Why does betting on horse racing have to be so complicated? Well, to someone who is new to the sport, betting on a race can be intimidating. Learning all the betting lingo and every type of bet takes time.
Luckily for you, learning to make a few of these bets doesn’t take long. These wagers are easy to understand and simple to make.
If you want to learn more about betting at the race track you will want to check these 10 Horse Racing Handicapping Tips we wrote about in an earlier post.
Don’t worry, we have the 5 smartest bets in horse racing for beginners you can make on any horse race that are easy and fun.
1) The Win Bet
This is the simplest wager and easiest to understand in horse racing. This also maybe the smartest bet in horse racing for beginners. Sometimes experienced horse players make things too complicated for themselves. Keep things simple. If the horse you pick wins, you cash the ticket.
This bet is easy to make, all you do is go to the teller and tell them the track you want to play, what race, and then say how much you want to wager and on what number.
To see how much you have won check out the tote board for the payouts. Or give the winning ticket to the cashier and collect your dough.
For example, Churchill Downs, race 2, $20 to win on the 5.
This will get you a win bet. All your horse needs to do is win and you are cashing a ticket.
2) An Exacta Box
If the win bet is the smartest bet in horse racing for beginners than the exacta box maybe the second best. This is a real easy bet to make. And in this game not boxing an exacta can drive you crazy.
Imagine picking two horses to run first and second and the one you pick for first losses to your other pick? That’s why it’s always a good idea to box your exactas.
This wager can be placed in almost every race that is run. The only exception may be in a two horse race.
What is an exacta box? Well this type of bet you are looking to find the two horses that will finish the race in first and second. When you use the word “box” this means when you pick two or more horses to come in first and second in any order.
If you use more horses in your exacta box the bet becomes more costly. Obviously, you don’t want to spend more money on a ticket than you think the payout will be. So be careful when adding excessive horses in this wager.
The exacta box is a great wager for newbies to horse racing. It’s easy to make and easy to understand. Compare this to a regular exacta bet where you have to be correct in both spots with your picks.
When you bet an exacta straight 1-2 and the 2 horse finishes first followed by 1 horse in second, you lose.
These numbers can come out in any combination. Let’s say for example you pick the numbers 1,2,3.
1-2
1-3
2-1
2-3
3-1
3-2
Any of the above combinations will win the bet. You can see that there are six different combinations of numbers above. Each one of those combinations the minimum cost is one dollar. So a three horse exacta box would cost $6.
If you want to bet a three horse exacta box for more money say for $2 in stead of $1, it would cost a grand total of $12.
You also can just pick two horses in an exacta box. If you box the 1 & 2 horses in the race and the race ends up either 1 in first and 2 in second or 2 in first and 1 in second you win.
All you have to say is, the track, the race number, how much the exacta is for and the numbers you want.
For example, Churchill Downs, race 2, $3 exacta box 1 & 5. This would cost $6. $3 for 1-5 & $3 for 5-1. You would receive those two bets combined on one ticket. If either of those numbers came out first and second you win!
A bet very similar to the exacta box is called a quinella. These bets are also available at certain racetracks. This is a different betting pool and these payouts will be different than the exacta pool payouts.
3) The Daily Double
The daily double bet is another easy bet to make. This will keep your interest not only in one race but for at least two races in a row. This wager you need to pick the winner of two races in a row to get paid off. Yes, this is harder than picking just one winner but the odds do work in your favor. You will receive generally a larger payout when you play the daily double than if you just played win on the two winners individually.
This bet allows you to use multiple horses in this bet too. Maybe you think a long shot can win a race and you want to play a daily double. Maybe you look ahead in the program and the next race looks tough. So you can play a daily double with the all button. So you pick your long shot and it wins.
By having the all button in the next (having every horse in the race on your ticket) you guarantee your self a winning ticket. The longer the shot in the next will increase your potential payout.
