Having a bet is part and parcel of a day at the races. It's great fun and who knows, you might back a winner. It's the easiest thing in the world to do, just select your horse or horses from the racecard and decide what type of bet you wish to do. Remember, you have the choice of betting with the Tote or the bookmakers and your bet can be as small or as large as you like, although some bookmakers might have a minimum stake. This amount will be displayed by the bookmaker. Whether you bet with the Tote or a bookmaker, you will receive a ticket which will record your selection and your stake. This is in effect your receipt, so keep it safe.

Remember, there are any number of bets which a racegoer can have, but the most popular are win and each-way bets. If you back a horse to win, it must win for you to collect. A €5 win bet on a 5/1 will return €30, winnings of €25 and your stake (€5) back.

An each-way bet is two bets in one. Firstly, you are backing a horse to win, and secondly, you are backing it to be placed. Having €5 each-way on a horse will cost €10, €5 to cover the win portion of the bet and €5 for the place part of the bet. If your horse doesn't win, but finishes in the placings, there will be no return for your win bet and you lose this part of your stake.

There are two ways betting odds are displayed. Most bookmakers use the traditional fractional system but they may use a decimal system. Fractional odds are displayed in a very familiar format, for example 2/1, 9/4, 4/1.

In spoken form, this is "two to one", "nine to four" and "four to one". If your selection wins at 2/1, for every €1 you stake, you will win €2, plus your stake back. On occasion, your winning selection might be 1/2, meaning it is odds-on. In this instance, for every €2 you bet, you will win €1, plus your stake back. In theory, the shorter the odds, the better chance a horse has of winning.

 

Tote betting is available at all racecourses and through the Tote Ireland call-centre at Ballymany, Newbridge, County Kildare or on thetote.com. You can bet with the Tote at the numerous branded selling points throughout the racecourse or with Tote representatives carrying hand-held devices, such as in hospitality areas.

Unlike racecourse bookmakers who offer odds for betting on each horse in a race, the Tote offers pool betting. This means it pools together the money it receives from bets on a given race and shares this out among winning customers. Look out for Tote bets such as the Placepot, Pick 6 and Jackpot which are bets that are run over a number of races and can result in large pay-outs.

Racecourse bookmakers are an integral part of a day at the races. They are easily identifiable and certainly add to the atmosphere at the racecourse. The majority of racecourse bookmakers ply their trade in the betting ring, but they can also be found in corporate hospitality areas of the racecourse.

Racecourse bookmakers advertise the odds they will offer you on each horse on their display boards. Shop around and make sure you secure the best odds on your horse. While bookmakers may adjust these prices as money is wagered ahead of the race, you will receive the odds advertised for your horse at the time you place your bet - this is known as a fixed-odds bet. Your potential winnings will be displayed on your printed ticket the bookmaker gives you when you place a bet. This ticket is also your receipt, keep it safe.