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Horse racing 101: What are the different types of bets you can place?

Horse racing is one of the oldest sports you can bet on for all sports gambling. It is a fun event you can watch and earn at the same time. In horse racing, one of the most prestigious tournaments is the Triple Crown series, which is made up of three major racing events: The Kentucky Derby, the Preakness Stakes, and the Belmont Stakes.

Most horse racing fans look forward to the matches of these events, especially bettors who put their money on their favorite horses. So, if you’re interested in betting and are wondering how you can wager on these events, here are the games you can play to amp up your horse racing experience.

Win Bets 

If you are new to betting on horse racing, it will help first try out the simple wager types. After that, you can gradually try harder bets.

A win bet is a betting game that a complete newbie can try. It has straightforward rules with an okay payout. You will need to place money on the horse that you think will first complete the race. It is as simple as that. If your pick wins, you will get to bag your payout.

Place Bets 

Place bets are also similar to win bets. It needs its bettors to decide on a horse that they think will win. But for place bets, you can only payout if the horse you picked can either finish in first or second place. 

Show Bets 

If you feel like win and place bets are a bit risky, a show bet might be more straightforward for you. Compared to the first two, it is more lenient. 

In this game, bettors will need to pick a single horse that they think would finish the race first, second, or third. It is less complicated than the win bet, and you have more chances of winning this type of bet too. However, since it gives you more chances to win, the payout is significantly less than the aforementioned bets.

Across-the-board 

If you have become more familiar with win, place, and show bets, you could challenge yourself and try an across-the-board bet. This type of wager combines the three kinds mentioned above.

The bettors will need to bet on a single horse. Then, they are required to place money separately on win, place, and show bets. For a higher payout, the chosen horse must win first.

So, if your horse finishes first, you can take home your win, place, and show wins. If your pick completes second, you can pay out your place and show bets. However, if the horse is the third finisher, you can only get profit from your show bet.

Pick 3, Pick 4, Pick 5 

The concept of this bet is to let you wager on a single horse in every event. As its name suggests, you will need to choose three horses in three individual events for Pick 3. Meanwhile, Pick 4 needs four horses, and you’ll have to choose five horses for Pick 5.

This type of bet is more exciting because you can only pay out if all the horses you bet on win their events. Remember that all of them must be the winners. If one fails to rank first, you lose your bet.

Exacta Bets 

Exacta bets also involve multiple betting on different horses but in a single event only. Unlike the Pick 3 bet, you will only need to pick two horses from the same event. Then, you will need to guess the exact places they will finish. In simple words, you will need to bet for the first two finishers of a single match. If you predicted correctly, you win.

As the risks increase, the value you can payout increases with it. If you have decided to try out bets like this, it would be best to make use of odds and learn about them. A sportsbook displays odds to present the likelihood of a horse winning a race. So, when choosing on what horse to place your bets, study the odds each horse has.

Trifecta Bets 

In the case of trifecta bets, you will need to place a bet and predict the first three finishers of a match. All the horses must be in the exact places you predicted. So, as you place your bets, you will need to predict what position they might finish. Compared with the exacta bets, you can bag a more considerable amount of money if you win in this wager.

Superfecta Bets 

Superfecta is similar to exacta and trifecta bets. However, the superfecta involves four horses instead of only three and two. You will need to bet and predict the first four horses to win. Since it involves higher risks, you can get a larger sum. 

Final Thoughts 

Now that you are more knowledgeable about the different bets for horse racing, you can try wagering on these games during your next event. What’s more, you can bet for more depending on your sportsbook. Just keep in mind the associated risk you might encounter. It would also be best to learn more about the bets beforehand, so you have more time to decide.

Categories: GamblingSports

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