What Are The Different Types Of Horse Bets

Straight Bets

Win: The simplest bet you can make on a horse race. A Win bet is an attempt to predict the horse that will win the race. If the horse wins, you will collect on your bet. The odds listed for the horses on the toteboard are the Win odds for each horse. For example, if a horse shows '5' on the toteboard, if you bet him to Win for $2, you will get back $12 (5 times $2 plus your original $2 bet). This $2 payoff of $12 would also be shown on the result payoffs under the Win column (1st column) for the horse when the race is official.

Like any type of gambling, there are different horse betting types depending on the race taking place. Please refer to this page for the different horse betting types accepted at our racebook. Common horse betting types are to win, place, show, exactas, quinellas, daily doubles, trifectas, superfectas and pick 3. A parlay bet, also known as an accumulator bet, is the European version of a multi bet. However, a parlay formula bet allows you greater flexibility than multi bets, as you can decide on how many legs need to be win in order for the bet to successful.

Place: Similar to the Win bet, a Place bet on a horse is a bet that the horse will finish in first or second. If the horse does finish in one of the top two spots, you will collect the amount shown in the Place column (2nd column) for that horse on the result payoffs for each $2 you have bet. If you make a Place bet, note that it does not matter if the horse wins or comes in second, you will win the same amount. This bet has less risk than a Win bet, but also a smaller reward. If you are confident the horse will win the race, you will receive a larger return betting the horse to Win.

Show: Another variety of a straight bet, the Show bet is used when you want to bet that a horse will finish in the top 3 positions in the race. For every $2 bet on the horse to Show, you will collect the amount shown in the Show column (3rd column) for that horse on the results payoffs. Again, if the horse comes in first or second, you will not win any more money than if the horse finishes third. This is the safest of the straight bets but also offers the smallest return. If you are confident the horse will finish better than third, you would have a larger return placing a Win or Place bet.

Combination Straight Bets

Across the Board (Win/Place/Show): This is a combination of the Win, Place, and Show wagers. If you bet a horse 'across the board' you are effectively betting him to Win, Place, and Show. If the horse wins, you collect on all 3 bets. If the horse comes in 2nd, you collect the Place and Show payoffs. If the horse comes in 3rd, you collect on the Show bet only. Since this is actually 3 bets combined, a $2 bet 'across the board' will cost $6.

Win/Place, Place/Show: These are simply 2 bet combinations of Win/Place and Place/Show, respectively. For a $2 bet, they cost $4.

Exotic Bets: Single Race

Exacta/Perfecta/Exactor: One of the simplest single-race exotic bets, the Exacta is the combination of predicting the winning horse and the second-place horse, in order. This will pay more than betting either of the horses to win or place. A $2 bet on an Exacta will pay out the amount shown for an Exacta bet on the wager payoffs after the race is official.

Quinella: Similar to the Exacta, but this does not require the bettor to predict the order of the top two horses. Simply put, the bettor only has to pick the horses which will finish in the top two places, but does not have to predict which of those two will actually win the race. Since this is easier to predict than an Exacta, it also pays less than the Exacta (typically it pays about half of the Exacta payoff).

Trifecta/Triactor: The Trifecta takes the Exacta a step further. It requires the bettor to pick the horses, in order, that finish in the top 3 positions in the race. It is significantly harder to predict than an Exacta, and accordingly will pay out much more for a winning bet. A $2 bet on a Trifecta will pay out the amount shown for the Trifecta on the wager payoffs after the race is official.

Superfecta: The most difficult of the single-race exotics, the Superfecta, requires the bettor to predict the first four finishers, in order. Predicting a Superfecta is very difficult and will always require the bettor to take different combinations of horses so that there are more chances of winning. The payoff for a Superfecta is generally very high, and is typically shown on the wager payoffs based on a $1 bet.

Exotic Bets: Multiple Races

Double: A Double is the simplest type of wager that spans multiple races. It requires the bettor to pick the winner in two consecutive races. Most tracks usually offer an Early Double (Races 1 & 2) and a Late Double (last two races on the card). There are also tracks that offer Double's in the middle of a card. If there is a Double available to be bet on, there will be a note of it on the first race (or leg) of the Double wager. The $2 payoff for a Double will be shown on the results for the second leg of the wager.

Pick 3/Pick 4/Pick 6 (Classix): These bets are all similar to the Double wager, only differing in the amount of consecutive races that a bettor needs to predict the winner. The larger the number, the harder it is to pick, as well as the greater the payoff. For these bets, it is recommended to take several combinations of horses in each race to increase your chances of winning (although this also increases the cost). Many race tracks have at least one or two available Pick 3's and/or Pick 4's on a card. Some tracks also offer one Pick 6 per card. If there is available Pick 3/4/6 to bet on, there will be a note of it on the first race (or leg) of the wager. The payoff for one of these bets will be shown on the results for the last leg of the wager. For Pick 3s and Pick 4s, if nobody has the required number of races correct, they will typically pay out for people who missed one less race. For example, if nobody predicted a Pick 4 correctly, people who had 3 of 4 correct will get paid. In addition, the payoff results would indicate a payoff for 'Pick 4 (3 of 4 correct)'. For a Pick 6, typically the track will also give a small payoff to bettors who had 5 of 6 correct. However, if nobody had all 6 correct, the majority of the Pick 6 pool will be carried over to the next racing day, making the subsequent Pick 6 pool even larger.

