It’s doesn’t matter whether you are a veteran at punting or a newbie; one thing is certain, you want to win. Perhaps, you’ve mastered all the factors to look out for when you want to pick a winner; it’s also important that you understand the diverse types of betting available in horse racing. Taking advantage of these betting types can go a long way in increasing your odds and offering you great returns. Without beating about the bush, the horse racing tips below will help. Here are the different types of Horse Racing Bets Explained.
Win, Place & Show.
It’s important that you place bets you have the full understanding. If you are a sports-betting rookie or newbie, you might want to stick to bets that’ll not confuse you. Win, Place, Show are examples of such bets. In fact, they are referred to as straight bets.
Win involves betting on a horse to win, i.e., for a horse to come in the first position. Any other outcome means you won’t get any returns for your investment. Sound unfair? That’s where hair and Place come in.
Place and Show are more odd-increasing bets that allow you to get returns for your wagers. You’ll get returns if your horse comes in first or second Place for show bets, while Place is even more robust as you’ll still get returns if your horse comes in first, second, or third.
Exacta, Superfecta, Trifecta, and Quinella.
These bets are referred to as exotic bets. They are a little complicated, not because they are hard to understand but because they involve selecting more horses in a single bet. For a rookie, it might be difficult to focus on two many horses and outcomes simultaneously.
Exacta involves betting on two horses to finish in first and second place. The downside is that the two-horse must cross the finish line in the exact order you predicted to win. Meaning if you pick horse A to finish first and horse B to finish second, you won’t get any returns if horse A comes in second and B comes in first; or any order positions different from your prediction.
Trifecta involves picking three horses that’ll come in first, second, and third in the exact order. A slightly different outcome means you’ve lost the bet.
It is similar to trifecta but different because you have to choose four horses to finish a specific order in a single race.
Boxing is not a bet per se but a strategy to improve your odds by placing multiple bets that cover possible outcomes. For example, you can box an exacta that horse A Wins/horse B Places, and also that the same horse A Places/horse B Wins.
Another type of boxed, odd-raising betting is the Quinella. It involves betting that two horses must win or Place, however the finishing order of the horses doesn’t matter.
Why Quinella & Not a Boxed Exacta?
Both involve wagering on two horses. So the best time to go Quinella is when you think a lesser-priced horse will win while the favorite will come in second. This way, you’ll get more money than boxing an exacta.
On the other hand, if a higher odds-horse will finish first, while the one with lower odds will come in second, you can biz an exacta as few people usually combine bets this way. This bet toe is not an exhaustive list so add more horse racing tips to the knowledge you gain here about betting on horse racing.