Don’t panic, it’s easy. First, review your racecard and choose your horse. Next, choose your style of betting. You can bet with a bookmaker where you will be offered fixed odds (the likelihood of your horse winning) or place a bet with the tote, where your money will be added to their country-wide pool and you will receive a proportionate cut if you win.
The ‘longer’ the odds (where the difference between the first and second numbers is greater, eg 100/1 rather than 7/4) the less chance the bookmakers think the horse has of winning the race – but the more you will take home if it does. Favourites will have ‘shorter’ odds (where the difference between the first and second numbers is smaller, eg 2/1) and show the bookmakers think the horse has a greater chance of winning the race.
If you like the horse, but are not confident of the win, go ‘each way’. This means you will win if your horse is ‘placed’ (placings vary per race, depending on the number of horses competing - check before you place your bet).
Choose your best viewing position, get ready, and cheer like mad. After the race, collect your winnings (!) and celebrate in style…