Bookmakers lay bets at varying prices. These are known as odds. Prices can be odds on, even money or odds against.



? Odds on: Bookmakers prices are offering lower amounts than the amount staked. This is represented in fractions. 2/1 on will win half the amount staked. Can be advertised as ?.

? Odds against: Bookmakers offer more money than the amount staked.

? Even Money: Bookmaker lays equal amount to amount staked by backer. Shouts often heard of ?evens the favourite? or ?even money the field?. Basically means ?1 returned for every'1 staked.

Putting this data into practice we would see:

? At 2/1 against for every pound staked two pounds in returned.

? At 2/1 on 50p would be returned

? At 6/4 on 66p would be returned

? All figures obviously include getting your stake back and the winnings are subject to tax unfortunately!!

BAR ONE

Often heard shouted around the racecourse and Tattersalls you may hear shouts of ?five to one bar one? or ?fours bar?. One may even be lead to assume that these are horses running in literally every race.

The television presentations don't really help in explaining this situation...

The shouts can be translated:

?Five to one bar one? means that apart from the favorite, every horse in this race is at five to one against or above.

?Fours bar? means that apart from the horses already quoted and including the favorite, all the other horses are at four to one or better.

Longer odds/ shorter odds.

10/1 is longer than 5/1 for obvious reasons, and equally it is much longer than even money, or an odds-on price, or in the market, than a horse given at odds against.

On the other side, an odds on ?change? is said to be ?shorter? in the betting

?Shortening?, ?steaming? or ?coming in? are all phrases referring to the contraction of a horses price in the market.

When the odds on offer lengthen and become larger say from 4/1 out to 10/1 then the horse is said to have ?taken a walk in the market, also known as ?drifting? or ?gone badly in the market?.

If odds seem to be particularly short they are said to be ?cramped?.

When odds go out beyond 20/1 or above, the horses are referred to as ?outsiders? at any price you like.

Sometimes referred to as ?rags? or ?out with the washing?.

Fractions:

Sometimes the fractions available in Tattersalls don't appear to be logical when related to decimalization. Earlier in the century of course there were eight half crowns to the pound or ?sovereign? as it was previously known.

This is obviously the foundation for all the fours and eight that you may see in the list and calculating winnings and stakes was a good deal easier than it is today.

Decimalization has made some bets such as multiple bets much easier to calculate. Decimalization of bets has lead to the term ?odds ready reckoned?

OFF

?They are off at Kempton?. The official start of a race. Most off course bookies will not cover bets after the start. Betfair of course offers a full inplay betting service for all horse races, but I wouldn't try using it on races less than a mile. Some bookies will accept bets during other sporting events.

On the course most bookies will take bets during the first few furlongs of longer races over 2 miles.

OFF THE BIT

Also called ?Off the bridle?.

When horses, in the early stages of a race, are hard held by the jockey and traveling smoothly they are said to be ?on the bit? or ?on the bridle?. Some horses pull harder than others and may be difficult to settle at this stage.

When given their head, or ?let down?, and urged for an effort they are said to be ?off the bit? or ?off the bridle?.

ON

Betting term meaning that a bet or side bet has been struck: ?60 to 40 the favorite falls" ?You're on? or ?What did you back? ?I couldn't get on?

OVERWEIGHT

When a jockey cannot physically get down to the weight due to be carried, the difference between that weight and what the weighting room scales show is called ?overweight?.

It is yet another piece of information given on the numbers board e.g. when a horse in a handicap is weighted at 8st, and the jockey cannot turn the scales, with the saddle and saddlecloth and other equipment included, at less than 8st 2lb, he has to declare 2lb overweight