# Betting Terminology for Beginners

_A plain-English guide to the most common terms and jargon you'll encounter in horse racing betting._

*Source: [https://stablebet.co.uk/betting/beginners/terminology/](https://stablebet.co.uk/betting/beginners/terminology/) · last updated 2026-01-05*

Horse racing betting has its own language. Here are some of the most common terms in plain English.

## Odds and stakes

- **Odds:** The price offered on a horse; they reflect potential profit and implied probability. See [understanding odds](/betting/beginners/understanding-odds/).
- **Stake:** The amount you bet.
- **Return:** What you get back if you win (stake plus profit).
- **Evens:** Odds of 1/1 — you double your money if you win.

## Bet types

- **Win:** You are paid only if your horse finishes first.
- **Each-way:** A win bet plus a place bet; you can get a return if your horse places. See our [each-way guide](/betting/bet-types/each-way/).
- **Place:** You are paid if your horse finishes in one of the specified place positions (e.g. top 3 or 4).

## Other useful terms

- **SP (Starting Price):** The official odds when the race starts.
- **Ante-post:** Betting before the day of the race; odds can be better but non-runners may apply.
- **Accumulator:** A bet linking two or more selections; all must win for the bet to pay. See [accumulators](/betting/bet-types/accumulators/).

For more terms, use our [glossary](/ai-race-predictor/lab/glossary/). For the basics of betting, start with [how betting works](/betting/beginners/how-betting-works/).