# Glossary: each-way, odds and racing terms

> Plain-English definitions of 39 UK betting and horse racing terms, from place terms and Rule 4 deduction to implied probability, with links to worked examples.

Source: https://eachwayatlas.uk/glossary/
Updated: 2026-11-07

This glossary defines 39 terms used in UK each-way betting and horse racing, from place terms and Rule 4 deduction to implied probability. Twenty-two of them have their own article with a formula, and the rest are defined here in one line. To see how the terms fit together, start with what each way means.

## How the glossary is built

Each article gives a definition, how it is worked out, a worked example and where it appears in UK betting. A term that also has a question page, such as [what each way means](https://eachwayatlas.uk/each-way/what-does-each-way-mean/), takes its numbers from that page, so no example is repeated.

**Where the definitions come from · checked 7 November 2026**

| Source | Used for | Edition or date read |
|---|---|---|
| Tattersalls Rules | Settlement, dead heats, Rule 4 | Not verified |
| Bookmakers' published rules | Place terms, offers, cash out | Not verified |
| Gambling Commission licence conditions | Wagering requirement, payments | Read 6 November 2026 |

**The short version:** where a rule belongs to a bookmaker or to the Tattersalls Rules, read the current text before relying on our one-line summary.

## The 39 terms, A to Z

  [Accumulator (acca)](https://eachwayatlas.uk/glossary/accumulator/)One bet that combines several selections, all of which must win for the bet to pay. [Ante-post](https://eachwayatlas.uk/glossary/ante-post/)A bet placed well before race day, before the final field is known. [Best Odds Guaranteed (BOG)](https://eachwayatlas.uk/extra-places/best-odds-guaranteed-explained/)A policy under which a winning bet is paid at the starting price if that is bigger than the price you took; each bookmaker sets its own conditions. [Cash out](https://eachwayatlas.uk/glossary/cash-out/)Settling a bet early for an amount the bookmaker offers. It is not a withdrawal of money from your account. [Conditions race](https://eachwayatlas.uk/glossary/conditions-race/)A race where weights follow fixed conditions, such as age or past wins, rather than a handicapper's ratings. [Dead heat](https://eachwayatlas.uk/glossary/dead-heat/)Two or more runners finishing level; the stake on that part is shared between them. Check the Tattersalls Rules for the exact method. [Debit card](https://eachwayatlas.uk/pay/credit-card-ban-rule/)A card that pays from your bank balance. UK-licensed bookmakers may not take credit cards (LC 6.1.2). [Decimal odds](https://eachwayatlas.uk/glossary/decimal-odds/)Odds written as the total return per £1 staked, stake included, so 6.0 returns £6. [Deposit](https://eachwayatlas.uk/pay/)Money you add to your betting account. [Deposit limit](https://eachwayatlas.uk/glossary/deposit-limit/)A cap you set on how much you can pay in over a day, week or month. [Early price](https://eachwayatlas.uk/glossary/early-price/)A price offered before the race and fixed when you place the bet. [Each way (E/W)](https://eachwayatlas.uk/each-way/what-does-each-way-mean/)A bet made of two equal parts: one to win and one to place. [Evens](https://eachwayatlas.uk/glossary/odds-on-and-evens/)Odds of 1/1, where the profit equals the stake. [Extra places](https://eachwayatlas.uk/extra-places/what-are-extra-places/)More places paid than the standard terms for a race, on conditions the bookmaker sets. [Fractional odds](https://eachwayatlas.uk/glossary/fractional-odds/)Odds written as a fraction, such as 5/1, showing profit per unit staked. [Free bet (stake not returned)](https://eachwayatlas.uk/extra-places/what-is-a-free-bet/)A bet funded by the bookmaker; winnings are paid but the free-bet stake is not. [Going](https://eachwayatlas.uk/glossary/going/)The condition of the racing ground. [Handicap](https://eachwayatlas.uk/glossary/handicap-race/)A race where weights are set to give each runner a similar chance on paper. [ID verification](https://eachwayatlas.uk/licence/age-and-id-checks-rule/)Checks of your identity and age that a licensed bookmaker carries out. [Implied probability](https://eachwayatlas.uk/glossary/implied-probability/)The chance a price suggests, worked out as 1 divided by the decimal odds. [Lucky 15](https://eachwayatlas.uk/each-way/lucky-15-yankee-each-way-cost/)Fifteen bets from four selections: four singles, six doubles, four trebles and one fourfold. [Non-runner](https://eachwayatlas.uk/each-way/non-runners-and-rule-4/)A horse withdrawn from a race before it starts. [Odds-on](https://eachwayatlas.uk/glossary/odds-on-and-evens/)Odds shorter than evens, such as 1/2, where the profit is smaller than the stake. [Overround](https://eachwayatlas.uk/glossary/overround/)The amount by which the implied probabilities in a market add up to more than 100%: the bookmaker's margin. [Pay by Bank](https://eachwayatlas.uk/pay/)A payment from your bank account through open banking. [Place-only](https://eachwayatlas.uk/racing/win-only-and-place-only-markets/)A market that pays only if the selection finishes in the places. [Place terms](https://eachwayatlas.uk/glossary/place-terms/)The number of places paid and the fraction of the win odds applied to the place part. [Price boost (enhanced odds)](https://eachwayatlas.uk/extra-places/price-boosts-and-enhanced-odds/)A price higher than the bookmaker's normal price on a stated selection, with conditions. [Reality check](https://eachwayatlas.uk/licence/set-a-deposit-limit-or-self-exclude/)A prompt that reminds you how long you have been betting. [Return versus profit](https://eachwayatlas.uk/glossary/return-vs-profit/)Return includes your stake; profit is the return minus the stake. [Rule 4 deduction](https://eachwayatlas.uk/glossary/rule-4-deduction/)A reduction in winnings, in pence in the pound, when a horse is withdrawn. [Self-exclusion](https://eachwayatlas.uk/glossary/self-exclusion/)A request to be blocked from betting; GAMSTOP covers online accounts with Great Britain licensees. [Starting price (SP)](https://eachwayatlas.uk/glossary/starting-price/)The price of a horse at the start of the race. [Unit stake](https://eachwayatlas.uk/glossary/unit-stake/)The stake on one line of a bet; an each-way bet has two lines of it. [Void bet](https://eachwayatlas.uk/glossary/void-bet/)A cancelled bet, with the stake returned. [Wagering requirement](https://eachwayatlas.uk/glossary/wagering-requirement/)Turnover required before bonus winnings can be withdrawn; capped at 10 times from 19 January 2026 (SR 5.1.1). [Win-only](https://eachwayatlas.uk/racing/win-only-and-place-only-markets/)A market that pays on the winner alone. [Withdrawal](https://eachwayatlas.uk/pay/)Taking money out of your betting account. [Yankee](https://eachwayatlas.uk/each-way/lucky-15-yankee-each-way-cost/)Eleven bets from four selections: six doubles, four trebles and one fourfold.

**The short version:** one line here, a full worked article for 22 of the terms, and the question pages for the rest.

## Where to go from here

For the term that started this site, read [what each way means](https://eachwayatlas.uk/each-way/what-does-each-way-mean/). For price formats, see [reading fractional and decimal odds](https://eachwayatlas.uk/each-way/how-to-read-odds/). For offer vocabulary, the [extra places section](https://eachwayatlas.uk/extra-places/) explains free bets, boosts and wagering.