Today horse race betting is a popular past time all over the world and millions are wagered on some races. Even so some people do not understand some of the betting terms used so in this tip shall explain some of the more common ones.

Win Only- This is a straight forward bet on a selected horse to win the race.

Each Way – Sometimes called win and place. It is in fact two bets the first on the horse winning the race and the second on it achieving a place. The price that you get for a placed is a fraction of the odds that you would get for the horse winning. For instance if the horse was priced at 5/1 and you backed it each way for £10. That would be £10 to win and £10 a place. If it came second in an 8 runner race you would receive I/5th the odds i.e. 1/1 which would mean that the each way portion of the bet would pay you £10 + £10 = £20. However you would have lost the £10 you bet on it winning so on this bet you would just break even. In races with 5 runners or les you cannot have an each way bet, with 6 or 7 runners you can only back horses to finish 1st or 2nd and the each odds are ¼.In races of 8 runners or more you get 1/5th the odds for the first three. In 12 to 15 runner handicap races the first 3 are at ¼ odds and in 16 or more runners it is ¼ the first four horses home.

There are also other term used such as Double, Treble and Accumulator. A double is where you select two horses in different races and if they both win you receive the accumulative odds for both horses. If only one horse wins you get nothing. A treble is similar except there are 3 horses selected and again to collect all three horses have to win.

An accumulator bet is normally any number of selections between 4 and 6. If your first horse wins the money rolls on to the second horse and so on until either one of your horses lose or all the selections win. In the latter case you can win a great deal of money but it is rare for a 6 horse accumulator to win and when they do the bookies get a great deal of publicity from it. Doubles, trebles and accumulators can also be each way bets but this will cost you double the stake.