"A WIN BET"
The entire bet is staked on the fact that the horse will win.
"EACH WAY BET"
Effectively two bets in one. Half says the horse will win and is paid out at the odds given if it wins. The other half of the bet says it will come in the first three (sometimes four). You get either 1/4 or 1/5 of the odds if the horse is placed (i.e. second or third).
This is the same as a win bet except two horses are chosen in different races. They both have to win otherwise you lose your stake. The winnings from the first race are used as stake money (automatically) to back the chosen horse in the second race. Such bets can yield dramatic winnings.
A horse that is well supported resulting in a sharp fall in price (e.g. from 10-1 to say 5-1).
"S.P. OR STARTING PRICE"
The odds calculated at the time of the ‘off’.
"TAKING THE PRICE"
Taking a fixed price offered by a bookie before the ‘off’.
This is when you bet on a horse a long time (days or even weeks) before the race. This is done in order to get a better price than on the day of the race itself.
For most races the prices aren't shown until about 7 minutes before the off. However, each day for some races, bookmakers will reveal prices many hours before the race. These are called early prices. So on some races you can take a price many hours before the race is due to run.
This means the horses have left the enclosure and are literally 'going down' to the starting line.
"AT THE POST"
The horses have arrived at the starting post.
“UNDER STARTER’S ORDERS”
The horses are lined up and ready. The race will start at any second.
A forecast is when you predict both the first and second horse in a race. This is an unusual bet because your betting slip is filled in based on the horse's number rather than the horse's name. (e.g. 5 to beat 3 rather than 'Dead Cert' to beat 'Second Best' past the post).
Note: In Ladbrokes a forecast is known as a showcast but it's the same thing
A split bet is when you back more than one horse to win in the same race. Usually this bet is to back two horses but I've actually backed three horses in the same race before now. Obviously only one horse can actually win but if the prices are right, the bet can still be worth placing.
"RULE 4 DEDUCTION"
If one horse is withdrawn from a race after betting has started the bookies will sometimes reduce the amount they pay you if you have taken a price and your horse eventually wins. The amount they deduct depends on the odds of the withdrawn horse. If it's an outsider at 50-1, there may not be any deductions at
all. If the withdrawn horse stood a reasonable chance of winning, the deduction may be 5%, 10% or even more. The reason for this is obvious. If (say) the favourite is withdrawn this makes it far more likely that your horse at, say 5-1, will win. Always a bit of a bummer this one. Rule 4 does not apply to ante post bets.
"EACH WAY DOUBLE"
You could probably work this one out for yourself. It's the same as a 'win double' but both horses only have to be 'placed' in order for you to get a return. The profits from the first race go onto the second part of the bet. Very lucrative when both horses win and a reasonable return if both horses are placed.
Wait for the jockey to be 'weighed in'. This will normally happen when your winnings exceed £1000 although a lot of shops have a £500 limit. After the race the winning jockey has to be weighed to make sure that there has been no infringement of the rules (remember in handicaps the jockey has to carry additional weights) - this normally takes around 10 minutes. I'm sure you'll agree it's well
worth the wait.
This is the classic, it's nothing more complicated than Cockney rhyming slang for odds of 100-30.
Pick two horses in a race to finish first and second in any order (not surprisingly there has to be 3 or more horses running).
The Placepot is available at all race meetings. Simplicity itself – pick a horse in each of the first six races that gets placed. (If a race has less than five runners, you have to pick the winner).
This is not available at every meeting, instead a meeting will be designated for the purpose. This time you have to pick every winner in the first six races. The prize money gets even bigger when there is no Jackpot winner and the pool of money is rolled over to the next meeting. Jackpots are quite good fun and for a few quid you can have a go at winning a share in half a million pounds or more. You might want to try it at least once just for the excitement.
Sometimes when you ask for a price you will be told 9-1 guaranteed (for example). This means that if the SP is better than 9-1 you get the higher price, but if the SP shorter, you still get 9-1. Most bookmakers now offer BOG (Best Odds Guaranteed).
A Monkey is a bet of £500. It was probably named after the Indian 500 Rupee note, which I’m told on good authority had a picture of a monkey on the front.