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Technical Terms

Ante-post betting

Prices offered on Sporting or Horse Racing events prior to the day the event takes place are termed ante-post. Please be aware that if for some reason a participant does not take part in the event, the bet is deemed to have 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 Ernie Els place bet - 5 places are paid and Ernie finished 5th tied with Sergio Garcia and R100 was staked on Ernie for a place.
  • Ernie and Sergio will be a dead-heat and the odds taken on Ernie 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

When the potential win equals the amount staked e.g. 100/100

 

Favourite

The contestant expected to have the best chance of winning and subsequently has the shortest price in the market

 

Leg

Multiple bets are made up of ‘legs’ for example a treble will have three legs.

 

Limits

The win limit is the maximum amount that a customer can win on any particular market

 

MLB

Major League Baseball.

 

Odds on

When the potential win is less than the amount staked e.g. 6/10.This is for highly fancied contestants.

 

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 available for a contestant or participant

 

Selection

The horse, player or team that the customer believes will win a specific contest

 

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.

 

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This rule may be applied when an entry has been withdrawn (not under orders) and there is too little time for the betting market to be reformed.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 after tax and not including his original stake money.

 

Underdog

The opposite of a favourite and is not usually expected to win. Many an underdog has proven bookers wrong!