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Horse Betting Quick Guide
The Traditional Wagers
Bet type |
Difficulty |
Average Payoff |
Description |
Show |
Easiest |
$2.10 - 4.00 |
Finish 1st, 2nd or 3rd and you win. |
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The most conservative wager and best chance to cash a ticket. |
Place |
Easy |
$3.00 - $8.00 |
Finish 1st or 2nd and you win. |
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Pays a little more than show. A hedge bet on your win money. |
Win |
Varies |
$4.00 - $40.00+ |
You must finish 1st to collect. |
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Most traditional wager and still the best. |
Daily Double |
tough |
$20 - $200+ |
Select the winners of two races in a row. |
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Your grandfather's bet. The first and oldest exotic wager. |
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Usually the first two and last two races. |
Exotic Wagers
Single-race
Bet type |
Difficulty |
Winning Payoff |
Description |
Exacta |
tough |
$15 - $150+ |
Your horses must finish 1st and 2nd in order. |
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The best chance to win a reasonable amount without betting a lot. |
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The most popular bet in racing. Boxing the Exacta will help your odds of winning. |
Trifecta |
tougher |
$50 - $1,000+ |
Your horses must finish 1st, 2nd and 3rd in order. |
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A very difficult bet but a chance at a home run. |
Superfecta |
toughest |
$100 - $10,000+ |
Your horses must finish 1st, 2nd, 3rd and 4th in order. |
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The grand slam. Extremely difficult, but it can pay great. |
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For risk-takers. |
Multi-Race
Bet type |
Difficulty |
Winning Payoff |
Description |
Pick Three |
tougher |
$50 - $1,000+ |
Select the winners of three races in a row. |
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A purists' bet. Essentially three win bets parlayed in a row. |
Pick Four |
toughest |
$200 - $2,500+ |
Select the winners of four races in a row. |
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Rapidly gaining in popularity. A good chance to win a lot with a little. |
Pick Six |
Like lotto |
$1,000 - $1-million |
Select the winners of six races in a row. |
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The most difficult wager in racing. |
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Frequently, no one wins the Pick Six and the money is carried over to the next day. |
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