Types of Horse Racing Bets

Betting the horses at an online racebook is fun. It can be profitable also when you use the strategies published by EZ Horse Betting. There are so many horse racing bets available at the race track that making a wager can be overwhelming to a new handicapper. We’ve prepared a list of the ten most popular horse racing bets to help you make the most of your wagering activity.

10 – Pick 3

The Pick 3 (also read about pick 4 & Pick 5) is a multi-race wager that involves picking the winner of three separate races. The races are in sequence. For example, you could make a Pick 3 bet on races 4, 5, and 6. Many race tracks offer a rolling Pick 3 which usually begins around race 2 after the first Daily Double. A rolling Pick 3 means that the bet begins again with each new race and continues until the final three races of the card.

Payouts on a winning Pick 3 bet can range from double digits to $100 or more. If the series of races is won by a progression of long shots, the payoff can occasionally approach $1,000. Not bad for a $1 bet.

9 – Across the Board

Betting Across the Board involves betting a single unit on a horse to win, place, and show. Therefore, a $2 unit would cost $6 on an Across the Board bet. Despite the fact that this is one of the worst bets in horse racing, it continues to be a popular option for many bettors.

You are essentially betting that the horse that you have chosen will finish first, second, or third. If the horse wins, you collect all three bets. If it runs second, you collect the place and show bet. If it runs third, you collect the show wager only. Any finish worse than third means that you have lost your entire wager.

8 – Place

Place betting is another option that remains popular despite the fact that the wager is a poor one. This wager is making a bet on a horse to run second or better in a race. It pays far less than what you would receive on a straight win bet, though, should the horse you have chosen cross the finish line first. That’s just one of the reasons that other bets are more attractive.

There is one situation where Place betting can be advantageous. A Place bet on an odds-on favorite is one of few bets in horse racing that returns a profit year after year with no handicapping required. Odds-on favorites are those offered at less than even money. The payouts on these bets can be pennies on the dollar, however, so proceed with caution.

7 – Superfecta

The Superfecta is one of the most difficult bets in all of horse racing. It requires you to pick the first four finishers of a single race in exact order. When you consider that most races have a field of 8-10 horses, this can be a daunting feat. The payouts are generous. On one famous occasion in Texas at Lone Star Park, a single bettor walked away with six figures. The cost for her bet? A dime!

You can play the $0.10 Superfecta at most race tracks. Many people approach it like the lottery. It is even possible to quick pick your horses just like someone would do with the numbers on a lottery ticket. Some hardcore horse players have complained that these cheap wagers are bad for the sport because they attract lottery players and bingo players and other gamblers that are only interested in picking numbers.

6 – Pick 6

The Pick 6 has evolved into one of the most popular bets at the online racebook. This difficult wager requires you to pick the winner of six successive races. The last race in the sequence will usually be the featured event on a race card, meaning that it is the most difficult to handicap. Sometimes there is a consolation prize for those who get five out of six winners correct.

It has become very common for Pick 6 wagers today to embrace a carryover. This means that if no one wins the bet, a portion of the betting pool carries over to the next day. As a result, some tracks have seen their Pick 6 pool reach $1 million. When this happens, the whales come out to play. These mega bettors will form syndicates and try to cover as many combinations as possible.

5 – Trifecta

The Trifecta is one of the oldest bets to be offered at the race track. It followed the Daily Double and Exacta as the very first exotic bets offered to horse race bettors. In the Trifecta you must pick the first three finishers of a race in exact order. The payouts on this bet can often top $1,000 when the combination of horses includes those at long odds.

A great thing about the Trifecta is that there are multiple ways to play the bet to increase your chances of winning. It is also great that most online racebooks offer the bet for a base unit of $1. The Trifecta accounts for a large amount of handle, or racetrack profit, each day.

4 – Exacta

The Exacta was one of the first exotic bets to be offered to bettors in the United States. Before the Exacta there was only straight betting on win, place, or show. To win the Exacta bet you must pick the first two finishers of a race in exact order. Many people love this bet because it is a great wager when you like two horses in a race and cannot decide which one to back with your money. Just box them in an Exacta and hope they finish first and second.

Many people like to play an Exacta with a key horse. In this strategy the bettor will pick one horse to win and then make several Exacta tickets with others horses in the second place spot. On average, a $1 Exacta bet can return $20 or so.

3 – Daily Double

Without question the Daily Double is still the most recognized bet in all of horse racing. This exotic wager requires you to pick the winner of two consecutive races. These are usually the first and second races on the card, although it has become common in recent years for race tracks to offer a rolling Daily Double on every two races of the day.

The average payout for a Daily Double is only about $15, but that isn’t too bad for a $1 bet. This is a great bet for the person that just wants to have some fun while watching the live stream of a race track at an online racebook.

2 – Show

It is hard to believe that Show betting is still so popular considering how bad of a bet it is. The payout on this bet can be as little as $0.20 on a $2 wager! No wise gambler would ever risk so much to win so little. The reason for the small payouts on this type of wager is that the horse you pick only needs to run third or better to give you a winning ticket. Many handicappers just believe that a Show bet is easier to win.

The Show Parlay can be used to one’s advantage. This involves making a Show wager on a rolling basis from race to race. You take the profits you receive from one Show bet and roll them over to the next event. If you lose just one bet, though, you are out of the running.

1 – Win

A straight Win bet remains the most popular bet an online racebooks. It is a simple and straightforward horse race bet. You simply pick a horse to win and bet a certain amount. The minimum bet for a Win wager is usually $2. The amount of money that you collect for your winning bet is determined strictly bu the odds of the horse that you have bet on. If the horse is 2-1, you will receive $4 plus your original bet back, minus the track fees known as take-out and breakage.

There is nothing more thrilling for the horse player than making a bet on a horse to win and getting it right. This means that you have done your job as a handicapper. Have a drink and celebrate your good fortune!

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Here we list some of the different type of bets for Horse Racing, click on the links below to learn more.