Types of Bets

Bet Types (Betting terms and types of bets)

TWIN-TRI

The twin trifecta bet is combination of two trifectas on two consecutive races. The winning combinations in the first leg are carried over as bets into the second leg. A small percentage payout is done on the winning combination of the first leg. To win this bet you must spot both trifectas in succession. It is a very costly bet to box or wheel as the amount you intend to spend in the second leg must be multiplied by the no. of combinations in the first leg. If nobody spots both legs, the pool is carried over to the next twin-tri play.

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Boxing

Boxing is the term used when combining a bet in any order (all possible combinations).

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Double

This bet requires you to identify both winners of two separate races (usually in succession). Wheel bets are common when playing the double. Doubles are sometimes sold in overlapping races. eg. race 1 with race2, race 2 with race3, race3 with race4 and so on.
Double odds are usually displayed on the rotating bet display monitors positioned at various points around the track.

Double Combinations

Wheel 1 with 3 others 3 bets
Wheel 1 with 5 others 5 bets
Wheel 2 with 3 others 6 bets
Wheel 2 with 4 others 8 bets
Wheel 2 with 5 others 10 bets

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EXACTA / PERFECTA

This bet involves two horses in the same race. The bet pays if the nos. purchased finishes first and second in the exact order specified. Combinations of nos. are allowed which are more popularly known as box or wheel. If you think that either of three horses can finish first or second in the race, then you should box all three nos. for the exacta. This means that if the winner and the second horse are in your selections, you win. Wheeling is less costly, but is a more exacting type of bet. Use the wheel bet only if you can confidently reduce the winner to one or two horses. To wheel, you must specify the nos. to win followed by the nos. for second.
Exacta odds are usually displayed on the rotating bet display monitors positioned at various points around the track.

2-horse box 2 bets
3-horse box 6 bets
4-horse box 12 bets
5-horse box 20 bets
Wheel 1 with 3 others 3 bets
Wheel 1 with 5 others 5 bets
Wheel 2 with 3 inclusive 4 bets
Wheel 2 with 4 inclusive 6 bets

*Inclusive means the nos. used are repeated.

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General

All bets are placed based on the nos. assigned to a horse by the track. These nos. are printed beside the name of the horse on the race program. Some tracks use the post position as the horse no. Irrespective of the method used by the track, you should always used the program assigned no. when purchasing bets.
“Scratches” are horses who have been withdrawn from the race. No bets are sold on these horses. Bets are refundable on late scratches unless the bet specifically states otherwise (eg. offtime favorite substituted).
Simulcasting is the acceptance of betting on a race that is being conducted at a different track.

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HI-5

The HI-5 requires the bettor to spot first, second, third, fourth and fifth in the exact order of finish. Avoid this bet unless you are feeling lucky or you have spotted the winner at a good price. You should always box or wheel this bet. The payout on this bet is always going to be higher than the trifecta, exacta or quinela because of the level of difflculty involved. This bet is extremely difficult to catch and requires a hefty layout of cash to bet it properly.
These odds are not usually displayed, mainly because of the no. of combinations involved.

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Keying


Keying is the term used when a wheel bet uses one horse along with several others. eg. If you are purchasing trifecta wheel bet with one horse to win and three others to run second and third, then you key that horse with the three others.

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Odds

The odds are usually of the form x/y (eg. 5/1, 9/5). Dividing x by y gives a ratio to 1. The smallest ratio or the largest amount of money on a no. represents the favorite.
Winning odds of 2/1 will pay $6.00 for a $2 bet, while 5/1 will pay $12.00 for a $2 bet.
Payout is calculated by (odds ratio to 1) x bet amount + bet amount.
eg. For odds of 5/1, the approximate payout for a $2 bet is 5 x $2 = $10 + $2 = $12.
Some tracks allow different minimum amounts on each bet type. Throughout the USA, $1 bets tends to be the minimum on most bets, while in Jamaica $4 is the minimum on all bets.
The odds are computed based on the sales on the bet less a government and handling tax. These deductions vary and are usually controlled by a regulatory body. Deductions may vary at the same track if there are simulcast races.
In addition some tracks tax payouts in excess of a specified limit. Throughout the USA this limit is 600/1.

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PICK3/PICK6/PICK9

This bet requires you to spot the winners of the races specified for the bet. ie. 3 consective races for pick-3 or 6 consecutive races for pick-6 etc. If you pick a non-runner, you are substituted with the off time favorite in the win pool. If nobody is able to pick all the winners for the pick-? bet, the intended payout pool is carried over to the next time that bet is offered.

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Place

This bet pays if the no. purchased finishes first or second. In some countries where SHOW betting is non-existent, this bet pays for first, second and third positions. Some tracks display place odds on the toteboard, while others display these odds on the rotating bet display monitors positioned at various points at the track.

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Quinela

 

This bet involves two horses in the same race. The bet pays if the nos. purchased finishes first and second in any order. Combination of nos. are allowed which are more popularly known as box or wheel. If you think that either of three horses can finish first or second in the race, then you should box all three nos. for the quinela. This means that if the winner and the second horse are in your selections, you win. Quinela odds are usually displayed on the rotating bet display monitors positioned at various points around the track.

Quinela Combinations

3-horse box 3 bets
4-horse box 6 bets
5-horse box 10 bets
Wheel 1 with 3 others 3 bets
Wheel 1 with 5 others 5 bets
Wheel 2 with 4 inclusive 5 bets
Wheel 2 with 5 inclusive 7 bets

*Inclusive means the nos. used are repeated.

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Show

This bet pays if the no. purchased finishes first, second or third. In some countries where SHOW betting is non-existent, this bet is replaced by the Place bet. Some tracks display show odds on the toteboard, while others display these odds on the rotating bet display monitors positioned at various points at the track.

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SUPERFECTA

The superfecta requires the bettor to spot first, second, third and fourth in the exact order of finish. Avoid this bet unless you are feeling lucky or you have spotted the winner at a good price. You should always box or wheel this bet. The payout on this bet is always going to be higher than the trifecta, exacta or quinela because of the level of diffilculty involved. This bet usually have punters consoling themselves about how easy it was if only….
These odds are not usually displayed, mainly because of the no. of combinations.

Superfecta Combinations

4-horse box 24 bets
5-horse box 120 bets
Wheel 1x3x3x3 others incl. 6 bets
Wheel 1x4x4x4 others incl. 24 bets
Wheel 1x5x5x5 others incl. 60 bets
Wheel 2x4x4x4 inclusive 12 bets
Wheel 2x5x5x5 inclusive 48 bets
Wheel 2x6x6x6 inclusive 120 bets

*Inclusive means the nos. used are repeated.

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TRIFECTA

This bet requires you to identify both winners of two separate races (usually in succession). Wheel bets are common when playing the double. Doubles are sometimes sold in overlapping races. eg. race 1 with race2, race 2 with race3, race3 with race4 and so on.
Double odds are usually displayed on the rotating bet display monitors positioned at various points around the track.

 Double Combinations

Wheel 1 with 3 others 3 bets
Wheel 1 with 5 others 5 bets
Wheel 2 with 3 others 6 bets
Wheel 2 with 4 others 8 bets
Wheel 2 with 5 others 10 bets


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Wheeling

Wheeling is the term used when combining a bet in specific order. eg. You must specify combinations for first, second , third etc. separately.

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Win

This bet pays when the number purchased is the winner of the race. Multiple win bets (eg. betting several nos. to win) are allowed in each race. Win odds are displayed on the toteboard for each horse in the race.

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