Modern bookmakers offer a wide range of betting markets. The most common selections start with a single bet: one stake on a single event outcome, such as a team to win a match.
Each-way bets are commonly used in horse racing. They consist of two equal stakes: one for the selection to win, and one for it to finish in a placed position, usually at a fraction of the win odds.
An accumulator links two or more selections into one bet. Every selection must win for the bet to pay out. Returns can be higher because odds multiply, but risk increases with each leg.