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Grand National Betting
The Internet has made placing a bet on the Grand National incredibly easy. You simply need a credit or debit card, a bit of time to fill out an online application, and opinions as to which horse will win.
Creating Your Account
A bookmaker's homepage will generally display a link for new accounts. This will take you to a form you need to complete, similar to making an online purchase – name, address, username and password and the like. Some online bookmakers require a deposit before you can open an account. Others let you register, but require you to fund the account once you've done so. Check on the procedure for the site before you begin.
Funding Your Account
Typically, funding can be as little as £10. When you fund your account, money is transferred from your bank account or credit card and added to your betting account balance. This is not an automated transfer, so it allows you to limit your losses. You can also transfer money back to your bank account or credit card using a similar procedure.
Make a Bet
Once you've funded your account, you can begin to place bets up to your betting account balance. There is usually a minimum bet, though this is never more than £2. To place your bet, choose a horse and then indicate the amount you'd like to bet, known as the stake. The site will give you a confirmation page, which you may want to save. If the horse you chose loses, then you lose the amount you bet on it. If it wins, you get a multiple of your stake. The multiple depends on the horse's odds.
Suppose your chosen horse has odds of 20/1 – twenty to one. If you win, you receive 20 times your stake plus the amount of the stake. So if you bet £10 a horse that wins, you receive 20 x 10 + 10 = £210.
You can also engage in Each Way (EW) betting where you win a certain amount if the horse places in the top 4 or sometimes 5. An Each Way bet is really two bets – a bet to win and a bet to place. Thus a £10EW bet costs £20: £10 for the win and £10 for placing. The odds of winning are the normal quoted odds, but the odds of placing are 1/4 or 1/5 of the quote.