Bet Terminology
How Do Odds Work in Horse Racing?
Horse racing odds are fluid leading up to the race because they are dictated by the amount of money in the pools. Prior to every race day, a track official will release the morning lines. Those morning lines are a projection of where the odds for each horse will finish when the race goes off, and do not have any direct impact on potential payouts. Using those morning lines as a starting point, as more money comes in on certain horses, their odds will go down. Horses that aren't attracting a lot of money in the win pool will have their odds go up. Those odds will remain fluid all the way up until the moment the gates open and the race begins.
Sports Betting Terms And Definitions
The most important thing to note is that the odds/payout you will receive are based on when the race starts, not when you place the bet. If you bet on a horse at 5-to-1 three minutes before the race and he goes off at 3-to-1, you're going to get paid based on those 3-to-1 odds. Conversely, if you bet on a horse at 5-to-1 and he goes off at 8-to-1, you're looking at a nice increased payout.
Football Bet Terminology
Betting terminology refers to the language used in the betting world. Some of the words are unique to the world whilst others are borrowed from the English language and mean something quite different outside. Lengthen is a betting term that refers to when a bookmaker increases the odds for a certain market.