(estimated 5 minute read time)
Racing is one of England’s most popular sports, with avid fans placing bets on their favourite horses and jockeys at iconic festivals like Cheltenham, The Grand National and the Epsom Derby. Often, a little flutter can add to the experience, making the already thrilling racing even more exciting.
However, with so many different types of bets and a variety of betting terminology, it can be challenging for novice bettors to understand what they are betting on and how to place their bets effectively.
We know there might be some racing pros amongst you who know all the lingo but we’re here to help beginners get started and this article will explain the most important betting terminology and jargon used in racing. First, let’s start with the basics:
Odds
The odds represent the likelihood of a particular horse winning the race. The odds are usually presented in fractions or decimals. For example, a horse with odds of 2/1 means that for every £1 bet, the bettor will win £2 if the horse wins. A horse with odds of 3.00 means that for every £1 bet, the bettor will win £3 if the horse wins.
Favourite
The favourite is the horse that is expected to win the race. The favourite usually has the lowest odds.
Handicap
A handicap race is a type of race in which horses carry different weights depending on their ability. The aim of a handicap race is to level the playing field so that all horses have an equal chance of winning.
Maiden
A maiden race is a race in which none of the horses have won a race before.
Novice
A novice race is a race in which the horses are all in their first season of racing over hurdles or fences.
Stewards’ Enquiry
A Stewards’ Enquiry is an investigation into a race that has taken place. The Stewards may investigate incidents such as interference between horses or a jockey breaking the rules. The result of a Stewards’ Enquiry can result in a horse being disqualified or a jockey being suspended.
Ante-Post Betting
Ante-post betting is a type of betting where bettors place their bets before the actual race takes place. This type of betting is popular among bettors who want to get better odds and better value for their money. However, ante-post betting comes with a higher risk since if the selected horse doesn’t participate in the race, the bet is lost.
Accumulator Bet
An accumulator bet is a type of bet where bettors select several horses to win, and the bets are combined into one. If all the selected horses win, the bettor wins a substantial amount of money. However, if even one horse loses, the entire bet is lost.
Each-Way Betting
Each-way betting is a type of betting where bettors place bets on a horse to either win or place in a race. If the selected horse wins, the bettor gets paid for both the win and the place. If the horse places (usually finishing in the top three), the bettor gets paid only for the place bet.
Starting Price (SP)
The starting price (SP) is the final odds offered by the bookmaker when the race begins. Bettors who place their bets at the starting price get the final odds, even if the odds change before the race’s start.
Non-runner
A non-runner is a horse that has been withdrawn from the race before it begins. If a bettor has placed a bet on a horse that becomes a non-runner, the bet is usually refunded.
NRNB
NRNB stands for Non-Runner No Bet. This means that if a bettor places a bet on a horse and the horse becomes a non-runner, the bet will be refunded.
Rule 4
Rule 4 is a deduction that is applied to winnings when a horse that has been backed is withdrawn from a race. The amount of the deduction depends on the odds of the horse and the time at which it was withdrawn.
Best Odds Guaranteed (BOG)
Best odds guaranteed (BOG) is a promotion offered by some bookmakers, where they guarantee the best odds available at the time of placing the bet. If the odds improve before the race starts, the bettor gets paid at the higher odds.
Tote Betting
Tote betting is a type of pool betting where all the bets placed on a race are combined into a pool. After the race, the pool is divided among the winning bettors, with a commission deducted by the Tote.
Lay Betting
Lay betting is a type of betting where the bettor bets on a horse not to win. This type of betting is popular among experienced bettors who use it to hedge their bets or to take advantage of the odds.
In-Play Betting
In-play betting is a type of betting where the bettor places bets on a race while it is happening. This type of betting is popular among bettors who want to take advantage of the changing odds and to bet on the outcome of the race as it unfolds.
In conclusion, racing is a thrilling sport, and betting on the outcome of races can be an exhilarating experience, particularly if your horse passes the post first! However, it is important to understand the different types of bets and the betting terminology used in this sport to make informed and effective bets. We encourage you to bet responsibly should you be joining us in The Green Room at Aintree or Epsom, but by understanding these key terms, we hope that novice bettors can place bets with a little more knowledge and confidence, adding to their racing experience as they do so.
