Jargon Buster: Your guide to the key horse racing betting terms

This horse racing betting guide will be all you need ahead of the Grand National and beyond.

Horse racing betting can seem complex and daunting given the amount of coverage and statistical detail involved. However, that couldn’t be further from reality. Once you get to know the basics of horse racing betting terms, it couldn’t be simpler.

Horse racing betting terms explained

Win and Each Way

When you bet on a horse race you can either back a horse to win, which, simply put, means if the horse wins so do you, and similarly if it loses so do you. Or you can back it Each Way (EW). If you back it EW then half of your bet, otherwise known as your stake, will be on the horse to win and the other half will be on the horse to place. To place, your horse will usually need to finish in the top-three but the number of places can vary according to the number of horses in the race. If your horse does place then you will be rewarded with a winning bet of half your stake at 1/4 or 1/5 of the odds, but don’t worry, odds will be covered later.

Accumulator

A bet involving more than one selection with the winnings from each selection going on to the next selection. All selections in an accumulator must be successful to get a return.

A beginners’ guide to horse racing accumulators

Canadian

A Canadian consists of 26 bets involving 5 selections in different events. The bet includes 10 doubles, 10 trebles, 5 four-folds plus an accumulator. A minimum of two must win to guarantee a return.

Forecast

A bet where the aim is to predict both the winner and runner-up in a race. A straight forecast is the winner and runner-up in the correct order, a reverse forecast is the two selections coming first and second in any order.

Lucky 15

A bet consisting of 15 bets involving 4 selections in different events. The bet includes 4 singles, 6 doubles, 4 trebles, and 1 four-fold. Only one selection must win for a guaranteed return.

Trixie

A bet consisting of 4 bets involving 3 selections. The bet includes 3 doubles and a treble. A minimum of two selections must be successful to get a return.

Understanding odds is important in ensuring you pick the right horse for the race

Betting odds

Otherwise known as a price, the chances of a horse’s success are reflected in numerical form devised by the bookmaker – horse racing betting odds. This is the first thing to be aware of before putting your money down. Using the Grand National as an example, the current favourite is 9/1, meaning if you staked the number on the right-hand side (1) you will receive the number on the left-hand side (9) plus your stake to make a total return of 10. Meaning a £5 bet on Delta Work would return £50 if it was victorious. This principal can apply to all odds you see, such as a £1 bet on a horse at 33/1, if victorious, would return £34. However, if the odds were displayed as SP when your bet was struck, your return can vary.

Starting price

What does SP mean in horse racing? If you place a bet and don’t take the specified odds at the time, then your winnings will be determined by the horse’s SP or Starting Price. The SP are the selections’ final prevailing odds at the time the race starts. For example, a horse may have odds of 10/1 a hour before the race, but when the race starts they may only be 4/1. If you had a £1 bet at SP then your winnings would be £5.

Favourite

The shortest priced horse in the race, the market leader, and normally the starting point for most backers.

Market mover

A market mover is a selection that changes in price significantly in either direction, by increasing in odds (drifting) or decreasing in odds (shortening). It can sometimes be profitable to follow horses that shorten up before the off.

Betting calculator

A horse racing betting calculator enables you to check your potential winnings. All you need to do is input your bet information such as the odds, stake, and bet type and the easy-to-use calculator will formulate any returns you may have won. This tool can be particularly useful when trying to work out returns from multiple bets such as Trixies and Yankees.

Betting tips

Horse racing betting tips are selections people have made that they feel have a better chance of winning than their odds suggest. These can come from industry insiders, form followers, or just someone that thinks they may have found the missing piece of the puzzle. Tipsters will often describe their best tip as a NAP which is their best bet of the day.

Betting online

An increasing amount of horse racing betting now takes place online as people no longer need to go to the racecourse or to the high street to place a bet. Horse racing betting online is simple to do and can be a good alternative if you are unable to visit the bookmakers or the racecourse.