Horse racing and gambling are filled with lots of unusual terms and phrases that you need your own definition just to understand. To help you become an expert and become fluent we are going to break down the most common slang terms used in thoroughbred racing betting. Let’s get started!
- Win – The most popular bet type and involves simply predicting which thoroughbred will come first in the race.
- Place – When making a place wager you are betting on an animal to come first or second. Both outcomes result in the same payout.
In the money – A thoroughbred is considered to be in the money if they secure a top 3 placing. The phrase is used because many bets pay out if thoroughbred places in the top 3.
- Speed Figure – The speed figure analyzes the likelihood of winning based on their previous performances and in particular the horses they have run against and beaten. Thoroughbreds with top speed figures have beaten other top ones and won prestigious events.
- Wheel – A wheel is where you bet on every single possible combination!
- Exacta – With an exacta wager you have to predict which thoroughbred will place in the top 2 and in what order. For example, if you gamble on “John John” coming first and “Lucky Lady” coming second but “Lucky Lady” wins, and “John John” comes second, you lose.
- Trifecta – With a trifecta wager your goal is to predict which horses will place in the top 3 and their exact order. This wager offers some very high payouts but is even riskier than an exacta wager.
- Overlay – It refers to an animal that is undervalued based on the market odds and is likely to outperform.
Underlay – It refers to a horse that is expected to perform worse than the bookmakers predict.
- Bounce – A bounce refers to a situation where a top thoroughbred went from winning a race to then performing poorly in their next event.
- Chalk – It is an animal who is predicted to win a race outright, also known as a favorite.
- Key horse – It is a thoroughbred that is included in all of the gambler’s bets. For example, it might feature in 3 different doubles and a treble.
These are just some of the most famous phrases. There are hundreds more and it will take you years to learn all of them!
Try Your Luck And Place A Bet!
Now you are fluent in horse racing slang and know all of the common gambling terms, it is time to try your luck and make some bets. Simply pick a race, and a wager type! To ensure you remain a winner in the long term, keep track of your progress and diversify the risks by never betting over 2% of your entire bankroll on one event.