Horse Racing
Horse Racing Wagers
From the moment that the first horse leaves the gate, until the very last one has crossed the finish line, a thoroughbred race is fun and exciting. Equally as exciting, is being able to wager on a winning horse. It is the stuff that dreams are truly made of.
Some people bet on hunches or just use pure luck. Perhaps a horse’s name is that of your great-uncle or sparks a childhood memory; those are the horses you have to bet on, no matter what the odds.
There are factors, however, that can and will determine the winner of a horse race. The horse’s overall health, its recent standings or turf condition at the track can all play a role in whether or not a horse will win. Serious handicappers may put big money on simple bets based on these factors, but most veterans will opt for intermediate or advanced betting, using exactas, quinellas and superfectas. The following, is a guide to the different types of bets offered at a horse race. Once you learn how some of the following bets work, who knows? You could be wagering along side the very best and it may just pay off.
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Simple Bets
Win — This is the easiest and most common bet to make. When you put money on a horse to win, the horse must come in first in order for you to collect a prize. The money you collect will be based on the odds issued for your horse at post time.
Sample bet: Once the race has ended, the track’s tote board will display the value of winning tickets relative to a $2 wager. For example the board may look like this:
Horse Win Place Show
1st 7 9.00 5.00 3.60
2nd 2 4.00 3.00
3rd 4 3.40
If you put $1 to win on a horse #7, you would collect $4.50.
Place – Another easy, common bet, putting money on a horse to place will result in a win if your horse comes in either first or second. Remember if your horse comes in first, you will only collect on the place payout.
Sample bet: Once the race has ended, the track’s tote board will display the value of winning tickets relative to a $2 wager. For example the board may look like this:
Horse Win Place Show
1st 7 9.00 5.00 3.60
2nd 2 4.00 3.00
3rd 4 3.40
If you put $2 to place on a horse #7, you would collect $5.00. If you put $1 to place on a horse #2, you would collect $2.00.
Show – Like win and place bets, show is an easy and safe bet, but often yields a low payout. Putting money on a horse to show will result in a winning ticket if your horse comes in either first, second or third. Again, if your horse comes in first or second, you will only collect on the show payout.
Sample bet: Once the race has ended, the track’s tote board will display the value of winning tickets relative to a $2 wager. For example the board may look like this:
Horse Win Place Show
1st 7 9.00 5.00 3.60
2nd 2 4.00 3.00
3rd 4 3.40
If you put $1 to show on a horse #2, you would collect $1.50. If you put $2 to show on a horse #4, you would collect $3.40.
Combination (win, place and/or show): It is always fun to play a combination of win, place and show bets. While these bets will yield a higher payout, they will often cost more money.
Sample bet: Once the race has ended, the track’s tote board will display the value of winning tickets relative to a $2 wager. For example the board may look like this:
Horse Win Place Show
1st 7 9.00 5.00 3.60
2nd 2 4.00 3.00
3rd 4 3.40
If you put $2 to win and place on horse #7 (the cost of the bet would be $4 or $2 per post), you would collect $14 ($9 + $5). If you put $6 to win, place and show on a horse #2 (the cost of the bet would be $18 or $6 per post), you would collect $21 ($4(3) + $3(3)).
Intermediate Bets
Exacta (also called a Perfecta) – When playing an exacta, you bet on which horses will come in first and second in a particular race. This, of course, is riskier than a straight bet because if your horses do not finish first and second, in the order you chose, you lose the bet. For example, if you play and exacta #7, #5 and the #5 horse wins and the #7 comes in second, you lose the bet. A good way to test the waters with an exacta is to pair it up with a straight bet. Here’s an example:
Sample bet: Once the race has ended, the track’s tote board will display the value of winning tickets relative to a $2 wager. For example the board may look like this:
Horse Win Place Show
1st 7 9.00 5.00 3.60
2nd 2 4.00 3.00
3rd 4 3.40
Exacta pays: 36.40
If you put $2 to win and place on horse #7 (the cost of the bet would be $4 or $2 per post), you would collect $14 ($9 + $5). If you played a $2 exacta (total bet cost $2) on #7 and #2, you would collect $36.40, for a total of $50.40. The total cost of your bet was $6.
By pairing up the exacta with a straight bet, your odds of winning are higher. You may have faith enough to put $2 on the #7 to win and place, but you may not be as confident about the #2 horse. Pair it up in an exacta and the result could pay off.
