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Glossary

Ante-Post Prices

Selective meetings and events whereby a customer places a bet during a period in advance of the date of a race, although not including the date itself. 

API

An API is an acronym for Application Programming Interface. An API is a set of routines, protocols, and tools for building web-enabled and mobile-based applications.

Betting Exchange

An exchange is a marketplace for customers to bet on the outcome of events, they offer the same opportunities to bet as a bookmaker but rely on customers to have their bet matched by another customer. Punters can buy and sell the outcome and are able trade in real-time throughout the event and trade out to cut losses or lock in profit - betting exchanges normally raise revenues by charging a transaction fee.

Board Prices 

This refers to the currently available odds displayed on the boards of on-course bookmakers. It is from these that the starting price id derived. 

ESL / eSports

ESL, originally Electronic Sports League, is an eSports company which organizes competitions world-wide. ESL is the largest video game event company in the world, based in Cologne, Germany, ESL has multiple international tv studios globally. ESL is the largest eSports company to broadcast on Twitch.

Fantasy Games

Work very well for rights holders, broadcasters and sponsors. In a perfect world these three would work in unison to deliver both a digital customer engagement and an effective retention and brand development tool.

Fixed-Odds Betting

Staking a set amount to win a set amount by multiplying the stake by the odds. As opposed to spread betting, where the amount that can be won or lost on a single bet may vary.

Greyhound Racing

Within the UK and Ireland Greyhound Races are made up of 6 dogs, within Australia the races include 8 dogs with numbers 9 & 10 as reserves. NSW at present are looking to ban Greyhound racing from July 2017 onwards.

Handicap Betting

Handicap betting is common practice in points-based sports with the aim of ensuring a more even contest from a betting perspective.

It is in effect when a sportsbook/ bookmaker turns a sporting event into as close to an even money contest, by giving a points advantage (or disadvantage) to each team or competitor. Asian Handicap or half ball handicaps ensure that there is always a winner and loser in the bet i.e. it is a Win Lose Betting Market.

Predictor

Either as a wall chart or otherwise, predictors can be used to enhance existing customer engagement or used as part of a customer acquisition strategy.

Spread Betting

A spread is a range of outcomes and the bet is whether the outcome will be above or below the spread. Spread betting has been a major growth market in recent years, Financial spread betting can carry a high level of risk if there is no stop or limit imposed by the player.

Starting Price

Often abbreviated to SP. The starting prices are the final odds prevailing at the time the race starts and are used to determine the payout to winning punters, unless a punter took a specified price at the time of placing the bet.

Tipping Products

Enable the organisations to offer its customers a simple week to week game that’s straight forward for them to interact with. The focus is on regular and active participation as such weekly incentives for prizes aims to retain traffic for clubs/ teams on a regular basis.

Tissue Prices

The betting forecast of how an on-course bookmaker thinks the betting on a race will open. 

Tote / PMU / Parimutuel / Pool (betting)

All the stakes on a particular bet are pooled, before a deduction is made to cover the running costs and contributing directly to racing. The remainder of the pool is divided by the number of winning units to give a dividend that is declared inclusive of the stake. Odds fluctuate according to the pattern of betting and betting ceases when the race starts.

Trading Services / Trading Solutions

The compilation and supply of odds for a range of markets including, early prices and derivative markets. Customers can also select as to whether to manage the risk themselves or share the liabilities, albeit at a greater cost, with a supplier or third party.

Virtual Racing and Gaming

Virtual Racing or Gaming events are fixed odds events whereby the prices never change.