A bet where the odds are greater than evens.

The opposite to odds on. An outcome is paying more than the initial stake. I.e. A runner paying greater then even money. ( Decimal odds of 2.0)

When the bookmaker's or totalisator's stake is greater than the investor's stake. For example, a horse that is quoted at 4-1 would be odds against, because if it wins a race, the bookmaker or totalisator returns $4 for every dollar an investor places on that horse, plus his or her original outlay.

The number of failures per success.