Betting Terms

A glossary of all the betting terms you need to understand the world of online betting and gambling in general...

E

Each Way

This describes a transaction that is effectively two bets in which equal stakes are laid 1) on the selection coming first, and 2) the selection being placed, i.e. coming first, second, third or fourth, depending on the race. When the punter asks for, say, "£10 each way" this is actually two bets, at ten pound stakes each, and the Bookmaker would ask for a twenty pound deposit.

If the selection wins, the return is:
Total Stake + (Stake x Win Odds) + (Stake x Place Odds (usually 1/4 or 1/5 of Win Odds))

If the selection is placed but does not win, the return is:
Place Stake + (Stake x Place Odds)

Early prices

Prices offered on selected races that day in advance of racecourse betting. Some bookmakers will offer early prices on every race every day, but this is rare.

Evens

Odds which indicate that winnings will be the same as the amount staked Also displayed as 1/1

Exchanges

Are sites that enable users to back and lay selections by offering and requesting prices directly from other punters. The transactions happen in a secure environment and can be traded once placed to take advantage of any moves in the market.