When getting started in horse racing betting, most people simply make bets on which horse will win. This is known as simple betting, but things can get a bit more exotic at the racetrack.
There are many more complex horse racing bets that you will find. These bets will require more planning and strategic thinking and they have tighter odds but the rewards, naturally are worth it.
The Non-simple Bets
Non simple bets at their most basic are wagers on multiple horses achieving certain results.
The Exacta Wager – Exacta wagers are placed on the two horses you believe will finish 1st and 2nd.
You will also need to pick the correct order in which they will be finishing the race.
- The Quinella – The Quenelle wager is a bit more lenient. Here you pick two horses you believe will finish 1st and 2nd but in no particular order. The odds here are lower than with the Exacta bet because you don’t need to also correctly guess the order that the top two horses will finish in.
- The Trifecta –This wager lets you bet on the first three horses, in specific order. This wager offers some of the highest payouts available for casual or beginner bettors.
- The Superfecta – The grand daddy of horse racing bets, this wager lets you bet on the top 4 finishers in the correct order. This wager can cost a pretty penny to make and for many bettors it can be debatable if the returns are worth it. It is a big risk for a big reward. This is one of the favourite wagers to place for many fans when they take part in Caulfield Cup Betting.
The next set of possible horse racing bets are almost like accumulator bets. I just call them pick bets. You must select a horse or horses that will win a series of racing events.
- The Daily Double –this wager is that your horse will win two races in a row, consecutively.
- Pick 3 – the Pick 3 wager is for a wager that your horse will win the next three races. We are really getting into risky territory here now as it is very rare for a horse to win multiple races in row.
- Pick 4 –Ass the name suggests, here we are wagering on 4 consecutive races and the payoff here can be immense.
- Pick 6 –Pick 6 bets are essentially like buying a lottery ticket. It would be an amazing feat if a horse finishes 6 winning races in a row, but this is the wager made for that eventuality.
Complex horseracing betting is the natural progression for any person who becomes more experienced with horse racing.
You will need to have a firm grasp on the horses competing’s strengths and weaknesses, historical performances, who their riders are etc.
Knowing the field is essentially to having success with complex bets so take the time to become familiar with your horses, check their stats, past performances and see what the horse racing media is saying about each horse’s chances.