Types Of Horse Bets
Single
A Single is a bet on 1 selection in one event. Your selection must be successful to get a return.
Racetracks offer multiple betting options that give horseplayers plenty of options on how to bet the races. The types of bets available on racing can be broken down into two categories – straight wagers and exotic wagers. Straight wagers are win, place and show and at most racetracks the minimum bet is $1.
Each Way
- As with the other types of bets, the play of choosing multiple horses is still available. You’re allowed to select more than one horse in each (or every) leg of your bet. An “each way” is considered two separate bets, although they’re placed together. The first bet is on the horse to win. If your horse wins, you win the bet.
- When it comes to betting on horse races, before you even place a bet on a horse you need to decide what type of bet to place. As the bets you can make range from a simple bet on a single horse in one race to choosing the winning horses for six consecutive races, you.
You bet on a horse to Win or be Placed. However the term “Placed” can vary depending on the type of race and the number of runners: The place portion of this bet pays out at 1/4 of the win odds. A £1 unit stake Each Way bet would cost £2 (£1 to win + £1 to place). For example, if the horse wins at odds of 8/1 the £1 win portion of the stake is multiplied by 8 and returned with the original £1 win betting stake paying out £9, just like a normal ‘Single’. And the £1 place portion of the betting stake is multiplied by 1/4 of the odds, so 8/1 becomes 2/1, with the original £1 place betting stake paying out £3 – thus total winnings of £12. But If your horse finishes in second, third or fourth the £1 win portion of the stake is lost and ONLY the £1 place part of the betting stake is multiplied by 1/4 of the odds, resulting in total winnings of £3.
Number of Placed Positions
- 2 to 4 runners = each way betting does not apply
- 5 to 7 runners = first two places pay out
- 8 or more runners = first three places pay out
- 16 or more in a handicap = first four places pay out
Accumulators
Best Types Of Horse Bets
Also called a ‘Roll-Up’ or ‘Acca’. One bet requiring any number of selections but all the selections must win to have a return. The winnings are calculated by placing all the money on the first selection, then the winnings from that bet is placed on the next bet, etc.
Doubles, Trebles, Four-Fold Accumulators, etc
A Double is an accumulator of 2 selections, and a Treble is of 3 selections. After that, they are just known as a ‘Four-Fold Accumulator’, ‘Five-Fold Accumulator’, etc…
Trixie
A Trixie consists of 4 bets involving 3 selections in different events. The bet includes 3 doubles and 1 treble. A minimum of 2 of your selections must be successful to get a return. For example, if your 3 selections were A, B and C, then your 4 bets would be AB, AC, BC, and ABC.
Patent
A Patent consists of 7 bets involving 3 selections in different events. The bet includes a single on each selection, plus 3 doubles and 1 treble. Just one successful selection guarantees a return. For example, if your 3 selections were A, B, and C, then your 7 bets would be A, B, C, AB, AC, BC, and ABC.
Yankee
A Yankee consists of 11 bets involving 4 selections in different events. The bet includes 6 doubles, 4 trebles, and an accumulator. A minimum of 2 of your selections must be successful to get a return. For example, if your 4 selections were A, B, C, and D, then your 11 bets would be AB, AC, AC, BC, BD, CD, ABC, ABD, BCD, ACD and a Four-Fold accumulator ABCD.
Lucky 15
A Lucky 15 consists of 15 bets involving 4 selections in different events. The bet includes 4 singles, 6 doubles, 4 trebles, and 1 four-fold. If only one selection wins, as a consolation returns are paid to treble the odds. If all four selections win, a bonus of 20% is added to total returns. For the bonus to apply, all selections must win (does not apply to void or non-runners). If only one of the selections wins, you receive treble the odds. For each-way bets the consolation is paid only on the win part of the bet. Lucky 15 bets are accepted on horse racing, greyhounds only and correct scores.
Canadian
A Canadian (also known as a Super Yankee) consists of 26 bets involving 5 selections in different events. The bet includes 10 doubles, 10 trebles, 5 four-folds plus an accumulator. A minimum of 2 of your selections must be successful to get a return.
Lucky 31
A Lucky 31 consists of 31 bets involving 5 selections in different events. The bets include 5 singles, 10 doubles, 10 trebles, 5 four-folds and a five-fold accumulator. If only one selection wins, returns are paid to four times the odds. If four of the selections win, a bonus of 15% is added to total returns. If all five selections win, a bonus of 25% is added to total returns. For the bonus to apply, all selections must win (does not apply to void or non-runners). For each-way bets the consolation is paid only on the win part of the bet. Lucky 31 bets are accepted on horse racing, greyhounds only and correct scores.
