Definición
A bet on who wins an event outright from a field of many competitors, rather than a contest between two sides. A Grand Prix, a golf tournament and a horse race are all priced this way: every entrant carries its own price, and only one of them wins. Because the field is large, prices are long and the whole board typically adds up to well over 100%.
Términos relacionados
- Futures — A bet on a long-run outcome (champion, win total) settled weeks or months later.
- Overround — Every price on a board added together as implied probability. Above 100% is the book's margin — and a big field can run far above it.
- Fair Price / No-Vig Price — The market price once the bookmaker margin (vig) is stripped from both sides so they sum to 100%. The honest break-even line an edge is measured against.