There are so many horse betting types, and you can probably bet on just about anything related to horse racing. However, the most common horse race bets include win, place, show bets, exactas, daily doubles, and triple-doubles.
How does a parimutuel wager work?
A parimutuel bet is a betting system where the odds are not determined until all bets are placed. Parimutuel wagers are based on pooling money from all who bet into one large sum paid out to the winners. The ratio between what was won and the total amount wagered is the takeout, typically around 10 percent.
There are different types of horse betting as under:
Single bet means single race betting. A single bet is a single wager on a single horse or dog or any other animal competing in an individual event. Single bets are quite popular among sports bettors for being the most straightforward wager to place. Most significant sportsbooks offer single bets on virtually all sporting events. For example, if you want to bet on the next single horse race, then single bets are one type of betting you can do.
A double bet is a type of betting in which the punter has to wager two separate bets. Each combination has an independent payout if successful. Double bets are similar to parlays, but the payouts are even higher because you have more chances of winning. Double or quinella betting offers some of the best payouts amongst all types of horse racing bets. Double bet means double payout or double money. Double betting is a type of wager in which the player needs to make two distinct wagers, one on each possible outcome. The player risks twice as much compared to single betting, but the potential for reward is also doubled.
A treble bet means trebling the money. In triple betting, a punter must pick three winning selections to win their bet. If they get two of these right, they lose their stake. A treble chance involves betting on three horses and requires the selection to win in all three possible combinations. For example, a treble wager on horses A, B, and C would payout if the bettor selected all three to win in any order. Treble bet trebling your money.
A Trixie bet is a type of multiple bet. A Trixie comprises six chances, consisting of five singles and one double that trace the possible combinations in descending order beginning with the double. It pays out at 20-1 for an £11 stake in Britain’s most popular Trixie horse racing. The Trixie bet is a multiple bet in which the player has to predict t
he order of finish for all six horses in six different races.
It is the kind of bet with one treble and three double and three singles. A patent is a type of wager in which the winner of the race can be accurately predicted. Patent bets are successful when average speed factors overshadow other racetrack conditions, such as class or distance. In patent betting, the winner should win by a significant margin. In patent bets, only one horse is predicted to win from all the other horses in the race.
An accumulator bet is a type of wager. The punter selects two or more selections and combines them into one chance. Accumulator bets are similar to double bets but differ because the stake is only placed on what will happen if all of your selections win. Accumulators are generally considered riskier than doubles but with the potential for greater rewards. Accumulators are bets that involve multiple choices in a single chance. If one or more selections fail to win, the whole accumulator bet fails.
Yankee betting is popular in the USA, Canada, and Australia. It’s the most exotic of all bets on horse racing. A Yankee bet can be placed on several horses to win, place, or show. This Yankee bet strategy will help you out if you want to bet on Yankees. The Yankee bet is a multiple bet. The punter predicts the finishing positions of six selections, with each prediction requiring a different chance.
Lucky 15 Bet
Lucky 15 bet is a type of multiple bet in which the player has to pick 15 selections for an accumulator Lucky15 Bet. Lucky15 are bets with fifteen selections in which one must win, place, or show. Lucky15 bets are prevalent in Australia and New Zealand.
Canadian bet in Canadian horse betting is the Canadian version of Canadian doubles or quinella. Canadian bet means Canadian replica. It’s a bet where you must pick the 1st and 2nd positions in exact order by two horses in the same race. If you win your Canadian bet, your return will be much bigger than average single bets.
Lucky 31 Bet
Lucky 31 is a type of horse betting bet. This type of bet can be placed on any particular horse, whether at the beginning or end of the Lucky 31 selection process.
There are two ways to view Lucky 31 bets: as an individual wager (usually employed by experienced gamblers) and as part of multi-race wagers (more common for beginners). Lucky 31 wagers as a separate bet are a single Lucky 31 betting ticket that usually covers anywhere between two to ten races. Lucky 31 bets can be arranged in any particular order. Gamblers frequently input the Lucky 31 paper into a ticket-issuing machine and receive printed documents of each Lucky 31 bet made. Lucky 31 bets as part of multi-race wagers are usually linked together on one ticket. Lucky 31 bettors must specify the number of races to cover. Lucky 31 tickets can be used to place Lucky 31 bets for anywhere between four and ten horse races.
Formula: Lucky 31 Bet = (Race 5 + Race 8)
Daily double bet is
One of the most exotic bets you can place on racehorses. It is also referred to as daily double wager, daily double bet, daily double wagers, daily doubles, daily combination bet, and DK (Daily Double).
The daily double bet combines two horses in a single chance, with conditions laid by the organizers of daily double betting.
In daily double bet, you have to pick the first horse from a daily double racing list, then select the second horse that will be run by this first one.
Super Yankee Bet
It consists of ten doubles, ten trebles, five fourfold, and one by a fivefold accumulator. A Super Yankee bet consists of 10 bets, including ten images and a fivefold accumulator.
