What is a win bet?
A win bet is a wager on a horse to win a race outright. In order for this bet to payout, the horse must finish in first. For horse racing betting, this is by far the easiest wager to make. A win bet is our top recommendation for those just starting out and looking to get a feel for horse racing betting.
What is a place bet?
To win a place bet, a horse must finish in the first few places. This is one of the most common wagers in horse race betting and perhaps the easiest to understand. The bet covers two outcomes so there’s slightly less risk involved – though this also means the payouts are often a little lower.
What is a show bet?
Similar to a place bet, show bets are wagers on a horse to finish in a top-three position. If a horse finishes in first, second, or third, the bet will payout. This bet type offers multiple ways of winning, so like with the place bet, a lower payout can be expected for a win.
What is an exacta?
An exacta is a bet on the horses to finish first and second. To win this bet, both the chosen horses must finish in the correct order. This bet type is one of the easiest for beginners to understand and is a nice step up from a straight bet.
The exacta is an exotic bet, meaning that it’s a wager on multiple horses unlike the classic win, place, and show options. Exotic betting is very popular for horse racing because, in general, much more money can be made from them. Other exotic bets include the trifecta, superfecta, quinella, daily double, pick 3, pick 4, and so on.
What is a trifecta?
Sometimes referred to as a ‘triple’, a trifecta is a wager on the horses to place in first, second, and third. The difference between a trifecta and a show bet is that, for a trifecta, all predictions must be made in the exact order. If you feel confident with the win, place, and show bets, then a trifecta could be another nice introduction to exotic bets.
What is a superfecta?
A step up from a trifecta, a superfecta is a wager on the top four places. Be warned, this is no easy task. In order to win this bet, every horse must be chosen in the correct finishing order. Any other finishing result will end in a loss.
What is a quinella?
A quinella is often described as a simplified exacta. To win this bet, simply predict the two horses that will finish in first and second place. This can be in any given order, so it’s slightly easier to achieve than other exotic bets. One thing to know is that this bet type can often sit in a separate betting pool with a different payout to exactas, trifectas, and superfectas.
What is a daily double?
A daily double is a wager to predict the winning horses in two consecutive races. Predicting two straight winners is no easy feat for any race, so the odds are often very attractive. For this reason, a daily double is one of the most popular horse racing bets around. One thing to bear in mind is that certain tracks will only have daily doubles available once or twice a day and are sometimes reserved for the most evenly matched races.
What is a pick 3?
A pick 3 is a wager on the winner of three consecutive races. To win, all three selections need to be successful. It’s a simple concept, though that doesn’t stop this bet from being incredibly difficult to predict. This bet can be extended into a pick 4, pick 5, or pick 6. These are increasingly more difficult to win, and so also offer a highly lucrative payout. It’s good to bear in mind that each increasing pick will entail more bets and a bigger bankroll.