Bet Like a Pro: 5 Types of Horse Racing Bets You Can Make
Besides the thrill of the race, what makes horse racing fun is the excitement of betting. Like any other gamble, you place your wager, take the ticket, and collect the payout when your bet wins. When you are particularly unlucky, you either throw the ticket away or rip it off.
But it is not always luck that rules a horse racing gamble. So in the upcoming 2022 Preakness Stakes, do not forget to employ wit and strategy in staking your money on the best contenders! Here are five types of horse racing bets you can make and generously profit off:
Win, Place, Show
If you wish to keep it simple, then win, place, or show bet is the best option. It is easy; your racehorse must place first, hence “win,” for you to receive the payout for the win bet. However, it is the riskiest bet among the three.
Moreover, your pick must place first or second for you to win the place bet. Finally, your pick must finish first, second, or third for you to win the show bet. It is the bet with the least risk among the three. Note that the more high-risk the wager is, the bigger the profit.
Quinella
Did you know that you can wager on not just one but two horses? As you calculate the TVG Kentucky Derby odds, you can bet on two racehorses to triumph in the race and maximize your profit! Betting on multiple horses is generally called an exotic bet. Among its subtypes include quinella.
In a quinella bet, you must select two runners to finish first and second place in either order. It is the type of bet that ensures good returns at a relatively safe yet flexible wager.
Boxing Exotic Bets
As mentioned above, you may place bets on multiple horses. It increases both risk and chances of winning. You can increase your profits significantly by following the style of boxing exotic bets.
Like in a quinella, you can bet on two runners to place in the top two. You can also bet on three runners to finish in the top three and four in the top four. What makes a bet more advantageous despite the risk is that no particular order is required. So long as your picks are in the rankings, you have money to take home.
Vertical Exotic Bets
Betting on several horses with no particular order or ranking to account for is nothing compared to the challenge of vertical exotic bets. In this wager, you must ensure that your picks finish in the exact order you have specified in your bet.
The risk is much higher, but so is the payout! Try to guess which is the riskiest among the possible combinations for vertical exotic bets below:
Straight Exacta
To win a straight exacta, you must specify which two runners are your picks to place first and second. It has to be in the correct order.
Straight Trifecta
To win a straight trifecta, you must specify which three runners are your picks to place first, second, and third. It also has to be in the exact sequence.
Straight Superfecta
To win a straight superfecta, you must specify which four runners are your picks to place first, second, third, and fourth. Like exacta and trifecta, it has to follow the rankings accurately.
Horizontal Exotic Bets
It is not uncommon to seek greater risks and gratification in gambling. In horse race betting, you may also combine bets from other games through horizontal exotic bets. While you can place wagers on multiple horses in a single event, you can also stake your money on the outcomes of multiple race events!
You guessed it. The risk will increase exponentially, but so will the payout. Here are the possible combinations for horizontal exotic bets:
Daily Double
To win a daily double, you must specify which runners are your picks to place first in two consecutive races. It seems simple yet very risky but profitable.
Pick 3
To win a pick 3, you must specify which runners are your picks to place first in three consecutive races. It works like a daily double bet, only riskier and more lucrative.
Pick 4
To win a pick 4, you must specify which runners are your picks to place first in four consecutive races. It works like the previous bets mentioned, with further risks and profits.
Pick 5
To win a pick 5, you must specify which runners are your picks to place first in five consecutive races. It is the second-hardest bet to win.
Pick 6
To win a pick 6, you must specify which runners are your picks to place first in six consecutive races. Winning this bet means hitting the jackpot.
Final Thoughts
Horse race betting is more than just an exciting pastime. It can be an intellectual activity that requires good decision-making skills. So equip yourself with the knowledge of bet types and strategies discussed above, play your games right, and bet on the race tracks like a pro!
