What is a bet?
To place a bet is to risk a sum of money on a specified outcome actually occurring. If the prediction is not correct then the initial money staked is lost.
What is a bet selection?
A selection in betting is the horse/person/event chosen to actually occur. This could be a horse in a race, footballer to score the first goal or politician to win an election.
What is a bet stake?
Stake is the amount of money being placed on the bet, usually a unit stake is specified and a total stake to be paid.
What is a unit stake in betting?
When placing a multiple bet the customer is actually placing a number of bets on one slip, in this instance a unit stake is specified for each individual bet. For example a 50p Win Yankee would consist of 11 bets and the unit stake is 50p.
What is the total bet stake?
In our example above the unti stake is 50p and the number of bets is 11, the total stake for this bet would be £5.50 (50p x 11). The total stake is the number of bets multiplied by the unit stake chosen.
What is a bet return?
The return on a bet is the total amount of money collected from a winning bet, otherwise known as winnings. The return could be more or less than the original stake.
What is a profit on a bet?
Any return greater than the original total stake on a bet is known as profit. Our Yankee example above cost £5.50, so a return of £20.00 would give a profit of £14.50.
What is a favourite in betting?
The favourite in a betting event is the selection with the shortest price to win, the outcome with the most likelihood to happen. In betting markets favourites are usually towards the lower end of the price chart but each event is different and the favourite’s price can depend on a number of variables. A customer can opt to bet on the starting price favourite in an event by using ‘Favourite’ or ‘Fav’ as the selection name.
What is a joint favourite in betting?
When two selections share the same lowest price they are referred to as joint favourites or JF. If a customer has specified a bet on ‘favourite’ then their stake unit is split in two and a bet placed on each of the two favourites to win.
What is a co-favourite in betting?
When more than two selections share the same lowest price they are referred to as co-favourites (CF*) If a customer has specified a bet on ‘favourite’ then the stake unit is divided by the number of co-favourites stated, for example a CF4 would mean four selections share favouritism and the stake would be quartered.
What is a winner in betting?
Winner could refer to the winner of an event, the selection which comes first, or could refer to a bet which has a return to collect.
What is a dead heat?
A dead heat is when more than one selection finishes in the same position and cannot be split. In the event of a dead heat a winning bet on one of the selections will be split by the number of selections involved in the dead heat. If three horses dead heat for first then a £10 bet on one of them would have £3.33 as a winning bet and £6.67 as a losing bet, as all three horses cannot occupy one winning place.
What is a loser in betting?
A loser could be a selection that doesn’t win the event or a bet which has no return due back to the customer. We try to avoid any kind of loser at all costs!
What is a non-runner in betting?
A non-runner is a selection which does not take part in an event. For most bets placed on a non-runner the stake money is returned to the customer, unless the bet placed is an ante-post bet. For multiple bets containing non-runners the bet is calculated with that selection overlooked for settling purposes and all other results still stand.
What is a void?
A void bet is usually as a result of a non-runner or an abandoned event. Void means that the event has not taken place and the bet stakes are returned or settled as 1.00 in multiple bets.