How to bet on Cheltenham Festival? Check out our basic introduction and betting tips

How to bet on horse racing

A win bet is a single bet on your selection to win and this is the most common wager.

What does each-way mean?

This is two bets, the first part a win bet, the second a place bet. So if your selection passes the post first you collect on both elements. If it is placed, you collect on the second part only. As this is two bets, your stake is doubled i.e. £1 each-way costs £2.

The basic each-way terms with the major bookmakers are below although most firms offer enhanced versions for the major meetings.

• Fewer than 5 runners: Win only
• 5-7 runners: 2 places at 1/4 odds
• 8-11 runners 3 places at 1/5 odds or 3 places at 1/5 odds
• 12-15 runners 3 places at 1/4 odds or 3 places at 1/5 odds
• 16 or more runners 4 places at 1/4 odds or 3 places at 1/5 odds

What is a Forecast?

You can place a straight forecast (1 bet) or reverse forecast (2 bets), selecting horses to finish first and second in a race. A combination is more than two selections (significantly more bets) and again the horses need to be first and second to trigger winnings.

What is a Tricast?

Same as above, but selections need to finish first, second and third. As a result, reverse tricasts aren’t available but combinations are.

Multiple bets

Below is a full list of what’s available. These are often used by punters to small stakes looking to increase their potential return.

• What is a Double? One bet covering two sections. If both of the selections win, your bet will be settled as a winner. You can have an each-way double which counts as two bets (as per the singles above).
• What is a Treble? A treble – three selections with the same rules as a double.
• What is a Accumulator? For more than three selections. Four-timers, five-timers, six-timers etc. all come under the umbrella of accumulator. Again all need to win for pay out – or all placed for each-way.

There are various other multiple bets available which are named. Details are below:

Three selections

• What is a Patent? 7 bets - 1 treble, 3 doubles, 3 singles
• What is a Trixie? 4 bets - 1 treble, 3 doubles

Four selections

• What is a Yankee? 11 bets - 1 accumulator, 4 trebles, 6 doubles
• What is a Lucky 15? 15 bets - 1 accumulator, 4 trebles, 6 double, 4 singles = 15 bets

Five selections

• What is a Canadian or Super Yankee? 26 bets - 1 accumulator, 5 four-folds, 10 trebles, 10 doubles = 26 bets
• What is a Lucky 31? 31 bets - 1 accumulator, 5 four-folds, 10 trebles, 10 doubles, 5 singles

Six selections

• What is a Heinz? 57 bets - 1 accumulator, 6 five-folds, 15 four-folds, 20 trebles, 15 doubles
• What is a Lucky 63? 63 bets - 1 accumulator, 6 five-folds, 15 four-folds, 20 trebles, 15 doubles, 6 singles

Seven selections

• What is a Super Heinz? 120 bets - 1 accumulator, 7 six-folds, 21 five-folds, 35 four-folds, 35 trebles, 21 doubles

Eight selections

• What is a Goliath? 247 bets - 1 accumulator, 8 seven-folds, 28 six-folds, 56 five-folds, 70 four-folds, 56 trebles, 28 doubles

What does SP mean in betting?

SP stands for 'Starting Price' and this is the official odds the industry returns after each race for each individual horse in that race.

If, when placing your bet, you don't 'take the price' on offer at the time, your bet will be settled at the Starting Price.

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Safer gambling

We are committed in our support of safer gambling. Recommended bets are advised to over-18s and we strongly encourage readers to wager only what they can afford to lose.

If you are concerned about your gambling, please call the National Gambling Helpline / GamCare on 0808 8020 133.

Further support and information can be found at begambleaware.org and gamblingtherapy.org.