There are a variety of ways of making a bet:  A day's horse racing wouldn't be complete without placing a bet.

Standard bet

A standard bet is a bet against the bookmaker. A bet is placed at odds given by bookmaker.  You know how much you stand to win or lose, and odds can’t be altered

Starting price bet

Odds are set at the start of the race.

Spread bet

Favourites index

This is a bet on the likely success of failure of  favourites

Jockey index

This is a bet on the success of a particular jockey

Winning distance index

Unlike a standard bet, you don’t know how much you could lose.

Tote

Customers bet against each other.  All the bets are pooled with deductions for costs and racing contribution. Winning dividend is calculated by dividing the remainder of the pool by the number of winning bets. Odds can change up until the start of the race.

Matched betting.

This has become popular with the coming of internet.  It is the same as Standard, but without the bookmaker.  Anybody can offer odds. A matching betting site offers standard betting or accept bets offered by yourself for someone else to bet on.

Bets can be placed to:

Win

Pays if horse wins.

Place

Pays if horse comes first, second third and occasionally fourth

Each way

A win bet and a place bet put together.  So if you win, you win twice.

Double

Backing  2 horses in 2 different races, multiplying odds if both horses win, losing if either horse loses. Can be places as a Win or Each way

Treble

The same as a double, with 3 horses in different races.

Accumulator

The same again, this time with 4 horses in different races.

Straight forecast

 Predicting the first and second horse in the same race.

Reverse forecast

Predicting 2 horses,  either coming first or second in the same race.

Tricast

Predicting 3 horses, any placed in the same race.

Patent

3 horses in 3 different races

Yankee

4 horses in different races

Super yankee

5 horses in different races

Goliath

The big one.    8 selections.

Jackpot

Placed with tote to  select 6 winners

Placepot

Selecting 6 horses to be placed

Scoop 6

6 horses to win or be placed from races televised on Saturday afternoon

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