All variations of Basic Horse Racing bets stem from the premise that you will receive payouts based on the first, second, third and fourth place finishers.
- Like any type of gambling, there are different horse betting types depending on the race taking place. Please refer to this page for the different horse betting types accepted at our racebook. Common horse betting types are to win, place, show, exactas, quinellas, daily doubles, trifectas, superfectas and pick 3.
- There are four different types of Trifecta Bets you can place, a straight, key, box, or wheel. Even the most seasoned bettors don't always understand how each work. Let us break each one down: Straight Trifecta Horse Racing Betting.
There are many betting types to choose from when placing a wager. From singles to multiples, we have a list of some of the most popular types of bet. Betting Types Single. Arguably the most common betting type. A straight win bet, placed on a single event. A single bet on two outcomes in different events. In most cases, predicting the dividend is near impossible. Our bet calculators can help you compute the exact cost of various horse racing bet types. The use of free bets for horse betting. Many bookmakers offer free bets for horse betting. However, most bonus bets are only available for straight horse racing bets—win, place and each way bets. When it comes to betting on horse races, before you even place a bet on a horse you need to decide what type of bet to place. As the bets you can make range from a simple bet on a single horse in one race to choosing the winning horses for six consecutive races, you.
Win Bet - You win by selecting the horse that finishes first (to win).
Place Bet - You win by selecting the horse that finishes first or second (to place).
Show Bet - You win by selecting the horse that finishes first, second or third (to show).
Accross the Board Bet - You are wagering on a horse to Win, Place and Show. You receive one ticket for all three wagers. If your horse wins, you receive Win, Place and Show payouts; if your horse finishes second, you receive Place and Show payouts; and if your horse finishes third, you receive the Show payout. This type of bet might also include any two or three horse combinations of win, place and show bets such as win/show, win/place or place/show.
Exotic Horse Racing Bet Types
Quinella - You win by selecting the first two finishers, in any order, in a designated race.
Exacta - You win by selecting the first two finishers, in exact order, in a designated race.
Trifecta - You win by selecting the first three horses in the exact order of finish, in a designated race.
Superfecta - You win by selecting the first four horses in the exact order of finish, in a designated race.
Daily Double - To win, you must select the winners of two designated, consecutive races by placing the wager before the first of the two races.
Pick-3 or Pick-4 - To win you must select the correct first place finisher in each of the races that make up the Pick-3 or Pick-4 ticket.
Pick-Six - To win you must select the correct first place finisher in each of the races that make up the Pick-Six ticket.
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.
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.
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.
Types Of Horse Race Bets
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.
6 – Daily Double
Types Of Horse Bets Trifecta
The 'daily double' is pretty simple to understand.
Best Online Horse Betting Sites
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!
Daily Double - To win, you must select the winners of two designated, consecutive races by placing the wager before the first of the two races.
Pick-3 or Pick-4 - To win you must select the correct first place finisher in each of the races that make up the Pick-3 or Pick-4 ticket.
Pick-Six - To win you must select the correct first place finisher in each of the races that make up the Pick-Six ticket.
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.
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.
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.
Types Of Horse Race Bets
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.
6 – Daily Double
Types Of Horse Bets Trifecta
The 'daily double' is pretty simple to understand.
Best Online Horse Betting Sites
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.
Types Of Horse Betting Wagers
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!
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