Betting Glossary: Explanations, definitions of basic sports wagering terms SportsLine provides an elementary outline of fundamental sports-betting concepts such as the point spread, money line, rotation numbers, parlays and teasers. Glossary of Terms for Horse Racing Betting The sport of horse racing and the associated betting both use a fair amount of jargon. If you want to be successful at horse racing betting then it pays to have an understanding of all the various terms used.
How Do Odds Work in Horse Racing?
Betting Terminology Explained
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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. Casinos that still use coins near me. Those odds will remain fluid all the way up until the moment the gates open and the race begins.
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Betting Terminology Explained
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.