Horse Racing Bookies Guide
By the MyHorseBets team · Updated · 6 min read
Every licensed bookmaker will take your bet on a horse race. What separates one horse racing bookie from another is the small print: the concessions they pay on racing, the each way terms they offer and how they treat your bet when something unexpected happens, such as a non-runner or a horse being beaten on the line.
This guide explains those concessions one by one, shows what each is worth with our calculators and suggests which matter most for the way you bet. We don’t rank bookmakers or name a “best” one: the table below lists what to compare, and you check each firm’s own terms on the day you bet. If you’re still deciding whether to bet with a bookmaker, an exchange or the Tote, start with our guide to horse racing betting sites.
First check: is the bookmaker licensed?
Any bookmaker taking bets from customers in Great Britain must be licensed by the UK Gambling Commission, and you can look any firm up on the Commission’s public register. Everything below assumes a licensed bookmaker. An unlicensed site can’t be trusted to honour any concession it advertises.
What to compare: a checklist, not a ranking
| Criterion | What to check | Where to check it | Why it matters |
|---|---|---|---|
| UKGC licence | The firm appears on the Gambling Commission public register for the brand you are using | Gambling Commission register | Without a licence there is no UK protection for your money or your complaint |
| Best Odds Guaranteed | Which races it covers, from what time, and any cap on the extra winnings | The bookmaker’s BOG terms page | Pays the bigger of your price and the starting price on a winner |
| Each way terms | Places paid and the fraction of the odds, race by race | The bookmaker’s each way terms page | Changes what the place part of an each way bet is worth |
| Extra places | Which races, for how long and whether it is for new or all customers | The offer’s own terms | Matters most on big-field handicaps and for bigger-priced horses |
| Non-runner no bet | Which races and festivals, and whether it covers each way bets | The offer’s own terms | Removes the main risk of betting ante-post |
| Rule 4 | Applied the same way at every bookmaker, so check your settlement rather than the firm | Rule 4 calculator | Late withdrawals take money off winning bets placed before the market moved |
| Payments and withdrawals | Deposit and withdrawal methods, fees, limits and how long a payout takes | The bookmaker’s payments page | A good price is no use if getting paid is slow or costly |
| Account limits | Stake limits and whether winning accounts are restricted | The bookmaker’s terms and conditions | Some firms limit the stakes they accept from winning accounts |
Method. The criteria come from the concessions explained below and from the Gambling Commission’s rules for licensed operators. We have not scored or ranked any bookmaker, and we haven’t verified any bookmaker’s current terms, which change often. Where we link to a bookmaker in future, the link will be marked as an advertisement.
The racing concessions explained
Best Odds Guaranteed (BOG)
If you take a price before the race and the horse’s official starting price (SP) turns out bigger, a bookmaker offering Best Odds Guaranteed pays you at the bigger price. Back a horse at 4/1 in the morning, see it go off at 6/1, and you’re paid at 6/1 if it wins. If the SP is shorter than your price, you keep your original price.
BOG usually applies to UK and Irish racing, often only from a certain time on the morning of the race, and sometimes with a cap on the extra winnings or exclusions for some accounts. Read the terms. For anyone who bets in the morning, BOG is the single most valuable concession.
Each way terms and extra places
An each way bet is two bets: one on the horse to win and one on it to place. The place part is paid at a fraction of the odds, and how many places count depends on the race. These are the standard UK terms:
| Race | Runners | Places paid | Place odds |
|---|---|---|---|
| Any race | 2 to 4 | Win only | None |
| Any race | 5 to 7 | 2 | 1/4 |
| Non-handicap | 8 or more | 3 | 1/5 |
| Handicap | 8 to 11 | 3 | 1/5 |
| Handicap | 12 to 15 | 3 | 1/4 |
| Handicap | 16 or more | 4 | 1/4 |
Bookmakers often go beyond these terms on big races by paying extra places: five, six or more places in a big-field handicap or the Grand National. An extra place is worth most to each way backers of bigger-priced horses, because those are the horses most likely to finish just outside the standard places. Our each way calculator works out both parts of the bet at 1/4 or 1/5 odds.
Non-runner no bet (NRNB)
A normal ante-post bet, placed before the day of the race, is lost if your horse doesn’t run. Under a non-runner no bet concession your stake is returned instead. Bookmakers typically offer NRNB in the run-up to big meetings such as the Cheltenham Festival. If you like to bet early to get a bigger price, NRNB removes one of the biggest risks of doing so.
Rule 4 deductions
When a horse is withdrawn after the betting market has formed, the remaining horses have a better chance of winning, so bookmakers take a deduction from winning bets placed before the withdrawal. This is Rule 4, and the size of the deduction depends on the price of the horse that came out. It applies at every bookmaker, so it isn’t a reason to choose one firm over another, but it is a reason to check your settlement. Our Rule 4 calculator shows the current deduction table and what it takes off your winnings.
Lucky 15 and multiple bet bonuses
A Lucky 15 is 15 bets on four selections: four singles, six doubles, four trebles and a four-fold. Many bookmakers add bonuses, such as double the odds if only one selection wins, or a percentage bonus if all four win. The bonuses vary from one bookmaker to the next, and some apply only to win bets or only to certain races. Our Lucky 15 calculator lets you switch those bonuses on and off to see what they add.
Dead heats
When two horses finish level, a bookmaker pays half the stake at full odds and loses the other half, or a smaller share for a three-way dead heat. Dead heat rules are standard across bookmakers, but it’s worth knowing why your return looks lower than expected. Our bet calculator handles dead heats on any selection.
Which concessions matter for the way you bet
- You bet in the morning or the night before: Best Odds Guaranteed comes first. Check what time it starts and whether it is capped.
- You bet each way on bigger-priced horses: look for extra places on the big handicaps and compare the place terms on your race, not just the odds.
- You bet ante-post on the big festivals: non-runner no bet is worth more than a slightly bigger price without it.
- You bet Lucky 15s, Yankees and other multiples: compare the bonuses, and check whether they apply to each way bets.
- You bet bigger stakes: read the maximum payout rules, and keep in mind that bookmakers can limit the stakes they accept on an account.
Having accounts with two or three licensed bookmakers, and checking an odds comparison site before every bet, lets you take the best combination of price and concessions on each race.
Check the settlement yourself
Concessions only help if they’re applied, so keep a record of your bets and check them against what you were paid. Our calculators settle every common bet the way bookmakers do:
- Each way calculator for win and place parts.
- Rule 4 calculator for late withdrawals.
- Lucky 15 calculator for Lucky 15s, with optional bonuses.
- Bet calculator for everything else.
Betting always carries a risk of loss and no tipster, system or staking plan can guarantee a profit. Only stake what you can afford to lose, and set a budget before you start. Gambling responsibly.