11 Terms
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Horse racing
Also called equestrian sport. There are three types of horse racing: flat field racing; steeplechasing or racing over jumps; and harness racing, where horses trot or pace while pulling a driver in a small cart known as a sulky. Horse racing is closely associated with gambling generating a worldwide market of well over U.S. $100 billion.
Industry: Sports
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Horse racing
back marker
Sports; Horse racing
In a standing start event, which is handicapped, the horse who is given the biggest handicap is known as the backmarker.
backed-in
Sports; Horse racing
A horse which is backed-in means that bettors have outlaid a lot of money on that horse, with the result being a decrease in the odds offered.
arbitrage
Sports; Horse racing
Where a variation in odds available allows a punter to back both sides and guarantee a win.
approximates
Sports; Horse racing
The approximate price a horse is quoted at before a race begins. Bookmakers use these approximates as a guide to set their boards.
