Types of Cheltenham Racing Bets

Win
Also referred as 'on the nose', you're selecting a horse to win.

Place
This bet is available with the tote or a betting exchange. You're selecting a horse to be placed. Generally this means your horse needs to finish either 1st, 2nd or 3rd. However for races with 5-7 runners, your horse needs to finish 1st or 2nd and for a race with only 1-4 runners, there is no place betting. For a handicap race with 16 or more runners, your horse can finish within the first four.
Please note, the Place odds will be a fraction of the Win price, generally a 1/4 or 1/5.

Each-way
This gives you a win and place bet on the same horse. If your horse wins, you collect both the win and the place dividend. Because an each-way bet is two bets, your stake is doubled i.e. a £2 each-way bet will cost you £4.

If your horse wins, both bets pay out. If your horse is placed (i.e 2nd, 3rd or 4th in handicaps with more tha 16 runners), your second bet pays out.

It's worth noting that all high street bookmakers offer each-way betting as do many on-course bookmakers. It will say on their board, so just check before you bet.

Exacta
With the Tote Exacta you need to select the 1st and 2nd placed horses in the correct order. This bet is valid on all races with three or more runners.

Placepot
You need to select a horse to be placed in each of the first six races. You will have to complete a Tote Placepot betting coupon to place your bet. The more horses you choose in each race, the more the bet will cost.

Scoop6
This is a Saturday only pool bet whereby racegoers and TV viewers are asked to find the winners of six selected televised races.