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Types of UK Horse Racing Bets
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New to Betting on Horses? Totally confused when it comes to Horse Racing Odds? If the answers yes to either simply take a look at our guide to Betting on Horse races below. We've put together a load of betting information that should help you understand about all of the different types of Horse Racing Bets that are available from Grand National Bookmakers and also explain how Horse Racing Betting Odds work so you don't get caught out. Don't forget, as well as taking advantage of all the Free Grand National Bets that the Bookmakers offer new punters, why not run a Grand National Sweepstake at your place of work or down your local pub. Download our Free Grand National Sweepstake Kit to get involved.

Horse Racing Bet – The Win:
A win is where you select a horse to win, it can also be referred to as ‘on the nose’.

Horse Racing Bet – The Place:
With this type of bet even if your horse doesn’t win, you're still in with a chance. You can select a horse to be placed, this means your horse needs to finish either 1st, 2nd or 3rd. For races with 5-7 horses, your horse needs to finish 1st or 2nd. For a race with only 1-4 horses, there is no place betting. In a handicap race with 16 or more horses running, your horse can finish 1st, 2nd, 3rd or 4th. Remember though, the place odds will be a fraction of the win price. This is normally a quarter or a fifth of the odds quoted.

Horse Racing Bet – The Each Way Bet:
An each-way bet is basically two bets, one bet on a win and one bet on a place. This doubles your chances, so if your horse wins the race you get the return back from both bets, but if your horse is placed (2nd, 3rd, 4th) then you only receive the return from your place bet. If you place a bet of £5 each-way bet then the cost would be £10, £5 for the horse to win and £5 for the horse to place. Therefore, if you horse won at odds of 4-1, you would get £20 plus your £5 stake back for the win and £5 (a quarter of the odds) plus your £5 stake back for the place bet.

Horse Racing Bet – Straight Forecast:
The straight forecast bet means that you have to select the 1st and 2nd placed horses in the exact order. This bet is valid with three or more horses running. This bet has also been referred to as an Exacta bet

Horse Racing Bet – The Place Pot:
In the first six races of a meet, you have to select a horse to be placed in each one. It requires you to complete a place pot-betting coupon to place a bet. Remember, the more horses you choose in a race, the more the bet will cost.

Guide to Horse Racing Betting Odds
Sometimes referred to as the price, odds are used to show the estimated probability of a horse winning a race. Whatever this probability is, this is what the Bookmaker will lay his bets on. Odds aren’t this straightforward though. To understand Horse Racing Betting Odds means that you must be aware that prices can be odds against, even money or odds on.

When it’s likely your horse will win the race, odds are against. This is where the Bookmaker will offer a return of your bet, which is more than double the amount staked for a winning bet. For example, if you stake £5, a winning bet at 2/1 (pronounced two-to-one) will return £10 plus your original £5, making £15.

The evens bet is just that - even. The bookmaker will offer you a return which is double the amount staked for a win bet, so if your stake is £5, then you will get £10 back. If your horse is expected to win, odds on is what the Bookmaker will offer. The return could be half the amount staked for your bet. So, if your £5 bet wins at 1/2 (two-to-one on) you get £2.50 back, plus your stake, making you £7.50.

Sometimes, people refer to odds as long or short. This is replacement of the odds being fractionalised. Odds that are long, for example 100/1 (hundred-to-one), show that the horse is unlikely to win the race, while short odds like 2/1 (two-to-one) mean the horse has a great chance to win, and the returns on your horse racing betting chances are therefore a lot lower.

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