Grand National Free Bets

We explain common betting words that sometimes confuse first time punters - so if you are unsure about "stakes", "returns", "odds", "odds-on", "odds against", "evens", "long odds", "short odds" then scroll down the page.

STAKE
The ‘stake’ is the amount of money you are betting.

RETURNS
The winnings you receive back from successful bets are ‘returns’ and are calculated according to the horse’s odds and the stake.

ODDS
The ‘odds’ are the bookmaker’s perceived probability of a horse winning a race. This is how the winnings are calculated and there are different types of odds:

ODDS AGAINST
Probability offering a ‘return which is more than double the amount staked’ for a win. If the odds are 2-1 this means that for every successful £1 betted you will receive £2 in return, on top of your
initial stake. So if your stake is £1, a winning bet will return you £2 plus your original stake of £1, making a total of £3.

EVEN MONEY (OR EVENS)
Probability offering a ‘return which is double the amount staked’ for a win. If your stake is £1 you will win £1 on top of your original stake, making a total of £2.

ODDS ON
The word 'on' indicates that the odds are reversed and the bookmaker is offering a ‘return which is less than double the amount staked’ for a win bet. If the odds are 1-2, this means that for every successful £1 betted you will receive 50p on top of your initial stake, making a total
of £1.50.

LONG ODDS / SHORT ODDS
Odds that are said to be ‘long’ indicate a horse is very unlikely to win the race (e.g. 50-1). Conversely, short odds point to a horse that has a good chance of winning (e.g. 2-1).