A wide range of bets are now available . . .

There are lots of different types of bet that can now be placed on horse racing and some of the most popular are explained below:

Win

The "Win" bet is a very simple and straight-forward bet in which the punter gambles on a horse to win a race. If the horse loses the punter losses their stake but if the horse wins then the punter wins the total of the stake multiplied by the odds on offer.

For example, a £10 Win bet on a horse at odds of 8/1 involves a total stake of £10.

If the horse wins, the bet returns:

• £80 winnings (£10 x 8)
• The original £10 stake
• Total returns are £90

If the horse loses, the punter loses his £10 stake.

Each Way

The "Each Way" bet is really two bets combined: a "Win" bet and a "Place" bet on the same horse. This means that a £10 "Each Way" bet comprises a £10 win bet and a £10 place bet, creating a total stake of £20.

Normally, each way bets pay 1/4 the odds for a place finish.

For example, a £10 Each Way bet on a horse at odds of 8/1 involves a total stake of £20 (£10 win and £10 place).

If the horse win, the bet returns:

• £80 winnings from the Win bet (8 x £10)
• £20 winnings from the Place bet (1/4 x 8 x £10)
• The original full £20 stake
• Total returns are £120

If the horse places, the bet generates:

• £20 winnings from the Place bet (1/4 x 8 x £10)
• The original £10 Place bet
• A loss of the £10 Win bet
• Total returns are £30

If the does not win and does not place, then the total £20 stake is lost.

The selection needs to be placed as follows:

• Up to 4 runners in the race - no place betting
• 5 to 7 runners - 1st & 2nd
• 8+ runners - 1st, 2nd & 3rd
• 16+ runners handicap - 1st, 2nd, 3rd & 4th

These are the traditional terms for each way betting but bookmakers have introduced a number of innovation in this market over recent years and you should be able to get better terms if you shop around.

Ante Post

"Ante Post" betting is popular for major races and involves placing a bet on a horse well in advance of the race.

The benefit of placing this type of bet is that the odds offered are usually much greater than if placed nearer to the event. The risk of ante-post betting is that the stakes are lost if the horse does not run in the race.

Lay Betting

A "Lay" bet involves betting that a horse will not win a race. This type of betting has only been available to the general public since the introduction of the online betting exchanges.

With this type of bet, the punter acts as the bookmaker and loses if the horse wins the race. The punter is sucessful if the horse does not win the race.

More details about this is shown on the Lay Betting Explained page.

Double

A "Double" refers to a bet on two different races, win or each way.

The winnings from the selection in the first race are placed on the selection in the second race. Both selections need to be sucessful otherwise both bets lose.

Tote Placepot

The "Placepot" is very popular with people attending the races and looking for a fun bet.

The punter must select a horse to be placed in each of six "Placepot" races and if successful wins a share of the pool jackpot.

Tote Scoop6

The "Scoop6" bet has become increasingly popular with professional betting syndicates because of the large potential returns.

The bet involves selecting the winning horse in each of six nominated televised races held on a Saturday.