Horse Race Betting

WIN
A "WIN" bet is just what it sounds like: betting that the horse you pick will win the race. You win if the horse wins.

PLACE
For a horse to "PLACE" it must finish the race either first or second. This bet generally pays less than the win bet but it gives you two chances to win instead of just one.

SHOW
For a horse to "SHOW" it must finish the race either first, second or third. This bet generally pays less than either the win or place bet, but it gives you three chances to get a return for your investment.

ACROSS THE BOARD
This is a quick way to say that I want to bet a horse to finish in any of the first three positions etc. ($2 Across The Board = $2 to win, $2 to place, and $2 to show). If the horse wins you collect all three bets. If the horse finishes 2nd then you collect the place and show bets. If the horse finishes 3rd then you will only collect the show bet.

Quinella
In the Quinella, you must pick the horses that finish first and second. Either one can be first and the other one second. This bet functions exactly the same as the "Exacta Box". Although the Quinella has the same function as the "Exacta Box" the payoff can vary substantially. You must remember that there is no such wager of an exacta box, it is really two separate bets on one ticket. The Quinella wagers are entered into their own pool separate from the exacta pool. Not all tracks offer the Quinella wager, but to the best of my knowledge all tracks accept the term exacta box where ever the exacta wager is offered. If both the Quinella and Exacta wagers are offered it is wise to check the tote board before making a Quinella or Exact Box wager to see which one offers the greater payoff.

Trifecta
With this bet you must pick the first three finishing horses in the order of their finish. In other words, you must pick the horse that wins, the horse that finishes second and the horse that finishes third.

The simplest form of this wager is the Straight Trifecta, which is a single combination of the first three finishers. The minimum bet for a Straight Trifecta is $2. To purchase, simply tell the clerk: "$2 Trifecta on 1-2-3." A Trifecta is not offered in all races at all tracks (refer to the race program).

NOTE: This wager is also called the "Triple" at some tracks.

Trifecta Box
The Trifecta box has a $1 minimum bet per combination -- $6 minimum total cost. You can box three or more horses on a single ticket and wager $1 (or more) on each combination.

Daily Double
The daily double involves picking the winning horse in two consecutive races. All tracks offer the early daily double which involves races #1 and #2. Most tracks also offer a late daily double which is the last two races of the day. Some tracks also offer a rolling daily double which is on any two consecutive races. To win a daily double you must pick the winning horse in each of the two races. Combination bets can also be made on daily doubles.

Superfecta
With this bet you must pick the first four finishing horses in the order of their finish. In other words, you must pick the horse that wins, the horse that finishes second, the horse that finishes third and the horse that finishes fourth. Since it is very difficult to determine the top four finishing horses without playing a lot of combinations which can be very costly, the Superfecta is not a very popular bet among seasoned handicappers. If by chance, the top four finishers are a standout and easily determined, then the return on the wager is generally very low and can easily be smaller than the amount of money required to hit the winning combination. Nevertheless, I will give you the details if you choose to be daring.

The simplest form of this wager is the Straight Superfecta, which is a single combination of the first four finishers. The minimum bet for a Straight Superfecta is $2. To purchase, simply tell the clerk: "$2 Superfecta on 1-2-3-4." A Superfecta is not offered in all races at all tracks (refer to program).

Superfecta Box
The Superfecta Box has a $1 minimum bet per combination -- $24 minimum total cost. You can box four or more horses on a single ticket and wager $1 (or more) on each combination.

Exacta
With this bet you must pick the first two finishing horses in the order of their finish. In other words, you must pick the horse that wins and the horse that finishes second.

Exacta Box
A "box" on two or more horses in a race means taking all the possible combinations of those horses in each place of finish. If you have determined that two horses are the best in the race but you are not sure which one will win and which one will finish second, then the safest bet is to do the exacta box. You can box more than two horses, but it is very important to remember that with each additional horse you add to the box that the cost of the wager goes up substantially. The formula for calculating the cost of an exacta box is (horses in box x (horses in box minus 1) x dollar amount of bet). A $2 box of two horses would be (2 x 1 x 2) = $4. A $2 box of three horses would be (3 x 2 x 2) = $12. A $2 box of four horses would be (4 x 3 x 2) = $24. As you can see the cost of the exacta box increases greatly with each additional horse. Also remember that you can wager a $1 exacta box. This reduces the amount of your wager by 50% but also reduces your earnings by 50%.