Punters Glossary

Being a new-comer to punting i'd like to ask for some assistance from you astute punters out there. Sometimes references are made that i just don't quite understand. Much appreciated if anyone cares to explain.
* odds of 6/4 on = $2.50 - How's that determined?
* 5/1 the field in an open race - How's that determined & how can i use it bettin on the race?
* and when someone refers to the dam of a horse (i.e - out of the same dam as Augusta Proud) is the 'dam' similar to a 'litter' of pups?
Cheers!
* odds of 6/4 on = $2.50 - How's that determined?
* 5/1 the field in an open race - How's that determined & how can i use it bettin on the race?
* and when someone refers to the dam of a horse (i.e - out of the same dam as Augusta Proud) is the 'dam' similar to a 'litter' of pups?
Cheers!