Horse racing & greyhounds

Racing has its own language and money rules, and a back-and-lay market makes them easy to see. This section sets out the terms that decide what a racing bet pays, on an exchange as well as at a bookmaker.

Rule 4 deductions, non-runners, ante-post prices and starting price are the terms that move a return. With each-way, the stake is laid twice, once to win and once for a place, so the outlay doubles. Odds, tips and predictions for horses and greyhounds close the list.

Racing sits apart for duty purposes. Operators pay General Betting Duty of 15% today; the remote rate becomes 25% from 1 April 2027, yet remote bets on UK horse racing are kept at 15%, and pool betting carries a duty of its own.

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