Betting on Horse Races

Betting on the Race

Horse Racing has been around for many years and fans of the sport love to place bets on their favorites. Horse Races have many, many options when it comes to placing bets. Horse Racing is one of the few sports that have a plethora of betting options. Bettors will find they have several traditional options for betting, as well as exotic betting options.

However before one can place a bet on horse races, they need to understand the terminology as well as how they can profit from each type of bet. Understanding the terms and betting options will help bettors make the most of their wagers. Below is a guide on the various types of horse racing bets.

Traditional Horse Racing Betting Wagers

WIN: A "Win Bet" is when a wager is placed on a horse to finish first. This is a simple bet where the player collects if the horse they choose wins the race.

PLACE: A "Place Bet" is when the wager is placed on a horse to finish at least second. If the horse finishes in first or second place, the player collects.

SHOW: A "Show Bet" is when the bettor places a wager on a specific horse to finish in at least third. So long as the horse "shows" by finishing in first, second or third place, then the bettor will collect.

ACROSS THE BOARD: This is a combination bet, sort of like a "Show Bet". If the chosen horse finishes in first, second or third, the bettor collects, but there are higher payouts for higher finishes. For example, you might get 4x your wager for a 3rd place finish, 8x for second place and 15x for 1st.

WIN-PLACE: A "Win-Place" is a combination bet, sort of like a "Place Bet". If the chosen horse finishes in first or second, the bettor collects, but there is a higher payout for 1st place than 2nd.

Exotic Horse Racing Betting Wagers

Exotic horse race betting is more involved. Several factors have to fall into place in order for the bettor to win.

EXACTA: Also known a "Exactors", this is a bet placed on two horses to finish in first and second place, in a certain order. Those who are skilled handicappers really like this type of horse race bet as they can earn a very large payout.

QUINELLA: Like an "Exacta" horse race bet, where the bettor selects two horses to finish first and second, but not in any particular order. So long as those two horses finish in the top two positions, the bettor collects.

TRIFICTA: When a bettor wagers on three horses to finish first, second and third in an exact order. If they all come in the top three positions, but not in the chosen order, the bettor does not win.

SUPERFECTA: A wager where four horses are chosen to finish in an exact order of first, second, third and fourth. They must finish in the specified order for the bettor to collect.

Multiple Race Horse Racing Betting Wagers

Multiple horse race bets take place when a bettor wagers on more than one horse race on a single ticket. All selections must be won in order for the bettor to collect.

DAILY DOUBLE: This type of bet usually takes place on the first two races of the day, or the last two races of the day. This requires the bettor to pick the first place winners of two consecutive races. If both picks win, the bettor collects.

PICK 3: Also known as a "WIN 3", this type of bet requires the bettor to pick the first place winners of three consecutive races. If all three picks win, the bettor collects.

PICK 4: Also known as a "WIN 4", this type of bet requires the bettor to pick the first place winners of four consecutive races. If all four picks win, the bettor collects.

PICK 6: This type of bet requires the bettor to pick the first place winners of six consecutive races. If all six picks win, the bettor collects.