Odds: Odds are a statement of how much you will win if your bet wins. They may be quoted as decimal odds or fractional odds.

Fractional Odds: Fractional odds are stated as fractions such as 4/3. To calculate winnings you multiply the stake by the fraction and to calculate the amount you will receive from the bookmaker you then add on your original stake. This if you bet £3 at 4/3 you receive £7 if you win.

Decimal Odds: These are quoted as a decimal such as 2.5. To calculate the amount you will receive from the bookmaker you just multiply by the decimal number; your stake is not separately returned. This if you bet £2 at 2.5 you receive £6.00 if you win.

Betting to win: Betting to win means that you will win if the horse finishes first, otherwise you will lose your stake. The amount you will win is detailed above.

Betting each way: Betting each way means that you place a bet that the horse will finish in the top 2, 3, 4 or 5 places depending on the bookmaker and the number of entries, though generally it is the top 3 places.  This bet is really two bets; one on the horse winning and one on the horse being placed. If the horse is placed only the amount of the stake on this part of the race counts and odds are paid out at a fraction (generally one quarter) of the stated odds. If your total bet is £2, then £1 is a win bet and £1 is a place bet.

Calculating each way winnings when your horse wins: To calculate your winnings if your horse comes first you multiply half of your total bet by the odds offered and add this to an equivalent multiplied by ¼. Only if the odds are fractional do you add in your original stake

Calculating each way winnings when your horse is placed: To calculate your winnings if your horse comes finishes second or third, you multiply half of your total bet by one quarter of the odds offered. Only if the odds are fractional do you add in one half of your original stake

Try the above betting tips for betting on the Grand National this year. Find all the latest odds on all 40 horses ready to win at the Aintree Racecourse at Easyodds.com.

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Allison Graham

Allison is the Publisher of Eclipse Magazine. She loves going to the Races and is learning to bet (despite being officially the worst bettor in the History of the Universe), there's a lot more to learn...

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