Here are the most popular types of bet in horse racing:
Betting to win means that your horse must come first.
An each-way bet means that you think that while your horse could win, it is more likely to come second or third.
An each-way bet is essentially two bets on the same horse. One of them to come first and another bet for them to place, therefore the stake is double a win bet. A £2 each way bet would then be a total of £4.
If your horse comes first you get a return on both the win bet and the place bet. If your horse finished second, however, you lose your win bet but will still get a return on your place bet.
A place bet returns a quarter or a fifth of the odds depending on the amount of runners in the race.
Now you know the types of bets in horse racing, see our guide for how to bet on the racecourse.