The daily double is a one of the best bets in racing. If you want to bet a daily double all you need to tell the teller is the track, the race, how much you want to wager and the horses number.
For example, Gulfstream Park, race 10, $26 daily double 9 with the 4.
In this example the 9 horse in race 10 would need to win along the 4 horse in race 11.
The Trifecta Box
This bet is very similar to the exacta box. The main difference is that you need to be correct in predicting the the first three horses to finish in a row not just the first two in the correct order. Thus, making this wager more difficult. With the more difficult task it tends to reward you with a more lucrative payout.
There are multiple ways of playing a trifecta, including keying horses in all three spots. But for a newer player boxing your horses is probably the way to go.
Remember, these bets can cost more to place because when adding more horses on a ticket and with more combinations available. You have to fill up three spots not just two like with an exacta. Some racetracks offer a .50 base wager, that reduces the cost of the ticket, but reduces the potential payouts as well.
Here is what you say if you want to bet a trifecta box. The tracks name, the race number, how much you want the trifecta for, and the three or more horses you want to box.
For example, Churchill Downs, race 2, $1 trifecta box 1,2,3.
The Show Bet
The show bet is not my favorite bet. But this type of wager has its place in horse racing. This can be a cool wager to play as a beginner. This also has a place for the veteran handicapper.
Why this is a beginner friendly bet. First off, new horse players don’t have a lot of betting experience and this wager offers a easier chance to cash a ticket. If you place a show bet on a horse, all you need the horse to do is come in 3rd place. Now if your horse finishes 1st or 2nd you will also collect on this wager.
This type of bet does not pay as well as a win bet because it is a more conservative wager. Likewise though there is not as much of a risk, because all the horse needs to do is hit the board (place 1st, 2nd, or 3rd).
Some races don’t offer show wagering because the field size isn’t large enough. Each racetrack will have their own limit on how many runners they will want to start a race before eliminating the show wager. For example, if a race was carded to have 7 horses in it and 3 horses scratch, the track will most likely cancel show wagering, and refund the bets placed in the show pool.
Betting a favorite to show on its surface doesn’t seem like a worthwhile investment. Horse racing is extremely volatile and unpredictable at its core. So wagering on a runner to show can still be difficult and monetarily unrewarding.
An even money favorite (1/1) might pay $2.20 to show for every $2.00 you spend on betting it. This proposition that all the horse needs to do is run 3rd is a tempting idea to some people. If you risk $20 on this bet the reward would be cashing a $22.00 winning ticket. A whopping $2.00 profit. Many bettors look at risking $20.00 to win $2.00 is a bad idea.
Bridge Jumping
Some of these types of bettors look for these opportunities. They wager large amounts of money on these show bets. They are called “bridge jumpers”. The idea is to bet large show bets on good horses. For example, if the show payout is $2.40, a bridge jumper may bet $20,000 to show to collect $24,000 on that race. The show payout is not known at the time the bet is placed. It depends on the size of the pool and calculated on how many winning tickets were purchased.
What happens when a bridge jumper loses their bet? Well that money get divided up on the three horses that finished 1st, 2nd and 3rd. These payouts can be inflated and a healthy show price will be paid out.
Betting to show in races that have big favorites can be tricky but rewarding if the right favorite doesn’t hit the board.
Here’s how you bet a horse to show. The race tracks name, the race number, how much you want to bet, to show on the horse number you want.
For example, Churchill Downs, race 2 $20 to show on the 5 horse.
Smartest Bets in Horse Racing For Beginners Wrap up
If you are new to horse racing or if you just like to play the big races like the Kentucky Derby and Breeders Cup weekend. These types of wagers may add some fun to your day at the races. Horse racing is a lot of fun when you learn how to read a racing form and how to place wagers.
The 5 smartest bets in horse racing for beginners will help you make these wagers at the window faster. Hopefully they will also help you feel more confident at the races and help you have more profitable days at the race track.
As always best of luck at the races!
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