A Beginners Guide To Betting Terminology Used In Horse Racing
Putting On Your First Ever Bet? Just A Beginner? Confused With All The Racing Jargon?
I'll take you for a quick walk through the main phrases and terminology you'll hear at the bookies, or on the race meeting on the tele. I will keep at as short and easy to understand as possible.
Win Only - Win Single
Win only, or a win single is simple enough betting terminology to understand. You get the winner, your horse comes first in the race, you win. Pay that man! Pay Grandma! Oh yes.
Beginners Note ➔ First past the post only counts, not second, third or fourth.
Place Only Betting
UK Bookmakers don't take place only bets anymore. Place betting is still out there, but it's only available on the Tote these days, based upon a pool betting system.
A placed horse is a mount that comes in second, third or fourth.
Beginners Note ➔ Fourth place only counts in handicap races with 16 runners or more.
Each Way Betting
Each way betting costs 2 stakes. One for the win portion of the bet, one for the place.
If your horse wins on an each way bet, you get the win and the place returns, dependent on the odds.
If your horse comes second, third or fourth, you receive 1/4 or 1/5th the odds of the winner, dependent on race type, as you can see below.
Each Way Odds Fractions
No each way available on races with 4 or fewer runners.
1/4 odds, first two places in race with 5 to 7 runners.
1/5 odds, first three places in a non-handicap races of 8 or more runners.
1/5 odds, first three places in a handicap races with 8 to 11 runners.
1/4 odds, first three places in a handicap race with 12 to 15 runners.
1/4 odds, first four places in a handicap race with 16 or more runners.
Forecast Betting
A forecast is betting the correct first and second horses in a race. Forecasts are accepted in races of 3 or more runners.
Winning forecasts are paid out on the official declared dividend to a £1.00 stake, worked out based upon on the prices of the first and second placed horses. The amount of runners in the race is also taken into account.
Punters from beginner to pro are forever trying to work out the exact formula. I think it is a closely guarded secret.
Tricast Betting
Tricast is first, second and third in any race where tricasts are allowed. Tricasts are only accepted in races where an official computer tricast dividend is available.
How much a tricast will pay is dependent on the prices of the horses involved. The bigger the odds, the more the tricast dividend will pay.
Starting Price (SP)
The starting price is the price returned for a horse or greyhound, worked out dependent on the available prices available trackside in hte betting ring.
Beginners Note ➔ The starting price is confirmed after the official race weigh in.
Favourite - Fav
The favourite is the horse, or horses, that return at the shortest starting price (SP).
You can get a favourite(fav), joint favourites(jf), ie 2 horses returning at the same price, or co-favourite(co fav), ie 3 or more horses returning at the same starting price.
Ante Post Betting
Ante post prices are taken on a horse or greyhound, or any other betting market such as football or politics, atleast 1 day before a race or event.
Beginners Note ➔ If your selection does not run, bets marked as "ante price" wagers are lost.
Rule 4 UK Betting Deductions
If a horse is withdrawn late from a race and no new market is formed, or you have taken a board price before the new market is formed, you will be deducted a percentage of your winnings dependent on the price of the horse at the time of it's withdrawal.
Such deductions are called "rule 4's". For every £1 you win, the deduction is enforced. See the odds chart below for deduction percentages.
Beginners Note ➔ Your stake has NO deduction, zero, only winning units get a rule 4.
Rule 4 UK Odds Deduction Table (In UK £s)
# Page Last Updated: Tues Nov 27, 2024
Labels: UK_Betting_Terminology
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