Become an expert in no time at all . . .

Many people are put off horse racing because they don't understand how betting works, even though it is very simple.

But with a little explanation that doesn't need to be the case.

Once you begin to get past the jargon, racing can be a fun and very rewarding experience.

And the more you know, the more you will enjoy your racing and boost your profitability.

Here we explore some of the basics with a beginner's guide to help you enjoy your betting:

Where To Bet

There are a number of options when deciding where to place a bet: at a bookmakers, online or at a racecourse.

Bookmakers accept bets at their high street shops or by telephone account. In the past, bookmakers were seedy, smoke-filled places but they have undergone a dramatic transformation and are now clean and inviting. The shops offer plenty of friendly advice for beginners and are a convenient place to strike a bet.

A telephone account with a bookmaker allows greater flexibility whereby the account holder simply registers with the firm and then can place bets by debit card over the phone.

Bookmakers now also offer internet accounts. Placing a bet over the internet is quick and easy and many bookmakers ofer great new account opening incentives such as free bets.

Betting online also offers a number of other advantages such as using the betting exchanges to bet on horses to win or not win (lay betting).

Of course, you can also place a bet at the racecourse where you will find lots of traditional bookmakers and the Tote, which offers pool betting at racecourses across the country.

Stake

The "stake" is the amount of money you to choose to gamble on your bet.

Should your selection lose, you will lose your stake amount.

If you selection wins, then your return (winnings) will be the toatl of your stake multiplied by the odds at which your bet was struck.

The Odds

The odd (or price) refers to the chances of your selection winning and are used to calculate returns if your bet is successful.

Odds are normally expressed as a fraction but can also be shown as a decimal (on the betting exchanges or pool betting).

If the odds are shown as 2/1 then the bet pays two units for every one unit staked if successful. So if you bet £10 and the odds are 2/1 then a successful bet will return £20 winnings plus the return of your £10 stake.

Similarly, £10 bet on a successful wager at 8/1 would return £80 profits plus your original £10 stake.

In decimal odds, 2/1 would be expressed as 3 and 8/1 would be expressed as 7 (the number refers to the total amount returned included both the original stake and the profits made).

Type Of Bet

In the above examples, we have assumed that the bet placed has been a simple "Win" bet but there are many different types of bet.

The most popular bets are "Win", "Each Way" and "Ante-Post" bets and these, together with other bet varieties, are explained on the Types of Bets page.