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Each Way
This describes a transaction that is effectively two bets in which equal stakes are laid 1) on the selection coming first, and 2) the selection being placed, i.e. coming second, third or fourth, depending on the race. When the punter asks for, say, "10 each way" this is actually two bets, at ten pound stakes each, and the bookmaker would ask for a twenty pound deposit.
Each Way Chance
A horse which has a good chance of winning or finishing in second or third place in a race. Because it's not considered to be a sure thing, punters will back an each way chance for a win and a place, which means they will get a return if it finishes in the top three.
The price of 6/4.
The practical hold percentage
East Coast Line
Mainly used in hockey, which has a split-goal line e.g. - NY Rangers (1 - 1 1/2) favorite over the Vancouver Canucks as opposed to goal spread plus money line (-1/2 -180)
Emirates Cricket Board
An advantage that one believes might improve one's ability to predict the outcome of a game.
The price of 9-1
Equal Favourite
A horse which is as popular as another runner in a race, which is deemed to have an equal chance of winning. Naturally, as equal favourites, they will be quoted at the same odds.
Even Money
When the bookmaker's or totalisator's stake is equal to the investor's stake. For example a winning $1 bet on a horse that is quoted at 1-1 or even money, would give the investor $1, plus his or her original dollar, making a total return of $2 for the $1 outlay.
A payoff of 1-1.
Any wager other than a straight bet or parlay (also referred to as a proposition or prop)
Exotic Bet
Action other than a straight bet or parlay.
Exotic Wager
Any bet other than a straight bet, i.e., parlays, teasers, if bets, reverses, round robin, round robin box reverses, etc.
The amount of money one actually stands to lose on a game or race.
The amount of money the house theoretically stands to lose on a game or race.
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