Horse & Greyhound Racing

An exacta is a bet on the first two finishers in the exact order. It is harder than picking a winner and pays considerably more, but carries a much higher takeout in pool betting.

A photo finish is when the judge cannot separate runners by eye and consults a finish-line photograph. If the image still cannot separate them, the result is a dead heat.

A place bet pays out if your selection finishes within a specified number of positions rather than winning. How many places are paid depends on the field size and race type.

A scratched horse has been withdrawn from a race after entries closed. Bets on it are normally refunded, and bets on the remaining runners may be reduced by a Rule 4 deduction.

The starting price is the official odds of a horse at the moment a race begins, determined from on-course bookmaker prices. Betting at SP means accepting whatever that price turns out to be.

A superfecta requires the first four finishers in exact order. It is the hardest common racing bet, with payouts that can reach five or six figures from a small stake and takeout at the top of the scale.

The Tote is the British pool betting operator, where all stakes go into a pool and winners share it after a deduction. Unlike a bookmaker, the Tote offers no fixed odds. The return depends entirely on how the pool divides.

A trifecta requires the first three finishers in exact order. Payouts are large, the odds against are substantial, and pool takeout on trifectas is among the highest in racing.