To the uninitiated, betting on the horses may seem to be a complex cross between If a horse is a strong favourite to win a race it will sometimes be “odds- on”. We would have included this with the explanation of the odds but didn't want to. People have been betting on horse races since horses have been running. . Bet Type, Your Chances of Winning, Explanation and Expectation, Suggested. Horse Racing terminology can be daunting when you are new to betting. Don't worry, we have a fantastic guide with everything you need to know about it. NAP of the Day Acca Tips Lucky 15 Tips Double Tips Greyhound Tips Australian Tips ITV Racing Tips. Your horses must finish 1st, 2nd, 3rd, and 4th; hard to bet unless you have a sizeable bankroll; big payoff possible. This is one bet, on one outcome and you are backing the horse to win the race. Bookmakers also offer a wide range of Special bets on horse racing. These are often at their peak during Cheltenham Festival week. NAP of the Day.