Explaining Different Horse Racing Bets

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If you’re just getting started with horse racing, you’ll quickly realise that there are more than just a few types of bets to choose from.

From single bets, to doubles, trebles, and a wide range of exotics, the sheer volume of bets to choose from could put off even the most confident beginner.

However, there is nothing to worry about as we’ve got the answer to any questions you may have, and you’ll be betting like a pro in no time!

Is Placing Horse Racing Bets Online Easier?

The answer to this question is an absolute and resounding yes. One of the greatest advantages to placing horse racing bets online is having the ability to shop the odds at a wide range of online sports books.

Not only will you be able to ensure that you are getting the best odds possible, but you will also have access to a wide range of races from around the world.

When placing bets at a physical betting shop, you have to be satisfied with the races and odds on offer. Online sports books also offer regular promotions and bonuses in order to make the most of your betting experience.

What Are Win, Place, and Show Bets?

The win, place, and show bets are the backbone of horse racing and most bets are slight variations of these three. However, it’s important to fully understand these bets in order to understand the full range of bets available to choose from.

A horse that comes in first place ‘wins’, while a horse that comes in second ‘places’, and a horse that comes in third ‘shows’. The horses that come in the top three are considered to be the ones who are ‘in the money’, and the three bets of the same correspond to the places, but not in the way you may think.

Win: bet pays out only if the horse comes in 1st place.

Place: bet pays out if the horse is anywhere in the top two.

Show: bet pays out as long as the horse comes in 3rd place or better.

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What Are Exotic Bets?

Exotic bets comprise of bets on more than one horse. Take for example Geelong Cup betting, you could place an exotic bet on more than one horse in a race, or place bets on horses across multiple races.

Exotic bets are harder to win for obvious reasons, but the pay outs are higher as opposed to simple win, place, and show bets.

What Is an Exacta?

A bet on which two horses will come in 1st and 2nd place, and in order for the bet to be successful, you have to predict the exact finishing order.

What Is a Trifecta?

A bet on which three horses will finish ‘in the money’, or in 1st, 2nd, or 3rd place, also similar to the exacta in that you must correctly predict the three horses and their exact finishing position.

What Is a Quinella?

A quinella is similar to an exacta in that you must correctly predict which two horses will finish in 1st and 2nd place, but the order does not have to be exact.

The bet will be successful as long as the two selected horses come in either 1st or 2nd place in any order.

There are many other betting types, but it’s important for beginners to master the basics before moving on to more challenging (and risky) horse racing bets.