How to bet is nice and simple once you know what you are doing here we will show you that. We will show you everything you need to know when placing your first bet. The language and terminology of betting can be confusing to the beginner, and there are many quite complicated bets and systems. But it is quite possible (and is recommended for the newbie punter) to start very simply with one of the three basic types of bets, which are Win, Place and Each Way.
The Win bet
A Win bet (‘on the nose’) is placed on a single horse, team or competitor and pays out the quoted odds only if your selection wins or comes first.
The Place bet
The Place bet pays out if your selection doesn’t win but comes in the placings. Places such as first, second or third depending on the number of runners in the race. Races of 5 to 7 runners may pay out on only first and second places, and 8 runners or more payout on the first 3 places. Big events may payout up to 4 places such as the Grand National. Place odds are usually a fixed proportion of the horse’s quoted winning odds.
The Each Way bet
This is a combination of a Win bet and a Place bet on the same horse, so will double your stake. A £3 wager will cost you £6 (£3 to Win and £3 for the Place bet). If your selection comes in second it usually pays one-quarter of the odds it would have paid if it won.
Some bookmakers pay one-fifth or one-sixth of the quoted odds. Because of that, you may not make a profit if your horse is placed, particularly if it carries small or ‘short’ odds. Each way bets are usually reserved for horses with longer odds so that if it is placed, you are more likely to make a profit.
Why not check out our free horse racing tips for some great bets.