- Types of Horse Racing Bets: Straight Bets and Exotic Bets Horse betting is what makes this event one of the most popular sports in the world. And knowing how to bet on horses can keep you coming back for more. Horse bets can be put into one of two categories; straight bets and exotic bets.
- Exotic Bets or Combination Wagers. Across the board — Three equal Win, Place and Show bets. If your horse finishes 1st, you win all three bets. If your horse finishes 2nd, you win on the Place and Show bets. If your horse finishes 3rd, you win on the Show bet. Exacta — Pick two horses in one race. If they finish 1st and 2nd, in exact order.
- Most horse racing bets can be broken down into two categories. These are straight wagers and exotic wagers. Straight wagers are bets that involve one horse and one specific outcome.
Straight Bets
If #19 wins the race, you still win because of those horses being coupled as “the field” entry. The basic types of wagers online are win, place and show wagering. If you bet on a horse to win, the horse must finish first. If you bet to place, the horse can finish first or second.
Win: The simplest bet you can make on a horse race. A Win bet is an attempt to predict the horse that will win the race. If the horse wins, you will collect on your bet. The odds listed for the horses on the toteboard are the Win odds for each horse. For example, if a horse shows '5' on the toteboard, if you bet him to Win for $2, you will get back $12 (5 times $2 plus your original $2 bet). This $2 payoff of $12 would also be shown on the result payoffs under the Win column (1st column) for the horse when the race is official.
Place: Similar to the Win bet, a Place bet on a horse is a bet that the horse will finish in first or second. If the horse does finish in one of the top two spots, you will collect the amount shown in the Place column (2nd column) for that horse on the result payoffs for each $2 you have bet. If you make a Place bet, note that it does not matter if the horse wins or comes in second, you will win the same amount. This bet has less risk than a Win bet, but also a smaller reward. If you are confident the horse will win the race, you will receive a larger return betting the horse to Win.
Show: Another variety of a straight bet, the Show bet is used when you want to bet that a horse will finish in the top 3 positions in the race. For every $2 bet on the horse to Show, you will collect the amount shown in the Show column (3rd column) for that horse on the results payoffs. Again, if the horse comes in first or second, you will not win any more money than if the horse finishes third. This is the safest of the straight bets but also offers the smallest return. If you are confident the horse will finish better than third, you would have a larger return placing a Win or Place bet.
Combination Straight Bets
Across the Board (Win/Place/Show): This is a combination of the Win, Place, and Show wagers. If you bet a horse 'across the board' you are effectively betting him to Win, Place, and Show. If the horse wins, you collect on all 3 bets. If the horse comes in 2nd, you collect the Place and Show payoffs. If the horse comes in 3rd, you collect on the Show bet only. Stations sports betting app games. Since this is actually 3 bets combined, a $2 bet 'across the board' will cost $6.
Win/Place, Place/Show: Make real money fast online. These are simply 2 bet combinations of Win/Place and Place/Show, respectively. For a $2 bet, they cost $4.
Exotic Bets: Single Race
Exacta/Perfecta/Exactor: One of the simplest single-race exotic bets, the Exacta is the combination of predicting the winning horse and the second-place horse, in order. This will pay more than betting either of the horses to win or place. A $2 bet on an Exacta will pay out the amount shown for an Exacta bet on the wager payoffs after the race is official.
Quinella: Similar to the Exacta, but this does not require the bettor to predict the order of the top two horses. Simply put, the bettor only has to pick the horses which will finish in the top two places, but does not have to predict which of those two will actually win the race. Since this is easier to predict than an Exacta, it also pays less than the Exacta (typically it pays about half of the Exacta payoff).
Trifecta/Triactor: The Trifecta takes the Exacta a step further. It requires the bettor to pick the horses, in order, that finish in the top 3 positions in the race. It is significantly harder to predict than an Exacta, and accordingly will pay out much more for a winning bet. A $2 bet on a Trifecta will pay out the amount shown for the Trifecta on the wager payoffs after the race is official.
