As you probably know, the win bet is not the only bet you can make at the tracks. There are many bets that you can make, the most basic being the win, place, and show bets. These three bets are commonly referred to as “WPS.” A win bet is just what it sounds like; you are making a bet that the horse of your choice will come in first. Place and show bets are a bit broader. A place bet signifies that you think your horse will finish in either first or second place; a show bet means that you think the horse will finish in the top three. These bets, because they are broader and thus easier to win, will pay a lower amount the vast majority of the time (but not always).
Single race bets
Pace Handicapping – Horse Betting 101 In horse racing, the winning horse is of course the fastest one in that race. All horses start in a straight line and the first one to cross the finish line is the winner, he therefore covered the race distance the fastest. Horse betting has something for all, whether you are still a novice or an expert there is always something to new to learn on different strategies that might appeal to you. Strategies help the bettor pick the right selections when one wants to invest more in a race.
These bets dominated the horse betting scene for the longest time. It wasn’t until recently that the so-called “exotic” bets gained in popularity. Usually offered rarely and only at certain tracks, the multi-horse, multi-race bets that dominate the betting scene now were so rare at one point that they earned the term “exotic” was coined to describe them. The most prevalent of these bets is the exacta because it is the simplest to understand. Because it is so simple, people misleadingly think it is an easy bet to win at. This bet requires that you select the top two horses in the given race in the correct order. Many people will “box” this bet so that they will have both combinations. In reality, this is two bets; one bet for horse A then B, one bet for horse B then A.
You can dig even deeper into the finishing order if you wish. The trifecta is where you select the first three horses in the correct order. A superfecta is an effort to predict the first four horses. As you probably can guess, these become progressively harder to do the deeper you go. It is possible to box these bets as well.
If these options weren’t enough to satiate bettor’s appetites, you can also bet on more than one race at a time. These parlays require that you predict the top horse in two, three, or even six races in a row. The daily double, as it is called, requires that you pick the top horse in two consecutive races. This is the oldest of the exotic bets, and was done as a ploy to get people to arrive at the racetrack earlier since it originally encompassed the first two races on a card (hence the term “daily”). The earlier people got to the track, the more money the track was raking in.
The pick 3, pick 4, and pick 6 are obviously harder bets to win. The payouts for the pick 6 can sometimes go into the six figures and it is not uncommon for even a pick 3 to bring in over $1,000.
Now that you know what you can bet on, we will look at selecting which horse you should bet on. Our next course will look into the factors that make one horse look like a more attractive bet than another.
|Pre-K||Horse Racing Basics|
|Kindergarten||Pari-Mutuel System Betting|
|1st Grade||Horse Racing 101|
|2nd Grade||Why Pick One Horse Over Another|
|3rd Grade||Reading Horse Charts|
|4th Grade||Why Class Matters|
|5th Grade||Speed Figures|
|6th Grade||Intro to Exotic Betting|
|7th Grade||Exotics Part II Multi Race Bets|
|8th Grade||Selecting the Right Races|
|9th Grade||The Morning Line|
|10th Grade||Money Management|
|11th Grade||Betting Tactics to Avoid|
|12th Grade||Perfecting the Craft|
Win, Place and Show bets are the most common wagers placed among horse racing bets. They generally have lower payouts than exotic bets, such as the Exactas and Quinellas, but they are also a lot more frequently paid.
Understanding Win, Place and Show Betting
For a horse to “Win”, it must finish in the first position. If you bet on them to win you get paid only if they win the race.
A horse that “Places” is one that finishes in the second position, but a bet on a horse to place will payout if your chosen horse finishes first or second.
“Show” means a horse has finished in the third position. However, betting on a horse to Show does not necessarily mean it must finish third, but rather in the first, second or third position.
Above is an example of the “win place show” menu at Bovada.lv where you can bet on any horse to either win, place or show. You will also get $250 free at Bovada for the Kentucky Derby.
The more difficult a bet is to win, the more you can generally expect to be paid. However, due to the foundation of pari-mutuel betting, this isn’t always true. The more money that is placed on a specific bet, the lower the payout becomes. Viewing the tote board will tell you the payout probability of each specific bet at that moment.
Because bets are constantly coming in up until the start of the race, these odds can change drastically from the time you place your bet to the time the race begins.
If you are looking for bigger payouts I recommend the “win” or “place” bet if it is a mid to long shot. Betting on a favorite to “show” won’t pay out much, but betting on an underdog to show can often have a good payout. Head over to Bovada.lv for the best online horse racing betting.
Horse Racing Betting – Win Bets
- A Win bet is a manner of horse racing betting where the person selects a single horse in the race to finish in first place. The wager is only won if the horse finishes in first.
Horse Racing Betting – Place Bets
A Place bet is a manner of horse racing betting that requires the bettor to select a single horse in the race to finish in either first or second place. So long as the horse places (finishes in first or second), the bet is won. The amount paid on the bet is unequivocal, (i.e. the payout is the same no matter whether the horse finishes first or second.)
Horse Track Betting 101
Horse Racing Betting – Show Bets
A Show bet is a manner of horse racing betting wherein the bettor selects a single horse in the race to finish anywhere in the top three positions. If the horse Shows (finishes in first, second or third), the bet is won. The amount paid is unequivocal, (i.e. the payout is the same no matter whether the horse finishes first or second.)
Horse Racing Betting – Win-Place Bets
Horse Betting 101 For Dummies
A Win-Place bet is a manner of horse racing betting that is much like a Place bet. The bettor is choosing a single horse in the race that he/she believes will Win or Place (finish in first or second). If the horse Wins or Places, the bet is won. However, unlike the Place bet, the finishing position of the horse will determine the exact payout received on a bet, according to the probable payout odds on the tote board (i.e. a Win pays more than a Place.)
Horse Racing Betting – Win-Place-Show Bets
Betting On Horse Racing 101
Also known as an “Across the Boards” bet, a Win-Place-Show bet is a manner of horse racing betting that is much like a Show bet. The bettor selects a single horse to Win, Place or Show (finish in first, second or third) in the race. If the horse Wins, Places or Shows, the bet is won. In contrast to the Show bet, however, the finishing position of the horse will determine the exact payout received on a bet, according to the probable payout odds on the tote board (i.e. a Win pays more than a Place; Place pays more than a Show.)