of relatively short duration in which participants finish in a ranked order. A modified parimutuel system is also used in some lottery games. Definition Parimutuel betting differs from fixed-odds betting in that the final payout is not determined until the pool is closed – in fixed odds betting, the payout is agreed at the time the bet is sold. Parimutuel gambling ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Perfecta (gambling)
Parimutuel betting or pool betting is a betting system in which all bets of a particular type are placed together in a pool; taxes and the "house-take" or "vigorish" are deducted, and payoff odds are calculated by sharing the pool among all winning bets. In some countries it is known as the tote after the totalisator, which calculates and displays bets already made. In short, the word ''parimutuel'' implies tiered winnings/earnings. The parimutuel system is used in gambling on horse racing, greyhound racing, jai alai, and other sporting events of relatively short duration in which participants finish in a ranked order. A modified parimutuel system is also used in some lottery games. Definition Parimutuel betting differs from fixed-odds betting in that the final payout is not determined until the pool is closed – in fixed odds betting, the payout is agreed at the time the bet is sold. Parimutuel gambling is frequently state-regulated, and offered in many places where gambl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trifecta
Trifecta A trifecta is a parimutuel bet placed on a horse race in which the bettor must predict which horses will finish first, second, and third, in the exact order. Known as a trifecta in the US and Australia, this is known as a tricast in the UK, a tierce in Hong Kong, a triactor in Canada and a tiercé in France. A trio, offered in Hong Kong and France, is a variation in which the order of the horses is not relevant. Variations Boxed A "boxed" trifecta is where three horses are selected, and the player wins if these three horses finish first in any order. Boxed bets are effectively equivalent to placing standard trifecta bets on all six possible outcomes of the selected horses. For example, a boxed trifecta of horses numbered 6, 7 and 9, wins if horses finish in any of these combinations of outcomes: * 6, 7, 9 * 6, 9, 7 * 7, 6, 9 * 7, 9, 6 * 9, 6, 7 * 9, 7, 6. Banker One horse (the "banker") is chosen to win the race, and two or more selections are boxed to come secon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mathematics Of Bookmaking
In gambling parlance, making a book is the practice of laying bets on the various possible outcomes of a single event. The phrase originates from the practice of recording such wagers in a hard-bound ledger (the 'book') and gives the English language the term bookmaker for the person laying the bets and thus 'making the book'. Sidney 2003, pp. 13, 36 Making a 'book' (and the notion of overround) A bookmaker strives to accept bets on the outcome of an event in the right proportions in order to make a profit regardless of which outcome prevails. See Dutch book and coherence (philosophical gambling strategy). This is achieved primarily by adjusting what are determined to be the true odds of the various outcomes of an event in a downward fashion (i.e. the bookmaker will pay out using his actual odds, an amount which is less than the true odds would have paid, thus ensuring a profit). The odds quoted for a particular event may be fixed but are more likely to fluctuate in or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
