Win singles

This is a highly popular method of betting. Your selection has to be correct for your bet to be successful. Say for example you placed �5 to win on Manchester United to win the Champions league at 10-1. That means your basic stake is �5. The odds that are offered on Manchester United, in this case 10-1, reflect the chance that the bookmakers think it has of winning. They are predicting that for every ten times the championship is played it will win one of them. If Manchester United were to win you would win ten times your stake and your stake is returned, as your bet is a winner. That equates to 10 x �5 = �50. Including the �5 original stake a total of �55 would be returned. Should of course Manchester United not win the tournament then the �5 would be lost.

Each-Way Single

This wager is effectively a split stake bet between win only and place only. It means that you can still get a return even if your selection does not win. The example of Manchester United at odds of 10-1 to win the Champions league will again be used. For the each way selection to be successful Manchester United would need to finish inside the top 2. (The number of places will vary, depending on what the bookmaker says)

The first thing to realise is that your stake is now �10 with �5 on United winning and �5 on the United coming second. If Manchester United came first, your winnings would be �55 (�5 stake x 10) and your stake would be returned too. As well as that the place section of the bet is also successful. The fraction of the odds varies from race to race depending on how many teams there are. To make it simple let us imagine that in this case the place terms are a half the odds for first, second or third. Therefore in addition to Manchester United's �65 for a win, a further �30 for coming second (a half of 10 multiplied by the �5 stake plus the original stake). If Manchester United came second the win section of this wager would lose but you would still get �30 back thanks to second place being obtained.

Double: This is when two selections need to be successful. Treble: This works in exactly the same way as a double except that three selections are chosen. If four selections or more are used, the bet is known as an accumulator.