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RACEBOOK GLOSSARY

Outlay - The money a bettor wagers is called his or her outlay.

Out Of The Money - A horse that finishes worse than third.


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Outsider - A horse that is not expected to win. An outsider is usually quoted at the highest odds.

Overlay - A horse going off at higher odds than it appears to warrant based on its past performances.

Overnight Race - A race in which entries close a specific number of hours before running (such as 48 hours), as opposed to a stakes race for which nominations close weeks and sometimes months in advance.

Over The Top - When a horse is considered to have reached its peak for that season.

Overweight - Surplus weight carried by a horse when the rider cannot make the assigned weight.

Pacesetter - The horse that is running in front (on the lead).

Paddock - Area where horses are saddled and kept before post time.

Panel - A slang term for a furlong.

Parimutuel(s) - A form of wagering originated in 1865 by Frenchman Pierre Oller in which all money bet is divided up among those who have winning tickets, after taxes, takeout and other deductions are made. Oller called his system 'Parier Mutuel' meaning 'Mutual Stake' or 'betting among ourselves'. As this wagering method was adopted in England it became known as 'Paris Mutuals', and soon after 'Parimutuels'.

Part Wheel - Using a key horse or horses in different, but not all possible, exotic wagering combinations.

Patent - A type of bet.

Penalty - A weight added to the handicap weight of a horse.

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