A form of expressing odds in a single
number (always greater than one) which represents
the gross receipt on a winning one unit wager. For
example, decimal odds of 3.0 means that if you wager
$1 you stand to profit $2.
Also known as European odds.
An unconventional bet, other than simply betting on winners and losers.
For example, bets on which chess opening will be played, or
on who will deliver the first check, are exotic bets, or simply "exotics."
Also called a proposition bet.
A form of expressing odds using two numbers, separated by a colon (:).
The number of the left is the potential profit if you wager the amount on
the left. For example, For example, odds of 5:1 (read "five to one")
means that for every one unit you stake, you stand to profit 5 units.
Also known as British odds.
The ChessBookie game is played in rounds called legs which last roughly
3 months each. Each leg has a champion, and the final leg of the year (the Winter Leg)
is the Championship Leg which declares the ChessBookie World Champion for the year.
For more information, see the ChessBookie Help Page.
A wager graded "no action" is a bet that is called off and
can neither win nor lose. This is only done in exceptional circumstances, such as a
cancelled event, or an incorrectly posted bet. All wagers graded "no action" are refunded and no juice is collected.
A system of cooperative wagering in which the
holders of winning tickets divide the total amount
of the money bet on an event,
after deductions (the juice) has been made.
The public itself determines the final odds on an event,
simply because if there are many winners, the payoff
will be divided among a large number of people.
A wager in which the
bettor must predict the first and second place winners,
in any order. For example, if you bet on the "Carlsen-Kramnik quinella"
you would win if Carlsen placed 1st and Kramnik came in 2nd, or if
Kramnik placed 1st and Carlsen came in 2nd.
Also see perfecta.
A strategy used for quinella and perfecta
betting where a number of tickets are purchased that include every possible position of
a certain contestant. For example, in a six player event you might bet on
the quinellas 1-2, 1-3, 1-4, 1-5, and 1-6, in which it would be said you are
"wheeling player 1."