Betting on a horse race really dials up the excitement you feel when watching the runners charge down the home straight.
The top bookmakers offer a wide range of betting options on each race. These are the most popular horse racing bet types:
Race Winner
This is a simple bet on which horse will win the race. The bookies will release odds on each runner before the race gets underway. The odds tell you two things:
- The profit you’d earn from a winning bet.
- The likelihood of the bet winning.
All you need to do is multiply your stake (bet size) by the odds. For example, a £10 bet at 8/1 would deliver an £80 profit. It gives the horse an 11.1% implied chance of winning.
Many punters bet on the favourite, as that horse will be in great form. However, long shots often upset the odds. For example, a 300/1 outsider called Blowers won at Exeter in December 2025. He became the longest-priced winner on a British track, finishing three-quarters of a length ahead of the 5/4 favourite, On The Bayou.
Each-Way Bet
You’ll often hear punters talking about going each-way on a horse, but what exactly does it mean? An each-way bet is actually two separate wagers:
- One on the horse to win the race.
- Another on the horse to place (finish in the top two, three or four, depending on the number of runners).
That means a £10 each-way bet would actually cost you £20. There are three possible outcomes:
- The horse wins: Both parts of the bet pay out.
- Your horse places: The win bet fails, but the place bet pays out.
- The horse finishes outside the places: Both bets lose.
You can check the place terms before placing a bet on a race. They tell you whether the horse needs to finish in the top two, three or four. The place terms can vary, but these are the most common terms:
- 5-7 runners: Top two.
- 8+ runners: Top three.
- Handicaps with 15+ runners: Top four.
Most bookies pay a quarter of the odds on the place. Here’s an example to help you understand how each-way betting works:
- You bet £10 each-way on a horse priced at 8/1.
- There are 10 runners, so the place terms are a quarter of the odds on the first three horses to finish the race.
In this case, there are three potential outcomes:
- The horse wins: Both parts of the bet pay out. Your £10 win bet pays out at 8/1, delivering an £80 profit. The place bet pays out at a quarter of 8/1 (2/1), delivering a £20 profit. Your total profit is £100. You get your £20 stake back, so your return is £120.
- The horse finishes second or third: The win bet fails, but the place bet pays out. You get £20 in profit, and you get your £10 stake back. That gives you a return of £30, which is £10 more than you staked.
- The horse finishes outside the top three: Both bets lose.
As a rule of thumb, it’s best to place each-way bets on horses priced at 4/1 or longer. It’s not really worth going each-way on long shots.
Forecast
This bet requires you to predict the first two horses to finish the race, in that exact order. That’s harder than simply picking the winner, so you’ll earn a larger payout from a successful forecast bet. This is also a popular option in greyhound betting.
Tricast
You can predict the first three horses to finish a race. Once again, you need to specify the exact order in which they’ll finish. That’s even harder than a forecast, so you’ll normally earn an even larger profit if you nail it.
Reverse Forecast
Pick two horses, and they can finish first and second in any order. This is actually two separate bets – for example, No. 4 to win and No. 7 to finish second, and No. 7 to win and No. 4 to finish second. For that reason, a £5 reverse forecast would cost £10.
Combination Forecast
This bet requires you to pick three horses. One needs to win the race and another needs to finish second. You’re covering all six potential combinations, so a £5 combination forecast would cost you £30.
Combination Tricast
Pick three horses, and they need to finish first, second and third in any order. Once again, there are six potential combinations, so a £10 combination tricast would require a £60 total stake.
Multiples
You can also pick the winners of multiple races. For example, you might opt for a double: Matterhorn to win the 1.50 at Ascot and Famous Bridge to win the 2.05 at Haydock. You could throw in another selection – Holloway Queen to win the 2.15 at Hereford – to turn it into a treble.
The more picks you add, the higher your potential profit. Your winnings from each correct pick will roll over to the next leg, causing your profit to snowball. However, these multiple bets – also known as accumulators, or accas – are risky, as the bet will fail if just one horse loses.