There are many different types of bets offered at tracks. Betting at your home track or looking online triple crown betting, knowledge of the types of bets offered is the first step toward making informed decisions. Below, we describe the most common betting options available.
Straight Wagers
Win:
The most simple type of horse race bet. A Win bet is a wager on a horse to win. If the horse wins, you receive your money. The figure displayed for each horse on the tote board are the Win odds. For example, if a horse shows "5" on the tote board and you bet $2 on it to Win, you will be paid back $12 ($5 × $2 plus your original $2 bet). This $12 profit will show up in the Win column (1st column) when the race is made official.
Place:
WIN or PLACE are bets on a horse to place first or second. Your horse must finish in either of the first two spots, whereupon you collect the sum in the Place column (2nd column). No matter whether your horse finishes first or second, the payout is the same. This bet is less risky than a Win bet, but with a smaller payout. If you are sure your horse will win, a Win bet will pay out more.
Show:
A second type of straight bet, a Show bet is where you bet a horse to finish first three. For every $2 you wager on a horse which comes in 1st, 2nd, or 3rd, you will receive the amount shown in the Show column (3rd column). The same payout is made as for all other straight bets if the horse wins first, second, or third. This is the safest straight bet but the worst return. If you believe your horse will finish higher than third, place a Win or Place bet.
Combination Straight Bets
Across the Board (Win/Place/Show):
This is a bet that has Win, Place, and Show bets combined. Betting "Across the Board" is actually three separate bets. If it places, you're paid out for all three. If it places, you're paid Place and Show. If it shows, you're paid the Show. Since it's three bets, a $2 "Across the Board" bet will cost $6.
Win/Place and Place/Show
These are just combinations of two bets. A $2 Win/Place or Place/Show is $4 in value.
Exotic Bets: Single Race
Exacta (Perfecta, Exactor):
One of the simplest exotic single-race wagers. You need to properly pick the horses that cross the starting line first and second, in exact order. It pays more than a Win or Place bet on either horse. A $2 Quinella wager will pay the amount listed in the Quinella payoff results after a race has been made official.
Similar to the Exacta, but you don't pick the horses in the same order. You only need to choose the horses that finish first and second, in any permutation. Since it's easier to win than an Exacta, it's less money—usually half the Exacta payday.
Trifecta (Triactor):
This bet is a step higher. You must pick the first three home in exact position. Much harder to predict than an Exacta, but pays a lot more as well. A $2 Superfecta bet pays the amount shown in the Superfecta payouts once the race is over.
Toughest single-race exotic bet. You have to predict the first four finishers in exact sequence. Since it is so difficult, players box up multiple combinations in hopes of boosting their odds. Payoffs are generally rather substantial and often printed on a $1 bet.
Exotic Bets: Multiple Races
Daily Double (Double):
This is the simplest multi-race exotic bet. You must select the winner of two consecutive races. Most tracks offer an Early Double (races 1 & 2) and a Late Double (last two on the card), though some offer Doubles in the middle. If a Double is offered, it will be printed in the program. A $2 Double return is printed in the second horse of the pair's outcome.
Pick 3 / Pick 4 / Pick 6 (Classix):
These bets resemble the Daily Double but are on 3, 4, or 6 consecutive races. The more numbers on a bet, the harder it is to win, but the greater the payout. All tracks carry at least one or two Pick 3 or Pick 4 bets on the card. Some races also include a Pick 6. If they exist, these will be shown at the start of the sequence. Payments are shown after the last leg of the sequence.
With Pick 3 and Pick 4, if no one has all winners correct, partial payouts are usually paid to those missing only one leg (e.g., 3 of 4 correct). This will be listed as "Pick 4 (3 out of 4 Correct)" in the returns. In Pick 6 bets, consolation is typically paid on 5 out of 6 correct. When nobody has 6 correct, much of the Pick 6 pool rolls over to the next racing day, and the size of the pool is increased.
Place Pick All
Like a Pick-x bet, but you're picking a horse to Place (1st or 2nd) in every race on the card (usually 8 or 9 races). Unlike getting a winner in every race, your selected horse only needs to place in the top two.