Informal bet, usually used as Heinz 57. To win or place at a particular race meeting, a Heinz bet involves wagering on many different Heinz Bet
Horses. In Australia, this type of Heinz is known as the Heinz 57 because there usually are 52 races each week, and 7 Heinz bets are placed – 1 Heinz for each race.
In the Heinz bet, one selects Heinz of horses they think can win or place in a particular race.
Lucky 63 Bet
The Lucky 63 is a wager offered in some horse race betting markets. It works by picking the first six finishers of a horse race. This bet can be made on any Thoroughbred & Harness racing, and it will work with or without doubles, triples, and quinellas. Lucky 63s are usually priced around $1.13 – $1.20, which is a 2/1 Lucky 63 or 10/3 Lucky 63, with the draw included in the total price of Lucky 63 bet.
Nationally, Lucky 63s are only offered on big races and major TAB meetings such as Caulfield Cup Day and Melbourne Cup Day.
Super Heinz bet
It is a superfecta bet known as a super Heinz, super superfecta, or super. It consists of buying the highest number of horses in an exotic race and getting paid for it if one wins. Hence, the other horses have to beat you only once.
Super Heinz bet the odds are equal to the superfecta par, i.e., super superfecta 1-2-3-5 pays 1/1 while keen Heinz 1-2-3-$5 would pay 5/1. The “1” horse has to win the race, and the “2” horse needs to finish second and so on until you get to the “5” horse, who should come in fifth.
You don’t need to pick the winner in super Heinz bets because if your 4-horse gets second or third place or sometimes even first and you have a super superfecta 1-2-3-$5 super Heinz bet, it will. Win too!
Goliath is a horse racing bet type that only uses the tote board price. Goliath bets are typically Goliath Trifecta, Goliath Exacta, and Goliath Quinella wagers. The Goliath bet does not use other race data, such as the morning line odds or changes.
Union Jack Trebles
is a type of bet in horse betting. Union Jack Trebles is a trifecta bet which includes the first three horses in order and pays out at odds of 12/1.
There are many different types of bets that you can place when you’re looking to gamble on your favorite horse race, but Union Jack Trebles is just one of them. Union Jack Trebles is a trifecta bet which includes the first three horses in order and pays out at odds of 12/1.
If you place your Union Jack Trebles bet, your payout depends on your odds when placing it.
Union Jack Trixie bet.
In horse betting, this is a bet that involves placing two separate bets on the Union Jack (1st place) and Trixie (2nd place). Union Jack Trixie is similar to an exacta box bet.
The Union Jack part of Union Jack Trixie means that you place bets on horses 1, 2, 3. Union Jack Trixie is a bet where you are putting two separate bets. Union Jack requires the horses to come in 1st, 2nd, and 3rd place, while Trixie requires the second-place horse to win.
For Union Jack Trixie to return a winning ticket, your bets must be placed on Union Jack (1st) and Trixie (2nd). Union Jack and Trixie must be in 1st and 2nd place to return a winning ticket. Union Jack Trixie is available at horse racetracks, where payoffs are made for the exacta, quinella, trifecta, and superfecta bets.
Union Jack Patent is
A horse betting term means the horse is only entered in Union Jack Patents. Union Jack Patent bets are typically made as single-race wagers.
When you place Union Jack Patent bets, your winnings or losses will be determined only by the Union Jack Patent race and not on any other races within the program. For example, if Union Jack Patent wins the first Union Jack Patent race, you would win on Union Jack Patent bets no matter what Union Jack Patent finishes in any other races within the program. Union Jack Patent bets can include fixed odds or place betting, but not multiple horse wagers.
Union Jack Round Robin
Is it a horse racing bet in which two Union Jack wagers are placed on the same race? Union Jack Round Robin is like “Win, Place, and Show” because it has one ticket but allows for three separate bets. The Union Jack betting system is typically used when placing multiple horses, ponies, or steers in races that will be forced into a dead heat. Union Jack bets can be placed on most forms of racing and gambling, including horse racing, harness racing, greyhound racing, and bullfighting. Union Jack round-robin wagers are only profitable when the same horses in the race across the finish line at the same time or if there is no official winner for any reason. Union Jack ticket prices are determined by the track or race. Union Jack bettors usually purchase Union Jack tickets at Union Jack bookmakers.
Typically, Union Jack bets will be accompanied by multiple other Union Jack wagers (example: Union Jack Multibanco) to maximize the chances of winning.
Bet in horse betting is a popular bet for people who like to place bets on horses. Alphabet bet in horse betting is where you select the first three horses that will finish the race and then attempt to predict whether they will be placed Alphabetically or not Alphabetically (for example, A-B-C, B-A-C, C-A-B). Alphabet bet in horse betting is a popular bet amongst punters. If you are right with Alphabet’s bet in horse betting, you will have triumphed over the bookie. Alphabet bet in horse betting also gives your winnings more chances to increase or decrease than regular bets.
Single Stakes About bet
Horse racing is a bet on the outcome of just one race. Single bets can be placed based on almost any aspect of the race. For example, you might bet that three horses will finish within half a length of each other or that there will be more than six winners at your track. Single Stakes are also standard for exotic wagers on the horses running in the race.
