Glossary of Australian and New Zealand Punting - O

O

• Oaks: A stakes event for three-year-old fillies.
• Odds against: Odds which are longer than evens (e.g. 2-1). At present Australian odds are expressed as a $ figure: 2-1 is now shown as $3 (2-1 plus the $1 stake).
• Odds on: Odds which are shorter than evens (e.g. 1-2 or 2-1 on). Or $1.50, using the above example in Odds Against.
• Odds on look on: An old adage used by punters in which the decision is made not to bet on a race in which the favourite is at odds on.
• Off side: The right hand side of a horse.
• On course tote: The totalisator which is situated at the race course.
• On the bit: When a horse is eager to run.
• On the nod: A betting transaction between a punter and bookmaker without money changing hands. A credit bet.
• On the nose: A bet placed on the win only
• One large: A term used for one thousand dollars.
• Ordinary cattle: A derogatory term for a low class field of runners.
• Outlay: The money an investor bets or wagers is called their outlay.
• Outsider: A horse whose chances of winning a race are not considered very strong. An outsider is usually quoted at the highest odds.
• Overs: Odds about a horse which are considered to be good value because they are longer than its estimated probability of winning.
• Overweight: Excess weight carried by a horse when the rider cannot make the allocated weight, including apprentice allowances.