Betting Glossary P

Pari-Mutuel Wagering
A term taken from the French language that means "betting among ourselves". In practice, it amounts to making wagers in which winnings are taken from the total amount of money in play. Pari-Mutuel wagering ensures that the player cannot wager against the track, but only against the other players.
Parlay
A combination or multiple wager on two or more teams or horses. In order for the player to win a parlay, all of his selections must win in each game. If the game results in a tie, or is postponed or cancelled, the parlay is automatically reduced by one selection.
Past Performance
An accurate record of the performance of specific teams, horses or contestants when participating in sports events similar to those scheduled.
Past Post
A wager made after an event has begun.
Pat Hand (Blackjack)
A hand of 17 or higher.
Penny Line
A money line which is adjusted in increments of one cent at a time.
Perfecta
A wager on two thoroughbreds, in a single designated race, to finish first and second in a specific order. Also see, Exacta and Straight Forecast (UK).
PGA
An acronym for Professional Golfers' Association.
Photo Finish
When a camera is used to accurately determine the winner of a very close race.
Pick'em Game
A game where no team is favored. The player takes a pick and lays 11 to 10.
Pick Six
A combination wager on the six winners of six consecutive races.
Pick Three
A combination wager on the three winners of three consecutive races.
Place
A wager that a specific dog or horse will finish in first or second place, i.e., if the player's selection crosses in first or second place, he collects.
Point Spread
A margin, in points or goals, given to an underdog taking part in an event, usually to give the underdog a head start. It is the predicted scoring differential between the contestants or teams concerned.
Post
A horses box or post position number. The horse’s number always corresponds to the number of his starting box. The term also is used to identify the exact time the horse breaks from the starting box.
Post Time
The time the race begins.
Post Up (Player)
A sportsbook customer who has deposited money with the house in the form of an active account and plays with that balance.
Press
To wager a greater amount than usual.
Pressing
Wagering winnings along with the original bet. A player is pressing a bet when he lets winnings ride.
Price
The money line, odds or point spread on the favorite in a sports event. Also the pot odds a player gets in poker on a draw or call.
Probability
A branch of mathematics measuring the likelihood an event will occur. Probabilities are expressed as numbers between zero and one. The probability of an impossible event is zero, while an event that is certain to occur has a probability of one.
Program (Racing)
A printed guide to the day's races including detailed data to assist players to handicap the races.
Proposition Bet
A wager on a specific aspect of an event such as the number of field goals, free throws, etc., that will be made during a game.
Provider
A polite term for a player who makes the game profitable for other players at the table.
Puck Line
A wager on ice hockey that combines both a handicap/spread and odds.
Puck
Slang term for the game of ice hockey. Also, the disc-like object in ice hockey with which players try to score goals.
Push
A tie hand between a book and a player where no money changes hands because the final score of a game is exactly the same as the point spread or total points (combined scores of both teams).
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