This quite simply is betting on your selection to win the race. This type of bet can be placed with either a bookmaker or on The Tote.
If the bet is placed with a bookmaker, the odds are those displayed on the bookmakers’ board at the time of betting. If placed on The Tote, the odds are the win dividend declared at the end of the race.
Each Way Betting
This is betting on your selection to both win the race and to be placed (normally 1-2-3 but check!!). This is two bets, one to win and one to be placed. So, for instance a £2 each way bet will cost £4. If your horse wins, you are paid on both bets.
You can place each way bets with most on-course bookmakers and at Tote windows.
A place bet as the name suggests is a bet on a horse to be placed in the race. Places are determined as follows:
5-7 runners: 1st and 2nd
8+ runners: 1st, 2nd and 3rd
‘Handicap’ races of 16+ runners: 1st, 2nd,3rd and 4th
Place only can usually only be done on The Tote
This is a bet placed on The Tote Pool which is betting on a horse to be placed in each of the first six races. This is a relatively cheap bet to place but for which the dividend can sometimes be quite lucrative.
There are a few other types of bet but the above are the easiest and most popular for racegoers.