Horse betting is an exciting type of wagering that many punters are looking forward to all the time. However, despite the excitement it provides, it also has some frustrations due to its confusing nature.
The betting types are one factor that makes horse wagering confusing, especially amongst rookie bettors. So, if you want to pursue betting in horse races but can’t wrap your head around the types of bet made available for you, here is the list of all wagering types, from the basics to the more advanced betting games.
The Basics of Horse Wagering
If you are new in this industry, you should start learning the basic types of wagering. Learning these helps you better understand the much more complicated ones.
To start, here are the typical types of wager you can come across during your betting journey.
The most popular amongst newbies and the most straightforward bet you can encounter is the win bet. This type of bet is straightforward. You will need to place your bet on the horse that you think will finish first in the race. Once the horse you choose indeed finishes first, you will win.
Another basic betting is the place bet. This type is fairly similar to the win bet, but you will need to place a bet on a horse that will finish second or first. Once the horse you placed your bet on finishes first or second, you win.
The third basic betting type is the show bet. When you choose to bet on this game, you will need to choose a horse that will finish third, second, or first. When the horse you have chosen finishes the race in these places, you win.
Across the Board
As the name suggests, betting across the board means that you will bet on three different types of the aforementioned betting combined in one. Once you place your bet across the board, it will be automatically placed on win bet, place bet, and show bet.
If your chosen horse wins the race, you will also win and collect money three times for the win, place, and show bets. If the horse finishes in second place, you will win and collect your prizes for the place and show bet only.
However, if the horse finished at third, you will only collect once for the show bet. In short, across the board, betting is like placing three different bets for three different wagering games at the same time.
Advanced Horse Wagering
After you have learned and got the hang of the basic wagering types of horse betting, it’s time to amp up the ante of your bets and go for the advanced betting types. These games, as the name suggests, are much more complex than the basic ones.
Here are the typical types of wagers under the advanced level of horse betting.
The first advance betting method we will discuss is the exotic bet. This type of bet is difficult to win, but you will profit big when you do. This type of bet will let you place various bets on multiple horses in a single go.
Any bet that is not a win, place, or show bet is considered exotic. Bets like exacta, trifecta, pick four, or pick 6 are examples of an exotic bet. You will need extensive experience, skills, and knowledge to succeed in winning these games.
Daily Double or Double
The daily double, sometimes called double, is a type of wager where you will need to select winners for two successive races in order to win the pool.
If you want to advance on horse betting, the next betting option for you is the exacta. This type of betting will require you to pick two horses in a race that should finish in the first and second place, in the exact order, for you to win.
Trifecta is another betting option for punters, which is similar to exacta. However, in the trifecta, you will need to pick three horses that will finish as top three in the race in the exact order you wagered for you to win.
Superfecta works the same as exacta and trifecta but involves four horses instead.
Exacta Box/ Trifecta Box/ Superfecta Box
This type of wager is a more advanced version of trifecta or exacta, where all the possible combinations of a winning horse will be bet upon the punter. For instance, you placed a bet on an exacta box and selected horses three, six, and nine.
This combination you choose would produce a victory if either two of the three chosen horses finished the race as the first or second regardless of the order. It can be horses 3-9, horses 6-9, horses 9-3, and so on.
Pick Bets (Pick 4, Pick 6, Etc.)
When you wager on a pick bet, you must correctly choose the winners of the consecutive races. For example, if you bet on Pick 6, you will need to correctly predict and pick the winners of the six consecutive races.
A quinella bet is the same as the place bet. You will need to pick two horses that will finish the race first and second. However, the horses can win in any order.
You’re Ready to Place Your Bet!
With all the wagering types on horse betting explained in simple terms, you are now capable of placing a bet on a horse race, whether it is basic or advanced. Start wagering and try each bet to experience and see how it works to grasp it better.
But remember to be responsible when dealing with your bankroll. Set an appropriate budget for wagering and stick to it no matter the outcome of your games.