Explanation of Favourite

Not used in the sense of “favourite flavour of ice-cream” but rather in the sense of being statistically likely to win. Favourite is a commonly used term both in poker and in other betting activities such a horse-racing. A certain horse might be described as “favourite” to win the race.

Example of Favourite used in a sentence -> I like to play the 40knl games when there is traffic, but I highly doubt I’m a favourite to win.

See Also 

Equity, Tournament, Kicker