Guide To Horse Betting Types And Terms

A person who is not immersed in the activity of horse racing would be hard pressed to explain the betting types and concepts, but to a race fan it is as simple as breathing. From a purely gambling vantage point, one cannot win money consistently, if at all, without understanding the nuances and types of betting terminology. Combined with the ability to read and understand a racing program (which are written in their own language) the ability to choose the proper bet type seals the fate of anyone desiring to make a successful wager at the track.

A single horse can be bet to win, place (come in first or second place) or show (come in first, second or third). The payoff is greatest for a win bet, but the horse must win the race. A place bet pays less, but you horse can come in 1st or 2nd and you'll still be paid. A show bet pays less than a win or place bet, but as your horse can come in 1st, 2nd, or 3rd you have a higher likelihood of profiting. An "across the board" bet is placing a bet on a single horse to win, place and show. In the event your horse wins the race, you'll win the payoffs for the win, place, and show payouts from the race track.

A combination bet on the same race involving two or more horses is one of the most exciting features of horse racing. Combination bets have higher payoffs, and in some cases a $2 bet can give a winner several thousand dollars as a return. The most common and popular combination bets are the exacta and trifecta. An exacta bet is where a bettor pick the horses that win end the race in first and second place. In a "straight exacta" bet, the bettor must pick the first and second place horses in the exact order of the race finish. In a "boxed exacta" bet, so long as the proper two horses are chosen, it does not matter which comes in first and which is second, as long as they are both the top 2 finishers.

A trifecta bet has the same rules as an exacta bet with the exception that a trifecta involves the first 3 finishers in a given race, whereas the exact involves 2 horses. Trifecta wages made be made "straight" or "boxed" and tend to have a higher payout than an exact bet because the difficulty in wining is harder.

A "daily double" is choosing the winners of the first two races at a given track, the horses you choose must win for you to be paid. Other combination bets included the pick-three, pick-four, pick-5, pick-6 and pick-7. In these wagers a bettor chooses the winners of 3,4,5,6,or 7 designated races. These have the highest payout per wager, and many times a pick-7 win can pay well over $10,000 for a $2 bet.

The best advice for understanding horse racing betting types and terms is to observe races without wagering for a while. Learn how the odds on individual horses affect the final payout. By doing this, you can learn what types of wagers will most benefit you bottom line in profit.