Wednesday, June 24, 2009

Sunday, June 21, 2009

Betting on Horse Races - Exotic Horse Bets

Horse Racing, Horse Betting

New to horse racing and betting. Well, once you've mastered the three basic horse racing bets and the two additional bets based on the the three basic, it's time to look at some more Exotic Bets.

Trifecta - The "Trifecta" bet is picking the exact winner (Win), second place finisher (Place), and third place finisher (Show) in a given horse racing event. So unlike the basic bets where you pick one horse to place in a given spot (or range of spots), this bet requires you to bet on three horses and properly predict which horse will come int first, second and third. This horse bet can pay out quite well as you might imagine, because it is such a difficult one to get right. The payout depends on the odds of each of the horses you bet on and you can only bet the Trifecta in one race.
Exacta - The "Exacta" bet is picking both the winner and second place horses, in order, in a given horse racing event. Similar to the Trifecta, except you don't need to bet on which horse will come in third, so in this case you're only betting on two horses (which is somewhat easier than the Trifecta). This is also a high payout bet, but since it's easier than the Tricfecta, it pays less than that.

Quinella - this bet is picking the two horses that will come in first and second. However, unlike the Exacta, you don't need to specify which horse comes in first and which comes in second, yous simply pick the two horses that will place first and second, which makes it easier than the Exacta therefore not paying out as much. So in essence, the Quinella is the Exacta bet, but without the order mattering.

Daily Double - this bet requires you to bet on the winning horses of TWO consecutive races. A pretty tough bet to make, but will pay out quite well if you win!

Pick 3, Pick 4, Pick 5 or more - these bets are the same idea as the Daily Double (but without the cool nickname). The Pick 3, for example, requires you to bet on the three winning horses in three consecutive horse races. The Pick 4 is betting the 4 horses in 4 consecutive races. The Pick 5 is 5 horses in 5 races, and so on....

Saturday, June 20, 2009

How Does a Horse Race Bet Payoff/Pay-Out?

So you get to the race-track and you are eager to bet on the horse race. You see a bunch of random numbers beside the horses. The numbers keep changing every so-often, but you don't know what they mean. These numbers are the ODDS for the given horse. The lower the number, the lower the pay-out. To illustrate, I have listed a large number of odds and their corresponding pay-outs based on a $2.00 bet. The pay-out value listed includes getting back the $2 you initially bet as well as the profit from winning.

Horse Racing, Horse Betting
Odds - Payoff ($)

  • 1-9 $2.20
  • 1-5 $2.40
  • 2-5 $2.80
  • 1-2 $3.00
  • 3-5 $3.20
  • 4-5 $3.60
  • 1-1 $4.00
  • 6-5 $4.40
  • 7-5 $4.80
  • 3-2 $5.00
  • 8-5 $5.20
  • 9-5 $5.60
  • 2-1 $6.00
  • 5-2 $7.00
  • 3-1 $8.00
  • 7-2 $9.00
  • 4-1 $10.00
  • 9-2 $11.00
  • 5-1 $12.00
  • 6-1 $14.00
  • 7-1 $16.00
  • 8-1 $18.00
  • 9-1 $20.00
  • 10-1 $22.00

This list does not inclued every possible odd (obviously), so to figure it out on your own, here is how it works. Briefly: you take the odds, multiply it by the amount you bet and then add that number to the fill amount you bet.

Example: Lets take the odds 1-5 with a $2 bet.

  • Take the odds 1-5 = 1/5 = 0.2
  • Multiply the odds (0.2) by the amount of money you bet ($2). Therefore, 0.2 x $2.00 = $0.40 (this is your profit)
  • Now take the profit and add the intial bet ($2). Resulting in $0.40 + $2.00 = $2.40

Hopefully this makes things a little more clear when you go to decide which horse you want to bet on!

Betting on Horse Races - Basic Types of Bets

Horse Racing, Horse Betting If you are brand-new to betting on horse races then you should read this article. Here I will explain the three most basic types of bets you can place on a horse race. They are not only straightforward to understand, but they are easier to win at also.

The three basic types of Horse Race Bets are: Win, Place, and Show.

Win Bet - Of the three basic bets, the Win Bet is the hardest to win, but will pay out the most money. In this type of bet, you simply place your money on the one horse you think will come in first place! To place this type of bet you'd simply say "I'd like to bet $2 to Win on Horse number 2" (where the dollar amount and horse number* will depend on your situation). When you bet on a Win, you get paid out on the exact odds displayed for that horse (no modifications to the displayed odds are needed)

*Every horse in the race will be given a specific number, which you will use when placing bets. You don't use the name of the horse when betting, instead you use it's number. You can find the horse's number in the racing program, daily racing form, or on the horse itself. If you are unsure, just ask for help.

Place Bet - the second most difficult of the basic bets and the second highest pay-out. For the Place Bet, you bet on the one horse you think will finish in either first or second place (so EITHER of the two top spots). This is easier then the Win Bet because your horse can finish in one of two positions, instead of just the winning position.

Show Bet - the final basic bet is the easiest to win, but pays out the least amount of money. In the Show Bet you bet on the one horse you think will finish either first, second or third (so ANY of the top three spots).

Now that you understand the three most basic bets, there are two more simple bets that are based on the ones above.

Across The Board Bet - You bet your horse to Win AND Place AND Show. If your horse finishes anywhere in the first three positions you win. Unlike the Show Bet (where you get the same payout no matter which of the top three spots your horse finished), the Across The Board Bet pays out more money the higher your horse places. It works like this, with the across the board, you are essentially betting ALL three Basic Bets in one shot. You are betting on it to Win, Place and Show. So if your horse comes in 3rd, you win as if it were simply a Show Bet. If it places second, you win a Show Bet AND a Place Bet. If it comes in first, you win a Show Bet, Place Bet, AND a Win Bet. So you can see, in the Across the Board and the Show Bet you win no matter what position the horse comes in (as long as it's top 3), however in the Show Bet, you want your horse to place at the TOP position to get the maximum payout.

Win-Place Bet - You bet your horse to Win AND Place. If your horse finishes in either of the first two positions you win. So again, with this bet it's a combination of the Win Bet and the Place Bet. So if your horse places second, you'd win as if it were a straight Place Bet. If you come in first you get paid as if it were a Place Bet AND a Win Bet. So to get the max payout, you again want your horse to place first.