In some countries — notably the UK, Ireland, and Australia — an alternative and more popular facility is provided by bookmakers who effectively make a market in odds. This allows the gambler to 'lock in' odds on a horse at a particular time known as 'taking the price' in the UK. In North American racing, the three most common ways to bet money are to win , to place , and to show.
A bet to win , sometimes called a "straight" bet, means staking money on the horse, and if it comes in first place, the bet is a winner. In a bet to place , you are betting on your horse to finish either first or second. A bet to show wins if the horse finishes first, second or third. Since it is much easier to select a horse to finish first, second, or third than it is to select a horse just for first, the show payoffs will be much lower on average than win payoffs.
If there are a small number of horses in the race, show or place bets may not be offered or if bets have already been made, they are cancelled and the wagered amounts refunded. In Europe, Australia, and Asia, betting to place is different since the number of "payout places" varies depending on the size of the field that takes part in the race. For example, in a race with seven or less runners in the UK, only the first two finishers would be considered winning bets with most bookmakers.
Three places are paid for eight or more runners, whilst a handicap race with 16 runners or more will see the first four places being classed as "placed". A show bet in the North American sense does not exist in these locations. An each-way bet sees the total bet being split in two, with half being placed on the win, and half on the place.
The full odds are paid if the horse wins, plus the place portion , with a quarter or a fifth of the odds depending on the race-type and the number of runners if only the place section of the bet is successful. In the UK some bookmakers will pay for the first five some independent firms have even paid the first six for a place on the Grand National.
This additional concession is offered because of the large number of runners in the race maximum Occasionally other handicap races with large fields numbers of runners receive the same treatment from various bookmakers, especially if they are sponsoring the race. Each portion is treated by the totalizator as a separate bet, so an across-the-board bet is merely a convenience for bettors and parimutuel clerks.
In addition to straight wagers, "exotic" wagers offer bettors an opportunity to incorporate the placement of different horses in one or multiple races. The two broad types of exotic wagers are horizontal and vertical.
Horizontal exotic wagers are bets on multiple horses in one particular race, while vertical exotic wagers involve predicting results across multiple races. Both have specific options for which bets are available and are detailed below. In the most basic horizontal wager, an exacta , the bettor selects the first and second place horses in the exact order.
Picking the first three finishers in exact order is called a trifecta and a superfecta refers to the specific finishing order of the top four horses. Boxing is a tactic that increases the odds of winning an exotic wager by removing the need to choose the exact order. A quinella , which boxes an exacta allowing the first two finishers to come in any order and still win , is the basic box, but boxing can be applied to the trifecta and superfecta as well.
In a sense, a win bet can be thought of as a specific type of wheel bet. Vertical bets are spread over different races. A daily double is an exotic wager placed on the winner of two consecutive races. Picking the winner of three, four, five or six straight races is referred to as a pick-3 , pick-4 , pick-5 and pick-6 respectively.
In addition to traditional betting with a bookmaker, punters bettors are able to both back and lay money on an online betting exchange. Punters who lay the odds are in effect acting as a bookmaker. The odds of a horse are set by the market conditions of the betting exchange which is dictated to by the activity of the members. By the late 19th century over tracks were in operation in the country but those opposed to gambling caused the banning of bookmakers and horse racing at the beginning of the next century.
In pari-mutuel tote betting was introduced, helping the industry to prosper and that has continued to be the case to the present day. Pari-mutuel betting is currently legal in 32 US states. Due to new legislation horse race betting in the US could change significantly in the near future.
Exacta aka perfecta : You must pick two horses that finish first and second in the exact order unless "boxed" or "keyed" — see below. Trifecta: You must pick three horses that finish first, second and third in the exact order again, can be boxed or keyed. Superfecta: You pick the top four finishers in order again, can be boxed or keyed. Hi 5 aka Super 5 : You pick the top five finishers in order again, can be boxed or keyed.
Box: A bet in which you pick multiple combinations in a wager, so you cash if they hit the board in any order. Beware: This can get expensive, as you pay your wager amount times all possible combinations. Key: A bet in which you pick a horse in a particular spot, usually to win, and then pay for the combinations going to the rest of the horses listed. This saves money by not paying for a lot of extra combinations, but if your horse doesn't finish in the specified spot, you lose.
Multiple-race wagers aka "betting horizontally" Double: Pick winners in successive races. This traditionally used to be an early double on the first two races of the day and a late double on the last two races, but now tracks have "rolling doubles" throughout the card.
Pick 3 aka "triple" : Pick the winners of three straight races. Pick four: Pick the winners of four straight races. Pick six: Pick the winners of six straight races. This is obviously very hard to hit. If no tickets have all six winners, the jackpot carries over to the next day, with that day's pick six wagers building the pool. Carryovers of several days can build huge pools that attract lottery-type crowds trying to hit it.
How to bet This has become easier for newbies who have already been betting on smartphones, as it's very similar to sports betting once you learn what all the wagers mean. For those going to a betting counter, a certain protocol helps the ticket writer get your wager correct and helps the line run smoothly: — Track name.
