Betting A-Z: O – The Ultimate Encyclopaedia for All Your Betting Needs

Betting A-Z: O – The Ultimate Encyclopaedia for All Your Betting Needs

Odds: A numerical expression that represents the likelihood of a particular outcome in a sporting event or other occurrence. Odds are used by bookmakers to determine the payouts for winning bets.

Odds Against: A term used to describe a bet where the odds are greater than even money, meaning the potential payout is higher than the amount staked.

Odds Compiler: A person who is responsible for setting the odds for a sportsbook or bookmaker. This involves analyzing various factors such as form, injury news, and historical data to determine the probability of different outcomes.

Odds Converter: A tool or calculator used to convert odds from one format to another. This can be useful when comparing odds from different bookmakers or when trying to calculate potential payouts.

Odds Format: The way in which odds are displayed by a bookmaker or sportsbook. There are several different formats used around the world, including decimal, fractional, and American.

Odds Movement: Refers to changes in the odds for a particular event over time. This can be influenced by factors such as betting volume, news and information, and the opinions of the odds compilers.

Odds Ratio: A mathematical concept that represents the ratio of the probability of an event occurring to the probability of it not occurring.

Odds Shark: A popular online resource for sports bettors that provides odds and betting analysis for a wide range of sporting events.

Odds-on: A term used to describe a bet where the odds are less than even money, meaning the potential payout is lower than the amount staked.

Odds-on Favorite: The team or player that is expected to win a sporting event based on the odds. When a team or player is an odds-on favorite, it means that the potential payout for a winning bet is less than the amount staked.

Oddschecker: An online odds comparison site that allows users to compare the odds offered by different bookmakers for a wide range of sporting events.

Oddsmaker: See Odds Compiler.

Oddsmatching: A technique used by matched bettors to find and compare odds for the same event at different bookmakers, in order to find the best value bets.

Oddsmatching Software: Software designed to automate the process of oddsmatching, allowing matched bettors to find and compare odds more efficiently.

Oddsmatching Tool: See Oddsmatching Software.

Oddsmonkey: A popular matched betting service that provides software and tools to help users find and take advantage of value bets.

Oddsportal: An online odds comparison site that provides odds and betting information for a wide range of sporting events.

Off the Board: A term used to describe a situation where a bookmaker has temporarily suspended betting on a particular event.

Off the Book: A term used to describe a bet that is not recorded by a bookmaker.

Off the Top of Your Head: Refers to making a guess or estimate without any preparation or research.

Off-Piste Bet: A bet placed on a less popular or obscure market.

Off-Season: Refers to the period of time when a particular sport is not currently in season.

Off-Track Betting: Refers to betting on a sporting event at a location other than the actual venue. This can include betting at a racecourse, online, or at a betting shop.

On the Button: Refers to betting the exact amount required to win a particular bet.

On the Come: Refers to making a bet on the outcome of a particular event before it has started.

On the Hop: Refers to a bet in craps where the player is betting on a specific combination of numbers

, such as 2-2 or 3-5.

On the Nose: A horse racing bet where the player wagers that the chosen horse will win the race.

On the Square: A term used to describe an honest and fair bet.

On the Wrong Foot: A term used to describe a bet that has gone against the bettor.

One Touch Bet: A type of bet where the player makes a prediction for an outcome that will occur during a specific moment in a match.

One-Liner: A type of horse racing bet where the player wagers that a specific horse will finish in first or second place.

Online Sportsbook: A website that offers sports betting services over the internet.

Opening Line: The initial betting odds for a match, set by a bookmaker.

Out: A term used to describe a horse that is no longer in contention to win a race.

Outlay: The amount of money a bettor places on a wager.

Outright Bet: A type of bet where the player wagers on the winner of a tournament or league.

Outright Market: The market where a bookmaker offers odds on the winner of a tournament or league.

Outright Winner: The player or team that wins a tournament or league.

Outside Bet: A type of bet where the player wagers on a selection with higher odds of winning, but lower probability.

Over the Line: A term used to describe a bet that is questionable or illegal.

Over the Odds: A term used to describe a selection with higher odds than expected.

Over the Top: A term used to describe a bet that is excessively large.

Over/Under Bet: A type of bet where the player wagers on whether the total number of points, goals or other statistic in a match will be over or under a specific number.

Overbetting: The act of placing too much money on a bet.

Overbroke: A term used to describe a bookmaker’s exposure when the total amount of money bet on a specific selection exceeds the bookmaker’s liabilities.

Overlay: A selection with higher odds than it should have, usually due to an error in the bookmaker’s odds calculation.

Overlay Underlay: A betting strategy where the bettor wagers on both overvalued and undervalued selections to increase their chances of winning.

Overround: The total percentage of all possible outcomes of an event, representing the bookmaker’s profit margin.

Overround Book: A term used to describe a bookmaker’s book where the total percentage of all possible outcomes of an event exceeds 100%.

Overweight: A term used to describe a horse that is carrying more weight than is optimal for its performance. In betting, it can also refer to a selection with higher odds than it should have due to an overestimation of its chances of winning.