Sports betting terminology

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
The most backed entrant, i.e. the one with the shortest price.

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 customer may place on a bet to win on a particular selection.

MLB
Major League Baseball.Odds on
A betting price where the odds are lesser than evens i.e. the winnings are smaller than the stake.

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
The odds

Selection
The player, football team etc. that the customer has predicted as a winner of a particular event.

Stake
The amount of money a customer wishes to wager 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.
 
Tattersalls 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This rule may be applied when an entry has been withdrawn (not under orders) and there is too little time for the betting market to be reformed. Deductions are made from winnings based on the price of the withdrawn entry when it was withdrawn.

Walk over
When only one entrant goes to the start of an event.

Winnings
The extra amount the customer collects not including his original stake money.

Underdog
The team perceived to be the most likely to lose. Also known as the ”dog.”



 

 

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