BETTING MANAGEMENT GLOSSARY

ACROSS THE BOARD
A bet to win, place, and show, usually of the same amount

BASE BET PLUS SQ. ROOT OF PROFITS
A betting method where the first bet is $2 and subsequent bets are set equal to $2 plus the square root of any profits; appropriate to small bettors and has the advantage that as profits grow the bet-size becomes a smaller percentage of those profits

BASEBALLS
A three-horse exacta box

BET-SIZE
The amount of the bet

CHALK PLAYER
A frequent bettor of favorites

CHASE
To bet more when losing

COMBINATION BET
Any wager where two or more horses are coupled as a single betting interest

CRUSH
To maximize profits from a situation the player comprehends as offering outstanding value and a high probability of winning simultaneously

DAILY DOUBLE
A serial bet where the player must pick the winner In two consecutive races, usually the first and second

DUE COLUMN BETTING
A method of betting where a financial goal is set for the day and bet-sizes are progressed until the profit goal Is reached

EXACTA
A combination bet whereby the player must pick the first and second finishers in the exact order

EXACTA BOX
A combination bet whereby the player couples two or more horses in every possible combination

EXOTIC WAGERING
Combination and serial bets involving more than one horse as a single betting interest; characterized as low-probability bets having relatively high payoffs

EXPECTATION
The degree of profit or loss the player can expect during the season; calculated as the player's win percentage multiplied by the average odds on the player's winners, and that amount minus the player's loss percentage

FAIR-VALUE BETS
Bets where the payoffs will be approximately equal to the risk

FALSE FAVORITE
The horse is not the horse most likely to win, regardless of the odds; an underlay

FAVORITE
Has the most money bet to win in the field

FIXED-PERCENTAGE BETS
Bets of the same percentage amount each time, such as five percent of the bankroll

FIXED-PERCENTAGE MINIMUM
A method of betting where a percentage amount is bet following a win and a minimum amount Is bet following a loss

FLAT BETS.
Bets of the same amount each time

HIGH ROLLER
A big bettor

IN THE MONEY
A finish first, second, or third, requiring pari-mutuel payoffs

KELLY WAGERING
A method where the percentage bet is set equal to the player's advantage in the game or situation; in a positive situation has the advantage that it optimizes the growth of the bankroll

KEY HORSE.
In a combination bet, one horse is coupled with each of the others combined in the wager

NEGATIVE EXPECTATION
A bet or series of bets known to result in a loss

ODDS-ON FAVORITE
Less than even-money to win; a heavy favorite

OVERLAY
An under bet horse The horse has a better chance to win than the betting suggests

PICK 3
A serial bet where the player must pick the winners of three consecutive races

PICK 6
A serial bet where the player must pick the winner of six consecutive races; characterized by low probabilities of winning and relatively large and exotic payoffs

PLACE AND SHOW OVERLAYS
Horses, usually favorites and low-priced contenders, that are over bet to win and under bet to finish second and third

POSITIVE EXPECTATION
A bet or series of bets known to result in a profit

QUINELLA
A combination bet whereby the player must pick the first and second finishers in either order; cost is half as great as an exacta box and should pay halt as much

ROLLOVER PICK 3
A series of three-race Pick 3s from the first race to the last race

SCORE
To make substantial profits from a single bet

SERIAL BET
Any wager where the horses in two or more races are coupled as a single betting interest

STRAIGHT BETTING
Betting to win

THE EDGE
The player's advantage in the game; the player's advantage In a particular race or situation

THE OPTIMUM BET SIZE
The player's edge divided by the odds on the horse to win

THE OPTIMUM BET SIZE
The odds to win on the horse divided by the player's edge on the game

TRIFECTA
A combination bet whereby the player must pick the first, second, and third finishers in the exact order

TRIFECTA BOX
A combination bet whereby the players couples three or more horses in every possible combination

UNDERLAY
An over bet horse; the horse does not have as good a chance to win as the betting suggests

VALUE
The worth of the bet, such that the benefit should exceed the risk

WHEEL HORSE.
In a combination or serial bet, one horse is coupled with all the other horses in the field