Horse Race Betting

A basic guide to betting on the horses

Stake

Your stake is the amount of money you want to bet.

Odds

The odds are the probability of the horse winning the race

Odds against

Is when a bookmaker will offer a return on your bet of more then double you stake. For example if you placed a bet of £5 with the odds at 2/1, the bookmaker will pay up £10 plus the original stake of £5 making a total of £15.

Evens

The bookmaker will pay out double the amount placed. For example on a stake of £1 the bookmaker will pay out £1 plus your original stake of a £1 making a total of £2.

Odds on

Is when the bookmaker offers a return on you bet which is less then double the amount of your stake. For example a bet of £2 at 1/2 will return £1 plus the amount you placed making a total of £3.

Long Odds and Short Oddds

Long Odds indicates that a horse is very unlikely to win the race. Short Odds means that a horse has a good chance of winning the race.

Types of bets

Straight bet, Single or Win bet.

The most common bet. You bet on the horse you thinks going to win the race.

Place

If your chosen horse comes in either first or second you collect.

Show

Is the third horse across the finish line. A wager to show means that if your chosen horse finishes first, second or third then you collect

Combination Bet

This is from two to four horses winning in a chosen order.

Pick 3

The winners of three consecutive races need to be chosen.

Pick 6

Similar to Pick 3 but must pick winners of six consecutive races need to be chosen.

Quiniela or Reverse Forecast (UK)

You bet on two horses to finish first and second in either order.

Perfecta, Exacta or Straight Forecast (UK)

You bet on two horses but the exact order must be chosen

Trifecta, Tricast or Treble Forecast (UK)

You bet on three horses to cross the finish line in a chosen order.

Superfecta

You bet on four horses to cross the finish line in a chosen order

Daily Double

You select the winners of the first and second races of the day. The bets must be placed before the start of the first race.