There are many different betting variations that can be taken out with the bookmakers in the UK. Here are some common ones that are horse racing specific bets and with a few that apply to Tote betting only.

Win
Object - to select the winner of the race

Place
Object - to select a horse to be placed (1st, 2nd or 3rd. Sometimes 4th in races with more than 16 runners.)

Each-Way
Object- a Win & Place bet on the same horse

Exacta
Object-to select 1st and 2nd horse in the correct order

Trifecta
Object- to select 1st-2nd-3rd in the correct order

Placepot/Quadpot
Object- to select a placed horse in each of the 6 Placepot/4 Quadpot races

Jackpot
Object- to select a winner in all 6 Jackpot races

Scoop 6
Object- to select the winners of each of the 6 nominated TV races

Quick Pick
If you can't decide which horse to bet on then try a "lucky dip" with a Totaliser "Quick Pick" bet

In different countries, sometimes even at different tracks, there are variations to the above. All should be learned and studied to achieve best value in the betting market.

See also - Basic Horse Racing Betting