Betting Glossary - Essential Betting Terms beginning with P

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Speed a race is run at
A horse which sets the pace running in front, sometimes by design to set a 'true pace' for a stablemate who needs a strongly run race to bring his stamina into play.
Area where horses can be viewed prior to race, where the jockeys & trainers meet with owners. Incorporates pre-parade ring, parade ring and winner's enclosure
Paddock Rail
rail surrounding paddock preventing public access
Parade Ring
see paddock
Another name for pool betting.
a bet with two or more teams in which all teams must win or cover for the bettor to win and receive higher payouts
Three selections in three different races, comprising three singles, three doubles and one treble. There are seven bets win and 14 bets each way.
Pattern race
Top quality (listed) race, divided into Grades 1, 2 & 3.
What you get back from the bookie - your winnings and returned stake.
Nodded (head nearly landed on ground) after jumping fence.
Perm Patent
4 Four selections in four different races, comprising an individual patent on each group of three selections It is 28 bets win and 56 bets each way.
Shortened form of permutations.
All the possible combinations of a number of selections. In other words this amounts to the total number of ways in which you can combine your selections. For four selections, 1,2,3,4 you can combine the horses as follows: one four-times win bet (1234), four win trebles (123, 124, 134, 234), six win doubles (12, 13, 14, 23, 24, 34) and four win singles 1, 2, 3 and 4. These permutations are used in bets such as Lucky 15, Lucky 31 and Lucky 63, Trixie, Yankee, Canadian, Heinz, Super Heinz and Goliath.
Photo Finish
A close race where the use of a photograph is required to determine the result.
Pick 'em
When neither team is favored. Also called a "pick" in sports betting terms.
Term describing when a horse jumps a fence in good style
The bookmakers' stand on a racecourse. Each bookmaker should advertise his minimum stake and maximum payout. They should also issue a print of the transaction when you place a bet.
For a horse race, you can bet on a win or a place. In large fields, the place may be 2nd, 3rd or 4th, in smaller fields, 2nd or 3rd. The odds are shorter for a place bet than a win bet.
Place Bets
In horse racing, a bet that a horse wins a race or comes in second or third (in some races fourth). in the game of craps, it is a type of bet where you gamble on a dice throw totalling a particular number coming up before the shooter makes a throw totalling seven.
Place Pool
The tote operates separate pools for win and place betting. A bet on the place pool earns a dividend if the horse is first, second or third (in some cases fourth).
If a horse comes first, second, third or fourth (but not necessarily all of them, the range depends on the size of the field), the selection is said to have been 'placed'.
A daily tote pool bet in which the punter must name a horse which finished 'placed' in each of the first six races on a nominated card.
Horse which commonly runs in selling races (selling plates)
Point to Point
Cross County Horse Race run between a sequence of obstacles marked by red flags.
Horse experienced in Point to Points
The pointspread - also called "the line" - is used as a margin to handicap the favorite team. The oddsmaker - also called the handicapper - "gives" points (or goals) to the underdog - for betting purposes only. The bettor must take either the favorite or the underdog. The favorite is always indicated by a minus sign (e.g. -8.5) and the underdog by a plus sign (e.g.+8.5). For betting purposes, the outcome of the game is determined by taking the actual game score and finding the difference between the scores of the two teams playing (called the pointspread or just the "spread").
Bookmakers' slang for £25.
The total amount of money to be distributed evenly between winners.
Pool Betting
Where all stake money after given deductions (e.g. for tax and operator's profit) is shared among the winners. Sometimes the prize pool is divided into several sub-pools with different categories of winner sharing in each pool. Examples of this form of betting are the tote, football pools and the National Lottery.
Pop out
Push a horse into a challenging position
A pole marking the start or finish of a race
Post Time
The Schedule starting time.
Practice Fence
A fence erected for the purpose of jumps practice
To bet a larger amount than usual
Sports betting term for the odds or point spread - see Odds.
Pricing Up
The bookmaker on the race course must mark prices against each horse on his board at least ten minutes before the official off-time of each race. The punter should price up each race himself with estimates of the odds he is prepared to take so that he can compare the prices for value.
Props (aka Exotics)
Propositions or exotic bets typically involve specific events within a game. For example, betting on the number of points a basketball player will score in a game or picking the scorer of the first goal or touchdown are props
Pull in the weights
Favourably weighted
Pulled Up
A horse that drops out of a race after the off.
To bet or a bet (as in "I had a punt on that one").
A person who gambles or lays a bet
The underdog
A tie between the bettor and the bookmaker that is the result of the score of an event falling exactly on the pointspread number
Push him out
Refers to when a jockey pushes hands backwards and forwards whilst riding a horse vigorously, normally to win at the end of a race