William Hill

Betting Glossary - Essential Betting Terms beginning with O

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O/U
over/under. The total listed for the game, you can bet on whether the total combined score will be OVER or UNDER that number Acceptor - horse remaining in race after a key declaration stage
Objection
Complaint by one jockey about another about a breach of rules during a race
Odds
A way of expressing the probability of an outcome - or a distortion of the actual probability, adjusted to build in a margin for the bookmaker. Odds are closely related to fractions.
Odds Against
Where you are betting a lower stake than the bookmaker; e.g. 2/1.
Odds On Favorite
A horse, team, or individual so favored by the public that the odds are less than even.
Off
(Of a race) the start
Off Course Betting
Where you can bet in credit offices and betting shops.
Off the bit/bridle
Horse who has run out of energy and has to be pushed along, any restraint on the reins/bit having been released to allow the horse to run at maximum capacity.
Off the board
A game on which the bookmaker will not accept action.
Off the pace
Not keeping up with other horses during a race
Off-course bookmaker
A bookmaker who is not present at the race course or other event - eg in a high street betting shop.
Official Handicapper
A group of officials who assess the weights of horses as a mark of their ability. These ratings are used to decide what weights horses carry in handicap races.
Official Line
The line that the bookmaker uses for wagering purposes. The line which comes from Las Vegas is quite often referred to as the official line; however, the line that your bookie offers you is actually your "official line."
On
betting term for when a bet has been struck
On Course Betting
Betting at the race course.
On the bit/bridle
Horse being restrained from running all out (by pulling back on the reins and on the bit in its mouth)
On the nose
To win (that horses nose to be in front of the rest)
On the rail
Running close to the inside rail on a race track.
Open ditch
Steeplechase race with a ditch on the take-off side
Open race
A race where it is generally agreed that any one of several horses could win.
Out
A price moves out if the odds get longer.
Out of
"born to a mother called"
Outlaw Line
Term for the earliest line in sports betting. This is an overnight line which only a handful of players are allowed to bet into.
Outsider
A horse with a small chance in a race, as expressed by the offer of generous odds.
Over
the "over" is a sports bet in which the bettor guesses that the combined point total of two teams will be above a specified total.
Over-Round
In theory, using natural odds, a betting book can be fairly weighted between bookmaker and bettor. However bookmaker profit margins mean that they must alter the odds in their favour. Over-roundness is a means of expressing to what extent the odds are in favour of the bookmaker. An evenly weighted book based on natural odds is expressed as 100%, and the more the odds move in the bookmaker's favour the more that figure rises. Thus a book that is weighted 20% in favour of a bookmaker is expressed as 120% over-round.
Over/Under
A bet on whether the combined total of the points/goals scored by the two teams will exceed or be less than a specified number
Overlay
When the odds on a proposition are in favor of the bettor rather than the house
Overplay
An advantage for the bettor in which the price on a given wager is greater than the real probability of its success.
Overweight
When Jockeys riding weight (of jockey + tack) is above the minimum allowed by the handicapper.
Owner
Person who owns a horse (or share therein)