An overview on the different types of horse racing bets – Explaining your betting options

An overview on the different types of horse racing bets – Explaining your betting optionsIf you’re into horse race betting, you’ll know that you can bet on a horse race winner. However, are you aware of the fact there are plethora of horse racing wagers to select from? There are many who don’t know about them and hence they automatically miss out on the best betting opportunities. This is why experts recommend every punter to know all the diverse kinds of horse racing wagers that are available in the market. In fact, they also suggest that it is imperative to know the betting options in case you’re serious about making money. If you bet only on the winner of the races, this can restrain your possibility of attaining success while on the other hand; utilizing a variety of wagers is more likely to be profitable in the long run.

Are you a casual bettor? If answered yes, you can bet on the major horse races but nevertheless it is always a good idea to stay aware of all options. There are several wagers which are more stimulating than just betting on the race’s winner and they always offer you more potential for receiving better payouts. Read on to know more on the different types of bets for horse racing.

TRADITIONAL HORSE RACING BETS

The conventional horse racing wagers are called straight bets and these are not just the most famous kinds of wagers but also the most straightforward too. The straight bets are as follows:

  • Place
  • Win
  • Across the board
  • Show

The Win Bet – How it works?

The Win Bet – How it works?This is the simplest bet and hence it doesn’t need too much of an explanation. Here we have to choose the horse which we think might win the race. If the chosen horse reaches the post first, you receive a payout but then you will still lose your stake if the selection doesn’t win. Now you need to know that the payouts for the successful win bets are not all calculated in a similar manner because everyone doesn’t use similar kind of bookmaker or doesn’t place the bets in a similar location. With fixed odds, you will also know the exact payout of the wager that is going to win.

Place Bet – How it works

The place bet works in the US and in few other countries and it is based on the wager on a horse which finishes the top 2 positions. You get a payout in case the selection finishes in either the second or the first place. On the contrary, you’ll lose the stake when the selected horse finishes third. The payouts here are lower as compared to win bets but the place bet certainly offers a higher chance of winning. One more thing that you need to take note of is that the place bet is available in races which have minimum 5 runners.

Show bet – How it works

This is in many ways similar to the place bet and this covers the top 3 positions. Hence, it is clear enough to say that the wager will get a payout if the selected horse finishes either first or second or third. Though the chances of winning are greater here, yet show payouts are lower than place payouts. There should be 8 runners in a race in order to get the show bet available.

EXOTIC HORSE RACING BETS

These bets are a bit more advanced that the traditional bets. Being more advanced, they’re also a hard nut to crack. There are many who bet the exotics for just excitement and thrill. Here are the main exotic bets.

  • Quinella
  • Exacta
  • Trifecta

Exacta Bet – How it works

This is a bet type where 2 horses will finish the top 2 positions. In order to win, you have to get both the horses right and also in the right order. This is tougher than just choosing a winner and hence the potential payouts can be considerably higher than the win bets.

Quinella Bet – How it works

Quinella Bet – How it worksQuinella exotic is in many ways similar to exacta and here you only need to choose which 2 horses will finish the top 2 positions and that might not be the exact order. Quinella is easier to make it right and hence average payouts are a bit lower.

Trifecta Bet – How it works

Trifectas are even tougher to get right as you have to predict the top 3 horses. These aren’t wagers which you will win often but the payouts are usually enormous. There have been records of payouts being around a million dollars!

Therefore, if you’re someone who is interested in horse racing bets, you should firstly be aware of the different types of bets. Take into account the above listed options in order to win the race bets.

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