You will find that there are a large number of horse racing bets that can be made at an online racebook. Some of these bets are beneficial while others are similar to trying to win the lottery. To be successful at horse race betting you should become familiar with the 5 best horse racing bets.
1 – The Win Bet
Even after all the years that horse race betting has been available, the straight win bet is still the best wager you can make. It is a bet that honestly rewards the smart handicapper. To cash this wager you must pick the winner of a race and nothing more. There are no exotic ticket combinations to consider, no fancy boxes or wheels. Just pick the horse you like and put your money down.
The advantages of betting to win start with the cost of the ticket. In most cases you can bet a minimum of $2 on a horse to win. Other bets like a trifecta or a superfecta can cost much more depending on how you choose to play them. Another advantage that makes the win bet one of the best is that it requires a straightforward handicapping approach. You can analyze the race from the standpoint of deciding which is the best horse in the field. Other bets require you to focus on multiple horses or multiple races.
Win betting also offers you the opportunity to decide how much return you want in exchange for your risk. You are in control. The odds on each horse are determined by the betting public, yes, but you can decide if those odds are acceptable to you.
2 – The Daily Double
The Daily Double was the first exotic bet introduced in horse racing. Race tracks were looking for a way to maintain the interest of bettors. They invented the Daily Double to give players a chance to increase their profits by picking the winner of two consecutive races. It is believed that the Connaught Park racetrack in Ottawa was the first to offer the bet in 1931.
Originally, the Daily Double required bettors to pick the winners of the first two races on the card. Today, may tracks offer a rolling double that begins with the first race and continues with every two races on the card: races one and two, two and three, and so on.
To win the the Daily Double is a challenge, but the handicapping is just as straightforward as that for win betting. You only have to pick the horse in each race that you think you can win. The minimum bet for a Daily Double is $2 at most race tracks and online racebooks, although a very few do offer a $1 Daily Double.
3 – The Exacta
The Exacta bet is the best exotic wager that you can make in horse racing. It requires you to pick the first two finishers of a race in exact order, hence the name. This type of exotic bet is somewhat simpler to win than some of the other exotics which can involve four horses or six races.
A great thing about the Exacta is that most online racebooks offer the bet for a $1 minimum. That means that you can box your selections for $2, the same price that you would pay for a single win wager. A box means that you play your two selections in both positions. In other words, it won’t matter which of the horses that you have picked runs first or second as long as they both finish in the top two. Most players like to box this bet.
The payoffs on an Exacta can be quite generous. Most times they will be under $20 for a $2 bet. Still, the bet can give you a return of 8-1 or better on your wager. Those odds can go up if you only select horses that are offered at long odds.
4 – The Place Bet
Some might argue with the inclusion of place betting on this list. It is a bet that requires the horse you have chosen to finish no worse than second. It pays less than a win bet, but you also have less risk because your chosen horse can finish in either the first or second spot.
One of the few bets in horse racing that returns a flat profit year after year is a place bet on an odds-on favorite. This means betting on a horse to place that is offered at odds of less than even money. The reason for this is probably that favorites sometimes get beaten at the wire by other horses, and sometimes they are good horses but false favorites. The betting public has simply overlooked another horse in the field that had more talent.
The minimum amount that you can bet to place on a horse at the racebook is usually $2. You can expect a return of less than even money on your bet in most cases. Occasionally you may get even money, and you may get even more than that if the horse that you have chosen is a longshot.
5 – The Pick Three
Of all the multi-race exotic wagers that you can make, the Pick Three is probably the easiest to win. To collect your wager on this bet you must pick the winners of three consecutive races. Think of it like the Daily Double but with one more race added to the mix.
The minimum bet for a Pick Three is usually just $1, and for that small investment you could win $100 or more depending on the odds of the horses that you have chosen. A Pick Three may also pay as little as $20 if only favorites come in during the sequence. Most online racebooks offer a rolling Pick Three that will begin as soon as the first two races are completed.
A Pick Three gives you a reasonable chance to make a big score for a small amount of money. It also does not require you to pick multiple horses in a single race. You only have to choose horses that you think can win. Many bettors like to spread out their choices in each race, but this requires a larger investment.
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