Horse Racing Bet Types Explained | Paddock Punter

The Basic Bets

Win

The simplest bet — you pick a horse to win the race outright. If it wins, you collect. If it finishes second or lower, you lose your stake.

Each-Way

An each-way bet is two bets in one: a win bet and a place bet, each at your chosen stake. So a £5 each-way costs £10 in total. The "place" part pays out if your horse finishes in the top 2, 3, or 4 depending on the number of runners and race type. The place odds are usually 1/4 or 1/5 of the win odds.

When to use it: Each-way betting is most valuable when backing longer-priced horses (10/1 or bigger) in big fields, where a place return can still give a good profit.

Place Only

You bet purely on the horse to place (finish in the top 2, 3 or 4). Odds are lower than win odds but the bet wins more frequently.

Multiple Bets

Double

Two selections combined into one bet. Both must win for the bet to return. Winnings from the first selection roll onto the second, compounding your returns.

Treble

Three selections, all must win. Returns from selection 1 carry to 2, then to 3. Can produce big returns from small stakes but all three must win.

Accumulator (Acca)

Four or more selections combined. All must win. The potential returns can be enormous on big accumulators but they are extremely difficult to land. Common for football but popular in horse racing too.

Full Cover Bets

Full cover bets include all possible combinations of doubles, trebles and accumulators from your selections. Some also include singles.

Trixie (3 selections)

3 doubles + 1 treble = 4 bets. Two selections must win to see any return.

Patent (3 selections)

3 singles + 3 doubles + 1 treble = 7 bets. One winner returns a profit in some cases.

Yankee (4 selections)

6 doubles + 4 trebles + 1 fourfold = 11 bets. Two selections must win for a return. Popular for weekend horse racing.

Lucky 15 (4 selections)

4 singles + 6 doubles + 4 trebles + 1 fourfold = 15 bets. The inclusion of singles means just one winner gives a return. Many bookmakers offer bonuses for one winner or an all-winners Lucky 15.

Canadian / Super Yankee (5 selections)

10 doubles + 10 trebles + 5 fourfolds + 1 fivefold = 26 bets. Two must win for any return.

Lucky 31 (5 selections)

5 singles + 10 doubles + 10 trebles + 5 fourfolds + 1 fivefold = 31 bets. One winner returns something.

Heinz (6 selections)

15 doubles + 20 trebles + 15 fourfolds + 6 fivefolds + 1 sixfold = 57 bets (like the 57 varieties). Two must win for a return.

Lucky 63 (6 selections)

6 singles + 57 combination bets = 63 bets. The most popular full cover bet for big Saturday cards. One winner gives a small return; all six up can deliver life-changing payouts.

Specialist Bets

Forecast / Reverse Forecast

Predict the first and second horse in the correct order (Forecast) or either order (Reverse Forecast). Available as a Tote or computer-generated return.

Combination Forecast

Name three or more horses and all possible 1st/2nd combinations are covered.

Exacta

Pick the first two finishers in the exact order. Generally available through the Tote pool.

Trifecta

Predict 1st, 2nd and 3rd in the correct order. Very hard to land but the pool dividends can be enormous, especially in handicaps with big fields.

FAQ

What does SP mean?

SP stands for Starting Price — the official odds returned at the moment the race starts. If you don't take a price with your bookmaker, your bet settles at SP.

What is a Rule 4 deduction?

If a horse is withdrawn before the race, bookmakers apply a Rule 4 deduction — a percentage reduction to winnings to reflect the reduced field. The amount depends on the withdrawn horse's odds at the time of withdrawal.