Quinella – When playing a quinella, like the exacta, you bet on which horses will come in first and second in a particular race. However, it does not matter which of your two horses finishes first. This is a safer bet than the straight exacta, but costs more money.
Sample bet: Once the race has ended, the track’s tote board will display the value of winning tickets relative to a $2 wager. For example the board may look like this:
Horse Win Place Show
1st 7 9.00 5.00 3.60
2nd 2 4.00 3.00
3rd 4 3.40
Exacta pays: 36.40
If you put a $2 quinella on the #2 and #7 (the cost of the bet would be $4), you would collect $36.40 regardless of whether the #7 or #2 came in first, as long as they both finish in the top two.
Quinella Box (Exacta Box or Perfecta Box) – With this bet you can also play more than two horses. As long as any of your horses finish first and second in a particular race, you win the bet. However, the more horses you play, the more expensive the bet. For example, A $2 box of three horses would be (3 x 2 x 2) = $12. A $2 box of four horses would be (4 x 3 x 2) = $24.
Sample bet: Once the race has ended, the track’s tote board will display the value of winning tickets relative to a $2 wager. For example the board may look like this:
Horse Win Place Show
1st 7 9.00 5.00 3.60
2nd 2 4.00 3.00
3rd 4 3.40
Exacta pays: 36.40
If you put a $1 quinella box on the #2, #7, #4 and #11, you would collect $18.20, but the cost of your wager would have been $12. So, the more horses you add, the payoff may not be as great.
Quinella (Exacta or Perfecta) Wheel or Key – The quinella wheel is similar to the quinella box except when you are playing a quinella wheel, you must determine certain post finishes, usually win or place. These bets are riskier than the quinella box wager, but are often less costly.
Sample bet: Once the race has ended, the track’s tote board will display the value of winning tickets relative to a $2 wager. For example the board may look like this:
Horse Win Place Show
1st 7 9.00 5.00 3.60
2nd 2 4.00 3.00
3rd 4 3.40
Exacta pays: 36.40
If you played a $2 quinella wheel with #7 on top with the #2, #4 and #11, you would collect $36.40 (the cost of the wager would have been $6). However, the #7 horse had to finish fist in order to win the quinella.
Trifecta (also called a Tricast) – A trifecta is similar to an exacta except that you bet on which horses will come in first, second and third in a particular race. For example, if you play a trifecta #7, #5, #4 and the #5 horse comes in fourth, you lose the bet.
Trifecta (Tricast) Box – Like the quinella, if all three of horses finish in the top three, in any order, you win. Also similar to the quinella box, you can play as many horses as you wish.
Trifecta (Tricast) Wheel or Key – The trifecta wheel is similar to the trifecta box except when you are playing a trifecta wheel, you must determine certain post finishes, usually win. These bets are riskier than the trifecta box wager, but are often less costly.
Sample bet: Once the race has ended, the track’s tote board will display the value of winning tickets relative to a $2 wager. For example the board may look like this:
Horse Win Place Show
1st 7 9.00 5.00 3.60
2nd 2 4.00 3.00
3rd 4 3.40
Exacta pays: 36.40
Trifecta pays: 98.20
If you put a $2 trifecta wheel with #2 on top with the #7and #4, the cost of the wager would have been $4). However, you would have lost the bet because #2 did not finish first.
Advanced Bets
Superfecta – The superfecta is played by picking the first four horses to finish in exact order. Superfecta boxes, key and wheels may also be available for the superfecta.
The Daily Double – Allows you to wager on the winners of two consecutive races.
Pick 3 or Triple Sweep – Allows you to wager on the winners of three consecutive races.
Pick 6 – Allows you to wager on the winners of six consecutive races.
The Daily Double – Allows you to wager on the winners of two consecutive races.
There are many different ways to wager on a horse race and many ways to maximize your earnings. If you’re a novice, start with some simple bets before moving onto our suggested intermediate bets and, of course, don’t try any advanced bets unless you are confident that you know what you are doing. As with any sports betting, there is never a “sure thing” in a horse race, so bet wisely.
Be aware that the above referenced terms vary from track to track, country to country and among gambling and fantasy websites. Some have minimum wagers as low as .10 and as high as $2. Be sure to read the rules at your particular venue before placing a bet.
Until next time, good luck!
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