horse race betting terminology

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For every bookmaker has a rule for what happens to a wager if it is placed on an event that ends up being abandoned for some reason. As with pretty much anything in countries like the UK, weather can have a massive impact on whether an event is likely to finish. Obvious examples include such things as lightning storms or flash floods, but snow flurries that make it impossible to see the markings on the pitch or the ball can also give the match officials pause for thought. Crowd safety will always be one of the first things that is taken into consideration by those who decide whether or not a match will be allowed to carry on.

Horse race betting terminology what is a unit in sports betting

Horse race betting terminology

Those are the standard bets that everybody is familiar with. They are simple, straight forward, it's easy to calculate the cost, and they are easy to make. Where things start to become more complicated is with what are known as the exotic bets. Below are the exotic wagers offered by Churchill Downs this weekend:. Wagering on horses is done via pari-mutuel wagering, a system of wagering where each player is betting against other players, not the house. The odds represent what percentage of the total pool each horse is receiving.

Below is an odds-percentage conversion chart for typical odds in horse racing. To figure you how much you'll get paid if you hit your win bet, simply divide the numerator of the odds by the denominator, multiply that number by the amount bet, and then add the amount bet. Place and Show payouts are more difficult to calculate since tracks don't display the odds on those bets. Usually, they pay less than half what the winning odds play unless the horse is a huge longshot and the favorite doesn't finish in the top three.

Figuring out the payouts on exotics are a mixed bag; tracks display the "Will Pays" for exactas and daily doubles, but you won't have a clue as to what your trifecta, superfecta, Pick 3, etc. Generally speaking, trifectas and superfectas will return larger amounts, but be careful, playing all the favorites in a trifecta is likely going to return a small amount especially when compared to how much your bet cost.

The key to hitting larger scores is to find some longer priced horses to play along with shorter priced ones. We've got all of these exotic bets where you're trying to pick the order of finish or the winners in multiple races. Many first time bettors think that to play a exacta or tri or any other exotic requires you to use just two or three or four horses in your play.

You can select as many horses as you want but the more horses you select, the more expensive your ticket becomes. The first step in determining what a specific bet will cost is to know the minimum amount required for each bet. At Churchill Downs, here are the minimum amounts required for each bet offered:. Two additional exotic betting terms that are relevant to wager cost are "BOX" and "WHEEL", and they apply specifically to exactas, trifectas and superfectas.

For example, say you like the 1, 2, and 3, you want to play them in an exacta but you don't know which one you want to pick on top to win. You could "BOX" those three horses in an exacta and you would win if any of those three finish first and second. For example, let's say you like the 1 to win, but think the 2, 3 and 4 might finish second. In that situation you would bet an exacta wheel where the bet would be set up to pay if the 1 wins and either finish second.

If any of win and the 1 finishes 2nd, you would not win with that exacta wheel. You might be thinking, "Why would anyone NOT box an exacta, trifecta, or super since our picks can finish in any order, while with a wheel there is less margin for error?

A box bet is calculated by multiplying the bet amount by the total number of horses selected, and then multiplying that by the total number of horses selected, minus one. Or, stated another way:. Make sense? For trifecta and superfecta boxes you calculate the cost the same way but keep subtracting one from the total number of horses in each leg. For example:. You can see how the costs start to escalate in a box situation since you're playing every possible combination with those numbers.

With a WHEEL bet, the cost is kept down but you need to decide which horses you like in certain positions. Let's take the above situation again. Let's say you like the 1 and 2 to win, but think any of those five could finish 2nd.

Here is how you would calculate that bet cost:. Because you are using the 1 and 2 in both the win and place slots, you calculate the wager by multiplying the number of horses in the first leg by the number of horses in the second leg, minus one. If you excluded the 1 and 2 from the second position but still used five horses, the bet would calculate as below:. Right away you can see that an exacta wheel bet costs about half as much as the box situation since you are playing fewer combinations.