What to bet The best advice for beginners is just to bet to win — or place and show, though the payoffs on those are much lower. How to handicap Tons of books are available to teach you how to handicap, and it's much too complex to attempt to do it here. But let me start you with a few things to look for when going over those complex past performances: Look for lone speed: The easiest way for a horse to win is to go wire to wire as they go to the lead and never get caught.
Often a race will have a lot of speed horses, and it's tough to single out a horse to dominate a field. But the more you look at races, the more you'll be able to identify when a race is absent a lot of horses that go to the front with a lot of 1s in their running lines of the PPs. That will help you find the lone speed horse that has a chance to control a race from start to finish. Those will pay off in the long run — meaning they'll win enough to pay for the losing times. Identify the top closer: Conversely, if a race has a ton of speed, look for a closer to be running late.
You'll often have several to choose from that's where a "box" can help , but you can use other handicapping factors to try to find the best choice. Other handicapping factors: These would include things like class a horse that has been running against tougher competition but drops into an easier level in today's race , breeding this can be tied to class, but certain sires and dams produce runners who are better on turf or in sprints and so on and current form horses in "good form" will consistently run their best race.
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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.
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. There are a few different types of horse bets , but the main three are win, place, and show:. You can also go across the board, which is when you place three equal win, place, and show 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. 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. These three types of wager are betting in the simplest form. A Win bet is simply placing a wager on a horse to finish first, a Place bet, a horse to finish first or second and a Show bet for a horse to finish in the first three.
Other popular betting methods on horse racing include multiple bets, parlays, and exotics, all of which will be explained in our betting markets section below. Our industry expert tipsters will give out free horse racing picks and horse racing selections on all of the top domestic and international equine action. With horse racing taking place almost every day, there is always plenty of action for our tipster to analyze and for horse racing fans to place wagers on.
For all of our latest horse racing picks head over to our horse racing picks page here. Betting on horse racing has a long and illustrious history in the US, and is a much wider accessible form of gambling that the majority of other sports. It is currently legal to place a wager on horse racing online in 41 states across America. The nine states where you cannot legally place an online bet on horse racing are:. The online bookmakers available will vary from state to state, with some online sportsbooks unavailable in certain states.
One of the industry leaders in horse racing betting is TVG. TVG is one of the most reputable names in the business and part of the TVG horse and greyhound racing tv network. At TVG, international racing fans can place wagers on racing throughout the week, with a myriad of tracks from Dubai, Australia, Great Britain, China, Ireland, Japan, New Zealand and South Africa available, there are countless races to place a wager on each day.
As well as extensive horse racing coverage, TVG offers competitive odds with regular price boosts, Money-back specials, daily cash giveaways, and unrivaled streaming services for all of the action. TVG is a particularly good option for those new to the horse racing betting or sports betting in general as they have 11 in-depth tutorial videos available to walk a bettor through all of the account options, how to navigate the website, and explaining all of the betting jargon.
BetAmerica, part of the Churchill Downs incorporation also has a long history within horse racing and their own separate, designated horse racing section to their sportsbook. BetAmerica is also a great option for fans of greyhound racing, where their coverage is unrivaled, showing approximately races each week. The simplest form of betting on a horse race, a bet on a horse to win the race.
Your horse must finish first for your wager to payout. A Place bet is a bet on a horse to finish in the first two. As its two bets, the total wager will cost twice the amount of your bet. If your horse wins you will collect on both parts of the ticket, the Win bet, and Place bet. If your horse finishes second you will only collect the winnings from the Place bet. If your selection finishes worse than second, the wager is a loser. A combination of a place and a show bet.
A horse finishing outside of the top-3 will result in a losing wager. An Across The Board bet is a combination of all three wagers above, so if you bet a horse Across The Board, you are taking it to win place and show. If the horse wins, you collect on all three bets.
If it is second, you collect on Place and Show bets, and if it is third you collect on only the Show part of the bet. An Exacta bet is a bet whereby you pick the horses to finish first and second horses in the correct order. A Quinella bet is the same as an exacta bet except the horses can finish in either order.
A Trifecta is a bet whereby you select the first, second, and third horses. Each horse will need to finish in the exact order that you picked to win your bet. A Superfecta is even tougher. A Superfecta is a bet on the first four horses home. With each of the first, second, third, and fourth horses needing to finish in the exact order you picked for your bet to win. Exotic Multiple bets are a great way to have a bet on multiple races, whereby you have to pick the winner of consecutive races. The Daily Double is a bet where you have to select the winner of two races consecutive races, Pick 3, on three races, Pick 4 on four races and Pick 6 on six races.
New to betting online or unsure where to bet? Check out our latest promo codes and sportsbook reviews. Exotic combination bets are bets that allow you to select multiple horses into the exotic bets listed above such as exacta, trifecta, and superfecta. There are multiple different types of exotic combination bets, with the most common types being Box and Key bets. Boxing a bet means covering all available combinations, so in an Exacta, there are 2 possibilities, a Trifecta has 6, and so on.
