Betting odds shortening in price is at the discretion of the individual betting site.

There are numerous reasons why odds are shortened, and bookmakers may shorten them to ensure profitability on the outcome.

Some horse racing betting terms used for a selection shortening in price are “hot horse”, “steamer in the betting market” and “big gamble placed”.

Punters should always compare the bookmaker’s odds and place bets with the online bookies with the highest odds on offer.

In our Betting Odds Shortening guide, we explain what causes odds to shorten, provide examples and how to identify selection odds getting shorter.

What does shortening the odds mean?

Shortening the betting odds on something makes it more likely to happen.

When the odds in the betting market are shortening, the bookmakers are reducing the odds due to the higher volume of money wagered.

Shortening the odds is the same thing as “shorten”, which is a reduction in odds.

What causes the odds to shorten?

The causes of betting odds shortening are:

Plenty of bets are placed on the selection
A lot of money was wagered on the selection
A non-runner causes the remaining selections to shorten
New information coming to light
Ground conditions make an outcome more likely
A tipster has it as their NAP selection

The leading causes for the odds to shorten are the weight of money wagered. Money is an indicator obtained from a volume on a betting exchange and is used to determine whether or not the odds are likely to lengthen or shorten. If the volume is weighted toward backing, the price is expected to decline. Conversely, if the volume is weighted to lay, then the price is likely to lengthen.

Examples of Odds Shortening

Here are several examples of odds shortening in the betting ring:

A banker backed in from 4-6 odds into 2-5 odds
A favourite backed in from 3-1 odds into 2-1 odds
2nd fave backed in from 15-2 odds into 6-1 odds
A racehorse heavily backed in from 20-1 odds to 7-1 odds
An outsider backed in from 33-1 odds to 25-1 odds

How do you know if a selection is shortening in the betting market?

Odds comparison websites like oddschecker.com show all the runners and riders’ latest odds.

Check out the image showing the betting market of a race; any blue squares indicate that the selection is shortening in price.

The above picture shows all online bookmakers’ odds, with pink meaning the horse is drifting in the betting market and blue meaning the horse is shortening in odds.

Summary

Racehorses are said to be shortening, meaning the odds are getting smaller.

Many punters jump on the bandwagon as odds shorten, believing “money talks,” which can drive more bets on runners that are backed in.

Bettors regularly seek out steamers that are heavily backed, believing the money wagered speaks volumes and that they must be primed to win.

We strongly advise placing bets only with bookmakers offering BOG deals, which allow you to take the early price, and if your selection drifts in betting odds, you get paid on the higher SP (starting price).