Watching horse racing at higher levels is different from other forms of sports and is actually a wonderful experience. For this particular reason, many people are not into other forms of betting and gambling, as they personally don’t see the fun in losing their shorts in some dark, smoky casino. But horse racing betting on the ponies delivers the utmost entertainment.
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Types of horse racing bets:
Horse racing bet generally consists of two types to choose from when you are ready to betting on the ponies, straight wagers and exotic wagers.
Well, as the name suggests, straight wagers are less complicated and easier, to begin with, which allows you to bet on only one horse at a time. In contrast, the exotic wagers will enable you to make multiple bets on multiple horses in a single wager. Exotic wagers are generally much more difficult to win than straight wagers, require an advanced degree of skill and knowledge in horse picking, and are more expensive.
- Win: A way out to bet your horse will come in the first place. If your horse finishes in first, you get to collect.
- Place: When you are on the go to bet on your horse for a place, you will be selecting to predict if he comes first or second. If your horse finishes in first or second, you get to collect. The payout for a place bet is less than a winning wager, but you do have the security of being able to cash in if your horse finishes in the top two spots.
- Show: Here, your horse will be coming first, second or, of course, probably third as hedging bets have a higher chance of winning, but the payout for a show bet is substantially less.
- Across the board: This is majorly known as “combo straight wager” as it involves win, place, and shows altogether.
As mentioned above, exotic wagers allow you to betting on ponies on multiple horses in a single bet, allowing you to increase your profit potential. Still, the fact remains the same that they’re much more challenging to win than straight bets and can get expensive if you’re not careful, which means it requires more skill in handicapping horses.
- Exacta: Here, you are willing to bet on two horses to come first and second in the exact order. Exacta bets are prevalent among skilled horse handicappers because the payoff can be very lucrative.
- Quinella: With the help of a quinella bet, you can try to have two horses come in first and second with any order. As long as your two horses finish in the top two spots, you win. The reason why people pay more for a box exacta if it’s essentially the same bet as a quinella is due to its payout for a box exacta is generally more than a quinella bet.
- Trifecta: As the name suggests, three horses can be involved in particular with the same order. You can also box your trifecta bet so you can win if your three horses come in first, second, and third in any order. Boxing a trifecta will significantly increase the cost of your bet because there are many combinations.
- Superfecta: Betting that four horses will win a race, with the exact same order. As concerning exactas and trifectas, you can here too box a superfecta as an additional cost with the minimum bet of 10-cents, making it more appealing to many people.