Double Stakes About bet
Make a wager on the Double Stakes About betting system in horse racing. Double stakes about bet mean two bets are placed simultaneously for the same horse in different races. Double stakes about bet can be used when an alien race is included to increase your winnings.
Round Robin bet
Horse betting is the simplest form of wagering available because it requires no skill or knowledge of the sport. Round Robin bet is also referred to as Place Bet or Show chance. When placed on a horse in a race, Round Robin means that the player wants his selection to finish either first or second, in any order.
This bet is made on the top two horses in a horse race. Flag bets are often found at tracks that offer exotic wagers, where Flag bets are used to balance out lower-odds stakes. Flag bets should only be placed by experienced players who are confident of their handicapping abilities or information. Flag betting requires that all top two horses win or put for Flag betting to pay. Flag bets are usually made on the last race of the day at significant tracks; however, Flag bets are also available in some states which do not have a legal exchange.
Super Flag bet
It is a Super Flag bet in horse betting. Super Flag bets are placed by players who want to bet on multiple horses to finish first, second or third in the same race. Super Flag bets are also known as Superfecta bets in some places. Super Flags are gaining more and more popularity nowadays, with so many Super Jocks winning big races worldwide. Super Flags will return more than a trifecta bet and Super Superfecta bet only if the selected horses finish 1st, 2nd, and 3rd in that race. Super Flags can be placed on all horse racing events like American, European, and Japanese.
A Heinz Flag bet is a combination wager involving seven horses, covering all possible combinations of the first and second-place finishers. The Heinz Flag Bet can also include two more races: one for third and one for fourth.
Super Heinz Flag
Bet in horse betting is a double bet that involves a Super Heinz and a Flag bet. Both Super Heinz and the Flag bets are known as exotic bets. Super Heinz is a multiple bet with 90 possible outcomes, whereas Flag is also an exotic bet with 20 possible results. Super Heinz involves relatively high odds, but Super Heinz Flag is a combination of Super Heinz and Flag bets and has somewhat higher odds. Super Heinz Flag bet usually refers to Super Heinz that includes two or more horses in the race. Super Heinz Flag bet is also known as Super Heinz Double Flag, Super Heinz Triple Flag, Super Heinz Quadruple (and so on).
Goliath Flag betting
It is a specific wager in horse racing. Goliath Flag Horse Betting is more commonly used on the Goliath racecourse in Delaware Park. Horse Gambling Goliath Flag bets are handled differently than other wagers. Even some cashiers at racetracks don’t know how to handle Goliath bets. Goliath flag horse betting is a combination bet that involves your Goliath horse racing ticket being graded with the Goliath flag from the Delaware Park Goliath race wagering menu.
Horse Gambling Goliath Flag betting comes in two varieties: Goliath straight bets and Goliath multi-race bets.
Straight Forecast bet
It is a type of horse race bet you win if your horse wins, places, or shows. Straight Forecast bets are often available for races with complicated conditions such as the Caulfield Cup, Cox Plate, and Doncaster Mile.
In Straight Forecast betting, you have three options to choose from when placing your bet:
– Win only
– Place only
– Show only
A Straight Forecast bet is the most famous horse race bet in Australia. It’s perfect for those who like to keep things simple and don’t want the stress of worrying about when their horse needs to cross the finishing line in first, second, or third place. Straight Forecast bets are not available on every horse race. Still, where they are, you’ll generally find Straight Forecast bets accepted by most bookmakers.
A type of horse race betting that involves three races. TriCast bets are available on some tracks and thoroughbred races. TriCast bets can be placed during the day but usually have a specific cut-off point before the first race starts. TriCast bets must be completed by post time for the last race in the trifecta. Trifectas are popular because they offer a much higher payout than the win-only bet. Still, it is much harder to pick a winner because there are three legs to the chance. Trifecta bets can also be placed as exact, which means picking two of the horses in each leg to finish first and second.
Each Way Bet
It is a specific type of horse race bet where you win in two ways. You win half of your stake back if the horse you’ve ‘placed’ (placing means betting on) finishes first, second or third. If it comes in fourth place or lower, you will not get any money at all. Each-way betting is so-called because you ‘each-way bet. Each way means in both the first and second places. You can choose to be paid out at a 50% rate – this is a ‘place’ Each-way Bet.
Tote Placepot Bet
In horse racing, this is a bet placed on all the horses (at least six) that finish in the first three positions of a Tote Placepot race. Punters often use tote Placepot bets to cover multiple runners at a Tote meeting. Tote Placepot betting can be a great way to save on Tote betting slip costs if you only wish to place a Tote bet on a few horses in the Tote Placepot race. Totes will often add together your Tote Placepot bets and Totes placed on individual runners, so be careful not to accidentally over chance by placing too many Totes!
All types of what we have discussed above have different risk factors of winning and losing. These bets are the predictions based on various factors about horses’ breed, training, race track and events and so on and preparation of the horses and riders in a current race, so all depends on factors and of course luck of bettor as well.