Horse racing is a very popular sport amongst gamblers and bettors. Most of the people engage in horse race betting before starting with other sports.
In order to place your bets on the horse, you need to understand the different types of bets. In horse racing, you will come across various types of bets.
The types of bets are divided into two categories. The easiest and simplest category is Straight bets, but if you want to take betting to a whole new level, you can engage in exotic bets. These bets are complicated and require additional skills.
Types of horse racing bets:
Here are the types of horse racing bets divided into two categories, i.e. straight bets and exotic bets.
These are the simplest types of bet. If you are new to horse racing, you need to stick with straight bets. These bets are cheap and easy to win. Here are the types of straight bets. You can only bet on one horse in this type of bet.
- Win: You place the bet on only one horse to come first in the race. If the horse wins, you will get the winning money.
- Place: In this bet, you claim two spots, i.e. first or second. If your horse finishes on first or second, you will win. However, the payout is less compares to win.
- Show: In this bet, you claim three positions, i.e. first, second or third. If the horse you bet on secures any of the three positions, you will win. The payout is less compared to the first two bets.
- Across the Board: In this type of bet, you place three straight bets on one horse. You have to pay money for all the three positions. So if your horse comes first, you will win all the three bets. If your horse comes second, you will win only two positions. If the horse comes third, you will only get money for one.
- Win/ Place, Place/ Show: This is another combination bet. However, you can either bet on win/ place or place/ show. If you go with the first one, you will get money if the horse finishes first or second. If you bet on place/ show, you will get money if the horse comes second or third.
In this type of wager, you can bet on various horses at once. It helps you to win more money. These bets are complicated and risky. It is very difficult to win. Here are the types of exotic bets.
- Exacta: In this bet, you place the bet on toe horses. The bet needs to be in order for the horses to come first and second.
- Quinella: In this bet, you wager on two horses to win the first and second position. However, there is no particular order.
- Trifecta: Here, you bet on three horses. These horses have to win in first, second and third position in the exact same order for you to win the bet.
- Superfecta: Here, you bet on four horses instead of three. They have to come first, second, third and fourth in the same order for you to win.
These are two categories of horse racing betting. You can start with straight bets and go with exotic once you get the hang of it.