This market, as the name suggests, is our prediction on the aggregate total of the winning margins of each race at a meeting. The maximum winning distance for a Flat race is set at 12 lengths while for a National Hunt race it is set at 30 lengths. This also applies should only one horse complete the race. Distances under a length are recorded as follows: Short head = 0.1 of a length, head = 0.2 of a length, neck = 0.3 of a length, half a length = 0.5 of a length, three-quarters of a length = 0.75 of a length.

Here's an example. At a jumps meeting at Aintree, we might price total winning distances at 64-69. As it had been raining non-stop for the previous two days, you might decide to place your spread bet high at 69 for say £2 per length, reasoning that heavy ground can often lead to big winning margins.

In the end the winning distances made up at 78 lengths. Had you gone high at 69 you would have won 9 times your stake: (69 - 78) x your stake = 9 x £2 = £18. But if winning distances had made up at only 60 lengths, the same bet would have lost you 9 times your stake: (60 - 69) x your stake = -9 x £2 = £18.

This market is about the performance of horses in individual races, awarding points according to where they finish. The points structure varies according to how many runners there are in a race, so for races with 11 or less runners the points are as follows: 1st = 50 points, 2nd = 25, 3rd = 10, any other place = 0. Races with 12 or more runners taking part score as follows: 1st = 50 points, 2nd = 30, 3rd = 20, 4th = 10, any other place = 0.

This market gives you the opportunity to back or oppose a horse, something which a traditional fixed-odds betting market does not offer.

Here's how it works in practice. In the 2004 Derby we priced North Light at 9-12 points, reflecting our belief that he might well make the frame. If you had fancied him to do well, you might have bet high at 12 for say £2. The record books show North Light actually went on to win the race and therefore we allotted him 50 points. So, had you gone high at 12 you would have won 38 times your stake: (50 - 12) x your stake = 38 x £2 = £76. But, had North Light not finished in the frame he would have been awarded 0 points, so the same bet would have lost you 12 times your stake: (0 - 12) x your stake = -12 x £2 = -£24.

We pick two horses in a race and predict what the distance between them will be when they cross the line. If you think one horse will beat another then you can place a bet on this market and it doesn't matter where in the field they finish - you are simply having a bet on their performance relative to each other. The maximum distances for the purpose of a match bet is 12 lengths in a Flat race and 15 lengths in a National Hunt race.

In the 2004 Oaks, we pitted Ouija Board against Sundrop in a match bet. We made Ouija Board favourite to finish ahead of Sundrop by between 0-1 lengths.

If you thought Ouija Board was a far classier filly you might have gone high on Ouija Board over Sundrop at 1 length for £5 per length.

In the end Sundrop trailed in 12 lengths behind Ouija Board. So, had you gone high on Ouija Board at 1 length, then your bet would have paid off to the tune of 11 times your stake: (12 - 1) x your stake =11 x £5 = £55. If, however, Sundrop had finished 5 lengths ahead, the same bet would have lost you 6 times your stake (5 lengths plus the 1 length you bought at): (-5 - 1) x your stake = -6 x £5 = -£30.

Note it does not matter where the horses finish in the context of the race: it is simply the distance between them that counts.

Have the horse racing betting experts got it right? How will the favourites perform in each race at a particular meeting? In this market a favourite is awarded 25 points for winning, 10 points for finishing second, 5 points for third and 0 points for any other place. In the event of a race starting with joint favourites, we take the favourite as being the horse with the lower race card number.

Let's look at an example. At an Ascot jumps card consisting of six races, our favourites prediction might be 56-60 points. If you had a good look at the form and decided that the favourites should perform better than we predicted, you might bet high (buy) at 60 for a stake of say £2.

At the end of the day, two of the favourites had won, two came second, one ran into third while the other was unplaced. On the basis of our scoring system, the result (make up) was 75. So, had you gone high at 60 you would have won 15 times your stake: (75 - 60) x your stake = 15 x £2 = £30. But, if the favourites index had made up at only 50 points, the same bet would have lost you 10 times your stake: (50 - 60) x your stake = -10 x £2 = -£20.

This is based on the same principle as the Favourites Index but the favourites are those printed first in the betting section below each race card in the Racing Post (i.e. the horses the Racing Post betting forecast predicts will start favourite). These horses are awarded points as follows: 1st = 25points, 2nd = 10, 3rd = 5, any other place = 0. If there are joint favourites the first named horse in the Racing Post is deemed to be the favourite.

Here's an example. In a race meeting at Lingfield, our opening prediction for Racing Post Favourites might be 66-70. If you studied the Racing Post and believed their favourites had a better chance than we predicted you would bet high (buy) at 70 for £2.

In the end two of the Racing Post favourites won, but none of the others made the frame. So, on the basis of our scoring system, the market made up at 50. Had you gone high at 70 you would have lost 20 times your stake: (50 - 70) x your stake = -20 x £2 = -£40. However, if the Racing Post favourites index had resulted in 85 points, the same bet would have won you 15 times your stake: (85 - 70) x your stake = 15 x £2 = £30.

For each race meeting we offer markets on how an individual jockey will perform. This is similar to the favourites markets with 25 points awarded for a winning ride, 10 for a second, 5 for a third and 0 points for any other place. If the jockey on whom the market is offered does not ride his intended mount in a race, but the horse still runs, then the horse's finishing position still counts as if it had been ridden by the named jockey.

Here's an example. At a meeting at Epsom, Jamie Spencer has six rides. We might predict that he will get between 41-44 points based on the scoring system above.

If you viewed his rides as particularly strong and believed he might have two winners with a good chance of others finishing in the frame you would bet high at 44 for say £2 per point.

Here are the results of Spencer's six rides:

Race 1 Unplaced (0 points)
Race 2 Unplaced (0)
Race 3 3rd (5)
Race 4 1st (25)
Race 5 Unplaced (0)
Race 6 1st (25)
Total = 55 points

With these results had you gone high at 44 you would have won 11 times your stake: (55 - 44) x your stake =11 x £2 = £22. But, if Jamie Spencer had only managed one winner and failed to make the frame on the other five rides, the make-up would be 25 points which, with the same bet, would have lost you 19 times you stake: (25 - 44) x your stake = 19 x £2 = -£38.