chalk
n.— «Chalk: Years ago—before computers, if you can imagine—bets were recorded on a large chalkboard. The favorites would get the most checks and thus the most chalk, making picking the chalk the term for picking the favorite. This, however, is nothing to be proud of. No one brags about picking the winner when the chalk comes home—which happens about a third of the time.» —“The lingo” Star-Ledger (New Jersey) Aug. 4, 2005. (source: Double-Tongued Dictionary)
Further reading
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