Betting Terminology

Check our betting glossary to get explanations around the main betting terms in the industry.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
E
Each-way -

This is a common bet which allows you to place a stake of equal amounts on a selection to either win an event or to be placed, usually in the top three or four depending on the size of the field. The price for the place part of the bet is usually a quarter or a fifth of the odds for an outright win. For Horse Racing the place part of Each-Way bets are usually settled at the following Place Terms: NON HANDICAP RACES: 2-4 Runners Win Only 5-7 Runners ¼ the Odds 1, 2 8 or more Runners 1/5 the Odds 1, 2, 3 HANDICAP RACES: 2-4 Runners Win Only 5-7 Runners ¼ the Odds 1, 2 8-11 Runners 1/5 the Odds 1, 2, 3 12-15 Runners ¼ the Odds 1, 2, 3 16 or more Runners ¼ the Odds 1, 2, 3, 4 For Greyhound Racing the place part of Each-Way bets are usually settled at the following Place Terms: 2-4 Runners Win Only 5-7 Runners ¼ the Odds 1, 2 8 Runners 1/5 the Odds 1,2,3

Even money -

This is a 1:1 odds bet. A £10.00 stake would return £20.00 (£10.00 win plus £10.00 staked).

Exacta -

This is a Tote bet operating in races of 3 or more declared runners in which the punter has to pick the first two to finish in the correct order.