Place Pick All: This bet is similar to a Pick-x bet, except that you need a horse to place (come in 1st or 2nd) in each race, instead of to win. With a Place Pick All bet, you must pick a place horse in EVERY race on the card (usually 8 or 9 races).

The types of Horse Racing bets in Horse betting has remained as prevalent as ever in spite of the increase in other types of sports betting. The arrival of high speed internet has transformed the way punters can place their bets with more betting options than ever before.

The Types of Horse Racing Bets

You have two categories of bets to choose from when you bet on horses: Straight bets and exotic bets. For a beginner, it’s advisable that you stick with straight bets. They are simple and cheap. You only pick one pony to come in first, second, or third.

Exotic bets

The Exotic bet allows you to make multiple bets on multiple ponies in a single bet. Exotic bets are usually much more difficult to win than straight bets; they require a high degree of expertise and knowledge in pony picking, and are more expensive. However, the profit on exotic bets are much more than straight ones.

Straight bets

WIN: You are betting that your pony will come in first place. If your pony finishes in first, you get to collect.

PLACE: When you bet on your pony to “place”, you are betting that your horse will come in first or second. If your pony finishes in first or second, you get to collect. Payoffs for a place gamble is less than a win bet, but you do have the advantage of being able to collect if your pony finishes in the top two positions.

SHOW: You are gambling that your pony will come in first, second, or third. Since you are hedging your wagers, you have a higher chance of winning, but the payoff for a “show” wager is considerably less than a win or place bet.

Multiple Straight Bets

Across the Board (Win/Place/Show) – This is a combination of the WIN, PLACE, and SHOW bets. If you bet on a horse “across the board” you’re effectively wagering the horse to win, place, and show. If the horse wins, you get paid out on all the three bets. What if the horse comes in second? then you get paid on the place and show bets. If the horse comes in third place, you get paid on the Show wager only. Since this is actually three wagers combined, a two dollars wager “across the board” will cost six dollars.

Win/Place, Place/Show– These are simply two wager combination of Win/Place, and Place/Show, respectively. For a two dollars wager, they cost four dollars.

Exotic Wagers – Single Race

Exacta/Perfecta/Exactor – One of the simplest single types of horse racing bets is the exotic wager. The Perfecta is the combination of predicting the winning pony and the second place pony, in order. The proceeds are higher than wagering either of the ponies to win or place betting options.

QUINELLA: With a Quinella wager, you are gambling on two ponies to come in first and second in any order. As long as your ponies finish in the top two positions, you win. So if you staked a two dollar Quinella wager on ponies 1 and 6, you can collect if pony #1 and pony#6 come in first and second in any order. The main difference between a quinella and a box exacta bet is cost: a two dollar quinella wager costs two dollar while a two dollar box exacta wager will cost you four dollars. The payout for a box exactor is usually more than a quinella wager.

TRIFECTA: You bet that three ponies will finish in first, second, and third place in an exact order. If you stake a two dollars trifecta wager on 1-5-7, you can only get paid if pony #1 comes in first, pony #2 comes in second, and pony #7 comes in third. There is also an option of boxing your trifecta wager so you can win if your 3 ponies come in first, second, and third place in any order. Boxing your trifecta will greatly increase the cost of your wager because there are several combinations. So a two dollars box trifecta wager will actually cost you 12-dollars or a one dollar trifecta boxed will cost you 6-dollars.

SUPERFECTA: You gamble that four-horses will finish, first, second, third, and fourth respectively. As with trifectas and exactas, you can box a Superfecta at an additional cost.

Exotic Wagers – Multiple Races

Double– A double is one of the simplest types of horse racing bets that spans multiple races. A double requires the punter to pick the winner in two consecutive races. If there is a double available to bet on, there will be a reminder of it on the first leg of the double bet. The two dollars payout for a double will be displayed on the results for the second race of the wager.

Pick 3/Pick 4/Pick 6– These wagers are all similar to the double bet, only differing in the number of consecutive legs that a punter needs to foretell the winner. The greater the amount, the difficult it is to pick, as well as the greater the payout.

Place Pick All– This wager is similar to a Pick-x wager, except that you need a pony to place (come in first or second) in each leg, instead of to win. With a Place Pick All wager, you must pick a place pony in every leg on the card (usually eight or nine races).

What is an Each Way Bet?

An Each Way bet is basically two bets, one is for the pony to win, and the other is for the pony to place.

Because it is two wagers, each way rules suggest that you double your stake. You will receive a profit on your wager if your prediction wins but also if it places.

The place part of the wager will always be a fraction of the odds you have chosen, usually 1/4 or 1/5.

This is one of the safest types of horse racing bets and useful if you are confident on your selection but know it could place as well as win. The odds would normally have to be bigger for it to be effective.

What Are The Different Types Of Horse Bits

You should hopefully have a better understanding of the different types of horse racing bets out there now.

How To Bet On Horses

Choose the type that is more suitable to your type of betting. Do you place larger single bets or are you more speculative and fancy trying out the Double or Pick 3/4 horses hoping for a bigger return?

What Are The Different Types Of Horse Bets Odds

Good luck with your types of horse racing bets that you decide on. Use publications like the Racing Post to check out the daily runners for UK/Irish and USA horse races.