Sports Betting Glossary - O

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Odds - Also the line, or the price. The figure by which you multiply your stake to calculate your potential winnings.

Oddsmaker - The person who establishes the odds.

Odds-on - Refers to a price where you have to stake more than the amount you expect to make as profit.

Odds-against - When the amount you win is more than your stake.

Outright - The price to come first in a Tournament, as opposed to winning a place.

Over-Round - In theory, using natural odds, a betting book can be fairly weighted between bookmaker and bettor. However bookmaker profit margins mean that they must alter the odds in their favour. Over-roundness is a means of expressing to what extent the odds are in favour of the bookmaker. An evenly weighted book based on natural odds is expressed as 100%, and the more the odds move in the bookmaker's favour the more that figure rises. Thus a book that is weighted 20% in favour of a bookmaker is expressed as 120% over-round.