Dictionary
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Jackpot
Term assigned various meanings in the gambling context. In a lottery it means the major prize. In horse racing it means the daily tote bet in which the punter must name the first six winners on a nominated race card.
Knock-Out
A horse that a punter eliminates from consideration for a race because of strong factors against its chance.Layers
Another name for bookmakers.Laying Off Bets
See Hedging.Live Betting
Betting on the outcomes of a sporting or other event where the probabilities or different outcomes can only be guessed at.Lucky 15
Four selections in four different races comprising, four singles, six doubles, four trebles and one fourfold. It is 15 bets win and 30 bets each way. If there are four winners a ten per cent bonus is paid, usually at starting price. If there is only one winner, double the starting price odds are paid. these bonuses and consolations apply only to the win part of the bet. So, if an each way lucky 5 has just one placed horse, double the odds is not paid on the placed selection. Similarly if one selection wins and one is a non-runner the consolation is not paid.Lucky 31
Five selections in five different races comprising five singles, ten doubles, ten trebles, and one fivefold. It is 31 bets win and 62 bets each way. The bonuses paid vary with different bookmakers. Some pay a bonus on four winners and five winners, others pay a bonus on only five winners. It is certainly worth shopping around to find the best offers. A consolation of double the starting price odds is paid for one winner.Lucky 63
Six selections in six different races comprising six singles, 15 doubles, 20 trebles, 15 fourfolds, six fivefolds and one sixfold. It is 63 bets win and 126 bets each way. Bonuses vary with different bookmakers. A ten per cent bonus is usually paid for five winners. For six winners the bonus is likely to be between 15 per cent and 25 per cent. A consolation of double starting price odds is paid for one winner.
