How To Bet On A Race Horse

One popular betting technique newcomers to horse racing often embrace, individually or in a group, is the SHOW PARLAY. Say a group of four friends decides to invest $10 each in a Show Parlay and then collectively choose which horse to put $40 to Show on.

Types of Bet The most popular bets on horse racing are win and each-way bets. If you back a horse to win, it must finish first for you to collect. A £5 win bet on a 5/1 chance will return £30, winnings (£25 profit and your £5 stake back). A free, detailed guide on for US horse racing betting online for beginners or pros, including the use of breeding and race statistics. From America's #1 choice. There are a few different types of horse bets, but the main three are win, place, and show: In a win bet, you pick the winning horse. Because it’s harder to get right, this will net you the most profit. In a place bet, the horse needs to finish in either first or second (it doesn’t matter which).

Betting on a horse race for the first time — even the first few times — can be an intimidating endeavor. What are all of these options? Here’s all the lingo you need to know before you place your first bet:

The Basics

Winbet – A bet on a horse to finish first.

Place bet – A bet on a horse to finish first or second.

Show bet – A bet on a horse to finish in the money; third or better.

In the money – A horse that finishes first, second, or third.

Across the board – A bet on a horse to win, place, and show. If the horse wins, the bettor collects three ways; if second, two ways (place, show); and if third, one way, losing the win and place bets. It’s actually three bets.

Morning line – The odds that the track handicapper predicts a horse will go off at.

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Exotic (bet) – Any bet other than win, place, or show that requires multiple combinations. Examples of exotic wagers are exacta, trifecta, Pick 6, Pick 4.

Daily Double (or Double) – Type of bet calling for the selection of winners of two consecutive races.

Exacta – A wager in which the first two finishers in a race, in exact order of finish, must be picked.

Box – A betting term denoting a combination bet whereby all possible numeric combinations are covered for certain horses.

Exacta box – A wager in which all possible combinations using a given number of horses are selected. For example, an exacta box using horses 2,4,6 would produce a winning ticket if any two of those three horses finished first and second, regardless of the order (2-6, 4-2, 6-4, etc.).

Quinella – Bet in which the first two finishers must be picked in either order.

Trifecta – A bet in which the first three finishers must be selected in exact order.

Trifecta box – A trifecta wager in which all possible combinations using a given number of horses are bet upon.

Pick (6 or other number) – A type of multi-race bet in which the winners of all the included races must be selected. Pick 3, Pick 4, Pick 5, Pick 6 are commonly used by tracks in the United States.

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Bounce – A racehorse’s especially poor performance on the heels of an especially good one.

Chalk – Betting favorite in a race.

Chalk player – Gambler who wagers on favorites.

Key horse – A single horse used in multiple combinations in an exotic bet.

On the board – Finishing among the first three.

On the nose – Betting a horse to win only.

Overlay – A horse whose odds are greater than its potential to win. Professional bettors target overlays, meaning they target bets that offer better than fair value odds.

Underlay – A horse whose odds are less than than his potential to win. Betting horses whose odds are worse than fair value is a poor strategy.

Parlay – A multi-race bet in which all winnings are subsequently wagered on a succeeding race.

Speed Figure – A metric that rates a horse’s performance in a race, which is determined by a combination of the horse’s performance and the level of competition he/she competed against.

Wheel – Betting all possible combinations in an exotic wager using at least one horse as the key.

Horses are majestic creatures, and their beauty is a huge part of what makes watching them race around a track so exciting. Their speed and power are satisfying sights whether you’re cheering for your favorite horse from the stands or on your couch.

But what if you could get your heart racing a little more? Have you ever considered horse racing betting to up the excitement?

Learning how to bet on horse racing can take you from the sidelines and put you in the saddle. With numerous types of horse bets to choose from, you can take charge and make your favorite sport that much more fun to watch. Continue reading to learn about the most popular horse betting terms and more.

The Horse Racing Betting Basics

First things first — you need to understand horse racing odds. These are listed as fractions that show you how much you need to spend to make a profit.

For example, if Horse 1 has 20/1 odds, you’ll win $21 if you bet $1 (a $20 profit plus the recoup of your bet). On the other hand, if Horse 2 has 6/5 odds, you’ll only get $6 in profit if you bet $5, as they have a better chance of winning.

You’ll also need a few key pieces of information when placing a bet, especially since there can be a lot of races going on at once. Always have the racetrack, race number, and horse’s number written down, as well as how much you want to bet and what type of bet it is.

Different Types of Horse Bets

Basic Bets

There are a few different types of horse bets, but the main three are win, place, and show:

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In a win bet, you pick the winning horse. Because it’s harder to get right, this will net you the most profit.
In a place bet, the horse needs to finish in either first or second (it doesn’t matter which). The earning potential here is still good, but not as high as a winning bet.
Finally, a show bet is when the horse finishes in first, second, or third (again, placement doesn’t matter). This will net you the least money, but it’s a more secure option.

Can’t decide which bet you want to take? You can also go across the board, which is when you place three equal win, place, and show bets. If your horse wins first, you’ll win all the bets. If they get second, you’ll win the show and place bets. And if they get third, you’ll win the show bet.

Advanced Bets

There are also more combination horse bets you can place. One is an exact bet, which requires you to pick the first and second place horses in the correct order.

To make things harder, try the trifecta bet, which is when you pick the exact order of the top three horses. If you’re feeling super confident, go for the superfecta, which is the top four horses in the exact order of finish.

The payout for all of these bets is based on a pari-mutuel system, where all the money for a certain type of bet is collected into a pool and then split among the winners.

Multi-Race Bets

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If you’re really feeling lucky, you can turn it up a notch with multi-race bets. These require you to pick the winner in numerous consecutive races, typically ranging from two to six in a row. That doesn’t mean you have to limit yourself to one pick for each race; feel free to choose multiple horses to be the winner (this will just increase the cost of your bet).

Keep in mind that if even one horse loses, you’ll lose your bet. These are very hard bets to win, but that’s what makes them so much fun.

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