There's a higher risk, but the rewards and profit margin are better since you are not wasting money on combinations that you don't believe will come in. Saying "with" is how you separate horses from the first, second, third or fourth positions to the clerk. And always check your ticket before you walk away. Calculating trifecta and superfecta wheels follows the same formula as the exacta bet above. However, if you want an easier way to calculate your wagers, you can find a variety of waging calculators on the web, including a nice one at WinningPonies.

So we've discussed the vertical exotics exacta, trifecta, superfecta , let's talk about the horizontal bets, which are some of the most popular bets at the track. A horizontal wager is any bet that involves betting on a series of races, rather that just one specific race. A Pick 4, where you try to pick the winners of four consecutive races, is a horizontal wager and can pay very nicely, depending on the odds of the horses that win during the sequence.

As with all wagers, you can select as many horses as you want but the cost of your ticket increases with every horse added into the mix. Let's say you are looking at a four race sequence where you like the following horses in each race:. To collect on a Pick 4 wager using the horses above, you would need at least one of your selections to win in each leg; pretty simple.

Using only one horse in a specific race, as is done in the 3rd race in our example, is called "singling" a horse. Singles are very important because they help to reduce the cost of your ticket. Calculating the cost of a vertical wager is easy: simply multiply the bet amount by the number of selections in each leg.

Using our above example, that Pick 4 ticket would cost the following amount. The power of the "single" should be obvious; if we had selected two, three or four horses in that 3rd race, our ticket would have doubled, tripled or quadrupled in cost. It's not required that you use a single; if you have the money to spend and you want better coverage, spend away. But most players like to try and find one race where they have a prime single so they can use more horses in the races where things appear more wide-open.

Additionally, you don't have to play each wager to the minimum amount. Of course, the higher the base amount, the more expensive your ticket becomes. If you're a little overwhelmed with the sheer amount of betting options you can take heart with the fact that you don't need to play them all. In fact, the best wagering strategy usually involves finding a solid win bet before doing anything else. If you can't figure out which horse is going to win a race, you probably shouldn't be diving into bets requiring you to also pick horses in second, third, or fourth.

But if you find a solid play for the win, then you can start to branch out into the more complicated wagers. Like in poker, you need to go "all in" when you feel you have the advantage, not because you want the action. The guides have since been updated and combined into one. Cookie banner We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from.

Taking its name after the Heinz brand, the bet consists of a whopping 57 selections. These include 15 doubles, 20 trebles, 15 four-folds, 6 five folds and 1 six-fold. Here, if 2 or more of your selections win, you are guaranteed a return. When the bookmakers are unable to determine which competitors are the most likely to win a race. The selection that are chosen become joint favourites. A race in which horses must jump over fences and ditches. There are two kinds of jump races: steeple chases and hurdles races.

The measurement used to quantify the distances between each competitor at the end of a race — approximately three metres. The nap is considered the finest bet of the day from a tipster. It comes from the French card game Napoleon, whereby the top trumping card is the Napoleon.

It usually applies to horse racing. A type of race in which the horses must jump over fences and ditches before they reach the finish line. A National Hunt Race could refer to a hurdle race or a steeple chase. When a jockey makes a complaint against another competitor for an action s that took place during a race. Odds on is another way of calling something the favourite. If something is odds on to win, that means that it is the most likely to succeed as it has the most people putting their odds on it.

A parley bet is a single bet that combines two or more individual bets and depends on them all winning together. For example, you can depend on three different teams to win a game. It is also known as an accumulator.

A patent bet is one of the least complicated of the combination bets. It consists of 3 selections of 7 bets. These are three singles, taking selections 1, 2 and 3, three doubles, taking selections 1 and 2, 2 and 3, and 1 and 3, and one treble, taking in all three selections. This means that only one winning choice is needed to win. Examples of permutation bets are Lucky 15s, Heinz and Goliath bets.

This is considered smart bets for people to take, especially on horse racing. When two or more horses cross the finish line so close together that the only way to distinguish the winner is by examining a photograph taken at the exact moment of the competitors crossing. When the punter chooses a race meeting and then selects one or more horses from the first six races to place.

