Betting Glossary - Essential Betting Terms beginning with U

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Under
An under is a wager in which the bettor guesses that the total points scored by two teams will be under a certain figure.
Under starters orders
Period at the start of the race between that the horses & their jockeys are called into line and the time that the stater urges them to start
Underdog
The team perceived to be most likely to lose. Also known as the "dog" .
Underlay
When the odds on a proposition are in favor of the house
Undulating Track
An uneven track with many uphill/downhill slopes
Unsaddling Enclosure
Course area where horses have tack removed.