Wonder no more, with our step-by-step guide to all the jargon.

TIC-TAC
The secret sign language used by bookmakers at racecourses to suggest how a horse is performing in the market. If you can decipher the signals, you could make a mint.

ON THE NOSE
The placing of a bet on your chosen horse to win only. There's nothing in this game for second or third - if it doesn't come first, you have to take it on the chin.

STAKE
Not the steak you have with chips and peas, or even the sort that gives vampires nightmares, but the readies you are willing to place on your favourite nag.

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YANKEE
Forget the little character who went riding on a pony, this is a multiple bet consisting of 11 wagers (six doubles, four trebles and one accumulator). It's doodle dandy when it comes off, though.

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BANKER
Dead cert, nailed on, everyone a winner - except of course, they're not. In theory, this should be the horse you can stake your house on - in practice it often ends in a messy divorce.

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WEIGHED IN
Or wade in, if you prefer. This is where jockeys find out if that extra pea at dinner has made them too fat to ride their horse. Can also refer to the bookie weighing you in with cash (a rare occurence).

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DOUBLE CARPET
Bookies' slang for 33/1. In prison, a three-year term was known as carpet. Lester Piggott won the 1954 Derby on a double carpet, but landed in jail when the rug was pulled from under his tax affairs.

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FLUTTER
An alternative name for gambling. See also nibble and wager. Commonly preceded by the term 'I've had a little' - about as truthful as the "I'm just popping in for a quick half" line.

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TRAINER
The person who prepares a horse for a race, making sure it is in tip-top shape. Often well-heeled and, when in the winner's enclosure, the life and sole of the party.