If you want to learn about the types of horse racing bets, you are in the right place! Similar to other sports, horse racing also has a vast diversity of betting options. Some of them are pretty simple to understand, for example, the win bet. But others are more complex. Some people simply bet on which horse will win, and they do not bother with the more difficult betting options. Of course, the odds of the more complicated bets are much bigger, and you could win a lot more.
Each betting type has a different name which depends on your location. We decided to tell you more about the most popular horse racing bets. Some of them were available only with parimutuel wagering, but nowadays, you can find them at many online bookmakers. The three most significant horse racing bets are straight, exotic, and multiple bets. Keep reading to find out more about the types of bets horse racing.
Straight Types of Horse Racing Bets
These wagers are ones of the most popular wagers in horse racing, so if you are a beginner, we recommend trying them out in the beginning. All bookmakers will have straight bets which you can place on the outcome of the event.
You probably guessed from the name what the win bet means – you simply place a wager on the horse that is going to win, and if it does, you collect your winnings. This betting type is also known as “betting on the nose.”
This bet differentiates depending on your location. If you are from the US, then you can bet on a horse which comes either first or second, and if it does, you receive your winnings. However, in other countries around the world, this wager means that your horse will finish “in the places.” The positions depend on the total number of horses in the race.
Let’s say that we have six horses in the race – this means that the places are the first two positions. If the number of horses was 11, the winning positions are the first three. Sixteen horses would mean that the first four positions are winning ones with this bet. The payout depends on the position that your horse finishes. The odds here are lower than with the win bet, but you have a bigger chance of winning.
The show bet is famous in the United States, and you get a payout if your horse finishes in the top three.
Across the Board
This is another famous horse racing bet in America. It combines the three previous ones that we mentioned, so if the horse you chose wins the event, then you receive three payouts. In case it finishes second, then you receive the money from the place and show bets. If it finishes third, then you win only from the show bet.
It is a good option for those of you who want big odds in case the horse wins, but also want to receive money if it finishes in the second or third place. A 5$ wager means that you have to pay 15$ because you are essentially making three bets.
Each Way Bet
The each way bet is popular in many countries and is a combo of the win and place bets. Half of your stake goes into the win bet, and the other half goes into the place bet. If the horse wins, you receive a payout from both bets. For second and third place finishes, you will receive money only from the place bet.
These types of horse racing bets are more advanced than the regular ones because it is harder to win them. Of course, if you do, then the odds are excellent.
With this bet, you can predict the first two horses in the race, and they must be in the right order. Other names for this bet are perfecta, dual forecast, and exactor.
Here you have to guess the first three horses in the race. Other names include tricast bet and triactor bet.
It is the same as the regular exacta, except you do not need to predict the correct order. This betting type is also known as reverse perfecta, reverse forecast, reverse exactor, and quinella.
You probably guess that the reverse trifecta is the same as the reverse exacta, but the only difference is that you need to bet on the first three horses. Here, their order does not matter. If all of you horses finish in the top three, then you receive your winnings. This bet is also known as a combination tricast or a reverse triactor.
Multiple Types of Horse Racing Bets
Exotic bets are also known as multiple bets because you need to make more than one selection in a race. But usually, multiple bets means that you make a bet with multiple selections in different events. Here are some examples:
The double bet means that you need to predict the winner horse in two races, and if they both with, you get a payout with the odds of each horse multiplied together. Of course, the offer is tempting, but it is difficult to win double bets.
This is the same as the double bet, but you need to choose the winner horse in three events, and they all need to win for you to receive a payout.
Similar to the previous two, the accumulator is a bet which involves four our more winning horses in different races. Each horse needs to win its respective race if you want to collect anything.
We hope that our article about the types of horse racing bets answered all of your questions.