Horse Racing Betting Explained

Horce Racing Betting History

Ever since people first learned how to ride horses, betting on horses has been a favorite past time for horse owners, gamblers, and pretty much everyone else involved with race horses. When horses were first domesticated thousands of years ago, debates about whose horse was the quickest inevitably followed. These debates could only be resolved by racing one horse against the other. Betting was straightforward: win only. Second and third didn’t count. In the 20th century, horse racing in United Kingdom and North America has grown so well-organized that anyone can take part. The lifeblood of contemporary horse racing is now bettors, along with other types of gamblers like slot machine players. There wouldn’t be any organized racing without them. When horse racing was the only form of legalized gambling fifty years ago, the bettors weren’t given much consideration by racing administration (some still are). They only provided gamblers with the bare minimum of uninspired betting alternatives to keep cash coming through the pari-mutuel windows. The situation has changed.

How to bet on Horse Racing
When you place your bet, you will need to place it in a certain order. Tell the clerk:

    • What track
    • Race number
    • Amount of your bet
    • Type of bet
    • Number of the horse(s) you are betting on.

Types of Bets on Horse Racing

Straight Wager Bets

    • Win – Pick a horse to finish first. This is the most common and simplest bet you can place.
    • Place – Pick a horse to finish first or second.
    • Show – Pick a horse to finish first, second, or third.

Exotic Wager Bets

    • Exacta – Pick the first and second place finishers in exact order.
    • Trifecta – Pick the first, second, and third place finishers in exact order.
    • Superfecta – Pick the first, second, third, and fourth place finishers in exact order.
    • Box – You can also box any of the exotic wager bets, which will place a bet on any combination of the horses you have chosen. This increases your chances of winning, but also increases the cost of the bet. For example, a $1 Trifecta Box costs $6 because you are effectively placing 6 bets.

Multi-Race Bets
Multi-race bets are pretty much what they sound like. You will choose the winner in X number of consecutive  races. These bets are called

  • Daily Double – Pick the winner in two consecutive races.
  • Pick Three – Pick the winner in three consecutive races.
  • Pick Four – Pick the winner in four consecutive races, and so on…

Horse Racing Betting Terms

horse racing

At the bookmaker’s discretion, betting terms for events at prestigious festivals may be subject to place improvements. For the Grand National, for instance, many companies now give six spots.

Double – A wager that covers two different outcomes in one event. For a return to be guaranteed, both picks must triumph.

Treble – A wager that covers three distinct outcomes. To ensure a return, all three picks must succeed.

Four-fold and above – The conventional accumulator is available in fourfolds and up. This is a collection of picks, and just like with doubles or trebles, all of them must succeed to ensure a return.

Trixie – A wager made up of three selections, four wagers—three doubles, and one treble. To ensure a return, a minimum of two selections must triumph. A $2.50 Trixie, for instance, would cost $10. A $20 Trixie would cost $2.50 each way.

Patent – A wager consisting of three selections and seven bets—three singles, three doubles, and one treble—on the three selections. It is comparable to a Trixie, but with three extra singles. A $2.50 Patent, for instance, would cost $17.50.

Lucky 15 – A common wagering option among gamblers, it consists of four picks and 15 bets—four singles, six doubles, four trebles, and a fourfold—hence the name. similar to a Yankee but with four singles; only one pick needs to succeed in order for you to get paid. For instance, a $2 lucky 15 will need a $30 wager.

An 11-bet wager known as a “Yankee” consists of six doubles, four trebles, and a fourfold on four different picks. In order for you to receive a payout, at least two of your picks must succeed. A £2 Yankee, for instance, would cost £22.

Five selections are used in the Lucky 31 wager, which consists of 31 bets totaling five singles, ten doubles, ten triples, five fours, and one fivefold. To ensure a return, only one of your picks needs to be successful. A $1 Lucky 31 would cost $31 for instance.

A wager called “Lucky 63” consists of six selections and 63 bets: six singles, fifteen doubles, twenty triples, fifteen fourfolds, six fivefolds, and one sixfold. A $1 Lucky 63, for instance, would cost $63.

Reverse Forecast – The first two horses chosen by a reverse forecast are chosen correctly, but in any order.

Placepot – Another favorite among racegoers is The Placepot. Choose a horse racing bet to run in each of the first six races at a certain track on a single day, and if that horse racing places, you receive a portion of the prize pool. The wager is invalid after one unplaced selection!

Jackpot Possibly the most difficult wager to succeed at. To win a share of the pool, correctly guess the first 6 winners at a particular racetrack on a single day. The wager is void if one improper choice is made!





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