Types of Horse Racing Bets

Before making a bet, it is helpful to know the types of bets and how they work. The wagers offered for each race at each track are listed above each race in the racing program.

STRAIGHT WAGERS – MINIMUM WAGER IS $2.00

  • Win – Your wager wins if the horse you picked finishes first
  • Place – Your wager wins if the horse you picked finishes first or second
  • Show – Your wager wins if the horse you picked finishes first, second or third

EXOTIC WAGERS – MINIMUM WAGERS SOMETIMES VARY BASED ON THE TRACK

  • Daily Double – Winners of two consecutive races – Minimum Wager $1.00
  • Quinella – First two horses in a race, in either order – Minimum Wager $1.00
  • Exacta – First two horses in a race in exact order – Minimum Wager $1.00
  • Trifecta – First three horses in a race in exact order – Minimum Wager 50 cents
  • Superfecta – First four horses in a race in exact order – Minimum Wager 10 cents

THE PICK WAGERS

  • Pick 3 – Correctly select the winners of three consecutive races – Minimum Wager 50 cents
  • Pick 4 – Correctly select the winners of four consecutive races – Minimum Wager 50 cents
  • Pick 5 – Correctly select the winners of five consecutive races – Minimum Wager 50 cents
  • Pick 6 – Correctly select the winners of six consecutive races – Minimum Wager $1.00

ADVANCED WAGERING – BOXING HORSES

Calculating how much your bet will cost when you box a bet, you get all the combinations of the horses you select, no matter what their exact order of finish is.

$1 Quinella Box – Total number of horses you want to box multiplied by the total number of horses you want to box minus 1, divided by 2

  • Example: $1.00 Quinella Box involving 4 horses
  • 4 x (4-1) = $12, $12/2 = $6

$1 Exacta Box – Total number of horses you want to box times the total number of horses you want to box, minus 1

  • Example: $1.00 Exacta Box involving 4 horses
  • 4 x (4-1) = $12.00

50 Cent Trifecta Box – Total number of horses you want to box times the total number of horses you want to box, minus 1, times the total number of horses you want to box, minus 2, divided by 2

  • Example: 50 cent Trifecta Box involving 4 horses
  • 4 x (4-1) x (4-2) = $24, $24/2 = $12

10 Cent Superfecta Box – Total number of horses you want to box times the total number of horses you want to box, minus 1, times the total number of horses you want to box, minus 2, times the total number of horses you want to box, minus 3, times 10 cents

  • Example: 10 Cent Superfecta Box involving 4 horses
  • 4 x (4-1) x (4-2) x (4-3) = $24 x .10 = $2.40

TO MAKE A HORSE BET, FOLLOW THESE TWO EASY STEPS

Step 1 – Tell the ticket writer the name of the Track and the Race Number

  • Example: Churchill Downs Race #1

Step 2 – Tell the ticket writer the Wager Amount, Type of Wager and Horse Number

  • Example: $2 to Win on Number 8

All together, that would go: Churchill Downs, Race 1, $2 to Win on Number 8

Some horse tracks offer other exotic wagers, but they all follow one of the examples above.

In conclusion, all tracks have a season, typically known as a “meet.” On the last day of the Meet, any jackpots, like a Pick 6, that have not been won and have been carried over from day to day, require a Mandatory Payout. Sometimes, these payouts can be in the millions of dollars. This is a very good way to take a shot at a huge pool of money, with limited risk.

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