Horse Racing Betting: Bet Types, Each-Way Terms and Offers
From a simple win bet to a Lucky 15, racing has more bet types than any other sport. Here is how each one works and what to check before you back a horse.
How horse racing betting works
Racing markets open days, sometimes months, before a race and keep moving until the off. You can usually choose between two kinds of price:
- The early price, which is fixed when you place the bet.
- The starting price (SP), the official price at the moment the race starts. If you take SP, you don't know your exact odds until the race begins.
Bets struck well before race day are called ante-post bets. Prices can be bigger, but if your horse doesn't run you normally lose your stake, unless the bookmaker offers a "non-runner no bet" concession for that race.
Win, each-way and forecasts
- Win: your horse has to finish first.
- Each-way: two bets, one to win and one to place. See our each-way betting guide for worked examples.
- Forecast: pick the first and second in the correct order. A reverse forecast covers both orders and costs twice as much.
- Tricast: pick the first three in the correct order.
Multiples and full-cover bets
Racing fans often combine several horses in one bet:
| Bet | Selections | Number of bets | What it includes |
|---|---|---|---|
| Double | 2 | 1 | Both horses must win |
| Treble | 3 | 1 | All three must win |
| Yankee | 4 | 11 | 6 doubles, 4 trebles and a four-fold |
| Lucky 15 | 4 | 15 | A Yankee plus 4 singles |
Because full-cover bets contain several bets, the total stake multiplies: a £1 Lucky 15 costs £15. Use our Lucky 15 calculator or the bet calculator to work out returns, including each-way versions.
Each-way place terms
How many places pay depends on the race type and the number of runners. Under standard UK terms, races with 5 to 7 runners pay two places at 1/4 odds, races with 8 or more runners pay three places at 1/5, handicaps with 12 to 15 runners pay three places at 1/4, and handicaps with 16 or more runners pay four places at 1/4. Check the terms on your bet slip, because bookmakers can improve them on individual races. Our each-way calculator shows the place odds for you.
Rule 4 and non-runners
When a horse is withdrawn after the market has formed, the remaining runners have a better chance of winning, so bookmakers apply a Rule 4 deduction to winning bets. It's taken from the winnings in pence in the pound, and the shorter the withdrawn horse's price, the bigger the deduction.
If your own horse is a non-runner, a single bet is normally refunded, and in a multiple that leg is treated as void, so the bet carries on with the remaining selections.
Racing promotions
Racing promotions change from meeting to meeting. The most common types are:
- Extra places, where a race pays one more place than normal on the each-way part. BetBlink runs extra place promotions on selected races.
- Price boosts on selected horses, usually with a maximum stake. See enhanced odds explained.
The welcome offers from our featured bookmakers are compared below:
Editor's pick Position 1
BetFusion iOS app
Code BFUS10 on your first deposit
Get a £10 Free Bet
Code BFUS10- Min deposit £10
- Min odds 6/4 (2.5) combined
- Max conversion £100 free bet winnings
- Valid 7 days
18+ New customers only. First deposit of £10+ by Visa, Mastercard or Apple Pay using code BFUS10. Place a £10+ qualifying ACCA or Bet Builder (2+ selections, combined odds 6/4 or bigger) to get one £10 Free Bet for an ACCA or Bet Builder on the same terms; free bet stake not returned. Horse racing, greyhounds and virtual sports excluded. Qualifying bet and free bet must be placed within 7 days of the deposit. Max free bet winnings £100. One per person, household, device and IP address. 18+. T&Cs apply.
Great offer Position 2
PlayWins iOS app
Code PWIN10 on your first deposit
Get a £10 Free Bet
Code PWIN10- Min deposit £10
- Min odds 6/4 (2.5) combined
- Max conversion £100 free bet winnings
- Valid 7 days
18+ New customers only. First deposit of £10+ by Visa, Mastercard or Apple Pay using code PWIN10. Place a £10+ qualifying ACCA or Bet Builder (2+ selections, combined odds 6/4 or bigger) to get one £10 Free Bet for an ACCA or Bet Builder on the same terms; free bet stake not returned. Horse racing, greyhounds and virtual sports excluded. Qualifying bet and free bet must be placed within 7 days of the deposit. Max free bet winnings £100. One per person, household, device and IP address. 18+. T&Cs apply.
- Position 3
SaviBet SaviBet iOS app
New players: deposit £10 and place £10 in bets
Deposit £10, Get a £20 Free Bet
- Min deposit £10
- Wagering 1x
- Min odds 1.5 (1/2)
- Max conversion £200
- Valid 7 days
18+ New players only. Deposit £10+ via the sports cashier and place £10 in qualifying real-money bets. Get a one-time £20 free bet: min odds 1.5 (1/2), free bet stake not returned. Free bet winnings wagered 1x; max conversion £200. Free bet and bonus valid 7 days. Skrill and Neteller deposits excluded. One sports welcome offer per customer across the ProgressPlay network. Withdrawal requests void active bonuses. 18+. T&Cs apply.
Only one sports welcome offer can be claimed per customer across the ProgressPlay network (including SaviBet, LuckCity and BetBlink).
Reading a racecard
A racecard packs a lot into one line per horse. The main things to look at are:
- Form figures, the horse's recent finishing positions, read from left (oldest) to right (most recent). Letters show non-finishes, such as F for fell, P for pulled up and U for unseated rider.
- Weight, jockey and trainer.
- Official rating, the handicapper's assessment of the horse's ability.
- Draw, the starting stall in Flat races, which can matter on some courses.
The big UK racing festivals
The calendar's biggest betting dates include the Cheltenham Festival in March, the Grand National meeting at Aintree in April, the Derby at Epsom in early June, Royal Ascot in June, Glorious Goodwood at the turn of July and August, York's Ebor Festival in August, the St Leger Festival at Doncaster in September and the King George VI Chase at Kempton on Boxing Day.
Keep it fun
Set a budget before you play, never chase losses and take regular breaks. Gambling should never be a way to make money. Free, confidential help is available from GamCare or the National Gambling Helpline on 0808 8020 133.
