Glossary

paddock

The enclosed area where horses are saddled before a race.

parimutuel betting

Also known as pool or tote betting, a type of betting in which all stakes for a particular market are pooled and then distributed among bet winners.

parlay

The US term for accumulator.

patent

A wager on three selections in different events, consisting of seven bets - three singles, three doubles, and a treble. A return is guaranteed if one or more of the selections wins.

payout

The total amount that a punter is paid for a winning bet, including the stake originally placed and the winnings.

penalty

1. A disadvantage or handicap imposed on a competitor or team for violation of a rule. 2. In horse racing, a standard additional amount of weight to be carried by a horse if it has won one or more races between being entered in a handicap race and running in the race. A typical penalty weight is 6 lb.

perm betting

Perm (or permutation) betting is splitting the stake for a bet among multiple combined bets to cover different possible outcomes and so maximise the likelihood of a return.
Perm betting

permutation

See perm betting

Pick Six

A Tote bet you win by picking the winners of six consecutive races.

picks

A selection of bets chosen by a tipster or expert.

place

1. In horse racing, to finish in a notable position. In a race with eight or more runners, a horse places if it comes first, second or third. In a race with 16 or more runners, a horse also places if it comes fourth. Bookmakers may pay out additional places when offering place specials. 2. In other sports, to finish within a specified number of positions from the tournament winner. In this case the place is defined exclusively by the bookmaker and not by the governing body of the sport in question.

place bet

A place bet is a bet that a selection will finish amongst the top contestants in a sports event. It is a bet on a selection performing well in an event, but not necessarily winning that event.
Place betting

place specials

Special offers on place bets. For example, a standard place bet in horse racing may win if a horse finishes first, second or third in a race. In this case, a bookmaker may offer also to pay out bets on the horse if it finishes in fourth place.

playthrough requirement

A requirement that you place additional bets before winnings on a free bet or a bonus amount is paid to you. For example, bookmakers may have playthrough requirements stating that winnings on free bets will be paid out only after you've placed a certain number or value of additional bets.

point spread

The predicted difference in score between two teams or competitors in an event. Also see spread.

pony

Bookmaker slang for £25.

pool betting

Also known as parimutuel or tote betting, a type of betting in which all stakes for a particular market are pooled and then distributed among bet winners.

post parade

Before a race, the procession of the horses in front of the grandstand.

post position

The number of a horse's stall in the starting gate.

post time

The time when a race is scheduled to start.

Postdata table

A table containing information about the form of each horse entered in a race, compiled by The Racing Post and available on its web site.

price

In the context of betting, another term for odds.

principal race

The key, or most significant, race in a series of races held at a particular course.

probability

Probability is the statistical likelihood of a specific event or outcome occurring.
Probability

problem gambling

Problem gambling is any gambling behaviour that causes harm to the person gambling, and/or to this person's friends or family members.
Problem gambling

punter

Someone who places a bet.

purse

The prize money for a horse race.