Saturday, June 20, 2009

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.


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