O 
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 against 

When the bookmaker's or totalisator's stake is greater than the investor's stake. For example, a horse that is quoted at 41 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 againstOdds 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 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 21 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. 

Oddsagainst 

Describes the odds when the amount you receive for a winning bet, not including your returned stake, is more than the amount you staked. 


Oddson 

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. 

Oddson Favorite 

A team or athlete so heavily favored that the odds are less than even 


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. 

OffCourse 

Away from the racecourse or event. This covers bookmakers operating retail outlets, telephone and internet services. 

OffShore 

Bookmakers who are based outside the UK. There are three types of offshore bookmakers  firstly, those that are the offshore site run by an existing British bookmaker; secondly, those that are existing offcourse bookmakers in another country, often Ireland; and the third type are internet and/or telephone bookmakers set up specifically to conduct offshore 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. 


OneRoll 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) bookmaker’s total percentages are set to add up to over 100% because it’s the amount over 100% that represents the bookmaker’s 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. 
