You usually have two categories of wagers to choose from when you get to bet on the horses: they are called straight wagers and exotic wagers. As a beginner, it is recommended to stick with straight wagers. They are very simple to understand and the bettings are cheap. You will simply have to pick a horse that comes in first, second, or third. The minimum bet a wager can place is just $2.
Exotic wagers will allow you to make many bets on many horses in a single wager. You will require an advanced degree of skill and knowledge in horse picking to bet this way. However, the payoffs on exotic wagers are very much greater than simple straight ones.
Exotic horse racing betting
Remember that with a straight wager, you get to bet only on one horse.
- WIN – It means that you are betting on the horse that will come in the first place. If the horse you bet on finishes first, you will get to collect your winnings.
- PLACE – When you bet on a horse to “place,” you are actually betting that he may come in first or second place. If the horse finishes in first or second place, you will get to collect your winnings.
- SHOW – This is for bets placing on a horse that can come in first, second, or third places. As you are extending your bets, you can have a higher chance of winning, but also keep in mind that the payout for a show bet is very much less than that of a win or place wager.
- ACROSS THE BOARD – When you are betting across the board, you are actually betting on a horse to win, place as well as show. An across-the-board bet is what we call a “combo straight wager” as it consists of three different bets together as one. As it has three bets in one, an across-the-board bet is very much more expensive than a simple win, place, or show bet. If the horse you bet on comes in first, you get the win. If the horse finishes second, you get a place. If the horse comes in third, you just get the show. The across-the-board bet is not usually considered a good wager because they are expensive and bring less profit.
- WIN or PLACE, PLACE, or SHOW – This is very similar to an across-the-board bet. In a win or place bet, you are betting the horse to win at both the win and the place. If he wins, you get to collect both the win and place money. If he finishes second, you can just collect the place money. In a place or show bet, you are betting that the horse will win at both places as well as the show. If the horse finishes second, you can collect the place and show money. But, if he finishes third, you just get the show money. This is how this bet works.