Here are some terms that you may come across when placing a bet with a bookmaker

Each-Way: A bet which consists of two wagers. The first is for the selection to win and the second is for the selection to place.

Evens: Odds of 1 to 1. Therefore, if you put £5 on a horse and it wins, you win £5 plus your original £5 stake.

Favourite: The horse considered most likely to win and therefore has the shortest or lowest odds. The Favourite may also be referred to as the Jolly.

Forecast:  A bet that involves correctly predicting the 1st and 2nd past the post in a race. This bet can be reversed - this is referred to as a Reverse Forecast.

Form: The past performances used to give an indication of a horse’s chance.

Handicap:  A method using weights in Jockey’s saddles to even up the field to make the race closer and, therefore, more exciting.

Odds: The bookmaker's view of the chance of a horse winning.

Odds-On: When a horse is strongly fancied, the odds are less then evens. For example, a horse may be quoted at 2 to 1 on, or 1/2. This means that for every £2 you put on the horse, you will get £1 back plus your stake.

Starting Price or SP: Unless you state otherwise, all bets are settled at the Starting Price. The SP is arrived at by taking the average price in the betting ring shortly before the race starts. 

Stake: The amount of money you place on a bet.

Happy punting!