Types of Horse Racing Bets

Cheltenham, 2017, Cheltenham Festival
Being know as ‘the sport of kings’, horse racing understandably bears a lot more weight than you might presume. When speaking of betting, there are many types and combinations which could get you quite a profit. Knowing some basic facts beforehand can save you a lot of trouble.

But first, you need to distinguish between a straight bet and an exotic one.
Straight bets let you place your wager on one horse per bet, and they can vary across several types:
  • Win – Placing this bet on your chosen horse means he needs to win 1st place in order for you to collect.
  • Place – This bet means that your horse is supposed to finish first or second. The profits may be lower with this type, but the chances are higher by 50%.
  • Show – An even safer bet which lets you choose the horse you think will finish 1st, 2nd or 3rd place, and with an even smaller payout.
  • Across the board – For this bet, there’s still one horse involved, but with multiple scenarios. Namely, this bet combines the previous three, win-place-show, and thus requires higher wages. If the selected horse wins 1st place, you get three out of three scenarios, and so on.
  • Win/Place & Place/Show – This is just a modification of the previous, but only includes two of the three possible scenarios. Betting on a win/place means your horse is supposed to finish first to get both or second for the place money. The same analogy is used for the place/show bet. As a combination, this bet may cost more, but you can also choose to use Gold cup free bets, bonuses and promotions available at the top horse race betting sites.
As for exotic wagers, it’s important to know that they consist of betting on multiple horses in a single bet. This can turn profitable or expensive, depending on your level of expertise, which is why Cheltenham tips or various personalised advisors are recommended to help you.
  • Exacta – This means that you’ve bet on two horses which are supposed to finish 1st and 2nd in the same order as you predicted. As quite a risky bet, exacta is known to pay off in the end. On the safe side, you can always ‘box’ your bet, meaning your two horses can reach top two positions in any order, but you’d still win your bet.
  • Quinella – A less edgy bet than exacta, quinella also involves two horses which need to finish 1st and 2nd, but in any order. This bet costs less than an exacta, and is even half the price of ‘boxing’ it, but isn’t as lucrative as it.
  • Trifecta – If you decide to go with this bet, you’re supposed to place your wager on three horses finishing in the top three positions, plus, in the exact order you’ve predicted. It’s pricey, as expected, but the trifecta brings the largest payoff, even if you spend something extra to ‘box’ it.