In this paper, we present a novel algorithm for fast tracking of generic objects in videos. The algorithm uses two components: a detector that makes use of the generalised Hough transform with pixel-based descriptors, and a probabilistic segmentation method based on global models for foreground and background. These components are used for tracking in a combined way, and they adapt each other in a co-training manner. Through effective model adaptation and segmentation, the algorithm is able to track objects that undergo rigid and non-rigid deformations and considerable shape and appearance variations. The proposed tracking method has been thoroughly evaluated on challenging standard videos, and outperforms state-of-theart tracking methods designed for the same task. Finally, the proposed models allow for an extremely efficient implementation, and thus tracking is very fast.