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Wagering on Horse Racing: Popular Types of Bets

Wagering on Horse Racing | Learn About Types of BetsThere are many different ways of wagering on horse racing and each of these methods will have different payoffs depending on a variety of factors. Some types of bets, like win wagers for example, are straight forward and require selecting only one horse to finish in a particular place. On the other hand, some exotic types of wagering on horse racing can involve selecting a number of horses to finish in a given order. These bets are often riskier than straightforward and traditional bets, but can have higher payoffs.

Our Recommended Styles for Wagering on Horse Racing

At Horse Race Handicappers, we only wager on specific races with very specific guidelines, and we recommend that our clients follow the same guidelines when wagering on horse racing. For example, we often place win wagers on two different horses for a given race. This is known as “dutching” and it is Mr. Whitley’s preferred method of wagering.

Additionally, when wagering on horse racing with exacta bets, we recommend that the client keys the top two choices and that the bet uses no more than three horses in the place position. For trifecta tickets, we recommend wagering with no more than four horses in the show position. We believe that tickets any deeper than this are often an admission of not having a valid selection on the likely second or third place horses. Therefore, a wager should not even be made.

You can learn more about the many different possible types of wagers below. If you would like to find out the specific wagers that we are placing today for horse races, please purchase one of our horse racing picks packages online. If you have questions about wagering on horse racing using our daily selections, please contact us.

Wagering on Horse Racing with Straight or Traditional Bets

These bets are the simplest types of wagering on horse racing. They include:

  • Win: Win wagers are the simplest and most straightforward types of bets available. Placing a win wager on a horse race means that you are selecting which horse will finish first in a given race. See our top horse racing selections for placing win wagers on in several of today’s races from across the country with our Daily Selections Package.
  • Place: A place bet is a way of wagering on horse racing where you select a horse that will finish second in a race. You will win a set amount for a place wager if the horse finishes a race in first or second place. This payoff is slightly smaller than what is given for a win wager.
  • Show: The show bet is similar to a place bet. However, this type of wagering on horse racing will pay if the horse finishes in first, second, or third place. Regardless of which place the horse finishes in, this bet only pays the “show” amount.

Wagering on Horse Racing with Exotic Bets

Types of Horse Racing Bets & WagersExotic bets can be more complicated than traditional types of wagering on horse racing because they involve placing bets on several horses for finishing in multiple places. However, these bets typically have higher payoffs than traditional style wagers, especially for horses with high odds. Therefore, this type of wagering on horse racing is commonly used by many horseplayers. Popular styles of exotic bets include:

These bets can be placed as straight wagers where you select a specific horse to finish for each place. They can also become more complex when use using different betting techniques such as box, key, or wheel strategies.

  • Box Wagering: A box wager is where you bet on every possible combination of a set of horses. These bets are less risky, but the cost can add up quickly for sets that include a number of horses.
  • Keying: If you key a horse in a bet, it means that you are wagering that a specific horse will finish in a specific place. For example, you may place trifecta bet where you key one horse to finish first, and then you select another set of three horses any of which can finish in any remaining place.
  • Wheel Wagering: A wheel refers to taking the entire field for a leg of a wager. For example, in a trifecta bet, you may want to bet that a particular horse will win, another will place, and then you leave the show position open to any horse. At Horse Race Handicappers, we do not recommend placing these types of wagers, because they can be costly to place and you are admitting to not having any idea as to which horse will finish in a certain position.

See our Horse Racing Wagers

If you would like to see the specific wagers that we will be making today in order to use these as a guide for wagering on horse racing, please purchase one of our horse racing picks packages today.

What Makes Us Horse Racing Experts?

  1. We use information that people at the track don't have
  2. Utilize the combined efforts of our expert staff
  3. We collect and analyze rare information not often published from past performances
  4. We provide our clients with a daily comprehensive list of the horses and acceptable odds we will be wagering
  5. We continually monitor all mid-level and large tracks currently running and only wager on horses when we have positive, non-publicized information on a horse