I think the shouting - as well as the called-out result suggested by D above - is the clamour raised by the supporters of the winning team/horse or whatever. Let's say Bournemouth is two up against Chelsea and there's only a minute of the match left...yeah, I know!...the locals realisethe Cherries have won, that it is "all over" really. However, they remain almost silent until the final whistle goes and then they shout their appreciation. In that last minute it is "all over bar (ie except) the shouting".