Do you want to learn a little about wagering on the ponies? To calculate your $2 win price, take the odds of your horse and multiply the first number by 2, divide that by the second number, and then add $2. Here is a list of payoffs at various odds for quick reference:
Betting Odds with $2 Minimum Payoff
|ODDS||$2 PAYOFF||ODDS||$2 PAYOFF||ODDS||$2 PAYOFF|
Types of Horse Racing Bet Types
WIN: A bet on a horse to win .
PLACE: A bet on a horse to finish either 1st or 2nd.
SHOW: A bet on a horse to finish either 1st, 2nd or 3rd.
The above explanation of types of bets are the most widely used with novice players. These types of bets are pretty simple to make although if you want to test your skills and start making more complex bets below are some examples. These types of bets are known as exotic bets. They get more complex and harder to accomplish but if your willing to take that leap, lets get started!
EXACTA: A bet picking the 1st and 2nd place finishers in a race.
TRIFECTA: A bet picking the 1st, 2nd and 3rd place finishers in a race.
SUPERFECTA: A bet picking the 1st, 2nd, 3rd, and 4th place finishers in a race.
DAILY DOUBLE: A bet picking the winners of two races, usually two consecutive races.
PICK 3: A bet picking the winners of three consecutive races.
PICK 4: A bet picking the winners of four consecutive races.
PICK 5: A bet picking the winners of five consecutive races.
PICK 6: A bet picking the winners of six consecutive races.
Straight: Refers to any wager placed where there is only 1 combination. For example, a Trifecta with horses 1/2/3 would be a straight bet. Since a straight bet is only 1 combination, the total cost of the bet will the amount of the bet. For example, if you bet this Trifecta for $2, it would cost a total of $2. A multiple race exotic wager may be referred to as “Straight”, if you take only 1 horse in each race.
Box: A boxed wager is where you take every possible combination of a set of horses. For example, a Trifecta Box with horses 1,2,3 would cover every Trifecta possibility with those 3 horses. In this example, it would come out to 6 combinations, or 6 bets. So if you bet this Trifecta Box for $1, it would cost a total of $6.
Key: If you a key a horse, it means you are taking the horse by itself on top and you will take several horses behind. For example, if you bet a Trifecta Key 1/2,3,4,5 you are betting that the 1 horse will win the race, and the 2nd and 3rd finishers will be one of those other 4 horses you choose. However, your key MUST finish first for you to collect on this wager. In this example, the Trifecta is 12 combinations (would cost $12 for $1 bet).
Wheel: A wheel refers to taking the entire field for a leg of a wager. For example, you might bet an Exacta Wheel if you think you know the horse that will win but you don’t know who will finish 2nd. An example would look like 1/ALL. In this example, the number of combinations is the number of horses in the race besides the 1. Taking ‘ALL’ for a leg is very common in the last leg of a Trifecta or Superfecta since it is very difficult to predict who will run 3rd or 4th. A bettor may also take ALL in multiple race exotic wagers if a race is wide open and they have no idea who will win that race or leg of the wager.
Partial (Wheel): A partial is any combination of horses that does not fit one of the special combinations listed above. One example of a partial would be a Trifecta with the horses 1,2/1,2,3/1,2,3,4. This is a custom combination where you need the 1 or 2 to win, the 1,2, or 3 to run 2nd and the 1,2,3, or 4 to run 3rd. This particular example is 8 combinations. Partials are very common but their cost can sometimes be difficult to calculate.
Reverse: Reverse is an informal term, typically referring to Exactas. Some bettors may “press” an Exacta one way if he thinks a horse has a better chance to win, but then “save” his bet in the Reverse. This can be more cost-effective than boxing because the bettor is wagering more money on the combination with his/her favorite horse on top. One example, would be if you bet $5 Exacta 1/2,3 and then bet a $2 Exacta 2,3/1 to save with the Reverse for less. In this case you are hoping that the 1 wins, but in the case where the 1 runs 2nd to your other 2 choices, you hope to at least cover the total cost of your wager.