You’ve got two categories of wagers to pick from if you bet on the ponies: straight wagers and exotic wagers. For a beginner, I recommend sticking with straight wagers. They are easy and inexpensive. You simply pick 1 horse to come in first, second, or thirdparty. The minimum wager at most monitors for a straight bet is just $2.
Exotic wagers allow you to make multiple bets on multiple horses in a single wager. Exotic wagers are generally much more difficult to win than straight wagers, need an advanced level of skill and knowledge in horse picking, and therefore are more costly. However, the payoffs on exotic wagers are much greater than straight ones.
Recall with a straight bet, you only bet on one horse.
WIN– You’re gambling that your horse will come in first location. If your horse finishes in first, you get to collect.
PLACE– If you gamble on your horse to”place,” you’re gambling he will arrive in first OR second. You have to accumulate if your horse finishes in second or first. Payout for a place bet is significantly less than a win bet, but you do have the security of being in a position to cash in if your horse finishes in the top two areas.
SHOW– You’re betting that your horse will come in first, next, OR third. Since you’re hedging your bets, you’ve got a greater prospect of winning, but the payout for a show bet is substantially less than a win or set bet.
ACROSS THE BOARD– Once you bet across the board, you’re betting your horse to win, place, AND show. An across-the-board bet is what’s known as a”combo straight wager” because it’s three different bets (win, place, AND series ) in a single. Because it’s three stakes in one, an across-the-board bet is more expensive than a simple win/place/show bet. For example, a $2 across-the-board bet will cost you $1, because you’re earning three $2 stakes. If your horse comes in first, you receive the win, place, and show money. If your horse finishes second, you get place and show cash. If your horse comes in third, you merely get the money. Across-the-board stakes aren’t usually a good bet since they are expensive and have less profit possible.
WIN/PLACE, PLACE/SHOW– Similar to a across-the-board wager in that you are making multiple straight wagers in a single bet. In a win/place bet, you’re betting your horse to win AND place. When he wins, you collect the win and place money. When he finishes second, you collect just the area cash. In a place/show wager, you are betting that your horse will put and show. If your horse finishes second, you collect the place and show money; when he finishes third, you merely get the money. Because you’re putting numerous wagers on your horse in one bet, a win/place and place/show is much more expensive. A 2 win/place bet will cost you $4 because you are betting $2 that your horse wins and $ two your horse puts.
Exotic wagers allow you to bet on multiple horses in a single bet, allowing you to raise your profit potential. But as I mentioned previously, they are much harder to win than direct stakes, can get pricey if you’re not careful, and need much more skill in handicapping horses. Feel free to experiment with a few exotic wagers after you have completed a few straight bets.
EXACTA– You are betting on two horses to come in first and second in an exact order. For example, if you placed a $2 exacta on horses 3 and 5, then you can only accumulate if horse #3 comes in first and horse #5 comes in second. Exacta bets are popular amongst proficient horse handicappers because the payoff can be very rewarding. You may also”box” your exacta bet which signifies your two horses may come in any order in the top two spots and you still win. Boxing an exacta costs twice as much as a direct exacta bet. So a 2 box exacta on horses 3 and 5 will cost you 4.
QUINELLA– With a quinella bet, you’re betting on two horses to enter first and second in any order. As long as your two horses finish in the top two spots, you win. Therefore, if you placed a $2 quinella bet on horses 1 and 6, it is possible to collect if horse #1 and horse 6 come in first and second in any order. You could be thinking,”What is the difference between a quinella and a box exacta? Both let you win if your two horses come in first or second.” The significant distinction is price: a $2 quinella wager prices $2 while a $2 box exacta wager will cost you $4. Why would someone pay more for a box exacta if it is essentially the same bet as a quinella? The payout for a box exacta is usually greater than the usual quinella bet, that’s why.
TRIFECTA– You bet three horses will finish in first, second, and third in an exact order. If you put a $2 trifecta bet on 1-5-7, then you can only collect if horse #1 comes from first, horse #5 comes in secondhorse #7 comes in third. You could also ship your trifecta bet so it’s possible to win if your three horses come in first, second, and third in any order. Boxing a trifecta will considerably boost the cost of your wager since there are many combinations. So a $2 box trifecta bet will really cost you 12 or a $1 trifecta boxed will cost you 6.
SUPERFECTA– You bet that four horses will complete, first, second, third, and fourth in an specific order. Much like exactas and trifectas, it is possible to box a superfecta at an additional cost. The minimum bet is often 10-cents, making it more appealing to many people.
I’m not going to get into”keying” horses with these exotic bets. That is a tiny bit too complex for our purposes . Basically, keying horses permits you to minimize your wager, while increasing your payout should you pick your horses right. It’s something that I’d research once you get comfy handicapping horses using exotic wagers.