Heinz
A Heinz consists of 57 bets involving 6 selections in different events. The bet includes 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and a six-fold accumulator. A minimum of 2 of your selections must be successful to get a return.
Lucky 63
A Lucky 63 consists of 63 bets involving 6 selections in different events. The bet includes 6 singles, 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and a six-fold accumulator. If only one selection wins, returns are paid to five times the odds. If five of the selections win, a bonus of 20% is added to total returns. If all six selections win, a bonus of 33% is added to total returns. For the bonus to apply, all selections must win (none void or non-runners). For each-way bets the consolation is paid only on the win part of the bet. Lucky 63 bets are accepted on horse racing, greyhounds and correct scores.
Super Heinz
A Super Heinz consists of 120 bets involving 7 selections in different events. The bet includes 21 doubles, 35 trebles, 35 four-folds, 21 five-folds, 7 six-folds and a seven-fold accumulator. A minimum of 2 of your selections must be successful to get a return.
Goliath
A Goliath consists of 247 bets involving 8 selections in different events. The bet includes 28 doubles, 56 trebles, 70 four-folds, 56 five-folds, 28 six-folds, 8 seven-folds and an eight-fold accumulator. A minimum of 2 of your selections must be successful to get a return.
Straight Forecast
A Straight Forecast involves 2 selections in 1 race finishing 1st and 2nd in the order named.
Reversed Forecast
A Reversed Forecast involves 2 selections in 1 race finishing 1st and 2nd in either order. As such it is two straight forecasts, AB and BA.
Combination Forecasts
Combination Forecasts involve 3 or more selections in a race, with any 2 to finish 1st and 2nd in any order.
Straight Tricasts
Straight Tricasts involve 3 selections in a race finishing 1st, 2nd and 3rd in the order named.
Combination Tricasts
Combination Tricasts involve 3 or more selections in a race finishing 1st, 2nd and 3rd in any order.
Types Of Horse Racing Bets
Betting doesn’t have to be rocket science. Keep it simple by choosing a horse with a cool name. Or one that’s wearing your favorite color. But if you’re the analytical type who wants to consider a horse’s racing history, learn how to read a Racing Form and try your hand at handicapping.
Placing Your Bet
The easiest way to place your bet or wager is at the counter. Let the teller know the following information:
- The racetrack (remember, you can bet on races at other tracks)
- The race number
- The dollar amount you want to bet
- The type of bet
- Your horse’s number
Ex. “At Santa Anita, third race, five dollars to win on number two.”
Types of Bets
There are many kinds of bets. But let’s start with the basic ones:
Win, Place and Show.
Win — If your horse finishes 1st, you win $$$.
Best Way To Bet Horses
Place — If your horse finishes 1st or 2nd, you win $$.
Show — If your horse finishes 1st, 2nd or 3rd, you win $.
Exotic Bets or Combination Wagers
Across the board — Three equal Win, Place and Show bets.
- If your horse finishes 1st, you win all three bets.
- If your horse finishes 2nd, you win on the Place and Show bets.
- If your horse finishes 3rd, you win on the Show bet.
Exacta — Pick two horses in one race. If they finish 1st and 2nd, in exact order, you win.
Quinella — Pick two horses. If they finish 1st or 2nd, in either order, you win. Also known as an Exacta Box.
Trifecta — Pick three horses. If they finish 1st, 2nd and 3rd, in exact order, you win.
Superfecta — Pick four horses. If they finish 1st, 2nd, 3rd and 4th, in exact order, you win.
Daily Double — Two specific races make up the Daily Double. Pick one horse in each race. If they finish 1st in both races, you win. You have to make your bet before the first race.
Pick 3 — Similar to the Daily Double, but for three consecutive races.
Pick 4 — Similar to the Daily Double, but for four consecutive races.
Pick 6 — The biggest bet you can make. Pick the winning horse in six consecutive races. If you win, you win big.
If no one picks all six winners, those picking 5 out of 6 will split 30% of the Pick Six pool. The remaining 70% “carries over” to the next racing day, and will continue to do so each day until someone correctly chooses 6 winners out of 6 races.
Watch and Win
After placing your bet, watch your horse run. If your horse comes in the money, sweet! But don’t plan on buying a private jet just yet. Wait until the race has been declared “official”. Then collect your winnings at any window.
Automated Betting Machines
Once you’re familiar with placing bets, you can try using one of the self-service, automated machines. These easy-to-use machines are available at every track and offer simple directions on how to bet or collect money from a winning ticket. Easy peasy.