You multiply the cost of your unit stake appropriately. Keying a horse means taking it to win by itself and adding others to finish in behind it. For example, a Trifecta Key would be choosing one horse you definitely think will win and then any combination of other horses to fill second and third place behind it. The cost of the Trifecta Key will depend on how many horses you select in behind the horse to win.
Don't assume the ticket writer knows what track you're betting, even if it's the next live race. You don't have to give this if you're betting the next race, but it's a good habit to develop. On Kentucky Derby day, if you don't give a race number, the writer will just give you a ticket on the next race at Churchill Downs. Don't say horse names; use betting numbers for that race. For straight bets like win, place or show, just give the number like "5.
The best advice for beginners is just to bet to win — or place and show, though the payoffs on those are much lower. Besides, it's also very difficult to string together a bunch of horses in a race to get a big payoff or hit a string of winners in multiple races. It's hard enough to pick just one winner. Tons of books are available to teach you how to handicap, and it's much too complex to attempt to do it here.
But let me start you with a few things to look for when going over those complex past performances:. Are you new to horse racing? Here's a quick list of the most common horse racing wagers: Single-race wagers aka "betting vertically" Win: Your horse has to win the race.
Place: Your horse has to finish first or second. Show: Your horse has to finish first, second or third. Across the board: You make three separate bets to win, place or show. Exacta aka perfecta : You must pick two horses that finish first and second in the exact order unless "boxed" or "keyed" — see below. Trifecta: You must pick three horses that finish first, second and third in the exact order again, can be boxed or keyed. Superfecta: You pick the top four finishers in order again, can be boxed or keyed.
Hi 5 aka Super 5 : You pick the top five finishers in order again, can be boxed or keyed. Box: A bet in which you pick multiple combinations in a wager, so you cash if they hit the board in any order. Beware: This can get expensive, as you pay your wager amount times all possible combinations. Key: A bet in which you pick a horse in a particular spot, usually to win, and then pay for the combinations going to the rest of the horses listed.
This saves money by not paying for a lot of extra combinations, but if your horse doesn't finish in the specified spot, you lose. Multiple-race wagers aka "betting horizontally" Double: Pick winners in successive races. This traditionally used to be an early double on the first two races of the day and a late double on the last two races, but now tracks have "rolling doubles" throughout the card. Pick 3 aka "triple" : Pick the winners of three straight races. Pick four: Pick the winners of four straight races.
Pick six: Pick the winners of six straight races. This is obviously very hard to hit. If no tickets have all six winners, the jackpot carries over to the next day, with that day's pick six wagers building the pool. Carryovers of several days can build huge pools that attract lottery-type crowds trying to hit it. How to bet This has become easier for newbies who have already been betting on smartphones, as it's very similar to sports betting once you learn what all the wagers mean.
For those going to a betting counter, a certain protocol helps the ticket writer get your wager correct and helps the line run smoothly: — Track name. What to bet The best advice for beginners is just to bet to win — or place and show, though the payoffs on those are much lower. It works both ways: not only will some skillsets be naturally suited to some courses, but trainers are likely to pair the best riders with the strongest horses.
Specific jockey and trainer combinations are crucial to learn and understand. New users only. Awarded as 4 equal free bets total first deposit amount. Odds boosts: Odds boost crediting relies on marketing comms opt-in. Unlocked on deposit.
Winnings credited in cash. New customers only. See All Special Offers Continue to myracing. Special Offers. Racing Tips. Horse Racing Tips By Racecourse. Understanding horse racing terminology As with every sport around the world, Horse Racing has plenty of different terminologies and phrases to understand. Get to know your horses Easy Last Time Out Winners — Horses in form can often put together streaks of 2 to 3 wins in 5 races. Starting by looking for easy last time out winners which look like they could go in again is always a solid place to start Good rating figures — If you can find a horse that enjoyed a personal best in its last race, you could be onto a winner Race comments — this insight can be invaluable.
It works in reverse too… Conversely, poor trainer records at certain venues tell you who not to back. Get to know your jockey Jockeys also provide a great deal of betting insight and can help you understand winners. How many places are there in a horse race?
What to wear to the Cheltenham Festival? Who are the best horses in horse racing? Who are the best trainers in horse racing? Where can I watch horse racing? Handicaps in Horse Racing Explained. Stewards' Enquiries and Reversed Results.
Types of Bets and How They Work. Types of Horse Races Explained. What the "Going" is in Horse Racing. How to pick winners at the Cheltenham Festival? Course by Course Guide To Betting. Why is pedigree important in horse racing? Bet Credits available for use upon settlement of bets to value of qualifying deposit. Min odds, bet and payment method exclusions apply. Returns exclude Bet Credits stake. New customers using promo code C40 only. Casino bonus expires 72 hours from issue.
Eligibility rules, free-bet rules, game, location, payment-method, currency restrictions, stake contributions and terms and conditions apply. New members. Bet Responsibly. Deposit and place your first bet on Pools and if it loses we'll refund your stake in cash. Qualifying bet is the first bet added to the betslip. Totewin will be the qualifying bet when a Totewin and a Toteplace bet are struck at the same time. E-wallet deposit restrictions apply. New customer offer.
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