For the uninitiated to horse racing, putting a bet can be a daunting experience. There is a myriad of choices and differs from country to country. Below are some of the most common types of bets. Depending on the country, the starting price can be based upon the average odds of the horse offered by some of the bookmakers at the track as is the case in the United Kingdom. In USA, France and Hong Kong, however, the starting price is set by the Pari Mutuel (or Tote in the United Kingdom). All the money bet on a race is pooled and then a certain percentage (e.g. 60%) of the money is paid out. The Pari Mutuel starting price is dependent on how much of the pool money has been placed on a particular horse. The bookmaker version is fairer to the punter/gambler as it is possible for the bookmaker to lose whereas in the Pari Mutuel system, the bookmaker/racecourse/government is guaranteed to make a huge killing on each race!

WIN
Simply that the horse picked must win.

SHOW/PLACE
The horse must come placed according to the terms of the race. For example, a PLACE in a race with less than 8 horses are the first two places, whereas a horse race with 8 or more are the first three places. A PLACE in a handicap race with more than 16 runners are the first four past the post. However, individual bookmakers might offer slightly different place positions.

EACH WAY
Named horse to either win or get placed.

FORECAST
Naming the first two horses past the post in the correct order.

REVERSED FORECAST
Naming the first two horses past the post in either order.

TRICAST/TRIFECTA
Naming the first three horses past the post in the correct order.

DOUBLE
This involves two horses in different races.

TREBBLE
This involves three horses in 3 different races.

PATENT
This involves three selections with 3 singles, 3 doubles and 1 trebble.

TRIXIE
This involves three selections with one treble and three doubles.

YANKEE
This involves four selections with 6 doubles, 4 trebbles and 1 fourfold.

LUCKY 15
This involves four selections with 4 singles, 6 doubles, 4 trebbles and 1 fourfold.

CANADIAN
This involves five selections with one five-timer, five four-timers, 10 trebles and 10 doubles.

LUCKY 31
This involves five selections with one five-timer, five four-timers, 10 trebles, 10 doubles and 5 singles..

HEINZ
This involves six selections with one six-timer, six five-timers, 15 four-timers, 20 trebles and 15 doubles

LUCKY 63
This involves six selections with one six-timer, six five-timers, 15 four-timers, 20 trebles, 15 doubles and 6 singles.

ACCUMULATOR
A bet involving four of more horses of which all must win unless it is an Each Way accumulator.