How to bet on horse racing and win! Straight bet (a.k.a ‘Single’ or ‘Win’ bet). You can bet on two horses to finish second and first in a single race where the order doesn’t matter – either horse A is first and Horse B is second or vice versa. You bet on multiple races, and the winnings are passed along to the next bet in the sequence. If you want to place an each way bet, you need to know that with 2 to 4 runners you can’t do place betting.
How to bet on horse racing and win! The first thing to understand is that in traditional horse racing betting, you are in direct competition with the ‘bookie’ – the person or company that lays the odds.
The most common types of horse race bets are: –
Straight bet (a.k.a ‘Single’ or ‘Win’ bet). This is a bet that a certain horse will win.
Place bet. This is a bet that your horse will finish either first or second, and of course has worse odds than a straight bet.
Show Bet. This is a bet that your horse will finish either first, second, or third and of course has worse odds than a place bet.
Combination Bet. This bet allows you to choose between two and four horses to win in a specified order. If you get it right, the cumulative odds on this can multiply rapidly.
Pick 3 bet. You must pick the winners of three consecutive races. This is surprisingly hard to do, as you have to choose all 3 before the first one kicks off.
Pick 6 bets. You must pick the winners of six consecutive races, choosing all 6 before the first one kicks off.
You can bet on two horses to finish second and first in a single race where the order doesn’t matter – either horse A is first and Horse B is second or vice versa. To bet you say “$10 quiniela, numbers 3 and 7”.
Perfecta/ Exacta/ Straight Forecast (UK) bet. You bet on two horses to cross the finish line in exactly your chosen order.
Trifecta/ Tricast/ Treble Forecast (UK) bet. Like a Perfecta, but betting on three horses to cross the finish line in exactly your chosen order.
Superfecta bet. Four horses to cross the finish line in the exact order you specify.
Daily Double. Allows you to select the winners of the second and first races of the day, placing your bet before the start of the very first race. To bet you say something like “$5 daily double on 6 (your pick to win in the first race) and 2 (your pick to win in the second race)”.
Jackpot bet. Like the lottery, you pick six winners in six races. Prizes vary, but because the odds are so extreme, they tend to be very large.
Accumulator bet. A sequence of bets of your choice, where you ‘let it ride’. You bet on multiple races, and the winnings are passed along to the next bet in the sequence.
Future bet. At the start of each horse racing season, you will be able to get odds on a horse to win a certain event at some future point which you specify. The odds you get are fixed, so even if they shorten for everyone else as the race approaches, you still get the original odds you were offered.
If you want to place an each way bet, you need to know that with 2 to 4 runners you can’t do place betting. With 5 to 7 runners you can bet on the 2nd and 1st and will win one quarter the odds.
To complicate matters, handicap races have different rules – with 12 to 15 runners you can go all the way to show at one quarter odds. With 16 or more runners you can bet on the 1st, 2nd, 4th and 3rd at one quarter odds.
