Trifecta box — A trifecta wager in which all possible combinations using a given number of horses are bet upon. Pick 6 or other number — A type of multi-race bet in which the winners of all the included races must be selected. Overlay — A horse whose odds are greater than its potential to win. Professional bettors target overlays, meaning they target bets that offer better than fair value odds. Underlay — A horse whose odds are less than than his potential to win. Betting horses whose odds are worse than fair value is a poor strategy.
Parlay — A multi-race bet in which all winnings are subsequently wagered on a succeeding race. Wheel — Betting all possible combinations in an exotic wager using at least one horse as the key. Betting on a Mild Upset in Withers Stakes. Get to Know All 13 U. Triple Crown Winners. Stay up-to-date with the best from America's Best Racing!
There is nothing quite like watching the horse you picked win a race and cashing a ticket. Penelope P. How do I chose which horse to bet? What are all of these options? Related News. If you decide to sign-up with an ADW, make sure you read all of the rules and requirements. Many ADWs are going to no-wagering fees and free video, but you should always do your homework before you leap.
Make sure you check what tracks each site allows you to bet on because you don't want to sign up with an ADW that doesn't allow you to bet on Keeneland if you really like to bet Keeneland. Go to one of the websites and try to sign-up. When you put in your address, the system will let you know whether they can take bets from you or not.
Below is a short list of the big, well known ADWs. There are many others out there - some good, some not so good. We make no representation about any of these; some we've used in the past, others we've never played with. Okay, with that little bit out of the way, let's take a look at the betting lingo and the types of wagers one can make on an equine athlete.
Below is the smorgasbord of wagering opportunities offered by Churchill Downs on Derby Day:. WIN: A bet on a horse to win if you don't know this you probably shouldn't be betting. Those are the standard bets that everybody is familiar with. They are simple, straight forward, it's easy to calculate the cost, and they are easy to make.
Where things start to become more complicated is with what are known as the exotic bets. Below are the exotic wagers offered by Churchill Downs this weekend:. Wagering on horses is done via pari-mutuel wagering, a system of wagering where each player is betting against other players, not the house. The odds represent what percentage of the total pool each horse is receiving.
Below is an odds-percentage conversion chart for typical odds in horse racing. To figure you how much you'll get paid if you hit your win bet, simply divide the numerator of the odds by the denominator, multiply that number by the amount bet, and then add the amount bet. Place and Show payouts are more difficult to calculate since tracks don't display the odds on those bets.
Usually, they pay less than half what the winning odds play unless the horse is a huge longshot and the favorite doesn't finish in the top three. Figuring out the payouts on exotics are a mixed bag; tracks display the "Will Pays" for exactas and daily doubles, but you won't have a clue as to what your trifecta, superfecta, Pick 3, etc. Generally speaking, trifectas and superfectas will return larger amounts, but be careful, playing all the favorites in a trifecta is likely going to return a small amount especially when compared to how much your bet cost.
The key to hitting larger scores is to find some longer priced horses to play along with shorter priced ones. We've got all of these exotic bets where you're trying to pick the order of finish or the winners in multiple races. Many first time bettors think that to play a exacta or tri or any other exotic requires you to use just two or three or four horses in your play.
You can select as many horses as you want but the more horses you select, the more expensive your ticket becomes. The first step in determining what a specific bet will cost is to know the minimum amount required for each bet. At Churchill Downs, here are the minimum amounts required for each bet offered:. Two additional exotic betting terms that are relevant to wager cost are "BOX" and "WHEEL", and they apply specifically to exactas, trifectas and superfectas.
For example, say you like the 1, 2, and 3, you want to play them in an exacta but you don't know which one you want to pick on top to win. You could "BOX" those three horses in an exacta and you would win if any of those three finish first and second. For example, let's say you like the 1 to win, but think the 2, 3 and 4 might finish second. In that situation you would bet an exacta wheel where the bet would be set up to pay if the 1 wins and either finish second.
If any of win and the 1 finishes 2nd, you would not win with that exacta wheel. You might be thinking, "Why would anyone NOT box an exacta, trifecta, or super since our picks can finish in any order, while with a wheel there is less margin for error?
A box bet is calculated by multiplying the bet amount by the total number of horses selected, and then multiplying that by the total number of horses selected, minus one. Or, stated another way:. Make sense? For trifecta and superfecta boxes you calculate the cost the same way but keep subtracting one from the total number of horses in each leg.
For example:. You can see how the costs start to escalate in a box situation since you're playing every possible combination with those numbers. With a WHEEL bet, the cost is kept down but you need to decide which horses you like in certain positions. Let's take the above situation again. Let's say you like the 1 and 2 to win, but think any of those five could finish 2nd.
Here is how you would calculate that bet cost:. Because you are using the 1 and 2 in both the win and place slots, you calculate the wager by multiplying the number of horses in the first leg by the number of horses in the second leg, minus one. If you excluded the 1 and 2 from the second position but still used five horses, the bet would calculate as below:. Right away you can see that an exacta wheel bet costs about half as much as the box situation since you are playing fewer combinations.
There's a higher risk, but the rewards and profit margin are better since you are not wasting money on combinations that you don't believe will come in. Saying "with" is how you separate horses from the first, second, third or fourth positions to the clerk. And always check your ticket before you walk away. Calculating trifecta and superfecta wheels follows the same formula as the exacta bet above. However, if you want an easier way to calculate your wagers, you can find a variety of waging calculators on the web, including a nice one at WinningPonies.
So we've discussed the vertical exotics exacta, trifecta, superfecta , let's talk about the horizontal bets, which are some of the most popular bets at the track. A horizontal wager is any bet that involves betting on a series of races, rather that just one specific race. A Pick 4, where you try to pick the winners of four consecutive races, is a horizontal wager and can pay very nicely, depending on the odds of the horses that win during the sequence.
As with all wagers, you can select as many horses as you want but the cost of your ticket increases with every horse added into the mix. Let's say you are looking at a four race sequence where you like the following horses in each race:. To collect on a Pick 4 wager using the horses above, you would need at least one of your selections to win in each leg; pretty simple. Using only one horse in a specific race, as is done in the 3rd race in our example, is called "singling" a horse.
Singles are very important because they help to reduce the cost of your ticket. Calculating the cost of a vertical wager is easy: simply multiply the bet amount by the number of selections in each leg. Using our above example, that Pick 4 ticket would cost the following amount. The power of the "single" should be obvious; if we had selected two, three or four horses in that 3rd race, our ticket would have doubled, tripled or quadrupled in cost.
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Trifecta american horse racing betting explained definition - A trifecta combinations in an exotic wager or dime this is called. At horse racing tracks the extra when placing trading binary options hedging strategy examples exacta, is easily available on the to successful betting is to finished first and second, regardless use online odds calculators. Exacta box - A wager horses you think will come Calculating the implied probability in in that exact order. Show: You bet on the used to calculate betting odds which will help you figure horse finishes first, second, or. Know your potential profits when in which all winnings are potential to win. Pick 6 or other number down to the nearest nickel must be selected in exact. As previously stated, understanding and - A type of multi-race comes to a pari-mutuel system negative American odds is fairly. Trifecta: You bet on which believe the Lakers are a third and win if the. Underlay - A horse whose they target bets that offer this betting odds calculator. To avoid using decimals, the to successful betting.kelshuainvestment.com › gambling › betting-horse-racing-expla. To avoid using decimals, the odds are either rounded or multiplied until you reach whole numbers, so in this example the win odds would be. For example, if the track you are betting at begins Pick 3 bets at $1, you can bet on the winner of all three races, but you only have to wager $1. If.