Get the inside edge on online horse betting with Race Track Data. Our online betting blog brings you the latest and greatest on racing previews, picks, odds, and replays.
The most straightforward wager you can make in horse wagering is a straight bet. This is a wager on a single result of a single race. A great element of horse betting that is different from regular sports betting is that you do not always have to bet on the outright victor. You can place straight bets on the horses that come 1st, 2nd, 3rd and 4th as well.
Win – The horse must win the race
Place – A horse can finish 1st or 2nd
Show – A horse can finish 1st, 2nd or 3rd
*a horse must run for a bet to be valid
The payouts for each type of straight bet change according to the bet that you take. It is technically easier to win a “show bet”, for example, because of the three different results you can profit off of. Placing wagers on horses to win outright will always reward you with the biggest payout.
EXOTIC HORSE WAGERING GUIDE
Exotic horse wagers are the equivalent of a parlay where you bet on multiple outcomes.
Exacta – A bet on two horses finishing 1st and 2nd in a specific order.
Trifecta – A bet on three horses finishing 1st, 2nd and 3rd in a specific order.
Superfecta – A Bet on four horses finishing 1st, 2nd, 3rd and 4th.
Box – You can “box” the above bets so that the predicted outcome is not specific, meaning that in an “Exacta Box” you are betting on the horses who place in the top-2 with no specified order. Boxing an exotic bet increases your chances of winning, but also reduces the payout.
Wheel – This is a bet that generates every combination of exacta, trifecta and superfecta using a single horse as the only constant element along with every other horse in the field. It is an expensive bet compared to most exotics, but is a fantastic way to hedge.
Part Wheel – Functions identical to a wheel bet, but you can remove certain horses from the field. The Superfecta Part Wheel is a favorite when it comes to wagering on the Breeders’ Cup.
The pick bet is a pari-mutual wager type that allows you to place wagers on the winners of consecutive races. Examples would be Pick-3 or Pick-5 (etc.) where you select the winners of three races or five races. A popular version of a pick bet is The Daily Double which is a selection on the winner of one race, and the winner of the race immediately following that race. It is equivalent to a rolling if-bet in sports betting.
HORSE RACING ODDS
There are two types of horse odds listing: American odds and fractional odds. They are one in the same, although they’re presented differently. An example is a horse posting 3/1 odds (fractional), which would be the same as having +300 odds. In this case, this horse has 3-to-1 odds.
The morning line is the starting point of odds on horses in a race. The field of contenders for a race will be measured on past performances, popularity and several other factors.
There are also a variety of different horse bets that can be made and they differ from regular sports bets in that you don’t have to simply bet on the outright winner. You can actually bet on horses to place (finishes 1st or 2nd) and show (1st, 2nd or 3rd). There are also a wide variety of horse parlays, known generally as exotics.
Throughout the year, there’s a wide range of different stakes races which offer you a chance to bet on horses. The most prominent of these events are the Triple Crown races, which include the Kentucky Derby, Preakness Stakes and the Belmont Stakes. These are run in the spring.
The Breeders’ Cup is also a major event, and is known as the de facto world championships of thoroughbred horse racing. The Breeders’ Cup runs in mid-fall and offers the most, total purse money.
There are also a long series of non-major events which lead up to the big races. These include the Santa Anita Derby, the Florida Derby and the Louisiana Derby.