Types of Horse Racing Wagers

Horse racing is one of the first sports to have been globally approved for legalized gambling. Therefore, it is safe to say that a large audience has worked for its expansion in the same area.

Straight Bets

As its name suggests, straight bet wagering involves one party wagering on a single horse to finish at a particular place. This type of betting can be classified into these following types:

• Win: This is the simplest form of horse racing betting. Here, the punter stakes their money on a particular horse to place 1st in the race.

• Place: Here, the selected horse must either place 1st or 2nd in the race. The punter has a better chance of winning here than “Win”, but the odds are also relatively lower than the former type.

• Show: This further lightens the pressure of the punter by providing them the power of claiming returns if their selected horse places 1st, 2nd or 3rd. However, this type of straight betting provides the lowest odds of the three.

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Exotic Bets

Exotic bet wagering lives up to its name by providing mouthwatering returns to the punters. However, this betting category also raises the difficulty level for the punter as it involves the selection of multiple horses. Exotic bets are of 2 types:

1. Single race selections

• Quinella: Quinella is arguably the easiest selection of exotic bets. Here, the punter must select two horses who must place 1st or 2nd in the race in either possible order.

• Exacta/Exactor: As its name suggests, Exacta betting involves the selection of two horses who must finish exactly at the order selected by the punter.

• Trifecta/Triactor: Trifecta betting is a further upgrade to Exacta betting. Here, the punter must select three horses who must finish 1st, 2nd and 3rd in the exact order selected while placing the bet.

• Superfecta: Superfecta is the toughest single race exotic betting type as it requires a selection of four different horses who must finish 1st, 2nd, 3rd and 4th in the exact order selected.

2. Multiple race selections

• Double: This type of betting usually involves the first two races in a particular track that day. Here, the punter selects two horses from two consecutive races both of which must finish 1st.

• Pick ‘X’: The Pick ‘X’ bet by far provides the most thrill out of all the mainstream bets available in the betting market. Here, the punter picks a distinct horse from a number of consecutive races all of which must win their races. Therefore, if one picks five horses from five consecutive races, then all five of the picks must win their respective races.

It is a known fact that the sport of horse racing is contested worldwide on a daily basis. Therefore, from a punter’s perspective, opportunities swing by at a great frequency.

However, a successful horse racing punter is that who not only knows how to identify a winning horse in a particular track but also understands the market properly.