Superfecta: The most difficult of the single-race exotics, the Superfecta, requires the bettor to predict the first four finishers, in order. Predicting a Superfecta is very difficult and will always require the bettor to take different combinations of horses so that there are more chances of winning. The payoff for a Superfecta is generally very high, and is typically shown on the wager payoffs based on a $1 bet.
Exotic Bets: Multiple Races
Double: A Double is the simplest type of wager that spans multiple races. It requires the bettor to pick the winner in two consecutive races. Most tracks usually offer an Early Double (Races 1 & 2) and a Late Double (last two races on the card). There are also tracks that offer Double's in the middle of a card. If there is a Double available to be bet on, there will be a note of it on the first race (or leg) of the Double wager. The $2 payoff for a Double will be shown on the results for the second leg of the wager.
Pick 3/Pick 4/Pick 6 (Classix): These bets are all similar to the Double wager, only differing in the amount of consecutive races that a bettor needs to predict the winner. The larger the number, the harder it is to pick, as well as the greater the payoff. For these bets, it is recommended to take several combinations of horses in each race to increase your chances of winning (although this also increases the cost). Many race tracks have at least one or two available Pick 3's and/or Pick 4's on a card. Some tracks also offer one Pick 6 per card. If there is available Pick 3/4/6 to bet on, there will be a note of it on the first race (or leg) of the wager. The payoff for one of these bets will be shown on the results for the last leg of the wager. For Pick 3s and Pick 4s, if nobody has the required number of races correct, they will typically pay out for people who missed one less race. For example, if nobody predicted a Pick 4 correctly, people who had 3 of 4 correct will get paid. In addition, the payoff results would indicate a payoff for 'Pick 4 (3 of 4 correct)'. For a Pick 6, typically the track will also give a small payoff to bettors who had 5 of 6 correct. However, if nobody had all 6 correct, the majority of the Pick 6 pool will be carried over to the next racing day, making the subsequent Pick 6 pool even larger.
Place Pick All: This bet is similar to a Pick-x bet, except that you need a horse to place (come in 1st or 2nd) in each race, instead of to win. With a Place Pick All bet, you must pick a place horse in EVERY race on the card (usually 8 or 9 races).
Of all the sports in existence today, horse racing might have the closest, longest relationship with gambling. Whether you’re a sports betting purist or just looking to have fun on the weekend, you need to understand the hype that surrounds the track.
Be it the lack of media coverage or simply different interests, younger sports bettors are often unfamiliar with how betting on horses works. If that’s the case for you, as they say, “You don’t know what you’re missin’!”
The good news? Betting on horse racing isn’t as intimidating as it might seem at first. While it might be a little more difficult to win than betting on a football game, the payout and the excitement make it all worth it.
Here are six types of bets to know before you get started.
1 – Win, Place, Show
Win, place, or show bets are some of the more common options available online or at the track. If you choose a “win” bet, you’re simply trying to predict the first-place horse. You’ll only get paid if you choose correctly.
If you choose a “place” bet, you get a little bit more leeway. As long as your horse finishes in first or second, you’ll win the bet. Keep in mind that the amount paid out on the bet does not change regardless of if your horse finishes in first or second place.
A “show” bet gives you even more wiggle room. As long as the horse you wagered on finishes in the top three places, you’ll cash in. Again, the payout is the same whether the horse finishes first, second, or third.
In addition to these plays, you can also make a “win-place” or “win-place-show” bet. These are similar to the other bets, but the payouts are different depending on the exact finishing position within the top three.
In what’s known as an “across the board” bet, you’ll select a single horse but will get paid out differently based on where the horse finishes.
If your horse comes in first, you’ll cash out on the “win, place, and show” portion of the bet.
If the horse comes in second, you’ll win the “place and show” part of the bet.
