The 'betting without' market (often shortened to betting W/O) gives you the opportunity to bet on the winner of an event where it occurs hypothetically without a specified selection (usually the favourite).
Horse racing betting without example
1. Epona 13/8 fav
2. Pendleton 2/1
3. Sarvi 4/1
4. Bay Watch 4/1
If you’d bet on Pendleton in a 'betting without the favourite' market, your bet would be a winner as Pendleton beat the rest of the field without Epona (the favourite).
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