The total amount of money shared among the competitors that finish in the top four or five positions. Named a super Heinz as it is even bigger than a Heinz, this is one of the largest bets out there. It consists of bets over seven selections. That includes 21 doubles, 35 trebles, 35 fourfold bets, 21 five fold bets, seven six fold bets and one sevenfold bet. A horse whose pedigree can be traced back to one of the three founding stallions of the 17th and 18th century — The Darley Arabian, Godolphin Arabian or the Byerley Turk.

Either refers to the Wigan-based bookmaker solely responsible for running pool bets on horse racing, or the type of bet in which a dividend is paid out from a betting pool. A Trixie bet consists of four bets over three selections and is popular in gambling. These are three doubles and one treble. This is a full cover bet as each selection appears in at least two doubles and the treble. Two bets are needed to guarantee a return. This website contains advertisement. A Abandoned A race that has been abandoned due to bad weather conditions.

Accumulator A single bet that combines at least four different selections. Allowance Race A type of race that has set conditions and weights for the competing horses. Allowance A weight reduction permitted to females when they are racing against males or when three-year-olds race against older aged horses.

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Exacta With this bet you must pick the first two finishing horses in the order of their finish. You must pick the horse that wins and the horse that finishes second. Daily Double The Daily Double is like a parlay bet involving two consecutive races, usually the first two races on a card and the last two races on a card. You must pick the winner of the first race and the winner of the next race. Pick 3 Pick 3: This wager includes picking the first place finishers of three consecutive races.

If one leg of the pick 3 is a loss the entire wager will be deemed a loss. Exacta : This is a bet involving two horses. To win the two horses you pick in the order picked would have to win and the other horse would have to run in second place. Exacta Box : This wager is actually two exacta bets on one ticket using the same 2 horses.

Your horses can run first and second in either order for your bet to be a winner. Trifecta Box : Like the exacta box, this would actually be 6 bets on one ticket. You are betting all possible combinations of a three-horse wager. For example, 3,4,5 — 3,5,4 — 4,3,5 — 4,5,3 — 5,3,4 — 5,4,3.

Trifecta Wheel : Same as the exacta wheel where one horse is keyed in one of the positions first, second or third and all other horses are placed in the other two positions. Trifecta Partial Wheel : Same as the trifecta wheel but instead of betting with all, selected combinations are placed in the other two positions. Pick 4 : The first place finishers of four consecutive races must be picked in order to win this wager.

The wager must be placed before post time of the first race. If one leg of the pick 4 is a loss the entire wager will be deemed a loss. Sign in. Log into your account. Forgot your password? Password recovery.

Recover your password. Technology has made betting on your computer or phone as easy as ever, but there's still a thrill to holding a paper ticket and collecting cash at the window. Wagering at the track can be intimidating for novice bettors. Most tellers are happy to answer questions and assist you with the process…as long as you're not betting on the day of the Kentucky Derby or Breeders Cup.

If you plan on visiting a track or off-track betting parlor to make your wagers on one of horse racing's busiest days, make sure you come prepared. Horse racing tellers request a specific order of information from bettors when they come up to the window. If you follow these five steps, you'll keep the teller and the people behind you very happy:.

CO Gambling problem? Call Indiana Self-Restriction Program. NJ Bet with your head, not over it! Gambling Problem? Call Gambler. NV If your gambling is no longer fun, don? Contact the Nevada Council on Problem Gambling or call PA If you or someone you know has a gambling problem, help is available, call Gambler.

Wednesday, February 10, A Place Bet — Pays you back if the horse you select finishes first or second in the race. A Show Bet — You win your wager if the horse finishes the race first, second or third. Exacta — Correctly selecting the top two finishers in a race in the exact order of finish. Trifecta — Correctly selecting the top three finishers in a race in the exact order of finish.

Superfecta — Correctly selecting the top four finishers in a race in the exact order of finish. Daily Double — To win this wager, you need to select the winner of two consecutive races. The longer the streak, the better the payout. Box — When you box a wager, you are playing all of the possible combinations of a group of horses. Morning Line — Set by a track handicapper, the morning line is a prediction of how the betting picture will look at post time.

The morning line has no direct impact on payouts.