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Objection
Complaint by one jockey against another regarding breach of rules during a race
  
Oca
Olympic Council of Asia.
  
Odds
Chances of winning expressed in dollar (monetary) terms. Dividends displayed in dollar terms are inclusive of the unit of outlay. Odds can also be expressed in fractional terms showing the ratio of Win to Stake. Example: The New Zealand All Blacks to win the Rugby World Cup shows a dividend of $5. In fractional terms they would be quoted at 4/1 - for a stake (bet) of 1 unit you win 4 units for a total return of 5 units.
  
Odds (All Odds against)
Percentage/Probability
  
Odds against
When the bookmaker's or totalisator's stake is greater than the investor's stake. For example, a horse that is quoted at 4-1 would be odds against, because if it wins a race, the bookmaker or totalisator returns $4 for every dollar an investor places on that horse, plus his or her original outlay.
  
Odds against-Odds on
Represent the chances of any particular horse as quoted by the bookmakers. If a horse is quoted at 6/1 against its chance is 1 in 7, if it is 6 to 1 on, the chances of success are 6 in 7.
  
Odds Assessor
Bookmaker.
  
Odds Compiler
The person working for the bookmaker who sets the odds following research and his own feelings.
  
Odds Layer
The person working for a bookmaker who sets the odds. The odds layer is usually an expert on one or two sports and concentrates entirely on setting the odds for those sports.
  
Odds on
When the resulting dividend will be less than an investor's stake, meaning the bookmaker or totalisator returns a smaller stake. For example, placing a winning $1 bet on a horse that is 2-1 on would give the investor 50 cents plus his or her original dollar, making a total return of $1.50 for the $1 outlay.
  
Odds on Favorite
A horse, team or individual so favored by the public that the odds are less than even.
  
Odds-against
Describes the odds when the amount you receive for a winning bet, not including your returned stake, is more than the amount you staked.
  
Odds-Maker
A person who sets the line.
  
Odds-on
Describes the odds when the amount you receive for a winning bet, not including your returned stake, is less than the amount you stake. For example you stake £1 at 8/13 (13/8 on) and receive £1.62, made up of your £1 stake and 62p winnings.
  
Odds-on Favorite
A team or athlete so heavily favored that the odds are less than even
  
Oddsmaker
A person who sets the line.
  
Off
Term meaning that bets are not working.
  
Off Lines
The difference of amount the Las Vegas pointspread has compared with the computerized mathematical line.
  
Off the Board
Term used to signify that the bookmaker is not accepting bets on a particular event.
  
Off the Boards
A situation in which bookmakers will accept no further action.
  
Off the Map
A horse which has been sensationally backed is referred to as being backed off the map. This means numerous investors have placed substantial bets on that particular horse, resulting in a dramatic decrease in odds.
  
Off-Course
Away from the racecourse or event. This covers bookmakers operating retail outlets, telephone and internet services.
  
Off-Shore
Bookmakers who are based outside the UK. There are three types of off-shore bookmakers - firstly, those that are the off-shore site run by an existing British bookmaker; secondly, those that are existing off-course bookmakers in another country, often Ireland; and the third type are internet and/or telephone bookmakers set up specifically to conduct off-shore business.
  
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". Many smart bettors like to know the Las Vegas official line so that they can compare to their local bookies in order to determine how badly they are being "faded".
  
On Course Tote
The totalisator which is situated at the track itself and utilises monies bet on course.
  
On Tilt
Losing the ability to rationalise bets and betting wildly on every race.
  
On-Course
At the racecourse or event.
  
One-Roll Bets
Wagers that will win or lose depending on the next roll of the dice.
  
Opening Line
The initial list of point spreads for upcoming games.
  
Out
Bookmaker usually refers to an illegal bookmaker.
  
Outlaw Line
An early line which is not an official line. Quite often line makers allow specially selected bettors to wager into the "outlaw line" before entering the line to the public. The line makers respect these individuals and use their input to create a final opening number. This process is also called "ironing" or "flattening" the line.
  
Outlay
The money an investor bets or wagers is called their outlay.
  
Outsider
A horse whose chances of winning a race are not considered to be very strong. An outsider is usually quoted at the highest odds.
  
Over
A sports bet in which the bettor guesses that the combined point total of two teams will be above a specified total.
  
Over & Under
A wager for the total score by both teams will more or less than the total posted by the sports book.
  
Over / Under
A wager that the total score by both teams will be more or less than the total posted by the sports book.
  
Over / Under the Total
Betting that the combined score of two teams in a particular game will be over/under a predicted number.
  
Over/Under
A type of bet in which the punter bets on whether the total combined points, runs, goals, etc will be more or less than a number chosen by the bookmaker.
  
Over/Under the Total
Betting that the combined score of two teams in a particular game will be over/under a predicted number.
  
Overlay
An advantage for the bettor in which the price on a given wager is greater than the real probability of its success.
  
Overplay
An advantage for the bettor in which the price on a given wager is greater than the real probability of its success.
  
Overround and Overbroke
Adding up the probabilities as shown by the odds of all the participants in an event for a particular bookmaker gives a percentage. While mathematically the total probabilities of all participants in an event must be 100% (one participant - and only one - can win) bookmakerís total percentages are set to add up to over 100% because itís the amount over 100% that represents the bookmakerís profit. A book with a total percentage over 100 is called overround. A book that adds up to less than 100% is called overbroke which means that a punter could back all the participants and know that the total of their lost stakes will be less than their winnings (a good, if rare, thing).
  
Overtime
The continuance of a contest that is tied at the end of regulation time until a winner is determined or the maximum number of overtime periods have expired.
  
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