Horse Betting Guide: Different Horse Betting Bets

Straight Wagers

Before placing a straight bet, you should know what each one means. It is an excellent way to get into horse racing if you’re not adventurous or want to take significant risks. A show wager will be more exciting than a straight bet, and a winning bet can add to the excitement of your first experience at the track. A horse racing guide can help you understand these terms to place the right wagers.
Read on below and explore more about the different straight wager types.

• WIN- A win bet is the best, the most popular, and simplest bet. The only thing you are betting on is that a horse will finish first. You lose your bet if the horse you have placed a wager on does not finish first. Straight bets offer the highest payouts and the biggest risk.

• PLACE- You bet that your horse will place first or second. You get to collect if your horse finishes first or second. Place bets pay less than win wagers, but you can cash in if your horse finishes first or second.

• SHOW- Your horse is betting on whether it will place first, second, or third. You have a greater chance of winning because you are hedging your bets. However, a show wager pays significantly lower than a place or win a bet.

• ACROSS THE BOARD- You can place a bet on your horse’s ability to win, show, or place. A “combo straight bet” is an across-the-board wager that includes three bets: win, place, and show. An across-the-board wager is more costly than a win/place/show bet because it involves three different bets. A $2 across-the-board wager would cost $6. This is because you are placing three $2 bets. You get the win, show money, and place if your horse finishes first. You get show money and place if your horse finishes in a second. You get the show money if your horse finishes third. Because they are more expensive and offer less profit potential, across-the-board wagers are not a good bet.

• WIN/PLACE, PLACE/SHOW – In this type of bet, you will receive both the win money and the place money if he wins. 

• You’re betting on your horse placing and showing in a show/place bet. You will get the show money and the place money if your horse finishes second. If he finishes third, then you only get the show money. A win/place or place/show bet is more costly because you are placing multiple wagers on your horse. A $2 win/place wager will cost you $4. This is because you are betting $2 that your horse wins and $2 that your horse places.

Exotic Wagers

• Exotic wagers let you bet on multiple horses at once, increasing your potential profit. However, exotic wagers are more challenging to win than straight bets and can become costly if you’re not careful. They also require more skill in handicapping horses. Check out the following types of exotic wagers and learn the best ways to place your bets.

• EXACTA – You are betting on two horses to be first and second in an exact sequence. If you place a $2 exacta bet on horses 6, 8, and 9, you will only get paid if horse #6 wins and horse #8 takes second. Because of the high payoff, exacta bets can be very profitable for skilled horse handicappers. Your exacta bet can also be “boxed,” meaning your horses can appear in any order within the top two spots. You still win. A boxed exacta bet costs twice as much. A $2 exacta box on horses 6 or 8 will run you $4.

• QUINELLA- A quinella bet is a wager on two horses coming in first or second in any order. You win if your horses finish in the top 2 spots. If you bet $2 on horses 2, 7, and 3, you will collect if horse #2 or #7 are first and second, in any order. What is the difference between a quinella bet and a box exacta bet? Both allow you to win regardless of whether your horse’s place first or second. Why would anyone pay more if a box exacta is the same bet? A box exacta payout is usually higher than a quinella, and that’s why.

• TRIFECTA – Three horses will finish first, second and third in a specific order. You can only collect if horse #2, horse #6, and horse #8 come in first. Boxing your trifecta bet can give you the chance to win if your horses are first, second, or third in any order. Because there are so many combinations, boxing a trifecta can significantly increase the price of your bet. A $2 box trifecta bet costs $12, while a $1 box trifecta box will cost $6.

• SUPERFECTA- Four horses will finish in the exact order you have chosen. You can also box a superfecta for an additional fee, just like trifectas or exactas. It is more attractive to many because the minimum bet is usually only 10 cents.