Odds & margin
- UKFavourite
- USFavorite
Favourite
The side the market expects to win, so the one with the shortest price.
Also called Chalk, Jolly
Example Favourite at 1.40, outsider at 7.00.
- Good to know
- Americans also call the favourite ‘the chalk’; in British racing it is ‘the jolly’.
Related
Odds & margin
Underdog
The side the market rates least likely to win, so the one with the longest price.
Odds & margin
Odds-on
A price shorter than evens: the profit is smaller than the stake, because the outcome is seen as more likely than not.
Slang
Steam
A fast, sharp drop in a price across bookmakers, usually because large or well-informed money came in.
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