Forms of Wagering

The whole world has been betting on horse races since horses have been running. Placing wagers on the outcome of formal horse races is not only fun but profitable as well if you know what you’re doing and how to beat the odds.

Horse racing beginners have a lot to catch up to and this article will provide the necessary information for users to learn the ins and outs of the trade. We will provide all key information that rookies will need to enjoy a day or two at the races—maybe even more. These contents will mainly highlight the basic terms used in horse racing, wagers, and more. Take the time to ingest the basics of horseracing before placing any wagers to fully utilize thrills and rewards the activity can furnish.

Those heading for the track for the first time or their selected online sports betting site will need a program or a racing form that will serve as a guide. These are available for purchase at any physical tracks or through the site’s page for those betting over the Internet.

For those who studies the racing form and looked at the different statistics, it is then time to place wagers. One key feature about betting: unlike other forms of wagering, users do not play against the house when betting on horse races. Horseracing is actually a competition with other betting participants around. This is one of the few reasons why winning possibilities are at a higher rate here. When competing against each other, it is wise to invest the time necessary to further hedge opportunities.

Types of Bets

Horseracing bettors should also be aware of the types of bet they can place on a given race. Here are some of the most popular variations used by aficionados:

  • Straight Bets – With straight bets, players place wagers on one horse to do a specific thing. Win first, finish within the top two, or show. Straight bets require a minimum amount, so those who wish to place wagers must be aware of this. Under straight bets, there are three types of bets available:
    • Win – If the horse finishes in the number one spot
    • Place – If the horse finishes first or second
    • Show – If the horse finishes within the top three places.
  • Exotic Bets – Some users like to add a little twist to their bets; hence the term exotic. These offer a chance to turn a small amount of wagers into a much larger amount of cash.
    • Exacta – Players win if they select the first and second place horses in a race in the exact order.
    • Trifecta – Players win if they choose the first second and third place horses in the correct order of finish.
    • Superfecta – Players win if they correctly predict the horses that will place first, second, third, and fourth in the correct order.
    • Daily Double – These require players to pick the winner of two consecutive races before the running of the first race in the sequence of races. Daily doubles are typically offered on the first and last two races of each racing card.
    • Pick 3 – Bettors win if they select the winner of three consecutive races. The bet is required to be places prior to the running of the first race in the sequence.
    • Pick 4 – Bettors win if they select the winner of four consecutive races. The bets must be placed prior to the running of the first race of the pick-4 sequence.

Horseracing Glossary

  • Across the Board – A win, place, and show bet on the same horse.
  • Box – An exotic bet where all possible combinations are covered for a group of two or more horses.
  • Key Horse – The primary horse used in exotic bets. Horses may be keyed to win, place, or show.
  • Pool – The total of all money bet on a specific wager type.
  • Probable Payoffs – The current exotic wager payoffs, from all possible winning horse combinations, from active betting pools.
  • Wheel – The selection of one horse in conjunction with betting every possible combination with that horse in an exotic wager.
  • Will Pays – The actual payoffs of exotic multiple race wagers (Daily Double, Pick 3, and Pick 4), shown before the final race, of all possible winning horse number combinations.