A third-place finish will still give you a win in the “show” portion.
This “across the board” bet is technically three bets, so if you wanted to bet $4 across the board, the ticket would be $12.
2 – Trifecta
Once you’ve mastered the more basic win-place-show bets, you can move on to some more complex plays. The “trifecta” would be the logical next step.
A winning trifecta bet can have a huge payoff, although it isn’t easy to win.
Different Types Of Horse Racing Bets
Don’t worry — there’s another way to make this play that increases your odds.
The most popular way to play a trifecta bet is by “boxing” three or more horses in various combinations. This allows you to choose more horses than just three. It works like this: with 10 horses in the field, you might think horses 1, 2, 3, 4, and 5 have a chance to finish third or better. A five-horse box would cost $30 if there is a 50-cent minimum.
That math works out like this:
- (5 x 4 x 3 x .5)
3 – Quinella and Duet
A quinella bet involves picking two horses. In order to win, they must come in first and second place, although it doesn’t matter which order they finish.
Similar to a trifecta, you can box your bets in order to give yourself a higher chance of winning.
In a quinella box, you choose three or more horses, and if two of the three (or two of the number of you picked) finish first or second, you win!
The catch is that not all tracks offer these types of bets. It’s also important to keep in mind that the more horses you choose, the lower your overall payout will be if you win.
If you think getting the top two exactly right is too much risk, you have the option of the Duet play. This type of wager requires you to accurately choose two of the three place-getters (top-3 finisher), with correct order not important.
4 – Pick 3, 4, 6
These types of bets involve multiple races. A pick 3 bet is when you choose the winner in three consecutive races before the first race begins. In order to cash in on this type of bet, all three horses must win the race.
You might think that a bet like this is nearly impossible to hit, but if you do your homework and find out which horses are the favorites, you’ll find it’s more winnable than you may have anticipated.
A pick 4 is a newer type of bet at most tracks and is even more of a longshot than a pick 3, but the payout might make you think it’s worth the risk.
Keep in mind that choosing longer-shot horses will give you higher payoff than selecting all favorites, although there’s no question it’s more difficult to win.
How much exactly are we talking? If you had wagered just $0.50 on a pick 4 at the 2013 Breeders’ Cup, you would have taken home nearly $30k.
A pick 6 represents one of the most difficult wagers to win but also one of the highest payouts available. If you haven’t picked up on the theme here, in a pick 6, you must correctly choose the winner in six consecutive races.
As with the other types of bets, the play of choosing multiple horses is still available. You’re allowed to select more than one horse in each (or every) leg of your bet. Craps tables near me.
5 – Each Way
An “each way” is considered two separate bets, although they’re placed together.
- The first bet is on the horse to win.
- If your horse wins, you win the bet.
- The second bet is on the horse to place.
- If your choice finishes in the top three, you also win.
For example, if you bet $3 each way on a horse, your total wager would be $6 ($3 on the horse to win, and $3 on the horse to place).
It’s important to consider the odds on this type of bet on both the winning and placing aspect of the wager.
The advantage of an each way bet is, obviously, an increased chance of winning as you have essentially two different ways to win. If there is no big favorite and you can find favorable odds, it might be a good idea to spread out your money.
Types Of Horse Racing Bets Cheat Sheet
6 – Daily Double
The “daily double” is pretty simple to understand.
In the past, the daily double option was only available on the first two races of the day, but nowadays, it’s usually available on any two consecutive races.
While it may not seem that complicated, daily doubles can have huge payoffs if you find a lower-odds horse that has a great day!
Conclusion
Getting into horse racing can be a little tricky at first, but the low-risk, high-reward nature of betting the sport can be a thrill.
Just a few dollars can go quite a long way at the track or betting on horse racing online if you’re able to get lucky and hit on a multiple-leg wager. As with any other sport, plenty of information is available online about the horses you’ll be betting on, so be sure to do your research and give yourself the best chance at a big payday!