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Horse Racing Betting Terms Explained

It is important before placing a bet that you get to grips with horse racing betting terms. While the vocabulary used by those familiar with betting terminology may be difficult to understand at times, we are here to help you decipher the weird and wonderful world of betting jargon.

The most common betting terms are explained below. You may also find our horse racing terminology, types of bets and how to bet pages useful.

A

Accumulator

A bet on more than four horses. The winnings from one selection rolls on to the next.

Ante post

Betting on a horse in advance of the declarations.

B

Back

To bet on a horse.

Banker

A horse considered to have a very good chance of winning.

Betting Exchange

Punters bet against each other rather than against the bookmaker. Betfair is the most famous betting exchange.

Betting In Running

Betting on horses during the live race.

Bookie

Casual term used for ‘bookmaker’.

C

Canadian

Fancy five horses in different races? The Canadian is a multiple bet comprising 26 bets in total - 10 doubles, 10 trebles, 5 fourfolds and a fivefold.

Cash out

Taking a payout before a bet has been completed - offered by the bookmaker.

D

Dividend

The returns you receive from a bet to a €1 level stake. This term is most synonymous with the Tote.

Double

A multiple bet comprising two selections in two different races - both horses must win to yield a return.

Drift

When a horse’s odds lengthen before the race.

Dutch

Placing a bet on two or more horses in a race at shorter odds.

E

Each-way

Placing a bet on a horse to win and place. Half of the bet is to win and half the bet is to be placed.

Evens

A bet placed at 1-1. If you place a bet of €5, your return will be €5 plus your stake.

F

Favourite

The shortest-priced horse in a race.

Fold

The fold is the number of selections in one accumulator. If you choose four horses, it is known as a ‘fourfold’ bet.

G

Goliath

The Goliath places a mammoth 247 bets on eight horses in eight different races. It comprises 28 doubles, 56 trebles, 70 fourfolds, 56 fivefolds, 28 sixfolds, 8 sevenfolds and an eightfold accumulator.

H

Heinz

This bet is made up of 57 bets placed on six different horses. It consists of 15 doubles, 20 trebles, 15 fourfolds, 6 fivefolds and a sixfold accumulator.

I

In Running

A bet placed during the live race.

In the frame

A horse that finishes in the places.

J

Joint favourite

Two horses that have the same odds at the top of the market.

Jolly

A slang word for the favourite in a race.

L

Lay

A bet on a horse to lose a race rather than to win.

Longshot

Refers to a horse whose price is bigger in the market.

Lucky 15

A bet that consists of four horses and places fifteen different bets on the four horses - 4 singles, 6 doubles, 4 trebles and a fourfold accumulator.

M

Market mover

This refers to a horse whose price changes prior to the race, either lengthening or shortening.

Multiple

A bet consisting of more than one selection.

N

Nap

Refers to a tip which is a person’s strongest fancy in a race.

O

Odds

The price of a horse to win a race.

Odds-against

The price of a horse is longer than evens. Your winning profit is more than the amount you staked.

Odds-on

The price of the horse is shorter than evens. Your winning profit is less than the amount you stake.

On the nose

When you place a bet ‘on the nose’ you are betting on the horse to win only.

P

Patent

A bet comprising 7 bets - 1 single, 3 doubles and 1 treble. It is made up of 3 selections and one horse must win to yield a return.

Place

You are betting on a horse to finish in the places for which bookmakers pay out. Places in a race differ according to the number of runners in a race and bookmaker terms.

Price

The price refers to the odds of a horse.

R

Punter

A person who bets.

Return

The return on a bet is your stake plus your profit.

S

Selection

The horse that a punter has chosen to have a bet on.

Stake

The amount you bet.

Starting Price

The odds at which a horse starts for a race. This determines the return on a punter’s bet unless they took a specified price.

Steamer

A horse which has shortened significantly in the market prior to a race.

T

Tips

Selections offered by experts on horse racing.

Tote

Most famous for its Placepot and Jackpot, the Tote offers pool betting where all stakes go into a pool and a dividend is paid out if you place a winning bet.

Trixie

A bet comprising 4 bets - 3 doubles and a treble. The bet is made up of 3 selections.

W

Winnings

The amount of profit returned following a successful bet.

Y

Yankee

A bet comprising 11 bets - 4 doubles, 4 trebles and an accumulator. The bet is made up of 4 selections.

More Reading

There is plenty more advice and guidance on types of bets and horse racing terminology available to you here. Check out our other pages:

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