Making your first bet on Cheltenham can be an overwhelming prospect when you're not an expert on all the terms and phrases in sports betting.
If you've never placed a bet before and you're curious to drop a fiver on a horse, there are a few things you should know to give you the best chance of walking out a little bit richer.
Here's our beginners guide - written by a beginner - to the betting terms you need to know to become an expert fast.
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An Accumulator
An accumulator bet usually involves four or more single bets that will add up to increase the odds and thus the potential winnings. However if one of your bets doesn't come through, you won't win anything regardless of the other bets in the accumulator.
Each-way bet
An each-way bet is available to punters in sports events that feature a "winner and competitors finishing in a sequence of places" like horse racing.
The bet involves "a single selection but is comprised of two bets: a 'win bet' and a 'place bet'. The same selection is thereby backed to win the event at set odds, and backed to finish within a range of places at different odds. The each-way bet will provide a payout if either part of the bet proves successful."
Underdog
The term underdog refers to a less-favoured competitor in the eyes of the bookmaker which results in it having longer odds and potentially higher returns to gamblers.
Banker
Basically the opposite of the underdog. A competitor that's highly fancied by the bookies to win so the odds for placing a bet won't be worthwhile.
The Spread
The Spread is when you place a wager on the outcome of an event where the payoff is based on how accurate the wager was rather than the normal win or lose outcome of a race.
Against the spread
Rather than backing an individual winner, you back a selection of runners to cover the spread.
Evens
This is when the bet you place will bring you equal winnings. For example a €10 bet will bring you €10 winnings plus your original €10 bet.
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