Betting Terminology for Beginners

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.
• 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.
• 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. For more terms, use our glossary. For the basics of betting, start with how betting works.