Betting on horses has been a favorite pastime of horse owners, gamblers and just about everyone else associated with race horses ever since humans first figured out how to ride them. The domestication of horses thousands of years ago always led to discussions of who had the fastest horse — discussions that could only be settled in one way — by racing one horse against the other. Betting was simple — win only. Second and third didn’t count.
Fast forward to the 20th century – horse racing in North America has become organized to the point where everyone can participate. Bettors (and other forms of gamblers such as slot players) are now the lifeblood of modern horse racing. Without them there would be no organized racing. Fifty years ago when horse racing was the only form of legalized gambling, nobody in racing management really cared about the bettors (some still don’t). They offered bettors just enough unimaginative betting options to keep the money flowing through the pari-mutuel windows and that was it.
This is no longer the case.
How to bet on horses
When you place your bet, you will need to place it in a certain order. Tell the clerk:
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- What track
- Race number
- Amount of your bet
- Type of bet
- Number of the horse(s) you are betting on.
Types of Bets
Straight Wager Bets
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- Win – Pick a horse to finish first. This is the most common and simplest bet you can place.
- Place – Pick a horse to finish first or second.
- Show – Pick a horse to finish first, second, or third.
Exotic Wager Bets
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- Exacta – Pick the first and second place finishers in exact order.
- Trifecta – Pick the first, second, and third place finishers in exact order.
- Superfecta – Pick the first, second, third, and fourth place finishers in exact order.
- Box – You can also box any of the exotic wager bets, which will place a bet on any combination of the horses you have chosen. This increases your chances of winning, but also increases the cost of the bet. For example, a $1 Trifecta Box costs $6 because you are effectively placing 6 bets.
Multi-Race Bets
Multi-race bets are pretty much what they sound like. You will choose the winner in X number of consecutive races. These bets are called
- Daily Double – Pick the winner in two consecutive races.
- Pick Three – Pick the winner in three consecutive races.
- Pick Four – Pick the winner in four consecutive races, and so on…
Betting terms in races at major festivals may be subject to place enhancements at the bookmaker’s discretion. For instance, many firms now offer 6 places for the Grand National.
Double – A single bet on two outcomes in different events. Both selections must win to guarantee a return.
Treble – A single bet on three outcomes in different events. All three selections must win to guarantee a return.
Four-fold and above – The traditional accumulator comes in the form of fourfolds and above. As with the doubles or trebles, this is a group of selections and all of them must win to guarantee a return.
Trixie – A bet comprising three selections and four bets – three doubles and a treble. A minimum of two selections must win to guarantee a return. For example, a $2.50 Trixie would cost $10. A $2.50 each-way Trixie would cost $20.
Patent – A bet involving three selections and seven bets – three singles, three doubles and one treble. It is the equivalent of a Trixie but with the addition of three singles. For example, a $2.50 Patent would cost $17.50.
Lucky 15 – A popular betting type among punters, it consists of four selections and 15 bets (hence the name) – four singles, six doubles, four trebles and a fourfold. Equivalent to a Yankee but with four singles, and only one selection must win to guarantee you a return. For example, a $2 Lucky 15 would cost $30.
Yankee – A bet consisting of four selections and 11 bets – six doubles, four trebles and a fourfold. A minimum of two selections must win to guarantee you a return. For example, a £2 Yankee would cost £22.
Lucky 31 – A wager consisting of five selections and 31 bets – five singles, ten doubles, ten trebles, five fourfolds, and one fivefold. Only one selection must win to guarantee you a return. For example, a $1 Lucky 31 would cost $31.
Lucky 63 – A bet featuring six selections and 63 bets – six singles, 15 doubles, 20 trebles, 15 fourfolds, 6 fivefolds and one six-fold. For example, a $1 Lucky 63 would cost $63.
Forecast – A straight forecast is correctly predicting the finishing order of the horses in first and second in a race.
Reverse Forecast – A reverse forecast is correctly selecting the first two horses but in no particular order.
Placepot – The Placepot is another favourite for racegoers. Select a horse in each of the first 6 races at a specific racecourse on a single day, and if that horse finishes in the placings you win a share of the total pool. One unplaced selection and the bet is off!
Jackpot – Quite possibly the hardest bet to win. Correctly predict the first 6 winners at a specific racecourse on a single day to win a share of the pool. One wrong selection and the bet is off!
